Cosmo Films has introduced a new bi-axially oriented polypropylene (BOPP) based coated film which is designed to slowly release a fragrance which lasts a long time.

The film can be widely used for applications like catalogues, book covers, various bonds, magazines, visiting cards, packaging for cosmetics, and personal care items.

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Cosmo Films has announced plans to re-commence the installation of a speciality polyester films line (Biaxially-Oriented Polyethylene Terephthalate) by September quarter of 2022-23.

The new line will be commissioned at the Waluj plant site in Aurangabad, Maharashtra, India with a capacity of 30,000 MT per annum. This plant already houses BOPP lines, extrusion coating lines, chemical coating lines, metallizers and a CP production line will complement the existing BOPP capacity of 200,000 MT per annum and allow Cosmo Films to offer a more comprehensive speciality product basket for flexible packaging, labelling, lamination, and industrial applications.

The project cost is estimated to be Rs 300 crore, which will be financed through a mix of internal accruals and loans. The company's key financial parameters for the quarter ended June 2020 are well placed - debt/ EDBITA @1.8 times and net debt to equity @ 0.7 times.

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The Board of Cosmo Films at its meeting held on 01 September 2020 has approved resuming further investment into the new line for Specialized BOPET Film at Aurangabad, Maharasthra, India which was on holdsince November 2018. The revised project cost will be Rs.300 crore and will be financed through a mix of internal accruals and loans. The commercial production will commence by Q2 FY2022-23

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Net profit of Cosmo Films rose 69.15% to Rs 46.99 crore in the quarter ended June 2020 as against Rs 27.78 crore during the previous quarter ended June 2019. Sales declined 11.04% to Rs 481.29 crore in the quarter ended June 2020 as against Rs 541.02 crore during the previous quarter ended June 2019.

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