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EPACK - Epack Durable

📊 NSE: EPACK 🏢 Air-conditioners 📅 Last Updated: 12/13/2025 21:55

📢 Recent Corporate Announcements

EPACK Durable: Delhi HC Remands Customs SCN Matter to CBIC; No Immediate Financial Impact

🟡 NEUTRAL ⭐ 6/10

LEGAL 📅 30 Apr 2026, 12:39 PM

EPACK Durable Limited has provided an update regarding a Show Cause Notice (SCN) from the Noida Customs Commissionerate. The Delhi High Court has remanded the matter to the Central Board of Indirect Taxes and Customs (CBIC) for adjudication rather than passing a final judgment. The company stated that this order is procedural and does not confirm any financial demand at this stage. EPACK is currently evaluating legal options, including a potential appeal to the Supreme Court, and reports no immediate material financial impact.

Delhi High Court remanded the customs Show Cause Notice (SCN) matter to CBIC for adjudication.
The court order is procedural and does not adjudicate upon or confirm any financial demand.
Company is evaluating filing a Special Leave Petition (SLP) before the Supreme Court of India.
Management confirms there is no immediate material financial impact arising from this development.

💡 Investors should treat this as a procedural update in an ongoing legal matter and monitor for the final adjudication by the CBIC. No immediate action is required as the financial liability remains unconfirmed.

EPACK Durable Executive Director & Group CFO Narayan Lodha Resigns Effective April 30, 2026

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 23 Apr 2026, 03:28 PM

EPACK Durable Limited has announced the resignation of Mr. Narayan Lodha from his dual roles as Executive Director and Group CFO. The resignation is effective from the close of business hours on April 30, 2026. Mr. Lodha is leaving to pursue other professional opportunities that align with his long-term career aspirations. As a key managerial person (KMP), his departure necessitates a transition in financial leadership for the company.

Mr. Narayan Lodha resigned as Executive Director and Group CFO effective April 30, 2026.
The announcement was made on April 23, 2026, providing a short transition period of approximately one week.
The reason for resignation is to pursue external professional growth opportunities.
The company will need to appoint a successor to manage financial operations and strategic growth.

💡 Investors should monitor the company's upcoming announcements regarding the appointment of a new CFO to ensure a smooth leadership transition. Any delay in finding a qualified successor for this critical role could impact financial oversight and investor sentiment.

EPACK Durable Promoter Confirms Zero Share Encumbrance for Financial Year

🟢 POSITIVE ⭐ 4/10

ROUTINE 📅 20 Apr 2026, 12:43 PM

Sanjay Singhania, a promoter of EPACK Durable Limited, has filed a formal declaration under Regulation 31(4) of the SEBI Takeover Regulations. The disclosure confirms that the promoter group and persons acting in concert have not created any direct or indirect encumbrance on their shares during the financial year ended March 31. This routine annual filing provides transparency regarding the status of promoter holdings. It ensures that the promoter's stake remains unpledged and free from debt-related liens.

Declaration submitted under Regulation 31(4) and 31(5) of SEBI (SAST) Regulations, 2011
Promoter Sanjay Singhania confirms zero encumbrances on shares held by the promoter group
The disclosure covers the full financial year period ending March 31
Filing submitted to both BSE and NSE on April 2nd

💡 This is a routine compliance filing confirming that promoter shares are not pledged. No immediate action is required, but the lack of encumbrance is a positive sign of promoter financial health.

EPACK Durable Receives ₹37.50 Crore PLI Disbursement for White Goods

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 10 Apr 2026, 07:14 PM

EPACK Durable Limited has successfully received a disbursement of ₹37.50 Crores under the Government of India's Production Linked Incentive (PLI) Scheme for White Goods. This incentive pertains to the company's performance and production targets achieved during the Financial Year 2024-25. The disbursement follows a sanction letter received from IFCI Limited, the nodal agency, on March 30, 2026. This cash inflow is expected to significantly strengthen the company's liquidity and support its manufacturing operations in the consumer durables sector.

Received a total incentive amount of ₹37.50 Crores under the PLI Scheme.
The disbursement is specifically for the White Goods category for FY 2024-25.
The funds were disbursed following a sanction from IFCI Limited, a Government of India undertaking.
The incentive validates the company's successful achievement of production and investment thresholds required by the scheme.

💡 Investors should view this as a positive development that enhances the company's cash flow and net profitability. This non-dilutive capital boost confirms EPACK's strong execution capabilities within the government's manufacturing incentive framework.

