Arthneeti

Epigral Q1 FY27 Share Price & Earnings Call Analysis

₹907.30+0.54% today
Market cap
₹3,914 Cr
P/E
14.40
ROE
15.81%
PEG
-5.45
Price to sales
1.50
Debt to equity
0.26
52W high / low
₹1,706 / ₹810
Sales growth (5Y)
24.99%
EBITDA margin
22.20%
Net profit margin
12.90%
Promoter holding
68.83%
Sales (last year)
₹2,626 Cr

Epigral Limited, formerly known as Meghmani Finechem Ltd, incorporated in 2007, is a leading integrated manufacturer of chemicals.[1]

Guidance scorecard · Q1 FY27 call

What Epigral's management guided
and where it ranks in Chemicals & Petrochemicals

#27of 71 in
Chemicals & Petrochemicals
Revenue20–40%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • Epigral targets a CAGR growth of 15% to 20% in both top line (sales/revenue) and bottom line over the next 3 to 5 years.
  • Growth driven by ramping up existing capacities (chlorotoluenes, caustic soda, CPVC) and commissioning new capacities such as Epoxy Resin, Epichlorohydrin (ECH), and multipurpose plants.
  • The company aims to expand from approximately INR2,500 crores current revenue to around INR3,000-3,500 crores in the near term, and with all plants at optimal utilization, the top line could reach INR4,000+ crores over time.
  • Domestic demand, especially in infrastructure, renewable energy, automotive, and pharmaceutical/agrochemical intermediates, is expected to sustain double-digit volume growth.

2 more points from Epigral's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Epigral said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Total capex in chlorotoluenes around INR 250 crores has been done.
  • Combined peak revenue expected post these projects is INR 1,300 to 1,500 crores.
  • Overall capex including the MPP is expected to result in consolidated top line in the range of INR 700 to 800 crores initially.
  • Capex split: 40% internal accruals, 60% debt.
  • Estimated EBITDA margin for chlorotoluenes/MPP around 22%-23%.

2 more points from Epigral's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Epigral said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The company is progressing with capacity expansion projects for Epichlorohydrin and CPVC resin as per timeline and budget.
  • There is an expected double-digit CAGR demand growth for these products over coming years.
  • Epigral is actively diversifying products, indicating a healthy demand pipeline.

2 more points from Epigral's call on the order book

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Full Q1 FY27 analysis
Full Chemicals & Petrochemicals ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Epigral rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Chemicals & Petrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹263 Cr3.4
240%+Flat₹4,375 Cr83.7
340%+Flat₹3,259 Cr4.0
440%+Flat₹145 Cr15.9
520–40%Up 2%+₹1.81L Cr90.9
620–40%Up 2%+₹48,366 Cr78.3

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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals ranking

Financials of Epigral

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Epigral

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +562455478472525651626645628607587597736
Expenses +407360370349369475448463454443455494568
Operating Profit15595108123155176178183173163132103169
OPM %28%21%23%26%30%27%28%28%28%27%23%17%23%
Other Income +521222643826-1
Interest19182120141427-01223221116
Depreciation30313231303332333442424342
Profit before tax1104856741131311241541311077055111
Tax %30%33%32%34%32%34%35%33%34%-50%26%28%26%
Net Profit +7732384977868110487160523982
EPS in Rs18.487.629.1811.8718.4520.7019.3824.0020.0837.1811.949.0718.99

Financials of Epigral

Profit & Loss

Annual income statement trend

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +3943925987106118291,5512,1881,9292,5502,527
Expenses +2452483464054165671,0411,4991,4481,8391,960
Operating Profit149144252306194261510689481711567
OPM %38%37%42%43%32%32%33%31%25%28%22%
Other Income +21816224861515
Interest191492511294466735372
Depreciation44555554447486109124133168
Profit before tax8875195242141161383523291540342
Tax %23%11%20%25%21%37%34%32%33%34%3%
Net Profit +6767155183112101253353196357333
EPS in Rs9.499.4021.9744.3827.1924.4860.8485.0447.1282.6877.19
Dividend Payout %0%0%0%0%0%0%0%6%11%7%6%

Financials of Epigral

Balance Sheet

Capital structure and asset base

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital7171714142424242424343
Reserves2242914472413314326841,0281,2131,8602,178
Borrowings +19012374601737753993879964593572
Other Liabilities +554279162164223405484576655712
Total Liabilities5405276711,0441,2731,4492,1242,4322,7943,1513,505
Fixed Assets +3643983472954401,1021,0681,8041,7672,2382,117
CWIP6937946869112658915848364451
Investments02971000021219723
Other Assets +10698173281142221467449524752915
Total Assets5405276711,0441,2731,4492,1242,4322,7943,1513,505

Financials of Epigral

Cash Flows

Operating, investing and financing cash movement

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +165229284626398441436
Cash from Investing Activity +-363-197-455-437-401-262-355
Cash from Financing Activity +69-32195-200-8-164-94
Net Cash Flow-129124-11-1115-14
Free Cash Flow-20532-172210-125450
CFO/OP99%99%68%106%93%78%90%

Financials of Epigral

Ratios

Working capital efficiency and return ratios

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days4341474046526028343360
Inventory Days75594558645174699010589
Days Payable3137515262694236635066
Cash Conversion Cycle8663424648349261618883
Working Capital Days434019-27-76-92-26-41-542616
ROCE %18%37%36%15%16%29%32%17%25%15%

Guidance history

How Epigral's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlannedPlanned—
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

6out of 100

Momentum score · price trend

6 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−46.8%6%
Last 6 months−25.4%12%
Last 3 months−17.9%21%

The price is 59.4% below its all-time high of ₹2,232.15 (11 Oct 2024). Stocks more than 20% below their peak have their score halved, so 11 became 6.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Epigral: 0.4 × 6 + 0.4 × 12 + 0.2 × 21 = 11, halved to 6 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Epigral's management said in earlier quarters

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