Shares of Epack Durable Ltd dipped over 4% on October 4, 2024, following the announcement of a strategic manufacturing agreement with Panasonic Life Solutions India Private Limited. The stock was trading at ₹403.00, down by 4.10%, at 9:45 AM IST.
Key Agreement Details:
Epack Durable, a prominent name in the air conditioning sector, has entered into a partnership with Panasonic to manufacture crucial components for Panasonic’s Room Air Conditioners (RACs). Epack will function as an Electronics Manufacturing Services (EMS) provider for Panasonic, delivering PCB controllers — the central component of an inverter AC. The agreement also includes other key parts like heat exchangers, cross-flow and propeller fans, injection-molded components, and copper parts.
Statement from Epack:
Bajrang Bothra, Executive Chairman of Epack, commented on the development, stating that this partnership with Panasonic is a defining moment for the company. “The surge in demand for energy-efficient, inverter-based room air conditioners in India makes the role of PCBA controllers even more crucial,” he noted.
Ajay DD Singhania, Managing Director & CEO of Epack, added, “Since March 2023, we have been producing advanced controllers at our Bhiwadi facility, initially for internal needs. Now, this cutting-edge capacity will be used to manufacture inverter PCBA controllers for Panasonic and other clients.”
Expansion in EMS Segment:
Epack emphasized that this manufacturing deal marks a transformative step, as it transitions from producing components for captive use to becoming a primary supplier for Panasonic. The company is keen to explore new growth opportunities within the EMS sector.
