Cosmo Films Limited, a global leader in films for
packaging, labeling & lamination applications and synthetic paper today
declared its financial results for the quarter ended December, 2019. Q3 FY20
net revenue increased by 4 percent on YOY basis backed by a better product mix
and higher volumes. The improved performance is on account of higher sales of
speciality films and strong operating margin on BOPP films (due to balanced
demand supply scenario). Last year results included Rs. 8 crores of profit on
sale of assets in US subsidiary following the relocation of plant.
Commenting on the financial performance of the
company Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said, “We have had one of the
best quarterly results with a significant contribution coming from sales of
newly developed products. The company’s R&D has done successful trials for
in house manufacturing of certain masterbatches and coating chemicals as a part
of backward integration/maintaining secrecy as well as diversification into new
related business.
The company shall start production, sales and
internal consumption of these masterbatches and chemicals over the next few
quarters under a newly wholly owned subsidiary. These are low capex projects
with good margin expansion for the company.”
Established in 1981, Cosmo Films Limited, a global
leader in films for packaging, labeling & lamination applications and
synthetic paper. With engineering of innovative products and sustainability
solutions, Cosmo Films over the years has been partnering with worlds’ leading F&B,
personal care and tobacco brands and packaging & printing converters to
enhance their consumer experience.
Company’s film offerings include BOPP and CPP
films. Today, the company is the largest exporter of BOPP films from India and
also the largest producer of thermal lamination films in the world. Its
customer base is spread in more than 100 countries with manufacturing units in India,
Korea & Japan.
