Cosmo First Limited , a global business organization with diverse interests in packaging, chemicals, and pet care, has announced its unaudited financial results for the first quarter. The company's board of directors approved the results during a meeting held on August 13, which lasted from 2:15 PM to 4:15 PM.

Financial Highlights

The company reported impressive growth in its Q1 performance:

Cosmo First delivered robust quarterly results with EBITDA rising to ₹116.00 crore from ₹84.00 crore year-over-year. The company's EBITDA margin improved to 14.50% compared to 12.20% in the same period last year. Consolidated net profit increased to ₹43.00 crore from ₹31.00 crore year-over-year. Revenue grew to ₹800.00 crore from ₹690.00 crore in the corresponding quarter of the previous year.

Key Drivers of Growth

The company's strong performance can be attributed to several factors:

1. Volume Growth: A significant 19% increase in volume contributed to the revenue growth.
2. Improved BOPP Film Margins: Better margins in the BOPP (Biaxially Oriented Polypropylene) film segment boosted profitability.
3. Cost Rationalization: The company achieved cost savings of ₹4 crore through improved efficiency measures.
4. Specialty Chemicals Performance: The Specialty Chemicals subsidiary showed enhanced performance, contributing to the overall growth.

Operational Updates

• New BOPP Film Line: A new BOPP film line commenced operations in early June, expected to increase the company's BOPP capacity by approximately 45%.
• Window Film Brand Launch: The company's window film operations, launched under the brand "Sunshield," have gained momentum with over 50 distributors onboard.
• Specialty Chemicals Subsidiary: This division posted an EBITDA of ₹12 crore with a topline of ₹49 crore in Q1.

Management Commentary

Mr. Pankaj Poddar, Group CEO of Cosmo First Ltd, commented on the company's performance: "The company is ramping up the production on the new BOPP line. The focus will be on taking full leverage of the new investments, grow specialty film sales and push down costs. Growth with profitability will be the key focus for other business verticals including Specialty chemicals, Cosmo Consumer (Window Films, PPF films & Ceramic Coatings) and Cosmo Plastech (Rigid packaging)."

Looking Ahead

Cosmo First Limited's recent investments in BOPP, CPP, and Window films are expected to drive revenue and profitability growth. The company's focus on cost-efficient production lines aims to enhance its market competitiveness.

As the company continues to leverage its new investments and focus on growth across its diverse business segments, it appears well-positioned for sustained performance.

Cosmo First Limited has announced a significant expansion of its pet care division, Zigly, in the Bengaluru market. The company has strategically acquired Dr. Santa Animal Healthcare, a well-established veterinary clinic, and launched a new multi-speciality pet care centre in Whitefield, Bengaluru.

Strategic Acquisition Boosts Zigly's Presence

Zigly, India's first tech-enabled omni-channel pet care brand, has acquired Dr. Santa Animal Healthcare, a veterinary clinic with over five years of experience in the Bengaluru market. The acquisition includes all assets, customer database, employees, and operational infrastructure of Dr. Santa Animal Healthcare, which generated revenues of Rs. 2.23 crores (unaudited).

New Multi-Speciality Pet Care Centre in Whitefield

The acquired clinic has been transformed into Zigly's new multi-speciality pet care centre, located in Whitefield, Bengaluru. This state-of-the-art facility will offer:

• 24x7 veterinary care
• Consultations and surgeries
• Diagnostics, ultrasounds, and X-rays
• In-patient facilities
• Premium grooming spa
• Curated selection of Applod, FurPro, and Zigly Lifestyle-branded pet products

Expansion Strategy and Market Presence

Mr. Pankaj Poddar, Group CEO of Cosmo First, commented on the expansion, saying, "Bangalore is one of our priority markets, and we have been witnessing great love for Zigly from across centers. As demand for quality pet care grows, we're thrilled to open our new centre in the vibrant city of Bengaluru."

With this new addition, Zigly now operates six centres across Bangalore, located in:

1. HSR Layout
2. JP Nagar
3. New Bel Road
4. Koramangala
5. Whitefield
6. Karthik Nagar

Financial Implications

The acquisition is expected to strengthen Zigly's position in the premium pet care market. The business transfer agreement includes a lump sum consideration to be paid in three tranches within 36 months of the completion date, subject to customary closing and transaction adjustments.

About Zigly and Cosmo First Limited

Zigly is a leading omnichannel platform for pet care, offering comprehensive services including veterinary care, grooming, pet fashion, and food. It operates multiple experience centers across India and is rapidly expanding its physical presence.

Cosmo First Limited, founded in 1981, is a multinational conglomerate and global leader in specialty films. The company operates in over 100 countries with five major business verticals, including flexible packaging, specialty chemicals, rigid packaging, window films, and pet care through Zigly.

This strategic move by Cosmo First's Zigly demonstrates the company's commitment to growth in the pet care sector and its focus on providing high-quality, comprehensive pet care services to meet the increasing demand in the Bengaluru market.