NEW DELHI, Jan. 28, 2021 /PRNewswire/ -- Cosmo Films Limited, a global leader in films for packaging, labeling, lamination and synthetic paper today declared its financial results for the quarter ended December 2020.
Cosmo Films Limited Consolidated Results: In Rs. Crores Q3 FY21 Q3 FY20 Dec 20 YTD Dec 19 YTD FY20 Net Revenue 572 580 1,613 1,679 2,204 EBITDA 112 77 304 202 281 PBT 88 52 228 126 163 PAT 63 36 162 93 113 EPS (in Rs.) (not annualized) 33.2 18.9 85.8 48.3 59.2 The Company posted highest EBITDA of Rs.112 crores during Q3 FY21 (despite 7% lower volumes) on the back of higher speciality sales (13% YOY), 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.
During the quarter the Company bought back 12.67 lacs shares at a price of Rs. 576 per share. The buyback reflects management's confidence in the company business strategy and growth prospects. Improvement in EPS, RoE, and RoCE will start coming from next quarter.
The Board of Directors have declared interim dividend of Rs 25 per share for FY 20-21 and fixed February 8, 2021 as the record date.
Commenting on performance of the company Mr. Pankaj Poddar, CEO, Cosmo Films Ltd.said, 'The Company has posted highest ever EBITDA during Q3, FY21 despite 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. The Company's subsidiary will soon start commercialization of textile chemicals developed through in-house R&D. The Company's sustainability drive is helping in reducing various wastages & carbon footprint and also contributing towards cost reduction. Specialized BOPET, Specialized Chemicals and Pet Care projects are progressing as per plan'.
About Cosmo Films Limited Established in 1981 and founded by Mr. Ashok Jaipuria, Cosmo Films today is a global leader in specialty films for packaging, lamination, labeling and synthetic paper. With engineering of innovative products and sustainability solutions, 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 and also the largest producer of thermal lamination films in the world. Its customer base is spread in more than 100 countries with sales & manufacturing units in India and Korea and additionally sales & distribution base in Japan, USA, Canada and Europe.