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Cosmo First Limited — Earnings Release 2024
Feb 13, 2024
62162_rns_2024-02-13_c74afcb1-0d7b-456c-8f8a-4bb5751f3bdd.pdf
Earnings Release
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CFL/SE/2023-24/FEB/05
February 13, 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 Un-audited Financial Results of the Company for the quarter ended on December 31, 2023.
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: 2024.02.13 17:53:40 +05'30' Jyoti Dixit Company Secretary & Compliance Officer
Encl: as above
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For Immediate Release
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Cosmo First Limited
(Formerly Cosmo Films Ltd)
Consolidated Results
Cosmo First publishes December quarter results
| In Rs. Crores | Q3 FY24 | Q2 FY24 | Q3 FY23 |
|---|---|---|---|
| Net Revenue | 625 | 664 | 730 |
| EBITDA | 56 | 72 | 86 |
| EBITDA % | 9.0% | 10.9% | 11.7% |
| PBT | 10 | 29 | 49 |
| PAT | 11 | 22 | 46 |
| EPS (In Rs.)(not annualized) | 4.4 | 8.3 | 16.9 |
New Delhi, 13th February 2024: Cosmo First Limited today declared its financial results for the quarter ended December 2023.
During the quarter, the domestic margin both BOPP and BOPET shrank further due to desperate and below cost selling resorted by the industry. The Company could withstand the disorderly market movements and outperformed the industry at large on the strength and growth of its speciality film business. The near-term outlook in terms of BOPP and BOPET margins remains hazy.
The Company recently launched metallized capacitor film for electronic industry and Rigid Packaging for FMCG industry. Market response has been very good, and the Company expects to hit full capacity utilization in the next 2-3 quarters and add to EBITDA earnings.
Zigly has undergone revamping of its IT infrastructure making it future ready for harnessing the exponential growth of Petcare industry in India. The marketing attribution has been rapidly improving with improvement in RoAS (Return on Advertising Spends) and other key performance parameters.
The Speciality Chemical subsidiary is progressing as per plan and is at the cusp of delivering double digit EBITDA and high teens ROCE from FY25.
The Company’s credit rating has been re-affirmed by CRISIL as AA- with stable outlook in January 2024.
Commenting on Company’s performance Mr. Pankaj Poddar, Group CEO, Cosmo First Ltd said “While short term challenge remains due to adverse packaging film margin, the Company continues to build speciality films vertical and plans to launch high value-added sun control film (Cosmo Sunshield) in FY25. In the next 12-18 months, Speciality BOPET films, Sunshield
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films, Rigid Packaging and Specialty Chemicals would start adding to the Company’s overall profitability.
With the exponential growth of Petcare industry in India, Zigly would surely be a winner and a significant wealth creator for the Company’s shareholders”.
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), digital first Omni channel Pet care business under the brand name ‘Zigly’, Rigid Packaging (Cosmo Plastech) and soon to be launched Window Films (under Cosmo Sunshield brand name).
For more details, please contact–
Shagun Walia E: [email protected] M: 9665049007
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