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EPL LIMITED Q2FY27 Earnings Presentation ® •epl LEAOl m PACK •c,CJ'~' t ~ PLATINUM ecovadis Sustainability Rating AUG 2025
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2 Certain statements in this presentation conce rning our future growth prospects are forwar d-looking statements. The Company cautions that, by their nature, forward-looking stateme nts involve risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The ri sks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manag e growth, intense competition in packaging industry including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame co ntracts, client concentration, industry segme nt concentration, our ability to manage our operations, reduced demand for packaging products in our key focus areas, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which is EPL (Formerly known as Essel Propack Limited) has made strategic investments, withdrawal of governmental fiscal incentives, politica l instability and regional conflicts, legal restrictions on raising cap ital or acquiring companies, and unauthorized use of our i ntellectual property and general economic conditions affecting our industry. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company. Safe Harbour EPL Limited Q2FY27 Earnings Presentation 2
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3 • Q2FY27 Highlights and Financial Performance • Update on Key Initiatives • Growth Drivers • Sustainability: Product, Process, People • Awards and Recognition • Looking Ahead • Appendix EPL Limited Q2FY27 Earnings Presentation Key topics
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4 Q2FY27: Strong Quarter with 30.0% Revenue Growth and 17.6% EBITDA growth EPL Limited Q2FY27 Earnings Presentation 4 Delivered strong revenue growth of 30.0%, driven by broad based momentum across categories and regions. Excluding commodity pass-through pricing, underlying revenue growth st ood at 20.3%, reflecting strong acceleration in core business performance. All regions delivered strong growth with EAP leading the pac k at 40.2%. AMESA, Americas and Europe have grown at 28.0%, 25.3% and 30.4% respectively. Underlying EBITDA margin stood at 20.4% growing 17.6% vs PY demonstrating resilience in our operating model during volatile operating environment. However, reported EBITDA is at 18.9% due to commodity inflation led pricing pass through. PAT growth of 5.6% impacted by higher depreciation (due to ahead of the curve investments), higher ETR (due to lower Europe profit) and FX losses. We expect PAT growth to recover in coming quarters. Return on Capital Employed (‘ROCE’) continues to be strong at 18.2%. 2 3 1 4 5 • • • • •
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5 Our Investments are reflecting in growth acceleration EPL Limited Q2FY27 Earnings Presentation 5 ..resulting in double digit revenue growth over last 6 quarters • Acquiring new customer in B&C (80+ customers) • Wallet share gain in Oral with MNC’s 11,079 12,059 11,488 13,005 13,879 15,674 10.0% 11.0% 13.3% 17.6% 25.3% 30.0% 0% 5% 10% 15% 20% 25% 30% 35% 8000 9000 10000 11000 12000 13000 14000 15000 16000 17000 Q1 FY 26 Q2 FY 26 Q3 FY 26 Q4 FY 26 Q1 FY 27 Q2 FY 27 Stepped Up Investments… 1 Ahead of the curve CAPEX investment in new technologies/capabilities Extrusion Lines Printing Lines New Tooling Investment 2 Opex investment in building differentiated capabilities Innovation CoE Hunting Manpower Value-Added Processes (Metalization) Underlying Growth 20.0% 20.3% ® ep • > • I --___ J
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6 1,043 1,101 3.26 3.44 Q2FY26 Q2FY27 Q2FY27 Consolidated Financial Highlights (INR million) 12,059 15,674 Q2FY26 Q2FY27 30.0% 2,516 2,960 20.9% 18.9% Q2FY26 Q2FY27 17.6% 1,572 1,826 13.0% 11.6% Q2FY26 Q2FY27 16.2% PAT and EPS 5.6%. Net Debt and Net Debt/ LTM EBITDA Revenue growth by region – AMESA (+28.0%), India (+30. 5%), EAP (+40.2%), Americas (+25.3%), Europe (+30.4%) Underlying EBITDA margin @20.4%. Reported EBITDA @18.9% due to commodity inflation led pricing included in revenue. P A Tg r o w t hi m p a c t e db yh i g h e rd e p r e c i a t i o n( d u et oa h e a do ft h ec urve investments), higher ETR (due to lower Europe profit) and FX losses. We expect PAT growth to recover in coming quarters. Net debt increase due to ahead of the curve capex investments and higher working capital due to middle east crisis. Revenue from Operations EBITDA and EBITDA Margins1 EBIT and EBIT Margins ROCE 4,636 6,562 0.51x 0.62x Q2FY26 Q2FY27 6 EPL Limited Q2FY27 Earnings Presentation 1 EBITDA is excluding Fx gain/(loss). In the publication Fx gain is included in Other income and Fx losses are part of Other Expense s. 18.7% 18.2% Q2FY26 Q2FY27 -51 bps - l D D D D r
