Epl Limited

EPL is led by an experienced professional management team headed by Hemant Bakshi, Managing Director and Global CEO, with over 30 years of experience in the fast-moving consumer goods (FMCG) sector and international consumer markets. Upon completion of the proposed merger with Indovida, subject to requisite approvals, Indorama Ventures is expected to hold 51.8% of EPL. The combined entity will benefit from Indorama Ventures’ experience in rigid polyethylene terephthalate (PET) packaging

EPL follows a vertically integrated manufacturing model spanning laminate sheet production, tube conversion, printing, decoration, and capping. Laminate sheets manufactured primarily in India and China are supplied to its conversion facilities to produce customer-specific tubes, while increasing in-house production of caps and closures provides greater control over quality, customisation, costs, and supply continuity. The company’s 21 manufacturing facilities across 11 countries provide proximit

EPL reported healthy operating performance in FY26, with total operating income (TOI) increasing by 13.0% to ₹4,763.10 crore (PY: ₹4,213.30 crore). PBILDT margin improved to 20.27% (PY: 19.86%), supported by broad-based regional growth, operating efficiencies, and an improved product mix, particularly the increasing contribution from Beauty and Cosmetics. Personal Care and Beyond accounted for 53% of tube revenue in FY26 (PY: 48%), while Oral Care contributed 47%.

EPL maintained a comfortable financial risk profile in FY26, supported by a strong net worth base, moderate gearing, and healthy debt coverage. Total debt increased to ₹976.80 crore (PY: ₹813.30 crore) and net debt to ₹769.10 crore (PY: ₹597.00 crore), mainly due to higher lease liabilities, growth-oriented capital expenditure, and incremental working capital requirements. Despite the increase, overall gearing remained comfortable at 0.36x (PY: 0.37x), total debt/PBILDT remained close to unity a

EPL benefits from long-standing relationships with leading multinational and Indian consumer product and healthcare companies, including Procter and Gamble, Colgate-Palmolive, Unilever, Johnson and Johnson, Dabur India, and Zydus Lifesciences. The strong 2 CARE Ratings Ltd. Press Release credit profiles of key customers provide counterparty comfort, while EPL’s global presence and ability to offer customised tubes, laminates, caps, closures, and dispensing solutions support repeat business and p

EPL’s liquidity remains strong, supported by cash and liquid investments of ₹207.70 crore on March 31, 2026 (PY: ₹216.30 crore). The company has scheduled term debt repayments aggregating ~₹65.02 crore over the four quarters ending Q1FY28, which remain comfortably covered by its cash balance and expected accruals. Liquidity is further supported by moderate average utilisation of fund-based facilities at 39% in the 12 months ended June 2026. Although planned capital expenditure and higher

Polymer granules, particularly linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE), are key inputs for EPL and expose its margins and working capital to crude-linked price volatility. A sharp increase in polymer prices following supply disruptions amid the Middle East crisis contributed to moderation in PBILDT margin to 19.03% in Q1FY27. The risk is mitigated by established pricing arrangements covering ~50%-60% of the business, which allow polymer, freight, and power co

EPL operates in a fragmented and competitive tube-packaging market comprising global packaging groups, such as Amcor plc, Albéa Group, Hoffmann Neopac, and CTLpack, and specialised regional manufacturers and unorganised participants. Competitive pressure is more pronounced in standardised, high-volume formats, where limited product differentiation can restrict pricing flexibility. In Beauty and Cosmetics and pharmaceutical packaging, competition is increasingly based on innovation, speed of