Eveready Industries India

Company says the charge will even out for the full year; revenue up 5% to Rs 376 cr

Battery and flashlights maker Eveready Industries India Ltd on Monday reported a decline of 27.48 per cent in its consolidated net profit at Rs 21.85 crore for the quarter ended June 30, 2022. The company had posted a net profit of Rs 30.13 crore in the April-June period a year ago, Eveready Industries said in a regulatory filing. Its revenue from operations was up 18.87 per cent to Rs 335.38 crore during the quarter under review as against Rs 282.14 crore in the year-ago period. Eveready Industries, in which the Burman family were classified as promoters last month, reported total expenses of Rs 310.50 crore in Q1 FY 2022-23, up 27.16 per cent from Rs 244.17 crore earlier. Shares of Eveready Industries India Ltd on Monday were trading at Rs 345.50 on BSE, up 8.90 per cent from the previous close.

Stocks to watch today: Mindtree, Tata Metaliks will report their June quarter 2022 (Q1FY23) results on Wednesday, July 13; NMDC will be removed from the Nifty CPSE index post hive off of NMDC Steel.

The company has chalked out improvement plans for each of its business categories and separate business unit teams are working on the plans

On Thursday, the open offer in Eveready by Burman entities closed with the Burmans acquiring 14.3% shares. The total holding of the in the company now stands at 38.3%

Eveready Industries India Ltd is in the "midst of a transformation" of its business and has taken steps to address areas of weaknesses in its operations and the product portfolio

The promoter status for Burman family in Eveready Industries, in which it is vying to acquire an additional 26 per cent stake through a Rs 607-crore open offer, hinges on the nod by SEBI

The company had posted a net loss of Rs 442.53 crore in the January-March period a year ago, it said in a regulatory filing

A disclosure to the stock exchanges on Monday showed 88,683 shares translating to 0.12 per cent were bought on April 13 by Burman Group entities

Move follows Amritanshu Khaitan's resignation; Saha has been around for long. Prior to being made Jt MD in August, he was a whole-time director of the firm

For the first time, Khaitans won't be represented on firm's board since they acquired Union Carbide India in 1993 and renamed it Eveready Industries India. But they will continue to hold 4.84% stake

We plan to clean the company and run it in a professional manner: Mohit Burman

Company needs direction and the brand has immense potential: Mohit Burman

A source says Amritanshu Khaitan is unlikely to seek reappointment as firm's MD. Khaitan declined to comment

Eveready's Q1 PBT rises 234% on upward price revision, better product mix

The Burmans of Dabur become the biggest shareholder in India's largest dry cell battery maker as the Kolkata-based promoters struggle to ring-fence their tea-to-engineering group

Eveready managing director, Amritanshu Khaitan did not confirm a deal with Duracell but said that the company continues to look at opportunities and discuss various joint ventures or strategic tie-ups

Battery division sell-off may be delayed

Production in this factory at Moula Ali Industrial Development Area in Hyderabad had stopped in 2010 owing to economic unviability

The stock rallied 18% to Rs 214 on the BSE in early morning trade on back of heavy volumes.