EPL Ltd
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]
- Market Cap ₹ 6,479 Cr.
 - Current Price ₹ 203
 - High / Low ₹ 290 / 175
 - Stock P/E 16.3
 - Book Value ₹ 73.7
 - Dividend Yield 2.47 %
 - ROCE 17.5 %
 - ROE 16.3 %
 - Face Value ₹ 2.00
 
Pros
- Company has been maintaining a healthy dividend payout of 57.1%
 
Cons
- Stock is trading at 2.75 times its book value
 - The company has delivered a poor sales growth of 8.82% over past five years.
 - Promoter holding is low: 26.4%
 - Tax rate seems low
 - Company has a low return on equity of 13.7% over last 3 years.
 - Promoter holding has decreased over last 3 years: -25.5%
 
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Packaging
Part of BSE SmallCap BSE Allcap BSE Industrials Nifty Microcap 250 Nifty Total Market
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,125 | 2,321 | 2,128 | 2,302 | 2,424 | 2,707 | 2,761 | 3,092 | 3,433 | 3,694 | 3,916 | 4,213 | 4,314 | |
| 1,770 | 1,929 | 1,723 | 1,880 | 1,960 | 2,208 | 2,204 | 2,481 | 2,864 | 3,119 | 3,201 | 3,376 | 3,439 | |
| Operating Profit | 355 | 392 | 404 | 422 | 464 | 499 | 558 | 611 | 569 | 575 | 715 | 837 | 875 | 
| OPM % | 17% | 17% | 19% | 18% | 19% | 18% | 20% | 20% | 17% | 16% | 18% | 20% | 20% | 
| 21 | 26 | 30 | 52 | 21 | 37 | 3 | -2 | 11 | 41 | 2 | 41 | 46 | |
| Interest | 81 | 79 | 61 | 58 | 55 | 61 | 56 | 43 | 40 | 67 | 116 | 114 | 113 | 
| Depreciation | 126 | 132 | 123 | 141 | 167 | 186 | 230 | 235 | 251 | 280 | 333 | 343 | 349 | 
| Profit before tax | 169 | 206 | 251 | 274 | 263 | 289 | 275 | 331 | 289 | 268 | 268 | 422 | 459 | 
| Tax % | 34% | 30% | 31% | 29% | 34% | 32% | 23% | 26% | 23% | 14% | 22% | 14% | |
| 112 | 145 | 173 | 196 | 174 | 195 | 212 | 244 | 221 | 231 | 210 | 364 | 400 | |
| EPS in Rs | 3.43 | 4.48 | 5.41 | 6.06 | 5.46 | 6.11 | 6.57 | 7.58 | 6.79 | 7.12 | 6.70 | 11.23 | 12.37 | 
| Dividend Payout % | 18% | 18% | 20% | 20% | 22% | 20% | 50% | 54% | 63% | 60% | 66% | 44% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 6% | 
| 5 Years: | 9% | 
| 3 Years: | 7% | 
| TTM: | 7% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 10% | 
| 5 Years: | 11% | 
| 3 Years: | 19% | 
| TTM: | 53% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% | 
| 5 Years: | -5% | 
| 3 Years: | 10% | 
| 1 Year: | -25% | 
| Return on Equity | |
|---|---|
| 10 Years: | 15% | 
| 5 Years: | 14% | 
| 3 Years: | 14% | 
| Last Year: | 16% | 
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31 | 31 | 31 | 31 | 31 | 63 | 63 | 63 | 63 | 64 | 64 | 64 | 
| Reserves | 674 | 752 | 933 | 1,008 | 1,219 | 1,325 | 1,470 | 1,635 | 1,761 | 1,926 | 2,028 | 2,291 | 
| 1,024 | 962 | 709 | 798 | 734 | 632 | 737 | 642 | 769 | 890 | 912 | 802 | |
| 362 | 365 | 334 | 412 | 452 | 492 | 526 | 654 | 670 | 723 | 767 | 795 | |
| Total Liabilities | 2,093 | 2,110 | 2,008 | 2,250 | 2,437 | 2,513 | 2,796 | 2,994 | 3,264 | 3,601 | 3,771 | 3,952 | 
| 898 | 887 | 924 | 1,179 | 1,184 | 1,307 | 1,364 | 1,531 | 1,473 | 1,694 | 1,912 | 1,970 | |
| CWIP | 36 | 89 | 57 | 19 | 42 | 41 | 35 | 27 | 147 | 178 | 72 | 73 | 
| Investments | 45 | 46 | 30 | 15 | 13 | 17 | 16 | 15 | 7 | 19 | 8 | 39 | 
| 1,114 | 1,088 | 996 | 1,036 | 1,198 | 1,147 | 1,381 | 1,421 | 1,636 | 1,711 | 1,780 | 1,870 | |
| Total Assets | 2,093 | 2,110 | 2,008 | 2,250 | 2,437 | 2,513 | 2,796 | 2,994 | 3,264 | 3,601 | 3,771 | 3,952 | 
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 257 | 313 | 361 | 369 | 343 | 356 | 471 | 522 | 312 | 602 | 586 | 795 | |
| -213 | -145 | -46 | -279 | -156 | -188 | -108 | -278 | -266 | -412 | -361 | -374 | |
| -33 | -168 | -320 | -76 | -154 | -194 | -142 | -319 | -95 | -138 | -263 | -431 | |
| Net Cash Flow | 11 | 0 | -5 | 13 | 34 | -25 | 221 | -75 | -50 | 52 | -37 | -10 | 
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63 | 59 | 57 | 60 | 69 | 67 | 65 | 70 | 68 | 64 | 65 | 61 | 
| Inventory Days | 79 | 74 | 79 | 89 | 101 | 101 | 116 | 117 | 143 | 133 | 144 | 151 | 
| Days Payable | 64 | 52 | 51 | 53 | 66 | 65 | 112 | 119 | 109 | 109 | 125 | 125 | 
| Cash Conversion Cycle | 78 | 82 | 85 | 95 | 104 | 103 | 70 | 67 | 102 | 87 | 85 | 87 | 
| Working Capital Days | 32 | 41 | 68 | 50 | 44 | 51 | 23 | 39 | 47 | 40 | 33 | 31 | 
| ROCE % | 14% | 16% | 18% | 17% | 17% | 17% | 16% | 17% | 13% | 12% | 15% | 17% | 
Documents
Announcements
- 
        
