Epigral slumps after dismal Q2 performance

Epigral tumbled 7.58% to Rs 1526.80 after the company reported 36% fall in consolidated net profit to Rs 51 crore on a 7% fall in total revenue to Rs 589 crore in Q2 FY26 as compared with Q2 FY25.

EBITDA declined by 26% YoY to Rs 132 crore while EBITDA margin contracted by 600 basis points to 23% in the second quarter.

Profit before tax in Q2 FY26 stood at Rs 70 crore, down by 43% from Rs 122 crore in Q2 FY25.

Maulik Patel, chairman and managing director, Epigral, said: "This quarter ended with lower revenue on account of low sales volume and drop in realization of few products.

Volume drop was majorly on account of extended monsoon which is off season for few products. Overall plant utilization stood at 75% for H1FY26 and we expect utilization to improve in H2FY26, as extended monsoon is over and maintenance work at plant is also completed, resulting in better H2 compared to H1.

Our project to expand capacity of CPVC, Epichlorohydrin and Wind Solar Hybrid power plants are moving as per schedule and expected to be commissioned within committed timelines.

These projects will drive growth from FY2027 onwards. We have further moved a step closer for the new projects. We will be announcing the same once it is freezed and approved by the board.

Epigral, formerly known as Meghmani Finechem, is a leading integrated manufacturer of chemicals in India. Epigrals Dahej facility is a backward and forward integrated and automated complex with a well-planned infrastructure. In India, Epigral is the first to set up an Epichlorohydrin plant and largest capacity plant of CPVC. Epigral is also a leading manufacturer of caustic soda, caustic potash, chloromethanes, hydrogen peroxide, chlorine and hydrogen.

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