Cosmo Films changes name to ‘Cosmo First’

Cosmo declared its financial results for the quarter that ended in March 2022 with an increase by 31% and a new name for its company.

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Pankaj Poddar, Group CEO, Cosmo Films
Pankaj Poddar, Group CEO, Cosmo Films Ltd welcomes the changes

Cosmo Films Limited, a name in films for packaging, labeling, lamination, and synthetic paper and an emerging player in specialty chemicals, polymers & petcare declared its financial results for the quarter that ended in March 2022.

The Q4FY22 EBITDA has increased by 31% on the back of higher specialty sales, better operating margins, and an uptick in performance by subsidiaries. Enhanced EBITDA together with a lower effective tax rate led to an increase in PAT by 45%. FY22 ROCE and ROE stands at 29% and 39% respectively with an increase in EPS to Rs.222 per share. Net debt at Rs.303 crores is less than 0.5 times EBITDA.

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Considering that the company’s business activities have expanded beyond films into specialty chemicals (masterbatches, coatings, textile chemicals and soon-to-launch adhesives), D2C petcare and soon-to-launch films for consumer applications, the board of directors of the company at its meeting held on 9 May 2022 have recommended a change in name of the company from “Cosmo Films Limited” to “Cosmo First Limited”, subject to the approval of its shareholders. Cosmo First Limited stands for a four-decade Indian business conglomerate that thrives on innovation to unlock value in diverse sunrise sectors such as films, consumer care, specialty chemicals and D2C pet care (under Zigly brand).

 

The board of directors has also recommended, a bonus issue of 1 equity share of Rs 10 each for every 2 equity share of Rs 10 each held by the shareholders of the company as on the record date. The bonus aims to showcase the management’s confidence in the company’s business strategy and growth prospects.

 

Commenting on the company’s performance Pankaj Poddar, Group CEO, Cosmo Films Ltd. said “All through our journey, we have prided ourselves in our ability to provide industry-first niche solutions in the areas of packaging, lamination, industrial and labeling applications.”

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