Eveready sees profitability growing 30-35pc in FY'19

Press Trust of India  |  Kolkata 

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

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

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 per cent 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 organised players.

Dry cell and flashligts account for 70 per cent of its revenues. 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 per cent to 18 per cent.

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

First Published: Mon, August 06 2018. 18:00 IST