EPL
EPL
Industrial ProductsKey Fundamentals
MicrocapPackagingIndustrial ProductsTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 43.9%
Weaknesses
3- The company has delivered a poor sales growth of 9.03% over past five years.
- Promoter holding is low: 26.4%
- Promoter holding has decreased over last 3 years: -25.2%
Growth Rate
AI Analysis — Bull vs Bear
EPL Ltd is a specialty packaging company with a market cap of ₹7,473 Cr, trading at a PE of 18.8x with consistent ROE of 14-16% over the past decade. Sales have compounded at 9% over 5 years while profit growth has accelerated to 22% CAGR over 3 years, though promoter holding has declined significantly by 25.2% over the last 3 years to 26.4%.
- Profit growth has accelerated sharply with 3-year compounded profit CAGR of 22%, significantly outpacing the 10-year average of 9%
- TTM sales growth of 13% shows revenue momentum improving above the 5-year CAGR of 9%
- Consistent ROE track record with last year at 16% and 10-year average of 14%, indicating stable capital efficiency
- Healthy dividend payout ratio of 43.9% demonstrates commitment to shareholder returns with a current yield of 1.08%
- TTM profit growth of 14% continues to outpace sales growth of 13%, suggesting margin expansion
- PE of 18.8x is reasonable relative to the 22% three-year profit CAGR, implying a PEG ratio below 1
- 10-year stock CAGR of 8% shows the company has delivered long-term wealth creation despite recent underperformance
- Price-to-book of 2.59x combined with 16% ROE suggests the company earns adequately above cost of equity
- Promoter holding has decreased by 25.2% over the last 3 years, raising concerns about promoter commitment and potential overhang
- Current promoter holding at just 26.4% is unusually low, reducing promoter alignment with minority shareholders
- 5-year sales CAGR of only 9.03% reflects poor top-line growth for an industrial products company
- Stock has delivered negative 5-year CAGR of -1% and only 1% over 3 years, showing prolonged underperformance
- 1-year stock return of just 3% despite 13% TTM sales growth and 14% profit growth suggests market skepticism about sustainability
- 10-year sales CAGR of 8% indicates the company operates in a structurally slow-growth segment
- 5-year compounded profit CAGR of 10% is only marginally above sales growth of 9%, suggesting limited structural margin improvement over longer periods
- 52-week high and low data unavailable makes it difficult to assess current valuation relative to recent trading range
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Investment in Thailand subsidiary Jul 3
EPL invested 4,95,00,000 Thai Baht in EPL Packaging (Thailand) Co. Ltd on July 3, 2026, subscribing to 4,85,100 shares to strengthen its overseas operations.
- Routine CP issuances at ~7.3% Jul 29
EPL issued two tranches of ₹60 Cr Commercial Papers on Jul 27 (7.37% p.a., maturing Nov 23) and Jul 29 (7.22% p.a., maturing Oct 27), indicating ongoing short-term funding activity.
- CP redemption on maturity Jul 21
EPL fully redeemed ₹60 Cr commercial papers on July 21, 2026, originally issued on April 22, with record date fixed as July 20.
- No new share encumbrance in FY26 Jul 8
Promoter entity Epsilon Bidco Pte. Ltd. confirmed no additional encumbrance was created on EPL shares during FY26 under SEBI Takeover Regulations.
TL;DR: EPL's recent newsflow is dominated by routine treasury operations — rolling commercial papers at competitive rates around 7.2-7.4% and timely redemptions, signalling stable short-term liquidity management. The small investment in its Thai subsidiary suggests continued commitment to international expansion. No material risks or red flags emerged in this period; the outlook remains steady with no visible deterioration or acceleration in fundamentals.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 910 | 1,002 | 975 | 1,029 | 1,007 | 1,086 | 1,014 | 1,105 | 1,108 | 1,206 | 1,149 | 1,300 | 1,388 |
| Expenses | 751 | 821 | 792 | 838 | 822 | 868 | 813 | 877 | 881 | 954 | 919 | 1,044 | 1,127 |
| Operating Profit | 159 | 181 | 183 | 191 | 186 | 219 | 202 | 228 | 227 | 252 | 230 | 256 | 261 |
| OPM % | 17% | 18% | 19% | 19% | 18% | 20% | 20% | 21% | 20% | 21% | 20% | 20% | 19% |
| Other Income | 11 | 11 | 24 | -44 | 6 | 14 | 13 | 11 | 8 | 12 | 2 | -7 | 6 |
| Interest | 24 | 31 | 29 | 32 | 29 | 29 | 27 | 28 | 28 | 28 | 29 | 29 | 29 |
| Depreciation | 80 | 84 | 84 | 85 | 84 | 85 | 86 | 88 | 90 | 94 | 97 | 104 | 109 |
| PBT | 66 | 78 | 94 | 30 | 80 | 118 | 100 | 123 | 117 | 141 | 107 | 116 | 129 |
