NSE: EPACK · BSE: 544095
EPACK DURABLE LIMITED
Manufactures room air conditioners, small and large domestic appliances, and appliance components on a contract basis for appliance brands in India. FY26 revenue of Rs 1,894 crore was split across three reported segments: Room Air Conditioners at Rs 10,461 Mn (down 33.2% YoY on weaker summer demand, channel inventory recalibration and BEE norm transition), Components at Rs 3,663 Mn (up 102.8% YoY), and Small & Large Domestic Appliances at Rs 3,889 Mn (up 34.8% YoY, driven by air fryer demand). The business operates five manufacturing locations and added 17 new customers in FY26, taking the active customer base to 72 brands, with top-2 customer concentration having fallen from 72% to 37%. A joint venture with Hisense at Sri City became operational in late March 2026 with 0.75 million unit washing-machine capacity, with front-load production targeted for mid-Q2 FY27. The Andhra Pradesh government has approved a tailored incentive package covering a combined Rs 1,084.31 crore investment in air conditioners, components, washing machines, TVs and other appliances at Sri City, with 36.41 acres of land allotted and a 50% capital subsidy on eligible fixed capital. Materials account for 83.6% of revenue, leaving employee costs at 3.7% and other operating expenses at 5.4% as the remaining operating cost lines. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Room Air Conditioners (RAC), Small & Large Domestic Appliances (SDA & LDA), Components. Asset-heavy OEM contract manufacturer in consumer durables, exposed to RAC demand cycles
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 1,420 | 2,171 | 1,894 |
| EBITDA (ex other income) | 116 | 158 | 114 |
| margin % | 8.2 | 7.3 | 6.0 |
| Owners' profit | 35 | 55 | 3 |
| EPS, as reported (₹) | 4.35 | 5.75 | 0.34 |
| ROE % · ROCE % | 4.0 · 8.8 | 5.8 · 12.6 | 0.3 · 6.4 |
| Debt / equity (x) | 0.37 | 0.39 | 0.74 |
| Cash from operations | 257 | 31 | (140) |
| Capex | (157) | (115) | (316) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 377 | 377 | 643 | 662 | 213 | 428 | 591 | 886 |
| Profit before tax | (11) | 4 | 51 | 32 | (27) | 7 | 3 | 20 |
| Net profit | (8) | 3 | 38 | 23 | (22) | 3 | 0 | 12 |
| EPS (₹) | (0.89) | 0.26 | 3.93 | 2.39 | (2.32) | 0.27 | 0.00 | 1.23 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LG ELECTRONICS INDIA LTD | 1,13,694 | 62.3 | 14.83 | — | 22.0 | 27.2 | — | 13.8 |
| BLUE STAR LIMITED | 31,375 | 61.6 | 9.14 | 33.2 | 15.4 | 18.9 | 23.8 | 6.1 |
| VOLTAS LTD | 31,300 | 69.7 | 4.89 | 36.7 | 5.8 | 9.9 | 13.8 | 7.6 |
| AMBER ENTERPRISES (I) LTD | 21,267 | 221.0 | 3.67 | 23.0 | 3.9 | 5.3 | 32.1 | 6.1 |
| CROMPT GREA CON ELEC LTD | 12,637 | — | 3.68 | 91.4 | (6.7) | (2.1) | 11.0 | 11.0 |
| V-GUARD IND LTD. | 11,578 | 31.9 | 4.88 | 21.9 | 13.0 | 15.5 | 17.0 | 11.2 |
| WHIRLPOOL OF INDIA LTD | 10,633 | 42.4 | 2.56 | 15.4 | 7.1 | 8.1 | 6.4 | 7.6 |
| TTK PRESTIGE LTD | 7,397 | 38.3 | 3.75 | 23.5 | 7.9 | 10.2 | 6.3 | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 1.7 | 4.3 | 3 of 23 | 91% |
| ROCE | 1.3 | 9.4 | 20 of 24 | 17% |
| ROE | 0.3 | 7.1 | 19 of 23 | 18% |
| Debt / Equity | 0.7 | 0.0 | 21 of 23 | 9% |
| EBITDA margin | 6.4 | 7.6 | 15 of 23 | 36% |
| Revenue growth | 33.8 | 15.4 | 3 of 22 | 91% |
| Profit growth | (48.4) | 38.1 | 18 of 21 | 15% |
| Market cap | 1617 | 3661 | 17 of 24 | 30% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · EPACK Durable schedules Q2 FY27 analyst and investor call | board shareholder meetings | low | — | — |
| 23 Oct 2026 · Board Meeting to Approve Unaudited Financial Results | results | low | — | — |
| 13 Oct 2026 · Reg 74(5) demat/remat certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 FY26 results | compliance | minimal | — | — |
| 21 Sept 2026 · EPACK Durable 7th AGM: all 5 resolutions passed with over 99 percent approval | board shareholder meetings | low | — | — |
| 18 Sept 2026 · EPACK Durable 7th AGM held on Sept 18; all 5 resolutions passed | board shareholder meetings | low | — | — |
| 8 Sept 2026 · EPACK Durable allots 48,218 shares under ESOP Scheme 2023 | capital market events | low | — | — |
| 27 Aug 2026 · AGM Notice and Annual Report FY26 dispatched to shareholders | compliance | minimal | — | — |
| 27 Aug 2026 · Newspaper ad published for 7th AGM notice and FY25-26 Annual Report | compliance | minimal | — | — |
| 27 Aug 2026 · EPACK Durable files BRSR for FY 2025-26 as part of Annual Report | compliance | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.