Mumbai, 16th August 2023: 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 that ended June 2023.
Enhanced Q1 results from Q4 are mainly on the back of movement towards normalization of export orders which was impacted during the last two quarters due to recession fears/chip shortages.
The company is optimistic about further normalization of export orders and Indian demand.
Commenting on Company’s performance Mr. Ambrish Jaipuria, Chairman, of Cosmo Ferrites Ltd. said “The new kiln for valued added specialty cores has commenced operations and should have a positive margin impact. The Company is working on several medium-term growth prospects, particularly in the automotive sector, and expects customer approvals in FY 23-24 which should lead to significant margin expansion.”