Epack Durable Ltd IPO

About Epack Durable Ltd

The Company was incorporated on April 20, 2019, as `EPACK Durables Solutions Private Limited' in Greater Noida, Uttar Pradesh, as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated May 6, 2019, issued by the Registrar of Companies, Uttar Pradesh at Kanpur (RoC), upon the conversion of M/s E-Vision, a partnership firm (constituted in 2005 pursuant to the partnership deed dated July 16, 2005), into a private limited company. Subsequently, pursuant to a resolution passed by its Shareholders in the extraordinary general meeting held on July 30, 2021, the name of the Company was changed from `EPACK Durables Solutions Private Limited' to `EPACK Durable Private Limited', as part of the corporate rebranding of the Company to reflect the principal business being undertaken by the Company, and consequently, a fresh certificate of incorporation dated September 17, 2021, was issued by the RoC to the Company. Thereafter, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed by its Shareholders in the extraordinary general meeting held on June 13, 2023, and the name of the Company was changed to `EPACK Durable Limited', and a fresh certificate of incorporation dated June 28, 2023, was issued to the Company by the RoC.

The Indian consumer durables market size grew from Fiscal 2018 to Fiscal 2023 at a CAGR of 10.1%. The Company operates in the room air conditioners (RAC) industry and the small domestic appliances (SDA) industry, which are sub-sets of the consumer durables market. In the near future, the market is anticipated to experience growth acceleration fuelled by rising rural consumption, a shorter replacement cycle, increased retail penetration, and the availability of numerous brands and products at various price points. The overall market size of consumer durables market for Fiscal 2023 is estimated at Rs. 1,303 billion, and the market is expected to grow at an 13.7% CAGR until Fiscal 2028.

EPACK Durable Limited manufactures room air conditioners (RAC) and small domestic appliances (SDA), and its components. The Company operates in the RAC industry and the SDA industry, which are sub-sets of the consumer durables market. The small domestic appliances we currently design and manufacture include induction cooktops, mixergrinders, and water dispensers. Further, the components the company manufactures are heat exchangers, cross flow fans, axial fans, sheet metal press parts, injection moulded components, copper fabricated products, PCBAs, universal motors and induction coils for captive consumption as well as part of its product offerings to its customers. Its listed peers include Amber Enterprises India Limited, PG Electroplast Limited, Dixon Technologies (India) Limited, and Elin Electronics Limited.

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