Noida, India – January 31, 2025 – EPACK Durable Limited, a leading manufacturer of consumer durable products, has announced key decisions taken during its board meeting held on January 31, 2025. The company reported its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, alongside other strategic initiatives.
Key Financial Highlights (Q3 FY2025)
(All figures in ₹ lakhs unless specified)| Particulars | Q3 FY2025 | Q2 FY2025 | Q3 FY2024 | 9M FY2025 | 9M FY2024 | FY2024 (Audited) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 37,683.73 | 37,710.48 | 27,905.51 | 1,52,762.10 | 89,385.86 | 1,41,955.82 |
| Total Income | 38,170.72 | 38,184.55 | 28,093.49 | 1,54,317.31 | 89,725.69 | 1,42,850.57 |
| EBITDA | 2,654.70 | 2,534.81 | 2,059.53 | 10,347.53 | 6,901.57 | 9,871.23 |
| Profit Before Tax (PBT) | 349.37 | (1,169.59) | 666.86 | 2,410.56 | 1,063.90 | 4,919.97 |
| Net Profit (PAT) | 250.95 | (849.22) | 489.24 | 1,742.51 | 754.65 | 3,537.34 |
| Earnings Per Share (EPS) (₹) | 0.26 | (0.89) | 0.62 | 1.82 | 0.96 | 4.35 |
Key Takeaways:
- Stable revenue performance: Revenue remained steady at ₹37,683.73 lakh, compared to ₹37,710.48 lakh in the previous quarter.
- Return to profitability: The company reported a net profit of ₹250.95 lakh, recovering from the loss of ₹849.22 lakh in Q2 FY2025.
- EBITDA improvement: Margins showed an uptick, indicating operational efficiencies.
Strategic Business Announcements
1. Appointment of New Company Secretary and Compliance Officer
- Ms. Jyoti Verma (ICSI Membership No.: F7210) has been appointed as the Company Secretary & Compliance Officer with effect from January 31, 2025.
- She brings over 20 years of experience in corporate governance, having previously worked with Lemon Tree Hotels Ltd, KRBL Limited, and B.C. Jindal Group.
2. Expansion into International Markets: Incorporation of Wholly Owned Subsidiary in UAE
- The company has approved the establishment of EPACK Durable Global Sales FZE in Dubai, UAE.
- The subsidiary will focus on the trading of air conditioners and home appliances.
- Capital investment: AED 1,00,000 (₹22 lakh approx.), with 100% ownership by EPACK Durable Limited.
- This move aligns with the company's strategy to expand into global markets and enhance its international footprint.
3. Modification of MOU with East India Technologies
- The company has amended its Memorandum of Understanding (MOU) with East India Technologies Pvt Ltd, a promoter group company.
- The restrictive clause on audio equipment and television business opportunities has been removed.
- This decision opens new business avenues for EPACK in TVs, sound bars, and set-top boxes (STBs).
Financial & Compliance Disclosures
- Limited Review Reports from Deloitte Haskins & Sells, the company's statutory auditors, have been taken on record.
- The company’s shareholding in Epavo Electricals Private Limited increased from 26% to 50%, making it a joint venture.
- No adverse findings in the search & seizure action by the Income Tax Department at Epavo Electricals Private Limited.
Management Commentary
Mr. Jay D. Singhania, Managing Director & CEO, EPACK Durable Limited, stated: "We have successfully navigated a challenging quarter, returning to profitability and strengthening our financial position. Our strategic expansion into international markets and the relaxation of business restrictions with East India Technologies will unlock new growth opportunities. We remain committed to operational excellence and delivering value to our stakeholders."Outlook & Future Strategy
- International expansion: The Dubai subsidiary will help tap into the Middle East and African markets.
- Diversified portfolio: The amendment in the East India Technologies agreement allows for entry into new consumer electronics segments.
- IPO Proceeds Utilization: The company has deployed ₹14,937.03 lakh out of ₹37,846.45 lakh, with ₹22,800 lakh temporarily invested in fixed deposits.
- Robust capital allocation: Continued investments in manufacturing and R&D.