Eveready Industries India will be worth watching out for on Monday

Eveready Industries India has commenced the commercial production at its new unit at the industrial growth centre at Matia in Goalpara (Assam). The company’s new production facility will have a capacity of 500 million batteries and 9 million LED flashlights per annum.

Eveready Industries India has decided to reorganise their packet tea business examining and evaluating all alternatives. The objective of the exercise is to provide a sharper focus to the packet tea business which is currently not adequate as it remains mixed with the Eveready branded product verticals of dry batteries, flashlights, lighting product and home appliances.

On the financial front, Eveready Industries India’s revenue increased 1.62 per cent to Rs 329 crore in Q3FY17, as compared to the same period in previous financial year. However, the company’s operating profit declined 6.1 per cent to Rs 35.23 crore in Q3FY17 on yearly basis. Its net profit boosted 65.37 per cent to Rs 35.19 crore in Q3FY17 as compared to the same period in previous fiscal year.

The share price of Eveready Industries India declined 1.3 per cent and closed at Rs 251.05 on Thursday. It has given 32.13 per cent returns to shareholders in the last one year.