Epigral Ltd, formerly known as Meghmani Finechem Ltd, is a prominent name in India’s chemical industry, recognized for its innovative and sustainability-driven practices. Established in 2007 and headquartered in Dahej, Gujarat, the company operates a state-of-the-art, fully automated, and integrated manufacturing facility. This facility stands as one of the most advanced in the industry, designed with a strategic focus on producing high-quality chemical products while adhering to environmental sustainability. Epigral Ltd is a leading producer of essential chemicals such as Caustic Soda, Caustic Potash, Chloromethanes, Hydrogen Peroxide, and CPVC Resin. Notably, the company has pioneered India’s first Epichlorohydrin plant, powered entirely by renewable resources, and operates the largest CPVC Resin plant in the country. These initiatives underline its commitment to technological innovation and eco-friendly solutions. With a vision to evolve into a global multi-product chemical conglomerate, Epigral continues to expand its production capacities and diversify its portfolio. The company’s robust backward and forward integration, coupled with its dedication to quality and sustainability, positions it as a key player in both domestic and international markets.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
| Promoters + | 71.38% | 71.49% | 71.58% | 71.58% | 68.94% |
| FIIs + | 1.17% | 1.36% | 1.46% | 2.10% | 3.01% |
| DIIs + | 0.05% | 0.02% | 0.18% | 1.17% | 4.31% |
| Government + | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public + | 27.37% | 27.10% | 26.75% | 25.12% | 23.71% |
| No. of Shareholders | 92,959 | 88,870 | 85,761 | 83,176 | 81,697 |
Epigral Ltd’s shareholding pattern from December 2023 to December 2024 reveals notable shifts. Promoters’ stake decreased from 71.38% to 68.94%, indicating slight dilution. Institutional interest grew significantly, with FIIs increasing their holdings from 1.17% to 3.01% and DIIs rising sharply from 0.05% to 4.31%. The government’s stake remained steady at 0.02% throughout the period. Public shareholding declined from 27.37% to 23.71%, reflecting increased institutional participation. The total number of shareholders reduced from 92,959 to 81,697.
Below are the trading platforms that you can use to purchase Epigral shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| April 2025 | 2,152.47 | 1,655.75 |
| May 2025 | 2,089.78 | 1,607.52 |
| June 2025 | 2,183.82 | 1,679.86 |
| July 2025 | 2,141.00 | 1,646.92 |
| August 2025 | 2,207.21 | 1,697.86 |
| September 2025 | 2,233.70 | 1,718.23 |
| October 2025 | 2,291.77 | 1,762.90 |
| November 2025 | 2,349.07 | 1,806.98 |
| December 2025 | 2,454.78 | 1,888.29 |
As we step into 2025, the share prices of Epigral are projected to exhibit a steady upward trajectory. Starting with April, the maximum price is expected to reach ₹2,152.47, while the minimum could touch ₹1,655.75. Progressing through the months, the prices are anticipated to steadily rise, culminating in December 2025 with a maximum price of ₹2,454.78 and a minimum price of ₹1,888.29.
| When | Maximum Price | Minimum Price |
| January 2026 | 2,528.42 | 1,944.94 |
| February 2026 | 2,465.21 | 1,896.32 |
| March 2026 | 2,514.51 | 1,934.24 |
| April 2026 | 2,565.83 | 1,973.72 |
| May 2026 | 2,540.43 | 1,954.17 |
| June 2026 | 2,603.94 | 2,003.03 |
| July 2026 | 2,552.88 | 1,963.75 |
| August 2026 | 2,631.83 | 2,024.49 |
| September 2026 | 2,684.47 | 2,064.98 |
| October 2026 | 2,754.27 | 2,118.67 |
| November 2026 | 2,823.12 | 2,171.63 |
| December 2026 | 2,893.70 | 2,225.93 |
As we move forward into 2026, the share prices of Epigral are forecasted to show consistent growth. Beginning in January, the maximum price is projected to reach ₹2,528.42, with the minimum estimated at ₹1,944.94. Over the course of the year, prices are expected to rise gradually, concluding in December 2026 with a maximum of ₹2,893.70 and a minimum of ₹2,225.93.
