EPL Limited raised its growth guidance to high teens for upcoming quarters. The Co-CEO also confirmed an underlying EBITDA margin of 20%, signaling sustained operational efficiency despite ongoing raw material cost pressures.

Financial Performance

The updated guidance reinforces the company’s trajectory following its Q1FY27 results, where revenue grew by 25.3%. While the previous quarter reported an underlying EBITDA margin of 19.6%, the confirmation of a 20% margin for future periods indicates successful pass-through mechanisms and cost management.

Reported EBITDA in Q1FY27 grew by 15.2%, achieving a margin of 18.8%. On an underlying basis, excluding pass-through impacts from higher raw material prices, revenue grew by 20%. Profit before tax (PBT) increased by 10%, reflecting strong operational execution. However, net profit after tax (PAT) declined by 1.4% due to a higher effective tax rate (ETR), which management attributed to lapping a low base year ETR.

Segment and Regional Growth

Growth was broad-based across product categories and geographies in Q1FY27. Beauty & Cosmetics maintained a trajectory exceeding 20% growth, while Oral Care also crossed the 20% mark. Personal Care & Beyond now accounts for 54% of the portfolio, strengthening the company’s presence in high-growth segments.

Regionally, East Asia-Pacific (EAP) led with 34.3% growth, followed by Americas at 29.4%. Europe and AMESA grew by 20.2% and 17%, respectively. Every region delivered double-digit growth, demonstrating resilient global demand.

What the Numbers Show

The divergence between PBT growth (+10%) and PAT decline (-1.4%) highlights the impact of tax rate variability on bottom-line delivery. With the current quarter’s ETR at 22% compared to last year’s lower base, the profit compression is non-operational. Management projects the full-year ETR to settle between 20% and 22%, suggesting that operational profitability remains strong despite the headline PAT dip.

Additionally, working capital increased by approximately ₹180 crore in the quarter, largely driven by inventory buildup due to rising raw material costs and strategic safety stock accumulation. Receivables days remain under control, indicating that the working capital shift is supply-chain defensive rather than collection-related.

Strategic Outlook and M&A

Management reaffirmed its focus on disciplined capital allocation, with return on capital employed (ROCE) standing at 18.5%. The proposed merger with Indovida received approval from the Competition Commission of India, progressing toward completion within the planned timeline. This transaction aims to expand EPL’s footprint into rigid plastic packaging and new emerging markets in Southeast Asia and Africa.

Sustainability initiatives continue to gain traction, with sustainable tubes accounting for 44% of the overall product mix. The company also recognized multiple innovation awards, including the ETMA Tube of the Year Award, reinforcing its position in differentiated packaging solutions.

EPL Limited has scheduled its 43rd Annual General Meeting (AGM) for September 16, 2026. The meeting will be conducted through video conferencing at 11:00 am.

On August 25, 2026, the company dispatched communications containing web-links and QR codes for its Integrated Annual Report for FY26 and the AGM notice to members who do not have registered email IDs. This disclosure complies with Regulation 36(1)(b) of the SEBI LODR Regulations, 2015.

Agenda Items

The AGM agenda includes ordinary and special business items. Shareholders will vote on the adoption of financial statements and the re-appointment of a director.

Mr. Agrawal is a Non-Executive Director. He holds no securities in the company. His remuneration will consist of sitting fees and reimbursement of expenses.

Cost Auditor Remuneration

The special business item involves ratifying the remuneration for M/s. Jitendrakumar & Associates, appointed as Cost Auditors for FY27. The approved fee is ₹ 1,62,850 plus applicable taxes and out-of-pocket expenses.

Distribution and Access

The Integrated Annual Report and AGM Notice are sent electronically to members with registered email IDs via Bigshare Services Private Limited. Physical communications with web links and QR codes are dispatched to members without registered emails.

Documents are available on the company’s website and the National Securities Depository Limited (NSDL) platform, which facilitates e-voting.

Corporate Governance

Onkar Ghangurde, Head - Legal, Company Secretary & Compliance Officer, signed the communication. The company’s registered office is in Vasind, Thane, while its corporate office operates from Lower Parel, Mumbai.