Q1 FY27 Financial Performance

Revenue and Profitability:

  • Consolidated revenue from operations: INR 407.7 crore (Q1 FY26: INR 374.1 crore), representing 9% YoY growth
  • Seventh consecutive quarter of YoY revenue growth
  • EBITDA: INR 61.5 crore (Q1 FY26: INR 56.1 crore)
  • EBITDA margin: 15.1%, remaining stable YoY despite inflation in commodities and input costs
  • Profit after tax: INR 37.0 crore (Q1 FY26: INR 30.2 crore), representing 22.3% YoY growth
  • Profitability maintained through calibrated pricing actions, procurement/forex interventions, and cost discipline

Segment-wise Performance

Battery Segment:

  • Revenue grew by 11.9% YoY
  • Strong alkaline battery performance with volumes increasing by approximately 48%
  • Carbon zinc batteries returned to growth with approximately 1% volume increase

Flashlights Segment:

  • Overall revenue declined by approximately 6.7%
  • Rechargeable flashlights continued strong growth of over 20%
  • Decline primarily due to delayed onset of monsoon, which deferred seasonal demand and resulted in lower volumes of conventional battery-operated flashlights

Lighting Segment:

  • Revenue grew by 13.7%
  • Healthy volumes across LED bulbs, emergency lighting, and accessories
  • Price erosion showed signs of moderating during the quarter

Strategic and Operational Highlights

Jammu Alkaline Facility:

  • Commercial production has commenced at India's only operational alkaline battery facility
  • Supports import substitution and manufacturing localization
  • Expected to provide longer-term cost and operating-leverage benefits as utilization scales up

New Product Development:

  • Strengthened position in mosquito rackets category within organized segment
  • Launched rechargeable torch SHOR with animal alarm feature (100 decibel alarm with red UV strobe light) for farm protection
  • Launched Xtra Bright LED bulb within emergency portfolio, offering up to 2X brighter illumination

Management Commentary

Anirban Banerjee, Chief Executive Officer:

  • Company continues to see healthy topline momentum across channels and key segments
  • Expects growth trajectory to continue
  • Commodity prices, input costs, and currency movements remain key pressure points
  • Monitoring macro developments and taking calibrated actions to protect profitability and maintain margin stability
  • Focused on strengthening product portfolio, expanding market presence, and driving sustainable growth

Bibek Agarwala, Executive Director & Chief Financial Officer:

  • Margins remained broadly stable despite inflation in zinc and other key inputs
  • Supported by calibrated pricing, forex management, and cost discipline
  • Jammu alkaline facility scaling up expected to support efficiency through localization and operating leverage
  • Focused on cash generation and further strengthening the balance sheet