Cosmo First : Annual ReportFY2022-23

MOVING FORWARD

WITH PURPOSE

ANNUAL REPORT 2022 23

CONTENTS

Corporate Overview

02

About Cosmo First

Our Vision and Mission

Key Highlights

04

Milestones

06

Manufacturing Footprints

07

Subsidiaries

08

Message from the Managing Director

10

Cosmo First's Business

11

Product Portfolio

16

Sustainable Business Practices

17

Sustainable Product Practices

18

CSR Milestones

20

ESG Snapshot

21

10-Year Financial Highlights

22

Media Coverage

23

Awards & Accolades

24

Board of Directors

27

Corporate Information

Statutory Reports

28

Directors' Report

54

Management Discussion & Analysis

66

Report on Corporate Governance

84

Business Responsibility & Sustainability Report

Financial Statements

106-191

Standalone Financial Statement

192-275

Consolidated Financial Statement

Form AOC-I

Cosmo First

Annual Report 2022-23

About Cosmo First

Cosmo First Limited (Cosmo First), formerly known as Cosmo Films Ltd. led by the visionary Mr. Ashok Jaipuria has embarked on a remarkable journey since its inception in 1981. As a leading manufacturer of packaging films, the Company has established a reputation for providing innovative solutions. It has a significant global presence in the specialty films segment, spanning across various regions. In recent years, Cosmo First has expanded its portfolio to include Cosmo Speciality Chemicals having three vertical

• master batch, coating chemical and adhesive and Zigly, a pet care brand that offers a full range of services and products for pets. With a strong leadership team at the helm, Cosmo First is poised to continue its legacy of excellence and growth in the years to come

Vision

To be the most preferred global brand offering value-added oriented films for packaging, labels, lamination and industrial applications.

Mission

For Customers:	For Community:	For Vendors:
To deliver the finest product	To contribute to community	To create symbiotic
and service experience,	growth through	relationships
backed by innovation, people	education and sustainable	that drive mutual
and processes	green practices	growth

For Shareholders:	For Employees:
To generate sustainable long-	To nurture a working
term returns on investment	environment that
with focus on transparency	fosters personal and
and accountability	professional growth

Cosmo First has always taken pride in its ability to provide pioneering niche solutions in packaging, lamination, industrial, and labelling applications. The Company began its journey with a modest 800 MT capacity. But over the last four decades, it has grown to become one of the world's leading film businesses. Cosmo First's inspiring diversifications into speciality chemicals, consumer care, and D2C retail will allow it to become a pioneer in these previously fragmented industries. The Company has consistently remained ahead of the curve in every venture thanks to its robust R&D team, technical expertise, and unwavering ethical values.

Corporate Overview

Statutory Reports

Financial Statements

Key highlights

Financial

` 3,065Cr	` 434Cr	` 244Cr
Revenue	EBITDA	Profit after Tax (PAT)
	% of Sales: 14	% of Sales: 8
Operational
7+	30+	Over
100years
New products	Strength of the	Of collective R&D
launched in FY23	R&D team	Experience
8	8	50%+
Patents Granted	Patents Applied	Targeted Renewal Power
80+	4	8
Number of countries	Number of	Countries with Cosmo First
Cosmo First exports	manufacturing facilities	presence (Offices)
1,148	13,389hours	6,50,000
Number of employees	Training hours	Lives impacted through CSR

02

03

Cosmo First

Annual Report 2022-23

Milestones

Corporate Overview

Statutory Reports

Financial Statements

1981-88	1996-01	2002	2003-05
1981: 1st BOPP line	1996: 3rd BOPP line	Aquired Gujarat	2003: 5th BOPP line
1988: 2nd BOPP line	2001: 4th BOPP line	Propack Ltd.	2004: 6th BOPP line;
			1st metaliser line
			1st extrusion coating line
			2005: 2nd extrusion
			coating line

2006

3rd and 4th extrusion coating line;

1st coating line;

Gas based electricity generation unit

2007-08

2007: 5th extrusion coating line

2008: 6th and 7th extrusion coating line

2015	2012-14
4th and 5th coating	2012: 2nd coating line
line; 3rd metaliser line;	2013: 9th BOPP line
Upgradation of US plant	2014: 3rd coating line

2010-11

2010: 2nd metaliser line

2011: Korea plant

2009

Aquired GBC commercial

8th BOPP line

Established in 1981, Cosmo Films

is the pioneer of BOPP Films

Industry in India;

Today, the Company is a leading Speciality film player globally, and a leading BOPP player in India

2016-17	2018-20	2021	2022	2023
2016: CPP line-1	2018: CPP line-2	Masterbath line-1	Pet care	Specialised
2017: 10th BOPP line	2020: 6th coating line		Textile and Chemicals	BOPET line
				Re-branded
				to Cosmo
				First Limited

04

05

Cosmo First

Annual Report 2022-23

Manufacturing Footprints

Corporate Overview

Statutory Reports

Financial Statements

Subsidiaries

Waluj,

Shendra,

Karjan

Asan,

Aurangabad,

Aurangabad,

Vadodara, India

Korea

India

India

BOPP

BOPP

BOPP

Thermal

5 lines

1 line

3 lines

1 line

Thermal

Thermal

Coating

2 lines

5 lines

1 line

Coating

Coating

Metalising

3 lines

2 lines

2 lines

Metalising

Metalising

CPP

1 line

1 line

1 line

CPP

CSP

1 line

1 line

BOPET

1 line

Total Installed Capacity

BOPP		Thermal		BOPET
1,96,000 TPA	40,000 TPA		30,000 TPA
(9 lines)	(8 lines)		(1 line)
Coating		Metalising		CPP
20,000 TPA	22,000 TPA		10,000 TPA
(6 lines)	(4 lines)		(2 lines)
CSP
7000 TPA
(1 line)

USA

NETHERLANDS

POLAND

SINGAPORE

THAILAND

INDIA

VADODARA

INDIA

MUMBAI

INDIA

AURANGABAD

INDIA

KOREA

JAPAN

CHENNAI

INDIA

NEW DELHI

INDIA

SUBSIDIARIES

SALES OFFICE

06

07