Cosmo First Q2 FY27 Results: Consolidated Net Profit ₹98.58 Crore on Total Income of ₹1,422 Crore
- Earnings
- Packaging films
Reviewed byKeshav SehgalBlacklitt Research
Cosmo First (NSE: COSMOFIRST) reported consolidated total income of ₹1,421.51 crore and net profit of ₹98.58 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026. Standalone total income was ₹1,372.49 crore and standalone net profit ₹58.62 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,421.51 crore, up 50.5% YoY and 20.0% QoQ
- Net profit: ₹98.58 crore, up 111.1% YoY and 83.4% QoQ
- EPS: Basic ₹37.98, against ₹18.07 a year earlier
- US refund effect: Profit before tax higher by ₹24.81 crore from a customs duty refund appropriation
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,372.49 crore, up 52.9% YoY and 27.5% QoQ
- Net profit: ₹58.62 crore, up 99.0% YoY and 97.8% QoQ
- EPS: Basic ₹22.58, against ₹11.41 a year earlier
- Tax expense: A credit of ₹13.87 crore in the quarter
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,421.51 | 944.41 | +50.5% | 1,184.12 | +20.0% | |
| Revenue from operations | 1,387.86 | 919.03 | +51.0% | 1,173.08 | +18.3% |
| Other income | 33.65 | 25.38 | +32.6% | 11.04 | +204.8% |
| 98.58 | 46.69 | +111.1% | 53.75 | +83.4% | |
| Profit before tax | 98.19 | 57.31 | +71.3% | 70.73 | +38.8% |
| Finance costs | 40.02 | 36.67 | +9.1% | 38.36 | +4.3% |
| Depreciation | 38.86 | 34.47 | +12.7% | 37.88 | +2.6% |
| Tax expense | -0.39 | 10.62 | n/a | 16.98 | n/a |
| Net profit margin | 6.93% | 4.94% | +1.99 pp | 4.54% | +2.40 pp |
| EPS, basic (₹) | 37.98 | 18.07 | +110.2% | 20.71 | +83.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than income. Net profit rose 111.1% to ₹98.58 crore while total income rose 50.5%, and profit before tax rose 71.3%.
Finance costs of ₹40.02 crore are 2.8% of total income, a small share against revenue from operations that rose 51.0%. Other income of ₹33.65 crore is 34.3% of profit before tax, up 32.6% on the year-earlier quarter, and is a larger share of profit than it was in the previous quarter's ₹11.04 crore.
The filing says the US subsidiary received a customs duty refund of USD 6.87 million in July 2026. Of this, USD 2.61 million has been recognised as other income and USD 0.70 million adjusted against inventories, which the company says raises profit before tax by ₹24.81 crore and profit after tax by ₹18.23 crore for the quarter. The final appropriation depends on settlement of refunds to customers. The auditors drew attention to this matter in their review report.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,372.49 | 897.80 | +52.9% | 1,076.63 | +27.5% | |
| Revenue from operations | 1,362.69 | 873.44 | +56.0% | 1,066.17 | +27.8% |
| Other income | 9.80 | 24.36 | -59.8% | 10.46 | -6.3% |
| 58.62 | 29.46 | +99.0% | 29.63 | +97.8% | |
| Profit before tax | 44.75 | 35.99 | +24.3% | 37.93 | +18.0% |
| Finance costs | 39.37 | 36.01 | +9.3% | 37.60 | +4.7% |
| Depreciation | 37.25 | 33.05 | +12.7% | 36.29 | +2.6% |
| Tax expense | -13.87 | 6.53 | n/a | 8.30 | n/a |
| Net profit margin | 4.27% | 3.28% | +0.99 pp | 2.75% | +1.52 pp |
| EPS, basic (₹) | 22.58 | 11.41 | +97.9% | 11.41 | +97.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 99.0% to ₹58.62 crore, against total income growth of 52.9%. Revenue from operations rose 56.0%, while other income fell 59.8% to ₹9.80 crore, which is 0.7% of total income.
Standalone tax was a credit of ₹13.87 crore, against an expense of ₹6.53 crore a year earlier. Finance costs of ₹39.37 crore are 2.9% of total income.
Consolidated net profit of ₹98.58 crore is ₹39.96 crore above standalone net profit of ₹58.62 crore. The filing does not give the reason for the sharp rise in consolidated revenue from operations.
Inference
The filing records that a 50:50 joint venture, Filmax Cosmo Korea Limited, was incorporated with Filmax Corporation, Korea, in the quarter ended 30 Jun 2026, to distribute, sell and market flexible packaging and other products.
The company has elected the concessional tax regime under Section 200 of the Income Tax Act, 2025, from Tax Year 2026-27. Any consequential adjustment from finalising the tax computation will be recognised in the last quarter of the current financial year.
The filing does not give the final amount of the US customs duty refund to be retained after settlement with customers, nor the amount and recovery of the unauthorised bank transfer loss at the Netherlands subsidiary, and it does not say whether the tax rate change will alter the effective tax rate beyond the revised estimate.
Filed with BSE on . Reference: Original filing (PDF)
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