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EVEREADY - Eveready Inds.

📊 NSE: EVEREADY 🏢 Dry Cells 📅 Last Updated: 12/13/2025 22:00

📢 Recent Corporate Announcements

Eveready Industries to Participate in Arihant Capital Investor Conference on March 11, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Mar 2026, 04:49 PM

Eveready Industries India Limited has announced its participation in a virtual investor conference scheduled for March 11, 2026. The company will be part of Arihant Capital's 'Bharat Connect Conference: Rising Stars - March 2026' starting at 10:00 AM. This meeting is a routine engagement with institutional investors and analysts to discuss business prospects. The company has clarified that no unpublished price sensitive information (UPSI) will be shared during the session.

Scheduled virtual meeting with analysts and institutional investors on March 11, 2026, at 10:00 AM.
Participation in the 'Bharat Connect Conference: Rising Stars' hosted by Arihant Capital.
Compliance filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Explicit confirmation that no unpublished price sensitive information will be disclosed during the meet.

💡 Investors should monitor for any post-event investor presentations or transcripts that may provide updated insights into the company's growth strategy. No immediate action is required as this is a routine communication.

Eveready Proposes ESOP 2026 Plan for 21.81 Lakh Shares; Seeks Shareholder Approval

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 13 Feb 2026, 02:57 PM

Eveready Industries India Limited has issued a postal ballot notice to seek shareholder approval for the introduction of the 'ESOP 2026' scheme. The plan involves the issuance of up to 21,81,000 equity shares of ₹5 each to eligible employees and directors to align interests and retain talent. Additionally, the company is seeking to amend its Articles of Association to enable these share-based benefits and revise the remuneration of its Executive Director and CFO, Mr. Bibek Agarwala, to include stock options starting April 2026. The e-voting period for these resolutions is set from February 17 to March 18, 2026.

Proposed issuance of up to 21,81,000 equity shares under the new ESOP 2026 plan
Amendment of Articles of Association (Article 11A) to legally enable share-based employee benefits
Revision of CFO Bibek Agarwala's remuneration to include stock options for his tenure until August 2029
Each option granted under the scheme is convertible into one equity share of face value ₹5
Remote e-voting for shareholders to commence on February 17 and conclude on March 18, 2026

💡 Investors should view the ESOP plan as a positive step toward management retention, though they should account for the minor equity dilution of approximately 3%. No immediate action is required except for participating in the postal ballot voting.

Eveready Q3 FY26: Revenue Grows 10.1%, EBITDA Up 13% Amid 72% Alkaline Volume Surge

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 05:59 PM

Eveready Industries reported its fifth consecutive quarter of revenue growth, with Q3 FY26 revenue increasing 10.1% and EBITDA rising 13% YoY. The performance was anchored by the battery segment, which grew 11.1%, while the alkaline portfolio surged by 72% YoY. Despite a 150 bps dip in gross margins due to rising zinc and dollar costs, net debt was reduced to INR 317 crores. The company is also divesting non-core land in Noida to further deleverage the balance sheet and improve financial flexibility.

Revenue and EBITDA grew by 10.1% and 13% respectively, marking the 5th straight quarter of growth.
Alkaline battery volumes grew by 72% YoY, with volume share reaching nearly 19% in December 2025.
Net debt reduced to INR 317 crores despite a capital investment of INR 167 crores in the new Jammu facility.
The company maintains a dominant 51.9% overall value share in the battery market and 58.3% in zinc batteries.
Divestment of Noida land parcel approved to prioritize further debt reduction and financial flexibility.

💡 Investors should take confidence in the strong growth of the high-margin alkaline segment and the management's focus on debt reduction through asset divestment. Monitor the commissioning of the Jammu facility by FY26-end, which is expected to improve alkaline segment margins by 10%.

Eveready to Sell Noida Leasehold Rights for ₹251.55 Crore

🟢 POSITIVE ⭐ 8/10

M&A 📅 11 Feb 2026, 06:16 PM

Eveready Industries India Limited has entered into a definitive agreement to sell its leasehold rights for land and structures in Noida, Uttar Pradesh, for a total consideration of ₹251.55 crore. The asset being disposed of contributed approximately ₹15.10 crore to the company's revenue, representing only about 1% of its annual turnover. The transaction is expected to be completed by September 30, 2026, subject to requisite approvals. This move signifies a major monetization of underutilized assets, providing a significant cash infusion relative to the unit's operational contribution.

