Cosmo Films, a leading global player in speciality BOPP films, has declared its financial results for the first quarter ended 30 June 2016. The company reported an increase of 2.7% in its net profit to Rs.18.9 crore for Q1FY17, as compared to Rs. 18.4 crore in the corresponding quarter of last fiscal.
The total income for the quarter ended 30 June 2016 stood at Rs. 382.5 crore as compared to Rs. 408.9 crore in Q1FY16 on account of reduced raw material prices being passed on to customers although there is volume growth of 6.3% on account of improvement in manufacturing lines efficiency.
Cosmo Films’ Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1FY17 stood at Rs. 44.7 crore as compared to Rs. 48.5 crore in Q1FY16. India operations EBITDA has improved to Rs. 50.8 from Rs. 48.9 crore in Q1FY16. The impact from higher margins in Q1FY16 on account of temporary polypropylene shortage has been addressed on the back of volume growth of 6.3% and growth in speciality films sale in excess of 10%. The subsidiaries continue to be in improvement trajectory though there is reduction in reported EBITDA due to non-recurring inventory reserve, hedging losses on Japanese Yen in Q1FY17 (versus hedging gains in Q1FY16) and one time gain in Q1FY16 from retrospective reversal of custom duty in USA.
Commenting on the financial performance of the company, Pankaj Poddar, CEO, Cosmo Films said, “India operations performance has improved on back of higher volumes and healthy increase in speciality sales. We continue to be on an improvement trend in subsidiaries also although there is reduction in reported EBITDA due to non-recurring items.”
Packaging South Asia — authentic, impactful and influential
An English-language packaging industry B2B platform in print and web, Packaging South Asia is in its 19th year of publication. We do not make any claims about being the best or the most widely read. However, if you are interested in targeting the Indian and South Asian markets to sell equipment, technology, software, and consumables, we can help.
To improve your marketing and grow sales, talk to us. Our research and consulting company IppStar [www.ippstar.org] can assess your potential and addressable markets in light of the competition. We can discuss marketing, communication, and sales strategies for market entry and growth.
Suppliers and service providers with a strategy and budget for targeted marketing can discuss using our hybrid print, web, video, and social media channels to create brand recognition linked to market relevance. Our platform and channels are differentiated by hands-on practice and an understanding of business and financials. Our team, including some of the best technical writers, is ready to meet you and your customers for content.
India and South Asia’s fast-growing packaging industry is continuously expanding capacities with efficiency and appropriate innovative technologies. Get our 2025 media kit and recalibrate your role in this dynamic market. Enhance your visibility and relevance to existing markets and turn potential customers into conversations. Ask for a sample copy of our monthly or two weekly packaging eZines.
