EPACK Durable Announces Partnership with Symphony for Manufacturing of Air Coolers
EPACK Durable Ltd (BSE; NSE), India’s leading original design manufacturer of room air conditioners, small domestic appliances and Air cooler, is thrilled to announce Business Association for manufacturing of Air Coolers for world’s largest Air cooler brand - Symphony, as an OEM, thereby adding another feather its cap by addition of a marquee customer.
It is worth noting that Symphony, an Indian multinational company with a presence in over 60 countries, is renowned for its innovative approach, commitment to energy efficiency, and environmental stewardship.
By partnering with Symphony as its manufacturer, EPACK Durable aims to leverage its manufacturing capacity, improve capacity utilization, and diversify its customer base.
This collaboration enables EPACK Durable to edge Symphony's expertise and reputation in cooling solutions across residential, industrial, and commercial segments, further enhancing its product offerings.
The Indian Air cooler market was pegged at INR 2,980 crore in FY23 and poised to grow at a CAGR of 7.7% in FY24 – FY28, reaching an estimated value of INR 4,290 crores with 4.7 million units in volume, as per an industry report.
Given their affordability and suitability for the burgeoning middle-class population worldwide, air coolers are a cost-effective alternative to air conditioners, costing approximately 80% to 85% less.
Sharing his vision for the new product stream, Mr. Ajay DD Singhania, Managing Director and Chief Executive Officer at Epack Durable shared, “Having commenced our air cooler production in FY24, our strategic focus on growth and profitability aligns perfectly with India's standing as the world's largest air cooler market. This expansion enables us to tap into a vast and readily accessible market, enhancing efficiencies at our manufacturing facilities without requiring additional investment. Our focus is on diversifying our business segments and expanding our product portfolio to cater to a wider customer base. We are thrilled to partner with Symphony Limited, a global leader in air coolers, to further enrich our offerings and strengthen our market presence.”
Deepak Gupta, Vice-President – Sales and Marketing at EPACK Durable, added, “Special thanks to Mr. Achal Bakeri - MD Symphony Limited, for inviting us and announcing a manufacturing partnership for Air Coolers with Epack Durable to manufacture their latest range of Silent Air-coolers. This association is expected to create synergies in manufacturing, with EPACK leveraging its state-of-the-art production facilities to meet Symphony's high standards of quality and performance. By working together, we can address the evolving market needs more effectively, ensuring that customers receive the best possible products at competitive prices.”
Together, EPACK Durable and Symphony aim to set new benchmarks in the air cooler industry, driving growth and delivering value to customers and stakeholders.