Shares of EPL Ltd were trading 1.95% higher at Rs 195.30 on Wednesday, November 12, after the company reported a steady second-quarter performance for FY26, marked by strong revenue and profit growth. The stock opened firm following upbeat commentary from global brokerage Nomura, which maintained a Buy rating with a target price of Rs 350 per share.
Q2 FY26 financial performance
For the quarter ended September 2025, EPL Ltd’s net profit rose 19.89% year-on-year to Rs 104.30 crore, compared to Rs 87 crore in the same period last year.
Sales increased 11.02% YoY to Rs 1,205.90 crore from Rs 1,086.20 crore a year earlier, reflecting sustained momentum across its key business verticals.
Profit before tax (PBT) stood at Rs 140.90 crore, up from Rs 118.40 crore last year, while operating margins improved slightly to 20.86% from 20.13%.
The company’s profit before depreciation and tax (PBDT) also rose 16% YoY to Rs 235.30 crore, underscoring healthy operating leverage.
Nomura’s take and outlook
In its report, Nomura reiterated a Buy rating on EPL with a target price of Rs 350 per share, citing another quarter of good performance as guided by management. The brokerage noted that Q2 FY26 results came in above estimates, driven by strong momentum in the Beauty & Cosmetics (B&C) segment, even as AMESA and Oral Care segments were temporarily impacted by the GST transition.
Nomura added that EPL has maintained its guidance of double-digit sales growth and expects operating profit growth to outpace revenue expansion, reflecting sustained margin strength.
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