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Eveready Industries India (EIIL) rose 8.31 per cent to Rs 343.60 after the total income increased to Rs 335.4 crore in the first quarter of FY23 from Rs 282.1 crore over the same period of last year.
As per the company’s statement, the healthy growth in performance by volume gains, EIIL is leveraging its expertise to introduce new products in the market that will set the revenue momentum for the next few years. EBITDA fell 28.6 percent to Rs 42.1 crore in the Q1FY23 from Rs 59 crore recorded in Q1FY22. EBITDA margin in Q1 FY23 was 12.6 per cent against 20.9 per cent in Q1 FY22.
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Suvamoy Saha, managing director, said: “We are glad to have commenced the year on a positive note with robust growth in revenues, at 19 per cent. This performance was realised, despite the challenges witnessed during the quarter because of inflationary conditions. Given the strong recall enjoyed by ‘Eveready’, we are making all efforts to create momentum across business segments through an enhanced portfolio that will be supported by our core strengths, i.e., sustained brand communication and effective distribution.”
