Transcript of the conference call for the Analysts/Investors, which was held on May 14, 2026, is enclosed herewith.
EPL · price
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EPL Limited reported exceptional Q4 FY26 results with 17.6% revenue growth (highest in 5 years) and 20.2% EBITDA margin, marking the 7th consecutive quarter above 20%. The company announced a proposed merger with Indovida, creating a nearly $1 billion consumer packaging platform that will be margin and value accretive. Beauty & Cosmetics delivered record 30% growth, while Oral Care recovered with 10% growth. The Middle East crisis is impacting raw material costs, but management confirmed over 50% of business has contractual pass-through arrangements and is confident of full cost recovery. Thailand plant is on track with volumes expected from FY27. Capex was INR 480+ crore with depreciation at INR 385 crore. Net debt to EBITDA improved to 0.52x.
The strong operational performance demonstrates business resilience despite macro headwinds. The Indovida merger and continued focus on Beauty & Cosmetics positions the company for sustained growth, though temporary margin pressure may occur from Middle East raw material inflation until fully passed through. Dividend suspension during merger period is standard practice.