02-Nov-2026 14:08:28
EPIGRAL Q2 FY27: PAT UP 26% YOY; CPVC & ECH PLANTS NEAR COMMISSIONING, 1.25 LAKH TPA EPOXY RESIN EXPANSION TARGETED BY H2 FY28
• H2 FY27 Outlook: Management expects stronger performance in H2 compared with H1, supported by seasonal demand recovery and ongoing capacity expansion • Quarterly Results: Revenue increased 28% YoY and 6.1% QoQ to ₹752 Cr, while EBITDA grew 3% YoY but declined 24% QoQ to ₹136 Cr • Profitability: PAT increased 26% YoY but declined 36% QoQ to ₹64 Cr • Margin Pressure: EBITDA margin stood at 18% versus 22.4% YoY and 25.2% QoQ, impacted by elevated raw material costs • Sales Volume: Volumes increased 6% YoY, while higher product realisations drove stronger revenue growth • Specialty Chemicals Growth: Derivatives & Specialty business contributed 57% of Q2 revenue versus 50% YoY, reflecting an improving product mix • CPVC & ECH Expansion: Capacity expansion projects are in their final stages, with trial runs underway and commissioning expected within approximately one quarter • Epoxy Resin Expansion: Board-approved 1,25,000 TPA Epoxy Resin & Formulations manufacturing plant targeted for commissioning by H2 FY28 • Multi-Purpose Plant: New MPP project for downstream Epichlorohydrin and Chlorotoluene value-chain products targeted for commissioning by H2 FY28 • Pilot Plant Development: Established pilot facilities for Epoxy Resin and MPP projects to optimise processes, validate product quality and secure customer approvals before commercial production • Renewable Energy Expansion: Wind-solar hybrid power capacity enhancement is in its final project stage, with commissioning expected within approximately one quarter • Capex Investment: Incurred ₹88 Cr capex during H1 FY27, supporting ongoing chemical manufacturing and capacity expansion projects • H1 Performance: Revenue increased 21% YoY to ₹1,461 Cr, EBITDA grew 6.4% to ₹315 Cr and PAT increased 25% to ₹164 Cr • Future Growth Plans: Focused on increasing specialty chemical revenue contribution, expanding high-value product manufacturing and strengthening its integrated Dahej chemical complex • FY27 Guidance: Management maintained a positive H2 outlook but did not provide specific revenue growth, EBITDA margin or total capex guidance
EPIGRAL LIMITED