EPL Posts 30% Revenue Growth in Q2 FY27

Revenue: Rs 1,567.4 crore (Up 30% YoY); PAT: Rs 110.1 crore (Up 5.6% YoY).

Reader Takeaway: Robust growth in Beauty & Cosmetics segment is offset by the delta between reported and underlying margins.

What just happened

EPL Limited announced a strong second quarter for FY27, with revenue growing 30% to Rs 1,567.4 crore. The company reported a 17.6% growth in EBITDA to Rs 296 crore. Profit After Tax (PAT) grew by a more modest 5.6% to Rs 110.1 crore. This marks the 16th consecutive quarter of double-digit EBITDA growth for the firm.

Why this matters

The most significant shift is in the product mix: the Beauty & Cosmetics segment grew by 42.9%, officially surpassing Oral Care as the company's largest category in September 2026. This diversification indicates successful execution of the company's strategic pivot toward high-growth beauty markets.

The backstory

The company has been working on a strategic merger with Indovida. Having previously secured approvals from the CCI and stock exchanges, EPL formally filed its merger application with the NCLT Mumbai on October 23, 2026, marking a critical step in the consolidation process.

What changes now

Management has reaffirmed its guidance for "high-teens" revenue growth in the coming quarters. They also expect to sustain an underlying EBITDA margin of 20%, supported by the pricing power demonstrated in the current quarter where cost increases were successfully passed on to customers.

Risks to watch

While underlying margins remain healthy at 20.4%, the reported EBITDA margin sits at 18.9%. Investors should track this variance to understand the underlying costs impacting the bottom line. Furthermore, the Indovida merger, while progressing, remains subject to final NCLT and regulatory clearances.

Context metrics (time-bound)

The geographic performance was broad-based, with double-digit growth across all regions: EAP (+40.2%), Europe (+30.4%), AMESA (+28.0%), and Americas (+25.3%).