New Delhi: Epigral Limited, India’s leading integrated chemical manufacturer, announced its financial results for the quarter ended September 30, 2025. The company reported a revenue of ₹ 589 crore in Q2FY26, down from ₹ 632 crore in the same quarter last year. Profit After Tax (PAT) stood at ₹ 51 crore, compared to ₹ 81 crore in Q2FY25.
Chairman and Managing Director Maulik Patel attributed the decline to lower sales volume and reduced realization in select products, primarily due to an extended monsoon season which affected demand for certain off-season products. Despite the dip, plant utilization improved to 78% in Q2FY26 from 73% in the previous quarter, and sales volume grew by 2% quarter-on-quarter.
For the first half of FY26, Epigral recorded a revenue of ₹ 1,204 crore, down 6% year-on-year. Plant utilization stood at 75%, compared to 83% in H1FY25. EBITDA margin for H1FY26 was 25%, slightly lower than 28% in the previous year, reflecting the impact of lower realizations and utilization. Net debt rose marginally to ₹ 496 crore, while ROCE remained strong at 21% and Net Debt/EBITDA stood at 0.8x.
Mr. Patel expressed optimism for the second half of the fiscal year, citing the completion of plant maintenance and the end of the monsoon season. He also highlighted Epigral’s ongoing capex projects, which are progressing on schedule and expected to be commissioned within committed timelines and budgets.
Strategic updates included:
- ₹ 236 crore capex spend in H1FY26
- CPVC resin capacity expansion to 1,50,000 TPA
- Epichlorohydrin capacity expansion to 1,00,000 TPA
- Wind Solar Hybrid Power Plant capacity expansion to 38.14 MW
- Commissioning of India’s first Chlorotoluenes Value Chain plant in March 2025
“These projects will drive growth from FY2027 onwards,” Mr. Patel stated. “We remain committed to scalable, profitable growth, capital optimization, and sustainable value creation for all stakeholders.”
Epigral’s strategic focus on integration, renewable energy, and specialty chemical expansion positions it for long-term resilience and competitiveness in the global chemical market.
