BSE: 544095 | NSE: EPACK | Air Conditioners | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that EPACK Durable Ltd is a below average quality company.
The key valuation ratios of EPACK Durable Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of EPACK Durable Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 11.8% | 13.7% | 11.7% | 8.8% | - |
| Value Creation Index ⓘ | -0.2 | 0.0 | -0.2 | -0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 736 | 916 | 1,539 | 1,420 | 1,954 |
| Sales YoY Gr. | - | 24.4% | 68% | -7.8% | - |
| Adj EPS ⓘ | 1.4 | 3.2 | 7 | 3.4 | 5.1 |
| YoY Gr. | - | 135.6% | 119.2% | -50.7% | - |
| BVPS (₹) ⓘ | 14.3 | 23.5 | 56.7 | 93.1 | 95.2 |
| Adj Net Profit ⓘ | 6.5 | 16.6 | 36.3 | 33 | 48 |
| Cash Flow from Ops. ⓘ | 47.5 | -49 | 18.8 | 257 | - |
| Debt/CF from Ops. ⓘ | 5 | -7.8 | 26.2 | 1.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 24.5% | -7.8% | ||||
| Adj EPS ⓘ | NA | NA | 36.6% | -50.7% | ||||
| BVPSⓘ | NA | NA | 86.7% | 64.1% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 9.5 | 17.3 | 16.6 | 5.5 | 5.4 |
| Op. Profit Mgn % ⓘ | 5.7 | 7.1 | 6.9 | 8.2 | 7.1 |
| Net Profit Mgn % ⓘ | 0.9 | 1.8 | 2.4 | 2.3 | 2.5 |
| Debt to Equity ⓘ | 3.5 | 3.1 | 1.6 | 0.4 | 0.1 |
| Working Cap Days ⓘ | 0 | 206 | 180 | 234 | 99 |
| Cash Conv. Cycle ⓘ | 0 | 100 | 76 | 68 | 21 |
Sales growth is growing at healthy rate in last 3 years 24.46%
Net Profit is growing at healthy rate in last 3 years 36.59%
Debt to equity has declined versus last 3 years average to 0.37
Sales growth is good in last 4 quarters at 43.12%
Return on Equity has declined versus last 3 years average to 5.40%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.1 | 5 |
| TTM Sales (₹ Cr.) | 1,954 | 1,956 |
| BVPS (₹.) ⓘ | 95.2 | 94.9 |
| Reserves (₹ Cr.) ⓘ | 817 | 815 |
| P/BV ⓘ | 4.33 | 4.34 |
| PE ⓘ | 81.60 | 82.95 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 150.95 / 517.00 |
| All Time Low / High (₹) | 150.95 / 517.00 |
| Market Cap (₹ Cr.) | 3,951 |
| Equity (₹ Cr.) | 96 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 91.5 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 736 | 916 | 1,539 | 1,420 |
| Operating Expenses ⓘ | 694 | 851 | 1,436 | 1,303 |
| Manufacturing Costs | 19 | 21 | 51 | 44 |
| Material Costs | 649 | 802 | 1,324 | 1,190 |
| Employee Cost | 17 | 20 | 33 | 48 |
| Other Costs ⓘ | 10 | 9 | 28 | 21 |
| Operating Profit ⓘ | 42 | 65 | 103 | 116 |
| Operating Profit Margin (%) | 5.7% | 7.1% | 6.7% | 8.2% |
| Other Income ⓘ | 3 | 4 | 1 | 9 |
| Interest ⓘ | 26 | 29 | 31 | 39 |
| Depreciation ⓘ | 9 | 13 | 26 | 35 |
| Exceptional Items ⓘ | 0 | 0 | -2 | 0 |
| Profit Before Tax ⓘ | 11 | 27 | 45 | 51 |
| Tax ⓘ | 3 | 8 | 12 | 14 |
| Profit After Tax | 8 | 18 | 33 | 36 |
| PAT Margin (%) | 1.0% | 2.0% | 2.1% | 2.6% |
| Adjusted EPS (₹) | 1.6 | 3.5 | 6.3 | 3.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 69 | 122 | 314 | 891 | ||||||
| Share Capital ⓘ | 48 | 52 | 71 | 96 | ||||||
| Reserves ⓘ | 21 | 70 | 243 | 796 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 226 | 355 | 464 | 299 | ||||||
| Long Term Debt | 68 | 60 | 114 | 62 | ||||||
| Short Term Debt | 158 | 296 | 350 | 237 | ||||||
| Trade Payables | 152 | 290 | 389 | 416 | ||||||
| Others Liabilities ⓘ | 74 | 254 | 298 | 164 | ||||||
| Total Liabilities ⓘ | 520 | 1,021 | 1,465 | 1,770 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 143 | 322 | 488 | 779 | ||||||
