Cosmo First Ltd

- The company plans to spend around Rs.200 crore on additional capex mainly for adding specialty film capacity in the current financial year, largely funded through internal accruals. - There is no indication of major equity fundraising at present. - The company aims to reduce net debt starting next year after completing major capex and expects working capital to stabilize. - Promoter share sale mentioned was for personal financial needs, not linked to company fundraising. - The company intends to potentially separate the pet care business via demerger in 3-4 years, possibly involving private equity or IPO at that time, depending on achieving a critical scale and reduction in losses. - Overall, near-term fundraising focus is on managing existing debt and incremental capex internally; no new major debt or equity issuances have been announced for FY26.

- The company plans to spend around Rs.200 crore capex in the current financial year (FY26) primarily to add specialty film capacity and value-added lines like coating film (Page 6 and 10). - This capex will largely be funded through internal accruals. - Post this year, no significant capex is expected, leading to expected major debt reduction starting next year (Page 6). - The BOPP line with 81,000 MT capacity is expected to commission by Q1 FY26 and is a low-cost production line (Pages 3, 5, 8). - Further investments in specialty BOPP capacity will be required as the company aims to gradually move the new BOPP line production from commodity to specialty films (Page 4). - Some small incremental investments may be needed for Paint Protection Film in the Cosmo Consumers vertical; however, major investment is already done, focus is on brand building and marketing (Page 11).

- Specialty film sales expected to grow above 10% CAGR in FY’26, better than previous years. - Total revenue projected between Rs.3500 to Rs.4000 crore for FY’26, with 10-15% growth expected the following year. - Full utilization of existing and new assets could take revenue close to Rs.5000 crore. - New BOPP line commissioning expected to boost revenue with monthly sales near 5000 MT and gross margin of Rs.7.5 crore. - Specialty and semi-specialty segments are the focus, with specialty sales contributing significantly to exports (55-60%). - Cosmo Consumer vertical (Sun control film and Paint Protection film) expected to generate Rs.25-30 crore in FY’26 and exceed Rs.50 crore in FY’27. - Zigly business focusing on high-margin private label sales to grow profits. - Specialty Chemical subsidiary growing steadily, projected revenues around Rs.350 crore.

- Specialty film sales expected to grow over 10% CAGR in FY’26, boosting revenues and margins. - FY’26 revenue projected between Rs.3500 to Rs.4000 crore, driven by full utilization of new BOPP, specialty film, and rigid packaging capacities. - EBITDA likely to improve with stable specialty segment margins and increasing contribution from new business verticals (targeting 18%-20% of revenue). - New BOPP line expected to generate at least Rs.70-80 crore gross margin annually at ~90% utilization, enhancing bottom-line. - Sun control film vertical projected to reach Rs.25-30 crore revenue in FY’26 with losses capped at Rs.8-10 crore; profitable outlook by FY’27. - Zigly focusing on private labels and services for margin improvement; retail stores showing 5-10% monthly sales growth. - Overall profitability and EPS expected to improve as recent capex matures, with significant growth anticipated in FY’26 and FY’27.

The transcript does not explicitly mention the current or expected order book or pending orders for Cosmo First Limited. However, relevant insights include: - The company is focused on growing specialty film sales by close to 10% CAGR. - New capacities in BOPP and specialty films are being added and expected to ramp up soon. - The BOPP line with 81,000 MT capacity is expected to be operational by Q1 FY26. - The company expects revenue between Rs. 3500 to Rs. 4000 crore for FY26, indicating strong sales visibility. - Specialty chemical and other verticals like Zigly and Sun Control Film are expected to contribute 18-20% of revenue, suggesting new business inflows. - Management highlighted focus on scaling specialty sales domestically and internationally, with multiple private labels and marketing initiatives underway. No concrete order book number or pending order details were provided during the call.