Epl Limited (EPL) · mywealthgrid

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About

Epl Limited manufactures and sells packaging products in India's industrial sector, serving diverse end-markets through consolidated operations (averaging ₹1,200–1,400 Cr quarterly revenue) and multiple subsidiaries. The company maintains operating margins in the 18–21% range and is currently valued at a PE of 20.22 on a market cap of ₹7,834.54 Cr.

Face value: ₹2

Market cap

₹7,443 Cr

P/E

19.2×

P/B

2.6×

Dividend yield

3.2%

ROE

14.9%

ROCE

19.5%

Debt / equity

0.25

OPM

20.3%

EPS (TTM)

₹12.1

Book value

₹89.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression: consolidated OPM has declined from 20.86% (Sep 2025) to 18.82% (Jun 2026), a 204 basis point drop over nine months — verify whether this reflects temporary input-cost pressures, demand-mix shifts, or structural competitive headwinds.
Reduced foreign investor interest: FII shareholding fell from 17.23% (Mar 2026) to 14.08% (Jun 2026) in three months — confirm the reason and assess whether this signals operational or valuation concerns.
Competitive pricing pressure: packaging is highly fragmented with both organized and unorganized players — verify the company's competitive position, customer concentration, and ability to maintain pricing.
Valuation context: PE of 20.22 — compare to direct packaging-sector peers to assess whether valuation is priced for growth or offers margin of safety.

Generated analysis · source review pending

Growth drivers

Debt-to-equity of 0.25 provides balance-sheet capacity to fund capex, working capital, or M&A — verify management's capital allocation priorities and growth plans.
Consolidated revenue (₹1,200–1,400 Cr per quarter) is 3–4x standalone (₹346–400 Cr), indicating profitable non-consolidated operations — assess potential for integration gains, consolidation, or operational optimization.
Operating margins remain in the 18–21% band despite quarterly revenue fluctuations, suggesting operational discipline — if margin floor holds at 18–19%, revenue growth can drive earnings growth.
Regular dividend payouts indicate cash generation and sound working-capital management — verify capex intensity and retention strategy for organic or inorganic growth.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹232.4-0.3%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 20.3%
+Dividend yield of 3.2%
+Dividend payout of 62% of profit

Cons

−Modest revenue growth of 9% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

60/100

Business quality: 52
Growth: 53
Valuation: 75

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,388	2,446	2,707	2,760	3,092	3,433	3,694	3,916	4,213	4,763
COGS	1,008	1,037	1,165	1,157	1,293	1,518	1,674	1,657	1,736	1,914
Gross profit	1,380	1,410	1,542	1,603	1,798	1,915	2,020	2,259	2,478	2,849
	958	945	1,043	1,046	1,188	1,347	1,445	1,541	1,640	1,884
	422	465	499	557	610	569	575	718	838	965
OPM %	17.7%	19%	18.4%	20.2%	19.7%	16.6%	15.6%	18.3%	19.9%	20.3%
Depreciation	141	167	186	230	235	251	281	333	343	385
Interest	58	55	61	56	43	40	67	116	114	115
	5	18	34	4	-2	12	41	-1	40	15
Profit before tax	274	263	289	275	331	289	268	268	422	481
Tax	79	89	93	64	87	68	37	58	58	87
Tax %	28.7%	33.8%	32.3%	23.2%	26.2%	23.4%	13.9%	21.7%	13.7%	18%
	196	174	195	212	244	221	231	210	364	394
PAT margin %	8.2%	7.1%	7.2%	7.7%	7.9%	6.5%	6.3%	5.4%	8.6%	8.3%
EPS (₹)	—	—	12.2	6.6	7.6	6.8	7.2	6.7	11.3	12.2
EPS adjusted (₹)	6.2	5.5	6.1	6.6	7.6	6.8	7.1	6.7	11.2	12.1
	—	—	10.2%	50.2%	54.1%	63.3%	60.1%	66.4%	44.4%	—
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	31	31	31	63	63	63	63	64	64	64	64
Reserves	729	1,008	1,219	1,325	1,470	1,635	1,761	1,926	2,028	2,291	2,794
Minority interest	8	6	4	5	9	33	34	4	—	4	9
	768	692	594	582	525	554	657	769	804	673	709
	523	522	605	545	740	726	777	869	913	974	1,324
Total equity & liabilities	2,060	2,259	2,455	2,520	2,806	3,011	3,293	3,630	3,809	4,006	4,900
	869	1,179	1,184	1,307	1,257	1,531	1,473	1,694	1,912	1,970	2,397
CWIP	84	11	32	31	31	23	145	175	68	69	148
Investments	26	15	13	17	16	15	7	19	8	39	24
	1,080	1,053	1,225	1,165	1,502	1,443	1,667	1,742	1,821	1,927	2,330
Total assets	2,060	2,259	2,455	2,520	2,806	3,011	3,293	3,630	3,809	4,006	4,900

