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Cosmo First Limited — Earnings Release 2024
May 15, 2024
62162_rns_2024-05-15_59cd2a57-258d-4f51-adf6-c52d96ee9ef6.pdf
Earnings Release
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CFL/SE/2024-25/MAY/ 06 May 15, 2024 The Manager (Listing) The Manager (Listing) BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Plot no. C/1, G Block, Mumbai-400 001 Bandra – Kurla Complex Scrip Code: 508814 Mumbai-400 051 Security ID: “COSMOFIRST”
Sub: Media Release
Dear Sir,
Please find enclosed herewith media release issued by the Company with regard to Audited Financial Results of the Company for the quarter and year ended on March 31, 2024.
You are requested to take the same on your records.
Thanking You
Yours faithfully For Cosmo First Limited (Formerly Cosmo Films Limited)
JYOTI Digitally signed by JYOTI DIXIT DIXIT Date: 2024.05.15 17:27:38 +05'30' Jyoti Dixit Company Secretary & Compliance Officer
Encl: as above
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Cosmo First Limited
(Formerly Cosmo Films Ltd)
Consolidated Results
Cosmo First reports improvement in March’24 quarter results
| In Rs. Crores | Q4 FY24 | Q3 FY24 | FY 23-24 | FY 22-23 |
|---|---|---|---|---|
| Net Revenue | 641 | 625 | 2587 | 3065 |
| EBITDA | 67 | 56 | 251 | 434 |
| EBITDA % | 10.5% | 9.0% | 9.7% | 14.2% |
| PBT | 18 | 10 | 72 | 304 |
| PAT | 15 | 11 | 62 | 244 |
| EPS (In Rs.) (Not Annualized) |
6 | 4 | 24 | 91 |
New Delhi, 15[th] May 2024: Cosmo First Limited today declared its financial results for the quarter and financial year ended 31[st] March 2024.
The improvement in EBIDTA has been made possible with higher specialty sales as well as improvement in domestic BOPP film margins (effective March 2024). The industry margins for BOPET film (about 8% of Company’s FY24 sales) continued to remain in negative zone. For BOPET film, the Company is focussed on profitable specialty films / shrink films to achieve EBIDTA breakeven.
The Q1, FY25 outlook for BOPP margins remains steady at March 2024 month level. Further, the Company is expecting improved sales of speciality BOPP films as well as reduction in costs.
During the quarter, the Specialty Chemical subsidiary’s EBITDA has also improved due to enhanced realization of chemical coatings. The Cosmo Specialty Chemical should deliver double digit EBITDA and 20%+ ROCE in FY25.
During the quarter, the Company’s credit rating has been re-affirmed by CRISIL as AA- with stable outlook.
The Board has recommended a dividend of Rs.3 per share.
Commenting on Company’s performance Mr. Pankaj Poddar, Group CEO, Cosmo First Ltd said “The Company’s focus remains on its specialty business. It shall be further strengthened with launch of high-value-added sun control film, Cosmo Sunshield, in FY25. In Zigly, we are focussed on the same store sales growth.”
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About Cosmo First Limited
Founded in 1981 by Mr. Ashok Jaipuria, Cosmo First today has a presence across 100+ countries around the globe. Cosmo First is a global leader in specialty films and an emerging player in specialty chemicals (Masterbatches, Adhesive & Coating chemicals), Rigids (Cosmo Plastech) along with digital first Omni channel Pet care business under the brand name ‘Zigly’.
For more details, please contact–
Shagun Walia E: [email protected] M: 9665049007
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