Chemicals and Petrochemicals company Cosmo Films announced Q3FY22 results: Q3FY22 EBITDA has increased by 44% to Rs 161 crore Increase in PAT by 65% to Rs 104 crore in Q3FY22 The Board of Directors has declared second interim dividend of Rs FY22. Commenting on Company's performance Mr. Pankaj Poddar, Group CEO, Cosmo Films Ltd. said, "In coming years, the Company's growth will be driven by Specialized Polyester line (commissioning in FY 23) and new BOPP line (commissioning in FY25), continuing focus on specialty sales and diversification into specialty chemicals & Pet care business (under Zigly brand). Zigly's pilot launch has delivered better than the forecast and the Company looks forward to rolling out its digital first Omnichannel business model. Textile Chemicals business which started commercial production in Q2 FY22 has taken off well. Within the first three months the Company has commercialized 40+ products and has started supplies to 40+ customers. The Company continues to conduct extensive trials with the customers and expects to add newer products and customers in the coming months. The Company has also published its first report on sustainability and ESG initiatives on its website. The Company continues to work on several sustainability projects which shall further create favorable environmental impact besides cost optimization." Result PDF
Cosmo Films post 96% growth in quarterly EPS Q2FY22 EBITDA has increased by 54% on the back of higher speciality sales (20%+ growth), better operating margins and uptick performance by subsidiaries. Enhanced EBITDA together with lower finance cost and lower effective tax rate led to increase in PAT by 83%. Increase in EPS was still higher at 96% due to impact of buyback of shares in December 2020. During the quarter, Company had announced 1st interim dividend of Rs.25 per share (equivalent to the full year dividend paid in the last financial year), which has been paid in Oct’21. Commenting on Company’s performance Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said “During the quarter, the Company launched its Pet Care brand “Zigly” with the opening of its first Experience Centre in Delhi, launch of mobile van service in NCR and launch of the e-commerce platform. These Omni-channel offerings will provide unique convenience and value proposition to Pet Parents. Initial response is propitious and the Company plans to significantly expand its foot pint both in digital and offline (experience centers, stores and vans) over the coming quarters. The newly announced BOPP line will be the largest line and both BOPET and BOPP lines will allow Company to also expand its specialty sales. The Company has ordered/ ordering several other value added assets for further growth in the 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 organisation.” Result PDF