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
AMESA	1,544.1	165.6	1,502.7	412.2	1,090.5	15.19
AMERICAS	1,344.9	169.8

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	57%	58.1%	58.2%	55.8%	54.7%	57.7%	58.8%	59.8%
EBITDA margin %	18.4%	20.2%	19.8%	16.8%	15.6%	18.2%	19.8%	20.3%
EBIT margin %	11.6%	11.9%	12.2%	9.5%	8%	9.7%	11.7%	12.2%
PAT margin %	7.2%	7.7%	7.9%	6.5%	6.3%	5.4%	8.6%	8.3%
Working capital
Receivable days	67	65	70	68	64	65	61	67
Inventory days	101	116	117	143	133	144	151	177
Payable days	—	112	119	109	109	125	125	147
NWC days	—	70	67	101	87	85	87	97
Leverage
Current ratio	1.89	1.69	1.74	1.71	1.69	1.52	1.51	1.56
Debt to EBITDA	1.17	0.94	0.91	1.14	1.33	1.13	0.8	0.73
Debt to equity	0.42	0.34	0.33	0.36	0.39	0.38	0.29	0.25
Interest coverage	5.6	6.1	9.1	8.4	5	3.8	4.7	5.4
Asset turnover	1.07	0.98	1.03	1.04	1.02	1.03	1.05	0.97
Return ratios
Return on assets %	7.8%	7.5%	8.1%	6.7%	6.4%	5.5%	9.1%	8%
Return on capital employed %	18.4%	17.2%	18.4%	14.5%	13.4%	16.3%	19.2%	19.5%
Return on equity %	14.1%	13.8%	14.4%	12.1%	11.6%	10%	15.4%	13.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.52%	51.5%	51.5%	51.5%	51.47%	51.45%	51.31%	26.42%	26.4%	26.38%	26.38%	26.38%
	10.41%	9.89%	10.91%	11.35%	13.44%	14.94%	16.51%	17.24%	17.43%	17.57%	17.23%	14.08%
	15.54%	14.53%	13.36%	11.55%	11.2%	11.58%	10.98%	10.44%	9.96%	9.56%	10.2%	13.8%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	22.53%	24.08%	24.23%	25.6%	23.89%	22.03%	21.2%	45.9%	46.21%	46.49%	46.19%	45.74%
No. of shareholders	—	—	—	—	—	—	—	—	1,16,452	1,02,302	95,910	91,469

Promoter holding down 25.14 percentage points since Sep 2023.

