Eveready Industries Q2 net up at Rs 3.70 cr
Nov 01 2013 , Kolkata
“The company had significant adverse impact on input costs on account of the steep rupee depreciation in the recent past. However, it was quick in passing on the impact to the market by taking up prices of batteries and flashlights. Significantly, market has also absorbed the price increases,” said top company officials.
All product categories of the company – particularly batteries – saw healthy turnover growth. The net sales of the company has gone up from Rs 286.64 crore in Q2, 2012-13 to Rs 319.34 crore, up 11.4 per cent. The EBIDTA has gone up from Rs 19.69 crore to Rs 25.72 crore, up 30.6 per cent, which is a reflection of better price realisation and also due to cost conservation.
Eveready, market leader of batteries and flashlights in the country, has recently rolled out a whole new range of products including market leader of batteries and flashlights and this, according to company spokesperson, has paid off. Eveready, at present, sells more than 1.2 billion batteries and 25 million flashlights.
Given the operational improvement and strict working capital management, the company expects to reduce its borrowings substantially during the current financial year, which will have positive impact on future profitability through lower interest costs.