EPACK Durable profit crash: PAT down 99.95% in FY26

What triggered attention on EPACK Durable’s FY26 numbers

EPACK Durable’s latest profit print shows a steep decline, bringing its FY26 performance into focus for investors tracking listed consumer durables manufacturers and contract makers. The company reported that net profit fell 99.95% to ₹0.02 crore in the quarter ended March 2026, compared with ₹37.72 crore in the previous quarter ended March 2025. For the full year, net profit declined 94.09% to ₹3.26 crore in the year ended March 2026, versus ₹55.14 crore in the year ended March 2025.

The profit trend comes amid a wider set of operating updates across periods, including management commentary on product mix, margin movement, and the planned use of unutilised IPO proceeds for new projects.

Quarterly profit and full-year comparison (as stated)

The reported numbers indicate a material compression in profitability year-on-year across both the March quarter and the full financial year. While the dataset provided does not include revenue or margin details for the March 2026 quarter, the magnitude of profit decline is large enough to prompt questions around demand conditions, cost structure, and the mix of products sold.

The company also posted a loss of ₹22.25 crore in the quarter ended September 30, 2025, after three consecutive quarters of profits, according to the information shared. That data point highlights that earnings have been volatile across FY26, with profits and losses alternating across quarters.

Q2 FY25: growth in revenue, but a net loss

Operational data shared for the second quarter of FY25 shows revenue growth but weak bottom-line performance. Revenue from operations for Q2 FY25 stood at ₹377 crore, up 112% year-on-year. EBITDA for the quarter was around ₹9.6 crore, up about 25% year-on-year, with an EBITDA margin of 2.55%.

Despite the increase in revenue and EBITDA, the company reported a net loss of around ₹8.5 crore for the quarter, compared with a net loss of ₹6 crore in the corresponding quarter of the previous financial year.

H1 FY25: revenue scaled up and profits improved

For the first half of FY24-25, revenue from operations was reported at ₹1,151 crore, up 87% year-on-year. EBITDA for the period was around ₹62 crore, up 66% year-on-year, with an EBITDA margin of 5.34%.

Net profit for the first half was around ₹15 crore, representing an increase of 452% year-on-year. The profit after tax margin was reported at 1.29%.

Management commentary: product mix and air conditioner exposure

As per the commentary provided, management said there was “no degrowth in margins as such,” while also acknowledging that a year-on-year comparison for Q2 can show a dip. The stated reason was a higher contribution from air conditioners, which were described as a slightly lower-margin business and can reduce overall margins when their share of sales rises.

This product-mix effect is important for investors because reported profitability can shift materially even when demand is strong, depending on which categories drive revenue during a given quarter.

IPO cash, fixed deposits, and funding plan for projects

On funding for upcoming projects, management indicated the company had unutilised IPO proceeds. It stated that it had a fixed deposit of ₹230 crore lying in the bank, which would be used to fund planned projects.

Separately, the company reiterated its margin guidance. It said it achieved 8.12% EBITDA margin last year and was targeting a similar level of around 8% for the current year, as per the commentary.

Q1 FY26: revenue dip, EBITDA up, margins improved

In another operating update, the company said its Q1 FY26 revenue dipped 14.4% to ₹662.4 crore from ₹773.7 crore in Q1 FY25, citing unexpected weather fluctuations and surplus finished goods inventory carried over from Q4 FY25.

EBITDA rose 5.6% year-on-year to ₹54.6 crore. The EBITDA margin was reported at 8.24%, up 156 bps year-on-year, while the net profit margin was reported at 3.46%, up 43 bps year-on-year. The company also said it added new customers and benefited from a more optimised product mix, which supported margins.

ICICI Venture exits: stake sale details and stock performance context

Domestic private equity fund manager ICICI Venture sold its remaining shareholding in EPACK Durable, the company disclosed to exchanges. ICICI Venture sold 36.38 lakh shares, representing 3.79% shareholding, through open market trades between March 24 and July 31. At the average stock price during that period, the sale value was estimated at about ₹132 crore.

The dataset also noted that the stock has lost 30% this year, and it closed at ₹385.7 on the BSE on August 5.

Share price snapshot and company profile details

A separate price update stated EPACK Durables’ share price moved up 8.83% from ₹252.15 to ₹274.40.

The company’s registered office address shared in the dataset is: 61-B Udyog Vihar Surajpur, Kasna Road, Greater Noida, Gautam Buddha Nagar, Uttar Pradesh-201306.

Key numbers at a glance

Why these disclosures matter for investors

Three themes emerge from the disclosures provided: profit volatility across quarters, margin sensitivity to product mix (including air conditioner contribution), and the importance of capital allocation using IPO proceeds. ICICI Venture’s complete exit is also a notable ownership event, as it increases the stock’s free float and can influence trading dynamics in the period following large stake sales.

The company’s stated target of maintaining EBITDA margins around 8% will likely be tracked closely against the quarterly mix, especially when seasonal categories and weather-linked demand change the sales composition.

Closing note

EPACK Durable’s reported FY26 profit decline, alongside mixed quarterly operating updates and a major shareholder exit, sets up a watchlist for upcoming results and disclosures. Investors will also monitor how the company deploys the ₹230 crore fixed-deposit corpus tied to unutilised IPO proceeds toward its planned projects.