Eveready Industries India Limited — Updates, 12-11-2024: Press Release

Eveready Industries India Ltd. reported its financial results for Q2 and H1 FY25. Total income from operations stands at ₹362.4 crore for Q2, reflecting a slight decline of 0.7% year-on-year, and ₹711.8 crore for H1, down 2.3%. However, gross margins improved, with Q2 gross margin at ₹169.8 crore (46.9%), up from 43.5% in Q2 FY24. Operating EBITDA rose to ₹47.7 crore, an increase of 3%, with margins improving to 13.2%. Profit after tax (PAT) reached ₹29.5 crore, showing a robust growth of 15.7% year-on-year.

The company has experienced a shift in product preference, with alkaline battery volumes rising by 75% year-on-year, enhancing market share. Flashlights, particularly rechargeable ones, showed strong growth (63%), supported by new product launches. Although lighting product value experienced some erosion, volumes have rebounded, indicating a positive trajectory.

Management emphasized ongoing strategic efforts, including enhancements in marketing and product quality, alongside the initiation of a new alkaline battery plant, promising a positive outlook for sustainable growth in the coming quarters.