Q1 2025 Cosmo First Ltd Earnings Call Transcript
Key Points
- Consolidated sales for the June '24 quarter increased by 5% compared to the previous year, reaching INR690 crores.
- EBITDA for the quarter improved significantly to INR84 crores from INR55 crores in the June '23 quarter.
- Specialty sales accounted for 69% of total volume in Q1 FY25, up from 64% in FY24, contributing to higher margins.
- The BOPET business, which started in September 2022, earned positive EBITDA for the first time in Q1 FY25.
- The company expects improved sales of specialty films and healthier domestic margins for FY25.
- Net debt stands at INR598 crores, which is close to 2 times EBITDA and 0.4 times equity.
- The company is planning a significant CapEx of INR300 crores to INR350 crores in the next 12 months, which may impact cash flow.
- Zigly, the petcare vertical, is still in the consolidation phase and is not yet profitable.
- The rigid packaging vertical is still ramping up and is expected to break even only by the end of FY25.
- BOPET margins, although improved, are still not at the desired level and the business has been underutilized.
Ladies and gentlemen, good day, and welcome to the investor call of Cosmo First Limited to discuss the Q1 FY25 results. Today, we have with us from the management, Group CEO, Mr. Pankaj Poddar; and CFO, Mr. Neeraj Jain.
Starting off with the statutory declaration, certain statements in the conference call may be forward looking. These statements are based on management's current expectations and are subject to uncertainties and changes and circumstances. These statements are not the guarantees of future results.
(Operator Instructions) Please note that this conference is being recorded.
Now may I request Mr. Neeraj Jain to take us through his opening remarks, subsequent to which we can open the floor for the Q&A. Thank you, and over to you, Neeraj sir.
Well, thank you. Very good afternoon, ladies and gentlemen. I'm Neeraj Jain, Group CFO at Cosmo First, along with my colleague, Mr. Pankaj Poddar, Group CEO at Cosmo First. Our financial results for quarter one FY25 and
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