Slide 1: Cosmo First - Entering Phase of Superior ROCE & Business Scale-Up
Cosmo First - Entering Phase of Superior ROCE & Business Scale-Up Q1 FY27 Investors Presentation Slide 1 of 42 Slide 1 of 42
Slide 2: Agenda
Agenda 01 Strategic Perspective- Short to Mid Term 02 Businesses at a Glance 02 03 03 Q1 FY27 Performance 04 Business Deep-Dives 05 Financial Overview, ESG & Sustainability Slide 2 of 42
Slide 3: 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 in Increasing specialty films volume ~ Building Consumer businesses last three years 10% CAGR (Window Films, Paint Protection Specialty chemic
Slide 4: Cosmo First – Businesses at a Glance
Cosmo First – Businesses at a Glance Slide 4 of 42
Slide 5: High Quality Specialty Focused Businesses: Five Growth Engines
High Quality Specialty Focused Businesses: Five Growth Engines Cosmo Films Specialty Chemicals Cosmo Plastech Cosmo Consumer Zigly Pet Care Since 1981 Since FY21 Since FY25 Since FY26 Since FY21 India's Largest Flexible R&D-Driven Specialty End-to-End Rigid High-Margin Consumer D2C Omni-Channel Pack
Slide 6: ₹1,200+ Cr Capex In The Last 3 years Driving Strategic Growth
₹1,200+ Cr Capex In The Last 3 years Driving Strategic Growth Foundation & Expansion Global Scale & Diversify Established Leadership ►2010: 2nd metallizer line Position in the Films ►2011: Korea plant ►2012: 2nd coating line Business & New ►2006: 3rd and 4th extrusion ►2013: 9th BOPP line,2014: 3rd
Slide 7: Q1 FY27 Snapshot
Q1 FY27 Snapshot Slide 7 of 42
Slide 8: Q1 FY27 — Key Business Tractions
Q1 FY27 — Key Business Tractions Segment-wise momentum across businesses Cosmo Films Specialty Chemicals Cosmo Plastech Cosmo Consumer Zigly Pet Care Flexible Packaging Films Coatings · Masterbatch · Rigid Packaging Window Films & PPF Petcare Adhesives Revenue +45% YoY Revenue +34% YoY Revenue +58%
Slide 9: Q1 FY27 — Performance Snapshot
Q1 FY27 — Performance Snapshot 1,166 54 147 43 800 116 Net Revenue EBITDA PAT Q1 FY27 Q1 FY27 Q1 FY27 ₹1166 Cr Q1FY26 Q1FY27 ₹147 Cr Q1FY26 Q1FY27 ₹54 Cr Q1FY26 Q1FY27 +26% Stable +25% vs ₹800 Cr (Q1 FY26) +46% 12.6% margin EPS: ₹20.7 +14% 479 3,639 156 2,895 362 12M FY26 Revenue 133 12M FY26 EBITDA
Slide 10: Q1 FY27 Performance Snapshot
Q1 FY27 Performance Snapshot Q1 FY27 Q1 FY26 Q4 FY26 FY25-26 FY24-25 In Rs. Crores Net Revenue 1,166 800 1,021 3,639 2,895 EBITDA 147 116 130 479 362 EBITDA% 12.6% 14.5% 12.7% 13.2% 12.5% PBT 71 54 58 201 163 PAT 54 43 37 156 133 EPS (In Rs.) (Not Annualized) 20.7 16.6 14.2 60.3 51.5 Management Comm
Slide 11: Q1 FY27 : Management Commentary
Q1 FY27 : Management Commentary Specialty Chemicals delivered 34% YoY revenue growth and 25% EBITDA in Q1 FY27, led by its three verticals — coating chemicals, masterbatches and adhesives. Cosmo Plastech grew revenue over 58% YoY in Q1 FY27 and turned EBITDA-positive (7% normalized EBITDA). FY27
Slide 12: Deleveraging Underway: Net Debt/EBITDA 2.9x to 2.3x
Deleveraging Underway : Net Debt/ EBITDA 2.9x 2.3x Net Debt as on June 2026 was flat despite net working capital increase by Rs 85 crores due to increased raw material prices post West Asia war. There is clear focus to reduce net debt substantially in next 2 years. Net Debt Movement (Rs Cr) Le
Slide 13: Segment wise EBITDA Breakup
Segment wise EBITDA Breakup EBITDA Q1FY27 vs Q1FY26 Segment EBITDA: Q1 FY27 vs Q1 FY26 (₹ Cr) 160 147 140 140 122 120 116 100 EBITDA (₹ Cr) 80 60 40 12 17 20 5* 0 (6) (2) (1) (20) (10) (14) Q1 FY26 Q1 FY27 (40) Flexible Packaging Cosmo Speciality Cosmo Plastech Cosmo Consumer Zigly Petcare Total Rep
Slide 14: Business Overview – Films
