Cosmo First Q2 results for FY27 show sales volume up 15% and specialty sales up 20%, with net debt reduced to Rs 1,057 crore as of September 2026 from Rs 1,159 crore in March 2026. Group CEO Pankaj Poddar said: “All our B2B businesses are profitable.”
The company, also tagged as Cosmo Films Limited, reported the results on 3 November 2026.
What Drove Cosmo First’s Q2 FY27 Performance?
Consolidated EBITDA improved year on year, helped by stronger base BOPP film margins and better US film performance after tariff cuts. A US subsidiary’s write-back of excess customs duties after a duty refund added Rs 24.8 crore to EBITDA, while a stock loss of Rs 7 crore from falling raw material prices reduced it.
How Did Cosmo First’s Segments Perform?
The specialty chemical subsidiary grew its topline by over 80% year on year with a 23% EBITDA margin. Cosmo Plastech, the rigid packaging business, grew its topline by over 90% with an 8% EBITDA margin. Zigly, the pet care business, grew 47%, and Cosmo Consumer grew 70%.
What Capacity Expansion Is Planned for Packaging?
A chemical-coated film expansion will add 16k MT of annual capacity in H2 FY27. Cosmo Plastech also plans a 9-layer barrier sheet line with 10k MT of annual capacity in H2 FY27.
Market Reaction and Industry Response
No share-price reaction or analyst comment was found in the source. On the balance sheet, net debt equals 1.9 times EBITDA, and net working capital rose by Rs 148 crore because of higher raw material prices after the West Asia conflict.
What Happens Next?
The coated film and barrier sheet capacity additions are both scheduled for the second half of FY27, so their effect on volumes and margins would show in later quarters. Raw material costs, which raised working capital this quarter, remain a factor to watch.
Frequently Asked Questions
How much did Cosmo First’s sales volume grow in Q2 FY27?
Sales volume rose 15% and specialty sales rose 20%.
What is Cosmo First’s net debt?
Net debt was Rs 1,057 crore as of September 2026, down from Rs 1,159 crore in March 2026.
What expansions has Cosmo First planned?
A 16k MT chemical-coated film expansion and a 9-layer barrier sheet line with 10k MT capacity, both in H2 FY27.
Source: EquityBulls, 3 November 2026.
Leave a comment