INDIA – Cosmo First Limited has reported robust financial results for Q1 FY25, showcasing significant improvements across key metrics.
The company’s net revenue rose to ₹690 crore (US$82.23m), marking a 5% increase from ₹658 crore (US$78.41m) in the same quarter last year.
This growth was driven by a strong performance in the specialty films segment, which now constitutes 69% of the total sales volume, up from 64% in FY24.
EBITDA for the quarter surged to ₹84 crore (US$10.01m), reflecting a substantial 52% year-over-year increase.
This improvement was attributed to higher specialty sales and enhanced domestic margins in the BOPP (Biaxially Oriented Polypropylene) film segment, supported by increased demand.
Additionally, Cosmo First’s BOPET (Biaxially Oriented Polyethylene Terephthalate) business, launched in September 2022, achieved its first positive EBITDA, contributing to its overall profitability.
The company’s specialty chemicals division also showed promising progress, having commercialized multiple chemistries for adhesives, coatings, and masterbatches.
This is expected to enhance EBITDA further and return on capital employed (ROCE) throughout FY25.
Looking ahead, Cosmo First plans to expand its specialty film business while capitalizing on cost rationalization opportunities.
The newly launched rigid packaging vertical, which includes injection moulding from Q1 FY25, also shows encouraging growth.
CEO Pankaj Poddar emphasized the company’s commitment to consolidation in its Zigly vertical during the first half of FY25, aiming to position it for the next growth phase.
Early this year, the company won two awards for its continuous efforts towards sustainable innovation and staying ahead of the curve.
Cosmo First bagged the prestigious Forbes Asia Best Under a Billion Companies Awards for its relentless drive for sustainable innovation.
The Indian Flexible Packaging and Folding Carton Association (IFCA) Star Award 2023 was conferred on Cosmo First’s products including Super Barrier BOPP film and High Puncture Resistant BOPP film.
Sharing his thoughts on this recognition, Pankaj Poddar, Group chief executive officer, Cosmo First said, “We are honored to be recognized with these two prestigious awards, which indicate our commitment to innovation. At Cosmo First Limited, innovation is ingrained in our daily operations.
“Our teams constantly push boundaries to pioneer solutions that drive our industry forward in an eco-friendly manner. These awards motivate us to keep raising the bar. Together, we will continue delivering cutting-edge products that responsibly create value.”
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