Epack Durable slipped 2.50% to Rs 437 after the company informed that officials from Customs conducted six-hour search at its manufacturing unit in Bhiwadi, Rajasthan.
The Senior Intelligence Officer and Inspectors of Special Intelligence and Investigation Branch (SIIB), Office of the Commissioner of Customs (Preventive), Jaipur, initiated a search on 2 December 2024 at 1:00 P.M. at Bhiwadi unit and concluded their visit on the same day at 7:00 P.M.During this period, the company extended full cooperation to SIIB officials by providing necessary assistance and documentation as requested. Following a thorough examination of the manufacturing plant, the SIIB officials concluded their visit without seizing any documents or items, EPACK Durable stated.
The firm further added that this has not impacted the normal operations of the company, and the authority has not notified of any financial implication/impact (monetary or otherwise).
EPACK Durable is an original design manufacturer (ODM) of room air conditioners (RAC). The company also manufactures components such as sheet metal parts, injection-molded parts, cross-flow fans, and PCBA components that are actively used in the production of RACs.
Shares of Epack Duable debuted on the stock market on 30 January 2024. The scrip was listed at Rs 225, exhibiting a discount of 2.17% to the issue price of 230.
The companys consolidated net loss increased to Rs 8.49 crore in Q2 FY25 from a net loss of Rs 6.08 crore in Q2 FY24. Revenue from operations surged 111.73% YoY to Rs 377.10 crore in the September 2024 quarter.
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