Battery and flashlights maker Eveready Industries India Ltd on Saturday reported an increase of 18.1 per cent in its consolidated net profit at Rs 29.36 crore in the first quarter ended June 2024.

Eveready Industries Q1 results: PAT rises 18% to 29.3 cr, revenue dips 4%

Eveready Industries India saw an 18.1% increase in Q1 net profit, reaching Rs 29.36 crore, while revenue declined by 3.9% to Rs 349.37 crore. The company attributed the revenue dip to multiple factors, including a high base effect and a slowdown in some products, but highlighted gains from premiumisation and innovation.

Eveready Industries Q1 Results: Net profit rises 18% YoY to 29.3 crore, revenue dips 4%

Eveready Industries India consolidated net profit rises 18.10% in the June 2024 quarter

Eveready introduces the Eveready Siren Torch, a safety flashlight with a loud alarm for women, elderly, and farmers.

Eveready Industries unveils siren torch for women, elderly

Eveready Industries India announced a fourth-quarter profit of Rs 8 crore for the period ended March 2024, compared to a loss of Rs 14.39 crore in the corresponding quarter of FY′23, amidst a marginal dip in operational revenue to Rs 281 crore.

Eveready Q4 Result: Net Profit Rises To Rs 8 Crore Amid Sluggish Rural Demand

Commenting on the result, Managing Director Suvamoy Saha said: “It has been an endeavour to bring salience to under-indexed areas within batteries and flashlights and over here our teams have made good progress.

Eveready Industries Q1 Results: PAT rises 14% to Rs 24.86 cr, revenue up 8%

The company had posted a net profit of Rs 21.85 crore in the April-June period a year ago, Eveready Industries said in a regulatory filing.

Eveready Industries Q1 profit up 13.8% to Rs 24.86 crore, revenue up 8.4% to Rs 363.57crore

Profit After Tax during Q1 showed healthy improvement on the back of operating growth, the company said.

Eveready Industries Q1 Results: Profit Up 13.77%, Revenue Rises 8.4%

Eveready expects to break-even in consumer lighting biz in FY24, plans to explore new avenues for diversification. It aims to premiumise offerings, grow market share in flashlights segment to achieve higher growth. It holds 54% share in battery market, plans to grow premium segment share to 10%. Ai…

Eveready Industries expects lighting business to break even in FY24

The immediate resistance for the Eveready Industries stock is at ₹355. The chances that the stock will break this resistance in the coming days are high.

Stock to buy today: Eveready Industries (₹343.95)

Eveready Industries India Ltd expects to expand its gross margin and achieve an EBITDA margin of nearly 10% in FY24, driven by growth across businesses and the premiumisation trend.

Eveready Industries aims for higher EBITDA margin in FY24, focusing on growth and premiumisation

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

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Red flags

Eveready Industries India Limited is engaged in the business of marketing of fast moving consumer goods (FMCG), such as dry cell batteries, rechargeable batteries, flashlights, packet tea and general lighting products.