Gist of interview of Ajay Singhania, MD and CEO EPACK Durable Limited
Plans to invest $30 million in the first phase of a new manufacturing facility at Sri City. This investment is part of a new alliance with Chinese consumer electronics giant Hisense. This Sri City unit is going to be a dedicated facility for Hisense, which will operate as a subsidiary of EPACK.
The goal is to establish a production capacity of at least one million ACs by FY28, with production slated to begin in June 2025. In addition to ACs, the facility will later produce washing machines, refrigerators and other smaller appliances.
Further investments will be required as they expand the capacity for refrigerators and other products. Expects the company to achieve a topline of $1 billion within the next 3-4 years.
While EPACK is responsible for manufacturing, Hisense will contribute by investing in tooling, design, technology and market development. Creating a strong market presence in India is key for Hisense, as it is a new venture for the company. Over time, they aim to expand their reach beyond India and supply products to global markets.
Epack Durable eyes 45-50% revenue growth in CFY.
Hisense, a global leader in consumer electronics and home appliances, has entered a strategic manufacturing alliance with EPACK Durable. Under this partnership, Hisense will set up a manufacturing facility in India to produce its range of ACs and home appliances. The goal is to introduce Hisenseโs smart, premium-quality products to the Indian market and become one of the top five brands in the country within the next five years.
Founded in 1969, Hisense currently operates in over 160 countries and generated around $29 billion in revenue in 2023, with over 40% coming from international sales. The company specialises in home entertainment, appliances, and IT solutions, with a focus on innovation and sustainability. Hisense is known for pioneering technologies such as Laser TV, ULED and AI chips. Its brand portfolio includes Toshiba TV, Gorenje, and ASKO.
While EPACK Durable began as a contract manufacturer of consumer durables and later transitioned into an Original Design Manufacturer (ODM) for ACs and small domestic appliances in 2012. Currently, EPACK is the second-largest AC manufacturer in India with 24% market share,
EPACK Durable currently has MCAP of around โน3,912 crore. Its shares gained 111% over the past six months.
