Board Meeting Details

The Board of Directors meeting was held on Monday, November 2, 2026, commencing at 12:00 Noon and concluding at 01:40 p.m. at the Registered Office in Ahmedabad.

Financial Results Approval

The Board discussed, approved, and took on record the Un-Audited Financial Results (Standalone & Consolidated) for the quarter and half year ended September 30, 2026, along with the Limited Review Report issued by statutory auditors S R B C & CO LLP.

Standalone Financial Performance (Q2 FY2026 vs Q2 FY2025)

  • Revenue from operations: ₹745.99 crore (27% increase from ₹587.36 crore in Q2 FY2025)
  • Total income: ₹751.81 crore (28% increase from ₹589.10 crore)
  • Profit before tax: ₹86.92 crore (24% increase from ₹69.95 crore)
  • Profit after tax: ₹64.42 crore (25% increase from ₹51.52 crore)
  • Basic EPS: ₹14.93 (25% increase from ₹11.94)
  • Diluted EPS: ₹14.93 (25% increase from ₹11.94)

Standalone Financial Performance (H1 FY2026 vs H1 FY2025)

  • Revenue from operations: ₹1,451.35 crore (22% increase from ₹1,193.90 crore)
  • Total income: ₹1,461.27 crore (21% increase from ₹1,203.89 crore)
  • Profit before tax: ₹220.10 crore (25% increase from ₹176.68 crore)
  • Profit after tax: ₹163.60 crore (23% decrease from ₹211.93 crore, due to one-time deferred tax credit in previous year)
  • Basic EPS: ₹37.92 (23% decrease from ₹49.12)
  • Diluted EPS: ₹37.92 (23% decrease from ₹49.12)

Consolidated Financial Performance (Q2 FY2026)

  • Profit after tax: ₹65.08 crore
  • Basic EPS: ₹15.09
  • Diluted EPS: ₹15.09

Consolidated Financial Performance (H1 FY2026)

  • Profit after tax: ₹164.82 crore
  • Basic EPS: ₹38.20
  • Diluted EPS: ₹38.20

Balance Sheet Position (Standalone as of September 30, 2026)

  • Total assets: ₹3,584.14 crore (vs ₹3,505.34 crore as of March 31, 2026)
  • Total equity: ₹2,363.51 crore (vs ₹2,221.47 crore)
  • Non-current borrowings: ₹276.05 crore (vs ₹333.69 crore)
  • Current borrowings: ₹288.87 crore (vs ₹229.30 crore)
  • Cash and cash equivalents: ₹0.85 crore (vs ₹5.02 crore)

Cash Flow Statement (Standalone H1 FY2026)

  • Net cash from operating activities: ₹140.84 crore
  • Net cash used in investing activities: ₹97.24 crore
  • Net cash used in financing activities: ₹47.77 crore
  • Net decrease in cash: ₹4.17 crore

Key Business Developments

1. Taxation: Company exercised option under Section 115BAA of Income-tax Act, 1961 from FY2025-26, resulting in one-time deferred tax credit of ₹80.87 crore recognized in H1 FY2025 and FY2026.

2. Investment in Renewable Power:

  • Entered Share Subscription and Shareholders' Agreement with Prozeal Green Power Private Limited and Pro-Zeal Green Power Ten Private Limited
  • Agreed to invest ₹0.13 crore for 26% equity and ₹21.25 crore in Optionally Convertible Debentures
  • Power producer developing 19.80 MW Wind Solar Hybrid Power plant in Gujarat
  • Energy Supply Agreement signed for 25 years to purchase minimum 51% of power generated
  • Invested ₹0.13 crore in equity and ₹2.13 crore in debentures in Q2 FY2025
  • Further invested ₹5.31 crore in debentures in Q2 FY2026

3. New Subsidiary: Incorporated wholly owned subsidiary "Epigral Advanced Materials Limited" on July 07, 2026, with investment of ₹0.01 crore, for manufacturing chemicals.

Segment Information

Company operations primarily relate to manufacturing and selling of Chloro Alkali & its Derivatives, falling within a single business segment. Sales are substantially in the domestic market.

Auditor's Review

S R B C & CO LLP conducted limited review and concluded that the financial results are prepared in accordance with Ind AS and contain no material misstatements. The review report was issued on November 02, 2026.