Review

EVEREADY INDUSTRIES (INDIA) LTD.

Ticker : 531508
FV : Rs 5
52-Week H/L : Rs 157.60/45.15

We had previously recommended Eveready Industries in vol. no. 36, no. 50, dated October 05, 2020, when the scrip was trading at Rs 148.95. It was recommended based on growth in demand for the company’s products due to the upcoming festive season. Looking at quarterly trends, on a consolidated basis, for Q1FY21, the company posted a decrease of 20.47 per cent in the net sales to be Rs 263.44 crore compared to Rs 331.24 crore in Q1FY20. PBDT for Q1FY21 stood at Rs 38.96 crore, expanding by 134.86 per cent from Rs 16.59 crore reported in Q1FY20. Net profit gained for Q1FY21 rose significantly to Rs 25.33 crore from Rs 7.15 crore gained in Q1FY20. Based on the company’s improving financials, we recommend a HOLD.