Epigral Ltd Share Price – NSE  / BSE

Chemicals, Small Cap

In an exchange filing, the company said the assessment order pertains to Assessment Year 2022?23, corresponding to Financial Year 2021?22. The order was passed under Section 143(3) read with Section 144C(13) of the Income-tax Act, 1961, along with a notice of demand issued under Section 156 of the Act, including applicable interest.

Epigral stated that the assessment order was issued in the ordinary course of assessment proceedings and that it has adequate factual and legal grounds to substantiate its position. The company added that there is no financial impact on its financials, operations, or other business activities arising from the order.

The company further said it believes the demand is not maintainable and is in the process of filing a rectification application and an appeal against the order within the prescribed timelines.

The company received the demand notice on 31 December 2025, while the official announcement was made on 1 January 2026, after market hours.

Epigral, formerly known as Meghmani Finechem, is a leading integrated manufacturer of chemicals in India. Epigral?s Dahej facility is a backward and forward integrated and automated complex with a well-planned infrastructure. In India, Epigral is the first to set up an epichlorohydrin plant and the largest capacity plant of CPVC. Epigral is also a leading manufacturer of caustic soda, caustic potash, chloromethanes, hydrogen peroxide, chlorine and hydrogen.

The company reported 36% fall in consolidated net profit to Rs 51 crore on a 7% fall in total revenue to Rs 589 crore in Q2 FY26 as compared with Q2 FY25.

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Net profit of Epigral declined 37.00% to Rs 51.22 crore in the quarter ended September 2025 as against Rs 81.30 crore during the previous quarter ended September 2024. Sales declined 6.18% to Rs 587.36 crore in the quarter ended September 2025 as against Rs 626.06 crore during the previous quarter ended September 2024.

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EBITDA declined by 26% YoY to Rs 132 crore while EBITDA margin contracted by 600 basis points to 23% in the second quarter.

Profit before tax in Q2 FY26 stood at Rs 70 crore, down by 43% from Rs 122 crore in Q2 FY25.

Maulik Patel, chairman and managing director, Epigral, said: This quarter ended with lower revenue on account of low sales volume and drop in realization of few products.

Volume drop was majorly on account of extended monsoon which is off season for few products. Overall plant utilization stood at 75% for H1FY26 and we expect utilization to improve in H2FY26, as extended monsoon is over and maintenance work at plant is also completed, resulting in better H2 compared to H1.

Our project to expand capacity of CPVC, Epichlorohydrin and Wind Solar Hybrid power plants are moving as per schedule and expected to be commissioned within committed timelines.

These projects will drive growth from FY2027 onwards. We have further moved a step closer for the new projects. We will be announcing the same once it is freezed and approved by the board.?

Epigral, formerly known as Meghmani Finechem, is a leading integrated manufacturer of chemicals in India. Epigral?s Dahej facility is a backward and forward integrated and automated complex with a well-planned infrastructure. In India, Epigral is the first to set up an Epichlorohydrin plant and largest capacity plant of CPVC. Epigral is also a leading manufacturer of caustic soda, caustic potash, chloromethanes, hydrogen peroxide, chlorine and hydrogen.

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Epigral will hold a meeting of the Board of Directors of the Company on 10 November 2025.

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