COSMOFIRST
Cosmo First share price & financials
- Price
- ₹780.75
- Market cap
- ₹2.5k Cr
- Sector
- Capital Goods
- Calls analysed
- 7
Cosmo First Q1 FY27
What went well
- Consolidated sales for Q1 FY27 reached ₹1,166 crores, marking a 46% YoY increase, driven by 9% higher volume and raw material price pass-through.
- EBITDA grew 26% YoY to ₹147 crores, despite external challenges.
- The Specialty Chemical subsidiary achieved 34% YoY topline growth with a strong 25% EBITDA margin.
What to watch
- EBITDA margin in percentage terms declined to 12.6% in Q1 FY27 from 14.5% in June 2025Q.
- EBITDA was suppressed by 13% due to lower export volumes caused by port congestion.
What Cosmo First does
Cosmo First, founded in 1981 as Cosmo Films, manufactures biaxially oriented polypropylene (BOPP), BOPET, CPP and specialty/synthetic-paper films used in flexible packaging, labelling and lamination for food, beverage, personal-care and pharma customers, sold domestically and exported to 80+ countries. It has since built four adjacent verticals under the Cosmo First umbrella: Cosmo Speciality Chemicals (coatings, masterbatches and adhesives for films and paper), Cosmo Plastech (rigid packaging - plastic sheets, thermoformed cups/trays and injection-moulded containers for FMCG, pharma and electronics), Cosmo Consumer (window films and paint-protection films sold as Cosmo Sunshield, Cosmo PPF and Cosmo Guard) and Zigly, a D2C omni-channel pet-care platform with retail centres, vet hospitals and an online store. Manufacturing is based out of three integrated plants in Maharashtra and Gujarat, with a centralised R&D lab supporting new film development.
Segments
- Cosmo Films (Flexible Packaging)
- Cosmo Speciality Chemicals
- Cosmo Plastech
- Cosmo Consumer
- Zigly (Petcare)
- Employees
- 1,367
- Manufacturing facilities
- 3 (Waluj and Shendra in Aurangabad, Maharashtra; Karjan, Gujarat)
- Installed BOPP film capacity
- 2,77,000 TPA across 10 lines - largest in India
- Installed capacity - other film lines
- BOPET 30,000 TPA, CPP 30,000 TPA, coating 45,000 TPA, metallizing 57,000 TPA, thermal lamination 26,000 TPA, synthetic paper (CSP) 7,200 TPA
- Speciality chemicals capacity
- Coating chemicals 7,000 MT, masterbatches 10,000 MT, adhesives 2,800 MT
- Rigid packaging (Plastech) capacity
- 18,000 MT
Guidance record · Q1 FY27
what the last two calls moved 23 tracked 4 delivered 3 missed 16 open- US Tariff Refund Amount delivered, diluted said Q4 FY26 Promised: More than INR 60 crores Q1 FY27: The US subsidiary received a refund of approximately USD 7 million (~₹58.1 crores) in July 2026. While the refund was received, the amount is slightly below the 'more than INR 60 crores' guidance.
- Zigly Demerger Timeline went quiet said Q3 FY25 Promised: Demerge in 2-3 years Q1 FY27: No update provided on the demerger timeline, subsidiary formation, or external capital raising for Zigly. Management only commented on operational scaling and profitability timeline.
- Annual Net Debt Reduction at risk said Q3 FY26 Promised: ₹200-250 crores reduction each year Q1 FY27: Net debt remained flat at ₹1,166 crores compared to Q4 FY26. This shows no progress towards the annual reduction target of ₹200-250 crores.
All 23 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 41.0%, net profit up 0.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 723 | 679 | 687 | 751 | 873 +21% | 820 +21% | 911 +33% | 1,059 +41% |
| EBITDA | 67 | 55 | 59 | 72 | 81 +21% | 50 −9% | 94 +59% | 101 +40% |
| Net profit | 33 | 22 | 17 | 30 | 29 −12% | 17 −23% | 30 +76% | 30 +0% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −7.8% 1Y
1Y: ₹948.65 on 10 Sept 2025 → ₹874.9. High ₹964.85 (17 Aug 2026), low ₹576.85 (1 Feb 2026).
