Specialty Chemicals company Epigral announced Q1FY27 results Standalone Financial Highlights: The company reported a Revenue from operations of Rs 705.36 crore in Q1FY27, representing a YoY increase of 16.29% from Rs 606.54 crore in Q1FY26, and a QoQ decrease of 4.18% from Rs 736.16 crore in Q4FY26. Total income for Q1FY27 stood at Rs 709.46 crore, compared to Rs 614.79 crore in Q1FY26 (up 15.40% YoY) and Rs 735.59 crore in Q4FY26 (down 3.55% QoQ). Profit before tax (PBT) for Q1FY27 was Rs 133.18 crore, marking a YoY growth of 24.78% from Rs 106.73 crore in Q1FY26 and a QoQ growth of 20.50% from Rs 110.52 crore in Q4FY26. Profit after tax (PAT) for Q1FY27 was Rs 99.18 crore, a decrease of 38.17% YoY from Rs 160.41 crore in Q1FY26 (which included a one-time deferred tax credit), but an increase of 21.05% QoQ from Rs 81.93 crore in Q4FY26. The Total Comprehensive Income for Q1FY27 was Rs 99.19 crore, compared to Rs 160.29 crore in Q1FY26 and Rs 82.52 crore in Q4FY26. Earnings per share (Basic and Diluted) for Q1FY27 was Rs 22.99, compared to Rs 37.18 in Q1FY26 and Rs 18.99 in Q4FY26. Consolidated Financial Highlights: Consolidated Revenue from operations in Q1FY27 was Rs 705.36 crore, showing a YoY growth of 16.29% from Rs 606.54 crore in Q1FY26 and a QoQ decline of 4.18% from Rs 736.16 crore in Q4FY26. Total income for the quarter ended Q1FY27 was Rs 709.46 crore, up 15.40% YoY from Rs 614.79 crore in Q1FY26 and down 3.55% QoQ from Rs 735.59 crore in Q4FY26. Profit before tax (PBT) reached Rs 133.74 crore in Q1FY27, an increase of 24.98% YoY from Rs 107.01 crore in Q1FY26 and a 22.09% QoQ increase from Rs 109.54 crore in Q4FY26. Profit after tax (PAT) for Q1FY27 stood at Rs 99.74 crore, a YoY decrease of 37.93% from Rs 160.69 crore in Q1FY26 and a QoQ increase of 23.21% from Rs 80.95 crore in Q4FY26. Total Comprehensive Income for Q1FY27 was Rs 99.75 crore, as against Rs 160.57 crore in Q1FY26 and Rs 81.54 crore in Q4FY26. The consolidated Revenue from operations for the full year FY26 was Rs 2,527.18 crore with a PAT of Rs 331.97 crore. Consolidated Earnings per share (Basic and Diluted) for Q1FY27 was Rs 23.12, compared to Rs 37.25 in Q1FY26 and Rs 18.76 in Q4FY26. Business Highlights: Subsidiary Incorporation: Subsequent to the quarter ended June 30, 2026, the company incorporated a wholly owned subsidiary named "Epigral Advanced Material Limited" on July 07, 2026, with the objective of manufacturing chemicals. Power Project Investment: During FY26, the company entered into agreements to invest in 'Prozeal Green Power Private Limited' and 'Pro-Zeal Green Power Ten Private Limited' for a 19.80 MW Wind Solar Hybrid Power plant in Gujarat. The company has agreed to invest Rs 0.13 crore for 26% equity share capital and Rs 21.25 crore in Optionally Convertible Debentures. Energy Supply Agreement: The company entered into an "Energy Supply Agreement" to purchase a minimum of 51% of the power generated by the hybrid power plant for a period of 25 years. The plant is expected to commence operations in the near future. Taxation: Effective from FY26, the company exercised the option under Section 115BAA of the Income-tax Act, 1961, to pay tax at a reduced rate. This resulted in a one-time deferred tax credit of Rs 80.87 crore recognized in Q1FY26 and FY26. Maulik Patel, Chairman & Managing Director, Epigral, said: “Epigral delivered steady growth in Q1FY27 despite severe macroeconomic volatility driven by geopolitical tensions in West Asia. The quarter was marked by fluctuations in raw material and finished goods prices, alongside elevated freight costs and shipment delays. Leveraging its diversified product mix, Epigral successfully navigated these headwinds to achieve 15% revenue growth and an EBITDA margin of 25%. While geopolitical challenges persist, operating conditions have stabilized. Backed by India’s strong economic growth trajectory, management maintains a positive outlook. To drive future diversified growth, the Board approved strategic investments in a new Epoxy Resin & Formulations plant and a Multi-Purpose Plant (MPP). Both