By: ICN Bureau
Last updated : May 21, 2021 8:00 pm
Several textile chemical products, each with specific USPs are currently under trials with textile manufacturers and processors
Cosmo Films Limited, a global Leader in films for packaging, FY21 profit after tax has increased 110% from FY20 on the back of higher speciality sales, better operating margins, and uptick performance by subsidiaries.
FY21 ROCE and ROE stands at 22% and 30% respectively while EPS increased by 115% to Rs. 127 per share. Net debt at Rs. 438 crores is close to 1 times to EBITDA.
Results for Q4 are even stronger than the first 3 quarters of the year driven by continued specialty films growth in Indian as well as overseas operations.
On the expansion front, construction of a specialized BOPET line has started and is running as per plan even with significant Covid related challenges. The internal consumption for Masterbatch is growing continuously and the external sales will start soon.
The company has successfully completed development of several textile chemical products, each with specific USPs. These are currently under trials with textile manufacturers and processors. Commercial launch would follow in H1 FY22. Pet care pilot launch will start in Q2 FY22 under the brand name “Zigly” and will provide a unique value proposition to Pet Parents across different channels.