Business Overview – Films Slide 14 of 42
Slide 15: Films Business — India's Largest, Focused On Specialty
Films Business — India's Largest, Focused On Specialty Cr India's BOPP Market: ~900K MT pa | ₹13,000 Cr | 8–10% growth Packaging Business Q1 FY27 Q1 FY26 Change % FY26 Sales 1034 714 46% 3265 Cosmo Position: • Largest flexible packaging film producer in India, EBITDA 140 122 15% 470 with BOPP ca
Slide 16: Higher Value-Added Business Driving Margin, Differentiation
Higher Value-Added Business Driving Margin, Differenciation Shift towards specialty films is structurally improving margins and business quality Specialty films delivering significantly higher per kg margins vs base films What Makes Specialty Films Critical Higher value-added applications vs commodi
Slide 17: Specialty Mix Continues To Improve, Base BOPP Margins At Five Quarter High
Specialty Mix Continues To Improve (61%), Base BOPP Films Margins At Five Quarter High Quarterly movement in Films margin 100% 80 90% 70 66 65 80% 64 63 63 60 70% 58% 56% 57% 60% 61% Gross Margin/Kg Films Volume (%) 60% 50 44 45 43 50% 40 36 30 40% 33 30 30% 25 22 20 20 20% 42% 44% 43% 39% 13 40% 10
Slide 18: BOPP Specialty Sales Continue To Grow (10% CAGR)
BOPP Specialty Sales Continue To Grow (10% CAGR) Expanding Specialty & Semi-Specialty films portfolio (high margin category) (~ 10% CAGR over last 7 years) 120% 80 Movement in BOPP Margins 70 100% 65 67 65 63 60 58 57 60 Films Volume (%) 55 Gross Margin/Kg 80% 38% 43% 55 52% 50 64%45 62% 45 64% 58
Slide 19: Manufacturing Strength
Manufacturing Strength Manufacturing Footprint & Capacity Overview Additional Volumes - from current 85% to near full utilization Waluj, Chhatrapati Sambhajinagar Shendra, Chhatrapati Sambhajinagar Karjan, Vadodara Built Specialty BOPP Thermal Coating CPP Thermal Coating BOPP Coating Metalizing capa
Slide 20: Global Presence
Global Presence Global Footprint & Market Presence 100+ countries New Delhi, India 3 Manufacturing Plants Global Presence backed Global Sales Offices Customer Presence Corporate Office In India by Subsidiaries & Warehouses ~50% revenue from exports | Strong Canada global specialty films leadership W
Slide 21: Growing Specialty Films Product Portfolio Contd.
Growing Specialty Films Product Portfolio Contd. PACKAGING FILMS GRAPHICS LABEL FILMS INDUSTRIAL FILMS Print & Pouching Films Green Graphic PVC free Pressure Sensitive Tape & Textile Films Barrier Films Synthetic paper for ID Label stock films Cable Overwrap Overwrap Films cards, Tag
Slide 22: Innovation, R&D Initiatives – Driving Specialty & Sustainable Growth
Innovation, R&D Initiatives – Driving Specialty & Sustainable Growth Largest flexible packaging Centralized R&D centre at Waluj 30+ R&D resources ~0.5% of annual revenue 6 active patents R&D infrastructure in (Chhatrapati Sambhajinagar) including PhDs & global invested in R&D with 11+ in pipeline In
Slide 23: Trusted Partners- Dominant Global Brands
Trusted Partners- Dominant Global Brands Trusted partner to prestigious portfolio of large blue-chip companies and renowned brands FMCG Packaging Beverages Food Service Consumer Electronics Disclosure: All these are trademarks of respective Owners Slide 23 of 42
Slide 24: Business Overview – Specialty Chemicals
Business Overview – Specialty Chemicals Slide 24 of 42
Slide 25: Strong Performance By Specialty Chemicals
Strong Performance By Specialty Chemicals The Margin Engine, A high-margin, R&D-led platform of niche chemistries ₹66 Cr 34% ₹17 Cr 26% New products Q1 FY27 Revenue Revenue Growth Q1 FY 27 EBITDA EBITDA Margin Launched Over Q1 FY26 vs ₹12 Cr in Q1 FY26 vs 24% in Q1 FY26 vs ₹49 Cr in Q1 FY26 ₹204 Cr
