EPL Q4 FY26 Call Transcript Details Merger
EPL Limited released the transcript of its Q4 FY26 earnings conference call held on May 14, 2026. Management reported a 17.6% year-on-year revenue surge in Q4 to Rs. 13,005 million and full-year revenue growth of 13% to Rs. 47,631 million. The Beauty & Cosmetics segment drove growth with a record 30% increase. The company provided updates on the proposed merger with Indovida, expected to close by Q4 FY27, and addressed the impact of the Middle East crisis on raw material costs, confirming confidence in full cost recovery.
*this image is generated using AI for illustrative purposes only.
EPL Limited has released the transcript of its Q4 FY26 earnings conference call held on May 14, 2026. The call, hosted by Systematix Institutional Equities, featured management including Mr. Hemant Bakshi, MD & Global CEO, and Mr. Deepak Goyal, CFO. The transcript is now available on the company's website in compliance with Regulation 30 of SEBI LODR Regulations.
Financial Performance Review
During the call, management highlighted that FY26 was a defining year, with the company delivering its highest revenue growth in five years. Consolidated revenue for Q4 FY26 surged 17.6% year-on-year to Rs. 13,005 million, while full-year revenue grew 13.0% to Rs. 47,631 million. EBITDA for the year increased 15.8% to Rs. 9,724 million, with margins expanding to 20.4%.
| Metric | Q4 FY26 | Q4 FY25 | FY26 | FY25 |
|---|---|---|---|---|
| Revenue from Operations (Rs. mn): | 13,005 | 11,054 | 47,631 | 42,133 |
| Net Profit After Tax (Rs. mn): | 1,033 | 1,157 | 3,939 | 3,638 |
| EBITDA (Rs. mn): | 2,632 | 2,246 | 9,724 | 8,396 |
| EBITDA Margin (%): | 20.30 | 20.20 | 20.40 | 19.90 |
Strategic Growth and Merger Update
Mr. Hemant Bakshi stated that the proposed merger with Indovida India Private Limited is a transformational move that will create a nearly $1 billion consumer packaging platform. The combined entity is expected to be margin and value accretive. The management noted that regulatory approvals have been filed, and they hope to complete the merger by Q4 FY27. Until the merger is finalized, both companies cannot declare dividends.
Segment and Regional Performance
Growth was driven by the Beauty & Cosmetics segment, which delivered a record ~30% year-on-year growth, and is now larger than Oral Care in most key markets. Regionally, EAP and the Americas led with 25% and 24.1% growth respectively, while India Standalone grew 11.5%.
| Region / Category | Performance |
|---|---|
| EAP: | 25% YoY growth |
| Americas: | 24.10% YoY growth |
| Europe: | 15.50% YoY growth |
| AMESA: | 10.40% YoY growth |
| India Standalone: | 11.50% YoY growth |
| Beauty & Cosmetics: | ~30% YoY growth |
Outlook and Guidance
Regarding the Middle East crisis, management confirmed that while raw material costs and availability are challenges, they are confident of recovering the full cost impact through price increases, with over 50% of the business covered under contractual pass-through arrangements. The company reiterated its long-term guidance of low double-digit revenue growth in the range of 11% to 13%.
Historical Stock Returns for EPL
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.25% | -3.72% | -6.72% | +3.30% | -11.85% | -15.06% |
How might the merger with Indovida India Private Limited reshape EPL's competitive positioning against global packaging giants like Amcor and Berry Global once the combined ~$1 billion platform is operational?
Given that Beauty & Cosmetics has surpassed Oral Care in key markets, what new customer acquisitions or product innovations could EPL pursue to sustain the ~30% growth trajectory in this segment?
If Middle East tensions escalate further, how vulnerable is EPL's remaining ~50% non-contractual business to margin compression from raw material cost spikes that cannot be passed through to customers?
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
