EP Biocomposites Limited , a company listed on the BSE SME platform, has reported a significant drop in revenue for the half-year ended September 30, 2025. The company's financial results, approved by its Board of Directors on November 3, 2025, reveal substantial changes in key financial metrics compared to the same period last year.

Revenue and Profitability

The company's revenue from operations saw a steep decline of 46.4%, falling to Rs 407.48 lakhs from Rs 760.13 lakhs in the corresponding period of the previous year. This sharp decrease in revenue had a cascading effect on the company's profitability.

The net profit for the half-year stood at Rs 9.04 lakhs, a sharp 89% decrease from Rs 82.53 lakhs reported in the same period last year. Consequently, the basic earnings per share (EPS) dropped to Rs 0.54 from Rs 4.91.

Operational Performance

Despite the revenue decline, EP Biocomposites managed to control its expenses. The total expenses for the half-year were Rs 402.64 lakhs, down from Rs 655.72 lakhs in the previous year. However, this reduction in expenses was not sufficient to offset the impact of the revenue decline on the company's bottom line.

Balance Sheet Highlights

The company's balance sheet as of September 30, 2025, shows some notable changes:

• Cash and cash equivalents decreased to Rs 87.83 lakhs from Rs 161.67 lakhs at the end of the previous financial year.
• Short-term borrowings increased to Rs 154.36 lakhs from Rs 52.60 lakhs.
• Trade receivables saw a slight decrease to Rs 975.20 lakhs from Rs 1,085.68 lakhs.

Auditor's Review

S.P. Bhandare & Associates, the company's statutory auditors, have conducted a limited review of the financial statements. Their report states that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and generally accepted accounting principles.

EP Biocomposites Limited, operating without any subsidiary, associate, or joint venture companies, faces challenges that have led to this substantial decline in revenue and profitability.

EP Biocomposites Limited has clinched a significant contract worth INR 1.25 crore for a state-of-the-art sewage treatment plant at Oil and Natural Gas Corporation Limited's (ONGC) upcoming convention center in Goa. This development marks another milestone in the company's growing portfolio of projects for the Indian oil giant.

Contract Details

The work order, valued at INR 12,508,826.00, was awarded to EP Biocomposites by Shree Riddhi Siddhi Buildwell Limited. The scope of work includes:

• Designing
• Supplying
• Installing
• Testing
• Commissioning

The project involves a 225 KLD capacity Modular Sewage Treatment Plant utilizing MBBR (Moving Bed Biofilm Reactor) Technology. This advanced system will serve ONGC's Convention Center, which is set to become the largest in Goa, capable of accommodating over 5,000 delegates.

Project Significance

This contract is part of the development of ONGC's prestigious Convention Center project. Upon completion, it will stand as Goa's largest convention facility, significantly boosting the state's capacity to host large-scale events and conferences.

Execution Timeline

According to the company's disclosure, the project is scheduled for completion by February 2026, aligning with ONGC's vision for a world-class convention facility.

Company's Track Record

EP Biocomposites emphasized that this contract represents another repeat order from ONGC. The company stated, "We are proud to have been receiving repeat orders & delivering multiple successful projects for ONGC in time bound fashion." This statement underscores EP Biocomposites' consistent performance and growing relationship with the oil corporation.

Financial Implications

While the company noted that this award is in the ordinary course of business, the contract value of INR 1.25 crore is significant. It demonstrates EP Biocomposites' capability to secure and execute projects for major clients like ONGC, potentially contributing to the company's revenue stream and market position in the environmental solutions sector.

Conclusion

This contract win for EP Biocomposites not only strengthens its partnership with ONGC but also showcases its expertise in providing advanced sewage treatment solutions. As the project progresses, it will be interesting to observe how this contributes to the company's growth trajectory and its role in supporting infrastructure development in Goa.