Epigral Limited has informed the Exchange about Investor Presentation
EPIGRAL · price
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Epigral reported Q1FY26 revenue of ₹615 Cr, down 6% YoY, with EBITDA at ₹163 Cr (down 7% YoY) but margin held steady at 27% on the back of efficiency and better product mix. Reported PAT of ₹160 Cr includes a one-time ₹81 Cr deferred tax liability reversal; underlying PAT was ₹79 Cr. The balance sheet strengthened sharply, with ROCE improving to 24% and Net Debt/EBITDA falling to 0.6x from 1.6x a year ago. Management guided that H2FY26 will be stronger than H1FY26 and reiterated capex plans of ~₹780 Cr to expand CPVC Resin (to 1,50,000 TPA) and Epichlorohydrin (to 1,00,000 TPA), both targeted for H1FY27 commissioning. The company is shifting its revenue mix toward Derivatives & Specialty, targeting ~70% contribution by FY28E versus 50% currently.
Margin stability and aggressive deleveraging are positives, but the YoY decline in revenue and core profitability, combined with heavy capex still ahead, keeps near-term earnings growth limited. The structural shift toward higher-value derivatives and the H2FY26 guidance are the key catalysts to watch.