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Containers & Packaging company Cosmo First announced Q3FY24 results:
Consolidated Financial Highlights
- Net Revenue: The net revenue for Q3FY24 was reported at Rs 625 crore, a decrease from Rs 664 crore in Q2FY24 and Rs 730 crore in Q3FY23.
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): EBITDA stood at Rs 56 crore in Q3FY24, down from Rs 72 crore in Q2FY24 and Rs 86 crore in Q3FY23.
- EBITDA Margin: The EBITDA margin was 9.0% in Q3FY24, showing a decline from 10.9% in Q2FY24 and 11.7% in Q3FY23.
- PBT (Profit Before Tax): PBT for the quarter was Rs 10 crore, a significant decrease from Rs 29 crore in Q2FY24 and Rs 49 crore in Q3FY23.
- PAT (Profit After Tax): PAT was reported at Rs 11 crore in Q3FY24, compared to Rs 22 crore in Q2FY24 and Rs 46 crore in Q3FY23.
- EPS (Earnings Per Share): The EPS for Q3FY24 was Rs 4.4, which is less than the Rs 8.3 in Q2FY24 and Rs 16.9 in Q3FY23.
Operational Highlights
- The speciality film business remains a strong contributing factor despite a reduction in BOPP and BOPET margins.
- The company has launched new products including metallized capacitor film and Rigid Packaging. These have been well received and are expected to achieve full capacity utilization shortly.
- Zigly, the pet care business, has improved its IT infrastructure aiming for better returns on advertising spends and other performance metrics.
- The Specialty Chemical subsidiary is projected to contribute positively to EBITDA and ROCE starting from FY25.
Commenting on the Company’s performance Pankaj Poddar, Group CEO, Cosmo First said “While short-term challenge remains due to adverse packaging film margin, the Company continues to build speciality films vertical and plans to launch high value-added sun control film (Cosmo Sunshield) in FY25. In the next 12-18 months, Speciality BOPET films, Sunshield films, Rigid Packaging and Specialty Chemicals would start adding to the Company’s overall profitability.
With the exponential growth of the Petcare industry in India, Zigly would surely be a winner and a significant wealth creator for the Company’s shareholders”
FAQ’s on Cosmo First Ltd Shares
