Crude drop to help profit; cutting debt burden: Cosmo Films

The current drop in crude oil price has shown a significant gain for many companies, Cosmo Films being one of them, is expecting revenue gains.In an interview with CNBC-TV18, Pankaj Poddar, CEO of the company said that Cosmo Films is seeing strong traction in its business. "We will be having our board meeting on October 21 and will be sharing our results," he said.There has been a steady increase of promoters stake in the company as well. The promoters held stake has increased from 42.84 percent in June 2015 to 43.32 percent as of August 26, 2015, Poddar said.Another positive seen this quarter is the reduced debt level.Poddar said that the current debt level has decreased from Rs 478 crore in the June quarter to close to Rs 450-460 crore.Below is the verbatim transcript of the interview. Mangalam: There has been a significant expansion in margins in the last quarter itself. So, at 11.6 percent, do you think it is sustainable over the next few quarters as well or what is the sustainable level for your EBITDA margins? A: The quarter which has just ended, though obviously we have to finalise the results, but the quarter again, looks good. I would not be able to forecast the future, but right now we are going strong. Reema: Did you reduce any debt in the quarter gone by? A: We have reduced some debts again, the final numbers have yet to come to me, but I believe, yes, we have reduced some debt and current debt levels are almost around Rs 450-460 crore. Reema: And what did it stand at as on the June quarter? A: June quarter was Rs 478 crore. Reema: So, it has come down by Rs 20-30 crore. A: So, if you really see in September 2013, we had a debt of almost like Rs 650 crore. So, in last two years, from September to September, we have reduced our debt by almost Rs 200 crore.