Cosmo Films posts 96% growth in quarterly EPS

Enhanced EBITDA together with lower finance cost and lower effective tax rate led to an increase in PAT by 83%
Cosmo Films posts 96% growth in quarterly EPS

Pankaj Poddar, Group chief executive officer, Cosmo Films

Photo - Cosmo Films

Cosmo Films, a Global Leader in films for packaging, labeling, lamination and synthetic paper and an emerging player in specialty chemicals, polymers & pet care today, declared its financial results for the quarter ended September 2021.

Q2FY22 EBITDA has increased by 54% due to higher specialty sales (20%+ growth), better-operating margins, and uptick performance by subsidiaries. Enhanced EBITDA, lower finance cost, and lower effective tax rate led to an increase in PAT by 83%. The increase in EPS (Earning per Share) was still higher at 96% due to the impact of the buyback of shares in December 2020.

Specialized Polyester line and new BOPP line to be commissioned in Q1FY23 and FY25 respectively, focus towards growing specialty sales, diversification into specialty chemicals and pet care would drive growth in coming years.

During the quarter, the company announced the 1st interim dividend of Rs 25 per share (equivalent to the full-year dividend paid in the last financial year), which was paid in October 2021.

<div class="paragraphs"><p>Pankaj Poddar, Group chief executive officer, Cosmo Films</p></div>
Cosmo Films announces BOPP expansion & 1st interim dividend of Rs 25

Commenting on Company’s performance, Pankaj Poddar, Group chief executive officer, Cosmo Films, said, “During the quarter, the Company launched its Pet Care brand “Zigly” with the opening of its first Experience Centre in Delhi, the launch of mobile van service in NCR and launch of the eCommerce platform. These omni-channel offerings will provide unique convenience and value propositions to pet parents. Initial response is propitious and the company plans to significantly expand its footprint both in digital and offline (experience centers, stores and vans) over the coming quarters.”

He further added, “The newly announced BOPP line will be the largest line and both BOPET and BOPP lines will allow the company also to expand its specialty sales. The company has ordered/ ordering several other value-added assets for further growth in specialty sales. Textile Chemicals production line is under commissioning, while the company continues to conduct extensive trials of its newly developed products. The company is working on several sustainability projects, which is bringing cost savings as well as making Cosmo a truly sustainable organization.”

Related Stories

No stories found.
FoodTechBiz.com
www.foodtechbiz.com