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Cosmo Films stock hits new high after announcing BOPP expansion and first interim dividend

September 21/2021

MOSCOW (MRC) -- 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 worlds largest BOPP film production line at Aurangabad with annual rated capacity of 67,000 MT, said the company.

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 Companys 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 worlds largest production line with annual rated capacity of 67,000 MT with lowest cost of production.

The Company has also recently launched ZIGLY Indias first tech-enabled integrated pet-care platform through the launch of its website 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."

As MRC informed earlier, Cosmo Films introduced BOPP based heat resistant (HR) films. The films have been engineered to work as printing layer replacing BOPET film in multi-layer laminates for various packaging applications in both food and non-food segments. The company has also launched a barrier version of the film.

According to MRC's ScanPlast report, Russia's PP shipments to the Russian market were 727,160 tonnes in the first six months of 2021, up by 31% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased. Supply of statistical copolymers of propylene (PP random copolymers) subsided.

Established in 1981 and founded by Mr. Ashok Jaipuria, Cosmo Films today is a global leader in specialty films for packaging, lamination, labeling and synthetic paper. With engineering of innovative products and sustainability solutions, Cosmo Films over the years has been partnering with worlds leading F&B and personal care brands and packaging & printing converters to enhance the end consumer experience. Its customer base is spread in more than 100 countries with sales & manufacturing units in India and Korea and additionally sales & distribution base in Japan, USA, Canada and Europe. The Company is strategically expanding beyond Films into Specialty Chemicals & Polymers as well as Pet care business.


mrcplast.com
Author:Anna Larionova
Tags:PP, PP block copolymer, homopolymer PP, PP random copolymer, PP-stat, lamination, BOPP films, packaging, Cosmo Films.
Category:General News
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