Cosmo Films posts highest ever EBITDA during Q3 – Subsidiary to start commercialization of textile chemicals
29 January 2021: Cosmo Films Ltd, a leader in films for packaging, labeling, lamination and synthetic paper, has posted highest ever EBITDA during Q3, FY21. There has been 7% lower volume partly due to de-bottlenecking one large production line to enable specialty films production. The Company is set to further grow the specialty films production with the same. Its subsidiary will soon start commercialization of textile chemicals developed through in-house R&D, according to an official statement of the company.
The Company posted highest EBITDA of Rs.112 crores during Q3 FY21, better operating margins from last year and inventory gain of Rs. 7 crores due to raw material price increase. During the nine months ended December 31, 2020, the Company had surpassed the profitability numbers for the previous full year.
In a statement, Pankaj Poddar, CEO, Cosmo Films said, “The Company’s sustainability drive is helping in reducing various wastages and carbon footprint and also contributing towards cost reduction. Specialized BOPET, Specialized Chemicals and Pet Care projects are progressing as per plan.”
Established in 1981 Cosmo Films over the years has been partnering with worlds’ leading F&B and personal care brands and packaging & printing converters to enhance the end consumer experience. Company’s film offerings include BOPP and CPP films. Today, the company is the largest exporter of BOPP films from India with customer base spread in more than 100 countries. It has manufacturing units in India and Korea and additionally sales and distribution base in Japan, USA, Canada and Europe.