Sale of leasehold land and structures in Noida for a total consideration of ₹251.55 crore
The unit contributed only ₹15.10 crore (approx. 1%) to the company's annual turnover in the last fiscal year
Transaction expected to be completed by September 30, 2026
Buyers are NewGen Enterprise LLP and Gupta Infra Property Solutions LLP, with no promoter group affiliation
The deal is a non-related party transaction conducted at arm's length

💡 Investors should monitor the company's utilization of these proceeds, as the cash inflow could significantly strengthen the balance sheet or fund expansion. This asset monetization is a positive step toward optimizing the company's capital structure.

Eveready Industries Releases Q3 FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Feb 2026, 10:14 PM

Eveready Industries India Limited has informed the exchanges that the audio recording of its Q3 FY26 earnings conference call is now available for public access. The call was conducted on February 6, 2026, following the announcement of the company's third-quarter financial results. This disclosure is a mandatory regulatory requirement under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Investors can access the recording on the company's official website to gain insights into management's commentary on performance and outlook.

Audio recording of the Q3 FY26 earnings conference call is now live on the company's website.
The conference call was held on February 6, 2026, to discuss quarterly performance.
The filing is in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
Investors can find the link under the 'Investor Meet/Call' section of the company's website.

💡 Investors should listen to the recording to understand management's views on market share and margin trends. No immediate action is required as this is a routine compliance filing.

Eveready Q3 FY26 Revenue Up 10.1% to ₹367.2 Cr; Alkaline Segment Grows 71%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 06:00 PM

Eveready Industries reported a steady 10.1% YoY revenue growth in Q3 FY26, reaching ₹367.2 crore, driven by strong performance in Batteries and Lighting. EBITDA grew by 13% to ₹33.3 crore, although PAT was suppressed to ₹7.5 crore due to a ₹9.4 crore exceptional item related to new labor code obligations. The company maintains a dominant 52% market share in the dry cell category, with the high-growth alkaline segment now contributing 10% of battery revenue. Strategic initiatives including the Noida land divestment and the upcoming Jammu greenfield facility are expected to further strengthen the balance sheet and production capacity.

Consolidated Revenue increased 10.1% YoY to ₹367.2 crore, while EBITDA margins improved to 9.1%.
Alkaline battery revenue surged 71% YoY to ₹25.7 crore, reflecting a successful shift toward premium products.
Maintained a leading 52% market share in the dry cell battery segment despite competitive pressures.
Exceptional charges of ₹9.4 crore for employee benefit obligations impacted the quarterly net profit.
Board approved the divestment of Noida land to reduce debt and optimize the manufacturing footprint.

💡 Investors should look past the one-time exceptional labor costs and focus on the robust 71% growth in the premium alkaline segment. The company's debt reduction via land sale and the nearing completion of the Jammu plant are positive long-term catalysts.

Eveready Q3 FY26 Revenue Up 10.1% to ₹367.2 Cr; Alkaline Battery Segment Grows 72%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 05:43 PM

Eveready Industries reported its fifth consecutive quarter of growth, with Q3 FY26 revenue rising 10.1% YoY to INR 367.2 crore and EBITDA increasing 13% to INR 33.3 crore. Profit after tax (PAT) stood at INR 7.5 crore, impacted by a one-time exceptional charge of INR 9.4 crore for new labor code implementation. The battery segment remains a strong anchor, with Alkaline batteries growing 72% and reaching a 19% market share milestone. The company is focused on debt reduction through the divestment of its Noida land parcel and the completion of a new manufacturing facility in Jammu.

Consolidated revenue grew 10.1% YoY to INR 367.2 crore, marking the 5th straight quarter of growth.
EBITDA increased by 13.0% to INR 33.3 crore, while PAT was INR 7.5 crore after a INR 9.4 crore one-time charge.
Alkaline battery segment recorded 72% growth, helping the company reach a 19% market share in that category.
Net debt stands at INR 317 crore, with plans to deleverage via the sale of a Noida land parcel.
New Jammu manufacturing facility involving INR 167 crore Capex is on track for completion by end of FY26.

💡 Investors should focus on the robust growth in the high-margin Alkaline segment and the company's efforts to deleverage through asset sales. Monitor the commissioning of the Jammu facility as it will be a key driver for future capacity and margins.