| Tax % | 16% | 33% | 7% | 50% | 17% | 25% | 6% | 6% | 14% | 25% | 22% | 11% | 22% |
| Net Profit | 56 | 52 | 87 | 15 | 66 | 88 | 94 | 116 | 101 | 106 | 83 | 103 | 101 |
| EPS in Rs | 1.71 | 1.59 | 2.71 | 0.7 | 2.02 | 2.73 | 2.93 | 3.58 | 3.13 | 3.26 | 2.55 | 3.21 | 3.08 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,321 | 2,128 | 2,302 | 2,424 | 2,707 | 2,761 | 3,092 | 3,433 | 3,694 | 3,916 | 4,213 | 4,763 | 5,043 |
| Expenses | 1,929 | 1,723 | 1,880 | 1,960 | 2,208 | 2,204 | 2,481 | 2,864 | 3,119 | 3,201 | 3,376 | 3,798 | 4,044 |
| Operating Profit | 392 | 404 | 422 | 464 | 499 | 558 | 611 | 569 | 575 | 715 | 837 | 965 | 999 |
| OPM % | 17% | 19% | 18% | 19% | 18% | 20% | 20% | 17% | 16% | 18% | 20% | 20% | 20% |
| Other Income | 26 | 30 | 52 | 21 | 37 | 3 | -2 | 11 | 41 | 2 | 41 | 15 | 14 |
| Interest | 79 | 61 | 58 | 55 | 61 | 56 | 43 | 40 | 67 | 116 | 114 | 115 | 116 |
| Depreciation | 132 | 123 | 141 | 167 | 186 | 230 | 235 | 251 | 280 | 333 | 343 | 385 | 405 |
| PBT | 206 | 251 | 274 | 263 | 289 | 275 | 331 | 289 | 268 | 268 | 422 | 481 | 492 |
| Tax % | 30% | 31% | 29% | 34% | 32% | 23% | 26% | 23% | 14% | 22% | 14% | 18% | — |
| Net Profit | 145 | 173 | 196 | 174 | 195 | 212 | 244 | 221 | 231 | 210 | 364 | 394 | 393 |
| EPS in Rs | 4.48 | 5.41 | 6.06 | 5.46 | 6.11 | 6.57 | 7.58 | 6.79 | 7.12 | 6.7 | 11.23 | 12.14 | 12.1 |
| Div. Payout % | 18% | 20% | 20% | 22% | 20% | 50% | 54% | 63% | 60% | 66% | 44% | 21% | — |
Balance Sheet
| Particulars | Mar 2015 | 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 | 31 | 63 | 63 | 63 | 63 | 64 | 64 | 64 | 64 |
| Reserves | 752 | 933 | 1,008 | 1,219 | 1,325 | 1,470 | 1,635 | 1,761 | 1,926 | 2,028 | 2,291 | 2,794 |
| Borrowings | 962 | 709 | 798 | 734 | 632 | 737 | 642 | 769 | 890 | 912 | 802 | 962 |
| Other Liabilities | 365 | 334 | 412 | 452 | 492 | 526 | 654 | 670 | 723 | 767 | 795 | 1,015 |
| Total Liabilities | 2,110 | 2,008 | 2,250 | 2,437 | 2,513 | 2,796 | 2,994 | 3,264 | 3,601 | 3,771 | 3,952 | 4,836 |
| Fixed Assets | 887 | 924 | 1,179 | 1,184 | 1,307 | 1,364 | 1,531 | 1,473 | 1,694 | 1,912 | 1,970 | 2,397 |
| CWIP | 89 | 57 | 19 | 42 | 41 | 35 | 27 | 147 | 178 | 72 | 73 | 153 |
| Investments | 46 | 30 | 15 | 13 | 17 | 16 | 15 | 7 | 19 | 8 | 39 | 24 |
| Other Assets | 1,088 | 996 | 1,036 | 1,198 | 1,147 | 1,381 | 1,421 | 1,636 | 1,711 | 1,780 | 1,870 | 2,261 |
| Total Assets | 2,110 | 2,008 | 2,250 | 2,437 | 2,513 | 2,796 | 2,994 | 3,264 | 3,601 | 3,771 | 3,952 | 4,836 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 313 | 361 | 369 | 343 | 356 | 471 | 522 | 312 | 602 | 586 | 795 | 723 |
| Investing | -145 | -46 | -279 | -156 | -188 | -108 | -278 | -266 | -412 | -361 | -374 | -442 |
| Financing | -168 | -320 | -76 | -154 | -194 | -142 | -319 | -95 | -138 | -263 | -431 | -274 |
| Net Cash Flow | 0 | -5 | 13 | 34 | -25 | 221 | -75 | -50 | 52 | -37 | -10 | 6 |
| Free Cash Flow | 114 | 165 | 162 | 206 | 56 | 364 | 350 | 45 | 219 | 215 | 439 | 250 |
| CFO/OP | 89 | 110 | 106 | 92 | 89 | 98 | 100 | 68 | 112 | 94 | 103 | 86 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 59 | 57 | 60 | 69 | 67 | 65 | 70 | 68 | 64 | 65 | 61 | 67 |
| Inventory Days | 74 | 79 | 89 | 101 | 101 | 116 | 117 | 143 | 133 | 144 | 151 | 177 |
| Days Payable | 52 | 51 | 53 | 66 | 65 | 112 | 119 | 109 | 109 | 125 | 125 | 147 |
| Cash Conversion Cycle | 82 | 85 | 95 | 104 | 103 | 70 | 67 | 102 | 87 | 85 | 87 | 97 |
| Working Capital Days | 41 | 68 | 50 | 44 | 51 | 23 | 39 | 47 | 40 | 33 | 31 | 42 |
| ROCE % | 16% | 18% | 17% | 17% | 17% | 16% | 17% | 13% | 12% | 15% | 17% | 18% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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64 extracted metrics + investor summaries across FY08–FY26.
Documents
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Company Information
EPL Limited (formerly known as Essel Propack Limited),is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the Beauty & Cosmetics, Pharma & Health, Food, Oral and Home. The company was acquired by the Blackstone group on Aug – 2019 from the Essel group of companies. The Blackstone Group is one of the leading investment firms in the world with an AUM of around USD 511 billion across sectors like private equity, real estate, hedge fund solutions and credit businesses. The Group also has an exposure in the packaging industry through acquisition of varied companies such as the USA based Graham Packaging, Owens-Illinois Inc, Ohio and China based packaging firm ShyaHsin. [1]
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