Six people have been injured and two have been airlifted to hospital following an explosion at a business in Shepparton North.

Emergency services were called to reports of a shredder explosion at a business on the Goulburn Valley Highway at about 8am this morning.

A man in his 40s was airlifted to The Alfred in a critical condition and a man in his 60s was also airlifted to the hospital in a serious condition.

Four others — two men and two women — were taken by road to Goulburn Valley Health. All are in stable conditions.