EPACK Durable Shareholders Approve Re-appointment of Key Directors with Over 99% Majority

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 30 Mar 2026, 04:38 PM

EPACK Durable Limited has announced the successful passage of five special resolutions via postal ballot for the re-appointment of key leadership positions. Mr. Bajrang Bothra was re-appointed as Whole Time Director, while four Independent Directors were also confirmed for new terms. The resolutions saw high approval ratings, with the Whole Time Director's appointment receiving 99.94% votes in favor. This move ensures management continuity and maintains the current board's oversight as the company pursues its growth strategy.

Mr. Bajrang Bothra re-appointed as Whole Time Director with 99.9476% of votes cast in favor.
Four Independent Directors, including Ms. Priyanka Gulati and Mr. Sameer Bhargava, were re-appointed via Special Resolutions.
Total voting turnout for the resolutions was approximately 60.49% of the total outstanding shares.
Public institutional support was strong, with 99.99% of their votes favoring the re-appointments.

💡 The approval indicates strong shareholder trust and ensures leadership stability; investors should maintain their current outlook on the company's governance.

EPACK Durable Starts Mass Production of Split ACs at Sri City with 0.75M Annual Capacity

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 30 Mar 2026, 03:49 PM

EPACK Durable's wholly owned subsidiary has commenced mass production of Split Air Conditioners at its Sri City, Andhra Pradesh facility as of March 30, 2026. The facility is dedicated to its anchor customer, Hisense, ensuring immediate order visibility and utilization. With an installed capacity of 0.75 million sets per annum, this expansion significantly boosts the company's manufacturing footprint in South India. This operational milestone is expected to contribute positively to the company's revenue growth in the upcoming fiscal year.

Commenced mass production of RAC - Split Air Conditioners (CBU) on March 30, 2026
New manufacturing facility located at Sri City, Andhra Pradesh, with 0.75 million sets annual capacity
Production specifically dedicated to anchor customer Hisense
Facility operated through wholly owned subsidiary EPACK Manufacturing Technologies Private Limited

💡 Investors should view this as a significant growth trigger that expands capacity and strengthens the partnership with a global brand like Hisense. Monitor the facility's ramp-up and its impact on the company's margins in the next few quarters.

EPACK Durable Receives ₹37.50 Crore PLI Incentive Sanction for FY 2024-25

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 30 Mar 2026, 02:49 PM

EPACK Durable Limited has received its third sanction letter under the Production Linked Incentive (PLI) Scheme for White Goods for the financial year 2024-25. The approved incentive amount stands at ₹37.50 Crores, sanctioned by IFCI Limited, a Government of India undertaking. This incentive is directly linked to the company's incremental sales and capital investments in the white goods manufacturing sector. The inflow is expected to significantly bolster the company's profitability, improve cash flow, and support its ongoing operational expansion.

Approved incentive amount of ₹37.50 Crores under the PLI Scheme for White Goods.
Sanction received from IFCI Limited for the financial year 2024-25.
Incentive is based on achieving specific incremental sales and investment targets.
Funds are expected to enhance net profitability and support further capacity expansion.
This marks the 3rd sanction letter received by the company under this government scheme.

💡 Investors should view this as a positive development that validates the company's execution of its growth strategy and capital expenditure. The incentive will provide a meaningful boost to the bottom line and should be factored into future margin expectations.

EPACK Durable Limited Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Mar 2026, 05:39 PM

EPACK Durable Limited has informed the stock exchanges that its trading window will be closed starting April 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the announcement of the audited standalone and consolidated financial results for the quarter and financial year ending March 31, 2026. The window will remain closed for all Designated Persons and their immediate relatives until 48 hours after the results are declared. The specific date for the board meeting to approve these results will be announced in due course.

Trading window closure effective from April 1, 2026.
Closure pertains to the audited financial results for the quarter and year ending March 31, 2026.
Restriction applies to Designated Persons and their immediate relatives as per SEBI guidelines.
Trading window to reopen 48 hours after the financial results become generally available.

💡 This is a routine regulatory filing with no direct impact on company fundamentals. Investors should monitor for the upcoming board meeting date to assess the company's Q4 and FY26 financial performance.

EPACK Durable Receives ₹29.03 Crore Income Tax Demand for AY 2023-24

🔴 NEGATIVE ⭐ 6/10

REGULATORY 📅 23 Mar 2026, 05:15 PM

EPACK Durable Limited has been served an assessment order by the Income Tax Department for the Assessment Year 2023-24 (FY 2022-23). The order includes additions to taxable income totaling ₹18.89 Crores, leading to a total tax demand of ₹29.03 Crores. The company intends to contest this demand through a rectification application and an appeal before the Commissioner of Income Tax (Appeals). Management believes the demand is unsustainable and has strong grounds to challenge the assessment.

