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Cosmo Films announces BOPP expansion and 1st interim dividend

Posted On: 2021-09-16 19:10:34 (Time Zone: IST)


Cosmo Films Limited, a Global Leader in Films for Packaging, Labelling, Lamination and Synthetic Paper and an emerging player in Specialty Chemicals, Polymers & Pet care today announced expansion by setting up the world's largest BOPP film production line at Aurangabad with annual rated capacity of 67,000 MT. The BOPP line will require investment of about Rs. 350 crores to be funded through internal accruals and debts and is expected to be commencing commercial production within FY 2024-25.

Backed by strong financial performance, the Company has also declared first interim dividend of Rs 25 per share for FY2021-22.

Commenting on Company's performance Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said "With current capacity expected to produce primarily speciality films (80%+) in next two years and projected BOPP film demand growth in India, the Company planned capacity expansion which will be world's largest production line with annual rated capacity of 67,000 MT with lowest cost of production.

The Company has also recently launched ZIGLY - India's first tech-enabled integrated petcare platform - through the launch of its website www.Zigly.com and the opening of its flagship experience center in New Delhi. Other growth plans i.e. Specialized BOPET line, focused towards growing specialty sales, expanding into Cosmo Specialty Chemicals are progressing well in line with the plan."

Shares of Cosmo Films Ltd., was last trading in BSE at Rs. 1491.9 as compared to the previous close of Rs. 1535.9. The total number of shares traded during the day was 15289 in over 2325 trades.

The stock hit an intraday high of Rs. 1550.05 and intraday low of 1489.9. The net turnover during the day was Rs. 23057233.


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