Eveready Q3 PAT Drops 43.6% to ₹7.36 Cr on Exceptional Items; Board OKs ESOP and Noida Land Sale

🟡 NEUTRAL ⭐ 8/10

EARNINGS 📅 05 Feb 2026, 05:19 PM

Eveready Industries reported a 10.1% YoY increase in revenue to ₹366.97 crore for Q3 FY26, driven by its consumer goods segment. However, Net Profit (PAT) declined significantly to ₹7.36 crore from ₹13.05 crore in the previous year, primarily due to a ₹9.38 crore exceptional charge related to new Labour Code compliance. The company also announced strategic moves including the introduction of an ESOP 2026 plan and the sale of leasehold land rights in Noida to streamline assets. A significant contingent liability of ₹171.55 crore regarding a CCI penalty remains a key overhang as it is currently stayed by NCLAT without a full provision.

Revenue from operations increased 10.1% YoY to ₹366.97 crore for the quarter ended December 31, 2025.
Net Profit (PAT) fell to ₹7.36 crore vs ₹13.05 crore YoY, impacted by a ₹9.38 crore exceptional item for employee benefit obligations.
Finance costs saw a healthy reduction of 27.9% YoY, dropping to ₹4.75 crore from ₹6.59 crore.
Board approved the sale of leasehold land rights and structures located in Noida, Uttar Pradesh, subject to regulatory approvals.
The company is contesting a ₹171.55 crore CCI penalty; 10% has been deposited with NCLAT, but no provision has been made in the books.

💡 Investors should watch for the cash inflow from the Noida land sale and its impact on debt reduction. While operational revenue is growing, the legal overhang of the CCI penalty and the impact of one-time exceptional costs on margins require a cautious outlook.

Eveready Industries to Hold Q3 FY26 Earnings Call on February 6, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 28 Jan 2026, 03:28 PM

Eveready Industries India Limited has scheduled its Q3 FY26 earnings conference call for February 6, 2026, at 4:30 PM IST. The management will discuss the company's financial performance and provide updates on its core battery and flashlight segments, where it holds over 50% market share in India. The call will also cover progress in the company's emerging lighting business. This is a standard procedure following the announcement of quarterly results to engage with analysts and institutional investors.

Earnings conference call for Q3 FY26 is set for Friday, February 6, 2026, at 4:30 PM IST
Company maintains a dominant market share of over 50% in the Indian dry cell battery market
Manufacturing footprint consists of 6 facilities across India including Haridwar, Noida, and Kolkata
Management will provide updates on core segments and the emerging lighting business vertical

💡 Investors should monitor the call for management's outlook on raw material pricing and growth targets for the lighting division. No immediate action is required as this is a routine scheduling announcement.

Eveready Shareholders Approve Postal Ballot Resolutions with Requisite Majority

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Jan 2026, 02:22 PM

Eveready Industries India Limited has announced the successful passage of all resolutions proposed in its Postal Ballot Notice dated November 5, 2025. The voting process concluded on January 12, 2026, with the Scrutinizer's Report confirming that the resolutions were approved by the requisite majority of members. The company has filed the formal voting results and Scrutinizer's Report with the NSE, BSE, and Calcutta Stock Exchange as per SEBI Listing Regulations. This filing represents a standard completion of corporate governance procedures following shareholder consultation.

All resolutions from the November 5, 2025, Postal Ballot Notice were passed on January 12, 2026.
The Scrutinizer's Report was formally issued on January 13, 2026, verifying the remote e-voting results.
Filings were made under Regulation 44(3) of SEBI Listing Regulations and Section 108 of the Companies Act, 2013.
Voting results have been made available to the public via the company website and NSDL portal.

💡 Investors should review the specific resolutions on the company's website to understand the underlying corporate actions approved. No immediate trading action is required as this is a routine regulatory disclosure.

Eveready Industries Files Q3 FY26 Share Dematerialization Compliance Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jan 2026, 05:33 PM

Eveready Industries India Limited has submitted its quarterly compliance certificate for the period ending December 31, 2025. The filing confirms adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The Registrar and Share Transfer Agent, Maheshwari Datamatics Private Limited, verified that physical share certificates received for dematerialization were processed and destroyed as per law. This is a standard administrative disclosure with no impact on the company's financial health or operations.