          Issuance And Allotment Of Commercial Paper Amounting To Rs. 50 Crore Of EPL Limited
          
            28 Oct - Issued Rs.50 crore commercial paper on Oct 27, 2025; maturity Jan 23, 2026; yield 6.58%.
 - 
        
          CFO Certificate In Terms Of SEBI Master Circular Bearing Ref. No. SEBI/HO/DDHS/Pod1/P/CIR/2024/54 Dated May 22, 2024
          
            20 Oct - CFO certificate: CP proceeds utilised as disclosed for quarter ended September 30, 2025.
 - 
        
          Announcement under Regulation 30 (LODR)-Earnings Call Transcript
          
            20 Oct - Transcript of the conference call for Analysts/Investors, which was held on October 13, 2025, is enclosed herewith.
 - 
        
          Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
          
            15 Oct - Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for quarter ended on September 30, 2025, is enclosed herewith.
 - 
        
          Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
          
            13 Oct - Conference call on Oct 13, 2025 about leadership transition; audio recording posted on company website.
 
Annual reports
- 
    
      Financial Year 2025
      from bse
 - 
    
      Financial Year 2024
      from bse
 - 
    
      Financial Year 2023
      from bse
 - 
    
      Financial Year 2022
      from bse
 - 
    
      Financial Year 2021
      from bse
 - 
    
      Financial Year 2020
      from bse
 - 
    
      Financial Year 2019
      from bse
 - 
    
      Financial Year 2018
      from bse
 - 
    
      Financial Year 2017
      from bse
 - 
    
      Financial Year 2016
      from bse
 - 
    
      Financial Year 2015
      from bse
 - 
    
      Financial Year 2014
      from bse
 - 
    
      Financial Year 2013
      from bse
 - 
    
      Financial Year 2012
      from nse
 - 
    
      Financial Year 2012
      from bse
 
Concalls
- 
      Oct 2025TranscriptPPT
 - 
      Aug 2025Transcript PPT REC
 - 
      Jun 2025TranscriptNotesPPT
 - 
      May 2025Transcript PPT REC
 - 
      Mar 2025TranscriptPPT
 - 
      Feb 2025Transcript PPT
 - 
      Nov 2024Transcript PPT
 - 
      Aug 2024Transcript PPT REC
 - 
      Aug 2024TranscriptNotesPPT
 - 
      Jun 2024Transcript PPT
 - 
      May 2024TranscriptNotesPPT
 - 
      Feb 2024Transcript PPT
 - 
      Nov 2023Transcript PPT
 - 
      Sep 2023TranscriptNotesPPT
 - 
      Aug 2023Transcript PPT
 - 
      May 2023Transcript PPT
 - 
      Feb 2023TranscriptPPT
 - 
      Feb 2023Transcript PPT
 - 
      Nov 2022Transcript PPT
 - 
      Aug 2022TranscriptPPT
 - 
      Jul 2022Transcript PPT
 - 
      Jul 2022Transcript PPT
 - 
      May 2022Transcript PPT
 - 
      Feb 2022Transcript PPT
 - 
      Feb 2022TranscriptNotesPPT
 - 
      Nov 2021Transcript PPT
 - 
      Jul 2021Transcript PPT
 - 
      May 2021Transcript PPT
 - 
      Feb 2021TranscriptNotesPPT
 - 
      Nov 2020TranscriptNotesPPT
 - 
      Jul 2020TranscriptNotesPPT
 - 
      May 2020TranscriptNotesPPT
 - 
      Feb 2020TranscriptNotesPPT
 - 
      Nov 2019TranscriptNotesPPT
 - 
      Aug 2019TranscriptNotesPPT
 - 
      May 2019TranscriptNotesPPT
 - 
      Jan 2019TranscriptNotesPPT
 - 
      Nov 2018TranscriptNotesPPT
 - 
      Jul 2018TranscriptNotesPPT
 - 
      Apr 2018TranscriptNotesPPT
 
Global Footprints[1]
The company is the world's largest global specialty packaging company with annual capacity of ~8 billion Tubes with manufacturing units operating across USA, Mexico, Colombia, Brazil, Poland, Germany, Egypt, China, Philippines and India.