Slide 1: Cover letter to stock exchanges: Investor Presentation
CFL/SE/2026-27/MAY/07 May 20, 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: “COSMO
Slide 2: Cosmo First - Entering Phase of Superior ROCE & Business Scale Up
Cosmo First - Entering Phase of Superior ROCE & Business Scale Up Q4 & FY26 Investors Presentation Slide 1 of 39 Slide 1 of 39
Slide 3: Agenda
Agenda 01 Strategic Perspective- Short to Mid Term 02 Businesses at a Glance 03 Q4 & FY26 Performance 04 Business Deep-Dives 05 Financial Overview, ESG & Sustainability Slide 2 of 39
Slide 4: From Investment Phase to Value Creation
From Investment Phase to Value Creation 1 Capex Cycle Complete 2 Specialty Portfolio Shift 3 Long-term Value Creation • ₹1,200+ Cr strategic capex done • Increasing specialty films • Building Consumer businesses in last three years volume ~ 10% CAGR (Window Films, Paint Protection • Major capacities
Slide 5: Cosmo First – Businesses at a Glance
Cosmo First – Businesses at a Glance Slide 4 of 39
Slide 6: High Quality Speciality Focused Businesses
High Quality Speciality Focused Businesses COSMO FILMS COSMO SPECIALITY COSMO PLASTECH COSMO CONSUMER ZIGLY PETCARE CHEMICALS Since 1981 Since FY21 Since FY25 Since FY26 Since FY21 India's Largest Flexible R&D-Driven Speciality End-to-End Rigid High-Margin Consumer D2C Omni-Channel Packaging Film Pr
Slide 7: Capex of Rs 1,200+ Cr in last 3 years to drive strategic growth
Capex of Rs 1,200+ Cr in last 3 years to drive strategic growth Foundation & Expansion Global Scale & Diversify Leading Position Films Business ►2010: 2nd metallizer line & New Horizons ►2011: Korea plant ►2012: 2nd coating line ►2006: 3rd and 4th extrusion ►2013: 9th BOPP line,2014: 3rd coating lin
Slide 8: Q4 & FY26 Snapshot
Q4 & FY26 Snapshot Slide 7 of 39
Slide 9: FY26 — Key Business Tractions
FY26 — Key Business Tractions Flexible Packaging Films Specialty Chemicals Cosmo Plastech (Rigid Packaging) FY26 Revenue +25% YoY · EBITDA + 26% YoY FY26 Revenue +10% YoY · EBITDA + 60% YoY FY26 Revenue ₹92 Cr + 86% YoY • BOPP Capacity up by 45% in FY26 • Oil & Grease coatings -Paper packaging • ESD
Slide 10: Q4 & FY26 — Performance Snapshot
Q4 & FY26 — Performance Snapshot 37 1,021 130 27 Net Revenue 746 EBITDA 85 PAT Q4 FY26 Q4 FY26 Q4 FY26 ₹1021 Cr Q4FY25 Q4FY26 ₹130 Cr Q4FY25 Q4FY26 ₹37 Cr Q4FY25 Q4FY26 +53% Stable vs ₹746 Cr (Q4 FY25) +37% 12. 7% margin EPS: ₹14.2 +37% +14% 3,640 479 156 2,895 362 133 12M FY26 Revenue 12M FY26 EBIT
Slide 11: Q4 & FY26 Performance Snapshot
Q4 & FY26 Performance Snapshot Q4 FY26 Q4 FY25 FY25-26 FY24-25 Q2 In Rs.FY26 Crores Net Revenue 1,021 746 3,639 2,895 EBITDA 130 85 479 362 Performance EBITDA% 12.7% 11.4% 13.2% 12.5% Snapshot PBT 58 33 201 163 PAT 37 27 156 133 EPS (In Rs.) (Not Annualized) 14.2 10.5 60.3 51.5 Management Commentary
Slide 12: Q4 & FY26 : Management Commentary
Q4 & FY26 : Management Commentary PAT improvement is moderate due to exceptional item of Rs 7.2 crores, increased depreciation and interest related to new capacities and one time impact of reversal of deferred tax assets of Rs 5.3 crores due to reorganization of the subsidiary in South Korea Spe
Slide 13: Focus on Net Debt reduction
Focus on Net Debt reduction Quarterly trend | FY26 Debt reduction has started from peak debt in Sep’25 in line with our stated guidance Net Debt Movement (INR Cr) Leverage Ratios 1300 4 3.5 1250 1,234 2.9 3.0 1,214 3 2.8 1200 2.4 2.5 1,159 1150 1,140 2 1.5 1100 1 0.7 0.8 0.8 0.7 1050 0.5 1000 0 Jun-
Slide 14: EBITDA Contribution to Total Company Sales
EBITDA Contribution to Total Company Sales % of Total Company Sales | FY25 vs FY26 % of Total Co. Sales → Reported EBITDA 14 13.2% 12.8% 12.9% % of Total Company Sales 12.5% 12.5% → 13.2% 12 10 Packaging % of Total Company Sales 8 12.8% → 12.9% 6 Speciality Chemicals 4 % of Total Company Sales 1.2%
