EPL (500135) Q2 25/26 earnings summary

Executive summary

• Achieved 11% year-over-year revenue growth, 16.1% EBITDA growth, and 19.9% PAT growth, with EBITDA margin expanding to 20.9% for the fifth consecutive quarter above 20%.

• Beauty and cosmetics category delivered 26.3% growth, now representing over 50% of total revenue; Americas and EAP regions led growth, with Americas up 27.4% and EAP up 10.6%.

• Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.

• Announced leadership transition, with Hemant Bakshi to become MD and Global CEO from January 2026.

• Interim dividend of INR 2.50 per share declared for FY26.

Financial highlights

• Q2FY26 consolidated revenue reached INR 12,059 million, up from INR 10,862 million in Q2 FY25; EBITDA grew to INR 2,516 million, up 16.1% YoY; PAT rose to INR 1,061 million, up from INR 883 million YoY.

• EPS increased to INR 3.26 from INR 2.73 in Q2 FY24.

• Net debt-to-EBITDA ratio improved to 0.51.

• Interim dividend of INR 2.50 per share declared.

• Capex for YTDFY26 was INR 1,681 million.

Outlook and guidance

• Targeting sustainable, profitable double-digit growth through portfolio diversification and capital efficiency, with a focus on margin expansion and aiming for 25%+ ROC by FY2029.

• Confident in continued double-digit growth, especially as oral care recovers and B&C momentum builds.

• Guidance for Americas to deliver higher-than-global-average growth; Europe to return to mid-teens margins.

• Board and auditors confirm compliance with all regulatory and accounting standards.