Engro Polymer & Chemicals (KAR:EPCL) Debt-to-Equity: 2.35 (As of Mar. 2026) — 104% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

KAR:EPCL Engro Polymer & Chemicals Ltd KAR:EPCL
56 GF Score
Price ₨34.87
GF Value ₨46.17
Valuation Modestly Undervalued
! 10 Warning Signs
View Full Analysis

What is Engro Polymer & Chemicals Debt-to-Equity?

Engro Polymer & Chemicals KAR:EPCL -1.33% 56 Debt-to-Equity is 2.35 as of Mar. 2026, which is 104% above its 10-year median of 1.15. GuruFocus rates KAR:EPCL with a GF Score™ of 56/100 and a GF Value™ of ₨46.17 (Modestly Undervalued). The stock has 10 warning signs investors should review. Among 1,421 Chemicals companies, Engro Polymer & Chemicals ranks worse than 96.41% on this metric.

Engro Polymer & Chemicals's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was ₨3,953 Mil. Engro Polymer & Chemicals's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was ₨51,782 Mil. Engro Polymer & Chemicals's Total Stockholders Equity for the quarter that ended in Mar. 2026 was ₨23,770 Mil. Engro Polymer & Chemicals's debt to equity for the quarter that ended in Mar. 2026 was 2.34.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Engro Polymer & Chemicals's Debt-to-Equity or its related term are showing as below:

KAR:EPCL' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.45   Med: 1.15   Max: 2.41
Current: 2.35

During the past 13 years, the highest Debt-to-Equity Ratio of Engro Polymer & Chemicals was 2.41. The lowest was 0.45. And the median was 1.15.

KAR:EPCL's Debt-to-Equity is ranked worse than
96.41% of 1421 companies
in the Chemicals industry
Industry Median: 0.36 vs KAR:EPCL: 2.35

Engro Polymer & Chemicals  (KAR:EPCL) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.


Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.


Engro Polymer & Chemicals Debt-to-Equity Related Terms


Engro Polymer & Chemicals Debt-to-Equity Historical Data

* Premium members only.

The historical data trend for Engro Polymer & Chemicals's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Engro Polymer & Chemicals Debt-to-Equity Chart

Engro Polymer & Chemicals Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Debt-to-Equity
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.86 1.07 1.23 1.59 2.41

Engro Polymer & Chemicals Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Debt-to-Equity Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.76 1.79 1.86 2.41 2.35

KAR:EPCL vs LIN, SHW, ECL: Debt-to-Equity Comparison

For the Specialty Chemicals subindustry, Engro Polymer & Chemicals's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Engro Polymer & Chemicals Debt-to-Equity vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Engro Polymer & Chemicals's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Engro Polymer & Chemicals's Debt-to-Equity falls into.


KAR:EPCL
56GF Score
Engro Polymer & Chemicals Ltd KAR:EPCL
Debt-to-Equity is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Engro Polymer & Chemicals Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Engro Polymer & Chemicals's Debt to Equity Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Engro Polymer & Chemicals's Debt to Equity Ratio for the quarter that ended in Mar. 2026 is calculated as

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Debt-to-Equity →
What does a Debt-to-Equity of 2.35 mean?
Engro Polymer & Chemicals (KAR:EPCL) has a Debt-to-Equity of 2.35 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Engro Polymer & Chemicals and its competitors. This is 104% above median its historical median of 1.15. Over the past decade, Engro Polymer & Chemicals' Debt-to-Equity has ranged from 0.45 to 2.41. According to the industry distribution chart, Engro Polymer & Chemicals ranks #1370 out of 1421 companies in the Chemicals industry, placing it in the top 96.4%.
Is Engro Polymer & Chemicals' Debt-to-Equity too high?
Engro Polymer & Chemicals' current Debt-to-Equity of 2.35 is 104% above median its 10-year median of 1.15. Over the past 10 years, this metric has ranged from a low of 0.45 to a high of 2.41. The Chemicals industry median Debt-to-Equity is 0.36. Engro Polymer & Chemicals' value of 2.35 is 552.8% above this industry median. Based on the distribution chart, Engro Polymer & Chemicals ranks #1370 out of 1421 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Engro Polymer & Chemicals has a GF Score™ of 56/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Engro Polymer & Chemicals' Debt-to-Equity compare to LIN and SHW?
According to the Chemicals industry distribution chart, Engro Polymer & Chemicals ranks #1370 out of 1421 companies for Debt-to-Equity. This places Engro Polymer & Chemicals in the lower half of its industry. The industry median Debt-to-Equity is 0.36. Engro Polymer & Chemicals' value of 2.35 is 552.8% above this benchmark. Historically, Engro Polymer & Chemicals' own Debt-to-Equity has ranged from 0.45 to 2.41 over the past decade. While the company's 10-year median is 1.15 vs. the industry median of 0.36, Engro Polymer & Chemicals has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Chemicals company?
The median Debt-to-Equity among Chemicals companies is 0.36, based on 1,421 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Engro Polymer & Chemicals's current Debt-to-Equity of 2.35 is 552.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Engro Polymer & Chemicals and its competitors. For the Chemicals industry, the median Debt-to-Equity is 0.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Engro Polymer & Chemicals's current Debt-to-Equity is 2.35, which is 104% above median its own 10-year median of 1.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Engro Polymer & Chemicals stock overvalued right now?
Based on GuruFocus' analysis, Engro Polymer & Chemicals (KAR:EPCL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₨46.17, compared to a current price of ₨34.87 — trading 24.5% below its estimated fair value. The current Debt-to-Equity is 2.35, which is 104% above median its 10-year median of 1.15 and 552.8% above the Chemicals industry median of 0.36. Engro Polymer & Chemicals' overall GF Score™ is 56/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Engro Polymer & Chemicals (KAR:EPCL), the current Debt-to-Equity is 2.35 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Engro Polymer & Chemicals (KAR:EPCL) Overvalued in 2026?

Based on GuruFocus' analysis, Engro Polymer & Chemicals stock appears to be undervalued. The current stock price of ₨34.87 is trading 24.5% below its estimated GF Value™ of ₨46.17. GuruFocus considers Engro Polymer & Chemicals to be Modestly Undervalued.

Key valuation signals for KAR:EPCL:

  • Debt-to-Equity: 2.35 (104% above median its 10-year median of 1.15)
  • GF Value™: ₨46.17 vs. price of ₨34.87 (24.5% below fair value)
  • GF Score™: 56/100 with 10 warning signs
  • Industry Position: 552.8% above the Chemicals median (#1370 of 1421)

No single metric tells the full story. See the KAR:EPCL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Engro Polymer & Chemicals Business Description

Other Exchanges EPCLPS.PFD:Pakistan
Address Marine Drive, 8th Floor, The Harbour Front Building, HC No 3, Marine Drive, Block 4, Clifton, Karachi, SD, PAK, 75600
Engro Polymer & Chemicals Ltd is mainly engaged in the production and distribution of chlor-vinyl products, including Polyvinyl Chloride (PVC), caustic soda, hydrogen peroxide, and other industrial chemicals such as hydrochloric acid and sodium hypochlorite. The Company operates through multiple segments, with the Poly Vinyl Chloride (PVC) segment generating the highest revenue by supplying products to industries such as pipes, footwear, and packaging across Pakistan and exporting mainly to Asia. Its Caustic Soda and Allied Chemicals segment serves textile and soap industries, while the Hydrogen Peroxide segment mainly caters to the textile sector, and the Power Supplies segment supplies surplus power generated from its power plants.
56GF Score

Get the complete analysis for KAR:EPCL

Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₨34.87
Price
₨46.17
GF Value