Assessment order received under Section 144 read with section 144B of the Income Tax Act, 1961.
Additions to taxable income aggregating to ₹18.89 Crores made by the Assessing Officer.
Total financial implication involves a tax demand of ₹29.03 Crores.
Company is filing for rectification and an appeal before the Commissioner of Income Tax (Appeals).
The dispute pertains to the Assessment Year 2023-24 (Financial Year 2022-23).

💡 Investors should monitor the outcome of the appeal process as the demand represents a significant potential cash outflow. While the company is contesting the order, any unfavorable final ruling could impact the bottom line for the relevant period.

EPACK Durable: Company Secretary Jyoti Verma Resigns Effective March 23, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 12 Mar 2026, 05:23 PM

EPACK Durable Limited has announced the resignation of Ms. Jyoti Verma, who served as the Company Secretary and Compliance Officer (KMP). The resignation was tendered on February 24, 2026, with the official last working day set for March 23, 2026. The company clarified that a one-month notice period was applied as per her employment agreement dated February 12, 2025, despite the employee's initial suggestion of a longer tenure. This is a standard transition in the compliance department, and the company will need to appoint a successor to fulfill statutory requirements.

Ms. Jyoti Verma resigned as Company Secretary and Compliance Officer effective March 23, 2026.
The resignation was submitted on February 24, 2026, citing career growth and other opportunities.
The company enforced a 1-month notice period based on the employment agreement from February 2025.
The role is classified as Key Managerial Personnel (KMP) under SEBI Listing Regulations.

💡 This is a routine administrative change and should not impact business fundamentals. Investors should monitor for the appointment of a new Compliance Officer to ensure continued adherence to regulatory standards.

EPACK Durable Reports Gas Supply Constraints; Temporarily Halts West Asia Production

🔵 WATCH ⭐ 6/10

OTHER 📅 11 Mar 2026, 03:20 PM

EPACK Durable Limited has been notified by its gas suppliers of potential supply constraints due to ongoing geopolitical conflicts in the Middle East. As a precautionary measure, the company has temporarily suspended production specifically catering to the West Asia market. Despite this disruption, management currently anticipates no material impact on the company's overall operations. The company is actively monitoring the situation and evaluating alternative arrangements to ensure manufacturing continuity across its various plant locations.

Gas supply constraints reported due to geopolitical developments in the Middle East region.
Temporary suspension of production lines specifically dedicated to the West Asia market.
Management currently expects no material impact on the company's overall consolidated operations.
Company is evaluating alternative supply arrangements to mitigate risks to manufacturing continuity.

💡 Investors should monitor the duration of the production halt and whether supply constraints spread to domestic operations. While the impact is currently deemed non-material, any prolonged disruption or shift to more expensive fuel alternatives could affect margins.

EPACK Durable Seeks Shareholder Approval for Re-appointment of Five Key Directors

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 25 Feb 2026, 02:20 PM

EPACK Durable Limited has issued a postal ballot notice to seek shareholder approval for the re-appointment of several key board members. The company proposes re-appointing Mr. Bajrang Bothra as a Whole Time Director for a five-year term starting June 13, 2026. Additionally, four Independent Directors, including Ms. Priyanka Gulati and Mr. Krishnamachari Narasimhachari, are proposed for second terms of three years each. The e-voting period for these special resolutions is scheduled to run from February 26 to March 27, 2026.

Proposed re-appointment of Mr. Bajrang Bothra as Whole Time Director for a 5-year term until June 2031.
Four Independent Directors proposed for second terms of 3 consecutive years starting July 29, 2026.
Remote e-voting facility to be open from February 26, 2026, to March 27, 2026.
Final results of the postal ballot and scrutinizer's report to be announced by March 30, 2026.

💡 Investors should monitor the voting results to ensure leadership continuity and may participate in the e-voting process to express their stance on the board's composition.

EPACK Durable Commissions $30M Manufacturing Facility for Hisense in Sri City

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 10 Feb 2026, 03:50 PM

EPACK Durable's wholly owned subsidiary has inaugurated a new 10-acre manufacturing facility in Sri City, Andhra Pradesh, dedicated to global brand Hisense. The project involves a USD 30 million investment and will initially produce 0.75 million Room Air Conditioners (RAC) annually starting February 2026. The facility is set to expand into washing machines and LED TVs by the third quarter of FY27, significantly diversifying EPACK's product portfolio. This partnership marks Hisense's first manufacturing footprint in India, positioning EPACK as a critical ODM partner for global brands.

