Cosmo First declared its financial results for the quarter that ended September 2022.

Commissioning of several new production lines in India within a short span coupled with subdued order flow from overseas customers (geo-political crisis, supply chain corrections, and currency fluctuations) led to disruption of all demand-supply scenarios as well as the margins. Impact on Cosmo was minimal as our strong and growing portfolio of specialty films is least prone to competitive pressures.

Margins were also under pressure in the overseas subsidiaries due to an increase in raw material costs, and wear king of foreign currencies against US the dollar pa, particularly in Japan and Korea.

The near-term outlook for non-specialty films could be challenging, and the Company will continue to expand on specialty films growth.

BOPET line was commissioned two days before the end of Q2. Like BOPP, our focus here too would be to rapidly develop value add and specialty products.

Despite the drop in this quarter's earnings, the financials remain strong with annualized ROCE and ROE at 25% and 32% respectively.

Commenting on Company’s performance Pankaj Poddar, group chief executive officer, Cosmo First, said, “In film flimsiness, we have recently developed some unique products which will support specialty sales growth. Our Specialty Chemicals business doubled its revenue YOY. Our Petcare vertical has grown into 6 experience centers at the Q2 end and is supported by online one portal and the one app is gaining rapid recognition.”