Investor Presentation

CFL/SE/2026-27/NOV/03 November 03, 2026 The Manager (Listing) The Manager (Listing) BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Plot no. C/1, G Block, Mumbai-400 001 Bandra – Kurla Complex Scrip Code: 508814 Mumbai-400 051 Security ID: “COSMOFIRST” Sub: Investor Presentation Dear Sir, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed Investor Presentation on Operational and Financial Performance of the Company for the quarter ended on September 30, 2026. The Investor Presentation is also being hosted on the website of the Company viz https://www.cosmofirst.com/investors/investors-presentation You are requested to take the same on your records. Thanking You Yours faithfully For Cosmo First Limited Digitally signed by Jyoti DixitJyoti Dixit Date: 2026.11.03 17:59:15 +05'30' Jyoti Dixit Company Secretary & Compliance Officer Encl: as above Cosmo First - One Specialty Platform, Five Growth Engines Q2 & H1 FY27 Investors Presentation Slide 1 of 40 Slide 1 of 40 Slide 1 of 40 Q2 FY27 at a Glance The quarter in one view: group numbers and all five businesses ₹1,388 Cr ₹177 * Cr ₹99** Cr 1.9x Net Revenue EBITDA · 12.8% margin PAT · EPS ₹38.0 Net Debt / EBITDA +51% YoY +38% YoY +111% YoY from 3.0x in Sep-25 Business Revenue Q2 YoY EBITDA Q2 EBITDA % Change Highlight of the quarter ₹1,232 Cr +48% ₹171 Cr +33% Specialty & semi-specialty mix at ~60% volume growth at 15% YoY, Improved traction in US business ₹90 Cr +84% ₹21 Cr +57% 23% EBITDA margin; new coatings for water extrusion primers and HP Indigo printers Turned Profitable ₹39 Cr +90% ₹3 Cr 8% EBITDA margin; brand mix 67%, specialty mix 69% 8% EBITDA +70% ₹8.5 Cr (₹4 Cr) ₹45 Cr annual run-rate; higher marketing spend for TVC 48 centers; ₹100 Cr Annualized GMV run-rate; private ₹19 Cr +47% (₹14 Cr) label growth +94% * Including write-back of additional custom duties by the USA subsidiary post receiving duty refund impacting EBITDA favourably by Rs 24.8 crores and Stock loss of Rs 7 crores due to drop in raw material prices. ** The Company adopted the concessional tax regime from Tax Year 2026-27; the quarter’s tax provision reflects the resulting benefit. Slide 2 of 40 Agenda 01 Strategic Perspective - Short to Mid Term Businesses at a Glance Q2 & H1 FY27 Performance 04 Business Deep-Dives : Films, B2B, B2C Financial Overview, ESG & Sustainability Slide 3 of 40 From Investment Phase To Value Creation 1 Capex Cycle Complete 2 Specialty Portfolio Shift 3 Long-term Value Creation ❑ ₹1,250+ Cr strategic capex done since ❑ Increasing specialty films volume ~ ❑ Building Consumer businesses FY24 10% CAGR (Window Films, Paint Protection Films & Petcare verticals) ❑ Major capacities have commissioned ❑ Specialty chemicals: 20%+ EBITDA & 25% ROCE ❑ Achieving close to full capacity ❑ Limited Capex ahead utilization in all B2B businesses ❑ Launched high margin Window Films ❑ Net debt ₹1,057 Cr (1.9x EBITDA vs & Paint Protection Films (FY26) ❑ Scaling high-ROCE verticals 3.0x in Sep’25) ❑ Complementary thin wall containers ❑ 25% Revenue CAGR & 40% EBITDA business focused on brands sales CAGR (H1FY24-H1FY27) ❑ Targeting rise in non-film EBITDA over 3 years Investment phase → Deleveraging → Superior ROCE & scale-up What Drives Short Term Growth Additional Volumes Higher Specialty US Business Growth Additional Rigid Packaging Scale-up in all in FY27, Utilization Mix (growing at ~ & Margin expansion Renewable Power Double-digit businesses Improved to 90%+ 10% CAGR) post tariff Savings EBITDA % in Q2 normalization Slide 4 of 40 Cosmo First Businesses at a Glance Slide 5 of 40 High Quality, Specialty-Focused Businesses: Five Growth Engines FILMS: CORE BUSINESS B2B GROWTH BUSINESSES B2C BRANDS Market leader and cash generator Profitable and scaling fast Brand-building investment underway Cosmo Films Specialty Chemicals Cosmo Plastech Cosmo Consumer Zigly Pet Care Since 1981 Since FY21 Since FY25 Since FY26 Since FY22 India's Largest Flexible R&D-Driven