Hisense Group, a China-based multinational specializing in appliances and electronics, is in preliminary discussions to acquire a minority stake in a step-down subsidiary of Epack Durable Private Limited (EDPL), an Indian Original Equipment Manufacturer (OEM).
In a statement to stock exchanges on Tuesday, EDPL confirmed the ongoing negotiations with Hisense, stating, “We would like to inform you that business discussions are currently in the preliminary stage.” The company assured that necessary disclosures would be made as per legal requirements at the appropriate time.
Epack Durable, headquartered in Greater Noida, is India’s second-largest Original Design Manufacturer (ODM) for room air-conditioners, based on production of indoor and outdoor units. Listed on NSE and BSE earlier this year, Epack has been expanding its manufacturing footprint, including its latest facility in Sri City, Andhra Pradesh.
Established in FY24, this facility has boosted Epack’s production capacity by nearly 50%. It manufactures products like air-conditioners, water dispensers, induction cooktops, and mixer grinders, along with components such as plastic mouldings, sheet metal, copper tubing, and heat exchangers.
Founded in 2002, Epack Durable operates additional manufacturing plants in Dehradun and Bhiwadi, Rajasthan. For FY24, the company reported revenues of ₹1,419.6 crore, with room air-conditioners and related components contributing 81% of its total revenue. This collaboration, if finalized, could enhance Hisense’s market presence in India and align with Epack’s growth and production expansion strategies.
Epack Durable is a leading player in the consumer durables and electronics manufacturing sector in India, specializing in the production of a wide range of appliances, including air conditioners, refrigerators, washing machines, and more. Leveraging state-of-the-art facilities and innovative technologies, the company serves both domestic and international markets.
Epack Durable has earned a reputation for its commitment to quality, reliability, and sustainability, ensuring products meet the highest standards while being environmentally conscious. With a strong focus on research and development, the company continues to introduce cutting-edge solutions that cater to evolving consumer needs, positioning itself as a trusted partner for global and local brands.
Hisense Group, headquartered in Qingdao, China, is a multinational electronics and home appliances manufacturer known for its advanced technology and high-quality products. The company offers a diverse portfolio, including smart TVs, refrigerators, air conditioners, washing machines, and smartphones, among other innovative solutions.
Hisense’s global presence spans over 160 countries, supported by robust research and development centers that drive innovation in consumer electronics and home appliances. With a commitment to enhancing user experiences through intelligent design and energy efficiency, Hisense continues to be a trusted name in delivering superior products that meet the needs of modern households worldwide.
