You are here: Home » Companies » Results
Business Standard

Eveready Industries PBT rises 234% to Rs 30.29 crore in June quarter

Eveready's Q1 PBT rises 234% on upward price revision, better product mix

Eveready | Eveready Industries | Lockdown

Ishita Ayan Dutt  |  Kolkata 

Eveready said that the situation in the battery segment should continue to look positive as full effect of implementation of the BIS standards comes into force

Industries India, the country’s largest dry cell battery maker, has recorded a 234 per cent increase in profit before tax (PBT) to Rs 30.29 crore in the June quarter on the back of upward revision in prices and better product mix even as turnover fell.

Operating income for the quarter fell by 18 per cent to Rs 263.45 crore primarily because of a complete stoppage/disruption of economic activities during the initial phases of the countrywide Net profit during the quarter increased 245 per cent to Rs 23.61 crore.

said battery and flashlight volumes for the quarter were lower than that in the corresponding quarter of the previous year as optimal sales could not be achieved in April 2020 due to restrictions. However, in May and June, battery volumes picked up and was higher by around 12 per cent over corresponding months of the previous year. Flashlight volumes, too, during the time were higher by 6 per cent. But overall volumes during the quarter were lower due to disruptions in April.

ALSO READ: HLFL in talks to raise up to $100 million to support growth: Sachin Pillai

Ebitda margin for the battery segment was at 21.9 per cent on a turnover of Rs 176.9 crores during the quarter, mainly due to favourable commodity prices coupled with upward pricing revisions taken to mitigate the impact of a 7 per cent rupee depreciation and general inflation, said. The flashlight segment had a margin of 18.7 per cent during the quarter on a turnover of Rs 50.2 crores. However, Eveready’s lighting and appliance segments turnover was down.

Eveready said the situation in the battery segment should continue to look positive as full effect of implementation of the BIS standards comes into force.

The flashlight segment was also likely to benefit as many of the unorganised market players were adversely impacted by cash flow constraints arising out of economic disruption, it added. Eveready mentioned in its notes to accounts, that a promoter group level restructuring was underway to monetise assets to meet various liabilities of the (part of the promoter group).

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, September 09 2020. 17:56 IST