EPL

EPL share price & financials

Price
₹229.57
Market cap
₹8.0k Cr
Sector
Capital Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 11 Aug 2026

EPL Ltd Q1 FY27

EBITDA Margin 18.8%

What went well

  • Revenue grew by 25.3% YoY, marking the 5th consecutive quarter of double-digit growth.
  • Underlying revenue growth was 20% YoY, excluding pass-through impact of higher raw material prices.
  • EBITDA increased by 15.2% YoY, with underlying EBITDA margins at 19.6%, marking the 15th consecutive quarter of double-digit EBITDA growth.

What to watch

  • PAT declined by 1.4% YoY, primarily due to lapping a very low base year effective tax rate.
  • Working capital increased by INR180 crores in Q1 FY27 (vs March), driven by higher inventory costs and safety stock.
Read the full call →

What EPL Ltd does

EPL Limited (formerly Essel Propack), founded in 1982 and headquartered in Mumbai, manufactures laminated and extruded plastic tubes, caps, closures and dispensing systems used to package toothpaste, cosmetics, foods, pharmaceuticals and home-care products. It runs 20 manufacturing facilities across 10 countries spanning four regions - AMESA (Africa, Middle East & South Asia), EAP (East Asia Pacific), Americas and Europe - with an annual output of over 9 billion tubes. The company earns by supplying these packaging tubes and components to global consumer brands such as Colgate, P&G and Unilever, who fill and sell them as part of their own end products.

Segments

  • AMESA
  • EAP
  • Americas
  • Europe
Manufacturing facilities
20
Countries of operation
10
Annual tube output
9+ billion tubes
Global oral-care tube share
~1 in every 3 toothpaste tubes used globally
Geographic regions
4 (AMESA, EAP, Americas, Europe)
Employees
5,712
Founded 1982Headquarters Mumbai, Maharashtra, IndiaEmployees 5,712 (FY2024-25) Company website

Guidance record · Q1 FY27

what the last two calls moved 14 tracked 2 delivered 2 missed 10 open
  • Revenue Growth delivered said Q4 FY25 Promised: We remain confident in our ability to deliver double-digit growth Q1 FY27: Delivered 25.3% YoY revenue growth, the 5th consecutive quarter of double-digit growth. Guidance was subsequently raised to 'high teens'.
  • EBITDA Growth missed said Q4 FY25 Promised: delivering EBITDA growth ahead of revenue growth Q1 FY27: EBITDA grew 15.2% YoY, while revenue grew 25.3% YoY, missing the target.
  • Europe EBITDA Margin delayed said Q2 FY26 Promised: our objective is to deliver mid-teens upwards... We need to quickly recover from here Q1 FY27: Acknowledged ongoing operational challenges and margin contraction in Europe. Reiterated the 'mid-teens' target for 'coming quarters'.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 25.3%, net profit up 0.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,086 1,014 1,105 1,108 1,206 +11%1,149 +13%1,300 +18%1,388 +25%
EBITDA219 202 228 227 252 +15%230 +14%256 +12%261 +15%
Net profit88 94 116 101 106 +20%83 −12%103 −11%101 +0%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +4.1% 1Y

₹180₹200₹220₹240₹260Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q1 FY26 — 13 Oct 2025Q2 FY26 — 12 Nov 2025Q3 FY26 — 13 Feb 2026Q4 FY26 — 30 Mar 2026Q1 FY27 — 11 Aug 2026

1Y: ₹229.96 on 10 Sept 2025 → ₹239.3. High ₹270.1 (20 Aug 2026), low ₹180.12 (16 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+3.0%
11 Aug
Q4 FY26
+3.4%
30 Mar
Q3 FY26
−1.4%
13 Feb
Q2 FY26
+3.9%
12 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 8.8% a year over 3 years, FY23 to FY26. Operating margin widened to 20.3%.

