Eveready Industries India Ltd

Eveready Industries India Ltd: Trading Window closed from 1 October 2026 till 48 hours after the declaration of unaudited financial results (standalone and consolidated) for the quarter and half year ending 30 September 2026.

Meeting Details

• Date/time: Tue, 22 Sept 2026, 10:00 AM onwards; mode: Physical; event: Anand Rathi G-200 Summit 2026.

Participants

• Key company participants: Company officials expected to attend.

Purpose

• Purpose: Analyst and institutional investor interaction.

Additional Notes

• Availability of recording/transcript/presentation: Not specified.

Meeting Details

• 7 Sep 2026, 1:00 PM–4:00 PM, physical group investor/analyst meet.
• Organisers: Ambit Capital, Dhanki Securities, Mehta Vajil & Co, MyTemple Advisors, Electrum Portfolio.
• 8 Sep 2026, 9:00 AM–6:00 PM, Avendus Spark investor meet; mode not specified.

Participants

• Key company participants: senior management and company secretary.

Purpose

• Purpose: Analyst/institutional investor meet.

Transaction details

• Inter-se transfer under a composite scheme of arrangement not involving the Target Company.
• Exemption: 10(1)(d)(ii) for THPL; 10(1)(d)(iii) for other acquirers.
• Acquirers: THPL, SPL, AUL, TMIL, VJ, BNL; Transferor: BCCL.
• Shares transferred: 3,07,400 shares (0.42%) from BCCL to THPL.
• Method: via scheme; inter-se transfer under NCLT-approved demerger.
• Consideration: Nil.
• Pre-Transaction: THPL 0%, BCCL 0.42%.
• Post-Transaction: THPL 0.42%, BCCL 0%.
• Change in promoter group: THPL becomes promoter; BCCL exits promoter group.
• Public shareholding effect: promoter group structure changes.

Transaction details

• Acquirers: THPL and in-concert entities SPL, AUL, TMIL, VJ, BNL; Transferor: BCCL.
• Acquired 3,07,400 shares (0.42%) of Eveready; post-transaction THPL holds 0.42%.
• Via NCLT-approved composite scheme of arrangement; demerger of BCCL's EIBME into THPL.
• Exemption from open offer under Reg 10(1)(d)(ii)/(iii).
• Consideration: share-based; no cash payment.
• Pre-transaction: THPL 0%, BCCL 0.42%; Post-transaction: THPL 0.42%, BCCL 0%.
• Promoter group change: THPL becomes promoter group of Eveready; BCCL reclassification to public pending NSE/CSE approvals.
• No direct impact on Eveready's public shareholding; indirect change via promoter group.
• NCLT order: 4 February 2026.

Meeting Details

• Date and time: 28 August 2026, 12 Noon.
• Mode and type: physical group meeting.
• Organizer: Eveready Industries India Ltd.
• Analyst/institutional investor: Square 64 Capital Advisors LLP.
• Purpose: investor conference and interactions with analysts and institutional investors.
• Key company participants: management representatives (roles not specified).

ESG rating update

• CRISIL ESG Ratings assigned Eveready ESG score Crisil ESG 58.
• Rating based on fiscal 2026 disclosures and publicly available data.
• Eveready did not engage CRISIL; rating prepared independently by CRISIL.
• CRISIL notified company via email on 19 August 2026.

Financial Performance

• Revenue: INR 407.7 crores, +9% YoY
• EBITDA: INR 61.5 crores; margin 15.1%
• PAT: INR 37 crores; +22.3% YoY
• Battery segment revenue +11.9%; alkaline volume ~48% growth
• Alkaline market share within alkaline segment: 18%
• Lighting revenue +13.7%; premium/offers growth; LED/applications rising
• Jammu plant commercial production started 29 May 2026

Segment Trends

• Battery: alkaline growth driven by premiumization; carbon zinc flat
• Rechargeable flashlights +20% revenue; hybrid flashlight launched
• Lighting: demand strength across categories; pricing stabilization evident

Balance Sheet and Cash Flow

• Debt around INR 165 crores
• Jammu capex about INR 90–95 crores (plant & machinery)
• Total Jammu investment > INR 200 crores
• Noida asset sale: one plot completed, second to close soon
• GST Jammu NCSS incentive: 3x refunds on plant & machinery over 10 years
• EPR: pricing clarity pending; ongoing regulatory dialogues
• Renewable energy: solar at Jammu; pursuing asset-light leasing model

Projects and Capex

• Jammu: 29 May commercial production; 10% gross-margin uplift in first year
• Wires & MC Bs: initial sourcing; capex 2x–3x growth; potential 1–2% market-share gain
• Lighting product launches: portable mosquito vaporizer; SHOR rechargeable torch; Xtrabright bulb

Outlook and Guidance

• Alkaline market growth >20% by value and volume
• Alkaline exit share target: 25%–30% in 2 years
• Debt-free target in 4–5 quarters
• Jammu margin uplift ~10% in first year; monitoring for stabilization
• Commodity volatility (zinc) may prompt pricing actions
• No immediate acquisitions; long-term plan to be shared in 2–3 quarters
• BIS norms implemented; EPR pricing clarity awaited; continue renewable-energy focus

Q&A Highlights

• Alkaline market share up to 18%; zinc remains majority; overall dry cell share >50%
• Jammu plant: capex ~INR 90–95 crores; 29 May commercial start; 10% gross-margin uplift expected
• Wires/MCBs: start completed; aim to grow 1–2% market share; capacity 2x–3x growth
• GST Jammu NCSS: 3x refunds on plant & machinery; 10-year period; approvals pending
• EPR: pricing clarity awaited; ongoing discussions with authorities
• Debt trajectory: around INR 165 crores; target debt-free in 4–5 quarters
• Noida asset sale: one plot completed; second closing soon; no immediate fund infusion planned
• Battery market sizing: INR 3,200 crores overall; alkaline ~INR 550 crores; alkaline growth ~20% CAGR
• CCI matter: hearing end-September; potential INR 150 crores cash outgo if unfavorable

AGM Details

• AGM held on 11 August 2026 via VC/OAVM.
• Started 11:30 IST; concluded 1:55 IST.
• Remote e-voting from 8–10 August 2026; voting during AGM.

Key Resolutions

• Adopt standalone and consolidated financial statements for year ended 31 March 2026 (Ordinary).
• Declare dividend of Rs 2.50 per share for FY 2025-26 (Ordinary).
• Appointment of director replacing Utsav Parekh on rotation, eligible for reappointment (Ordinary).
• Appointment of director replacing Girish Mehta on rotation, eligible for reappointment (Ordinary).
• Approval of annual commission to Arjun Lamba up to Rs 3.00 Crores for 3 years (Special).
• Remuneration of Rs 10.00 Lakhs to each Non-Executive Independent Director (Special).
• Ratify cost auditor remuneration Rs 3.85 Lakhs plus taxes for FY 2026-27 (Ordinary).

Dividend

• Dividend declared: Rs 2.50 per equity share.

Director Changes

• Reappointment of Utsav Parekh and Girish Mehta (retiring by rotation).

Auditors

• Cost auditor remuneration approved: Rs 3.85 Lakhs plus taxes for FY 2026-27.

Remuneration & Approvals

• NED remuneration Rs 10 Lakhs each approved.

Notes

• All resolutions approved with requisite majority; Scrutinizer’s report issued.