Cosmo First Reports Robust H1 FY26 Performance with 20% Sales Growth and Strategic Expansion

Cosmo First Limited , a pioneer in the BOPP films industry in India, has reported strong financial results for the first half of fiscal year 2026 (H1 FY26), demonstrating significant growth and strategic expansion across its business segments.

Financial Highlights

Cosmo First reported consolidated net sales of Rs 1,719.00 crores for H1 FY26, marking a substantial 20% increase compared to the previous year. The company achieved an impressive EBITDA margin of 14.2% for the period, showcasing its operational efficiency.

Particulars (in Rs. Crores)	H1 FY26	H1 FY25	YoY Growth
Net Sales	1,719.00	1,449.00	20%
EBITDA	245.00	191.00	28%
EBITDA Margin	14.2%	13.2%	100 bps
Profit Before Tax (PBT)	112.00	94.00	19%
Profit After Tax (PAT)	90.00	77.00	17%

Operational Performance

The films business, which remains Cosmo First's core focus, maintained its emphasis on specialty products. These specialty films comprised 71% of total volume in FY25, growing at a 10% CAGR over the last six years. This strategic focus on high-value products has contributed significantly to the company's robust performance.

Capacity Expansion

Cosmo First commissioned a new BOPP line in June 2025. This expansion has increased the company's capacity by 45% to 277,000 TPA, positioning it strongly to meet growing market demand.

Diversified Business Segments

Cosmo First operates across multiple segments, showcasing its diversified business model:

Specialty Films
Specialty Chemicals
Rigid Packaging
Window Films
D2C Petcare (Zigly brand)

Specialty Chemicals Business

The specialty chemicals business demonstrated exceptional performance, posting its highest ever EBITDA of Rs 25.00 crores with a topline of Rs 98.00 crores in H1 FY26. This segment's strong showing underscores the company's successful diversification strategy.

Financial Position

As of September 2025, Cosmo First maintains a healthy financial position with a net debt to EBITDA ratio of 2.97 times and a net debt to equity ratio of 0.80 times. These ratios indicate a balanced approach to leverage and financial stability.

Sustainability Initiatives

Cosmo First has made significant strides in its sustainability efforts, achieving 50% renewable energy usage. The company plans to increase this to two-thirds of its total energy consumption in the next 12-18 months, demonstrating its commitment to environmental responsibility.

Management Commentary

Pankaj Poddar, Group CEO of Cosmo First Ltd, commented on the company's performance, stating, "The FY26 focus will be on fully leveraging the investments in newer production lines and faster scaling of new businesses."

Conclusion

Cosmo First's H1 FY26 results reflect a company on a strong growth trajectory, with strategic expansions, diversification, and a focus on high-value products driving its performance. The company's commitment to sustainability and innovation positions it well for continued success in the evolving market landscape.

Investors and stakeholders can look forward to Cosmo First's continued focus on leveraging its new capacities and scaling up its diverse business segments in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.10%	-4.44%	-11.80%	+11.89%	+3.28%	+155.85%

Cosmo First Limited , a leading player in the packaging films industry, has reported a modest growth in its net profit for the second quarter, accompanied by a significant increase in revenue.

Financial Highlights

Particulars (in ₹ crore)	Q2 FY2025-26	Q2 FY2024-25	YoY Change
Revenue from Operations	919.03	758.92	21.10%
Net Profit	46.69	45.75	2.10%
EBITDA	103.07	87.03	18.40%
EBITDA Margin	11.22%	11.47%	-25 bps

Cosmo First has demonstrated robust top-line growth in the second quarter of FY2025-26. The company's consolidated revenue from operations surged to ₹919.03 crore, marking a substantial 21.10% increase from ₹758.92 crore in the corresponding quarter of the previous fiscal year.

Profit and Profitability

The company's net profit for Q2 FY2025-26 stood at ₹46.69 crore, reflecting a modest 2.10% growth compared to ₹45.75 crore in Q2 FY2024-25. This indicates that while the company has managed to increase its profitability, the growth in net profit has not kept pace with the revenue expansion.

Operational Performance

Cosmo First's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter reached ₹103.07 crore, up by 18.40% from ₹87.03 crore in the same quarter last year. However, the EBITDA margin saw a slight contraction, decreasing by 25 basis points to 11.22% from 11.47% in Q2 FY2024-25.

Segment Performance

The company's financial results reveal strong performance across its business segments:

Packaging Films: This segment remained the primary revenue driver, generating ₹873.83 crore in Q2 FY2025-26.
Specialty Chemicals: Contributed ₹49.00 crore to the quarter's revenue.
Petcare: A growing segment that added ₹12.63 crore to the top line.
Others: This category accounted for ₹25.79 crore of the revenue.

Balance Sheet and Liquidity

As of September 30, 2025, Cosmo First reported:

Total assets of ₹4,515.32 crore
A strong equity base with total equity of ₹1,540.49 crore
Non-current liabilities of ₹1,478.91 crore
Current liabilities of ₹1,495.92 crore

The company's balance sheet structure suggests a balanced approach to financing its operations and growth initiatives.

Conclusion

Cosmo First's performance in Q2 FY2025-26 demonstrates its ability to grow revenue significantly. While the modest growth in net profit indicates some pressure on margins, the company's diverse business segments and strong revenue growth provide a solid foundation for future performance. The company's investments in various segments, particularly the growing petcare division, may be areas of focus for potential future growth and margin expansion.