Established in 1981 by Mr. Ashok Jaipuria, Cosmo First Limited has evolved from a specialty films manufacturer to a diversified corporation with a global presence across 100+ countries. The company operates under the NSE symbol COSMOFIRST and BSE code 508814, maintaining its position as one of the world's largest manufacturers of specialty films for packaging, lamination, and labeling applications.
Cosmo First is a global leader in specialty films and an emerging player in specialty chemicals (Masterbatches, Adhesive & Coating chemicals), Rigid Packaging (Cosmo Plastech) along with the first digital Omni channel Pet care business under the brand name 'Zigly'. This diversified approach has enabled the company to reduce dependency on any single business vertical while exploring new growth opportunities across different sectors.
Cosmo First Limited is engaged in specialty films for packaging, lamination and labeling applications, with its films offerings including biaxially oriented polypropylene (BOPP) films, cast polypropylene (CPP) films and biaxially oriented polyethylene terephthalate (BOPET) films. The company's operations span multiple segments including specialty films, specialty chemicals, rigid packaging, and pet care services, establishing it as a comprehensive solutions provider in its respective markets.
The company's extensive product portfolio encompasses four primary categories of films:
- Packaging Films: Used for any flexible packaging application including Print & Pouching Films, Barrier Films, Overwrap Films, and Lidding Films.
- Lamination Films: Primarily used in print publishing and graphic art film segments.
- Label Films: Enable complete information legibility on a constricted surface area available for brand presentation.
- Industrial Films: Serve as ready-to-use industrial film for useful applications, such as adhesive tapes, textile bags, and long-lasting printing applications.
Beyond films, the company has expanded into specialty chemicals and rigid packaging solutions. Masterbatches represent a concentrated mixture of pigments and additives used for imparting specific desired properties and coloring in plastic, including white masterbatch, anti-stat (with 30% concentration), and master batch for blown films. The Rigid Plastics division specializes in creating customized packaging solutions for FMCG products using injection molding and thermoforming techniques.
In FY22, the company forayed into the pet care vertical through its brand Zigly, operating as a D2C Omni channel business model to address pets' needs at every stage of life. The company has a target of opening 100+ experience centers by FY25/26, with approximately 5,900 SKUs and positioning itself as the first pet care app.
Recent capacity expansion efforts demonstrate the company's commitment to growth:
- In June 2025, Cosmo First commissioned a Rs 400 Cr+ BOPP line, boosting capacity by 40% to 2,77,000 MT annually from June 1, 2025.
- 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.
- A new BOPP line with an annual capacity of 81,000 metric tonnes is set to become operational in Q1 FY26.
As of June 10, 2025, Cosmo First maintains a market capitalization of Rs 2,994.10 crores. Promoter holding in Cosmo First Ltd has gone down to 40.98 per cent as of Mar 2025 from 45.04 per cent as of Jun 2024, indicating some dilution in promoter stake over the period.
The company's recent financial performance shows strong momentum. Key financial highlights for FY25 include:
- Net Revenue: Rs 2,895 crores in FY24-25 compared to Rs 2,587 crores in FY23-24
- EBITDA: Rs 362 crores in FY24-25 with 13% margin compared to Rs 251 crores with 10% margin in FY23-24
- PAT: Rs 133 crores in FY24-25 compared to Rs 62 crores in FY23-24
- EPS: Rs 52 in FY24-25 compared to Rs 24 in FY23-24
For Q4 FY25, the net profit jumped 76.2% to Rs 27.10 crores compared to the same period last year, while revenue jumped 14.49% to Rs 760.88 crores in Q4 FY25. The specialty chemicals subsidiary delivered a topline of Rs 180 crores in FY25, achieving an EBITDA margin in the high teens, reflecting continued growth and a strong return on capital employed (ROCE) in the segment.
- Market Capitalization: Rs 2,994.10 crores (as of June 10, 2025)
- Promoter Holding: 40.98% (as of Mar 2025)
- FY25 Net Revenue: Rs 2,895 crores
- FY25 EBITDA: Rs 362 crores (13% margin)
- FY25 PAT: Rs 133 crores
- FY25 EPS: Rs 52
- Q4 FY25 Net Profit: Rs 27.10 crores (up 76.2% YoY)
- Q4 FY25 Revenue: Rs 760.88 crores (up 14.49% YoY)
Over the past three years, Cosmo First has invested Rs 1,180 crores – including Rs 502 crores in FY25 – across a wide range of strategic initiatives. These investments span multiple areas including BOPP, CPP & Polyester lines, Metallizers, Coating lines, Window/PPF films, Zigly, and Rigid Packaging operations.
The Board of Directors had recommended a dividend of Rs.4 per equity share for the financial year FY 24-25 subject to approval of shareholders in the annual general meeting, demonstrating the company's commitment to shareholder returns alongside growth investments.
Cosmo First Limited stands as a well-established player in the specialty films industry with a clear diversification strategy across multiple high-growth segments. The company's substantial investments in capacity expansion, technological upgrades, and new business verticals position it well for sustained growth in the coming years.
