The company announced a 23.3% year-on-year increase in net profit to ₹37 crore for the first quarter of FY27, with revenue from operations rising 9% to ₹407.7 crore.
EBITDA surged 14% year-on-year to ₹61.2 crore, resulting in an EBITDA margin of 15%, compared to 14.3% the previous year.
The company noted that margins held steady despite inflationary trends in zinc, other raw materials, and foreign exchange-linked costs. It credited its profitability to strategic pricing actions, effective procurement, forex management, and disciplined cost practices.
The battery segment experienced an 11.9% growth in revenue during the quarter, bolstered by strong performance in alkaline batteries and a rebound in carbon zinc batteries. Alkaline battery volumes surged by about 48%, while carbon zinc volumes achieved approximately 1% growth, as indicated in a press release filed at NSE.
Eveready’s Jammu facility, touted as India’s only operational alkaline battery production site, has initiated commercial production. The company stated that this plant aims to promote import substitution and local manufacturing, anticipating long-term cost advantages and operational leverage as utilization increases.
Rechargeable flashlights grow; lighting segment expands
The flashlight segment demonstrated mixed results. Revenue from rechargeable flashlights rose over 20%, reflecting a growing preference for rechargeable products. However, overall segment revenue declined roughly 6.7%, primarily due to the delayed onset of the monsoon, which dampened seasonal demand for conventional battery-operated flashlights.
The lighting segment saw a 13.7% increase, driven by strong sales of LED bulbs, emergency lighting, and accessories. The company also reported that price erosion in this segment appeared to be stabilizing during the quarter. Throughout this period, Eveready continued to broaden its product range, including launching the rechargeable SHOR torch with an animal alarm for farm protection and the Xtra Bright LED bulb for emergency lighting.
CEO Anirban Banerjee stated that the company continues to experience healthy top-line growth across various channels and key segments, while commodity prices, input costs, and currency fluctuations remain significant concerns.
Executive Director and CFO Bibek Agarwala indicated that margin stability was bolstered by pricing strategies, forex management, and cost discipline, while the Jammu facility is expected to enhance efficiency as it ramps up production.
Eveready Industries India’s shares closed down 1.18% at ₹353.10 on August 7 at NSE, prior to the earnings announcement.
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