Quarterly compliance certificate submitted for the period Oct 1, 2025, to Dec 31, 2025.
Issued by Registrar and Share Transfer Agent Maheshwari Datamatics Private Limited.
Confirms destruction of physical certificates after dematerialization within stipulated timelines.
Filed with NSE, BSE, and CSE stock exchanges to maintain regulatory transparency.

💡 This is a routine administrative update with no impact on stock valuation. Investors should continue to monitor the company's operational performance and upcoming quarterly financial results.

Eveready Industries Receives GST Demand and Penalty of Rs 3.71 Crore

🔵 WATCH ⭐ 4/10

REGULATORY 📅 31 Dec 2025, 04:25 PM

Eveready Industries India Limited has received a demand order from the State Goods and Service Tax Department, Lucknow, for the financial year 2018-19. The total demand amounts to Rs 370.70 lakh, which includes a tax component of Rs 185.35 lakh and an equal penalty of Rs 185.35 lakh. The order is based on alleged Input Tax Credit (ITC) mismatches between the company's GSTR-3B filings and supplier data in GSTR-2A. The company has stated it will file a rectification petition and an appeal with the relevant appellate authority to contest the order.

Total GST demand of Rs 370.70 lakh issued by the Joint Commissioner, State GST, Lucknow.
Demand includes Rs 185.35 lakh in tax and a matching penalty of Rs 185.35 lakh.
Issue relates to ITC credit mismatch for the financial year 2018-19.
Company intends to file a rectification petition and an appeal against the order.
Management currently expects no significant impact on financial or operational activities.

💡 Investors should monitor the progress of the appeal, though the current demand amount is relatively small compared to the company's scale. No immediate portfolio changes are recommended based on this routine tax dispute.

Eveready Industries to Close Trading Window from Jan 1, 2026, for Q3 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Dec 2025, 05:06 PM

Eveready Industries India Limited has announced the closure of its trading window for designated persons starting January 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the results are officially declared. This is a standard regulatory procedure and does not reflect any change in the company's fundamental performance.

Trading window closure for designated persons begins on January 1, 2026
Closure pertains to the financial results for the quarter and nine months ending December 31, 2025
Window will reopen 48 hours after the announcement of unaudited standalone and consolidated results
Compliance is maintained under SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 No action is required as this is a routine regulatory filing; investors should monitor the upcoming Q3 results for actual performance metrics.

Eveready Industries: Postal Ballot for Director Appointments & Board Size Increase

🟡 NEUTRAL ⭐ 6/10

BOARD_MEETING 📅 11 Dec 2025, 01:00 PM

Eveready Industries India Limited is seeking shareholder approval via postal ballot for several key resolutions. These include the appointment of Mr. Aditya Chand Burman as a Non-Executive Director, and the re-appointments of Mr. Sourav Bhagat and Mr. Sunil Sikka as Non-Executive Independent Directors for a second term of 3 years each, effective January 28, 2026 and April 21, 2026 respectively. The company is also proposing to increase the maximum number of directors on the board. E-voting will be available from December 14, 2025, to January 12, 2026.

Appointment of Mr. Aditya Chand Burman (DIN: 00042277) as Non-Executive Director.
Re-appointment of Mr. Sourav Bhagat (DIN: 09040237) as Non-Executive Independent Director for 3 years from January 28, 2026.
Re-appointment of Mr. Sunil Sikka (DIN: 08063385) as Non-Executive Independent Director for 3 years from April 21, 2026.
Increase the maximum number of Directors on the Board to sixteen.
Remote e-Voting period begins on December 14, 2025 at 9.00 A.M. and ends on January 12, 2026 at 5.00 P.M.

💡 Shareholders should review the postal ballot notice and explanatory statement carefully, and cast their votes before the January 12, 2026 deadline. Monitor the board composition and governance changes following these appointments.

View All EVEREADY Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

In Q2 FY26, total revenue grew 6.7% YoY to INR 386.8 Cr. Segmental growth: Batteries grew 7.6% YoY to INR 257.3 Cr (64% of revenue); Lighting grew 10.6% YoY to INR 93.0 Cr (24% of revenue); Flashlights declined 2.2% YoY to INR 47.4 Cr (12% of revenue).

