Eveready Industries India Ltd (EIIL) has reported a net profit of ₹29.5 crore for the second quarter ended September 30, 2024, marking a 15.7% increase from ₹25.5 crore in the same quarter last year. The company’s revenue saw a marginal decline of 0.7% to ₹362.4 crore compared to ₹364.9 crore in Q2 FY24. The battery maker’s operational performance showed improvement with operating EBITDA rising 3% to ₹47.7 crore, while the EBITDA margin expanded to 13.2% from 12.7% in the corresponding quarter.
The company’s alkaline battery segment emerged as a bright spot, now constituting 5.4% of the battery mix compared to 3.3% in Q2 FY24, registering a 75% volume growth year-on-year. While the flashlight division recorded double-digit growth led by the rechargeable segment, the traditional Carbon Zinc battery segment faced headwinds due to slow rural demand. The lighting segment continued to experience value erosion, albeit at a slower rate than previous periods.
For the first half of FY25, Eveready recorded a revenue of ₹711.8 crore, down 2.3% from the previous year, while net profit increased by 17.1% to ₹58.9 crore. The company’s gross margin improved to 46.1% from 42.2% in H1 FY24, with operating EBITDA growing by 8.2% to ₹97.5 crore. These results reflect the company’s ongoing transition in product mix, with a greater emphasis on premium segments despite challenges in rural markets.
