Eveready Industries India Ltd. News, Corporate filings and Earnings/Conference Calls

Non-Durable Household products company Eveready Industries India announced Q4FY24 & FY24 results: Financial Highlights: Revenue: Revenues for FY24 were reported at Rs 1,314.2 crore, marking a slight decline of 1.0% from Rs 1,327.7 crore in FY23. Gross Margin: Gross margin significantly improved to Rs 567.8 crore in FY24, up by 13.3% from Rs 501.0 crore in FY23. Operating EBITDA: Operating EBITDA rose sharply by 27.4% to Rs 140.3 crore in FY24, compared to Rs 110.1 crore in FY23. Profit After Tax (PAT): PAT saw a substantial increase of 231.5%, with FY24 figures reaching Rs 66.7 crore, against Rs 20.1 crore in FY23. Gross Margin Percentage: Gross margin as a percentage of income increased to 43.2% in FY24 from 37.7% in FY23. Operating EBITDA Margin: Operating EBITDA margin widened to 10.7% in FY24, up from 8.3% in the previous fiscal year. PAT Margin: The PAT margin also improved, reaching 5.1% in FY24, a significant jump from 1.5% in FY23. Commenting on the performance, Suvamoy Saha, Managing Director at Eveready Industries India Ltd., said, "“We are glad to have ended the fiscal year 2024 on a robust note, achieving 27% and 232% growth in EBITDA and PAT respectively. This reflects our overall initiatives on driving premiumization, continuous innovation and efficiency enhancements. Revenue on the other hand remained moderated primarily due to weak rural demand impacting batteries and flashlights, and indutry-wide price deflation affecting the lighting segment. We believe this to be a temporary phenomenon and we remain optimistic that FY25 will see a turn around. Similarly, we maintain that while the transformation to a revamped RTM has caused ustemporary pain, it has been a good initiative to modernise the company and it will pay rich dividends in the times to come. Our initiatives beyond the traditional strength areas, for example, with the new range of ‘Ultima’ alkaline batteries, rechrageable flashlights and efforts on leveraging alternative channels, brought forth very encouraging results. Also, it is very encouraging to us that the battery segment (traditional batteries included) continued to hold on to a 53% plus market share. As for the coming times, we see each of our business categories, batteries, flashlights and lighting to provide the company with a strong growth momentum aided by the strong consumer franchise we have built up over the years offering quality products and services addressing consumer needs.” Result PDF

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Eveready Industries India Ltd. News, Corporate filings and Earnings/Conference Calls

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