Eveready Industries India Ltd. Reports Q3 FY25 Financial Results

Kolkata, February 5, 2025 – Eveready Industries India Ltd. (NSE: EVEREADY, BSE: 531508, CSE: 000029) announced its standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2024.

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Key Financial Highlights (Standalone)​

The company reported a YoY revenue growth of 9.3% for Q3 FY25, reaching ₹333.29 crore, while net profit rose 55.7% YoY to ₹13.05 crore. On a QoQ basis, revenue declined by 8.1%, with net profit seeing a sharp decline of 55.8% QoQ.

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Key Financial Highlights (Consolidated)​

The consolidated results mirror the standalone performance, with YoY revenue growth of 9.4% and net profit growth of 55.8% YoY. However, QoQ declines were significant, with revenue down 7.9% and net profit falling 55.7%.

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Segment Performance​

Eveready Industries operates in the Consumer Goods segment, focusing on dry cell batteries, rechargeable batteries, flashlights, and lighting products. The segment continues to be the primary revenue driver.

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Key Developments & Regulatory Matters​

• Competition Commission of India (CCI) Penalty:
  • The CCI imposed a penalty of ₹171.55 crore for alleged contravention of the Competition Act, 2002.
  • Eveready has appealed the ruling before the National Company Law Appellate Tribunal (NCLAT), which has granted a stay on the penalty, subject to a 10% deposit.
  • The company maintains that due to litigation uncertainty, no provision has been made for this penalty.

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Management Commentary​

Suvamoy Saha, Managing Director, Eveready Industries India Ltd., stated:
"Despite challenging market conditions, we have achieved consistent revenue growth on a YoY basis. Our strategic focus remains on innovation and expanding market penetration. However, the regulatory headwinds pose a temporary challenge, and we are working towards a resolution in our appeal with the NCLAT."

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Strategic Outlook​

• Expansion in Lighting and Battery Segments: The company aims to enhance its footprint in the rechargeable battery and LED lighting market.
• Cost Optimization Measures: Initiatives to improve margins are being implemented to combat rising raw material costs.
• Regulatory Uncertainty: The pending CCI penalty case remains a key risk factor.

Eveready remains a market leader in dry cell batteries, leveraging its strong brand presence and distribution network.

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Conclusion​

Eveready Industries delivered strong YoY growth, but QoQ declines highlight short-term pressures. The company’s litigation risk with the CCI penalty remains a concern. Investors will be closely watching cost efficiency initiatives and regulatory developments in the coming quarters.