Financial Performance Highlights FY 2025-26
Eveready Industries India Limited reported exceptional financial results for FY26 with revenue from operations growing 8.2% to ₹1,454.61 crore from ₹1,343.92 crore in FY25. Profit After Tax surged 107.85% to ₹171.23 crore (₹82.38 crore in FY25) driven by strong operational performance and exceptional gains. EBITDA increased 7.3% to ₹163.55 crore with margins maintained at 11.20%. The company reported net exceptional items of ₹48.57 crore comprising gain on sale of Noida plant land parcel (₹105.20 crore) offset by expenses for workmen separation (₹32.25 crore), Labour Code impact (₹9.38 crore), and arbitration settlement (₹15.00 crore).
Operational and Strategic Initiatives
Eveready maintained market leadership with 58.4% share in carbon zinc batteries and grew alkaline segment to 16.5% market share. The company commissioned India's only alkaline battery manufacturing facility in Jammu with ₹200 crore investment and 456 million unit capacity, significantly reducing import dependence. Product innovation included patent application for hybrid torch and launches of Eveready Ultima Lithium batteries, Siren Torch, and Stylite rechargeable torch. R&D investment stood at ₹14.62 crore (1% of turnover). The company expanded into new categories including wires and MCBs while emerging as category leader in mosquito racquets.
Dividend and Corporate Actions
The Board recommended a final dividend of ₹2.50 per equity share (50% on face value of ₹5) for FY26, compared to ₹1.50 per share in FY25. The record date is fixed as August 4, 2026, with payment scheduled on or after August 14, 2026 subject to AGM approval on August 11, 2026. The company implemented ESOP Plan 2026 providing for up to 21,81,000 employee stock options, with applications submitted to stock exchanges for in-principle approval.
Financial Position and Capital Structure
Net worth improved to ₹492.21 crore with net debt at ₹178 crore post Jammu facility funding and ₹100+ crore debt repayment. Interest coverage ratio strengthened to 8.4x from 5.4x in FY25. Total assets stood at ₹12,094.40 million including property, plant and equipment of ₹2,281.54 million and capital work-in-progress of ₹1,764.03 million for the Jammu facility. The company maintained strong liquidity with undrawn borrowing facilities of ₹10,843.02 lakhs in cash credit and ₹9,378.51 lakhs in letter of credit/bank guarantee facilities.
Regulatory and Compliance Matters
The company faces contingent liabilities including Competition Commission of India penalty of ₹171.55 crore (under appeal with 10% deposited) and various GST demands totaling approximately ₹39 lakhs. Statutory auditors Singhi & Co. issued an unmodified audit opinion with emphasis on the CCI penalty matter. Key audit matters focused on revenue recognition under Ind AS 115 and warranty provisions, both deemed appropriately addressed.
Subsidiaries and Related Party Transactions
The group consists of two subsidiaries: Everspark Hongkong Private Limited (100% owned) and Greendale India Limited (100% owned). Related party transactions included remuneration to KMPs totaling ₹105.00 lakhs to Mr. Suvamoy Saha, ₹255.45 lakhs to Mr. Bibek Agarwala, ₹90.85 lakhs to Mrs. Shampa Ghosh Ray, and ₹169.42 lakhs to Mr. Anirban Banerjee, along with commission to non-executive directors of ₹291.60 lakhs.
AGM and Forward Outlook
The 91st Annual General Meeting is scheduled for August 11, 2026 through video conferencing. The company remains focused on premiumisation, distribution efficiency, and innovation across energy and lighting ecosystem, expecting the alkaline segment to grow at 24% in India. Eveready is well-positioned to benefit from BIS certification norms for flashlights while maintaining financial discipline and strong balance sheet.