Board Meeting Details

The Board of Directors meeting was held on August 11, 2026, commencing at 03:32 PM and concluding at 04:42 PM.

Key Matters Approved

I. Financial Results Approval

The Board approved the Standalone and Consolidated Unaudited Financial Results for the quarter ended June 30, 2026, together with Limited Review Reports issued by Statutory Auditors Deloitte Haskins & Sells.

II. Internal Auditor Reappointment

Based on Audit Committee recommendation, the Board approved the reappointment of M/s Ernst & Young LLP as Internal Auditor for Financial Year 2026-27.

Financial Performance Highlights (Consolidated - Rs in Lakhs)

Quarterly Performance (Q1 FY27 vs Q4 FY26 vs Q1 FY26)

  • Revenue from operations: ₹8,860.24 (Q1 FY27) vs ₹5,910.47 (Q4 FY26) vs ₹6,623.93 (Q1 FY26)
  • Total income: ₹8,877.25 (Q1 FY27) vs ₹5,938.95 (Q4 FY26) vs ₹6,680.76 (Q1 FY26)
  • Profit before tax: ₹1,760.08 (Q1 FY27) vs ₹99.94 (Q4 FY26) vs ₹3,146.03 (Q1 FY26)
  • Net profit: ₹1,181.79 (Q1 FY27) vs ₹2.42 (Q4 FY26) vs ₹2,289.13 (Q1 FY26)
  • EPS (Basic): ₹1.23 (Q1 FY27) vs ₹0.003 (Q4 FY26) vs ₹2.39 (Q1 FY26)

Annual Performance (FY26)

  • Revenue from operations: ₹18,944.55
  • Total income: ₹19,107.14
  • Net profit: ₹325.87

Auditor's Qualified Opinion

Deloitte Haskins & Sells issued a qualified conclusion on both standalone and consolidated financial results due to disputed trade receivables of ₹1,961.00 lakhs (₹19.61 crore) from one customer. The matter is under legal dispute, and the auditors were unable to determine whether any adjustment is required to the carrying amount of trade receivables and the impact on profit/loss and equity.

Disputed Receivables Details

  • Amount: ₹1,961.00 lakhs from one customer
  • Status: Customer disputed outstanding dues after legal notice served
  • Legal action: Criminal complaint filed with Economic Offences Wing (EOW), closed on April 16, 2026, considering matter as civil in nature
  • Company's assessment: Believes high probability of recovery based on contract terms, validity of sales transactions, and long-standing customer relationship
  • No provision recognized against disputed dues

Production Linked Incentive (PLI) Impact

  • No PLI income recognized in current quarter
  • Company could not achieve prescribed incremental sales threshold for FY 2025-26
  • PLI income of ₹3,242.00 lakhs (including ₹1,331.00 lakhs from Q1 FY25) accrued during nine months ended December 31, 2025, was reversed during Q4 FY26
  • Result: No PLI income recognized during FY 2025-26

Rajasthan Investment Promotion Scheme (RIPS)

  • Company made eligible investments in Rajasthan under RIPS 2019
  • Applied for transition from RIPS 2019 to RIPS 2024 during Q4 FY26
  • Received entitlement certificates effective from February 15, 2022, under thrust sector category for 10 years
  • Recognized incentive income of ₹2,177.36 lakhs under RIPS 2024 during Q4 FY26
  • Additional ₹183.67 lakhs recognized in current quarter (Q1 FY27)
  • Awaiting implementation and activation of portal for claim submission

Business Segment Information

  • Single reportable business segment: Manufacturing of consumer durable products
  • Single geographical segment: Primarily operating in India
  • Business is seasonal in nature, making quarter-to-quarter comparisons not fully comparable

Subsidiaries and Joint Venture

Consolidated results include:

  • EPACK Manufacturing Technologies Private Limited (Subsidiary)
  • Bumjin India Audio Products Private Limited (Subsidiary)
  • EPACK Electronic Components Private Limited (Subsidiary)
  • EPACK Durable Global Sales L.L.C.- FZ (Subsidiary)
  • Epavo Electricals Private Limited (Joint Venture Company)

Joint venture share of net loss: ₹229.18 lakhs for Q1 FY27

IPO Utilization

  • IPO completed in FY 2024 with issue of 27,828,351 equity shares at ₹230 per share
  • Entire IPO proceeds fully utilized as per offer document
  • No unutilized amount as of March 31, 2026