New Delhi, 29th May 2023: Cosmo First Limited today declared its financial results for the
quarter ended March 2023.
During the quarter, commodity films margins both BOPP and BOPET suffered a further decline
severely impairing the profitability of the industry. Cosmo with over two third of its revenue
coming from speciality films could withstand the margin pressure and outperformed the
industry once again.
The Company expects the position to improve in the coming months bringing an end to QoQ
declining phase, happening since last 3 quarters. The Company will continue to build its
speciality products portfolio and maintain its lead over the other industry players.
The Company’s Petcare vertical continue to grow rapidly and clocked monthly run rate revenue
(GMV) of Rs. 2 crores from its 15 experience centres and increasing online presence through its
website and mobile Apps. An acquisition opportunity in the on-line petcare space is in the final
stage and expected to be closed soon. This would further accelerate the growth of the Petcare
vertical.
The Speciality Chemical subsidiary is set to launch newer adhesives which together with
healthy growth in masterbatch vertical would enable the subsidiary to have further growth in
FY 23-24.
The Company’s balance sheet remains strong with substantial cash reserve and net debt to
EBITDA of about one time.
The Board of Directors had recommended dividend of Rs 5 per equity share for the financial
year FY 22-23 subject to approval of shareholders in the annual general meeting. This coupled
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with the 1:2 bonus in June 2022 and share buyback with tax free handsome gain over the
market price in February 2023 affirms the Company’s commitment to provide regular return
and share prosperity with the shareholders.
Commenting on Company’s performance Mr. Pankaj Poddar, Group CEO, Cosmo First Ltd. said
“The Company has launched many new specialty films including shrink for packaging and nonpackaging
applications. Several other speciality films for non-packaging applications are in the
pipeline and should hit the market in coming quarters. All these would further strengthen the
Company’s position in speciality films business.”
About Cosmo First Limited
Founded in 1981 by Mr. Ashok Jaipuria, Cosmo First today has a presence across 100+ countries
around the globe. Cosmo First is a global leader in specialty films and an emerging player in
specialty chemicals (Masterbatches, Adhesive & Coating chemicals) along with digital first Omni
channel Pet care business under the brand name ‘Zigly’.
