EPL Limited (EPL) AI Stock Analysis

• Market Cap: ₹60.90B
• Dividend Yield: 2.32%
• Average Volume (3M): 21.11K
• Price to Earnings (P/E): 21.1
• Beta (1Y): 1.28
• Revenue Growth: 8.19%
• EPS Growth: 58.19%
• Country: IN
• Employees: 1,427
• Sector: Energy
• Sector Strength: 52
• Industry: Packaging & Containers
• EPS (TTM): 2.90
• Shares Outstanding: 320,247,830
• 10 Day Avg. Volume: 17,542
• 30 Day Avg. Volume: 21,109
• PEG Ratio: 0.26
• Price to Book (P/B): 2.75
• Price to Sales (P/S): 1.54
• P/FCF Ratio: 15.01
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 12.93
• Revenue Forecast (FY): ₹46.74B

• Rating: 65 Neutral
• Price Target: ₹240.00 ▲(12.33% Upside)
• Action: Downgraded Date: 10/31/25
• Date: Action: Downgraded 10/31/25

EPL Limited's overall stock score reflects strong financial performance, with robust revenue growth and effective cash flow management. However, the stock is currently facing bearish technical indicators, which weigh down the score. The valuation is fair, providing a moderate dividend yield. Investors should monitor the technical trends closely, as the stock is nearing oversold levels.

Positive Factors

Recurring Revenue / Customer Stickiness

EPL supplies laminated and specialty tubes to FMCG brand owners where packaging is a recurring production input. Long-term supply relationships, specification-driven orders and high-quality multi-color decoration create switching friction, supporting predictable repeat revenue and volume stability over the medium term.

Sustained Revenue Growth

Five-year growth from ~27.5B to ~42.1B INR and a ~10.4% revenue growth metric indicate consistent top-line expansion. Sustained revenue gains improve capacity utilization, enable operational leverage, and provide a durable base for reinvestment in manufacturing and printing capabilities over the next several quarters.

Strong Cash Generation

Operating cash flow consistently exceeding net income and materially growing free cash flow point to real cash-generative operations. This enhances financial flexibility for capex, dividends or debt repayment, reducing reliance on external funding and supporting durable investment capacity over a multi-quarter horizon.

Negative Factors

Rising Leverage

Although the balance sheet is described as robust, the gradual increase in debt-to-equity raises leverage risk. Growing indebtedness can constrain financial flexibility, increase interest expense sensitivity and heighten refinancing risk if macro conditions or cash generation weaken over the coming quarters.

Operating Margin Pressure

A slight decline in EBIT margin signals pressures on operating efficiency despite improvements in gross and net margins. If persistent, this operating margin compression could limit the firm's ability to convert revenue growth into sustainable operating profits without demonstrable cost controls or pricing adjustments.

Cash Conversion Gap

While free cash flow has grown, the weaker conversion of net income into FCF indicates potential working capital or capex timing issues. A persistent earnings-to-cash gap can reduce available cash for strategic investments, dividends or debt reduction and warrants monitoring over the next several reporting periods.

EPL Limited Business Overview & Revenue Model

Company Description

EPL Limited, together with its subsidiaries, manufactures and sells plastic packaging materials in the form of multi-layer collapsible tubes and laminates. It offers laminated tubes that are used for packaging in personal care, food, pharma, and industrial applications; seamless plastic tubes, which are used for packaging low-volume products in a range of industries; and customized specialty, aluminum barrier, and plastic barrier laminates, as well as metallic, iridescent, holographic, soft touch, or custom colored materials. The company also provides caps and closures for hair care and personal care product bottles; Glow in the Dark tubes for clients in categories, such as beauty and cosmetics, pharma and health, and oral care; Super Titanium, a tube alternative for oral care, toiletries, and food products; Mystik tubes for hair colorant and other product formulations; Clarion, a UV shield tube for packing oral care, beauty, and cosmetic products; Velvetie tubes for packaging oral care and cosmetic products; and dispensing systems. It has operations in the Americas, Europe, Africa, the Middle East, South Asia, and the East Asia Pacific. The company was formerly known as Essel Propack Limited and changed its name to EPL Limited in October 2020. EPL Limited was incorporated in 1982 and is based in Mumbai, India. EPL Limited is a subsidiary of Epsilon Bidco Pte. Ltd.

How the Company Makes Money

EPL generates revenue through the sale of its packaging products across multiple sectors, with key revenue streams derived from consumer goods, healthcare, and food and beverage industries. The company enters into long-term contracts with major brands, providing customized packaging solutions that cater to specific client needs. Additionally, EPL benefits from economies of scale, allowing it to maintain competitive pricing while maximizing profit margins. Strategic partnerships with prominent brands and manufacturers further bolster its market presence and drive sales. The company also explores innovative packaging technologies, which not only meet evolving consumer preferences but also create new revenue opportunities in niche markets.

EPL Limited Financial Statement Overview

Summary

EPL Limited exhibits strong financial performance with robust revenue growth and improved profit margins. The balance sheet is stable, though the increasing debt-to-equity ratio requires monitoring. Cash flow management is effective, with strong operating cash flow and growing free cash flow, though there is room for improvement in converting net income to free cash flow.

