According to the results, the net revenue for Q4 stands at Rs 715-crore. The board of directors had recommended a dividend of Rs 5 per equity share for the financial year FY 22-23 subject to approval of shareholders in the annual general meeting.

During the quarter, commodity films margins in both BOPP and BOPET suffered a further decline severely impairing the profitability of the industry. Cosmo, with over two thirds of its revenue coming from speciality films, could withstand the margin pressure and outperformed the industry once again.

The company expects its position to improve in the coming months, bringing an end to QoQ declining phase, happening for the last 3 quarters. The company will continue to build its speciality products portfolio and maintain its lead over the other industry players.

The company’s pet care vertical continues to grow rapidly and clocked monthly run rate revenue (GMV) of Rs 2-crore from its 15 experience centres and increasing online presence through its website and mobile app. An acquisition opportunity in the online pet care space is in the final stage and is expected to be closed soon. This would further accelerate the growth of the pet care vertical.

The speciality chemical subsidiary is set to launch newer adhesives which together with healthy growth in the masterbatch vertical would enable the subsidiary to have further growth in FY 23-24.

The company’s balance sheet remains strong with substantial cash reserve and net debt to EBITDA of about one time.

The board of directors had recommended a dividend of Rs 5 per equity share for the financial year FY 22-23 subject to approval of shareholders in the annual general meeting. This coupled with the 1:2 bonus in June 2022 and share buyback with tax-free handsome gain over the market price in February 2023 affirms the company’s commitment to provide regular returns and share prosperity with the shareholders.

Pankaj Poddar, Group CEO, Cosmo First, said, “The company has launched many new specialty films, including shrink for packaging and non-packaging applications. Several other speciality films for non-packaging applications are in the pipeline and should hit the market in coming quarters. All these would further strengthen the company’s position in speciality films business.”