Latest news with #productexpansion
Entrepreneur
12 hours ago
- Business
- Entrepreneur
EPACK Durables to Invest 500 Crore to Expand Beyond Core AC Business
AC's contribute more than half to the overall business growth, however, anticipating a drop in the segment in the coming few years, the company is looking at reducing dependence on a single portfolio Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Over the years, EPACK Durable, has evolved from being an air conditioner (AC) manufacturer to a full-fledged home appliances company. With its AC's contribution coming down from 80 percent to 70 percent last year, and likely to reduce further around 60 percent, EPACK is reducing dependence on seasonal demand. AC's contribute more than half to the overall business growth, however, anticipating a drop in the segment in the coming few years, the company is looking at reducing dependence on a single portfolio. In the next 12–18 months, the company plan to invest INR 400–500 crore as part of its expansion plans. Its other segments such as large domestic appliances, like air coolers, washing machines, and small kitchen appliances like mixer grinders and induction cooktops, are expanding at a fast pace. "This year alone, we are launching three new products- washing machines, air fryers, and nutri-blenders as part of our portfolio expansion efforts. This evolving product mix positions us well to offset the seasonality in AC demand and drive more stable, consistent growth across our broader appliance portfolio," said Ajay DD Singhania, MD & CEO, EPACK Durable. The new investment of INR 400–500 crore, will be used to expand capacity at Southern and Northern plants. In addition to this, it is also working towards setting up a dedicated manufacturing facility for its new partnership with Hisense, for manufacturing both ACs and other appliances. Non-AC seasonal products are a big focus and it is growing more than 100 percent year on year (YoY). "We have set up a new line for air-fryers in our Bhiwadi facility, with an output of producing 400 air-fryers every hour. We received a great response and the company is currently manufacturing air-fryers for two of the biggest home appliances companies in India," he added. Last year, EPACK Durable closed a revenue of INR 2,170 crore. It aims to reach a revenue milestone of INR 5000 Cr over the next three years. Although, the overall market of AC, saw a de-growth of around 15-20 percent this year, there is a renewed surge demand in June. To manage the situation proactively, production was put on hold for June to prioritize liquidating existing inventory. "With overflow inventory now beginning to clear and market movement improving, we expect better visibility and a potential ramp-up in production from July onwards." Over the past few years, EPACK Durable has evolved into an ODM (original design manufacturer) and OEM (original equipment manufacturer) company, driven by consistent investments in backward integration across key components. "Today, EPACK Durable stands out with one of the highest levels of backward integration in the industry. In the AC segment, we produce nearly all critical components in-house—including heat exchangers, copper-fabricated parts, cross-flow fans, and more—with compressors being the only major element sourced externally." Moving ahead, it plans to strengthen product portfolio with nutriblenders, coffee makers and vacuum cleaners. Additionally, the components business is also gaining momentum. "Earlier, our motor and controller capabilities were for internal use; now we are offering them as products to other customers, which are contributing significantly to the growth," the CEO said, explaining the future projects. Over the years, EPACK Durable, has evolved from being an air conditioner (AC) manufacturer to a full-fledged home appliances company. With its AC's contribution coming down from 80 percent to 70 percent last year, and likely to reduce further around 60 percent, EPACK is reducing dependence on seasonal demand. AC's contribute more than half to the overall business growth, however, anticipating a drop in the segment in the coming few years, the company is looking at reducing dependence on a single portfolio. In the next 12–18 months, the company plan to invest INR 400–500 crore as part of its expansion plans. Its other segments such as large domestic appliances, like air coolers, washing machines, and small kitchen appliances like mixer grinders and induction cooktops, are expanding at a fast pace. "This year alone, we are launching three new products- washing machines, air fryers, and nutri-blenders as part of our portfolio expansion efforts. This evolving product mix positions us well to offset the seasonality in AC demand and drive more stable, consistent growth across our broader appliance portfolio," said Ajay DD Singhania, MD & CEO, EPACK Durable. The new investment of INR 400–500 crore, will be used to expand capacity at Southern and Northern plants. In addition to this, it is also working towards setting up a dedicated manufacturing facility for its new partnership with Hisense, for manufacturing both ACs and other appliances. Non-AC seasonal products are a big focus and it is growing more than 100 percent year on year (YoY). "We have set up a new line for air-fryers in our Bhiwadi facility, with an output of producing 400 air-fryers every hour. We received a great response and the company is currently manufacturing air-fryers for two of the biggest home appliances companies in India," he added. Last year, EPACK Durable closed a revenue of INR 2,170 crore. It aims to reach a revenue milestone of INR 5000 Cr over the next three years. Although, the overall market of AC, saw a de-growth of around 15-20 percent this year, there is a renewed surge demand in June. To manage the situation proactively, production was put on hold for June to prioritize liquidating existing inventory. "With overflow inventory now beginning to clear and market movement improving, we expect better visibility and a potential ramp-up in production from July onwards." Over the past few years, EPACK Durable has evolved into an ODM (original design manufacturer) and OEM (original equipment manufacturer) company, driven by consistent investments in backward integration across key components. "Today, EPACK Durable stands out with one of the highest levels of backward integration in the industry. In the AC segment, we produce nearly all critical components in-house—including heat exchangers, copper-fabricated parts, cross-flow fans, and more—with compressors being the only major element sourced externally." Moving ahead, it plans to strengthen product portfolio with nutriblenders, coffee makers and vacuum cleaners. Additionally, the components business is also gaining momentum. "Earlier, our motor and controller capabilities were for internal use; now we are offering them as products to other customers, which are contributing significantly to the growth," the CEO said, explaining the future projects.
The Independent
11-06-2025
- Business
- The Independent
E2E Tech 100 partner OakNorth: 'Supporting these businesses is a privilege'
OakNorth's partnership with E2E on the Tech 100 is indicative of this mission, and Kristensen considers it OakNorth's privilege to be able to support these businesses on their growth journeys. Describing OakNorth's own journey, Kristensen outlines the exciting upcoming product expansion, and the impact the bank has had in the US since opening there in 2023. For more information and to see the full E2E Tech 100 2025 list click here.