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7 Key Growth and Capital Efficiency KPIs (INR million) Growth Capital Efficiency Revenue EBITDA EPS (INR) Capex ROCE Q2FY26 Q2FY27 Growth As of Sep’25 As of Sep’26 YTDFY26 YTDFY27 5.4% 17.6% 30.0% Net Debt EPL Limited Q2FY27 Earnings Presentation 12,059 15,674 2,516 2,960 3.26 3.44 18.7% 18.2% 4,636 6,562 1,681 3,150 c:> c:>
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8 5,991 7,143 8,396 2,268 2,516 2,308 2,632 2,612 2,960 16.2% 18.2% 19.9% 20.5% 20.9% 20.1% 20.2% 18.8% 18.9% 500 1,500 2,500 3,500 4,500 5,500 6,500 7,500 8,500 14.0% 15.0% 16.0% 17.0% 18.0% 19.0% 20.0% 21.0% 22.0% FY23 FY24 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 19.2% 17.5% 18.1% 16.1% 11.9% 17.2% 15.2% 17.6% Consistent Mid-teens EBITDA growth; Underlying Margin at 20.4% 8 EBITDA Growth EPL Limited Q2FY27 Earnings Presentation *EBITDA is excluding Fx gain/(loss). In the publication Fx gain is included in Other income and Fx losses are part of Other Expenses. FY26 EBITDA Growth +15.8% EBITDA: 9,724Mn Margin: 20.4% YTD FY27 EBITDA Growth +16.5% EBITDA: 5,572Mn Margin: 18.9% (Underlying Margin 20.0%) 19.6% 20.4% Underlying EBITDA Margin I t--------•• I I I I I I I ---- ----
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9 • Q2FY27 Highlights and Financial Performance • Update on Key Initiatives • Growth Drivers • Sustainability: Product, Process, People • Awards and Recognition • Looking Ahead • Appendix Key topics EPL Limited Q2FY27 Earnings Presentation
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10 Accelerating Growth Momentum 1 3 Americas – Delivered strong broad based growth of 25.3% for the quarter. Brazil continues accelerated revenue growth trajectory.4 EAP – Delivered outstanding revenue growth of 40.2% driven by strong momentum in B&C and a continued focus on premiumization in Oral Care. B&C* continued strong performance with robust 42.9% growth fueled by strong momentum across regions. With continued investments, management focus and execution discipline, we remain confident in sustaining growth momentum. 10 With continued B&C momentum and inflation led pricing benefit, we feel confident to deliver high teens growth in next few quartersEPL Limited Q2FY27 Earnings Presentation AMESA: Delivered strong revenue growth of 28.0% led by sustained B&C momentum and continued recovery in Oral care; India grew at solid 30.5%.2 *Beauty and cosmetics` Europe – Solid revenue growth of 30.4% led by B&C and continued key customer recovery. Focus on new product and customers will fuel further growth. 5 • • • • •
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11 Personal Care & Beyond at 55% of total revenue, Shift accelerating driven by strategic focus ‘Personal Care & beyond’* contribution to Tube Revenue 43% 45% 46% 46% 47% 47% 48% 53% 55% FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 YTDFY27 1233 bps 1233 bps * ‘Personal Care and beyond’includes Beauty & Cosmetics, Pharma etc 11 EPL Limited Q2FY27 Earnings Presentation
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12 ‘Personal Care & beyond’ * category has grown at ~9% CAGR over the last 12 years and continues to be the major growth driver for EPL with 32.4% growth in YTDFY27 8,254 11,206 12,852 14,291 15,947 17,242 19,094 23,608 15,184 FY15 FY20 FY21 FY22 FY23 FY24 FY25 FY26 YTDFY27 ‘Personal Care & beyond’* Revenue (INR million) ‘Personal Care & beyond’* revenue growth higher than Oral Care. Work in progress towards adding sub segments in B&C category. Face Care Hair Care Food OTC Medication # Home Eye Care Hand Cream Hygiene Products# Prescription Medication # New Applicator (B&C) # Pharma Grease / gear oil EPL Limited Q2FY27 Earnings Presentation * ‘Personal Care and beyond’includes Beauty & Cosmetics, Pharma etc. Growth 32.4% YoY Growth 32.4% YoY Sub categories 12
