Epigral Ltd, a leading player in the specialty chemicals sector, is targeting a 20% annual growth rate and expects its revenue to more than double by FY2028, according to a statement from the company’s Chairman and Managing Director, Maulik Patel. The company plans to achieve this ambitious growth through sustained demand for derivative and specialty products, alongside an expansion of its production capacity.
Epigral’s consolidated revenue for the financial year 2023-24 was reported at Rs 1,936 crore. For the first nine months of 2024-25, the company recorded a 37% increase in consolidated revenue, reaching Rs 1,934.31 crore, up from Rs 1,409.55 crore during the same period last year. The derivatives and specialty business contributed 54% to the company’s total revenue.
According to a report from Sunidhi, Epigral is expected to surpass Rs 3,500 crore in revenue by FY27. Meanwhile, Emkay predicts the company will reach Rs 3,800 crore in revenue with an EBITDA margin of 26% by the same year. Epigral is in the process of doubling its Chlorinated Polyvinyl Chloride (CPVC) production capacity from 75,000 metric tons per annum (MTPA) to 1,50,000 MTPA, as well as increasing its Epichlorohydrin (ECH) capacity from 50,000 MTPA to 1,00,000 MTPA at its Dahej facility, with an investment of approximately Rs 780 crore.
This expansion will improve captive chlorine consumption and drive a greater share of revenue from derivatives and specialty products. CPVC, a key component in plumbing systems, is expected to see rising demand.
Patel further emphasized that the company’s growth will be fueled by diversified projects set to launch over the next 3 to 5 years, creating substantial value for stakeholders. He also noted that Epigral’s focus on low-cost operations, driven by backward and forward integration, and the addition of value-added products, would further support its growth strategy. Additionally, the company’s investment in a research and development center is expected to enhance its position in the specialty chemicals market.
For the third quarter of FY25, Epigral reported a significant increase in net profit, which more than doubled to Rs 103.63 crore, compared to Rs 49 crore in the same period last year. Revenue for the December quarter also rose to Rs 649 crore, up from Rs 474 crore in the previous year.
Epigral Limited, formerly known as Meghmani Finechem Limited, is a prominent Indian chemical manufacturer headquartered in Ahmedabad. Established in 2007, the company specializes in producing chlor-alkali and its derivatives, including caustic soda, caustic potash, chlorine, hydrogen, chloromethanes, and hydrogen peroxide. Epigral is notable for being the first in India to establish an epichlorohydrin plant and operates the country’s largest chlorinated polyvinyl chloride (CPVC) resin facility. Their products serve diverse industries such as pharmaceuticals, agrochemicals, textiles, refineries, paper and pulp, and construction. In August 2023, the company rebranded to Epigral Limited to reflect its evolving business focus.