| Accumulated Depreciation | 27 | 40 | 68 | 101 | ||||||
| Net Fixed Assetsⓘ | 116 | 282 | 419 | 678 | ||||||
| CWIP ⓘ | 0 | 8 | 92 | 27 | ||||||
| Investmentsⓘ | 0 | 37 | 6 | 11 | ||||||
| Inventories | 140 | 242 | 294 | 378 | ||||||
| Trade Receivables | 234 | 355 | 479 | 212 | ||||||
| Cash Equivalents | 12 | 54 | 75 | 107 | ||||||
| Others Assetsⓘ | 18 | 44 | 100 | 357 | ||||||
| Total Assets ⓘ | 520 | 1,021 | 1,465 | 1,770 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 47 | -49 | 19 | 257 |
| PBT ⓘ | 11 | 27 | 45 | 51 |
| Adjustment ⓘ | 35 | 41 | 61 | 74 |
| Changes in Working Capital ⓘ | 4 | -108 | -74 | 142 |
| Tax Paid ⓘ | -2 | -8 | -13 | -10 |
| Cash Flow From Investing Activity ⓘ | -7 | -204 | -218 | -377 |
| Capex | -5 | -177 | -232 | -157 |
| Net Investments | -3 | -28 | 18 | -221 |
| Others ⓘ | 1 | 1 | -3 | 1 |
| Cash Flow From Financing Activityⓘ | -43 | 269 | 235 | 167 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 400 |
| Net Proceeds from Borrowing ⓘ | 45 | 3 | 57 | -49 |
| Interest Paid ⓘ | -25 | -29 | -30 | -40 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | -62 | 295 | 208 | -145 |
| Net Cash Flow ⓘ | -2 | 16 | 36 | 47 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 10.94 | 18.89 | 15.59 | 6.15 | ||||||
| ROCE (%) | 11.77 | 13.69 | 11.66 | 8.82 | ||||||
| Asset Turnover Ratio | 1.41 | 1.19 | 1.24 | 0.88 | ||||||
| PAT to CFO Conversion(x) | 5.88 | -2.72 | 0.58 | 7.14 | Working Capital Days | |||||
| Receivable Days | 116 | 117 | 99 | 89 | ||||||
| Inventory Days | 70 | 76 | 63 | 86 | ||||||
| Payable Days | 85 | 101 | 94 | 123 | ||||||
EPACK Durable Limited 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 company is largest room air conditioner original design manufacturer (ODM) in India. It is a customer-centric business driven by a focus on continuing innovation and operational efficiency. Since 2003, it has been on a journey of evolution, where it initially started as an OEM for RAC brands. Driven by its focus on product development and innovation, it evolved into an ODM partner for RACs for its customers.
The company also identified the opportunity to increase its value addition in its offerings to customers, and accordingly, started manufacturing of various components such as sheet metal, injection moulded, cross flow fans and PCBA components which are actively used in the manufacturing of RACs. In parallel, it capitalised on its existing manufacturing infrastructure to strategically expand its operations in the small domestic appliances (SDA) market, particularly considering the seasonality of the demand for RACs, and currently design and manufacture induction cooktops, mixer-grinders, and water dispensers. This evidences its continued focus on the backward integration of its operations and diversification of its revenue streams. Its product portfolio currently comprises Room air conditioners, Small domestic appliances, Components etc. Its offerings showcase its ability to provide a wide range of product solutions and components across the RAC value chain.
Business area of the company
The company is largest room air conditioner original design manufacturer (ODM) in India.
Products of the company
Room air conditioners
Small domestic appliances
Components
Awards, accreditations or recognitions
History and milestones
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