Cosmo Films Limited, a global leader in films for
packaging, labelling & lamination applications and synthetic paper today
declared its financial results for the quarter ended March 31, 2018.
In Q4 FY18, the Company achieved the highest ever
quarterly sales volume (up 14% YoY) primarily on the back of near to full
capacity utilization of the BOPP line commissioned in February 2017. Commodity
film margins remained subdued negating the favourable impact of volume
increase.
For the full year, sales volume grew by 25% but
lower commodity films margins wiped out more than whole of the gains of the
volume increase. PAT and EPS dropped further due to higher interest and
depreciation of the new BOPP line commissioned last year. One-time tax reversal
due to recent change in Income Tax Act enabled to partially mitigate the drop
in PAT and EPS.
Commenting on the financial performance of the
company Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said, “We continue to focus on
expanding specialty which has grown by 20% YoY and full utilization of
capacity. While BOPP film margins continued to be volatile, our continuous
focus on improving operational efficiencies helped in maintaining EBIDTA
level.”
Established in 1981, Cosmo Films Limited today is a
global leader in speciality films for packaging, lamination and labeling
applications. Its films offerings include biaxially oriented polypropylene
(BOPP) films, cast polypropylene (CPP) films and soon to be offered biaxially
oriented polyethylene terephthalate (BOPET) films. Today, the company is the
largest exporter of BOPP films from India and is also the largest producer of
thermal laminating films in the world with plant cum distribution centres in
the U.S, Korea & Japan and global channel partners in more than seventy
countries.
