Cosmo Films has made announcement that the company envisages to spend Rs 2.2 billion by March 2010 to expand capacity with the aim to double up its revenue by fiscal 2010/11.

According to the sources, the company proposes to increase its capacity of bi-axially oriented polypropylene (BOPP), or plastic-based flexible packaging, to 138,000 metric tons from 58,000 metric ton by March 2010. It will also enhance thermal films capacity to 22,000 tons from 18,000 tons by next March.

The firm obtains 60% of its revenue from value-added BOPP, which also gives it an edge over competition.
Established in 1980, Cosmo Fims , manufacture Bi-axially Oriented Polypropylene Films.

The company counts Hindustan Lever, Nestle India, ITC, Britannia and Godfrey Philips among its customers, and envisages to increase funds for expansion via debt and convertible warrants issued to the promoters.

Stock of Cosmo Films, on Friday (Sep 26)  plummeted 1.16 per cent, to settle at Rs 89 on National Stock Exchange (NSE). The total volume of shares traded at the NSE was 5,021.