Will EPack Prefab Technologies capture over 10% of India’s PEB market?

This small-cap stock, engaged in providing complete turnkey pre-engineered building solutions, including designing, manufacturing, installation, and erection of steel buildings and prefabricated structures, is in focus after the company announced a market share target of over 10 percent in the medium term.

With a market capitalization of Rs. 3,174.28 crore, the shares of EPack Prefab Technologies Limited were currently trading at Rs. 316 per equity share, down nearly 2.15 percent from its previous day’s close price of Rs. 322.95. 

Management Guidance

EPack Prefab Technologies Limited expects its upcoming AP sandwich panel line to add nearly Rs. 100 crore in revenue within the next five to six months, supporting strong near-term growth momentum. Management also aims to expand margins while maintaining EBITDA in the 10.5-11.5 percent range.

Over the medium term, Epack Prefab Technologies Limited targets a market share of over 10 percent, up from the current 5-5.5 percent. The company also plans to improve ROE and ROCE to 23-25 percent. 

Additionally, it seeks to increase the contribution of exports, which currently make up 1.5 to 2 percent of its revenue. The majority of these exports are from SAARC nations, including Bhutan, Sri Lanka, Bangladesh, and Nepal.

Capex Pipeline

Epack Prefab Technologies Limited has earmarked around Rs. 160 crore from its IPO proceeds for expansion. Of this, Rs. 58 crore is being invested in a brownfield structural steel capacity expansion at the Mambattu facility, which is expected to begin commercial production in the fourth quarter of the current financial year.

The remaining Rs. 102 crore is allocated to a greenfield sandwich panel project at Ghiloth. This new facility is scheduled to start commercial production from the second quarter of the next financial year, further strengthening the company’s manufacturing capabilities.

Capacity Expansion

Epack Prefab Technologies Limited is expanding its capacity significantly with 800,000 SQM of continuous sandwich insulated panel capacity each at Ghiloth and Mambattu. Additionally, the company is adding 25,500 MTPA of pre-engineered building capacity in Mambattu and 11,300 MTPA in Ghiloth, strengthening overall production capability.

Future Outlook

Epack Prefab Technologies Limited aims to strengthen its global footprint by expanding into emerging markets such as Bhutan, Oman, Nepal, and Bangladesh. The company is also building a wider sales network across Central Asia, West Asia, and Southeast Asia to capture growing demand. Its certified PUF sandwich insulated panels position it well for the rising green construction segment.

To support this expansion, Epack is investing in technology infrastructure to improve innovation and efficiency. An in-house design facility is helping reduce project timelines, while a strong focus on quality, cost control, and timely delivery is expected to drive repeat business and long-term growth.

Manufacturing Facilities & Capacity

Epack Prefab Technologies Limited operates three strategically located manufacturing facilities, enabling efficient service to customers across India. The company has built strong production capabilities with a total PEB capacity of 1,33,922 MTPA and sandwich panel capacity of 13,10,000 SQM. It also maintains 8,400 MTPA of EPS packaging capacity to support diverse industry needs.

In H1 FY26, Epack achieved capacity utilization of 68.8 percent in Prefab and 32.7 percent in sandwich panels, demonstrating steady operational momentum. With over 1.9 million SQM of land across its facilities, the company is well-positioned for future expansion and enhanced manufacturing output.

Client Base

EPack Prefab Technologies Limited has built a strong and diverse client base across leading industries. The company has served well-known brands such as Avaada, PepsiCo, Haier, Safari, CenturyPly, GMR, and India Glycols. Its customer portfolio also includes Reliance Industries, Godrej, Asahi India Glass, Airports Authority of India, Gold Plus Float Glass, JK Tyre, and the Aditya Birla Group, reflecting wide market trust.

Order Book

Epack Prefab Technologies Limited showed strong project execution in FY25. The company started with an order book of Rs. 630.2 crore and added Rs. 1239 crore during the year. It successfully executed orders worth Rs. 953.2 crore, demonstrating quick turnaround capability. The company ended the year with a healthy pending order book of Rs. 916 crore as of 31 March 2025.

In H1 FY26, Epack Prefab Technologies Limited added new orders worth Rs. 655.6 crore, including major orders from Premier Energies, Rayzon, and Royal Enfield. The company executed Rs. 651.6 crore during the same period, reflecting strong project delivery. With pending orders increasing slightly to Rs. 920 crore by 30 September 2025.

Revenue Mix

In FY25, Epack Prefab Technologies delivered strong revenue of Rs. 1,133.9 crore, driven mostly by the Prefab segment at Rs. 953.2 crore and supported by Rs. 180.7 crore from the EPS business. Regionally, sales were well balanced with North & Central contributing 33 percent, South 24 percent, West 32 percent, and East 11 percent, reflecting steady demand across India.

In H1 FY26, revenue stood at Rs. 729.3 crore, with Prefab contributing Rs. 651.7 crore and EPS Rs. 77.6 crore. Sales showed a shift toward the South region, accounting for 50 percent, followed by North & Central at 23 percent, West at 24 percent, and East at 3 percent.

Company Overview

Epack Prefab Technologies Limited was established in 1999 and is headquartered in Greater Noida, India. The company specializes in turnkey pre-engineered building solutions, including design, manufacturing, installation, and erection of pre-engineered steel buildings and prefabricated modular structures.

The company serves diverse sectors such as industrial, commercial, infrastructure, and institutional markets. Its product portfolio includes pre-engineered buildings (PEBs), prefabricated structures, light gauge steel framing, sandwich insulated panels, and modular solutions. 

Epack Prefab also manufactures expanded polystyrene (EPS) packaging products for construction, packaging, and consumer goods industries. With three manufacturing facilities in India, Epack benefits from advanced infrastructure and a 252-member project execution team. Its projects extend to 30 Indian states and union territories and exports to neighbouring countries like Nepal and Bhutan.

Recent quarter results

Coming into financial highlights, EPack Prefab Technologies Limited’s revenue has increased from Rs. 268 crore in Q2 FY25 to Rs. 434 crore in Q2 FY26, which has grown by 61.94 percent. The net profit has also grown by 107.14 percent from Rs. 14 crore in Q2 FY25 to Rs. 29 crore in Q2 FY26. EPack Prefab Technologies Limited’s revenue and net profit have grown at a CAGR of 55.43 percent and 75.17 percent, respectively, over the last three years.

In terms of return ratios, the company’s ROCE and ROE stand at 23.7 percent and 22.8 percent, respectively. EPack Prefab Technologies Limited has an earnings per share (EPS) of Rs. 7.65, and its debt-to-equity ratio is 0.32x.

Written By – Nikhil Naik

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