Eveready

The fall in the company's stock price followed the announcement of its financial results for the second quarter of the current fiscal year

Saha indicated that the RTM should be amenable to take on other categories

Eveready Industries India announced a fourth-quarter profit of Rs 8 crore for the period ended March 2024, compared to a loss of Rs 14.39 crore in the corresponding quarter of FY'23, amidst a marginal dip in operational revenue to Rs 281 crore. However, sequentially, the profit saw a marginal decline compared to the December 2023 quarter. The company reported revenues for the full FY24 at Rs 1,314.2 crore, marking a slight decline of one per cent from Rs 1,327.7 crore in FY23. Profit After Tax (PAT) for the year saw a substantial increase of 231 per cent to Rs 66.7 crore in FY'24, against Rs 20.1 crore in FY'23. "Revenue remained moderated primarily due to weak rural demand impacting batteries and flashlights, and industry-wide price deflation affecting the lighting segment. We believe this to be a temporary phenomenon, and we remain optimistic that FY25 will see a turnaround," Suvamoy Saha, Managing Director at Eveready Industries, said.

Olympic champion Neeraj Chopra joined hands with Eveready as their new brand ambassador

Battery and flashlight major Eveready Industries India Ltd (EIIL) on Tuesday reported a 73.5 per cent increase in consolidated net profit to Rs 25.44 crore for the second quarter of the current fiscal on easing input cost. The city-based company had posted a net profit of Rs 14.73 crore in the corresponding quarter last fiscal, the company said in a regulatory filing. Revenue from operation during the July-September quarter was lower by three per cent to Rs 364.9 crore as compared to Rs 375.7 crore in the year-ago period. Operating EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin improved to 12.7 per cent from 11.4 per cent in the second quarter of the 2022-23 fiscal. Eveready Industries said the revenue performance was nearly flat owing to the distribution revamp, which is expected to normalise in the coming quarters. Battery-operated flashlights continued to degrow despite healthy growth in rechargeable category, it said. "Favourable trends in key

In a Q&A, the non-executive director who spearheaded the firm's change of hands from the Khaitan family to the Burmans, says he plans to sustain the current level of growth, if not exceed it

Company's focus shifts to topline growth under Burmans; may look at new categories later

Company says the charge will even out for the full year; revenue up 5% to Rs 376 cr

The Burmans are expected to appoint three non-executive directors to the Eveready board

Stocks to watch today: HDFC, slated to merge with HDFC Bank, raised Rs 4,000 crore through a paper with a maturity of 21 months; Jet Airways plans to lease 6 to 8 planes as part of re-launch.

The company has chalked out improvement plans for each of its business categories and separate business unit teams are working on the plans

On Thursday, the open offer in Eveready by Burman entities closed with the Burmans acquiring 14.3% shares. The total holding of the in the company now stands at 38.3%

Eveready Industries India Ltd is in the "midst of a transformation" of its business and has taken steps to address areas of weaknesses in its operations and the product portfolio

The promoter status for Burman family in Eveready Industries, in which it is vying to acquire an additional 26 per cent stake through a Rs 607-crore open offer, hinges on the nod by SEBI

Over the past decade, a change in consumer choice swept through the battery industry - the walkman lost its mojo, smartphones overtook cameras and batteries were tucked away in remotes and wall clocks

Firm is also undergoing a change of control, with the Burman Group intent on taking charge

The Burman group on acquiring control intends to be a "promoter" of Eveready

Auto stocks are likely to react to the monthly sales reported over the last two days. Tata Motors and M&M sales reported strong sales.

In a bid to take over control of dry cell battery major Eveready Industries, the Burman family, the promoters of Dabur, informed that it made an open offer for an additional 26 per cent of the company

A source says Amritanshu Khaitan is unlikely to seek reappointment as firm's MD. Khaitan declined to comment