We hereby submits the transcript of Conference call discussing Q4 FY2026 results held on 02.05.2026.

Epigral reported its highest ever Q4 revenue of INR 736 crores, up 22% QoQ driven by 15% volume growth. EBITDA stood at INR 169 crores with a 23% margin, while PAT was INR 82 crores. Full year FY26 revenue was INR 2,542 crores (down 1% YoY) with EBITDA of INR 567 crores and PAT of INR 330 crores (including INR 81 crore one-time tax benefit). Management guided for 10-12% volume growth in FY27, expecting it to be much better than FY26. The West Asia conflict has driven caustic soda prices up 30-35%, and these price increases will be reflected in Q1 FY27 margins. The company is expanding Epichlorohydrin and CPVC capacity (commissioning in Q2 FY27) and targeting chlorine captive consumption to reach 90-95% by FY28. Interest costs were higher at INR 72 crores due to mark-to-market impact from rupee depreciation on foreign currency derivatives.