Yearly EBITDA increase by 53% and PAT by 109%
Cosmo Films Limited, a Global Leader in Films for Packaging, Labelling, Lamination and Synthetic Paper and an emerging player in Specialty Chemicals, Polymers & Pet care today declared its financial results for the quarter and year ended March 2021.
During FY21, PAT has more than doubled (110% up from FY20) on the back of higher speciality sales, better operating margins, and uptick performance by subsidiaries. FY21 ROCE and ROE stands at 22% and 30% respectively while EPS increased by 115% (vs PY) to Rs.127 per share. Net debt at Rs.438 crores is close to 1 times to EBITDA.
Results for Q4 are even stronger than the first 3 quarters of the year driven by continued specialty films growth in Indian as well as overseas operations.
Commenting on Company’s performance Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said “Cosmo Films is a name to reckon globally for newer, innovative solutions. The specialty films sales have grown YoY in the last 3 years and growth rate in FY21 surpassed 20% despite the base becoming larger each passing year reaffirming the Company’s growth strategy through continuous investment in R&D, Sales & Marketing, Employee practices, Quality and Customer satisfaction. The significant share of specialty films in the overall sales has made a strong foundation for Cosmo and will help Company do well even in the tougher times’.
On expansion front, construction of specialized BOPET line has started and is running as per plan even with significant Covid related challenges. The internal consumptions for Materbatch is growing continuously and the external sales will start soon. The Company has successfully completed development of several textile chemical products, each with specific USPs. These are currently under trials with textile manufacturers and processors. Commercial launch would follow in H1FY22. Pet care pilot launch will start in Q2 FY22 under the brand name “Zigly” and will provide unique value proposition to Pet Parents across different channels.”
