COSMO FIRST LIMITED — Investor Meet, 19-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Cosmo First's Q3 FY26 saw consolidated sales up 28% to Rs 899 Cr and EBITDA rise 19% to Rs 103 Cr. Profitability was impacted by lower BOPP core film margins, US tariffs (~Rs 8 Cr), and one-time losses (~Rs 19 Cr). BOPP gross margins were Rs 13/kg, while BOPET margins doubled QoQ to Rs 12/kg.

The company aims to fully utilize its Rs 1,100 Cr capex, targeting 100% utilization for new BOPP lines by March. Specialty business is a key growth driver, with a target to reach 70% of total sales from a current ~50%. Reduced US tariffs are expected to add Rs 50 Cr to next year's profitability. Net debt reduced to Rs 1,215 Cr, with plans for Rs 200-250 Cr annual reduction. Zigly's demerger is targeted for FY27. Management expresses confidence in strategic shifts and operational efficiencies.