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13 Established Global Leadership in Oral Care with revenue growth at a CAGR of ~5.0% 11,764 12,748 13,809 12,748 16,720 18,300 19,212 20,366 21,063 12,487 FY15 FY17 FY20 FY21 FY22 FY23 FY24 FY25 FY26 YTDFY27 Oral Care Revenue (INR million) Market PositioningMarket Positioning #1 CustomersCustomers Business highlightsBusiness highlights 1. Acceleration of commercialization of sustainable Platina tubes globally 2. Co creation of sustainable solutions to meet customer demands. 1. Market leader across key markets 2. Long term relationships with customers 3. Continued leadership through product and process innovation 4. Unique, agile, and customer-specific supply chain models Growth 21.4% Y-o-Y Growth 21.4% Y-o-Y EPL Limited Q2FY27 Earnings Presentation tffi,fittl F~>7" ,nx:,::~ WEIMEIZI l ibY "'5.0%CAGR ~ ~ o ~
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14 Advancing New Business Growth through Innovative and Sustainable Offerings EPL developed a smart dual - chamber packaging solution with a 180° ROTATING CAP for Lingqingxuan, an emerging cosmetics brand in China . www.eplglobaLcom rfj
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15 Sustainability: Scaling Up Recyclable Volumes with continuous improvement Product Sustainability P l a t i n as e ta sab e n c h m a r kf o rs u s t a i n a b l es o l u t i o n s , certified through APR and CIPET. Market success across regions by collaborating with customers to promote sustainable tube adoption. Process Sustainability EPL has been awarded the EcoVadis Pl atinum Rating, placing us among the top 1% of companies globally out of more than 1,50,000 assessed. EPL’s sites at Vasind, Nalagarh, and Wada have been certified as Zero Waste to Landfill by SGS India Ltd Retained topmost “ A “ rating in supplier engagement for third consecutive year. Recognized among the top ~2% of companies globally on the CDP Climate & Water A List 2025. 15 Recyclable volumes scaling up fast 10% 21% 33% 38% 41% FY23 FY24 FY25 FY26 H1 FY 27 41% of our portfolio now comprises of sustainable tubes. EPL Limited Q2FY27 Earnings Presentation I I I I I I ■ ~ ISO ~ 50001:2018 _,/ PLATINUM .. ecovadis Sustainability Rating AUG2025 ~ ELLEN MACARTHUR ~ FOUNDATION ~CDP DISCLOSURE INSIGHT ACTION ~NOIA PLASTICS PACT The Association of Plastic Recyclers
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16 People Sustainability: Embracing Corporate Social Responsibility 16 EPL Limited Q2FY27 Earnings Presentation Our CSR vision is in alignment with the overall EPL ambition of becoming the most sustainable packaging company in the world. All CSR programs are a step further towards achieving 7 select UN’s Sustainable Development Goals (SDGs)and aligned with multiple govt schemes. Plastic Waste Management 55,000+ kgs of plastic waste collected through recycling and awareness drives Community Service School buildings, computer labs, libraries, RO systems and village roads near our plants Skill Development 1,200+ youth trained in vocational and technical skills Vapi flood relief 800+ kits · 3,500+ lives 8
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17 • Q2FY27 Highlights and Financial Performance • Update on Key Initiatives • Growth Drivers • Sustainability: Product, Process, People • Awards and Recognition • Looking Ahead • Appendix Key topics EPL Limited Q2FY27 Earnings Presentation
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18 Award: EPL Limited is now Ecovadis Platinum certified! 18 EPL Limited Q2FY27 Earnings Presentation Places us among the top 1% of over 150,000 companies assessed globally for sustainability performance. Only Indian Packaging company from India to achieve the same Reinforces the Company’s vision to be the most sustainable packaging company in the world and strengthens its position as a preferred partner for global brands. ~ PLATINUM ecovadis Sustainability Rating AUG 2025
