NSE: EUROBOND · BSE: 544461
EURO PANEL PRODUCTS LTD
Manufactures Aluminium Composite Panels (ACP), aluminium sheets, coils and allied metal products under the EUROBOND brand, primarily serving construction and facade applications. In FY26, standalone revenue was Rs 503.20 crore with EBITDA margin of 11.26%. Materials account for 74% of revenue, making raw inputs the largest cost, followed by other operating expenses at 12% and employee costs at 7.4%. The business exports to over 23 countries across the Americas, Europe, Middle East, and Africa. It is expanding into adjacent categories through a 51%-owned subsidiary, Euro Sealant Private Limited in Tamil Nadu producing professional-grade silicone sealants, and a 70%-owned subsidiary, Eurobond Dimensions Private Limited in Maharashtra, for additional ACP and aluminium sheet capacity. It claims the largest cumulative captive solar capacity in India's ACP industry at 3.6 MW and is the only ACP brand in India with NABL accreditation for 51 mechanical and chemical testing parameters. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Aluminium Composite Panels (ACP), Aluminium sheets, coils and allied products, Silicone sealants (via 51% subsidiary Euro Sealant). Asset-heavy industrial manufacturer of construction facade materials with adjacent diversification into sealants
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 503 |
| EBITDA (ex other income) | 55 |
| margin % | 10.9 |
| Owners' profit | 0 |
| EPS, as reported (₹) | 10.84 |
| ROE % · ROCE % | 16.6 · 25.6 |
| Debt / equity (x) | 0.97 |
| Cash from operations | (3) |
| Capex | (20) |
Exhibit 2: Quarterly performance, last 4 quarters
| ₹ crore | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|
| Revenue | 130 | 127 | 141 | 120 |
| Profit before tax | 9 | 8 | 11 | 7 |
| Net profit | 7 | 6 | 9 | 5 |
| EPS (₹) | 2.70 | 2.33 | 3.48 | 1.95 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PRECISION WIRES INDIA LTD | 7,353 | 41.9 | 9.52 | — | 20.1 | 21.9 | — | — |
| KSH INTERNATIONAL LIMITED | 6,302 | 45.3 | 7.80 | — | 13.6 | 17.3 | — | 7.1 |
| VIDYA WIRES LIMITED | 1,812 | 27.4 | 3.78 | 19.3 | 12.0 | 15.6 | — | 4.6 |
| EURO PANEL PRODUCTS LTD ◆ | 341 | 13.3 | 2.13 | 8.7 | 16.6 | 19.2 | — | 10.9 |
| BEDMUTHA INDUST LTD | 339 | 20.2 | 2.23 | 7.1 | 4.3 | 1.6 | 30.4 | 3.9 |
| CUBEXTUBINGS-ROLLSETT | 290 | 38.5 | 3.48 | — | 8.9 | 10.8 | — | 4.9 |
| CENTURY EXTRUSIONS LTD | 144 | 11.6 | 1.74 | — | 13.2 | 16.9 | — | 7.8 |
| M TEK COPPER LIMITED | 136 | 21.2 | 2.71 | — | 10.6 | 14.0 | — | 3.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.3 | 24.3 | 3 of 10 | 78% |
| P/B | 2.1 | 2.5 | 4 of 10 | 67% |
| ROCE | 19.1 | 14.8 | 2 of 10 | 89% |
| ROE | 16.6 | 11.3 | 2 of 10 | 89% |
| Debt / Equity | 1.0 | 0.5 | 9 of 10 | 11% |
| EBITDA margin | 10.9 | 4.6 | 1 of 9 | 100% |
| Market cap | 341 | 314 | 4 of 10 | 67% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · RTA files routine demat compliance certificate for Q2 FY26 | compliance | minimal | — | — |
| 29 Sept 2026 · Trading Window Closure from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 28 Sept 2026 · AGM approves director re-appointments and adds two independent directors | board shareholder meetings | low | — | — |
| 28 Sept 2026 · AGM results: all 7 resolutions passed with near 100% approval | compliance | low | — | — |
| 28 Sept 2026 · Euro Panel Products 13th AGM held on Sep 28, 2026; 7 resolutions voted on | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Board approves Cost Audit Report for FY 2025-26 | compliance | low | — | — |
| 4 Sept 2026 · Newspaper publication of 13th AGM notice and e-voting details | compliance | minimal | — | — |
| 3 Sept 2026 · Annual Report FY25-26 link sent to shareholders without registered email | compliance | minimal | — | — |
| 3 Sept 2026 · AGM cut-off date set for Sep 21, 2026; meeting on Sep 28 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · AGM on Sep 28, 2026; Annual Report FY26 submitted | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.