Cosmo Films Limited Announced Consolidated Results; Flat profit in difficult cycle
Deepthi | Myequity news | Date : 12-11-2018 18:50:00 IST
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 September 30, 2018.
During Q2, FY19 net revenue increased by 14% YOY due to partial p ass through of increase in raw material prices, increase in sales volume and better sales mix. Domestic commodity film margins declined further on Y-o- Y basis, the Company could however, maintain EBITDA (excluding one-time item) primarily from enhanced operational efficiencies, better sales mix and tax incentives on new investment.
Commenting on the financial performance of the company Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said, “The Company is navigating the tough times emanating from extremely poor commodity pricing in domestic market and remained focus on improving sales mix, focusing on internal efficiencies and increasing international sales. Though predictions cannot be made on domestic commodity margins, demand and supply is expected to balance out over next 3-4 Quarters. The improvement in overseas subsidiaries operations is encouraging and we expect further growth in sales in the overseas subsidiaries.”
About Cosmo Films Limited
Established in 1981, Cosmo Films Limited today is a global leader in speciality films for packaging, lamination and labeling applications. Its films offerings include biaxially oriented polypropylene (BOPP) films, cast polypropylene (CPP) films and soon to be offered biaxially oriented polyethylene terephthalate (BOPET) films. Today, the company is the largest ex porter of BOPP films from India and is also the largest producer of thermal laminating films in the world with plant cum distribution centres in the U.S, Korea & Japan a nd global channel partners in more than seventy countries.