Cosmo Ferrites Limited: Expansion with stronger results
Published on : Thursday 04-08-2022
New Delhi, August 02, 2022: Cosmo Ferrites Limited, a leading manufacturer and exporter of Soft Ferrites and an emerging player in wire wound magnetic components today declared its financial results for the quarter ended June 2022.
The net revenue and EBIDTA increased on YoY basis backed by higher volumes (20%), increased sale of technologically advanced ferrite cores, higher raw material prices and improved internal efficiencies. The results were impacted by non-recurring fixed costs of around Rs 1.5 crore.
As at June 2022, the Company’s ROCE stands at 42%. Net Debt at Rs 54 crore is 1.7 times of EBITDA.
Commenting on Company’s performance Mr Ambrish Jaipuria, Chairman, Cosmo Ferrites Ltd, said “During the end of the quarter, new Soft Ferrites manufacturing capacity has kicked off operations which will enhance Company’s capacity by 50%. The Company has also placed an order for a Top Hat Kiln to meet customers growing demand for higher permeability ferrite cores (technologically advanced ferrite cores), which is expected to start operations from FY24 and will further improve sales mix towards value add products.”