Cosmo Films Limited, a global leader in films for packaging, labelling & lamination applications and synthetic paper today declared it’s financial results for the quarter ended in December 2019.
Q3 FY20 net revenue increased by 4 per cent on a 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 the balanced demand-supply scenario). Last year results included Rs. 8 crores of profit on the 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.”
About Cosmo Films Limited
Established in 1981, Cosmo Films Limited, a global leader in films for packaging, labelling & 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.