Slide 26: 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 27: Business Overview – Rigid Packaging (Cosmo Plastech)
Business Overview – Rigid Packaging (Cosmo Plastech) Slide 27 of 42
Slide 28: Cosmo Plastech — End-to-End Rigid Packaging Solutions
Cosmo Plastech — End-to-End Rigid Packaging Solutions End-to-End ₹32 Cr Rigid Packaging 58% — Business Summary 7% EBITDA Q1 FY27 58% 54% Q1 FY27 Revenue Revenue Growth YoY (EBITDA turnaround) Brand Sales Mix Specialty Mix ₹92 Cr 84% 56% 18,000 Operational EBITDA FY26 Revenue Revenue Growth YoY Brand
Slide 29: Business Overview – Cosmo Consumer
Business Overview – Cosmo Consumer Slide 29 of 42
Slide 30: Window Films & Paint Protection Films - Market Opportunity
Window Films & Paint Protection Films - Market Opportunity 1/2 ₹11 Cr ₹45 Cr ₹-1 Cr EBITDA* Strong Branding Leveraging Films Q1 FY27 Revenue Annualized Run rate Q1 FY27 Focus exports ₹23 Cr ₹9.4 Cr 150+ 150+ 30% FY26 Revenue Q4 FY26 Revenue Window Film PPF Industry Growth PPF Distributors rate Distr
Slide 31: Product Portfolio & Differentiation
Product Portfolio & Differentiation High-Margin · High-Growth · Target FY30 200 Cr Revenue COSMO SUNSHIELD — Window Films COSMO PPF — Paint Protection Films India Industry ~₹500 Cr | Growing 30% YoY | Penetration: 1–2% vs China Started May 2025 | India Heat Control Film Industry: ~₹1,000 Cr pa 15% A
Slide 32: Business Overview – Petcare (Zigly)
Business Overview – Petcare (Zigly) Slide 32 of 42
Slide 33: Zigly — Tapping India's High-Growth Pet Care Industry
Zigly — Tapping India's High-Growth Pet Care Industry INDIA PET CARE Zigly — Services-Led D2C Omni-Channel Petcare Platform MARKET ₹25,000 Cr ( 22% PA Growth) GMV Run-Rate: Hospitals: INR 100 Cr Q1 annualized (+73% YoY) 2 Vet hospitals acquired Sales Growth: SKUs: Q1 FY 27 Net Sales 18.4 Cr vs 10.8
Slide 34: Differentiated Specialty Businesses - Positioned For Higher Profitability
Differentiated Specialty Businesses - Positioned For Higher Profitability Strategic Business Transformation Role of Each Growth Engine Predominantly Multi-business specialty Core cash-generating platform driving scale and films-led portfolio portfolio global leadership. Traditional High-margin innov
Slide 35: Financial Overview & ESG
Financial Overview & ESG Slide 35 of 42
Slide 36: Financial Overview — Net Debt & Net Worth Trajectory
Financial Overview — Net Debt & Net Worth Trajectory ₹1,166 Cr 0.7x 2.3x Minimal Net Debt (Jun-26) Net Debt / Equity (Jun-26) Net Debt / EBITDA (Jun-26) Capex Ahead Growing Net Worth (₹ Cr) 1800 1676 1617 1600 1466 1400 1298 1348 1191 1200 1000 854 800 600 400 200 0 FY21 FY22 FY23 FY24 FY25 FY26 Jun
Slide 37: 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 20+ years retail & marketing Cor
Slide 38: 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 39: Cosmo First – ESG at a Glance
Cosmo First – ESG at a Glance ★ CareEdge "Good" ESG Rating ENVIRONMENTAL SOCIAL GOVERNANCE 1.02 Lac MT 35%+ ₹5.8 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%+ 161K+ Women 6 88%
Slide 40: Awards & Accolades — Recognition of Excellence
Awards & Accolades — Recognition of Excellence FY26–27 (Q1FY27) FY25–26 FY25–26 • Received FIPSA-2026 award for responsible packaging for • Received ISO 45001:2018 certification across its major commercial innovation and commercial sustainability manufacturing units in Waluj, Shendra and Karjan • IS
Slide 41: 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 42: 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 42 of 42