Cosmo First has declared its financial results for the quarter ended December 2024. The improvement in EBIDTA from Q3FY24 is backed by higher specialty sales, enhanced volume and better BOPP and BOPET film margins. The company has reached speciality sales of 73% of total volume in Q3FY25 and 71% in December 2024 on a YTD (year to date) basis as against 64% in FY24.
It reported a net revenue of Rs 701 crore in Q3FY25 compared to Rs 625 crore in Q3FY24. In Q2FY25 the net revenue was Rs 759 crore. EBITDA was Rs 86 crore in Q3FY25 over Rs 56 crore in Q3FY24.
The BOPET vertical (about 15% of company’s sales for Q3FY25) has also witnessed better margins and posted EBITDA in mid-teens during Q3FY25.
The net revenue and margins are lower in Q3FY25 from Q2FY25 due to temporary break-down in one of the lines causing volume loss of 5%. BOPP Film margin has also witnessed pressure for few weeks in Q3, FY25 with some capacity commissioning in domestic industry though recovered due to strong demand. The BOPP base film margins are expected to remain subdued in FY26 due to expected capacity addition in the domestic industry. Q2FY25 also had one-time income of Rs 9 crore due to property sales and tax incentives.
The specialty chemical subsidiary is advancing well to achieve high teens EBITDA and 30%+ ROCE in FY25.
Yamini Kumar (Jaipuria) has been appointed as whole-time director (corporate strategy, ESG & CSR) for a period of five years. The appointment will take effect from the date of allotment of DIN (director identification number) by the ministry of corporate affairs.
Commenting on the company’s performance, Pankaj Poddar, Group CEO, Cosmo First, “For the film business, the company’s focus remains on specialty film, expanding in international geographies, faster scaling up of new capacities and cost rationalization opportunities. Growth projects (BOPP Film line, CPP line and Sun-control Film) are expected to add to the topline and bottom-line from FY26. In Zigly, we have launched multiple Private labels and enhanced our Vet care services which favorably impacted topline and margins in Q3. The rigid packaging vertical will make positive EBIDTA from FY26.”
Founded in 1981 by Ashok Jaipuria, Cosmo First has a presence across 100+ countries around the globe. Cosmo First is a global name in specialty films and an emerging player in specialty chemicals (masterbatches, adhesive & coating chemicals), rigid packaging (Cosmo Plastech) along with the first digital Omni channel Pet care business under the brand name ‘Zigly’.