13 deals · 3 Aug 2022 – 1 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
1 Sept 2026	IRAGE BROKING SERVICES LLP	Bulk	BSE	Sell	26,88,703	₹243.22	₹65.39 Cr
1 Sept 2026	IRAGE BROKING SERVICES LLP	Bulk	BSE	Buy	2,08,546	₹243.54	₹5.08 Cr
12 Sept 2024	ASHOK GOEL TRUST	Bulk	NSE	Sell	88,00,000	₹243.18	₹214.00 Cr
14 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	24,46,281	₹238.76	₹58.41 Cr
14 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	24,46,281	₹239.06	₹58.48 Cr
14 Aug 2024	QE SECURITIES LLP	Bulk	NSE	Sell	20,36,653	₹242.73	₹49.44 Cr
14 Aug 2024	QE SECURITIES LLP	Bulk	NSE	Buy	20,31,878	₹241.62	₹49.09 Cr
2 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	17,14,425	₹216.58	₹37.13 Cr
2 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	17,14,425	₹216.44	₹37.11 Cr
25 Jan 2024	SOCIETE GENERALE	Block	BSE	Buy	7,84,520	₹199.85	₹15.68 Cr

1–10 of 13

1 / 2

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Davinder Singh BrarNon-Executive - Independent Director-Chairperson
Ms. Sharmila Abhay KarveNon-Executive - Independent Director
M R RamasmyChief Operating Officer
Mr. Shashank SinhaNon-Executive - Independent Director
Mr. Anand KripaluNon-Executive - Non Independent Director
Mr. Amit DixitNon-Executive - Non Independent Director
Mr. Dhaval Jitendra BuchNon-Executive - Non Independent Director
Mr. Animesh AgrawalNon-Executive - Non Independent Director
Mr. Aloke LohiaNon-Executive - Non Independent Director
Mr. Deepak GoyalChief Financial Officer
Mr. Hemant BakshiExecutive Director-CEO-MD

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 5 fund houses

Held by these funds

0.84%

of the company's equity

All mutual funds

10.38%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

7 schemes · 5 fund houses

		Shares
MNC Fund	ICICI Prudential Mutual Fund	10.5 L	27.51	1.52%	0.328%	-0
Small Cap Fund	Bajaj Finserv Mutual Fund	5.56 L	14.57	0.55%	0.174%	+1 L
Multi Cap Fund	Bajaj Finserv Mutual Fund	3.96 L	10.37	0.64%	0.124%	+63,496
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	3.63 L	9.51	0.38%	0.113%	-7,948
Flexi Cap Fund	Old Bridge Mutual Fund	3.15 L	8.25	2.08%	0.098%	+90,000
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	2,485	0.07	0.02%	0.001%	+12
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	408	0.01	0.02%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

