iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Eveready Industries India soars after revenue rises 19% YoY in Q1 FY23

1 Aug 2022 , 03:12 PM

The company said that the healthy growth in topline performance was backed by volume gains, despite a market slow down due to inflationary conditions. Being the largest player in the dry cell batteries market, EIIL is leveraging its expertise to introduce new products in the market that will set the revenue momentum for the next few years. EBITDA fell 28.6% to Rs 42.1 crore in the first quarter from Rs 59 crore recorded in the same period last year. EBITDA margin in Q1 FY22 was 12.6% as against 20.9% in Q1 FY22. EIIL said that the performance in EBITDA factors the impact of raw material inflation which could not be fully passed on and a return of business overheads which had been curtailed in the previous year owing to the pandemic restrictions. Further, the company continues to take initiatives to keep costs under check and margins are thus expected to improve going forward. Net profit declined by 29.8% to Rs 21.9 crore in Q1 FY22 from Rs 31.2 crore in Q1 FY23, mirroring the trend in operating performance. The company is focussed on driving manufacturing efficiencies with prudent cost management across various verticals to further improve profitability. EIIL said that the company had prioritised the augmentation of product offering across flashlights and lighting; these have been the core focus areas of the management during the quarter. It had onboarded several professionals at mid-to-senior level, and within various functions to steer its growth momentum with focus on driving healthy gains across all categories. Management of commodity inflation and vendor base optimisation received critical address during the quarter. Suvamoy Saha, managing director, said: ?We are glad to have commenced the year on a positive note with a robust growth in revenues, at 19%. This performance was realised, despite the challenges witnessed during the quarter on account of inflationary conditions. Given the strong recall enjoyed by Eveready we are making all efforts to create momentum across business segments through an enhanced portfolio that will be supported by our core strengths i.e., sustained brand communication and effective distribution. Eveready Industries India manufactures batteries, flashlights and lighting. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.