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Eveready aims at 15 percent topline growth and 35 percent jump in profitability

Dry cell battery major Eveready Industries India Ltd is aiming at a 10-15 percent topline growth and 30-35 percent jump in profitability during the current fiscal, a top official of the company said today.


PTI Last Updated at 06 Aug 2018, 18:08 IST India
Eveready aims at 15 percent topline growth and 35 percent jump in profitability

Dry cell battery major Eveready Industries India Ltd is aiming at a 10-15 percent topline growth and 30-35 percent jump in profitability during the current fiscal, a top official of the company said today.

"We are looking forward to a 10-15 percent rise in topline with the normal monsoon, demand traction and elimination of import of low-end batteries from China and South East Asian countries. We hope the bottom line will grow by 30-35 percent with better margins, cost-saving measures, softer zinc prices, lowering losses from new businesses," Eveready managing director Amritanshu Khaitan told PTI.

In 2017-18, Eveready's operating income was Rs 1,456 crore and net profit stood at Rs 54.74 crore.

On dry cell battery business, Khaitan said he is expecting an additional growth of about 15 percent as Chinese batteries might fail the mandatory quality test that will fully come into effect from October 2018.

Some low-quality batteries are being imported which directly hits the company's pricing, he said.

However, it would be subject to effective administration at the ports of entry by concerned authorities, to check such imports and benefit the organized players.

Dry cell and flashlights account for 70 percent of its revenues. Eveready sells over 1.2 billion batteries and 25 million flashlights a year.

Khaitan also said that the company is passing full benefits of Goods and Services Tax (GST) reduction to customers. Recently, the government reduced the GST rate on appliances from 28 percent to 18 percent.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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