expansions will enhance efficiency within Epigral’s integrated manufacturing complex by utilizing internal raw materials. Specifically, the Epoxy Resin plant will consume ECH and Caustic Soda, while the MPP will be downstream of Epichlorohydrin and Chlorotoluenes Value Chain. The Epoxy Resin plant will cater to domestic and global demand across the renewable energy, infrastructure, electronics, automotive, and industrial sectors. Concurrently, the MPP will meet rising domestic demand for pharmaceutical and agrochemical intermediates and water treatment chemicals. These investments reflect Epigral's ongoing commitment to building an integrated manufacturing platform and diversifying its portfolio to deliver long-term stakeholder value.” Result PDF
Specialty Chemicals company Epigral announced Q4FY26 & FY26 results Standalone Financial Highlights Revenue from operations for Q4FY26 was Rs 736.16 crore, an increase of 17.29% YoY compared to Rs 627.63 crore in Q4FY25 and a growth of 23.28% QoQ against Rs 597.12 crore in Q3FY26. Total income for Q4FY26 stood at Rs 735.59 crore, up 16.57% YoY from Rs 631.03 crore and up 22.05% QoQ from Rs 602.68 crore. Net Profit after tax for Q4FY26 was Rs 81.93 crore, reflecting a decrease of 5.41% YoY from Rs 86.62 crore but a substantial growth of 109.27% QoQ from Rs 39.15 crore. For FY26, Standalone Revenue from operations was Rs 2,527.18 crore, showing a marginal decline of 0.90% compared to Rs 2,550.13 crore in FY25. Annual Net Profit after tax for FY26 reached Rs 333.01 crore, down 6.64% from Rs 356.70 crore in the previous financial year. Earnings per share (not annualized) for Q4FY26 was Rs 18.99, while the annual EPS for FY26 stood at Rs 77.19. Consolidated Financial Highlights Consolidated Revenue from operations for Q4FY26 reached Rs 736.16 crore, marking a 17.29% YoY increase from Rs 627.63 crore and a 23.28% QoQ increase from Rs 597.12 crore. Total consolidated income for the quarter was reported at Rs 735.59 crore, up 16.57% YoY and 22.05% QoQ. Consolidated Net Profit after tax for Q4FY26 was Rs 80.95 crore, representing a 6.84% YoY decline from Rs 86.89 crore but an increase of 107.01% QoQ compared to Rs 39.11 crore. For the full year FY26, Consolidated Revenue from operations stood at Rs 2,527.18 crore, compared to Rs 2,550.13 crore in FY25, a decrease of 0.90%. Annual Consolidated Net Profit after tax for FY26 was Rs 331.97 crore, a 7.19% decrease from Rs 357.69 crore in FY25. Consolidated annual earnings per share for FY26 was Rs 76.95. Business Highlights Segment Performance: The company’s business activities fall within a single business segment, namely "Chloro Alkali & its Derivatives," which accounts for its entire operational performance. Dividend: The Board of Directors recommended a final dividend of Rs 5.00 (50%) per Equity Share of face value of Rs 10 each for FY26. Taxation: Effective from FY26, the company exercised the option permitted under Section 115BAA of the Income-tax Act, 1961. This resulted in the recognition of a one-time deferred tax credit of Rs 80.87 crore in the Statement of Profit and Loss. Investment in Renewable Energy: During FY26, the company entered into a Share Subscription and Shareholders' Agreement to invest Rs 0.13 crore for a 26% equity stake and Rs 21.25 crore in Optionally Convertible Debentures of Pro-Zeal Green Power Ten Private Limited. The investment supports a 19.80 MW Wind Solar Hybrid Power plant in Gujarat. Labour Codes: The company assessed the incremental liability for gratuity and leave encashment regarding the new Labour Codes notified on November 21, 2025, and concluded the impact is not material to the financial results. Maulik Patel, Chairman & Managing Director, Epigral, said: “In Q4FY26, we delivered record revenue of Rs 736 crore, driven by a 15% sequential increase and 14% YoY growth in volumes. This performance reflects strong demand conditions and a full recovery post-scheduled maintenance in Q3. Improved utilization levels and stabilization in raw material costs supported EBITDA margins of 23%. While FY26 saw some impact due to an