Eveready Industries Looking For Opportunities To Scale Business In 2-3 Years: MD

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Khaitan said that Eveready Industries is aiming to be debt-free in the next two-three years from the current debt level of Rs 418 crore

Battery maker Eveready Industries is looking at scaling up business both in terms of turnover and profitability for which it is eyeing opportunities to see which products can be added under its brand in the coming two-three years.

Managing Director Amritanshu Khaitan said during the company’s 86th annual general meeting, “In home appliances, we plan to stabilise the segment and see how we can scale it up in the future.”

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“The company is also looking at other opportunities to see which products can be added under the brand Eveready in the coming two-three years. This will help scale up the business both in terms of turnover and profitability,” he added.

Khaitan said the battery and flashlights businesses were less impacted by the ongoing pandemic, but lighting and appliances businesses were more impacted in the last 18 months.

“Hopefully with the situation improving, we should see all the businesses improving thereafter,” the MD stated.

Khaitan said that Eveready Industries is aiming to be debt-free in the next two-three years from the current debt level of Rs 418 crore.

“Over the next to two-three years, we endeavour to become a zero-debt company from the current debt level of Rs 418 crore, backed by robust operational cash flows. We still continue to focus on improving our operating efficiency,” Khaitan said, addressing the AGM.

Recently, battery company Exide Industries disclosed its desire to venture into manufacturing lithium-ion batteries.

“We are evaluating installing Advance Cell Chemistry Project. We are waiting for the PLI details as it will act as a sweetener…. It entails huge capex. However, the project viability will depend on future demand for lithium-based batteries,” Exide MD & CEO Subir Chakraborty said on the sidelines of the company’s AGM.

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