Announcement under Regulation 30 (LODR)- Earning Call Transcript

CFL/SE/2026-27/AUG/08 August 14, 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: Transcript of Analyst/Investor Earnings Call Dear Sir, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed the transcript of Analyst/Investor Earning Call held on August 07, 2026. The same is also available on the website of the Company at the below mentioned link: 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 Jyoti Dixit Company Secretary & Compliance Officer Encl: as above Cosmo First Limited August 7th ,2026 Cosmo First Limited Q1 FY27 Earnings Conference Call August 07, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Investor Call of Cosmo First Limited to discuss the Q1 FY27 results. Today we have with us from the management, Group CEO – Mr. Pankaj Poddar and Group CFO – Mr. Neeraj Jain, CEO – Zigly & Head Corporate Development – Mr. Saurabh Jain. Starting off with the statutory declaration, certain statements in the conference call may be forward-looking. These statements are based on management's current expectations and are subject to uncertainties and changes in circumstances. These statements are not guarantees of future results. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. Now may I request Mr. Neeraj Jain to take us through his opening remarks, subsequent to which we may open the floor for the Q&A session. Thank you and over to you, Neeraj ji. Neeraj Jain: Well, thank you very much. Very good afternoon, ladies and gentlemen, and thank you for joining us Cosmo June 2026 Results Conference Call. We will begin this call with a brief opening remark from the management side, which may be followed by the questions. June 2026Q reflects a quarter of continued momentum in our core flexible packaging business alongside newer businesses gaining scale and operational efficiencies resulting all our B2B businesses are now profitable. With the major phase of our capital investment behind us, we are now entering the next phase of our journey focused on leveraging these assets, improving returns on capital employed and strengthening cash generation. We will first talk about the financial results for the June quarter. Financial Results  Consolidated sales for the June 2026 quarter is Rs 1,166 crores which is higher by 46% from June 2025Q backed by higher volume by 9% and increase in raw material prices which got passed to the customers reflecting in higher sales value.  The Company has done well to manage the uncertainty caused by West Asia war and posted EBITDA increase by 26% in June 2026Q to Rs. 147 crores compared to Rs 116 crores during June 2025Q. The incremental EBITDA is primarily drive by: 1) higher sales volume (9%), 2) higher BOPP based speciality sales volume by 12% 3) Improved base BOPP and BOPET films margins, 4) enhanced performance of the USA film business (post reduction in the USA tariffs) 5) Higher EBITDA by other B2B business verticals i.e. specialty chemical and rigid packaging  EBITDA was suppressed in June 2026Q due to lower export volumes caused by port congestion (13%) Page 1 of 12 Cosmo First Limited August 7th ,2026  EBITDA margin in % terms was at 12.6% vs 14.5% in June 2025Q, as revenue rose by 46% although volume increase was 9%. The remaining sales growth was reflecting higher raw material prices which got passed to the customers. It may be noted that gross margin per kg improved across base, semi-specialty and specialty categories.  BOPP gross margins was running at Rs 30/- per kg in June 2026Q vs Rs 20 per kg in March 2026Q and Rs 23/- per kg in June 2025Q. This includes stock gain as well which is non-repetitive.  BOPET gross margin was running at Rs 9/- per kg in June 2026Q vs Rs 18/- per kg in March-26 quarter & Rs 13/- per kg in June-25 quarter. BOPET is the smaller for Cosmo (at 30,000 tonnes of capacity against 277,000 tonnes of BOPP).  Semi-specialty contribution improved to ₹45 per kg from ₹36 in Q4  Our speciality film margins remain stable at Rs 63 per kg. This is why the Company is focusing more to improve speciality films.  PAT improvement is moderate due to increased depreciation and interest related to new capacities.  Post reversal of additional custom duty imposed in FY 25-26 on imports from India into the USA, the US subsidiary received a refund of about USD 7 million in July-2026 which has not been appropriated pending finalization of customers' refunds there against.  Our Film business strategy remains consistent with focus on increasing the share of speciality films, expanding our portfolio of differentiated products, improving our product mix and driving operational efficiencies. We believe this strategy provides better resilience while strengthening our competitive positioning in global markets. Outlook:  The Company expects topline to grow by about 20% in FY26-27 on overall basis with commensurate increase in bottom-line.  Further four new businesses are expected to grow about 60%.  Now, moving to other business verticals performance, Specialty Chemicals:  The Specialty Chemical subsidiary has continued to achieve tractions and posted 34% topline growth on YoY basis with 25% EBITDA in June 2026Q. Rigid Packaging:  Cosmo Plastech (Rigid packaging vertical) has posted over 58% topline growth in June 2026Q on YoY basis and has turned EBITDA positive (7%). Now FY27 focus shall be on achieving higher profitability through higher capacity utilisation, improving sales mix and improved efficiency. The business is also augmenting 50% growth in capacity over the next 2 quarters with minimal capex, which will pave future growth in the next financial year and bring efficiencies of scale. Consumer Businesses:  Cosmo has two consumer businesses i.e. Zigly (Petcare) and Cosmo Consumer (which include Window films, Paint Protection Films & Ceramic Coatings).  Zigly maintained its strong growth trajectory with around 70% year-on-year growth, supported by continued expansion of its retail footprint and increasing adoption of its private label products. During the quarter, the business expanded into new locations and further strengthened its product portfolio.  Our Cosmo Consumer business also continued to build momentum. Cosmo Consumer started brand building with TV advertisements from July 2026. We expanded our presence in the automotive through the launch of our first 4C Cosmo Car Care Centre in Pune and continuing to strengthen our Window Films, Paint Protection Films and Ceramic Coatings business verticals. We remain encouraged by the market response and continue to invest in building this business for long-term value creation. Corporate:  There is very clear focus on ROCE improvement in FY26-27. Capex cycle of the Company is largely complete. Now the focus will be to fully leverage the strategic capex done in last 3 years (₹1,200 Cr.). Page 2 of 12 Cosmo First Limited August 7th ,2026  Net Debt at June 2026 end was flat at Q4, FY26 level (Rs 1,166 crores which is 2.3 times to EBITDA) despite net working capital increase by Rs 85 crores due to increased raw material prices post West Asia war. There is clear roadmap to reduce net debt over next 2 years. We are expecting net debt to EBITDA to reduce to below 2 times to EBITDA in next 12 months.  Our new businesses (Cosmo Special [Showing first 8,000 characters — download PDF for full document]