Income Statement

EPL Limited shows strong revenue growth with a consistent upward trend in total revenue, increasing from 27.46B to 42.13B INR over five years. The gross profit margin improved significantly, indicating effective cost management. The net profit margin has also shown positive growth, reflecting enhanced profitability. However, the EBIT margin slightly declined over the years, suggesting some pressure on operating efficiency.

Balance Sheet

The company's balance sheet reflects robust financial stability with a healthy equity ratio, indicating a solid capital base. The debt-to-equity ratio remains manageable, though it has seen a gradual increase, which could pose a risk if not monitored. The return on equity is strong, showcasing effective use of shareholders' funds to generate profits.

Cash Flow

EPL Limited demonstrates strong cash flow management, with operating cash flow consistently outpacing net income, highlighting effective cash generation from operations. Free cash flow has grown significantly, enhancing financial flexibility. However, the free cash flow to net income ratio suggests room for improvement in translating net income into free cash flow.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	44.34B	42.13B	39.16B	36.94B	34.08B	30.77B
Gross Profit	26.34B	24.78B	21.96B	20.20B	17.45B	16.54B
EBITDA	9.46B	8.79B	7.12B	6.17B	5.87B	6.09B
Net Income	4.12B	3.59B	2.13B	2.27B	2.14B	2.39B
Balance Sheet
Total Assets	44.60B	40.05B	38.09B	36.30B	32.93B	30.11B
Cash, Cash Equivalents and Short-Term Investments	2.75B	2.22B	2.01B	2.54B	1.87B	2.37B
Total Debt	8.50B	8.03B	9.12B	8.89B	7.67B	6.44B
Total Liabilities	18.28B	16.47B	17.18B	16.38B	14.35B	12.80B
Stockholders Equity	26.24B	23.55B	20.91B	19.89B	18.25B	16.98B
Cash Flow
Free Cash Flow	1.28B	4.32B	2.12B	2.15B	362.00M	3.46B
Operating Cash Flow	2.96B	7.95B	5.87B	6.02B	3.12B	5.22B
Investing Cash Flow	-1.49B	-3.76B	-3.44B	-3.89B	-2.64B	-2.81B
Financing Cash Flow	-1.36B	-4.31B	-2.63B	-1.38B	-954.00M	-3.19B

EPL Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 213.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EPL, the sentiment is Negative. The current price of 213.65 is above the 20-day moving average (MA) of 200.60, above the 50-day MA of 205.23, and below the 200-day MA of 213.86, indicating a bearish trend. The MACD of -6.07 indicates Positive momentum. The RSI at 41.18 is Neutral, neither overbought nor oversold. The STOCH value of 55.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:EPL.

EPL Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TDPOWERSYS	70 Outperform	₹134.83B	48.62	―	0.23%	40.14%	53.51%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
EPL	65 Neutral	₹60.90B	21.09	―	2.32%	8.19%	58.19%
GMRP&UI	51 Neutral	₹81.50B	9.87	―	―	18.74%	-58.19%
BORORENEW	49 Neutral	₹59.04B	18.86	―	―	7.68%	-114.23%
RTNPOWER	44 Neutral	₹44.68B	23.36	―	―	-5.68%	-99.16%
SWSOLAR	43 Neutral	₹40.10B	-446.21	―	―	112.24%	-474.43%

EPL Limited Corporate Events

EPL Seeks Shareholder Nod for New CEO and Board Appointments via E-Vote

EPL Limited has initiated a postal ballot process to seek shareholder approval for key board and leadership changes, including the appointment of Anand Kripalu as a non-executive, non-independent director from April 1, 2026, and Hemant Bakshi as a director from January 1, 2026. The company is also proposing to appoint Bakshi as Managing Director and Global Chief Executive Officer for a five-year term starting January 1, 2026, signaling a significant leadership transition that may influence its strategic direction and global growth plans.

Shareholder approval for these appointments is being obtained exclusively through remote electronic voting, in line with provisions of the Companies Act, SEBI listing regulations and recent Ministry of Corporate Affairs circulars, with voting open from February 25 to March 26, 2026. By relying solely on e-voting and digital distribution of the postal ballot notice, EPL underscores a continued shift toward electronic shareholder engagement and compliance-driven governance practices, which are increasingly standard across listed Indian companies.

EPL Publishes Q3 FY26 Earnings Call Transcript to Bolster Investor Transparency

EPL Limited has released the transcript of its Q3 FY26 earnings conference call, where senior management discussed the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The transcript, aimed at analysts and investors, provides detailed commentary on the company’s operating and financial performance during the period.

By formally filing the conference call transcript with the stock exchanges and publishing it on its website, EPL reinforces its compliance and disclosure standards under Indian listing regulations. The move enhances transparency for shareholders and market participants, ensuring broader access to management’s views on recent results and business conditions, which can inform investment decisions and stakeholder assessments of the company’s trajectory.

EPL Limited Sets Up ESOP Trust to Implement 2025 Stock Option Scheme

EPL Limited has adopted a new Employees Stock Option Scheme 2025 (ESOS 2025) following approvals from its Board of Directors and shareholders via a postal ballot concluded on December 14, 2025. To administer this scheme, the company has created an irrevocable private ESOP trust, the EPL ESOP Trust, through a trust deed executed on December 19, 2025 under the Indian Trusts Act, 1882, and has submitted the duly registered deed to the stock exchanges in compliance with SEBI’s share-based employee benefit regulations, signaling a structured approach to employee incentives and alignment of staff interests with shareholder value.