Cosmo First, a leading name in specialty BOPP films in India, has declared its financial results for the quarter ended December 2025 & YTD (year to date) December-25. EBITDA in Q3 FY26 improved over the last year on the back of higher sales volume (29%) and improved performance of specialty chemical subsidiaries.
The EBITDA could have been better but for the margin decline of BOPP and BOPET core films, high US tariffs (full quarter impact), volume loss of about 6% due to the shut-down of one BOPP line and non-repetitive inventory loss of Rs 8.4 crore due to a drop in raw material price, the company said.
Net revenue in Q3 FY26 was Rs 899 crore compared to Rs 701 crore in Q3 FY 25. PAT impact was muted due to increased depreciation and interest related to new capacities. Profit after tax in this quarter was Rs 30 crore, same as in the corresponding quarter. EBITDA was Rs 103 crore in Q3 FY 26 compared to Rs 86 crore in Q3 FY25.
The company expects double-digit revenue growth in coming quarters due to enhanced utilization of recently added capacity. Recently announced reduction in the US tariff will lead to improved profitability from the US operations starting from Q1, FY27, once the higher duty paid inventory is exhausted.
Cosmo Plastech (rigid packaging vertical) has reached positive EBITDA in December 2025. Now the focus for the vertical will be on achieving higher profitability through higher capacity utilization and improved efficiency.
Both the consumer businesses Zigly (Petcare) and Cosmo Consumer (Window films, Paint Protection Films & Ceramic Coatings) continue to scale-up. Zigly has posted over 50% topline growth in Q3, FY26 on a YoY basis.
Commenting on the company’s performance, Pankaj Poddar, group CEO, Cosmo First, “The FY26 focus will be on achieving close to full capacity utilization for Film business and faster scaling of new businesses.”
Key developments during the quarter
Films Business (Cosmo Films) It announced a strategic joint venture in South Korea with Filmax Corporation to jointly introduce and scale multiple business verticals of Cosmo First in the South Korean market. Cosmo Films was also honoured with IFCA Star Award for excellence in packaging innovation. Additionally, it launched high-performance packaging films for the pet food industry.
Rigid Packaging (Cosmo Plastech) This sector expanded into rigid packaging solutions for the pharmaceutical industry with PET sheets.
Petcare Business (Zigly Petcare) It expanded its footprint in Western India, opened the first complete pet care centre in Pune, and second one in Jaipur.
CSR & Foundation (Cosmo Foundation): Joined hands with Border Security Force (BSF) for expanding Delhi’s green cover with a 15,000-Miywaki & fruit bearing forestry.
Cosmo Foundation Leadership – Yamini Kumar Jaipuria was honoured as ET NOW Impactful Women Leaders of India 2025 and Impactful CSR Leader of India 2025 at ET Edge GSA Transformation Series,
Corporate / Group-Level Communication Achieved globally recognised Information Security Management System Certificate – IS0/IEC 27001:2022
Founded in 1981 by Ashok Jaipuria, Cosmo First has five businesses, including two in consumer (Zigly Petcare and Cosmo Consumer into window films, paint protection films & ceramic coatings for automobiles) and three in industrial including Cosmo Films (into specialty BOPP, CPP and Polyester films), Cosmo Plastech (thin wall containers & sheets) and Cosmo Specialty Chemicals (Coatings, Adhesives and Masterbatches).
Cosmo Films has been a leading name in specialty BOPP films in India and is currently the largest business for Cosmo First. The other four businesses are relatively newer businesses (all started post Covid) and in the process of being scaled up.