Commissioned a 10-acre facility in Sri City with a total investment of approximately USD 30 million.
Initial annual production capacity of 0.75 million Room Air Conditioners (RAC) for Hisense India.
Phased expansion into washing machines (Q2 FY27) and LED televisions (Q3 FY27).
Projected to create employment for 2,000 people over the next 12-24 months.
Financed through a combination of debt and internal accruals to support business growth.

💡 Investors should monitor the successful ramp-up of the RAC production in early 2026 and the timely execution of Phase 2 and 3 expansions. This development strengthens EPACK's long-term revenue visibility and its competitive standing in the Indian ODM market.

EPACK Durable Commissions $30M Sri City Plant; Partners with Hisense for RAC Production

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 10 Feb 2026, 03:45 PM

EPACK Durable's wholly-owned subsidiary has inaugurated a new 10-acre manufacturing facility in Sri City, Andhra Pradesh, representing a $30 million investment. This facility marks a strategic partnership with global brand Hisense, serving as their first manufacturing footprint in India. The plant will initially produce 0.75 million Room Air Conditioners annually, with commercial production starting in February 2026. Future phases include expanding into washing machines and LED televisions by the end of 2026, significantly diversifying EPACK's ODM portfolio.

Investment of approximately USD 30 million funded via debt and internal accruals.
Initial annual capacity of 0.75 million Room Air Conditioners (RAC) to be added by FY27.
Phased expansion into Washing Machines (Q2 FY27) and LED TVs (Q3 FY27).
Strategic tie-up with Hisense to cater to 100% of their Indian RAC requirements.
Expected to create total employment for 2,000 resources over the next 12-24 months.

💡 Investors should monitor the execution of Phase 2 and 3 expansions as they represent a significant diversification into higher-margin electronics. The partnership with a global player like Hisense provides strong revenue visibility for the upcoming fiscal years.

EPACK Durable Receives INR 7.36 Crore Incentive Under M-SIPS Scheme

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 06 Feb 2026, 06:10 PM

EPACK Durable Limited has received the Phase III incentive amounting to INR 7.36 Crore under the Modified Special Incentive Package Scheme (M-SIPS). This incentive, granted by the Ministry of IT & Electronics, Government of India, is designed to promote domestic electronics manufacturing. The payment is a result of the company's capital expenditure investments in setting up electronic manufacturing units. This cash inflow supports the company's financial position and reinforces its commitment to the 'Make in India' initiative.

Received Phase III incentive of INR 7.36 Crore under the M-SIPS scheme.
Incentive provided by the Ministry of IT & Electronics for capital expenditure investments.
The scheme supports the establishment of electronic manufacturing units in India.
The receipt of funds aligns with the company's participation in 'Make in India' and 'Atmanirbhar Bharat' programs.

💡 Investors should view this as a positive liquidity event that validates the company's manufacturing strategy. Monitor how such government incentives contribute to overall margin expansion in future earnings cycles.

View All EPACK Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 52.9% YoY to INR 2,170.9 Cr in FY25. Segment contributions are RAC (56%), Small Domestic Appliances (19%), Components (16%), and Large Domestic Appliances (2%). However, H1 FY26 saw a 23.9% YoY decline to INR 875.7 Cr, with the RAC segment contracting 76% QoQ in Q2 FY26 due to unseasonal rains and GST implementation delays.

Geographic Revenue Split

Manufacturing is concentrated in Dehradun, Bhiwadi, and Sri City. The company recently incorporated EPACK Durable Global Sales LLC-FZ in the UAE to target the Middle East and Africa (MEA) export markets, though specific regional percentage splits are not disclosed.

Profitability Margins

Net Profit Margin improved slightly from 2.49% in FY24 to 2.54% in FY25. However, H1 FY26 PAT margin collapsed to 0.07% from 1.29% YoY, with a net loss of INR 22.2 Cr in Q2 FY26 due to high fixed costs and seasonal revenue decline.

EBITDA Margin

EBITDA margin was 7.26% in FY25, a decrease of 93 bps from 8.19% in FY24. H1 FY26 EBITDA margin stood at 6.44%, up 110 bps YoY despite lower volumes, aided by better product mix and cost efficiencies.

Capital Expenditure

Planned strategic capital expenditure of INR 450 Cr to INR 500 Cr to be completed by Q1 FY27. In Q2 FY26 alone, the company incurred INR 129 Cr primarily for capacity expansion and equipment installation at new facilities.

