Cosmo First publishes December quarter results

Cosmo First has declared its financial results for the quarter ended December 2023 with a net revenue of INR 625 crore (USD 7.5 billion) and EBITDA of 9 percent. 

Cosmo First withstood the disorderly market movements and outperformed the industry at large on the strength and growth of its speciality film business. The near-term outlook in terms of BOPP and BOPET margins remained hazy.  

The company recently launched metallized capacitor film for electronic industry and rigid packaging for FMCG industry. Market response had been very good, and the company expected to hit full capacity utilization in the next 2-3 quarters to add to EBITDA earnings.

Zigly, the company’s pet care division, has undergone revamping of its IT infrastructure making it future ready for harnessing the exponential growth of pet care industry in India. The marketing attribution has been rapidly improving with improvement in RoAS (Return on Advertising Spends) and other key performance parameters.

The speciality chemical subsidiary has progressed as per plan and was at the cusp of delivering double digit EBITDA and high teens ROCE from FY25.

The company’s credit rating has been re-affirmed by CRISIL as AA- with stable outlook in January 2024.

Commenting on company’s performance Pankaj Poddar, group CEO, Cosmo First said: ‘While short term challenge remains due to adverse packaging film margin, the company continues to build speciality films vertical and plans to launch high value-added sun control film (Cosmo Sunshield) in FY25. In the next 12-18 months, speciality BOPET films, sunshield films, rigid packaging and specialty chemicals would start adding to the company’s overall profitability. With the exponential growth of pet care industry in India, Zigly would surely be a winner and a significant wealth creator for the company’s shareholders.’