Specialty End-to-End Rigid High-Margin Consumer India’s first omnichannel Packaging Film Producer Chemicals Packaging Vertical Film Products integrated pet care player Revenue Revenue Revenue Revenue Revenue FY26 ₹3,265 Cr (+25% YoY) FY26 ₹204 Cr (+10% YoY) FY26 ₹92 Cr (+86% YoY) FY26 ₹23 Cr (1st year) FY26 ₹55 Cr (+63% YoY) H1 FY27 ₹2,273 Cr (+47% YoY) H1 FY27 ₹156 Cr (+59% YoY) H1 FY27 ₹75 Cr (+73% YoY) H1 FY27 ₹20 Cr (2.6x YoY) H1 FY27 ₹37 Cr (+58% YoY) KEY BUSINESS HIGHLIGHTS – #1 Specialty films share – 3 niche verticals: – FMCG · Pharma · – Window · PPF · Safety · – Vet care · Grooming in India (10% CAGR) coatings, masterbatch, Electronics focus Decorative films services · Products adhesive – Largest exporter in India – Thin-wall containers – Ceramic coatings – Private label (~50% of revenue) – High value-add, niche – Brand (63%) & Specialty – High-margin business – High-growth industry positioning – R&D focus: 6 patents, 11 Sales focus (62%) for H1 – PPF industry growing with strong tailwinds in pipeline – Double-digit growth rate, – Healthy and stable 30% in India – Near-term value unlock High 25% ROCE – Capacity up 45%, lowest margins planned cost of production (added in May '25) Slide 6 of 40 ₹1,250+ Cr Capex in FY24-26 – Incremental Capex in Specialty Only Foundation & Expansion Global Scale & Diversify Established Leadership Position in the Films 2010: 2nd metallizer line 2011: Korea plant Business & New 2012: 2nd coating line Horizons 2006: 3rd and 4th extrusion ► 2013: 9th BOPP line,2014: 3rd coating line coating line; 2015 4th and 5th coating line; 3rd metallizer 1st coating line; ► line; Upgradation of US plant 2007-08: 5th, 6th and 7th ► 2021-2026 extrusion coating line 2021-22 - Specialty Chemicals In 2009: 8th BOPP line ► 2011-15 2021-22: Petcare “Zigly” 2022-23: Re-branded to Cosmo First Limited 2022-23: Specialized BOPET Line 2006-2010 2016-2020 ► 1981: 1st BOPP line ► 2023-24: Rigid (Sheets & thermoforming) 1988: 2nd BOPP line Metallized Capacitor Films 1996: 3rd BOPP line ► ►2016: CPP line-1 ►2024-25: Rigid Packaging (Injection Molding) 2017: 10th BOPP line 2024-25: CPP Line (22k Mt Capacity) 1981-2000 ► ► ►2018: CPP line-2 ►2025-26 Window Films(Sunshield) (May’25) 2000-05 2019: 4th Metalizer and 2025-26: BOPP Line (81k mt Capacity) 2001: 4th BOPP line second Lamination ► 2025-26: Coating line (Q3 FY26) 2003: 5th BOPP line (Solvent Less) 2025-26: Coating Lamination line (Q4 FY26) 2004-5: 6th BOPP line; 1st ► ► 2020: 6th coating line and 2nd extrusion coating 2026-27: Largest coating line expected in line; 1st metallizer line H2FY27 (16k mt) for specialty Slide 7 of 40 Q2 & H1 FY27 Snapshot Slide 8 of 40 Q2 and H1 FY27 — Performance Snapshot 1,388 177 128 99 Net Revenue EBITDA PAT Q2 FY27 Q2 FY27 Q2 FY27 47 ₹1388 Cr ₹177 * Cr ₹99** Cr Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 vs ₹919 Cr (Q2 FY26) +51% 12.8% margin +38% EPS: ₹38.0 +11S1ta%ble 2,561 245 152 1,719 H1 FY27 Revenue H1 FY27 EBITDA H1 FY27 PAT ₹2,561 Cr ₹324 ₹152 **Cr H1 FY26 H1 FY27 H1 FY26 H1 FY27 H1 FY26 H1 FY27 vs ₹1,719 Cr (H1 FY26) +49% 12.7% margin +32% EPS: ₹58.7 +70% * Including write-back of additional custom duties by the USA subsidiary post receiving duty refund impacting EBITDA favourably by Rs 24.8 crores and Stock loss of Rs 7 crores due to drop in raw material prices. Slide 9 of 40 ** The Company adopted the concessional tax regime from Tax Year 2026-27; the quarter’s tax provision reflects the resulting benefit. Q2 & H1 FY27 Performance Snapshot In Rs. Crores Q2 FY27 Q2 FY26 Q1 FY27 H1 FY27 H1 FY26 FY25-26 Net Revenue 1,388 919 1,173 2,561 1,719 3,639 EBITDA 177 128 147 324 245 479 EBITDA% 12.8% 14.0% 12.5% 12.7% 14.2% 13.2% PBT 98 57 71 169 112 201 PAT 99 47 54 152 90 156 EPS (In Rs.) (Not Annualized) 38 18 21 59 35 60 Management Commentary ❑ Q2 FY27 EBIDTA improved YoY on the back of: 1. Higher sales volume 15%, 2. higher speciality [Showing first 8,000 characters — download PDF for full document]