Cosmo First Limited commissions new BOPP film line at Waluj plant

Cosmo First, a global leader in films for packaging, lamination, labelling and synthetic paper announces the successful commissioning of new BOPP (Biaxially Oriented PolyPropylene) Film Line with Capex of Rs 400 crores+ at Company's existing manufacturing plant located at Aurangabad, Maharashtra. The new line boasts an annual rated capacity of 81,200 MT with the world's most advanced technology. With the commissioning of the new line, the Company's annual BOPP capacity will increase by approx. 40% to 2,77,000 MT.

Speciality sales at Cosmo First have been growing at a CAGR of 10% for the last 6 years. The new BOPP Line will support Cosmo in further expanding its product portfolio across speciality films and packaging. The Company plans to further strengthen its speciality films product portfolio with several new products in the pipeline, expected to be launched in the upcoming quarters.

Speaking on the development Mr Pankaj Poddar, Group CEO, Cosmo First, said, "We expect the line to get filled fast due to current favourable gap in demand and supply in the domestic industry. Further, the new BOPP film line shall be eligible for state govt incentives beside being the most cost-efficient line in India. The Company's focus will be on taking full leverage of the new investments including BOPP line and grow specialty film sales."

Shares of Cosmo Films Limited was last trading in BSE at Rs. 1187.35 as compared to the previous close of Rs. 1110.15. The total number of shares traded during the day was 80531 in over 2963 trades.

The stock hit an intraday high of Rs. 1221.15 and intraday low of 1088.05. The net turnover during the day was Rs. 95598078.00.

Source : Equity Bulls

Keywords

CosmoFilms INE757A01017 CosmoFirst NewBOPPFilmLine Capex Aurangabad