extended monsoon and planned maintenance in the first half, demand recovery began in November and strengthened through Q4. We expect this momentum to continue into FY27, subject to global macro conditions”. “Our diversified product portfolio continues to provide resilience amid geopolitical uncertainties, including developments in West Asia. At the same time, our ongoing capex projects for Epichlorohydrin and CPVC expansion are progressing as planned and within budget. Once commissioned, these plants will address India’s growing demand and enhance our financial performance. With these projects nearing completion and a pipeline of new initiatives focused on further integration, we are well-positioned to deliver consistent growth and long-term value for our stakeholders.” Result PDF
Specialty Chemicals company Epigral announced Q3FY26 results Plant utilization stood at 78% similar to previous quarter. The company posted a revenue of Rs 603 crore for Q3FY26 as against Rs 649 crore recorded in Q3YF25. EBITDA margin stood at 17% vs 23% in Q2FY26 on account of drop in realizations and increase in cost of raw materials. PAT stood at Rs 39 crore compared to Rs 104 crore in Q3FY25. Maulik Patel, Chairman & Managing Director, Epigral said: “This quarter delivered marginal sequential topline growth. While demand softened before mid-November due to extended monsoon conditions, the market has strengthened notably since then, and we anticipate sustained positive momentum ahead. Margins in Q3FY26 reflected temporary pressures from softer realizations on select products, elevated raw material costs, and inventory dynamics. With the improving market scenario, we anticipate positive outcomes starting Q4FY26. Our capacity expansion projects for CPVC, Epichlorohydrin, and Wind Solar Hybrid Power Plant are progressing smoothly on schedule, set for timely commissioning. These initiatives will drive growth from FY27 onwards. We're also advancing new projects and look forward to sharing updates soon. We remain committed to our journey of scalable, profitable growth optimizing capital allocation, enhancing integration, and delivering lasting value for all stakeholders.” Result PDF
Specialty Chemicals company Epigral announced Q2FY26 results Q2FY26 Financial Highlights: Plant utilization stood at 78% vs 73% in previous quarter Sales volume grew by 2% compared to previous quarter QoQ Revenue dropped by 4% to Rs 589 crore on account of drop in realizations in few of the products EBITDA margin stood at 23% vs 27% in Q1FY26 on account of drop in realizations and lower utilization PAT stood at Rs 51 crore H1FY26 Financial Highlights: Plant utilization stood at 75% vs 83% in H1FY25 Sales volume dropped in H1FY26 majorly on account of off season for few of the products and we expect sales volume to improve in H2FY26 Revenue dropped by 6% to Rs 1,204 crore on account of drop in sales volume EBITDA margin stood at 25% vs 28% in H1FY25 on account of drop in realizations and lower utilization Net Debt stood at Rs 496 crore vs Rs 489 crore as on 31st March 2025 ROCE stood at 21% and Net Debt/EBITDA stood at 0.8x Maulik Patel; Chairman and Managing Director – Epigral said: “This quarter ended with lower revenue on account of low sales volume and drop in realization of few products. Volume drop was majorly on account of extended monsoon which is off season for few products. Overall plant utilization stood at 75% for H1FY26 and we expect utilization to improve in H2FY26, as extended monsoon is over and maintenance work at plant is also completed, resulting in better H2 compared to H1. Our project to expand capacity of CPVC, Epichlorohydrin and Wind Solar Hybrid power plants are moving as per schedule and expected to be commissioned within committed timelines. These projects will drive growth from FY2027 onwards. We have further moved a step closer for the new projects. We will be announcing the same once it is freezed and approved by the board. We will continue to advance along our path of scalable profitable growth, optimize capital allocation, strengthen our integration, and create enduring value for all stakeholders.” Result PDF
