Epigral Limited — PPTs, 02-08-2025: Investor Presentation

**Financial Highlights:**

Revenue dipped 6% YoY to ₹615 Cr. EBITDA slipped 7% to ₹163 Cr, yet a strong 27% margin held. Reported PAT was ₹160 Cr (₹79 Cr sans one-time deferred tax benefit). Balance sheet looks stronger: ROCE improved to 24%, and Net Debt/EBITDA tightened to 0.6x from 1.6x YoY. Plant utilization stood at 73%.

**Strategic Initiatives & Growth Drivers:**

Key capex for CPVC (75KTPA add-on, targeting 150KTPA, world's largest) and Epichlorohydrin (50KTPA add-on, targeting 100KTPA, India's largest) are on track for H1FY27 commissioning (~₹780 Cr). A new import-substitution chemistry project is also planned. Management anticipates a stronger H2FY26.

**Business Developments:**

The Chlorotoluenes Value Chain was commissioned in March 2025. The Derivatives & Specialty segment now contributes 50% of revenue, a clear strategic pivot towards higher-value products.

**Market Position & Competitive Advantage:**

The company maintained robust 27% EBITDA margins despite lower volumes and realizations, thanks to sustained focus on efficiency and product mix. Expansions in CPVC and Epichlorohydrin bolster integration and strengthen leadership in vital import substitution markets.

**Investor Implications:**

Resilient margins and a stronger balance sheet point to operational robustness. Significant capex in high-growth specialty segments positions the company for positive growth potential. This strategic pivot to value-added products is a key driver for future performance.