Cosmo Films Q1 revenue at Rs 186.93cr, up by 33.71%

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Cosmo Films Q1 revenue at Rs 186.93cr, up by 33.71%

This article was posted on Aug 2, 2008 and is filed under Press Releases

Cosmo Films Limited, one of the market leaders in manufacturing & exporting of BOPP Films in India announced their Q1 ending results with total income of Rs. 186.93 crore for the Quarter ending June 30th, 2008

Q1 FY 2008-2009 Financial Performance (compared with Q1 FY 2007-2008)

Total Income improves 33.71% to Rs. 186.93 crore from Rs. 139.80 crore
PBIDT increases 59.89% to Rs. 23.76 crore from Rs. 14.86 crore
PAT grows 59.73% to Rs. 14.52 crore from Rs 9.09 crore
EPS better at Rs. 7.47 from Rs. 4.68
Commenting on the company’s performance, Mr. Ashok Jaipuria, Chairman and Managing Director, Cosmo Films Ltd said “The Company’s performance indicates significant growth during the quarter. The increase in revenues have been due to our focus on value add products as well as strengthening our presence both in domestic and export markets.
There has been significant volatility in the polymer market in this quarter with resin pricing going up significantly. Inspite of these headwinds, Cosmo Films has been able to pass on the cost.”

He further added “In tandem to company’s expansion strategy a new 2400 mm wide metallizer with an investment outlay of Rs. 15 crore, will be will be added to the existing lines at Baroda by March 2009.”

Key Developments:

Procurement of new metallizer:

Cosmo Films Ltd. made an investment of Rs 15 crore towards procurement of 2400 mm wide metallizer for further capacity addition in its metallizing business.

The metallizer will be operational by March 2009. This metallizer has advanced features with a speed of 840 metres per minute. The Plasma Treater an additional component to the metallizer will help in improving the bonding between film & metal.

Participation in Interpack 2008:

The company participated in Interpack 2008 the largest global exhibition for packaging at Düsseldorf held every 3 years and received tremendous response while obtaining leads to different parts of the world adding to Cosmo’s reputation globally.

Awarded Dun & Bradstreet and Export Credit Guarantee Corporation of India Ltd. (ECGC) Top Exporter Award in India:

Cosmo Films Ltd. received the top exporter award for top exporting company with a presence in 50 countries worldwide. The company was felicitated with this award among various competitors competing across 11 sectors and four revenue brackets with the revenue criteria of more than Rs 500 Crore for large exporter category. Cosmo Films Ltd., has a turnover of Rs 585.16 Crore for FY ending 08 of which about 57 % amounting to Rs. 332 Crore accounts from exports sales segment.

Expansion plans:

The company plans to increase its capacities from 56,000 MT of BOPP Films, 24,000 MT value add Film to 1,36,000 MT of BOPP films, 33,500 MT value add Film by Fiscal 2010 making it one of the largest players in this segment.

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