EPACK Durable Q2 FY27 Revenue Surges 106% to ₹439 Crore; EBITDA Improves Significantly
EPACK Durable reported a 106% year-on-year revenue increase to ₹439 crore in Q2 FY27. EBITDA improved to ₹7.1 crore from ₹0.5 crore, with margins rising to 1.62%. The company achieved its highest-ever H1 revenue of ₹1,325 crore. Hisense washing machine pilot production starts in November 2026, with commercial production in December. Debt stands at ₹770 crore.
The significant revenue growth, improved profitability, and expansion into new product categories and partnerships like Hisense are material developments that are likely to impact the company's valuation and investor sentiment.
The company reported strong year-on-year growth in revenue and EBITDA, improved margins, and highlighted strategic expansions and partnerships, indicating positive operational and financial performance.
EPACK Durable Limited announced its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The company reported a significant surge in revenue from operations for the second quarter, reaching ₹439 crore, marking a substantial year-on-year growth of over 106% compared to ₹213 crore in the corresponding quarter of the previous fiscal year.
The company's EBITDA for the second quarter stood at ₹7.1 crore, a marked improvement from ₹0.5 crore in Q2 FY26. The EBITDA margin also saw an increase to 1.62% from 0.23% in the prior year's quarter. It was noted that the company did not accrue any Production Linked Incentive (PLI) income in Q2 FY27, whereas ₹8 crore of PLI income was accrued in Q2 FY26. Excluding this PLI income, the comparable EBITDA improvement on a year-on-year basis was approximately ₹14.6 crore, indicating an enhancement in underlying operational performance.
For the first half of FY27, EPACK Durable achieved its highest-ever revenue of ₹1,325 crore, a 51.3% increase year-on-year. The non-Room Air Conditioner (RAC) business, comprising Small Domestic Appliances (SDA) and Large Domestic Appliances (LDA), contributed 63% of the revenue in the second quarter and grew by 57%. Washing machines and air fryers were key drivers of this growth. The RAC business also saw a 61% revenue growth in the second quarter, supported by share gains and new customer acquisitions. The company is also deepening its captive integration in components like heat exchangers, copper tubing, and PCBs.
EPACK Durable now serves 72 customers across 19 categories, with a reduction in top customer concentration to 32% from 72% in FY26. New product launches in vacuum cleaners, tower fans, and nutri blenders were also highlighted. The partnership with Hisense, through its wholly-owned subsidiary EMTPL, is set to expand with pilot production for Hisense's front-load washing machines scheduled for end-November 2026, followed by commercial production. The company also announced strategic decisions to sharpen its focus on the core business, including transferring its 50% stake in the Epavo Electricals joint venture and winding up two subsidiaries.
Management commentary indicated that while commodity prices and FX fluctuations have been volatile, contracts allow for cost pass-through. The company is focused on scaling growth engines, deepening strategic partnerships, and building margins through operating leverage and product mix improvement. The company's gross debt stood at ₹770 crore, with plans for staggered investments of approximately ₹100 crore over the next 6-12 months. The management also discussed the phasing out of PLI income, potential extensions, and strategies to improve margins through product mix and rolling back PLI discounts.
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