Cosmo Films has announced its financial results for the quarter and year ended March 2021.
During FY21, PAT has more than doubled (110 percent up from FY20) on the back of higher specialty sales, better operating margins, and uptick performance by subsidiaries, according to Cosmo.
FY21 ROCE and ROE stand at 22 percent and 30 percent respectively while EPS increased by 115 percent (vs PY) to 127 INR (1.74 USD) per share. Net debt at 4.3 billion INR (60 million USD) is close to 1 time 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, the company said.
Commenting on the company’s performance, Pankaj Poddar, CEO, Cosmo Films, said: ‘Cosmo Films is a name to reckon globally for newer, innovative solutions. The specialty films sales have grown YoY in the last 3 years and the growth rate in FY21 surpassed 20 percent despite the base becoming larger each passing year reaffirming the company’s growth strategy through continuous investment in R&D, sales and marketing, employee practices, quality and customer satisfaction. The significant share of specialty films in the overall sales has made a strong foundation for Cosmo and will help the company do well even in the tougher times.
‘On the expansion front, construction of 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 completed the development of several textile chemical products, each with specific USPs. These are currently under trials with textile manufacturers and processors. The commercial launch would follow in H1FY22. 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.’