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19 Awards: EPL is certified in 7 countries as “Great Place to Work” for FY 26-27 19 EPL Limited Q2FY27 Earnings Presentation INDIA Great Place To Work® Certified AUG 2026-AUG 2027 INDIA EGYPT Great Place To Work® Certified AUG 2026-AUG 2027 EGYPT PHILIPPINES Great Place To Work® Certified AUG 2026-AUG 2027 PH MEXICO Great Place To Work® Certified AUG 2026-AUG 2027 MEXICO COLOMBIA Great Place To Work® Certified AUG 2026-AUG 2027 COL CHINA Great Place To Work™ Certified AUG 2026-AUG 2027 CHN BRAZIL Great Place To Work ® Certified AUG 2026-AUG 2027 BRAZIL
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20 Awards: Celebrating Excellence across the board 20 EPL Limited Q2FY27 Earnings Presentation Multiple Awards for Innovation at IFCA Star awards 2026 Recognised at the Print Week 2026 ® I 1 LEADING THE PA~ , (tt0(~' ,81,1~1Ctft
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21 • Q2FY27 Highlights and Financial Performance • Update on Key Initiatives • Growth Drivers • Sustainability: Product, Process, People • Awards and Recognition • Looking Ahead • Appendix Key topics EPL Limited Q2FY27 Earnings Presentation
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22 Looking Ahead: Scale, Profitability and Capital Efficiency 22EPL Limited Q2FY27 Earnings Presentation • B&C delivered 33.5% growth in YTDFY27 • Brazil continues strong growth; Thailand scaling up well. • Extruded tubes expansion showing good results • ROCE in Q2FY27 at 18.2% Targets & Initiatives Current Status • Aggressive B&C Play • Brazil scale up • Geographical Expansion with Thailand • M&A • Consistent margin improvement • Robust Capital Deployment model • Operational Efficiencies in NWC and asset utilization Driven by Sustainability Led Competitive Advantage
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23 Merger with Indovida : Progress Update 23EPL Limited Q2FY27 Earnings Presentation Notes: (1) Applied and received approval in – Australia, Israel, Brazil, China, Nigeria, EU, Tanzania, Saudi Arabia, Egypt and Turkey. In Mar’26, the Company announced merger of EPL and Indovida to create a consumer packaging leader for emerging markets (the “Merger”), through a Scheme of Amalgamation (by way of merger by absorption) (“Scheme”) Application filed with the Hon’ble NCLTMumbai (“NCLT”), on October 23, 2026 Upon receipt of directions from the NCLT, a meeting of shareholders will be convened to consider the Scheme Following shareholders’ approval, the Scheme will be placed before the NCLT for sanction. Upon receipt of the NCLT sanction and fulfilment of the other conditions under the Scheme, the Merger will become effective and the new equity shares of the Company will be allotted and listed. Observation Letters dated October 19, 2026, received from BSE Limited and the National Stock Exchange of India Limited, conveying their no-objection to the Scheme without any adverse observations Foreign anti-trust approvals: 10 of 10 received (1) Indicative timeline for the completion of the Merger : Q4 FY27(subject to receipt of requisite approvals and fulfilment of the conditions under the Scheme) EPL Received CCI approval for the merger on May 26, 2026 Approval from NCLT and listing Stock Exchange approvals Foreign Anti- Trust Approvals CCI Approval Transaction Announcement
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24 • Q2FY27 Highlights and Financial Performance • Update on Key Initiatives • Growth Drivers • Sustainability: Product, Process, People • Awards and Recognition • Looking Ahead • Appendix Key topics EPL Limited Q2FY27 Earnings Presentation
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25 Q2FY27 Performance – AMESA and EAP (INR million) 25 EPL Limited Q2FY27 Earnings Presentation % change Q2FY27Q2FY26Particulars 40.2%4,1382,951Revenue 28.7%852662EBITDA 20.6%22.4%EBITDA % 28.6%648504EBIT 15.7%17.1%EBIT % % change Q2FY27Q2FY26Particulars 28.0%4,9973,904Revenue 23.9%933753EBITDA 18.7%19.3%EBITDA % 33.6%597447EBIT 11.9%11.4%EBIT % EAP AMESA India revenue grew by 30.5% on back of strong Oral demand, wallet share gains and continued B&C performance. EBITDA stood at 18.5% with 28.1% growth.
