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EPACK - Epack Durable

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

📢 Recent Corporate Announcements

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.

EPACK Durable to Participate in Two Investor Conferences in Mumbai

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Feb 2026, 12:31 PM

EPACK Durable Limited has scheduled its participation in two major investor conferences in February 2026. Mr. Narayan Lodha, the Executive Director & Group CFO, will represent the company at the Manthan - Systematix India Annual Flagship Conference on February 9 and Axis Capital's Flagship India Conference on February 10. Both events will involve group meetings held in Mumbai. The company has explicitly stated that no unpublished price sensitive information will be shared during these interactions.

Participation in Manthan - Systematix India Annual Flagship Conference on February 9, 2026
Participation in Axis Capital's Flagship India Conference on February 10, 2026
Company to be represented by Executive Director & Group CFO, Mr. Narayan Lodha
Meetings scheduled as group interactions at Taj Santacruz and Hotel Trident, BKC, Mumbai

💡 No immediate action is required as this is a routine investor relations update. Investors should watch for any investor presentations filed post-conference for updates on business outlook.

EPACK Durable Q3 FY26 Revenue Up 13.5% to ₹427.8 Cr; EBITDA Margins Expand to 7.41%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 28 Jan 2026, 11:27 AM

EPACK Durable reported a resilient Q3 FY26 with revenue growing 13.5% YoY to ₹427.8 crores, driven by a strategic shift toward non-AC segments. While the core Room Air Conditioner business saw a marginal 1% decline, the Components and Large Domestic Appliances segments surged by 61% and 74% respectively. EBITDA grew 31.5% YoY to ₹31.7 crores with margins expanding by 102 basis points, though net profit growth was limited to 4% due to higher depreciation and finance costs from recent capex. The company's diversification strategy is yielding results, with RAC now contributing less than 60% of total revenue.

Revenue from operations increased 13.5% YoY to ₹427.8 crores in Q3 FY26.
EBITDA margins improved significantly to 7.41% from 6.39% in the previous year.
Components segment and Large Domestic Appliances grew by 61% and 74% YoY respectively.
Incurred ₹44 crores in capital expenditure during Q3 for capacity expansion at Sricity and Bhiwadi.
Total customer base reached 67, including two new customer additions during the quarter.

💡 Investors should focus on the company's successful transition from a seasonal AC manufacturer to a diversified electronics player, which is stabilizing margins. Monitor the impact of new BEE norms on Q4 volumes and the ramp-up of the Hisense JV facility for long-term growth.

EPACK Durable Releases Audio Recording for Q3FY26 Earnings Conference Call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 21 Jan 2026, 07:09 PM

EPACK Durable Limited has officially released the audio recording of its investor conference call held for the Q3FY26 financial results. The call, which took place following the announcement of unaudited standalone and consolidated results for the quarter ended December 31, 2025, is now accessible on the company's website. This disclosure is a routine regulatory requirement under SEBI (LODR) Regulations, 2015. Investors can utilize this recording to understand management's perspective on the company's performance and future strategy.

Audio recording of the Q3FY26 earnings call uploaded on January 21, 2026
Covers financial performance for the quarter and nine months ended December 31, 2025
Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Direct access link provided for transparency: https://epackdurable.com/wp-content/uploads/2026/01/10039334.mp3

💡 Investors should listen to the recording to gain deeper insights into management's commentary on demand trends and margin outlook. No immediate trading action is required as this is a standard administrative disclosure.

EPACK Durable Q3 Net Profit Rises Marginally to ₹2.59 Cr; Auditor Issues Qualification

🔵 WATCH ⭐ 8/10

EARNINGS 📅 21 Jan 2026, 06:17 PM

EPACK Durable reported a 13.5% YoY increase in Q3 FY26 revenue to ₹427.75 crore, while net profit saw a marginal uptick to ₹2.59 crore. However, the nine-month (9M) performance remains weak, with net profit plunging to ₹3.23 crore from ₹17.42 crore in the previous year. A significant concern is the auditor's qualified opinion regarding ₹19.61 crore in disputed trade receivables for which no provision has been made. The board also approved the re-appointment of the Whole Time Director and four Independent Directors for new terms starting in 2026.

Q3 FY26 revenue from operations grew 13.5% YoY to ₹427.75 crore.
Net profit for the quarter stood at ₹2.59 crore compared to ₹2.51 crore in Q3 FY25.
9M FY26 net profit dropped significantly to ₹3.23 crore from ₹17.42 crore YoY.
Auditor issued a qualified conclusion regarding ₹1,961 lakhs in disputed trade receivables.
Board approved re-appointment of Bajrang Bothra as Whole Time Director for 5 years from June 2026.

💡 Investors should exercise caution due to the auditor's qualification on receivables and the sharp decline in 9-month profitability. Monitor the company's ability to recover the disputed ₹19.61 crore and the performance of its newly incorporated subsidiaries.

EPACK Durable Q3 FY26: Revenue Up 13.5% YoY; Component Segment Surges 158%

🔵 WATCH ⭐ 8/10

EARNINGS 📅 20 Jan 2026, 08:53 PM

EPACK Durable reported a 13.5% YoY increase in Q3 FY26 revenue to INR 4,278 million, showing recovery despite a 14.7% decline in 9M FY26 revenue caused by RAC segment headwinds. The company is successfully diversifying its portfolio, with RAC revenue contribution dropping from 80% in FY23 to 57% in 9M FY26, while the high-margin components segment grew by 158.4% YoY. Strategic initiatives, including a $1 billion revenue partnership with Hisense and a JV with Ram Ratna Group, are set to drive long-term growth. Customer concentration risk has also improved significantly, with top 2 customer dependency falling from 72% in FY23 to 38% in 9M FY26.

