Eveready Industries India Ltd
Incorporated in 1934, Eveready Industries India Limited is one of the leading manufacturers of dry cell batteries in India and offers products such as batteries, flashlights, lighting solutions, and home appliances. [1]
- Market Cap ₹ 2,393 Cr.
- Current Price ₹ 330
- High / Low ₹ 475 / 272
- Stock P/E 31.7
- Book Value ₹ 65.0
- Dividend Yield 0.46 %
- ROCE 16.9 %
- ROE 19.4 %
- Face Value ₹ 5.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 16.4%
Cons
- The company has delivered a poor sales growth of 1.94% over past five years.
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,153 | 1,279 | 1,324 | 1,357 | 1,456 | 1,507 | 1,221 | 1,249 | 1,207 | 1,328 | 1,314 | 1,345 | 1,393 | |
| 1,063 | 1,155 | 1,201 | 1,223 | 1,352 | 1,382 | 1,100 | 1,024 | 1,088 | 1,218 | 1,173 | 1,192 | 1,236 | |
| Operating Profit | 91 | 124 | 123 | 134 | 104 | 124 | 121 | 225 | 119 | 110 | 141 | 152 | 158 |
| OPM % | 8% | 10% | 9% | 10% | 7% | 8% | 10% | 18% | 10% | 8% | 11% | 11% | 11% |
| 9 | 4 | 8 | 9 | 20 | 12 | 198 | -628 | 5 | 9 | 2 | 1 | -41 | |
| Interest | 41 | 34 | 31 | 24 | 29 | 55 | 71 | 52 | 48 | 57 | 32 | 26 | 23 |
| Depreciation | 42 | 32 | 14 | 15 | 19 | 22 | 29 | 27 | 27 | 27 | 30 | 30 | 29 |
| Profit before tax | 16 | 62 | 86 | 105 | 76 | 60 | 219 | -482 | 48 | 35 | 81 | 99 | 64 |
| Tax % | 18% | 21% | 19% | 11% | 30% | 20% | 19% | -35% | 4% | 20% | 17% | 16% | |
| 14 | 49 | 69 | 94 | 53 | 48 | 178 | -312 | 46 | 28 | 67 | 82 | 46 | |
| EPS in Rs | 1.87 | 6.73 | 9.50 | 12.87 | 7.31 | 6.58 | 24.53 | -42.86 | 6.39 | 3.80 | 9.19 | 11.34 | 6.30 |
| Dividend Payout % | 267% | 0% | 21% | 0% | 21% | 0% | 0% | 0% | 0% | 0% | 11% | 13% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 1% |
| 5 Years: | 2% |
| 3 Years: | 4% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 10% |
| 3 Years: | 21% |
| TTM: | 0% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 13% |
| 3 Years: | -2% |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | 24% |
| 5 Years: | 31% |
| 3 Years: | 16% |
| Last Year: | 19% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 |
| Reserves | 557 | 588 | 170 | 253 | 306 | 340 | 519 | 209 | 254 | 283 | 350 | 425 | 436 |
| 225 | 228 | 200 | 216 | 264 | 408 | 394 | 447 | 396 | 398 | 307 | 312 | 357 | |
| 289 | 248 | 263 | 300 | 422 | 423 | 307 | 330 | 253 | 265 | 270 | 314 | 331 | |
| Total Liabilities | 1,108 | 1,101 | 669 | 805 | 1,029 | 1,207 | 1,256 | 1,022 | 939 | 983 | 963 | 1,088 | 1,161 |
| 730 | 696 | 222 | 334 | 357 | 343 | 328 | 314 | 305 | 310 | 293 | 305 | 303 | |
| CWIP | 14 | 28 | 22 | 6 | 3 | 5 | 3 | 3 | 4 | 1 | 8 | 80 | 128 |
| Investments | 0 | 0 | 0 | 0 | 0 | 7 | 5 | 1 | 0 | 8 | 8 | 8 | 8 |
| 363 | 376 | 425 | 465 | 668 | 853 | 919 | 704 | 630 | 664 | 654 | 695 | 722 | |
| Total Assets | 1,108 | 1,101 | 669 | 805 | 1,029 | 1,207 | 1,256 | 1,022 | 939 | 983 | 963 | 1,088 | 1,161 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 93 | 72 | 125 | 82 | 81 | 70 | 133 | 173 | 134 | 37 | 154 | 130 | |
| -6 | -29 | -56 | -68 | -100 | -145 | -15 | -106 | -55 | -19 | -23 | -95 | |
| -90 | -37 | -80 | -5 | -37 | 76 | -114 | -4 | -108 | -59 | -127 | -36 | |
| Net Cash Flow | -3 | 6 | -11 | 9 | -56 | 2 | 4 | 63 | -29 | -42 | 4 | -2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 16 | 14 | 19 | 23 | 30 | 33 | 15 | 10 | 11 | 28 | 32 | 28 |
| Inventory Days | 122 | 117 | 105 | 124 | 121 | 95 | 104 | 131 | 122 | 115 | 122 | 143 |
| Days Payable | 109 | 89 | 88 | 96 | 124 | 98 | 89 | 95 | 81 | 74 | 82 | 102 |
| Cash Conversion Cycle | 28 | 42 | 36 | 50 | 27 | 30 | 30 | 46 | 51 | 69 | 72 | 68 |
| Working Capital Days | -37 | -18 | -3 | 2 | 9 | 33 | 87 | -38 | -24 | 7 | 14 | 18 |
| ROCE % | 6% | 11% | 18% | 28% | 18% | 19% | 15% | 25% | 14% | 13% | 16% | 17% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
11 Nov - Q2 FY26 earnings transcript: revenue +6.7%, EBITDA 12.7%, PAT -₹7.9cr; ₹15cr arbitration, ₹22.7cr ex-gratia.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
6 Nov - Audio recording of Eveready Q2 FY26 earnings conference call (6 Nov 2025) available on company website.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
6 Nov - Newspaper Publication - unaudited financial results - 30th September 2025
- Announcement under Regulation 30 (LODR)-Investor Presentation 5 Nov
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Announcement under Regulation 30 (LODR)-Change in Directorate
5 Nov - Board approved Q2/H1 results; appointed Aditya Burman; two IDs reappointed; CCI Rs171.55 crore penalty under appeal.
Annual reports
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Financial Year 2025
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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May 2025TranscriptPPT
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Feb 2025TranscriptPPT
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Nov 2024TranscriptPPT
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Aug 2024TranscriptPPT
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May 2024TranscriptPPTREC
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Feb 2024TranscriptPPT
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Nov 2023TranscriptPPT
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Aug 2023TranscriptPPT
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May 2023TranscriptPPT
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Feb 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Nov 2022TranscriptPPT
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Aug 2022TranscriptPPT
Products
The Company’s products include - Dry cell and rechargeable batteries under the brand names 'Eveready', 'Powercell' and 'Uniross'; 'Eveready' and 'Powercell' Flashlights and lanterns; 'Eveready' and 'Powercell' LED Bulbs and luminaires; 'Eveready' Small home appliances and Confectioneries under the brand name “Jollies”. [1]