Cosmo First Limited will host a virtual interaction with analysts and institutional investors on Tuesday, August 25, 2026. The session is scheduled to commence at 4:00 pm.

Meeting details

The company confirmed that no unpublished price-sensitive information (UPSI) will be shared during the meeting. The event is being conducted pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Jyoti Dixit, Company Secretary and Compliance Officer, issued the intimation on August 20, 2026. The scheduled date remains subject to change in case of exigencies on the part of investors or analysts.

Cosmo First Limited has published the full transcript of its analyst and investor earnings call on its corporate website, providing detailed insights into its financial performance for the quarter ended June 30, 2026 (Q1FY27). The session, originally scheduled for August 07, 2026, featured Group Chief Executive Officer Pankaj Poddar, Group Chief Financial Officer Neeraj Jain, and Saurabh Jain, CEO of Zigly and Head of Corporate Development. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Financial Performance Overview

Consolidated sales for the June 2026 quarter reached ₹1,166 crore, marking a 46% increase from the same period in FY25. This top-line growth was primarily driven by a 9% rise in volumes and higher raw material prices passed through to customers. Despite the significant revenue jump, EBITDA grew at a more moderate pace of 26%, rising to ₹147 crore from ₹116 crore in June 2025. Management attributed this divergence to the pass-through nature of raw material costs, which inflated the revenue denominator without proportionally increasing operating profits.

EBITDA margin contracted to 12.6% from 14.5% in the prior year quarter. However, management emphasized that contribution per kilogram improved by approximately 15%, indicating genuine operational efficiency gains despite the margin compression in percentage terms. Export volumes were suppressed by 13% due to port congestion, though the US film business saw enhanced performance following tariff reductions.

Segmental Insights and Margins

The company’s core flexible packaging business showed resilience, with gross margins improving across base, semi-specialty, and specialty categories. BOPP gross margins stood at ₹30 per kg in June 2026, compared to ₹23 per kg in June 2025 and ₹20 per kg in March 2026. This improvement included non-repetitive stock gains. BOPET margins were ₹9 per kg, down from ₹18 per kg in March 2026 but stable relative to long-term trends. Specialty film margins remained robust at ₹63 per kg, reinforcing the company’s strategic focus on high-value products.

Newer business verticals contributed significantly to the quarter’s results:

• Specialty Chemicals: Posted 34% YoY topline growth with a 25% EBITDA margin.
• Rigid Packaging (Cosmo Plastech): Achieved over 58% YoY topline growth and turned EBITDA positive with a 7% margin.
• Zigly (Petcare): Maintained strong momentum with ~70% YoY growth, although losses widened slightly due to ahead-of-revenue investments in retail expansion and private label launches.

Balance Sheet and Outlook

Net debt remained flat at ₹1,166 crore (2.3x EBITDA) as of June 2026, despite an ₹85 crore increase in net working capital driven by higher raw material costs. Management indicated a clear roadmap to reduce net debt to below 2x EBITDA within the next 12 months through internal accruals and contained capex. The company expects overall revenue to grow by approximately 20% in FY27, with new businesses growing at around 60%. ROCE is targeted to improve to between 15% and 20% over the next 12 to 24 months as new capacities are leveraged.

What the Numbers Show

The divergence between the 46% revenue growth and 26% EBITDA growth highlights the impact of raw material price inflation in a pass-through business model. While percentage margins compressed, the absolute EBITDA per kilogram rose by ~15%, signaling that operational efficiencies and product mix shifts toward specialty films are successfully offsetting cost pressures. The profitability of all B2B units, including previously loss-making rigid packaging, marks a structural shift in the company’s earnings profile.