Slide 15: Business Overview – Films
Business Overview – Films Slide 14 of 39
Slide 16: Films Business — India's Largest, Focused on Specialty
Films Business — India's Largest, Focused on Specialty India's BOPP Market: ~900K MT pa | ₹13,000 Cr | 8–10% growth Cr Packaging Business FY26 FY25 Growth% • Largest flexible packaging film producer in India, with Sales 3265 2623 25% Cosmo Position: EBITDA 470 371 26% BOPP capacity of 277k MT • Glob
Slide 17: BOPP Specialty margins remain intact
BOPP Specialty margins remain intact Quarterly movement in Films margin 100% 80 90% 70 80% 64 66 65 63 63 60 56% Films Volume (%) 58% 57% Gross Margin/Kg 70% 60% 70% 50 60% 44 43 50% 40 40 36 40% 33 30 30% 25 22 21 20 20 20% 42% 44% 13 40% 30% 43% 10 10% 0% - Q4'FY25 Q1'FY26 Q2'FY26 Q3'FY26 Q4'FY26
Slide 18: BOPP Specialty sales continue to grow (10% CAGR)
BOPP Specialty sales continue to grow (10% CAGR) Expanding Speciality & Semi-Speciality films portfolio (high margin category) (~ 10% CAGR over last 7 years) 120% 80 100% Annual Movement in Films67Margins 70 65 65 60 60 Films Volume (%) Gross Margin/Kg 58 57 55 80% 38% 43% 55 50 52% 58% 46 64% 45
Slide 19: Manufacturing & Sales Footprints
Manufacturing & Sales Footprints Waluj,Aurangabad,India TOTAL INSTALLED CAPACITY BOPP 6 lines Thermal 2 lines 2,77,000 TPA 26,000 TPA 30,000 TPA (10 lines) (7 lines) (1 lines) Coating 5 lines BOPP- largest in India Thermal BOPET Metalising 5 lines CPP 2 lines BOPET 1 line 45,000 TPA 57,000 TPA 30,00
Slide 20: Growing Specialty Films Product Portfolio Contd.
Growing Specialty Films Product Portfolio Contd. PACKAGING FILMS GRAPHICS LABEL FILMS INDUSTRIAL FILMS o Print & Pouching Films o Green Graphic PVC free o Pressure Sensitive Label o Tape & Textile Films o Barrier Films o Synthetic paper for ID stock films o Cable Overwrap o Overwrap Films cards, Tag
Slide 21: R&D Focus: Largest Flexible Packaging R&D Infrastructure in India
R&D Focus Largest Flexible Packaging R&D Infrastructure in India - Driving Specialty Growth R&D Infrastructure Innovative Product Launches • Centralized R&D lab in Aurangabad (Waluj) • Green Graphics (PVC free) – import substitute • 30+ R&D resources (increased significantly in last 2 • TR BOPP film
Slide 22: Trusted Partners- Dominant global brands
Trusted Partners- Dominant global brands Trusted partner to prestigious portfolio of large blue-chip companies and renowned brands . . Disclosure: All these are trademarks of respective Owners Slide 21 of 39
Slide 23: Business Overview – Speciality Chemicals
Business Overview – Speciality Chemicals Slide 22 of 39
Slide 24: Strong performance By Speciality Chemicals
Strong performance By Speciality Chemicals ₹204 Cr 20% ₹53 Cr 26% 350-400 Cr FY26 Revenue Revenue Growth CAGR last FY26 EBITDA EBITDA Margin FY30 Target Revenue two years vs ₹33 Cr in FY25* vs 18% in FY25 vs ₹187 Cr in FY25 FY25 → FY26 YoY KEY HIGHLIGHT EBITDA increase : ₹33 Cr → ₹53 Cr | Margin exp
Slide 25: 3 Niche Verticals — R&D Driven, High ROCE, Scalable
3 Niche Verticals — R&D Driven, High ROCE, Scalable High-Value Add · Import Substitution · 25%+ ROCE · 20%+ EBITDA Business· Captive + External Market Scale-up Coating Chemicals Masterbatches Adhesives Capacity: 7,000 MT Capacity: 10,000 MT Capacity: 2,800 MT India Market Industry Growth India Filmi
Slide 26: Business Overview – Rigid Packaging (Cosmo Plastech)
Business Overview – Rigid Packaging (Cosmo Plastech) Slide 25 of 39
Slide 27: Cosmo Plastech — End-to-End Rigid Packaging Solutions
Cosmo Plastech — End-to-End Rigid Packaging Solutions End-to-End Rigid Packaging — Business Summary Operational ₹92 Cr 84% EBITDA 56% 18,000 FY26 Revenue Revenue Growth YoY Capacity (MT) Breakeven Brand Sales Mix Brand Sales (56%) & Speciality focus | FY30 Target: ₹350–400 Cr | Double-digit EBITDA &
