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CRISIL has issued an advisory stating it is awaiting adequate information from Epack Durable to complete the rating review

ICICIdirect Research 29 Jun 2026 DISCLAIMER

News: As per exchange fillings, CRISIL has issued an advisory stating it is awaiting adequate information from Epack Durable to complete the rating review. Crisil has revised the long term rating to Crisil BB /Stable (Issuer not cooperating) from ‘Crisil BB+/Stable (Issuer not cooperating). The agency highlighted information availability risk and clarified that the rating is arrived at without any management interaction and is based on best available or limited or dated information

View: The advisory indicates the rating review remains pending due to insufficient information from the company. This creates negative perception on the company while uncertainty around the credit assessment could weigh on investor sentiment. Meanwhile, the company continues to be rated with ICRA at [ICRA]A (stable) for long term and [ICRA]A2+ for short term. Net debt to equity ratio for Epack durable stood at ~0.5x for FY25, 0.8x for FY26 which remains manageable and had increased as per higher working capital required post inventory overhang issue at industry level. The stock trades at 1.2x on TTM sales which factors considerable part of negatives while capacity utilisation is expected to increase, considering the delayed monsoon and client additions

Impact: Neutral

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