56 announcementsExport CSV

30 Sept 2026, 10:47 amInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	57%	58.1%	58.2%	55.8%	54.7%	57.7%	58.8%	59.8%
EBITDA margin %	18.4%	20.2%	19.8%	16.8%	15.6%	18.2%	19.8%	20.3%
EBIT margin %	11.6%	11.9%	12.2%	9.5%	8%	9.7%	11.7%	12.2%
PAT margin %	7.2%	7.7%	7.9%	6.5%	6.3%	5.4%	8.6%	8.3%
Working capital
Receivable days	67	65	70	68	64	65	61	67
Inventory days	101	116	117	143	133	144	151	177
Payable days	—	112	119	109	109	125	125	147
NWC days	—	70	67	101	87	85	87	97
Leverage
Current ratio	1.89	1.69	1.74	1.71	1.69	1.52	1.51	1.56
Debt to EBITDA	1.17	0.94	0.91	1.14	1.33	1.13	0.8	0.73
Debt to equity	0.42	0.34	0.33	0.36	0.39	0.38	0.29	0.25
Interest coverage	5.6	6.1	9.1	8.4	5	3.8	4.7	5.4
Asset turnover	1.07	0.98	1.03	1.04	1.02	1.03	1.05	0.97
Return ratios
Return on assets %	7.8%	7.5%	8.1%	6.7%	6.4%	5.5%	9.1%	8%
Return on capital employed %	18.4%	17.2%	18.4%	14.5%	13.4%	16.3%	19.2%	19.5%
Return on equity %	14.1%	13.8%	14.4%	12.1%	11.6%	10%	15.4%	13.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Epl LimitedEPLEPL	₹7,443 Cr	₹8,152 Cr	₹5,043 Cr	₹1,000 Cr	20.3%	₹388 Cr	8.3%	19.5%	14.9%	97
Agi Greenpac LimitedAGIAGI	₹5,116 Cr	₹5,355 Cr	₹2,763 Cr	₹628 Cr	22.3%	₹362 Cr	13.2%	18.6%	15.6%	188
Uflex LimitedUFLEXUFLEX	₹4,692 Cr	₹14,545 Cr	₹16,866 Cr	₹2,302 Cr	12.2%	₹682 Cr	2.1%	8.6%	4.1%	89
Tcpl Packaging LimitedTCPLPACKTCPLPACK	₹3,574 Cr	₹4,148 Cr	₹1,872 Cr	₹299 Cr	16.2%	₹115 Cr	5.4%	22.4%	14.4%	98
Polyplex Corporation LimitedPOLYPLEXPOLYPLEX	₹3,228 Cr	₹4,145 Cr	₹7,601 Cr	₹592 Cr	4.9%	₹155 Cr	0.6%	1.1%	1.1%	147
Jindal Poly Films LimitedJINDALPOLYJINDALPOLY	₹2,863 Cr	₹6,866 Cr	₹2,152 Cr	₹-613 Cr	-20.2%	₹-989 Cr	-36.6%	-2%	-29.6%	81
Xpro India LimitedXPROINDIAXPROINDIA	₹2,670 Cr	₹2,959 Cr	₹535 Cr	₹50 Cr	6.3%	₹33 Cr	3.9%	3.9%	2.8%	80
Knack Packaging LimitedKNACKKNACK	₹2,211 Cr	₹2,404 Cr	₹736 Cr	₹133 Cr	18.1%	₹74 Cr	10%	47.1%	41.5%	—
Mold-Tek Packaging LimitedMOLDTKPACMOLDTKPAC	₹2,187 Cr	₹2,231 Cr	₹631 Cr	₹121 Cr	19.1%	₹64 Cr	10.1%	24.3%	17.9%	148
Cosmo First LimitedCOSMOFIRSTCOSMOFIRST	₹2,166 Cr	₹3,752 Cr	₹4,004 Cr	₹428 Cr	10.5%	₹167 Cr	4.3%	11.6%	10.1%	10
Huhtamaki India LimitedHUHTAMAKIHUHTAMAKI	₹1,757 Cr	₹1,859 Cr	₹2,610 Cr	₹225 Cr	7.7%	₹136 Cr	4.8%	12.3%	9.5%	26
Arrow Greentech LimitedARROWGREENARROWGREEN	₹1,306 Cr	₹1,306 Cr	₹247 Cr	₹86 Cr	32.2%	₹64 Cr	23.6%	30.4%	22.4%	141

Date	Category	Subject	Filing
30 Sept 2026, 10:47 am	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	PDF
28 Sept 2026, 4:41 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
16 Sept 2026, 8:43 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
16 Sept 2026, 8:37 pm	Company Update General	Regulation 44 - Voting Results For The 43Rd AGM Of The Company	PDF
16 Sept 2026, 8:29 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
16 Sept 2026, 8:21 pm	Company Update General	Newspaper Publication - Notice To Equity Shareholders Of The Company In Terms Of Section 124(6) Of The Companies Act, 2013 Read With Rules Made Thereunder	PDF
11 Sept 2026, 12:34 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
3 Sept 2026, 2:40 pm	Insider Trading / SAST Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	361	369	344	356	471	522	312	602	587	795	723
	-46	-301	-156	-188	-119	-281	-264	-389	-344	-376	-452
	-320	-76	-154	-194	-142	-319	-95	-138	-263	-431	-274
Net cash flow	-5	-9	34	-25	210	-77	-48	74	-21	-12	-3
Free cash flow	162	—	—	52	471	346	36	215	212	432	241
CFO / Operating profit %	—	87.4%	74%	71.4%	84.5%	85.5%	54.1%	104.2%	82.1%	95.1%	74.9%

Epl Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

25

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

AMERICAS · revenue

Epl Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends25

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

AMERICAS · revenue

25

1

1