Epigral Ltd Hit with Rs 52.52 Cr Tax Notice Time to Brace for Impact?

Epigral Ltd, a leading Indian chemical manufacturer, has received a hefty tax demand order of Rs 525.2 million from authorities. This development, reported on January 1, 2026, could pressure the company's finances amid its ongoing growth trajectory. Investors await the firm's response and potential appeal.
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Key Highlights

Tax Demand Amount: Rs 525.2 million (Rs 52.52 crore), issued recently as per market updates.
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Company Profile: Epigral specializes in integrated chemicals like CPVC and Epichlorohydrin, with strong Q1 FY26 revenue of Rs 615 crore and EBITDA margins at 27%.
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Recent Performance: Q1 FY26 PAT stood at Rs 160 crore (adjusted Rs 79 crore ex-deferred tax), plant utilization at 73%, ROCE up to 24%.

Strategic Outlook: Expansion in derivatives/specialty segments (50% revenue share), capex on capacity enhancements on track for H2 FY26 commissioning.
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Market Reaction: Shares may face volatility; company likely to challenge the order via appeal, a common step in such cases.

Sources: TradingView (Refinitiv), MarketScreener, Indian Chemical News