COSMO FIRST LIMITED — Investor Meet, 27-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Cosmo First posted Q4 sales of Rs.746 Cr, up 16% YoY, with EBITDA of Rs.85 Cr, boosted by cost control and improved film margins despite shutdowns. FY25 EBITDA rose 44% to Rs.362 Cr, and PAT more than doubled to Rs.133 Cr, led by specialty chemicals. Specialty films now form 71% of volumes, growing ~10% CAGR. Capex of Rs.1180 Cr is driving new capacities, including a BOPP line launching in FY26 Q1. Management is positive on specialty volume growth and new consumer products, targeting Rs.25-30 Cr revenue in FY26. Net debt stands at Rs.967 Cr (2.7x EBITDA). High-teens EBITDA margins in specialty chemicals expected to hold, with full asset utilization by FY27.