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

The BOPP line will require investment of about Rs350cr to be funded through internal accruals and debts and is expected to be commencing commercial production within FY 2024-25.

Sep 17, 2021 01:09 IST India Infoline News Service

Cosmo Films has y announced its expansion by setting up the world’s largest BOPP film production line at Aurangabad with an annual rated capacity of 67,000 MT.

The BOPP line will require an investment of about Rs350cr 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 Rs25 per share for FY2021-22.

Pankaj Poddar, CEO, Cosmo Films 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 world’s largest production line with an annual rated capacity of 67,000 MT with the lowest cost of production."

Poddar added, "The Company has also recently launched ZIGLY – India’s first tech-enabled integrated petcare platform – through the launch of its website www.Zigly.com 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."

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