EPACK Prefab profit rises 0.4% as revenue grows 15.5%

EPACK PREFAB TECHNOLOGIES LIMITED reported consolidated profit of Rs 29.58 crore for the quarter ended September 30, 2026, up 0.4% from a year earlier, as revenue from operations rose 15.5% to Rs 501.13 crore. Total expenses increased by Rs 68.27 crore, slightly exceeding the Rs 67.96 crore rise in total income.

How did EPACK Prefab perform in the September 2026 quarter?

EPACK Prefab increased revenue from operations to Rs 501.13 crore in the quarter ended September 30, 2026, from Rs 433.94 crore in the corresponding quarter ended September 30, 2025. Total income, including Rs 3.56 crore of other income, rose to Rs 504.68 crore from Rs 436.72 crore, while other income was Rs 2.79 crore a year earlier.

Profit before tax declined to Rs 38.74 crore from Rs 39.05 crore despite the increase in total income. Profit for the period nevertheless rose to Rs 29.58 crore from Rs 29.47 crore because total tax expense declined to Rs 9.16 crore from Rs 9.58 crore. Basic earnings per share, not annualised for the quarter, were Rs 2.94, compared with Rs 3.44 a year earlier.

EPACK Prefab’s profit for the period represented about 5.9% of total income in the September 2026 quarter, compared with about 6.7% in the prior-year quarter, based on the reported figures. Diluted earnings per share were Rs 2.93, against Rs 3.44 in the September 2025 quarter, while paid-up equity share capital was Rs 20.13 crore at September 30, 2026.

What costs rose faster than EPACK Prefab’s income?

EPACK Prefab’s total expenses rose to Rs 465.94 crore in the September 2026 quarter from Rs 397.67 crore a year earlier, an increase of Rs 68.27 crore. That increase marginally exceeded the Rs 67.96 crore increase in total income, resulting in the decline in profit before tax from Rs 39.05 crore to Rs 38.74 crore.

Materials consumed, including erection charges and job-work charges, increased to Rs 335.54 crore from Rs 272.35 crore. Employee benefits expense rose to Rs 45.41 crore from Rs 40.40 crore, other expenses increased to Rs 62.25 crore from Rs 58.09 crore, and depreciation and amortisation expense rose to Rs 6.67 crore from Rs 5.67 crore.

Finance costs were Rs 8.73 crore, compared with Rs 8.06 crore in the prior-year quarter. On a sequential basis, revenue from operations increased from Rs 365.84 crore in the quarter ended June 30, 2026, to Rs 501.13 crore in the September quarter, while profit for the period increased from Rs 18.17 crore to Rs 29.58 crore.

What did EPACK Prefab report for the first half?

EPACK Prefab reported revenue from operations of Rs 866.96 crore for the half year ended September 30, 2026, compared with Rs 729.28 crore in the half year ended September 30, 2025. Total income increased to Rs 874.28 crore from Rs 734.57 crore, and profit for the period rose to Rs 47.75 crore from Rs 45.49 crore.

Profit before tax for the half year was Rs 62.92 crore, compared with Rs 60.37 crore a year earlier, while total tax expense was Rs 15.16 crore against Rs 14.87 crore. Basic earnings per share for the six months were Rs 4.75, below Rs 5.30 in the prior-year half, and diluted earnings per share were Rs 4.73 compared with Rs 5.30.

Total expenses for the half year increased to Rs 811.37 crore from Rs 674.20 crore. Materials, erection and job-work costs rose to Rs 620.16 crore from Rs 488.84 crore, other expenses increased to Rs 105.20 crore from Rs 95.29 crore, and finance costs rose to Rs 16.41 crore from Rs 15.06 crore.

How did EPACK Prefab’s balance sheet and cash flow change?

EPACK Prefab’s total assets were Rs 1,563.96 crore as at September 30, 2026, compared with Rs 1,426.90 crore as at March 31, 2026. Current assets increased to Rs 1,080.15 crore from Rs 987.27 crore, including inventories of Rs 362.34 crore versus Rs 265.75 crore and trade receivables of Rs 452.87 crore versus Rs 308.75 crore.

Cash and cash equivalents decreased to Rs 27.04 crore from Rs 66.74 crore, while bank balances other than cash and cash equivalents fell to Rs 123.60 crore from Rs 218.75 crore. Total equity increased to Rs 783.38 crore from Rs 734.53 crore, and current borrowings rose to Rs 97.77 crore from Rs 75.67 crore over the same period.

EPACK Prefab used Rs 106.92 crore in operating activities during the half year ended September 30, 2026, against Rs 92.63 crore generated in the corresponding 2025 half year. Trade receivables absorbed Rs 144.12 crore and inventories absorbed Rs 96.59 crore, compared with cash uses of Rs 59.37 crore and Rs 32.61 crore, respectively, a year earlier.

The company spent Rs 45.78 crore on purchases of property, plant, equipment and intangible assets during the six months, compared with Rs 21.22 crore in the prior-year period. Property, plant and equipment rose to Rs 345.04 crore at September 30, 2026, from Rs 307.30 crore at March 31, while capital work in progress was Rs 57.03 crore compared with Rs 60.35 crore.

What is EPACK Prefab doing with its IPO proceeds?

EPACK Prefab said it had received Rs 300 crore in initial public offering, or IPO, money, with Rs 285.18 crore remaining after Rs 14.82 crore of share-issuance expenses stated in the offer document. It had repaid Rs 70 crore of term loans from the proceeds as at September 30, 2026.

The company reported capital-expenditure payments of Rs 65.30 crore for the Ghiloth, Rajasthan plant and Rs 39.95 crore for the Mambatu, Andhra Pradesh plant. It said partial commercial production at the Mambatu expansion plant began on April 29, 2026, and management expects the Ghiloth plant to start during financial year 2027.

EPACK Prefab had temporarily invested Rs 91.49 crore of unutilised IPO money in fixed deposits with scheduled commercial banks as at September 30, 2026. The audit committee and board approved use of general corporate-purpose IPO money for working capital, direct and indirect tax payments, general expenses and IPO expenses beyond the initial estimate.

The company’s employee stock option scheme had 9,28,005 outstanding employee options, net of first-tranche options exercised and forfeited, as at September 30, 2026. The scheme has a maximum pool of 16,91,464 options, with options scheduled to vest over four years at up to 25% in each year from the grant date.

Conclusion

EPACK Prefab delivered higher September-quarter sales, but the increase in total expenses was larger than the increase in total income in absolute terms. Revenue from operations increased 15.5% to Rs 501.13 crore, while profit before tax declined 0.8% to Rs 38.74 crore; a lower tax expense left profit for the period 0.4% higher at Rs 29.58 crore.

The next disclosed operating milestones are the continued production ramp-up at the Mambatu expansion plant, where partial commercial production began on April 29, 2026, and the expected Ghiloth plant start during financial year 2027. Working-capital movements also remain relevant after receivables and inventories together absorbed Rs 240.71 crore of cash in the half year ended September 30, 2026.