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26 Q2FY27 Performance – Americas and Europe (INR million) Europe Americas 26 EPL Limited Q2FY27 Earnings Presentation • Revenue growth continues to be supported by robust demand and a promising B&C pipeline. • Profitability remains impacted due to ‘deeper than expected’ operational challenges. Theses along with continued ahead of the curve growth investments have impacted profitability. • Corrective actions are underway, with margins expected to recover progressively over next 3–4 quarters. % change Q2FY27Q2FY26Particulars 25.3%4,4003,512Revenue 16.9%857733EBITDA 19.5%20.9%EBITDA % 13.6%535471EBIT 12.2%13.4%EBIT % % change Q2FY27Q2FY26Particulars 30.4%3,5072,690Revenue -2.9%364375EBITDA 10.4%13.9%EBITDA % -42.4%91158EBIT 2.6%5.9%EBIT %
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27 About EPL (Formerly known as Essel Propack Limited) 27 EPL Limited Q2FY27 Earnings Presentation
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28 Middle East Crisis driving input cost inflation; Ensuring supply security while protecting profitability 28 Source: ICIS M LLDPE & HDPE Index; CBIC exchange rate EPL Limited Q2FY27 Earnings Presentation Key guiding principles to manage the crisis Supply Security Leverage supplier relationships and manage inventory to secure adequate safety stocks Margin Protection Full pass-through of cost inflation; protecting robust absolute EBITDA growth Market Share Gains Superior supply chain reliability helping us win new business and gain wallet share 0 50 100 150 200 250 300 350 400 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Aluminium Foil INR/kg LME SHFE 0 50 100 150 200 250 300 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Polymer INR/kg LLDPE HDPE I I I I I I I G G
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29 9bn+ Tubes Supplied Annually 21 State of the Art Manufacturing Facilities Globally 6000+ Employees 23+ Nationalities Represented 5 Categories Served* Oral Beauty & Cosmetics PharmaHome Industrial 11 Countries with operational presence EPL: Company Overview AMESA 27% of Annual Revenue 9 Plants | ~3500 Employees EAP 22% of Annual Revenue 5 Plants | ~1000 Employees Europe 23% of Annual Revenue 3 Plants | ~600 Employees Americas 28% of Annual Revenue 4 Plants | ~900 Employees *all non oral categories will be referred to as “Personal care & Beyond” 29 EPL Limited Q2FY27 Earnings Presentation *including volumes from plants in customer premises India China Philippines Indonesia* * Brazil Colombia Mexico USA UK* PolandGermany Egypt Thailand 27'¾ g Pia~ 22'¾ 5 Pia~ ® I 1 LEADING THE PA~ jt(tf(1(~. ,81,,1~1"
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30 EPL Caters to Marquee Customers Across Trillion Dollar Categories Oral Care, 44% Beauty & Cosmetics, 43% Pharma , 8% Others, 5% Tube revenue split (Q2 FY 27) ‘Personal Care & beyond’*, 56% * ‘Personal Care and beyond’includes Beauty & Cosmetics, Pharma etc 30 EPL Limited Q2FY27 Earnings Presentation -------------------------------------------------------------------------- tffi❖ki& HAL ::ON ~OREAL AVON 1-~ PATANJAL ® HEALTH • HYGIENE• HOME Enduring Value marico Ii ilillltil ,-- PR6YA COM P AN IE S ••>':~~:(~i:. -~ ur -~-~ fnX~ic DENTAL KOSMETIK WEIMEIZI Cipla Dr.Reddy's ~r- H Kenvue eEncube ~ KRE~OINT Zydus dodlcatr: !ife I! .. ~ ~ 1malava SINCE 1930 MARKS& SPE CER , ~@® INDOCO IUMlOIU LTD. * emam1 Jahwa J:.;lij* H:: TORQUE
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31 Watch our Corporate Video to Gain Valuable Insights into EPL’s Evolution and Impact EPL Limited Q2FY27 Earnings Presentation 31 LinkedIn: https://www.linkedin.com/company/epl-limited Youtube: https://youtu.be/xao65I_xtak?si=N5EluuhcZhQucRK-
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32 About EPL EPL is the largest global specialty packaging company, manufac turing laminated plastic tubes catering to the FMCG and Pharma space. Employing over 6000+ people representing over 23+ different nationalities, EPL functions in 11 countries through 21 state of the art facilities, and is continuing to grow every year. EPL is the world’s largest laminated tube manufacturer with uni ts operating across countries such as USA, Mexico, Colombia, Brazil, Poland, Germany, Egypt, China, Philippines, Thailand and India. These facilities cater to diverse categories that include brands in Oral Care, Beauty & Cosmetics, Pharma & Health, Food, a nd Home, offering customized solutions through continuously pioneering first-in-class innovations in materials, technology and processes. EPL ( Formerly known as Essel Propack Limited) CIN : L74950MH1982PLC028947 For further information contact: Aloke Sharma Aloke.sharma@eplglobal.com 32 EPL Limited Q2FY27 Earnings Presentation
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33 Corporate Office EPL LIMITED Top Floor, Times Tower, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India. Telephone: 022 24819000 Website: https://www.eplglobal.com CIN:L7495MH1982PLC028947 @Epl_limited epl-limited epl_limited Thank You