Cosmo Films surges on successful commissioning of new unit in Aurangabad

Cosmo Films advanced 4.14% to Rs 49 at 09:54 IST on BSE, after the company successfully commissioned its new state-of-art manufacturing facility at Shendra, SEZ, Aurangabad, Maharashtra.

The announcement was made after market hours on Friday, 20 September 2013.

Meanwhile, the BSE Sensex was down 169.58 points, or 0.84%, to 20,094.13

On BSE, 1,461 shares were traded in the counter as against an average daily volume of 2,448 shares in the past one quarter.

The stock hit a high of Rs 50 and a low of Rs 48.50 so far during the day. The stock had hit a record high of Rs 93.45 on 10 October 2012 and a 52-week low of Rs 44.20 on 28 August 2013.

The small-cap stock had underperformed the market over the past one month till 20 September 2013, falling 0.21% compared with the Sensex's 11.06% rise. The scrip also underperformed the market in past one quarter, sliding 18.25% as against Sensex's 8.25% rise.

The company has an equity capital of Rs 19.44 crore. Face value per share is Rs 10.

Cosmo Films said on Friday, 20 September 2013 that the company has successfully commissioned its new state-of-art manufacturing facility at Shendra, SEZ, Aurangabad, Maharashtra. The new plant had commissioned and started the commercial production on 1 September 2013, the company said. With the commissioning of this new facility, the approximate installed capacity of the company now stands at 130,000 tonnes per annum (TPA) for BOPP, 40,000 TPA for thermal films and 8,000 TPA for metalized films. This new plant would mainly be dedicated to exports, the company said.

Cosmo Films said that the successful commissioning of this new facility will contribute to phenomenal growth in revenues of the company in FY 2013-14. With the establishment of this new facility coupled with its initiatives in Research & Development, the company said it expects to continue its growth trajectory

On a consolidated basis, Cosmo Films reported net loss of Rs 6.40 crore in Q1 June 2013 as compared to net profit of Rs 6.07 crore in Q1 June 2012. Net sales fell 12.6% to Rs 295.23 crore in Q1 June 2013 over Q1 June 2012.

Cosmo Films manufactures bi-axially oriented polypropylene (BOPP) film.

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