{"id":36961,"date":"2024-01-18T13:45:45","date_gmt":"2024-01-18T08:15:45","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=36961"},"modified":"2024-01-18T15:23:15","modified_gmt":"2024-01-18T09:53:15","slug":"epack-durable-limited","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/epack-durable-limited\/","title":{"rendered":"EPACK DURABLE LIMITED IPO"},"content":{"rendered":"\t\t
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EPACK Durable IPO is a book-built issue of Rs 640.05 crores.<\/span><\/p>

The issue is a combination of a fresh issue of 1.74 crore shares aggregating to Rs 400.00 crores and an offer for sale of 1,30,67,890\u00a0\u00a0shares aggregating to Rs 240.05 crores. The Face value is \u20b910 per share<\/span><\/p>

IPO opens for subscription on January 19, 2024, and closes on January 23, 2024. The IPO price band is set at \u20b9218 to \u20b9230 per share and the minimum lot size is 65 Shares.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Summary<\/b><\/strong><\/span><\/p>

\u00a0<\/b><\/strong>The Epack Durable Limited is the fastest-growing room air conditioner original design manufacturer (\u201cODM\u201d). It is the second largest ODM manufacturer in the Indian room air conditioner manufacturing market, with a market share of 29% in volume manufactured in Fiscal 2023.<\/span><\/p>

In addition, the company manufactures various components such as heat exchangers, cross-flow fans, axial fans, sheet metal press parts, injection molded components, copper fabricated products, PCBAs, universal motors, and induction coils for captive consumption<\/span><\/p>

Further, the company strategically expanded its operations in the small domestic appliances (\u201cSDA\u201d) market, considering the seasonality of the demand for RACs, and currently designs and manufactures induction cooktops, mixer grinders, and water dispensers.<\/span><\/p>

The company has four production facilities in Dehradun, namely Dehradun Unit I, Dehradun Unit II, Dehradun Unit III, and Dehradun Unit IV, and one manufacturing facility at Bhiwadi, Rajasthan, with an annual production capacity as of March 31, 2023 for manufacturing (i) 0.90 million IDUs, 0.66 million ODUs, 0.36 million ODU kits and 0.42 million WACs and (ii) 0.11 million water dispensers, 1.2 million induction hobs and 0.30 million mixers and their components.<\/span><\/p>

As of March 31, 2023, the company had 734 full-time employees, including engineers, university graduates, and diploma students.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Strengths<\/b><\/strong><\/span><\/p>

\u00a0<\/b><\/strong>The Company has long-standing business relationships with several well-known Indian and global customers.<\/span><\/p>

Some of its customers for RAC products include Blue Star Limited, Daikin Airconditioning India Private Limited, Carrier Midea India Private Limited, Voltas Limited, Havells India Limited, Haier Appliances (India) Private Limited, Infiniti Retail Limited, Godrej and Boyce Manufacturing Company Limited, and for its SDA products include Bajaj Electricals Limited, BSH Household Appliances Manufacturing Private Limited, and Usha International Limited.<\/span><\/p>

In addition to the manufacturing and assembling of RACs and SDAs, the company also manufactures various RAC and SDA components, thus facilitating the backward integration of manufacturing operations.<\/span><\/p>

The integration of manufacturing operations has also helped efficiently improve the quality of products and minimize the dependency on third-party suppliers, resulting in increased control over manufacturing time and costs. This has helped in increasing the stickiness of its customers.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Financials<\/b><\/strong><\/span><\/p>
Period Ended<\/b><\/strong><\/span><\/td>30 Sep 2023<\/b><\/strong><\/span><\/td>31 Mar 2023<\/b><\/strong><\/span><\/td>31 Mar 2022<\/b><\/strong><\/span><\/td>31 Mar 2021<\/b><\/strong><\/span><\/td><\/tr>
Assets<\/b><\/strong><\/span><\/td>1,071.45<\/span><\/td>1,464.16<\/span><\/td>1,076.68<\/span><\/td>520.37<\/span><\/td><\/tr>
Revenue<\/b><\/strong><\/span><\/td>616.32<\/span><\/td>1,540.25<\/span><\/td>927.34<\/span><\/td>739.66<\/span><\/td><\/tr>
Profit After Tax<\/b><\/strong><\/span><\/td>2.65<\/span><\/td>31.97<\/span><\/td>17.43<\/span><\/td>7.80<\/span><\/td><\/tr>
Net Worth<\/b><\/strong><\/span><\/td>478.31<\/span><\/td>313.62<\/span><\/td>121.87<\/span><\/td>68.91<\/span><\/td><\/tr>
Total Borrowing<\/b><\/strong><\/span><\/td>369.57<\/span><\/td>492.45<\/span><\/td>383.98<\/span><\/td>238.56<\/span><\/td><\/tr><\/tbody><\/table>

Amount in crore<\/span><\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Objectives of the IPO<\/span><\/span><\/p>

Offer for Sale<\/span><\/span><\/p>

\u00a0<\/span><\/span>Each of the Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale, after deducting their respective portion of the Offer-related expenses and relevant taxes thereon.<\/span><\/span><\/span><\/p>

\u00a0<\/span><\/span>Fresh Issue<\/span><\/span><\/span><\/p>

\u00a0<\/span><\/span>The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:<\/span><\/p>