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PACKAGING

Cosmo Films to set up a new line for speciality polyester (BOPET) films
Saturday, 05 September, 2020, 08 : 00 AM [IST]
Our Bureau, New Delhi
Cosmo Films Ltd has announced plans to re-commence the installation of speciality polyester films line (Biaxially-Oriented Polyethylene Terephthalate) by the second quarter of 2022-23. The new line will be commissioned at the Waluj plant site in Aurangabad, with a capacity of 30,000 MT per annum. This plant already houses BOPP lines, extrusion coating lines, chemical coating lines, metallisers and a CPP line.

The new production line will complement the existing BOPP capacity of 200,000 MT per annum and allow the company to offer a more comprehensive speciality product basket for flexible packaging, labelling, lamination and industrial applications.

The project cost is estimated to be Rs 300 crore, which will be financed through a mix of internal accruals and loans. The company’s key financial parameters for the quarter ended June 2020 are well placed. Debt/EBITDA at 1.8 times and net debt to equity at 0.7 times.
Pankaj Poddar, CEO, Cosmo Films Ltd, said, “Speciality BOPET is a niche segment which caters to multiple application segments, with high margins and opportunities for import substitution as well as worldwide exports. The new specialty BOPET line shall be unique and a majority of the products made on the line would focus on sustainability and creation of a greener future as the key theme. The Debt/EBIDTA and other financial ratios expect to remain in a comfortable range even post the capex.”

BOPET films (Biaxially-Oriented Polyethylene Terephthalate films) offer high tensile strength, chemical and dimensional stability, transparency, reflectivity, gas and aroma barrier properties and electrical insulation.
 
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