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Cosmo First Limited — Earnings Release 2022
Aug 4, 2021
62162_rns_2021-08-04_75aa46d3-9121-40c7-984c-739e31afcf51.pdf
Earnings Release
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CFL/SEC/SE/PS/2021-22/AUGUST/04
August 04, 2021
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| The Manager (Listing)Bombay Stock Exchange LimitedPhiroze Jeejeebhoy Towers,Dalal Street,Mumbai-400 001Scrip Code: 508814 | The Manager (Listing)National Stock Exchange of India Ltd.Exchange Plaza,Plot no. C/1, G Block,Bandra – Kurla ComplexMumbai-400 051Security ID: “COSMOFILMS” |
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Sub: Media Release
Dear Sir,
Please find enclosed herewith media release issued by the Company with regard to unaudited Financial Results of the Company for the quarter ended on June 30, 2021.
You are requested to take the same on your records
Thanking You
Yours faithfully
For Cosmo Films Limited
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Jyoti Dixit Company Secretary & Compliance Officer
Encl: Media Release
CIN: L92114DL1976PLC008355 Cosmo Films Limited 1008, DLF Tower-A, Jasola District Centre, New Delhi-110025 T: +91 11 49494949 F: +91 11 49494950 www.cosmofilms.com
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Press Release
Cosmo Films Limited
Consolidated Results
Cosmo Films – beating its own best results once again
| In Rs. Crores | Q1 FY22 | Q1 FY21 | %Increase |
|---|---|---|---|
| Net Revenue | 688 | 481 | 43% |
| EBITDA | 142 | 93 | 53% |
| PBT | 116 | 66 | 76% |
| PAT | 87 | 47 | 85% |
| EPS (in Rs.)(not annualized) | 48.6 | 24.8 | 96% |
New Delhi, August 4th, 2021: Cosmo Films Limited, a Global Leader in Films for Packaging, Labelling, Lamination and Synthetic Paper and an emerging player in Specialty Chemicals and Polymers today declared its financial results for the quarter ended June 2021.
During Q1FY22, EBITDA has 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.
Expected capacity expansion (Specialized Polyester line), focus towards growing specialty sales, diversification into specialty chemicals, FMCG business & pet care would drive further growth in coming years.
Credit rating agency CRISIL has upgraded 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.
Commenting on company’s performance Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. 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, & 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 Fast Moving Consumer Goods (FMCG) industry with the launch of ‘Fabritizer’, a product which assures a 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.
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We are 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.”
About Cosmo Films Limited
Established in 1981 and founded by Mr. Ashok Jaipuria, Cosmo Films today is a global leader in specialty films for packaging, lamination, labeling and synthetic paper. With engineering of innovative products and sustainability solutions, Cosmo Films over the years has been partnering with worlds’ leading F&B and personal care brands and packaging & printing converters to enhance the end consumer experience. Its customer base is spread in more than 100 countries with sales & manufacturing units in India and Korea and additionally sales & distribution base in Japan, USA, Canada and Europe.
The Company is strategically expanding beyond Films into Specialty Chemicals & Polymers as well as Pet care business.
For more details, please contact –
Shagun Walia E: [email protected] M: 9665049007
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