| Metric | Value (₹ Cr) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 597.12 | 1.7% | 7.5% |
| Total Income | 602.68 | 2.3% | 7.2% |
| Expenditure | 548.08 | 5.6% | 10.6% |
| PBT | 54.60 | 21.9% | 64.4% |
| Net Profit | 39.11 | 23.6% | 62.3% |
| OPM | 17.21% | 5.32pp | 0.90pp |
| NPM | 6.49% | 2.20pp | 9.46pp |
| EPS | 9.07 | 23.6% | 62.6% |
Epigral Ltd's Q3FY26 Revenue Stands at ¥ 603 Crore, Despite Temporary Marginal Pressures
30 Jan 2026 · 30 Jan, 3:01 pm
Summary
Epigral Ltd, a leading integrated chemical manufacturer in India, announced its financial results for the quarter ended December 31, 2025. The company posted a revenue of ¥ 603 Crore for Q3FY26, a decrease from ¥ 649 Crore in Q3FY25. The Profit After Tax (PAT) stood at ¥ 39 Crore compared to ¥ 104 Crore in Q3FY25. The plant utilization was at 78%, similar to the previous quarter. The EBITDA margin stood at 17% due to a drop in realizations and increase in raw material costs. The company is optimistic about positive momentum from Q4FY26 onwards. The capacity expansion projects are progressing smoothly and are expected to be commissioned timely.
Key Highlights
- 1
Plant utilization stood at 78% similar to previous quarter
- 2
QoQ Revenue increased by 2% to ¥ 603 Cr with 52% revenue from Derivatives and Specialty business
- 3
EBITDA margin stood at 17% vs 23% in Q2FY26 on account of drop in realizations and increase in cost of raw materials
- 4
PAT stood at ¥ 39 Cr vs ¥ 51 Cr in Q2FY26
- 5
9MFY26 Plant utilization stood at 76% vs 82% in 9MFY25
- 6
Sales volume dropped in 9MFY26 majorly on account of subdued demand because of extended monsoon and lower volume because of maintenance work at plant
- 7
Revenue dropped by 7% to ¥ 1,807 Cr with 51% revenue from Derivatives & Specialty business
- 8
EBITDA margin stood at 22% vs 28% in 9MFY25 on account of drop in realizations and increase in raw material prices
- 9
Net Debt stood at ¥ 557 Cr vs ¥ 521 Cr as on 31 December 2025
- 10
ROCE stood at 17% and Net Debt/EBITDA stood at 1.0x
- 11
Epigral spent ¥ 337 Cr on capex in 9MFY26
- 12
CPVC Resin capacity will reach to 1,50,000 TPA, by adding additional 75,000 TPA
- 13
Epichlorohydrin capacity will reach to 1,00,000 TPA, by adding additional 50,000 TPA
- 14
Wind Solar Hybrid Power Plant capacity will reach to 38.14 MW, by adding additional 19.80 MW
- 15
Epigral commissioned India’s 1** Chlorotoluenes Value Chain plant in March 2025
Management Comments
Mr. Maulik Patel
This quarter delivered marginal sequential topline growth. While demand softened before mid-November due to extended monsoon conditions, the market has strengthened notably since then, and we anticipate sustained positive momentum ahead. Margins in Q3FY26 reflected temporary pressures from softer realizations on select products, elevated raw material costs, and inventory dynamics. With the improving market scenario, we anticipate positive outcomes starting Q4FY26. Our capacity expansion projects for CPVC, Epichlorohydrin, and Wind Solar Hybrid Power Plant are progressing smoothly on schedule, set for timely commissioning. These initiatives will drive growth from FY27 onwards. We're also advancing new projects and look forward to sharing updates soon. We remain committed to our journey of scalable, profitable growth—optimizing capital allocation, enhancing integration, and delivering lasting value for all stakeholders.
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