First Limited today declared its financial results for the quarter ended Sept 2024.
The improvement in EBIDTA is backed by higher specialty sales, enhanced volume and better BOPP film margins. The Company has reached speciality sales of 70% of total volume in Q2, FY25 as against 64% in FY24. The Q2, FY25 EBITDA would have been higher but for one time inventory loss (drop in raw material prices during the quarter).
BOPET vertical (about 9% of Company’s sales for Q2, FY25) has also witnessed better margins and posted double digit EBITDA in Q2, FY25 for the first time since its commissioning in FY22-23.
The Specialty Chemical subsidiary is advancing well to achieve high teens EBITDA and 30%+ ROCE in FY25.
Commenting on Company’s performance, Mr. Pankaj Poddar, Group CEO, Cosmo First Ltd said,
“For Film business, the Company’s focus remains on specialty film and cost rationalization opportunities. Rigid packaging vertical launched in H2, FY24 is growing in line with plan and expected to achieve profitability and 90%+ capacity utilization in FY26. In Zigly, we have launched multiple Private labels and enhanced our Vet care services to improve gross margins as well as optimize certain costs thereby reducing losses.”
www.cosmofilms.com
