EPL (500135) Q4 25/26 earnings summary

Executive summary

• Announced a proposed merger with Indovida, creating a nearly $1 billion consumer packaging platform, expected to be margin and value accretive, pending regulatory approvals.

• Achieved highest quarterly revenue growth in five years, with Q4FY26 revenue up 17.6% and strong performance across all regions and segments, especially Beauty & Cosmetics.

• Beauty and cosmetics segment delivered record 30% year-on-year growth, now larger than Oral Care in most key markets.

• Sustainability and innovation remain core, with 38% of sales from sustainable tube formats and EcoVadis Platinum ESG rating achieved.

• Audited standalone and consolidated financial results for FY26 were approved, with auditors expressing an unmodified opinion.

Financial highlights

• Q4FY26 revenue: INR 13,005 million (+17.6% YoY); full year: INR 47,631 million (+13.0% YoY).

• Q4 EBITDA: INR 2,246 million (+17.2% YoY), margin at 20.2%; full year EBITDA: INR 9,724 million (+15.8% YoY), margin at 20.4%.

• Q4 PAT (excluding exceptional items): INR 1,191 million (+1.0% YoY); full year PAT: INR 4,171 million (+15.0% YoY).

• Consolidated net profit after tax for FY26 was ₹3,939 million, up from ₹3,638 million in FY25.

• Net debt to EBITDA improved to 0.52x; return on capital employed rose to 19%.

Outlook and guidance

• Guidance maintained for low double-digit revenue growth (11%-13%) over the long term, with aggressive expansion in B&C and Brazil, and Thailand greenfield plant.

• Aiming to increase ROCE from 18% to over 25% by FY29 through margin improvement and operational efficiencies.

• Confident in recovering all cost increases from the Middle East crisis, with no expected lag in pass-through to customers.

• EBITDA growth expected to outpace revenue growth; focus remains on scaling in high-growth markets and sustaining B&C momentum.

• The merger with Indovida India is expected to enhance business scale and synergies, subject to statutory and regulatory approvals.