Any current/future new fundraising through debt or equity?

The company is undertaking a Rs. 180 crore capex to set up a greenfield alkaline battery production facility in Jammu. For the Jammu plant, around 75% of financing is expected from banks and financial institutions, with the remaining 25% internally funded. Current debt stands at around Rs. 225-230 crore, with plans for peak debt to increase by approximately Rs. 100 crore due to the plant expansion, potentially reaching Rs. 325-330 crore. The company continues debt repayment, having paid Rs. 80 crore last year and Rs. 35-40 crore this year so far. No formal announcement on equity fundra

Any current/future capex/capital investment/strategic investment?

Eveready Industries is undertaking a greenfield production facility for alkaline batteries with a capital outlay of Rs. 180 crore. The new facility, located in Jammu, is expected to commence commercial production by the end of calendar year 2025. Jammu plant will be the only dedicated alkaline battery manufacturing facility in India, aimed at operational efficiencies and scaling up Ultima Pro and Ultima ranges. Plans to extend this facility into a multi-product site for greater scale and cost advantages. Financing: Around 25% of the Jammu plant cost is funded internally (e.g., land purchase),

Future growth expectations in earnings/operating earnings/profits/EPS?

Company anticipates continued robust growth in alkaline batteries, supported by reasonable carbon zinc performance. Flashlight segment expected to grow, with rechargeable flashlights gaining traction and benefiting from mandatory BIS certification that will reduce unorganized market share. Lighting segment is focusing on growing retail and institutional presence, expanding distribution channels, and targeting professional luminaires for future growth. Alkaline battery market share has nearly doubled to 11%, with expectations to reach 20% in the near term and a long-term goal around 53%. The ne

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Eveready Industries India LtdQ4 FY26Household Products

Eveready Industries India Ltd Q4 FY26 Earnings Call Analysis

Q: Future growth expectations in sales/revenue/volumes?

Future Growth Expectations: **Batteries:** - Robust growth anticipated, especially in alkaline batteries with 90.8% growth YTD. - Market share in alkaline batteries has nearly doubled to 11%, with efforts to further increase. - Overall battery market share maintained at 53%, including carbon zinc and alkaline. - Alkaline segment expected to grow strongly, while carbon zinc remains flat or marginal growth. - New Jammu alkaline battery plant expected to generate Rs. 100 crore annual revenue initially, scaling up to Rs. 400 crore. **Flashlights:** - Rechargeable flashlights showing

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹369P/E: 15.9Market Cap: ₹2.3K CrSector: Household Products

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

Future Growth Expectations: - **Batteries:** - Robust growth anticipated, especially in alkaline batteries with 90.8% growth YTD. - Market share in alkaline batteries has nearly doubled to 11%, with efforts to further increase. - Overall battery market share maintained at 53%, including carbon zinc and alkaline. - Alkaline segment expected to grow strongly, while carbon zinc remains flat or marginal growth. - New Jammu alkaline battery plant expected to generate Rs. 100 crore annual revenue initially, scaling up to Rs. 400 crore. - **Flashlights:** - Rechargeable flashlights showing strong growth, offsetting declines in battery-operated segment. - New product launches (e.g., Siren Torch) driving incremental growth. - BIS certification expected to weed out unorganized players, benefiting organized players like Eveready. - **Lighting:** - Marginal growth expected with volume improvement and expanded presence in retail/institutional segments. - Focus on professional luminaires and alternative channels for incremental growth.

Margin guidance

Category 3

→Company anticipates continued robust growth in alkaline batteries, supported by reasonable carbon zinc performance.
→Flashlight segment expected to grow, with rechargeable flashlights gaining traction and benefiting from mandatory BIS certification that will reduce unorganized market share.
→Lighting segment is focusing on growing retail and institutional presence, expanding distribution channels, and targeting professional luminaires for future growth.
→Alkaline battery market share has nearly doubled to 11%, with expectations to reach 20% in the near term and a long-term goal around 53%.
→The new Jammu alkaline battery plant (Rs. 180 crore CAPEX) expected to start commercial production by end of calendar year, initially contributing Rs. 100 crore revenue and scaling to Rs. 400 crore.
→EBIT margins for alkaline batteries currently thin but expected to improve post-Jammu plant commissioning and government fiscal benefits.
→Overall, the company aims to sustain or improve a gross margin close to 40% despite commodity-driven volatility.
→Continued investment in advertising and distribution expansion supports revenue and profit growth momentum.

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Fundraise plans

Yes

→The company is undertaking a Rs. 180 crore capex to set up a greenfield alkaline battery production facility in Jammu.
→For the Jammu plant, around 75% of financing is expected from banks and financial institutions, with the remaining 25% internally funded.
→Current debt stands at around Rs. 225-230 crore, with plans for peak debt to increase by approximately Rs. 100 crore due to the plant expansion, potentially reaching Rs. 325-330 crore.
→The company continues debt repayment, having paid Rs. 80 crore last year and Rs. 35-40 crore this year so far.
→No formal announcement on equity fundraising or other fundraising is indicated in the transcript.
→Overall, new fundraising appears focused on debt to fund the Jammu plant, with internal accruals also supporting the capex.

Order book

The transcript provided does not explicitly mention details regarding the current or expected order book or pending orders for Eveready Industries India Limited. The discussion primarily focuses on topics such as: - Sustainable gross margins and business segment margins - Revenue bifurcation between batteries, flashlights, and lighting - Market share growth in alkaline batteries and rechargeable flashlights - Progress on the alkaline battery plant in Jammu, including expected revenue potential (Rs. 100 - 400 crore annually) and commissioning timeline (end of calendar year) - Debt repayment schedules and financial performance metrics No specific information on the order book size, pending orders, or pipeline is disclosed in the transcript.

Capex plans

Yes

→Eveready Industries is undertaking a greenfield production facility for alkaline batteries with a capital outlay of Rs. 180 crore.
→The new facility, located in Jammu, is expected to commence commercial production by the end of calendar year 2025.
→Jammu plant will be the only dedicated alkaline battery manufacturing facility in India, aimed at operational efficiencies and scaling up Ultima Pro and Ultima ranges.
→Plans to extend this facility into a multi-product site for greater scale and cost advantages.
→Financing: Around 25% of the Jammu plant cost is funded internally (e.g., land purchase), and approximately 75% through bank and financial institution debt.
→Annual revenue from Jammu plant expected to start at Rs. 100 crore and potentially scale up to Rs. 400 crore over time.
→The company is focused on consolidating gains from recent difficult years and plans to continue strategic investments to sustain growth.

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