Capacity scale-ups to drive Epigral's ₹5,000 crore target by FY31: CMD Maulik Patel

Specialty chemicals manufacturer Epigral is targeting revenue of ₹5,000 crore by 2030-31, driven by upcoming production scale-ups in CPVC Resin and Epichlorohydrin (ECH), a senior company executive said.

The company expects to reach ₹2,900 crore in revenue this fiscal year following revenue of ₹2,500–2,530 crore in 2026.

"In FY26, we ended with around ₹2,500-2,530 crore of revenue, and at the current pace of growth, we expect around ₹2,900 crore this financial year.

"The capacity increase in production of CPVC Resin and ECH will start adding to the revenue from next year. Therefore, we are expecting to double our revenue to around Rs 5,000 crore by 2030-31," Epigral Chairman and Managing Director Maulik Patel told PTI.

The company's CPVC Resin capacity is being doubled from 75,000 TPA to 1,50,000 TPA, while ECH capacity is being doubled from 50,000 TPA to 1,00,000 TPA at the company's existing units in Dahej, Gujarat.

"Both capacity expansions are expected to be commissioned within a couple of months. The capex of ₹650 crore for this phase of capacity expansion of both projects is almost over and they will begin contributing to the topline partially this year, more meaningfully from the next financial year. The capex for both projects was raised entirely through internal accruals," he added.

Post 2019, the Gujarat-based company with a sizable balance sheet decided to enter products that are more of an import substitute.

Epigral entered the Epichlorohydrin (ECH) and CPVC resin businesses in 2022 and has successfully commissioned and operated both plants in Dahej, he said.

"To produce import-substitute chemicals, we became the first Indian company to manufacture ECH using a 100 per cent renewable glycerine-based process instead of the crude-oil-based propylene route used in the West -- a deliberately greener product.

“We also started manufacturing CPVC resin and have already become India's largest producer; with the doubling of capacity, we will become the world's largest manufacturer in this category," he added.

Further, Patel said, Epigral has bought new land at Dahej, close to the existing plant, for an entirely new chemistry line - still in the process of finalising a technology partner, expected to go to the board in another quarter.

He described it as import substitution again, similar in category to CPVC and ECH but at a much larger scale -- a molecule where roughly 90 per cent of Indian demand is currently imported.