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Revenue
₹412 Cr
verified against source
Revenue YoY
78%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Cosmic CRF reported a strong FY26 with consolidated revenue of ₹722 crore (up 78% YoY) and PAT of ₹50.6 crore (up 74% YoY), driven by volume growth of 19% and capacity expansion to 1,33,600 MT. The key highlight is the Supreme Court victory in the Amzen Transportation acquisition, where Cosmic is the sole H1 bidder with an LOI expected soon. Management guided for 20-25% revenue growth in FY27 (excluding Amzen) and a long-term vision of 3,500 crore revenue by FY29 with 3,50,000 MT capacity. Risks include global commodity price volatility, potential delays in Amzen closure, and execution challenges in scaling the spring and forging businesses.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects 20-25% revenue growth in FY27 driven by volume growth and stable pricing, assuming government spending remains buoyant.
- Installed capacity to increase from 1,33,600 MT to 1,75,000 MT over the next 12-15 months.
- First commercial production from Amzen expected within 9-12 months of receiving LOI, with full ramp-up by FY29.
- Once RDSO license is received (expected next month), spring margins should improve from near-zero to 10% initially, then 15-18% PAT.
Risks flagged
- Fluctuations in raw material prices could impact margins; management relies on price variation clauses and hedging but admits limited control at scale.
- Despite Supreme Court victory, procedural delays in India could push back LOI and production timelines beyond the guided 12 months.
- Spring business has been operating at low margins due to pending RDSO license; any further delay would continue to weigh on profitability.
- Total debt may rise to ~₹400 crore (term + working capital) for Amzen, increasing interest costs and leverage.
Key quotes
- We are now converting ourselves from CRF section unit alone to a fully integrated wagon ecosystem.
- Believe me, when this asset starts in production, you all are invited to come and see this asset. It is not something that we often see in India.
- FI 2029 you should look at a total of 350,000 metric tons in totality... 100,000 rupees at an average pricing will give you something like 3,500 crores.
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