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Swing Capital

Epigral Ltd

NSE: EPIGRAL BSE: 543332

Epigral Limited, formerly known as Meghmani Finechem Ltd, incorporated in 2007, is a leading integrated manufacturer of chemicals.[1]

₹1,206
52W: ₹806 — ₹2114
PE 15.6 · Book ₹515 · +134% vs book
Market Cap₹5,201 Cr
Stock P/E15.6Price to Earnings
ROCE15.6%Return on Capital
ROE16.2%Return on Equity
Div. Yield0.42%Face Value ₹10

Strengths

  • +Company's median sales growth is 25.5% of last 10 years

Weaknesses

  • −Tax rate seems low
  • −Debtor days have increased from 42.4 to 60.2 days.

Shareholding Pattern

Promoters68.83%
FIIs1.54%
DIIs4.9%
Public24.71%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.58%71.58%68.94%▼2.668.95%▲0.068.83%▼0.168.83%68.83%68.83%
FIIs1.46%2.1%▲0.63.01%▲0.93.01%3.06%▲0.12.71%▼0.42.36%▼0.41.54%▼0.8
DIIs0.18%1.17%▲1.04.31%▲3.14.66%▲0.44.78%▲0.14.93%▲0.15.13%▲0.24.9%▼0.2
Public26.75%25.12%▼1.623.71%▼1.423.34%▼0.423.3%▼0.023.52%▲0.223.67%▲0.224.71%▲1.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales472525651626645628607587597736
Expenses349369475448463454443455494568
Operating Profit123155176178183173163132103169
OPM %26%30%27%28%28%28%27%23%17%23%
Net Profit4977868110487160523982
EPS ₹11.8718.4520.719.382420.0837.1811.949.0718.99

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,527Cr, down 0.9% YoY. OPM at 22%.

Debt Position

Borrowings at ₹572Cr. Debt-to-equity ratio: 0.26x. Healthy balance sheet.

Capex Cycle

CWIP at ₹451Cr (21% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 4.9% (+4.86pp change). FIIs: 1.54% (+0.38pp change). Promoters hold 68.83%.

Margin & Efficiency

ROCE improving from 0% (Mar 2016) to 16% (Mar 2026). Working capital days: 16.

Valuation

PE 15.6x with 15.6% ROCE. Price is 134% above book value of ₹515. Dividend yield: 0.42%.

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