Year endingFY23FY24FY25FY26
Revenue₹3.7k Cr₹3.9k Cr₹4.2k Cr₹4.8k Cr
Operating profit₹574 Cr₹714 Cr₹835 Cr₹965 Cr
Operating margin15.5%18.2%19.8%20.3%
Interest₹68 Cr₹116 Cr₹113 Cr₹114 Cr
Depreciation₹280 Cr₹333 Cr₹343 Cr₹385 Cr
Net profit₹231 Cr₹210 Cr₹364 Cr₹393 Cr
Net margin6.3%5.4%8.6%8.3%
ROCE12.0%15.0%17.0%18.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY20FY21FY22FY23FY24FY25
Equity capital₹63 Cr₹63 Cr₹63 Cr₹64 Cr₹64 Cr₹64 Cr
Reserves₹1.5k Cr₹1.6k Cr₹1.8k Cr₹1.9k Cr₹2.0k Cr₹2.6k Cr
Borrowings₹737 Cr₹642 Cr₹769 Cr₹890 Cr₹912 Cr₹850 Cr
Other liabilities₹526 Cr₹654 Cr₹670 Cr₹723 Cr₹767 Cr₹986 Cr
Total liabilities₹2.8k Cr₹3.0k Cr₹3.3k Cr₹3.6k Cr₹3.8k Cr₹4.5k Cr
Fixed assets₹1.4k Cr₹1.5k Cr₹1.5k Cr₹1.7k Cr₹1.9k Cr₹2.2k Cr
Capital work in progress₹35 Cr₹27 Cr₹147 Cr₹178 Cr₹72 Cr₹86 Cr
Investments₹16 Cr₹15 Cr₹7 Cr₹19 Cr₹8 Cr₹23 Cr
Other assets₹1.4k Cr₹1.4k Cr₹1.6k Cr₹1.7k Cr₹1.8k Cr₹2.2k Cr
Total assets₹2.8k Cr₹3.0k Cr₹3.3k Cr₹3.6k Cr₹3.8k Cr₹4.5k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +3.36 pp while FIIs trimmed −3.16 pp. The shareholder count shrank 18% to 91,469.

Promoters
26.4%
FIIs
14.1%
DIIs
13.8%
Public
45.8%

Since Jun 2025

  • DIIs +3.36 pp
  • FIIs −3.16 pp
  • Public −0.15 pp

How it drifted, 12 quarters

Over this window promoters fell from 51.5% to 26.4% — −25.1 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 51.5%, FIIs 10.4%, DIIs 15.5%, Public 22.5%.Dec '23: Promoters 51.5%, FIIs 9.9%, DIIs 14.5%, Public 24.1%.Mar '24: Promoters 51.5%, FIIs 10.9%, DIIs 13.3%, Public 24.2%.Jun '24: Promoters 51.5%, FIIs 11.3%, DIIs 11.6%, Public 25.6%.Sep '24: Promoters 51.5%, FIIs 13.4%, DIIs 11.2%, Public 23.9%.Dec '24: Promoters 51.5%, FIIs 14.9%, DIIs 11.6%, Public 22.0%.Mar '25: Promoters 51.3%, FIIs 16.5%, DIIs 11.0%, Public 21.2%.Jun '25: Promoters 26.4%, FIIs 17.2%, DIIs 10.4%, Public 45.9%.Sep '25: Promoters 26.4%, FIIs 17.4%, DIIs 10.0%, Public 46.2%.Dec '25: Promoters 26.4%, FIIs 17.6%, DIIs 9.6%, Public 46.5%.Mar '26: Promoters 26.4%, FIIs 17.2%, DIIs 10.2%, Public 46.2%.Jun '26: Promoters 26.4%, FIIs 14.1%, DIIs 13.8%, Public 45.8%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of EPL Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Epsilon Bidco Pte.Ltd. 26.38%unchanged
Indorama Netherlands B V 24.82%unchanged
Ashok Kumar Goel 4.80%unchanged
Bandhan Small Cap Fund And Its Affiliates Mutual fund3.33%newly disclosed
Quant Mutual Fund - Quant Small Cap Fund Mutual fund2.47%unchanged
Canara Robeco Mutual Fund A/C Canara Robeco Large And Mid Cap Fund Mutual fund1.95%unchanged
Mirae Asset Nifty Total Market Index Fund And Its Affiliates Mutual fund1.78%unchanged
State Of Wisconsin Investment Board - Alliance Bernstein L.P. Sovereign1.27%unchanged
ICICI Lombard General Insurance Company Ltd Insurer1.09%−0.13 pp
Fidelity Funds - Asian Smaller Companies Pool Global fund house—off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹239, this stock must grow earnings at 12% every year for 7 years. Our analysis caps realistic growth at ~23%. At that growth it is worth ₹425 — upside of 78%.

Growth the price implies
11.8% a year
for 7 years, fading to 4%
It has actually compounded at
22.8% a year
net profit, FY23–FY26 · EPS 22.9%
The gap
-0.1 pp
78% downside if it only repeats history
Price today ₹239.3 Value at the reference growth ₹425.18

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse EPL Ltd

Guides on how to read this kind of business and the numbers that matter.