The announcement was made after market hours yesterday, 19 December 2018.

Meanwhile, the S&P BSE Sensex was down 173.84 points, or 0.48% to 36,310.49.

On the BSE, 12,000 shares were traded in the counter so far compared with average daily volumes of 1,608 shares in the past two weeks. The stock had hit a high of Rs 235.25 and a low of Rs 225 so far during the day. The stock hit a 52-week high of Rs 389 on 22 December 2017. The stock hit a 52-week low of Rs 188 on 20 July 2018.

Cosmo Films recently launched sterilisable conduction sealing film for wad and lidding applications for PP and PE containers. This film can withstand high temperatures during sterilization process, which is used to increase the shelf-life of the product. The newly developed sealing film is a clear, one side corona treated and other side heat sealable film.

The film offers exceptional seal integrity while it also offers improved convenience to the consumers because it is easy to open and peel cleanly without splitting. Apart from offering excellent optical properties and printability, this film is safe for direct food contact. This film can be used as a mono layer or as a sealant layer in a laminated structure with other substrates like aluminium foil. It can be used in roll or pre-cut form (after lamination with other substrates) based on the requirements of the customers.

The film is used primarily in dairy industry for flavoured milk; food & beverage segment for juices, energy drink, bakery products; pharmaceutical industry; agro chemicals and cosmetics industry.

On a consolidated basis, net profit of Cosmo Films declined 50.27% to Rs 10.12 crore on 13.74% rise in net sales to Rs 531.40 crore in Q2 September 2018 over Q2 September 2017.

Cosmo Films is a global leader in speciality films for packaging, lamination and labeling applications.