Geographic Revenue Split

Not disclosed in available documents, though the company mentions expanding penetration in under-served geographies and sub-segments.

Profitability Margins

Gross margins are approximately 25%. Operating EBITDA margin for Q2 FY26 was 12.7%, reflecting strong underlying performance despite price compression in the LED category.

EBITDA Margin

Operating EBITDA for Q2 FY26 was INR 49.1 Cr, a 2.8% YoY increase. EBITDA margins have stabilized at 10.5-11.5% compared to historical levels of 7-10%.

Capital Expenditure

The company is investing in a new greenfield facility for alkaline batteries, with INR 80-90 Cr drawn down for this project as of late 2025.

Credit Rating & Borrowing

Gearing improved to 0.7x as of March 31, 2025, from 1.4x in 2022. Debt protection is healthy with an interest coverage ratio of 5.97x and NCATD of 0.33x.

⚙️ Operational Drivers

Raw Materials

Zinc is the primary raw material, accounting for approximately 50% of the total cost of sales.

Key Suppliers

Not disclosed in available documents, but the company utilizes long-term supplier contracts and vendor consolidation.

Capacity Expansion

Current capacity utilization is low at some plants (specifically D-size batteries). Expansion is focused on a new greenfield alkaline battery facility to support premiumization.

Raw Material Costs

Raw material costs represent ~50% of sales. The company uses partial hedging for zinc to stabilize gross margins against price volatility.

Manufacturing Efficiency

Operating efficiency is being improved through regional distribution hubs to reduce last-mile costs and the implementation of Sales Force Automation (SFA).

Logistics & Distribution

Distribution reach covers over 4.5 million outlets. RTM rationalization is used to achieve cost efficiencies.

📈 Strategic Growth

Expected Growth Rate

10%

Growth Strategy

Growth will be driven by premiumization (shifting to alkaline batteries), distribution expansion (4.5 million outlets), and a new electrical accessories line. The company is also expanding its institutional segment presence for margin expansion.

Products & Services

Dry cell batteries (Carbon Zinc and Alkaline), LED lighting products, flashlights, and electrical accessories.

Brand Portfolio

Eveready (100+ year legacy).

New Products/Services

Introduction of a new electrical accessories line and a revamped alkaline battery portfolio.

Market Expansion

Targeting institutional segments and under-served sub-segments/geographies through a revamped route-to-market approach.

Market Share & Ranking

Strong market share in dry cell batteries (specific percentage not disclosed).

🌍 External Factors

Industry Trends

The industry is seeing a shift toward alkaline batteries and premiumization, while the LED lighting segment faces persistent price compression.

Competitive Landscape

Key competitors include Duracell India Operations Pvt Ltd, Panasonic Energy India Company Ltd, and Indo National Ltd.

Competitive Moat

Durable advantages include a 100-year brand legacy, a massive distribution network of 4.5 million outlets, and cost leadership in dry cell batteries.

Macro Economic Sensitivity

Economic activity is aided by strong monsoons and GST 2.0, which sustain retail momentum.

Consumer Behavior

Shift toward premium value-added offerings and alkaline batteries for high-drain devices.

Geopolitical Risks

Risks include political stability in India and globally, which can impact trade priorities and commodity prices.

⚖️ Regulatory & Governance

Industry Regulations

Operations are affected by GST rationalization and government regulations on commodity pricing and trade.

Environmental Compliance

The company monitors sustainability and ESG-related risks through its Risk Management Committee.

Taxation Policy Impact

Not disclosed in available documents; mentions monitoring government regulations and taxation.

Legal Contingencies

Pending CCI penalty hearing (Nov 19-20, 2025); INR 15 Cr settlement for arbitration with Real Touch; INR 29.8 Cr H1 FY26 ex-gratia payment for workmen separation.

⚠️ Risk Analysis

Key Uncertainties

Outcome of the CCI penalty (unquantified), zinc price volatility (50% of costs), and continued price erosion in the LED lighting market.

Third Party Dependencies

Dependency on zinc suppliers; mitigated by vendor consolidation and long-term contracts.

Technology Obsolescence Risk

Risk of structural value erosion in traditional LED lighting; mitigated by R&D and product differentiation.

Credit & Counterparty Risk

Receivables quality is managed through disciplined working capital and a debt-equity ratio of 0.7x.

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Updated: 12/14/2025 8:02