Cosmo Films beats its own best results in Q1FY22

By 09 Aug 2021

Cosmo Films declared its financial results for the quarter ended June 2021 on 4 August. During Q1FY22, EBITDA increased by 53% on account of higher speciality sales (20% growth), better operating margins and uptick performance by subsidiaries. This, together with marginal reduction in overall tax rate, led to an increase of 85% in PAT. Increase in EPS was still higher due to impact of buyback of shares in December 2020.

Pankaj Poddar, CEO, Cosmo Films

Expected capacity expansion (specialised polyester line), focus towards growing specialty sales, diversification into specialty chemicals, FMCG business and pet care would drive further growth in coming years.

Credit rating agency CRISIL has upgraded the company’s long-term credit rating during the quarter to AA- and short-term credit rating to A1+ with a stable outlook. The upgrade in credit rating reflects a strong financial profile as well as continuous growth of Cosmo Films in specialty films.

Pankaj Poddar, CEO, Cosmo Films, said, “The company is enhancing its specialty films portfolio and has launched multiple innovative products making the product pipeline even stronger. Sustainability is at our core, and Cosmo is continuously reducing its carbon footprint while helping brands on more sustainable packaging. Cosmo Specialty Chemicals, a subsidiary of Cosmo Films forayed into the FMCG industry with the launch of ‘Fabritizer’, a product which assures 99.9% protection against viruses and bacteria on clothes. The company’s R&D has successfully completed the development of 20+ textile chemical products, each with specific USPs. Many of the textile chemicals products have already received prestigious GOTS approval as well as customer approvals while the commercial production will start in Q2FY22.”

The company is also ready for pilot launch of pet care in Q2FY22 under the brand name ‘Zigly’ which will be a unique value proposition with omni-channel presence for pet parents.

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