| When | Maximum Price | Minimum Price |
| January 2027 | 2,922.64 | 2,248.18 |
| February 2027 | 2,997.58 | 2,305.83 |
| March 2027 | 3,114.48 | 2,395.76 |
| April 2027 | 3,053.42 | 2,348.78 |
| May 2027 | 2,964.48 | 2,280.37 |
| June 2027 | 3,097.88 | 2,382.99 |
| July 2027 | 3,037.14 | 2,336.26 |
| August 2027 | 3,131.07 | 2,408.52 |
| September 2027 | 3,240.66 | 2,492.82 |
| October 2027 | 3,324.92 | 2,557.63 |
| November 2027 | 3,408.04 | 2,621.57 |
| December 2027 | 3,493.24 | 2,687.11 |
| When | Maximum Price | Minimum Price |
| January 2028 | 3,563.11 | 2,740.85 |
| February 2028 | 3,654.47 | 2,811.13 |
| March 2028 | 3,796.99 | 2,920.76 |
| April 2028 | 3,722.54 | 2,863.49 |
| May 2028 | 3,614.12 | 2,780.09 |
| June 2028 | 3,776.75 | 2,905.19 |
| July 2028 | 3,702.70 | 2,848.23 |
| August 2028 | 3,817.22 | 2,936.32 |
| September 2028 | 3,950.82 | 3,039.09 |
| October 2028 | 4,053.54 | 3,118.11 |
| November 2028 | 4,154.88 | 3,196.06 |
| December 2028 | 4,258.75 | 3,275.96 |
| When | Maximum Price | Minimum Price |
| January 2029 | 4,343.93 | 3,341.48 |
| February 2029 | 4,455.31 | 3,427.16 |
| March 2029 | 4,629.06 | 3,560.82 |
| April 2029 | 4,538.30 | 3,491.00 |
| May 2029 | 4,406.12 | 3,389.32 |
| June 2029 | 4,604.39 | 3,541.84 |
| July 2029 | 4,514.11 | 3,472.39 |
| August 2029 | 4,653.72 | 3,579.78 |
| September 2029 | 4,816.60 | 3,705.08 |
| October 2029 | 4,941.83 | 3,801.41 |
| November 2029 | 5,065.38 | 3,896.44 |
| December 2029 | 5,192.01 | 3,993.86 |
| When | Maximum Price | Minimum Price |
| January 2030 | 5,295.85 | 4,073.73 |
| February 2030 | 5,431.64 | 4,178.19 |
| March 2030 | 5,643.48 | 4,341.14 |
| April 2030 | 5,532.82 | 4,256.02 |
| May 2030 | 5,371.67 | 4,132.05 |
| June 2030 | 5,613.40 | 4,318.00 |
| July 2030 | 5,503.33 | 4,233.33 |
| August 2030 | 5,673.54 | 4,364.26 |
| September 2030 | 5,872.11 | 4,517.01 |
| October 2030 | 6,024.78 | 4,634.45 |
| November 2030 | 6,175.40 | 4,750.31 |
| December 2030 | 6,329.79 | 4,869.07 |
As we progress into 2030, the share prices of Epigral are anticipated to exhibit a strong upward trend. Starting in January, the maximum price is expected to reach ₹5,295.85, while the minimum is projected at ₹4,073.73. As the year unfolds, consistent growth is forecasted, culminating in December 2030 with a maximum price of ₹6,329.79 and a minimum price of ₹4,869.07.
Financial Condition of Epigral
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 611 | 829 | 1,551 | 2,188 | 1,929 | 2,447 |
| Expenses + | 416 | 567 | 1,041 | 1,499 | 1,448 | 1,754 |
| Operating Profit | 194 | 261 | 510 | 689 | 481 | 693 |
| OPM % | 32% | 32% | 33% | 31% | 25% | 28% |
| Other Income + | 2 | 2 | 4 | 8 | 6 | 13 |
| Interest | 11 | 29 | 44 | 66 | 73 | 55 |
| Depreciation | 44 | 74 | 86 | 109 | 124 | 129 |
| Profit before tax | 141 | 161 | 383 | 523 | 291 | 522 |
| Tax % | 21% | 37% | 34% | 32% | 33% | |
| Net Profit + | 112 | 101 | 253 | 353 | 196 | 347 |
| EPS in Rs | 27.19 | 24.48 | 60.84 | 85.04 | 47.12 | 82.53 |
| Dividend Payout % | 0% | 0% | 0% | 6% | 11% |
Epigral’s financial performance has demonstrated significant growth and resilience over the years, as evidenced by its key metrics from March 2020 to the trailing twelve months (TTM). Sales surged from ₹611 crore in March 2020 to ₹2,447 crore in the TTM, reflecting strong business expansion. Operating profit also showed a steady rise, growing from ₹194 crore in March 2020 to ₹693 crore in the TTM, despite fluctuations in OPM%, which ranged from 32% to 28% over the period.
The company’s prudent management is highlighted by the increase in other income from ₹2 crore in March 2020 to ₹13 crore in the TTM. However, interest and depreciation expenses have also grown, with interest climbing from ₹11 crore in March 2020 to ₹55 crore in the TTM and depreciation increasing from ₹44 crore to ₹129 crore during the same timeframe. Despite these rising costs, profit before tax nearly quadrupled from ₹141 crore in March 2020 to ₹522 crore in the TTM.
Epigral’s net profit exhibited impressive growth, reaching ₹347 crore in the TTM compared to ₹112 crore in March 2020, despite varying tax percentages over the years. The earnings per share (EPS) reflected this growth, climbing from ₹27.19 in March 2020 to ₹82.53 in the TTM. Additionally, the company’s dividend payout ratio has seen a gradual increase, reaching 11% in March 2024, signaling its commitment to returning value to shareholders.
FAQs
What is Epigral current market capitalization?
Epigral presently boasts a market capitalization of ₹8,089 crore.
As of March 20, 2025, Epigral shares are valued at ₹1,901.
What is Epigral’s current Price-to-Earnings (PE) ratio?
The current PE ratio for Epigral stands at 23.3.
Anticipated for 2025, Epigral’s share price is expected to range from ₹1,607.52 to ₹2,454.78.
The minimum share price target for 2030 is in January at ₹4,073.73, and the maximum share price target is in December at ₹6,329.79 for 2030.
Also Read
- Caplin Point Laboratories Share Price Target 2025, 2026 to 2030
- GMM Pfaudler Share Price Target 2025, 2026, 2027 to 2030
- Marsons Share Price Target 2025, 2026 to 2030
Conclusion
Epigral Ltd has emerged as a significant player in India’s chemical industry, with its innovative and sustainability-focused approach. The company has showcased consistent growth in financial performance, marked by strong sales and net profit increases from 2020 to 2024. Its advanced manufacturing capabilities, including pioneering renewable-powered facilities, underscore its commitment to technological innovation and environmental sustainability.
What did we learn?
