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 June 2019.
Q1 FY20 net revenue increased 5% on YOY basis mainly on the strength of growth of sales volume. The company achieved EBITDA of Rs.60.6 crores during the quarter due to higher speciality sales, continued improvement in operational efficiencies, improvement in US operations and better BOPP films margins.
Commenting on the financial performance of the company Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said, “BOPP films margins have improved vs. last year, though they are yet to reach the normalized levels. In the last few quarters, Cosmo has had many successful launches including sustainability projects (recyclable structures) with large consumer brands, improved and new versions of synthetic paper, and new varieties of label & industrial films. Going forward, the company shall continue to focus on speciality films with higher margins and lower capital expenditure yet requiring high level of research & development.”
About Cosmo Films Limited
Established in 1981, Cosmo Films is a global leader in specialty films for packaging, lamination and labeling applications. Its film offerings include bi-axially oriented polypropylene (BOPP) and cast polypropylene (CPP) films. Over the years, with the engineering of innovative products and sustainability solutions, the company has been partnering with the world’s leading F&B brands, packaging & printing converters to enhance their consumer experience.
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, U.S, Korea & Japan.