EPACK Durable Ltd receives Andhra Pradesh Government approval for ₹1,084.31 Crore combined investment under Electronics Manufacturing Policy 4.0

EPACK Durable Limited (BSE; NSE) has secured approval from the Government of Andhra Pradesh for a tailor-made incentive package under the Mega Category of the Andhra Pradesh Electronics Manufacturing Policy (4.0) for the combined proposed investments of the Company and its wholly-owned subsidiary, EPACK Manufacturing Technologies Private Limited (EMTPL).

The approval covers a combined proposed investment of ₹1,084.31 Crore, of which proposed investment by EPACK Durable is ₹314.31 crore and proposed investment by EMTPL is ₹770 Crore. These investments are aimed at expanding manufacturing capabilities for room air conditioners, components, small domestic appliances, washing machines, televisions and other home appliances in the state.

Under the approved package, the Government has allotted 36.41 acres of land to EPACK Durable at ₹60 Lakh per acre for establishing the proposed manufacturing facility. The package also provides a 50% capital subsidy on eligible fixed capital investment for the combined proposed investments, extends incentives to investments already made by the Company and EMTPL in Sri City after November 2024, and includes other benefits available under the policy for the proposed investments.

The proposed investment builds on EPACK Durable's existing manufacturing presence in Sri City, Andhra Pradesh, and is expected to support the Company's long-term capacity expansion plans across its diversified consumer durables portfolio.

Commenting on the development, Mr. Ajay DD Singhania, Managing Director and Chief Executive Officer, EPACK Durable Limited said, "The approval from the Government of Andhra Pradesh is an important step in our long-term manufacturing expansion plans. Andhra Pradesh has emerged as a preferred destination for electronics manufacturing, backed by progressive policies and a strong industrial ecosystem. The proposed combined investment will enable us to expand our manufacturing capabilities across room air conditioners, small domestic appliances, large domestic appliances and components while building on our existing presence in Sri City. The combined investment is also expected to generate employment of around 1,600 jobs in the state. As demand for consumer durables continues to grow, we remain focused on strengthening our manufacturing footprint and supporting our customers with enhanced scale, operational efficiencies and localisation."

The incentives are linked to the eligibility criteria prescribed under the Andhra Pradesh Electronics Manufacturing Policy (4.0), and the financial benefits will accrue in accordance with the provisions of the policy as the proposed investments are implemented.

EPACK Durable is one of India's leading Original Design Manufacturers (ODM) of room air conditioners and has diversified its manufacturing portfolio across large and small domestic appliances and components. The Company currently manufactures room air conditioners, washing machines, air coolers, induction cooktops, mixer grinders, bottled water dispensers, air fryers and other home appliances for leading consumer durable brands.

Shares of EPACK Durable Limited was last trading in BSE at Rs. 232.50 as compared to the previous close of Rs. 232.00. The total number of shares traded during the day was 36603 in over 674 trades.

The stock hit an intraday high of Rs. 237.00 and intraday low of 227.50. The net turnover during the day was Rs. 8448424.00.

Source : Equity Bulls

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