COSMO FIRST LIMITED

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CFL/SE/2024-25/FEB/06 The Manager (Listing) BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001 Scrip Code: 508814 February 11, 2025 The Manager (Listing) Nati

700 MT

ciality Films:33K MT  Metalized Films: 40K MT  CPP Films: 10K MT  Capacitor Metallization Films: 700 MT Strong Financials  Profitability track record  Looking for assertive growth  Net Debt/EBITDA: 2.

71%

l films Unique Proposition  Uniquely positioned with a strong blend of specialty/semi-specialty (71% Dec 24 YTD) and commodity films.  Globally amongst top four in BOPP World’s largest supplier

70%

, over 650k lives touched and over 100k trees planted.  Governance: Strong Independent board with 70% of Independent Directors Company Overview – Businesses Speciality films focused business with tar

80%

ent Directors Company Overview – Businesses Speciality films focused business with target to sell 80% BOPP based volume of speciality films by FY26 (FY24 Speciality 64% and 9M,FY25 71%) End-to-end rig

64%

sed business with target to sell 80% BOPP based volume of speciality films by FY26 (FY24 Speciality 64% and 9M,FY25 71%) End-to-end rigid packaging vertical (From Q3’FY24) Verticals: Masterbatch (From

25%

is D2C, Digital First Omni Channel platform for Pets (Petcare is high growth Industry growing at 25% CAGR) Company Overview - Key Milestones ► Established in 1981, Cosmo Films Ltd.is the pioneer of

10%

nding Speciality & Semi-Speciality films portfolio (high margin category) (YTD 9M FY25 71% volume; ~10% CAGR over last 6 years) ) % ( e m u o V s l m l i F 120% 100% 80% 60% 40% 20% 0% 38%

120%

category) (YTD 9M FY25 71% volume; ~10% CAGR over last 6 years) ) % ( e m u o V s l m l i F 120% 100% 80% 60% 40% 20% 0% 38% 43% 62% 57% 52% 48% FY19 FY20 FY21 64% 62% 64% 36%

100%

ry) (YTD 9M FY25 71% volume; ~10% CAGR over last 6 years) ) % ( e m u o V s l m l i F 120% 100% 80% 60% 40% 20% 0% 38% 43% 62% 57% 52% 48% FY19 FY20 FY21 64% 62% 64% 36% FY22

60%

FY25 71% volume; ~10% CAGR over last 6 years) ) % ( e m u o V s l m l i F 120% 100% 80% 60% 40% 20% 0% 38% 43% 62% 57% 52% 48% FY19 FY20 FY21 64% 62% 64% 36% FY22 38% FY23

40%

71% volume; ~10% CAGR over last 6 years) ) % ( e m u o V s l m l i F 120% 100% 80% 60% 40% 20% 0% 38% 43% 62% 57% 52% 48% FY19 FY20 FY21 64% 62% 64% 36% FY22 38% FY23 36%

“Speciality margin got normalized in FY25 due to better sales mix (supply has started again to specialty export customer for a high margin specialty film).”

“120% 100% 80% 60% 40% 20% 0% 12% 14% 10% 10% 6% 14% 15% 88% 86% 90% 90% 94% 86% 85% Q1'FY24 Q2'FY24 Q3'FY24 Q4'FY24 Q1'FY25 Q2'FY25 Q3'FY25 BOPP Volume BOPET Volume Core Profitability – Consolidated :: Q3’FY25 Q3' FY 2025 11.9% 12.3% 1.2% -0.6% -0.3% Reported EBITDA Speciality Chemicals Pet Care Business Rigid Packaging Packaging Q3 FY25 Performance Snapshot Performance Snapshot Particulars Unaudited Q3 FY 24-25 Unaudited Q2 FY 24-25 Unaudited Q3 FY 23-24 INR Cr.”

“The Company has reached speciality sales of 73% of total volume in Q3, FY25 and 71% in Dec 2024 YTD basis as against 64% in FY24.”

“Standalone 568 46 8% 2 3 1 Consolidated 625 56 9% 10 11 4  BOPET vertical (15% of Company’s Q3, FY25 sales) has also witnessed better margins and posted EBITDA in mid-teens during Q3, FY25.”

“Performance Snapshot – Management Commentary Continues …  The Net Revenue and margins are lower in Q3’FY25 from Q2’FY25 due to temporary break-down in one of the lines causing volume loss of 5%.”

“ BOPP Film margin has also witnessed pressure for few weeks in Q3, FY25 with some capacity commissioning in domestic industry though recovered due to strong demand.”

“The BOPP base film margins are expected to remain subdued in FY26 due to expected capacity addition in the domestic industry.”

“Q2’FY25 also had one time income of 9 crores due to property sales and tax incentives.”

“ Specialty Chemical subsidiary is advancing well to achieve high teens EBITDA and 30%+ ROCE in FY25.”

