The company’s PAT rose to an impressive Rs. 32.9 crore for the quarter from Rs. 5 crore in the corresponding period last year. Cosmo Films has also registered increase in its EBIDTA for the period to Rs. 46.3 crore from Rs.16.8 crore in the corresponding quarter last year. The company registered a volume growth of more than 20% in this period riding on demand growth and wider penetration. Total revenue for the period was Rs. 389.8 crore compared to Rs. 361.7 crore in the corresponding period of last year, registering a growth of 8%, even while the sales prices reduced in line with the declining raw material prices.
The company has seen a 5% growth in speciality films over last quarter. The company’s power cost has remained similar albeit significant volume growth due to increased throughput and various energy efficiency initiatives. Along with these, tax expense for the quarter includes a reversal of tax of Rs 10.8 crore comprising Rs 3.4 crore pertaining to year ended 31 March 2015 and Rs 7.3 crore pertaining to six months ended September 2015.
Cosmo Films has seen a 5% growth in speciality films over last quarter
Better sales demand, growth in speciality films, significant savings in variable costs have been some of the driving factors for the company’s impressive performance this quarter. Commenting on the company’s quarter results, Pankaj Poddar, CEO of Cosmo Films, said, “Going forward, we intend to become one of the best examples of a global customer-centric organization meeting the speciality film needs of the flexible packaging, laminating and labelling industry. Our new expansion will enable us to become one of the lowest cost players in the commodity films segment as well.”
Packaging South Asia is the cooperating media partner for drupa 2016 which is scheduled to be held from 31 May to 10 June at Dusseldorf, Germany.