A dry film coating composition for use in coating pharmaceutical tablets, nutritional supplements, food, confectionery forms, agricultural seeds, and the like, comprises polyvinyl alcohol, self emulsifying glyceryl monostearate, and preferably a plasticizer such as polyethylene glycol, glycerin or triethyl citrate, and a pigment/opacifier. A method of coating substrates such as pharmaceutical tablets, nutritional supplements, food, confectionery forms, agricultural seeds, and the like, with a film coating, comprises the steps of mixing polyvinyl alcohol, self emulsifying glyceryl monostearate, and preferably a plasticizer such as polyethylene glycol, glycerin or triethyl citrate, and a pigment/opacifier into hot water to form an aqueous coating dispersion, applying an effective amount of said coating dispersion onto said substrates to form a film coating on said substrates, and drying the film coating on said substrates.