Specialty Chemicals company Epigral announced Q1FY26 results YoY Revenue dropped by 6% to Rs 615 crore. Revenue contribution from Derivatives & Specialty business stood at 50%. EBITDA dropped by 7% to Rs 163 crore, however EBITDA margin remained unchanged at 27% on account of sustained focus on efficiency and product mix. PAT stood at Rs 160 crore, however PAT excluding deferred tax liability benefit stood at Rs 79 crore as against Rs 86 crore in Q1FY25. Plant utilization stood at 73%. ROCE grew to 24% as on 30th June 2025 vs 21% as on 30th June 2024 due to improved earnings. Net Debt/EBITDA reduced to 0.6x as on 30th June 2025 vs 1.6x as on 30th June 2024 on account of improvement in EBITDA and reduction in Net Debt. Maulik Patel; Chairman & Managing Director, Epigral said: “Q1FY26 quarter ended with slightly lower volume and drop in realizations, however we maintained our EBITDA margin of 27% on account of sustaining efficiency level and better product mix. We expect H2FY26 to be stronger compared to H1FY26. Revenue contribution from Derivatives and Specialty business stood at 50% and we expect this to further increase. Our capex projects of expanding CPVC and Epichlorohydrin capacity are moving as per schedule and are expected to be commissioned within the target timeline and budget. We are still left with a land parcel in the current complex for which we will announce a capex to further strengthen our integrated complex. We are working on the new chemistry at our new land parcel. This new chemistry project will be on similar lines of our earlier projects, i.e. import substitution products where demand is expected to grow in double digits and where we can generate good ROCE. We continue our journey to move forward in our direction of scalability with profitability, strengthening our integration and creating value for our stakeholders.” Result PDF
Specialty Chemicals company Epigral announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: YoY Revenue grew by 20% to Rs 631 crore, on account of volume growth from Derivative products. Revenue contribution from Derivatives & Specialty business increased to 52% in Q4FY25 vs 48% in Q4FY24. EBITDA grew by 12% to Rs 173 crore vs Rs 155 crore in Q4FY24, and EBITDA margin stood at 28%. PAT rose by 13% to Rs 87 crore. ROCE grew to 25% as on 31st March 2025 vs 18% as on 31st March 2024 due to improvement in earnings. Net Debt/EBITDA significantly reduced to 0.7x as on 31st March 2025 vs 2.0x as on 31st March 2024 on account of improvement in EBITDA and reduction in net debt. FY25 Financial Highlights: Highest ever revenue of Rs 2,565 crore, growth of 33% on account of volume growth from Derivative products. Revenue contribution from Derivatives & Specialty business increased to 54% in FY25 vs 45% in FY24. EBITDA grew by 48% to Rs 711 crore vs Rs 481 crore in FY24. EBITDA margin stood at 28% in FY25 vs 25% in FY24 on account of a better product mix, led by contribution from new projects. PAT jumped by 82% to Rs 357 crore. Maulik Patel, Chairman and Managing Director, Epigral, said: “We ended FY25 with the highest ever revenue of Rs 2,565 crore, a growth of 33% compared to the previous year. This growth is on account of a volume rise of 11%, majorly from high-value products. Derivatives & Specialty business volume grew by around 24% in FY25, and its contribution to revenue touched 54% compared to 45% in FY24. Considering the growth opportunity, we further announced expanding our CPVC and Epichlorohydrin capacity, which are expected to be commissioned in the first half of FY27 and will contribute from FY27 onwards. Once these projects reach optimum utilisation, our integrated complex will further strengthen. We are geared up and strengthened our position, to grow further, by focusing on import substitute products, further diversifying and increasing Derivatives & Specialty business and with prudence allocation of capital, rewarding our stakeholders.” Result PDF
Conference Call with Epigral Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.