EPL’s Q2 Revenue Rises 30 Percent to INR 15,674 Million

EPL Ltd, a global leader in packaging solutions, announced its financial results for the second quarter ended September 30, 2026 (Q2 FY27). Surpassing its strong performance in earlier quarters, the company delivered a standout performance with top-line growth accelerating to 30 percent to reach INR 15,674 million, despite ongoing global market volatility and geopolitical disruptions. This demonstrates the resilience of its business model, strong customer partnerships, and disciplined execution. Growth was broad-based, driven by exceptional performance in Beauty & Cosmetics which grew by 42.9 percent, while all regions delivered double-digit growth. On an underlying basis, excluding the pass-through impact of higher raw material prices, revenue growth stood at 20.3 percent.

EBITDA & Margins – EBITDA increased by 17.6 percent year-on-year to INR 2,960 million, representing EPL’s 16th consecutive quarter of double-digit EBITDA growth. Reported EBITDA margin was at 18.9 percent, while underlying EBITDA margin stood firm at 20.4 percent. The company was able to fully pass on cost increases through judicious pricing across all regions.

Profit After Tax (PAT) – PAT for the quarter stood at INR 1,101 million, representing a 5.6 percent year-on-year growth, balancing ongoing growth investments with operational profitability. Return on Capital Employed (ROCE) continued to be strong at 18.2 percent.

Hemant Bakshi, MD & Global CEO, EPL Ltd, said, “EPL has delivered another standout quarter, achieving 30 percent revenue growth, on an underlying basis revenue growth was 20 percent and margins were 20.4 percent. What makes this performance particularly meaningful is that our strategy is delivering in full across every geography and core category. Beauty & Cosmetics delivered exceptional growth of over 40 percent, while Oral Care continued its strong momentum with 20 percent growth. In the month of September, B&C category overtook Oral care to become our largest category, a significant milestone towards building a fully diversified, high growth portfolio. Despite continued cost pressures, we successfully recovered the full impact of cost increases through pricing actions, enabling us to sustain underlying EBITDA margins above 20 percent while continuing to invest in our growth priorities. Looking ahead, we remain confident in our momentum and confidently reaffirm our near-term guidance of high-teens revenue growth and 20 percent underlying EBITDA margins.”

Strategic & Operational Highlights

Geographic Diversification: All regions delivered strong double-digit revenue growth during the quarter. East Asia Pacific (EAP) grew 40.2 percent, Europe 30.4 percent, AMESA 28.0 percent (with India growing at a solid 30.5 percent), and the Americas 25.3 percent.

Category Transformation: Beauty & Cosmetics delivered exceptional performance growing 42.9 percent year-on-year, Oral Care maintained steady market leadership with growth of 19.2 percent. Personal Care & Beyond now accounts for 55 percent of the total portfolio.

Sustainability: Sustainable tube formats contributed 41 percent of total sales year-to-date. EPL remains EcoVadis Platinum certified (Top 1 percent globally out of 150,000+ companies assessed), reinforcing its vision to be the most sustainable packaging company in the world.

Recognition & Culture: EPL’s focus on innovation and quality was recognized at the IFCA Star Awards 2026 and Print Week 2026. EPL operations across seven countries (India, Poland, Egypt, Philippines, Colombia, China, Brazil) remain certified as a Great Place to Work® for FY25-26.

Strategic Corporate Merger: As part of its long-term vision to build a leading consumer packaging business in emerging markets, EPL’s proposed merger with Indovida—creating a US$ 1 billion revenue entity with a US$ 2 billion valuation—advanced significantly. Following approvals from the Competition Commission of India (CCI), stock exchanges (BSE/NSE observation letters dated Oct 19, 2026), and foreign anti-trust authorities across 10 jurisdictions, EPL officially filed its application with the Hon’ble NCLT Mumbai on October 23, 2026. EPL remains confident of completing the merger within the expected timelines.

Outlook

EPL continues to navigate the volatile global operating environment with operational discipline and focus. The company retains its near-term guidance of revenue growth in the high-teens for the next few quarters, while maintaining its underlying EBITDA margin target at 20 percent. EPL remains focused on strengthening its market leadership in Beauty & Cosmetics, accelerating growth in high-potential emerging markets, driving capital efficiency, and expanding beyond tubes into broader consumer packaging platforms.

For more information: www.eplglobal.com