Cosmo First Limited announced its financial results for the quarter and full year ended March 2025. In Q4 FY25, the company’s EBITDA was supported by increased specialty sales and stronger margins in BOPP and BOPET films. However, EBITDA was partially offset by a one-time, non-recurring expense of ₹4.3 crore related to shifting a thermal line from Korea to India—an efficiency move expected to yield ₹10 crore in annual savings. Additionally, the company saw a 10% reduction in BOPET film volumes due to a planned maintenance shutdown during the quarter.
FY25: Full-Year EBITDA Boosted by Specialty Sales and Cost Optimization
For the full financial year, Cosmo First reported higher EBITDA, fueled by:
- A 10% year-on-year increase in specialty sales
- Cost rationalization savings of approximately ₹25 crore
- Better margins in both BOPP and BOPET films
- Stronger performance from its specialty chemicals subsidiary
These improvements underscore the company’s focus on operational efficiency and product mix optimization.
₹1,180 Crore Investment in Growth Projects Over Three Years
Over the past three years, Cosmo First has invested ₹1,180 crore – including ₹502 crore in FY25 —across a wide range of strategic initiatives. These include new production lines for BOPP, CPP, and polyester films, metallizers, coating lines, window films, paint protection films (PPF), and expansions in Zigly and rigid packaging. These projects are expected to significantly boost both revenue and profitability in the next two to three years.
New CPP and Sunshield Lines Operational; BOPP Line to Follow
The company began commercial operations at its Cast Polypropylene (CPP) line in March 2025, with an annual capacity of 22,000 metric tons. In May 2025, production commenced for sunshield films. Cosmo has completed pilot runs with over 50 distributors who will handle both sunshield and PPF products. Looking ahead, a new BOPP line with an annual capacity of 81,000 metric tonnes is set to become operational in Q1 FY26.
Specialty Chemicals Delivers Healthy Returns
As per the press release, the specialty chemicals subsidiary delivered a topline of ₹180 crore in FY25, achieving an EBITDA margin in the high teens. This reflects continued growth and a strong return on capital employed (ROCE) in the segment.
CEO Outlook
Pankaj Poddar, Group CEO of Cosmo First Ltd, stated, “We now focus on fully leveraging our recent investments, scaling specialty film sales, expanding our international footprint, and further reducing costs. Our new film lines are among the most cost-efficient in the industry and will enhance our competitiveness. Specialty Chemicals is already delivering healthy ROCE, and in Zigly, we are targeting profitable growth in services including veterinary and grooming. We also plan to expand our service offerings and introduce private label products to improve product sales margins.”
