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Speciality Plastics

Indovida

Broader sector Private
Headquarters
Bangkok, IN
Segment
Speciality Plastics
Stories held
1
Last story
5 Nov 2026

Indovida is the rigid packaging business of Indorama Ventures, making PET preforms, bottles and closures across plants in Asia and Africa. In March 2026 it agreed to merge with India's EPL Ltd in a deal valuing the combined group at about USD 2bn, creating a combined rigid-and-flexible packaging group for emerging markets.

1 stories · 2026

EPL posts 4.5% profit rise and 30% revenue growth in September quarter

Indian speciality packaging maker EPL reported consolidated net profit of USD 11.8m (INR 110.9 crore) for the September 2026 quarter, up 4.5% year on year, as revenue from operations rose 30% to USD 166.9m (INR 1,567.4 crore). Growth was led by the Beauty & Cosmetics and Oral Care segments; underlying EBITDA margins stayed above 20%, while higher depreciation, a higher tax rate and FX losses held back profit growth. The company reaffirmed near-term guidance of high-teens revenue growth and about 20% underlying EBITDA margins.

Why this mattersRevenue up 30%, with cost increases passed on in full, shows beauty and oral care brands are still buying more speciality packaging despite cost pressure.

  • Net profit was USD 11.8m (INR 110.9 crore) in Q2 FY27, up 4.5% from USD 11.3m (INR 106.1 crore) a year earlier
  • Revenue from operations rose 30% to USD 166.9m (INR 1,567.4 crore) from USD 128.4m (INR 1,205.9 crore)
  • Underlying revenue growth, excluding commodity pass-through pricing, was 20.3%
  • Beauty & Cosmetics grew more than 40% and overtook Oral Care as the largest category in September; Oral Care grew 20%
  • Profit growth was held back by higher depreciation, a higher effective tax rate and FX losses
  • EPL reaffirmed guidance of high-teens revenue growth and about 20% underlying EBITDA margin
EPL Ltd Indovida counterparty
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