How the price took the results
close before → close after
- Q1 FY27
- +2.4%
- 7 Aug
- Q4 FY26
- +0.3%
- 21 May
- Q3 FY26
- +5.5%
- 12 Feb
- Q2 FY26
- −4.3%
- 12 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 4.4% a year over 3 years, FY23 to FY26. Operating margin narrowed to 8.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹3.0k Cr | ₹2.4k Cr | ₹2.7k Cr | ₹3.4k Cr |
| Operating profit | ₹369 Cr | ₹149 Cr | ₹232 Cr | ₹297 Cr |
| Operating margin | 12.5% | 6.2% | 8.5% | 8.9% |
| Interest | ₹55 Cr | ₹85 Cr | ₹98 Cr | ₹137 Cr |
| Depreciation | ₹73 Cr | ₹86 Cr | ₹96 Cr | ₹131 Cr |
| Net profit | ₹233 Cr | ₹38 Cr | ₹88 Cr | ₹106 Cr |
| Net margin | 7.9% | 1.6% | 3.2% | 3.2% |
| Cash from operations | ₹492 Cr | ₹198 Cr | ₹256 Cr | ₹358 Cr |
| Free cash flow | ₹154 Cr | ₹-55 Cr | ₹-217 Cr | ₹97 Cr |
| ROCE | 17.0% | 6.0% | 8.0% | 10.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹18 Cr | ₹18 Cr | ₹26 Cr | ₹26 Cr | ₹26 Cr | ₹26 Cr |
| Reserves | ₹816 Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.5k Cr | ₹1.3k Cr |
| Borrowings | ₹710 Cr | ₹757 Cr | ₹880 Cr | ₹1.0k Cr | ₹1.7k Cr | ₹1.6k Cr |
| Other liabilities | ₹482 Cr | ₹698 Cr | ₹920 Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.5k Cr |
| Total liabilities | ₹2.0k Cr | ₹2.5k Cr | ₹2.9k Cr | ₹3.4k Cr | ₹4.5k Cr | ₹4.3k Cr |
| Fixed assets | ₹967 Cr | ₹944 Cr | ₹1.4k Cr | ₹1.5k Cr | ₹2.3k Cr | ₹2.3k Cr |
| Capital work in progress | ₹16 Cr | ₹268 Cr | ₹140 Cr | ₹263 Cr | ₹228 Cr | ₹27 Cr |
| Investments | ₹339 Cr | ₹565 Cr | ₹619 Cr | ₹630 Cr | ₹370 Cr | ₹718 Cr |
| Other assets | ₹702 Cr | ₹766 Cr | ₹817 Cr | ₹993 Cr | ₹1.6k Cr | ₹1.2k Cr |
| Total assets | ₹2.0k Cr | ₹2.5k Cr | ₹2.9k Cr | ₹3.4k Cr | ₹4.5k Cr | ₹4.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −1.09 pp while the public added +1.00 pp.
- Promoters
- 40.8%
- FIIs
- 2.4%
- DIIs
- 1.5%
- Public
- 54.2%
- Others
- 1.1%
Since Jun 2025
- FIIs −1.09 pp
- Public +1.00 pp
- DIIs +0.81 pp
How it drifted, 12 quarters
Over this window the public went from 49.2% to 54.2% — +5.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 45.0%, FIIs 3.7%, DIIs 0.9%, Public 49.2%, Others 1.2%.Dec '23: Promoters 45.0%, FIIs 3.5%, DIIs 0.8%, Public 49.6%, Others 1.1%.Mar '24: Promoters 45.0%, FIIs 3.2%, DIIs 0.0%, Public 50.5%, Others 1.3%.Jun '24: Promoters 45.0%, FIIs 3.2%, DIIs 0.7%, Public 49.7%, Others 1.3%.Sep '24: Promoters 45.0%, FIIs 2.6%, DIIs 0.8%, Public 50.5%, Others 1.1%.Dec '24: Promoters 41.0%, FIIs 4.0%, DIIs 0.7%, Public 53.3%, Others 1.0%.Mar '25: Promoters 41.0%, FIIs 3.1%, DIIs 0.1%, Public 54.2%, Others 1.6%.Jun '25: Promoters 41.0%, FIIs 3.5%, DIIs 0.7%, Public 53.2%, Others 1.6%.Sep '25: Promoters 40.9%, FIIs 3.2%, DIIs 0.5%, Public 54.1%, Others 1.4%.Dec '25: Promoters 40.9%, FIIs 2.7%, DIIs 0.8%, Public 54.3%, Others 1.3%.Mar '26: Promoters 40.8%, FIIs 2.1%, DIIs 1.1%, Public 54.9%, Others 1.1%.Jun '26: Promoters 40.8%, FIIs 2.4%, DIIs 1.5%, Public 54.2%, Others 1.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Minaxi Bhalchandra Trivedi +0.18 pp 1.82% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Cosmo First above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ashok Jaipuria - Registered Owner C/o Gayatri& Annapurana - Beneficial Owner | 36.14% | unchanged |
| Ashok Jaipuria | 2.07% | unchanged |
| Minaxi Bhalchandra Trivedi | 1.82% | +0.18 pp |
| Pankaj Poddar | 1.29% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 1.08% | unchanged |
| Ambrish Jaipuria | 1.06% | unchanged |
| Fawkes Management (P) Ltd.-Registered Owner C/o Ashok Jaipuria Family Trust -Beneficial Owner | 1.05% | unchanged |
| Yamini Kumar | 0.40% | unchanged |
| Pravasi Enterprises Ltd | 0.03% | unchanged |
| Aanchal Jaipuria Bhandari | 0.03% | unchanged |
| Fawkes Management Pvt Ltd - Registered Owner C/o Ashok Jaipuria Private Trust - Beneficial Owner | 0.00% | unchanged |
| Andheri Properties And Developers Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Cosmo First
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