“Growth projects (BOPP Film line, CPP line and Sun-control Film) are expected to add to the topline and bottom-line from FY26.”

Verticals

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Notes

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Upcoming capacities

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The Pet care market in India is booming with

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Verticals

Masterbatch (From FY21) Coating Chemicals (From FY22) Adhesive (From FY24)  Automotive, architectural, safety & decorative window films (Estimated from FY26)  Paint Protection Film (PPF) Zigly is D2C, Digital First Omni Channel platform for Pets (Petcare is high growth Industry growing at 25% CAGR) Company Overview - Key Milestones ► Established in 1981, Cosmo Films Ltd.is the pioneer of BOPP Films Industry in India; ► Globally amongst top four in BOPP Specialty films and set to be India’s largest Specialty films and set to be India’s largest BOPP producer post-expansion. ►3rd and 4th extrusion coating line; ►1st coating line; ►Gas based electricity generation unit 2006 ►1996: 3rd BOPP line ►2001: 4th BOPP line 1996-01 ►2012: 2nd coating line ►2013: 9th BOPP line ►2014: 3rd coating line 2012-14 ►2010: 2nd metallizer line ►2011: Korea plant 2010-11 2009 2007-08 ►8th BOPP line 1981-88 ►1981: 1st BOPP line ►1988: 2nd BOPP line 2003-05 ►2003: 5th BOPP line ►2004-5: 6th BOPP line; 1st

Notes

1) Speciality margins per/kg have witnessed a marginal decline in FY24 owing to change in sales mix and uneven orders from a specialty export customer for a high margin speciality film. Speciality margin got normalized in FY25 due to better sales mix (supply has started again to specialty export customer for a high margin specialty film). 2) Margins denote per/kg contribution for respective films categories. Films Margin/Volume & Capacity Utilization Quarterly movement in Films margin Films Volume Bifurcation ) % ( e m u o V s l m l i F 120% 100% 80% 60% 40% 20% 0% 65% 64% 61% 66% 69% 72% 73% 35% 36% 39% 34% 31% 28% 27% Q1'FY24 Q2'FY24 Q3'FY24 Q4'FY24 Q1'FY25 Q2'FY25 Q3'FY25 70 60 50 40 30 20 10 - g K / n i g r a M s s o r G Commodity Volume Commodity Margins Speciality Margins Speciality & Semi-Speciality Volume Semi-Speciality Margins Note: Margins denote per/kg contribution for respective films categories. 120% 100% 80% 60% 40% 20% 0% 12% 14% 10% 10% 6% 14% 15% 88% 86% 90% 90% 94% 8

Upcoming capacities

 CPP line (20000 TPA – H2’FY25) - Waluj, Aurangabad  BOPP line (67000 TPA – H1’FY26) – Waluj, Aurangabad Films Business-India Industry Dynamics & Capex Strategy Data Source: AMI/PCI/Other Independent Research and Industry Sources Films Business - Speciality Films Product Portfolio PACKAGING FILMS LAMINATION FILMS LABEL FILMS INDUSTRIAL FILMS o Print & Pouching Films o Tape & Textile Films o Barrier Films o Overwrap Films o Heat resistant Film o Thermal Lamination & Wet o Pressure Sensitive Label Lamination o Special Application Lamination Films o Premium Lamination Films stock films o Direct Thermal Printable films o In-Mold films o PETG Shrink Labels o Wrap Around label films o Synthetic paper o Cable Overwrap o Other Specialized Film o Metallized Capacitor Films Films highlighted above in red color are Specialty Films, while with blue color include both specialty & non-specialty Disclosure: All these are trademarks of respective Owners Speciality Films Focus  Grow Speciality portf

The Pet care market in India is booming with

• ~25% Projected Annual Growth • ~32MM pets • ~1MM annual adoptions Indian Petcare Market 12000 10000 8000 6000 4000 2000 0 Rs 12500 Cr Rs 3000 Cr Rs 5100 Cr FY 2020 FY 2023 FY 2027 Key Tractions 14 Cr GMV (Q3’25) Zigly - Business Model 60K + Customers served in CFY 7000+ SKUs available 35% - Repeat customers Retail outlets One Stop solution retail outlets offering Products Veterinary Grooming Medicines First Petcare app Under one roof Own E-commerce website and App 7000+ SKUs available on website Including Private label Service Marketplace Other Marketplace Acting as an aggregator for panel of groomers and trainers on commission basis through own website Private label available on Amazon,Flipkart and Qcom Grooming Van Grooming Van in Delhi NCR 550K + Customers database 205K + Social Media followers Pets familia community Social community with 160K + followers Plan for Petcare Vertical “Zigly”  India Petcare industry INR 5k crores (25% expected growth rate)  Smaller families, rising