Cosmo First has reported its financial results for the quarter ended June 2024. The improvement in EBIDTA is backed by higher specialty sales as well as furtherance in domestic BOPP film margins due to enhanced demand. The company has reached specialty sales of 69% of total volume in Q1, FY25 as against 64% in FY24.
BOPET business started in Sept 2022 (about 4% of company’s sales in Q1, FY25) has also earned EBITDA for the first time since started operations.
The company is expecting improved sales of specialty films as well as domestic margins to remain at healthier levels in FY 25.
The specialty chemical has commercialized multiple chemistries (including for adhesives, coatings as well as masterbatches) which should facilitate improvement in EBITDA and ROCE in FY25.
Pankaj Poddar, group CEO, Cosmo First, said “The company’s focus remains on specialty film business and cost rationalization opportunities. The rigid packaging vertical launched in H2, FY24 is growing well with the addition of injection molding from Q1, FY25. We are focusing on consolidation in Zigly during the first two quarters before the next level of growth.”
