How did margins perform sequentially?

EBITDA margin improved sequentially, indicating better operating leverage and cost management. The analyst rationale notes recovery in both volumes and margins.

What is Epigral Advanced Material Limited for?

It is a wholly owned subsidiary incorporated on July 7 to manufacture chemicals. As of now, it's an early administrative step with no disclosed financial commitment or specific product details.

How does this quarter compare to market expectations?

The filing does not provide market expectations. However, 16% revenue growth and 24% adjusted PAT growth are positive signals amid a chemicals sector recovery.

Earnings · Chemicals · Small cap

Epigral Q1: Revenue up 16%, adjusted PAT jumps 24%

Excluding a one-time deferred tax credit in the base quarter, profit rose on volume recovery and sequential margin improvement. The company also incorporated a subsidiary for chemical manufacturing.

— 3 earlier stories on Epigral Ltd. →

EPIGRAL By Tipsheet Editorial 27 Jul 2026 · 1:59 PM IST Verify on BSE · NSE

Mkt cap₹4,772 cr

P/E14.38×

ROE14.94%

Debt / eq.0.25

Div yld0.44%

24% Adjusted PAT growth YoY (excl. ₹80.67 cr one-time tax credit)

What's new

Revenue of ₹705.36 cr, up 16% YoY from ₹606.54 cr.
Reported PAT fell to ₹99.18 cr from ₹160.41 cr due to one-time tax credit in base quarter; adjusted PAT rose ~24%.
Incorporated wholly owned subsidiary Epigral Advanced Material Limited on July 7 for chemical manufacturing.

Why this matters

The adjusted profit growth and sequential margin improvement suggest Epigral's underlying business is recovering on volumes and pricing. The new subsidiary signals expansion into advanced materials, though financial details are not yet disclosed.

What we're watching

Sustenance of volume and margin recovery in coming quarters.
Any capital allocation plan for the new subsidiary.
Q2 commentary on demand trends in key chemical segments.

The full read

Epigral's June quarter revenue hit ₹705.36 crore, up 16% from ₹606.54 crore a year ago. Reported profit fell to ₹99.18 crore from ₹160.41 crore, but the base quarter had a one-time deferred tax credit of ₹80.67 crore. Excluding that, adjusted PAT rose roughly 24%. More important, EBITDA margins improved sequentially, a sign that volume recovery and cost control are gaining traction. The incorporation of a new subsidiary for chemical manufacturing is an early administrative step — no financial commitment yet. For a company with a trailing P/E of 14.4 and debt-to-equity of 0.25, even modest operational improvement buys credibility. The next test: whether this trajectory holds through Q2.

Questions answered

Why did reported PAT drop despite revenue growth?: The base quarter included a one-time deferred tax credit of ₹80.67 crore. Excluding that, adjusted PAT rose about 24% year-on-year.
How did margins perform sequentially?: EBITDA margin improved sequentially, indicating better operating leverage and cost management. The analyst rationale notes recovery in both volumes and margins.
What is Epigral Advanced Material Limited for?: It is a wholly owned subsidiary incorporated on July 7 to manufacture chemicals. As of now, it's an early administrative step with no disclosed financial commitment or specific product details.
How does this quarter compare to market expectations?: The filing does not provide market expectations. However, 16% revenue growth and 24% adjusted PAT growth are positive signals amid a chemicals sector recovery.

Mentioned: Epigral Advanced Material Limited · ₹80.67 cr deferred tax credit · ₹705 cr revenue

Primary source BSE · NSE

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

All notes on EPIGRAL →

27 Jul 2026 · 1:59 PM IST Epigral Q1: Revenue up 16%, adjusted PAT jumps 24%
today Epigral enters epoxy resins with two Dahej plants, capex undisclosed
today Epigral bets ₹600 cr on epoxy resins in strategic pivot
today Epigral logs 16% revenue growth in Q1; PAT falls on one-time credit base effect