Cosmo Films is also anemerging player in polymers, specialty chemicals, and pet care.
Leading manufacturing company Cosmo Films announced its January-March quarter results for the financial year 2020-21, reporting a net profit of Rs 74.45 crore on a consolidated basis. According to a statement shared by Cosmo Films, the company’s net profit jumped 257 per cent – more than twice on a year-on-year basis, as its profit in the corresponding quarter of the previous fiscal was Rs 20.85 crore. The growth in profit was driven by higher specialty sales, better-operating margins, as well as a robust performance by subsidiaries.
“Cosmo Films is a name to reckon globally for newer, innovative solutions. The specialty films sales have grown YoY in the last three years and growth rate in FY21 surpassed 20 per cent despite the base becoming larger each passing year reaffirming the company’s growth strategy through continuous investment in R&D, quality, customer satisfaction,” said Mr. Pankaj Poddar, CEO, Cosmo Films Limited.
On Friday, May 21, shares of Cosmo Films settled 1.35 per cent higher at Rs 805.80 apiece on the BSE. The company is said to be a global leader in films for labeling, packaging, lamination, as well as synthetic paper. It is also an emerging player in polymers, specialty chemicals, and pet care.