Cosmo Films announces CPP film expansion

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 CPP film production line at Aurangabad with annual rated capacity of 25,000 MT. The CPP line will require investment of about Rs. 140 crores to be funded through internal accruals and debts and is expected to commence commercial production in 2 years.

Commenting on CPP line project Mr. Pankaj Poddar, CEO, Cosmo Films Ltd said, "Worldwide significant focus is being given on recyclability & sustainability of packing films. Monolayer structure of CPP and BOPP is most preferred structure to address sustainability requirements. With current CPP capacity running close to 100% utilization, the Company planned capacity expansion with the world's largest width line and lowest cost of production. Other growth plans i.e. Specialized BOPET line, BOPP line, focus towards growing specialty sales, expansion with Cosmo Specialty Chemicals and Zigly are progressing well in line with the plan."

Shares of Cosmo Films Limited was last trading in BSE at Rs. 1701.05 as compared to the previous close of Rs. 1701.55. The total number of shares traded during the day was 2916 in over 546 trades.

The stock hit an intraday high of Rs. 1726.00 and intraday low of 1690.85. The net turnover during the day was Rs. 4981906.00.

Source : Equity Bulls

Keywords

CosmoFilms INE757A01017 CPPFilm ProductionLine Expansion Aurangabad 25000MT