EPACK Durable Limited has informed the Exchange about the Investor Presentation on the Financial Statements / Results for the Quarter and Financial Year ended March 31, 2026
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EPACK Durable reported FY26 operating revenue of INR 18,945 Mn (down 12.7% YoY) with PAT plummeting 94% to INR 33 Mn due to a one-time INR 324.20 Mn PLI income reversal in Q4. The reversal severely impacted Q4 profitability with PAT at just INR 0.24 Mn vs INR 377 Mn in Q4 FY25. RAC segment declined 33.2% to INR 10,461 Mn due to weather disruption and channel inventory recalibration. However, Components segment surged 102.8% to INR 3,663 Mn, and SDA/LDA grew 34.8% to INR 3,889 Mn, helping diversify revenue mix (non-RAC contribution increased from 20% in FY23 to 42% in FY26). The company received Rajasthan State Incentive approval under RIPS 2024 (INR 217.74 Mn recognized), and plans INR 4,700 Mn strategic capex through Q2 FY27. Net Debt/Equity rose sharply from 0.37x to 0.72x. Management called FY26 a temporary transition year and expects FY27 improvement.
The massive Q4 PAT decline from one-time PLI reversal masks underlying operational weakness in RAC and margin compression. While diversification strategy shows progress with Components and SDA growth, the sharp increase in leverage (Net Debt/Equity at 0.72x) and weak profitability may concern near-term investors despite management's optimistic FY27 outlook.