Q3 FY26 revenue grew 13.5% YoY to INR 4,278 Mn, while 9M FY26 EBITDA margin stood at 6.76%.
Component segment revenue skyrocketed 158.4% YoY in 9M FY26 to INR 2,270 Mn, driven by backward integration.
RAC business dependency reduced to 57% of revenue in 9M FY26 from 80% in FY23, indicating successful diversification.
Strategic Hisense partnership projected to add $1 billion in incremental revenue over the next five years.
Top 2 customer dependency significantly reduced from 72% in FY23 to 38% in 9M FY26, improving business stability.

💡 Investors should focus on the company's transition from a pure RAC player to a diversified electronics manufacturer, particularly the ramp-up of the Hisense deal and the new EPAVO facility. The significant growth in the components segment and reduced customer concentration are positive indicators for long-term margin stability.

EPACK Durable Q3 Results: Revenue Up 13.5% to ₹4,278 Mn, EBITDA Surges 31.5%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 20 Jan 2026, 08:41 PM

EPACK Durable reported a solid Q3 FY26 with consolidated revenue growing 13.5% YoY to INR 4,278 million. While the core Room Air Conditioner (RAC) segment saw a marginal 1% decline, the company's diversification strategy yielded significant growth in Small Domestic Appliances (30%), Components (61%), and Large Domestic Appliances (74%) segments. EBITDA margins improved by 102 basis points to 7.41%, reflecting better execution and product mix. The company added two new customers and is progressing with its Sri City Hisense plant expansion to drive future growth.

Consolidated Revenue grew 13.5% YoY to INR 4,278 Mn for Q3 FY26
EBITDA increased by 31.5% YoY to INR 317 Mn with margins expanding 102 bps to 7.41%
Component and LDA segments showed explosive growth of 61% and 74% YoY respectively
SDA segment grew 30% YoY, driven by strong demand for air fryers and new product launches
Added 2 new customers during the quarter with supplies already commenced

💡 The company is successfully reducing its seasonal dependence on RACs through high-growth verticals like Components and LDAs. Investors should monitor the ramp-up of the Sri City Hisense plant and the sustainability of margin expansion as the product mix evolves.

EPACK Durable Approves Q3 FY26 Results and Re-appoints Key Board Members

🟡 NEUTRAL ⭐ 7/10

BOARD_MEETING 📅 20 Jan 2026, 08:05 PM

EPACK Durable Limited held a board meeting on January 20, 2026, to approve financial results for the quarter and nine months ending December 31, 2025. The board proposed the re-appointment of Chairman Bajrang Bothra as Whole Time Director for a five-year term starting June 2026. Furthermore, four independent directors were re-appointed for a second term of three years each, effective July 2026. These leadership decisions aim to maintain management stability and are subject to shareholder approval.

Approved Unaudited Standalone and Consolidated Financial Results for Q3 and 9M ended Dec 31, 2025
Re-appointed Mr. Bajrang Bothra as Whole Time Director for a 5-year term (June 2026 to June 2031)
Re-appointed 4 Independent Directors for second terms of 3 years each starting July 29, 2026
Board composition remains stable with experts from banking, manufacturing, and consulting sectors
All re-appointments are subject to the final approval of the company members

💡 Investors should review the detailed financial performance figures once published to assess the company's growth trajectory. The continuity in the board is a positive sign for long-term strategic stability.

EPACK Durable Schedules Q3FY26 Earnings Conference Call for January 21, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 14 Jan 2026, 04:21 PM

EPACK Durable Limited has scheduled a conference call for analysts and institutional investors on January 21, 2026, at 10:00 A.M. IST to discuss its Q3FY26 financial results. The call will cover both standalone and consolidated unaudited financial performance for the quarter ending December 2025. Senior management, including the Chairman, MD & CEO, and CFO, will be present to address queries. This is a routine regulatory disclosure following the conclusion of the third quarter.

Conference call scheduled for January 21, 2026, at 10:00 A.M. IST regarding Q3FY26 results.
Management participants include Chairman Bajrang Bothra, MD & CEO Ajay DD Singhania, and Group CFO Narayan Lodha.
The call is hosted by DAM Capital Advisors Ltd with universal access numbers +91 22 6280 1384 and +91 22 7115 8285.
Discussion will focus on standalone and consolidated unaudited financial results for the quarter.

💡 Investors should attend or review the transcript of the call to understand management's commentary on demand trends and margin performance in the consumer durables segment. Key focus areas should include updates on manufacturing capacity utilization and the outlook for the upcoming summer season.

EPACK Durable Submits Routine SEBI Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jan 2026, 10:42 AM

EPACK Durable Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, confirms the processing of dematerialization and rematerialization requests for the quarter ended December 31, 2025. This is a standard regulatory requirement for all listed companies to ensure the integrity of electronic shareholding records. The filing indicates that the company is maintaining its administrative compliance obligations on schedule.

Compliance certificate submitted for the quarter ended December 31, 2025
Issued by KFin Technologies Limited, the company's Registrar and Share Transfer Agent
Confirms that details of dematerialized securities have been furnished to depositories and stock exchanges
Ensures adherence to SEBI (Depositories and Participants) Regulations, 2018

💡 No action is required from investors as this is a routine administrative filing. Focus should remain on the company's upcoming quarterly financial performance and growth outlook.

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.