Document Metadata

Strategic Perspective & Capex Update

  • ₹1,200+ Cr strategic capex completed in last three years with major capacities commissioned
  • Limited capex ahead with focus shifting from investment phase to value creation
  • Net debt at ₹1,166 Cr as of June 2026 (2.3x EBITDA vs 2.9x in June 2025)
  • Targeting net debt/EBITDA below 2.0x within 12-18 months
  • Net debt remained flat despite ₹85 Cr working capital increase due to higher raw material prices post West Asia conflict
  • 19% Revenue CAGR (FY24-26) and 38% EBITDA CAGR (FY24-26) achieved

Business Segment Performance - Q1 FY27

Cosmo Films (Flexible Packaging Films)

  • Revenue: ₹1,034 Cr (+45% YoY)
  • EBITDA: ₹140 Cr (+15% YoY)
  • India's largest flexible packaging film producer with 277k MT BOPP capacity
  • ~50% of revenue from exports (80+ countries)
  • Specialty mix at 61% with 10% CAGR growth target
  • Recent innovations: synthetic paper film, graphic PVC-free films, BOPET lidding films

Specialty Chemicals

  • Revenue: ₹66 Cr (+34% YoY)
  • EBITDA: ₹17 Cr (+46% YoY)
  • EBITDA Margin: 26% (+200 bps YoY)
  • Three verticals: coatings (7,000 MT capacity), masterbatches (10,000 MT capacity), adhesives (2,800 MT capacity)
  • Recent innovations: green coatings, anti-fog transparent coatings, high-performance PE white masterbatches

Cosmo Plastech (Rigid Packaging)

  • Revenue: ₹36 Cr (+58% YoY)
  • EBITDA Margin: 7% (normalized)
  • Brand mix at 58% in Q1 FY27 vs 50% in Q1 FY26
  • Specialty mix at 54% vs 28% in Q1 FY26
  • FSSC 22000 food-safety certified

Cosmo Consumer (Window Films & PPF)

  • Revenue: ₹11 Cr (4.5x YoY growth)
  • Annualized run rate: ₹45 Cr
  • Distribution network expanded to 100+ cities
  • Launched Cosmo Car Care Centre in Pune
  • India PPF industry: ~₹500 Cr, growing 30% YoY

Zigly Pet Care

  • Revenue: ₹18 Cr (+70% YoY)
  • 47 retail centers (4 new in Q1 FY27)
  • 29k+ customers served in Q1 FY27
  • Services sales mix: 64% in retail
  • Private-label sales: +105% YoY
  • Plan to unlock value by end of FY27

Financial Performance - Q1 FY27

| Metric | Q1 FY27 | Q1 FY26 | Change | FY26 | FY24-25 |

| Net Revenue | ₹1,166 Cr | ₹800 Cr | +46% | ₹3,639 Cr | ₹2,895 Cr |

| EBITDA | ₹147 Cr | ₹116 Cr | +27% | ₹479 Cr | ₹362 Cr |

| EBITDA% | 12.6% | 14.5% | -190 bps | 13.2% | 12.5% |

| PBT | ₹71 Cr | ₹54 Cr | +31% | ₹201 Cr | ₹163 Cr |

| PAT | ₹54 Cr | ₹43 Cr | +26% | ₹156 Cr | ₹133 Cr |

| EPS | ₹20.7 | ₹16.6 | +25% | ₹60.3 | ₹51.5 |

Management Commentary

EBITDA improvement driven by:

1. Higher sales volume (9% growth)

2. Improved base BOPP and BOPET films margins

3. Enhanced performance of USA film business

4. Better performance by specialty chemical subsidiary and rigid packaging

5. Revenue per kg improved 46% across base, semi-specialty and specialty categories

ESG & Sustainability

  • CareEdge "Good" ESG Rating
  • Carbon Emission Reduction: 1.02 Lac MT CO₂ (Scope 1)
  • 35%+ water treated at Cosmo
  • CSR Spend: ₹5.8 Cr in FY26 (7,78,000 lives impacted)
  • 161K+ saplings planted with 92% survival rate
  • 95% recycling of manufacturing waste
  • ₹30cr+ invested to cut environmental impact
  • Renewable energy target: 2/3rd mix in 12-18 months (₹25cr pa savings expected)

Governance

  • Board consists of 60% Independent Directors
  • 2 Women Directors
  • 6 Active Board Committees
  • 88% Board Attendance