Cosmo Films has declared its financial results for the quarter ended June 2019. Q1 FY20 net revenue increased 5% on YOY basis mainly on the strength of growth of sales volume. The company achieved EBITDA of Rs.60.6 crores during the quarter due to higher speciality sales, continued improvement in operational efficiencies, improvement in US operations and better BOPP films margins.
Pankaj Poddar, CEO, Cosmo Films said, “BOPP films margins have improved versus last year, though they are yet to reach the normalized levels. In the last few quarters, Cosmo has had many successful launches including sustainability projects (recyclable structures) with large consumer brands, improved and new versions of synthetic paper, and new varieties of label and industrial films. Going forward, the company shall continue to focus on speciality films with higher margins and lower capital expenditure yet requiring high level of research and development.”