Cosmo First said that it has incorporated a wholly owned subsidiary in Indian named Cosmo Global Films.
Cosmo Global Films deals in packaging films, masterbatches, coating chemicals and chemical compounds including by products and joint products thereof.The company has obtained approval from Registrar of Companies, Ministry of Corporate Affairs, Government of India
Cosmo Films is engaged in the production of flexible packaging films. Company's products majorly comprise of BOPP Films, thermal films and coated films. In India, the company is currently having manufacturing facilities at Aurangabad and Shendra in Maharashtra and at Karjan in Gujarat.
The company's consolidated net profit declined 24.7% to Rs 73.23 crore despite of 2.4% jump in net sales to Rs 777.94 crore in Q2 FY23 over Q2 FY22.
Shares of Cosmo First were down 0.67% to Rs 724 on the BSE.
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