Epigral Limited announced its unaudited financial results for the quarter ended September 30, 2026 (Q2 FY27) pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Q2 FY27 Financial Performance

  • Revenue increased by 28% year-over-year to ₹752 crore from ₹589 crore in Q2 FY26
  • Profit After Tax (PAT) grew by 26% year-over-year to ₹64 crore from ₹51 crore in Q2 FY26
  • EBITDA stood at ₹136 crore compared to ₹132 crore in the same quarter last year
  • EBITDA margin was 18%, described as muted due to high raw material costs
  • Sales volume grew by 6% year-over-year despite challenging and volatile market conditions
  • Derivatives & Specialty business contributed 57% of revenue versus 50% in Q2 FY26

H1 FY27 Financial Performance (April-September 2026)

  • Revenue rose by 21% to ₹1,461 crore compared to ₹1,204 crore in the same period last year
  • EBITDA stood at ₹315 crore versus ₹296 crore in H1 FY26
  • EBITDA margin was maintained at 22%
  • PAT increased by 25% to ₹164 crore from ₹131 crore in H1 FY26

Strategic Highlights and Expansion Projects

  • Capex spending of ₹88 crore during H1 FY27
  • Board approved two new projects expected to commission by H2 FY28:
  • Epoxy Resin & Formulations plant with capacity of 1,25,000 TPA
  • Multi-Purpose Plant (MPP) downstream for Epichlorohydrin (ECH) and Chlorotoluene Value Chain
  • Pilot plants established for Epoxy Resin & Formulations and MPP to optimize manufacturing process, validate product quality, and facilitate customer approvals
  • CPVC Resin, ECH, and Wind Solar Hybrid Power Plant capacity enhancements in final stages with trial runs underway, expected to commission within a quarter

Management Commentary

Maulik Patel, Chairman and Managing Director, commented that despite challenging operating conditions, the company achieved revenue growth driven by volume growth and improved realizations. He noted that elevated raw material prices impacted EBITDA margins but H1 FY27 performance remained resilient. Management maintains positive outlook for H2 FY27, citing traditionally stronger second-half performance and India's robust demand growth.

Business Overview

Epigral Limited operates as an integrated chemical manufacturer with a manufacturing complex at Dahej, Gujarat. The company produces Caustic Soda, Caustic Potash, Chloromethanes, Hydrogen Peroxide, CPVC, Epichlorohydrin, and Chlorotoluenes Value Chain products, with planned expansion into Epoxy Resin & Formulations.