Epigral Limited (ISIN: INE071N01016), a leading integrated chemical manufacturer in India, has reported its financial results for the second quarter of fiscal year 2026, ending September 30, 2025. The company faced challenges due to extended monsoons but remains optimistic about its future performance and ongoing expansion projects.

Q2 FY26 Financial Highlights

• Revenue: ₹589.10 crore, down 7% year-on-year from ₹632.00 crore in Q2 FY25
• EBITDA: ₹132.00 crore, with a margin of 23%, compared to ₹178.00 crore and 29% margin in Q2 FY25
• Net Profit: ₹51.52 crore, a 36% decrease from ₹80.53 crore in the same quarter last year

H1 FY26 Performance

For the first half of FY26, Epigral reported:

• Revenue: ₹1,203.89 crore, a 6% decrease from ₹1,285.21 crore in H1 FY25
• EBITDA: ₹296.00 crore, with a margin of 25%, down from ₹355.00 crore and 28% margin in H1 FY25
• Net Profit: ₹211.93 crore, including a one-time deferred tax credit of ₹80.87 crore

Operational Insights

The company's performance in Q2 FY26 was impacted by several factors:

• Plant utilization stood at 78%, an improvement from 73% in the previous quarter
• Sales volume grew by 2% compared to the previous quarter
• Extended monsoon season affected demand for certain products
• Drop in realizations for some products contributed to lower revenue and margins

Management Commentary

Maulik Patel, Chairman and Managing Director of Epigral, commented on the results: "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."

Expansion and Future Outlook

Epigral continues to focus on its growth strategy:

• Ongoing projects to expand CPVC and Epichlorohydrin capacities are progressing as scheduled
• CPVC Resin capacity will reach 150,000 TPA with an additional 75,000 TPA
• Epichlorohydrin capacity will increase to 100,000 TPA with an additional 50,000 TPA
• A new Wind Solar Hybrid Power Plant with 19.80 MW capacity is under development

These expansion projects are expected to be commissioned in H1 FY27, potentially driving growth from FY2027 onwards.

Financial Position

As of September 30, 2025:

Conclusion

While Epigral faced challenges in Q2 FY26 due to seasonal factors and market conditions, the company maintains a positive outlook for the second half of the fiscal year. With ongoing expansion projects and expected improvements in plant utilization, Epigral aims to strengthen its position in the specialty chemical business and create long-term value for stakeholders.

Investors and market observers will be watching closely to see if the anticipated volume growth and improved performance materialize in H2 FY26, as the company works towards completing its capacity expansion projects.

Epigral Limited , a prominent player in the Indian market, has released its quarterly financial results for the second quarter and half year ended September 30, 2025, showing strong performance. The company has also announced a key appointment to its leadership team.

Financial Highlights

For the quarter ended September 30, 2025, Epigral Limited reported the following standalone results:

The company's financial performance demonstrates robust growth and profitability in the second quarter.

New CFO Appointment

Epigral Limited has appointed Mr. Rakesh Agrawal as its new Chief Financial Officer and Key Managerial Personnel, effective November 10, 2025. Mr. Agrawal brings over 29 years of experience in accounts, finance, taxation, and cost management. As a Chartered Accountant, he is expected to contribute significantly to the company's financial strategy and operations.

Business Operations

Epigral Limited primarily operates in the manufacturing and selling of Chloro Alkali and its derivatives. This core business continues to be the main driver of the company's revenue and profitability.

Renewable Energy Initiative

During the quarter, Epigral Limited demonstrated its commitment to sustainable practices by investing in a renewable energy project. The company invested ₹0.13 crores in equity share capital and ₹2.13 crores in optionally convertible debentures of Pro-Zeal Green Power Ten Private Limited. This move aligns with the growing trend of corporations investing in green energy solutions.

Market Implications

The strong financial results and strategic appointment may positively impact investor sentiment towards Epigral Limited. The company's focus on its core business, coupled with investments in renewable energy, suggests a balanced approach to growth and sustainability.

Shareholders and market watchers may view these developments favorably, potentially leading to increased confidence in the company's future prospects. The appointment of an experienced CFO may also be seen as a move to strengthen financial management and drive further growth.

As the market digests this information, it may influence Epigral Limited's stock price and overall market position. Stakeholders are advised to monitor any further announcements or guidance from the company regarding its future strategies and initiatives.