Eveready Hikes Battery Prices By 3-10%
DSIJ Intelligence / 20 Sep 2013
Eveready has said that it has hiked the prices of the batteries between 5-10% which will lead to the protection of the margins.
Dry cell battery company, Eveready has announced a hike in the battery prices. The company said that due to the continuous upward trend in the raw material prices the cost of the battery production has increased. Also the overhead expenses increased due to which the price hike was inevitable.
According to the company, after the hike in the prices, the realization will increase between 3%-10% from October 2013. It has come with a prices which includes rising price of the pencil size battery by RS 5 per strip of 10 batteries. For D size batteries by Rs 10 for the boxes of 20 batteries.
In the June quarter, the company reported 9% rise in the revenues to Rs 279 crore while its net profit was up 23% to Rs 1 crore. Operating profit margins were at 11%. The new pricing would lead to rise in the margins. The company manufactures 1.2 billion units of the batteries every year
Shares of the company yesterday rose by 5% and further upward move is expected.If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.