Credit Rating & Borrowing

ICRA maintains a credit rating that factors in moderate operating margins and seasonality. Interest costs rose 38.5% YoY to INR 53.9 Cr in FY25, reflecting increased borrowing for capacity expansion.

⚙️ Operational Drivers

Raw Materials

Key materials include Copper Parts, PCBs (Printed Circuit Boards), Plastic Molding Components, and Cross Flow Fans (CFFs). Raw material costs represent approximately 92.7% of total expenses based on FY25 figures.

Import Sources

The company is actively pursuing backward integration to reduce reliance on imports, particularly from China and Thailand, which are now restricted by BIS certifications.

Key Suppliers

Not specifically named in the documents, but the company manages a 'diverse pool of suppliers' and enters into long-term sourcing arrangements to mitigate price volatility.

Capacity Expansion

Current RAC capacity is 3 million units. Planned expansion includes the Sri City facility for Hisense and ramping up SDA/LDA lines to cater to market demand for FY27 and onwards.

Raw Material Costs

Raw material and component costs increased in line with the 53% revenue growth in FY25. The company uses pass-through clauses with key clients to mitigate commodity price hikes, though lags in price revisions can impact short-term profits.

Manufacturing Efficiency

The company is the 2nd largest ODM for Room Air Conditioners in India. Efficiency is driven by high backward integration, producing key components in-house to maintain a cost advantage over competitors.

📈 Strategic Growth

Expected Growth Rate

25-30%

Growth Strategy

Growth will be driven by diversifying into Small Domestic Appliances (SDA) and Large Domestic Appliances (LDA), adding 15 new customers in the SDA segment, and executing a 'Strategic Cooperation Agreement' with Hisense through the new EMTPL subsidiary. The INR 500 Cr capex will double down on component manufacturing for external sale.

Products & Services

Room Air Conditioners (RAC), Air Fryers, Mixer Grinders, Nutri Blenders, Infrared Cooktops, Vacuum Cleaners, Coffee Makers, and Washing Machines.

Brand Portfolio

EPACK Durable (ODM/OEM), Epavo (JV for motors), Bumjin (Audio products JV).

New Products/Services

Launched Air Fryers, Vacuum Cleaners, and Coffee Makers in Q2 FY26. New product lines in the SDA segment are expected to be a major growth lever for FY27.

Market Expansion

Expanding into the MEA (Middle East & Africa) market via a new UAE entity and increasing domestic footprint through the Sri City facility.

Market Share & Ranking

Ranked as the 2nd largest Room Air Conditioner ODM in India.

Strategic Alliances

50:50 JV with Ram Ratna Group (Epavo Electricals) for induction motors; Strategic Cooperation Agreement with Hisense; JV with Bumjin for audio products.

🌍 External Factors

Industry Trends

The industry is shifting toward domestic value addition fueled by the PLI scheme and BIS certifications. The RAC market is evolving from seasonal to year-round demand, though weather remains a primary driver.

Competitive Landscape

Stiff competition from other OEMs/ODMs; however, EPACK's scale as the #2 player provides volume-based cost efficiencies.

Competitive Moat

Moat is built on 'Advanced Vertically Integrated Manufacturing' and long-standing relationships with top-tier brands. This is sustainable because high capital requirements and technical certifications (BIS) create high entry barriers.

Macro Economic Sensitivity

Highly sensitive to consumer spending power and interest rates which affect big-ticket purchases like RACs and Washing Machines.

Consumer Behavior

Shift toward premium and smart appliances; growing demand for Small Domestic Appliances (SDA) like Air Fryers and Nutri Blenders.

Geopolitical Risks

Trade barriers on imports from China and Thailand due to BIS norms provide a competitive advantage to EPACK as a domestic manufacturer.

⚖️ Regulatory & Governance

Industry Regulations

Mandatory BIS (Bureau of Indian Standards) certification for RACs, SDAs, and LDAs. Participation in the Production Linked Incentive (PLI) scheme for RACs and components requires meeting specific investment and incremental sale targets.

Environmental Compliance

Not specifically disclosed in INR, but the company must comply with manufacturing standards for consumer durables.

Taxation Policy Impact

Effective tax rate was approximately 25.9% in FY25 (INR 19.3 Cr tax on INR 74.4 Cr PBT).

⚠️ Risk Analysis

Key Uncertainties

Seasonality of the RAC business (80-85% revenue exposure) and volatility in commodity prices (Copper/Aluminum) which can impact margins by 1-2% if not passed through immediately.