H1 FY 26 Post Earnings Conference Call
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Awaiting price reaction for this filing.
Cosmic CRF reported strong H1 FY26 consolidated results, with revenue surging ~80% YoY to INR 304.5 crores, EBITDA up ~73% to INR 37.8 crores, and PAT up ~40% to INR 24.5 crores. EBITDA margins expanded sharply from 9.48% to 15.5%, supported by operational cost reduction from INR 6,000 to INR 1,600 per metric ton. The consolidated order book stands at INR 615 crores (up from INR 521 crores) and total installed capacity is now 1,45,000 metric tons across the group, with standalone capacity rising from 36,000 MT to 55,000 MT. Management is awaiting the NCLT hearing on November 18, 2025 for the Amzen acquisition and stated that no equity dilution is planned till March 2028. The company is also pursuing a new wagon manufacturing foray and a forging unit expected to begin commercial production by April-May 2026.
Sharp revenue growth, margin expansion, and a growing order book are positives for investors; however, the Amzen acquisition remains the key value driver, and a favourable NCLT ruling could be a major upside catalyst, while any further delays remain a risk.