Slide 28: Business Overview – Cosmo Consumer
Business Overview – Cosmo Consumer Slide 27 of 39
Slide 29: Window Films & Paint Protection Films — Market Opportunity
Window Films & Paint Protection Films —Market Opportunity 1/2 ₹23 Cr ₹9.4 Cr 150+ 60+ 30% FY26 Revenue Q4 FY26 Revenue Window Film PPF Industry Growth PPF Distributors Distributors/Dealers rate Cosmo Consumer total ₹25 Cr+ annualised run Pan-India network built 10 city direct partners 3-year growth
Slide 30: Product Portfolio & Differentiation
Product Portfolio & Differentiation High-Margin · High-Growth · Target FY30 200 Cr Revenue COSMO SUNSHIELD — Window Films COSMO PPF — Paint Protection Films Started May 2025 | India Heat Control Film Industry: ~₹1,000 Cr pa India Industry ~₹500 Cr | Growing 30% YoY | Penetration: 1–2% vs China 15% A
Slide 31: Business Overview – Petcare (Zigly)
Business Overview – Petcare (Zigly) Slide 30 of 39
Slide 32: Zigly — Tapping India's High-Growth Pet Care Industry
Zigly — Tapping India's High-Growth Pet Care Industry Zigly — Services-Led D2C Omni-Channel Petcare Platform INDIA PET CARE MARKET GMV Run-Rate: Hospitals: INR 90 Cr Q4 annualized (+91% YoY) 2 Vet hospitals acquired ₹25,000 Cr Sales Growth: SKUs: FY26 INR 55 Cr Up 63% YoY (FY26 vs FY25) 5,000+ on pl
Slide 33: Financial Overview & ESG
Financial Overview & ESG Slide 32 of 39
Slide 34: Financial Overview — Net Debt & Net Worth Trajectory
Financial Overview — Net Debt & Net Worth Trajectory ₹1,159 Cr 0.7x 2.4x Minimal Net Debt (Mar-26) Net Debt / Equity (Mar- 26) Net Debt / EBITDA (Mar- 26) Capex Ahead Growing Net Worth (₹ Cr) 1800 1617 1600 1466 1298 1348 1400 1191 1200 1000 854 800 600 400 200 0 FY21 FY22 FY23 FY24 FY25 FY26 Shareh
Slide 35: Board of Directors — Well Diversified & Independent
Board of Directors — Well Diversified & Independent Mr. Ashok Jaipuria Ms. Yamini Kumar (Jaipuria) Mr. A K Jain Mrs. Alpana Parida Mr. Pratip Chaudhuri Chairman & MD Director — Strategy, ESG & CSR Director — Corporate Affairs Independent Director Independent Director 40+ years corporate experience,
Slide 36: Professional Management — Experienced Leadership
Professional Management — Experienced Leadership PP JN MK SR Mr. Kulbhushan Malik Mr. Saurabh Jain Mr. Pankaj Poddar Mr. Neeraj Jain Group CEO Group CFO Global Business Head — Cosmo Films CEO - Zigly & Head Corporate Development 27+ years in leadership, general 25+ years in finance, strategy & risk
Slide 37: Cosmo First – ESG at a Glance
Cosmo First – ESG at a Glance ★ CareEdge "Good" ESG Rating ENVIRONMENTAL SOCIAL GOVERNANCE 1.02 Lac MT 35%+ ₹2.8 Cr 7,78,000 60% 2 Water Treated CSR Spend FY26 Lives Touched Independent Women Carbon Emission CO₂ at Cosmo Through CSR Directors Directors Reduction (Scope 1) ~50% 12%+ 160K+ Women 6 88%
Slide 38: Awards & Accolades — Recognition of Excellence
Awards & Accolades — Recognition of Excellence FY25–26 FY23–24 • Received ISO 45001:2018 certification across its major • IFCA Star Awards 2023 — Super Barrier BOPP Film & High manufacturing units in Waluj, Shendra and Karjan Puncture Resistant BOPP Film • SIES SOP Star Awards 2026 for our CPP Film
Slide 39: Safe Harbour
Safe Harbour This document, prepared by Cosmo First Limited is solely for information purposes and does not constitute any offer, invitation, recommendation, invitation to purchase or subscribe to any of company’s securities, and shall not form the basis of or be relied on in connection with any con
Slide 40: Thank You
Thank You For more information, please contact: Cosmo First Ltd. Mr. Neeraj Jain Group Chief Financial Officer Email ID: neeraj.jain@cosmofirst.com Mr. Shivang Goel Investor Relations Email ID: shivang.goel@cosmofilms.com Slide 39 of 39