In a fast-evolving manufacturing landscape, EPACK Durables has emerged as a powerful player in India’s original equipment manufacturer (OEM) sector. Led by CEO Ajay DD Singhania, the company has successfully established itself across various market segments, from cooling solutions to small domestic appliances, and is on the cusp of further expansion.
In an exclusive interview, Singhania shares insights into EPACK’s current operations, future growth plans, and the innovative strategies that have propelled the company ahead of its competition. EPACK Durables operates in three key areas, all of which are pivotal to the company’s success. “We are an OEM ODO, meaning we are not a brand ourselves but manufacture for almost every brand in the country,” explains Singhania.
Among these, the cooling solutions segment, which includes room air conditioners and air coolers, plays a dominant role in generating revenue. “Around 80 percent of our revenue is currently driven by the cooling segment,” he adds. The second major area of focus for EPACK is small domestic appliances, where the company manufactures a variety of products such as induction cooktops, mixer grinders, and water dispensers.
This segment is also rapidly expanding, with EPACK entering new product categories like air fryers, showcasing its ability to adapt and meet market demands. The third segment, which is equally critical to EPACK’s success, is components manufacturing. The company not only assembles products but also produces a significant portion of the components in-house.
“For room air conditioners in particular, we manufacture nearly 75-80 percent of the components ourselves,” Singhania reveals. These include vital parts like motors, electronic controllers, and heat exchangers, which are also supplied to other clients, adding an additional revenue stream to the business.
EPACK Durables’ reliance on imported raw materials is another aspect of its operations, though the company maintains a focus on self-reliance through in-house production. Singhania notes that, like many other manufacturers worldwide, EPACK is not immune to importing essential materials. “No manufacturing operation in India or anywhere else in the world can be completely independent of imports, particularly from countries like China,” he points out.
Copper, aluminum, and compressors are among the key materials sourced externally. However, by producing most of its components internally, EPACK mitigates certain risks associated with global supply chains and strengthens its value proposition to its partners. EPACK is not content with its current achievements; it is actively working on expanding into the larger appliances market.
“We have already announced that by mid-October or end of September, we will begin manufacturing fully automatic top-load washing machines,” Singhania discloses. This move is part of the company’s broader strategy to diversify its product range and explore new revenue opportunities. By designing, developing, and manufacturing these products entirely in-house, EPACK reinforces its standing as a dependable OEM partner.
This expansion is poised to significantly contribute to the company’s aggressive growth ambitions. In recent years, EPACK has experienced substantial growth, consistently outperforming many of its peers in the sector. “Over the past four years, we have maintained a compound annual growth rate (CAGR) exceeding 40 percent,” Singhania shares. In the previous fiscal year, the company recorded revenue of INR 1,500 crore and is on track to achieve a 45-50 percent increase in the current fiscal year.
EPACK’s growth is further reflected in its substantial market share within the OEM space. “We command approximately 25 percent of the market share for OEM products manufactured in India,” Singhania points out, emphasizing the company’s leadership and its status as the fastest-growing OEM in the country.
One of the company’s core strengths lies in its ability to design products tailored to meet the specific needs of its clients. “Our strength is in design,” Singhania asserts. EPACK’s expertise in customising products for different brands, while ensuring they meet stringent quality and performance standards, has resulted in long-term contracts with leading market players.
“We provide significant design expertise to the 27 R&D engineers who work tirelessly on deep projects. If brands like Daikin, Voltas, or Blue Star are having their products manufactured by us, a design flaw would carry serious consequences. It’s our responsibility to not only design these products impeccably but also ensure they are manufactured to deliver consistent performance to the end customer,” Singhania adds, underscoring the meticulous attention to detail that permeates every step of EPACK’s manufacturing process.
In an age where digital innovation plays a crucial role in manufacturing, EPACK Durables is at the forefront of integrating technology into its operations. The company has embraced artificial intelligence (AI) to enhance its manufacturing processes. “For every product we manufacture, we maintain a digital record in the cloud. So, if a customer reports a problem with an air conditioner by providing the serial number, we can instantly trace it back to its origin.
We know how it was manufactured, what date it was produced, and can address the issue quickly,” Singhania explains. By employing AI tools to monitor and ensure consistency in production, EPACK ensures high-quality standards and rapid problem resolution. Looking towards the future, EPACK Durables has set its sights on ambitious growth targets.
The company aims to transform from its current size, with INR 1,500 crore in revenue, into a INR 5,000 crore enterprise over the next five years. To achieve this goal, the company plans to broaden its product portfolio, with particular focus on larger appliances, while continuing to innovate in its core sectors of cooling solutions and small domestic appliances.
By capitalising on its strengths in design, innovation, and manufacturing, EPACK Durables is well-positioned to continue its trajectory as a leader in India’s OEM industry. With a clear vision for the future and a solid track record of growth, the company is set to not only meet but exceed its ambitious targets in the coming years.
