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About
Eveready Industries India Ltd (EVEREADY)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531508 NSE: EVEREADY Batteries | Small Cap | Eveready Inds. India Share Price
₹351.30 -11.75 (-3.24%)
As on 23-Jul'26 16:59
Eveready Industries India Ltd (EVEREADY)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531508 NSE: EVEREADY Batteries | Small Cap | Eveready Inds. India Share Price
₹351.30 -11.75 (-3.24%)
As on 23-Jul'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹2,554 Cr.
Current Price
₹351.3
52-Week Low / High
₹260 / 475
TTM EPS
₹23.6
TTM Sales
₹1,455 Cr.
Book Value per Share
₹85.7
P/E Ratio
14.89
Lower than its 5-year historical median
Industry PE
24.8
Price to Book (P/B)
4.10
Lower than its 5-year historical median
Price to Sales (P/S)
1.75
Lower than its 5-year historical median
EV/EBITDA
16.27
Lower than its 5-year historical median
Dividend Yield
0.71%
Profitability Efficiency
Return on Equity (ROE)
31.64%
Outperforms industry median
Return on Capital Employed (ROCE)
23.95%
Outperforms industry median
Return on Assets (ROA)
16.69%
Operating Profit Margin
11.2%
Net Profit Margin
11.79%
Gross Profit Margin
10%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
8.25%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
6.81%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
108.03%
Asset Quality
Promoter Holding
43.60%
Pledged shares (%) of Promoter's holding (%)
1.73%
Reserves
₹587 Cr.
Equity
₹36.3 Cr.
Face Value
₹5
All Time Low / High
₹4.75 / 504.90
Check Before You Invest
Quality
Very GoodValuation
FairCheck Valuation charts
Price Trend
Semi Strong
Is Eveready Industries India Ltd a good quality company?
Eveready Industries India Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
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How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Eveready Industries India Ltd performance compare with that of its Peers?
Revenue growth of Eveready Industries India Ltd vs industry peers?
Eveready Industries India Ltd revenue CAGR is 1.94%, compared to the industry median CAGR of 5.68%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Eveready Industries India Ltd?
Promoters hold 43.20% of the Eveready Industries India Ltd, with 1.75% of their stake pledged, indicating low pledge risk.
Stock return of Eveready Industries India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 3.1% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Eveready Industries India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 28.1% | 18.9% | 16.5% | 33.9% | -54.1% | 14.5% | 13.5% | 16.6% | 17.5% | 24% | - |
| Value Creation Index ⓘ | 1.0 | 0.4 | 0.2 | 1.4 | -4.9 | 0.0 | 0.0 | 0.2 | 0.3 | 0.7 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 1,357 | 1,456 | 1,507 | 1,221 | 1,249 | 1,207 | 1,328 | 1,314 | 1,345 | 1,455 | 1,455 |
| Sales YoY Gr. | - | 7.3% | 3.5% | -19% | 2.3% | -3.4% | 10% | -1% | 2.3% | 8.3% | - |
| Adj EPS ⓘ | 12.9 | 6.8 | 8.4 | 10 | -42.6 | 6.4 | 3.8 | 9.3 | 11.4 | 19 | 23.6 |
| YoY Gr. | - | -47.1% | 23.9% | 18.3% | -527.2% | NA | -40.7% | 145.5% | 22.2% | 66.8% | - |
| BVPS (₹) ⓘ | 39.8 | 47.2 | 51.7 | 76.4 | 33.7 | 39.9 | 44 | 53.2 | 63.4 | 85.7 | 85.7 |
| Adj Net Profit ⓘ | 93.6 | 49.5 | 61.3 | 72.6 | -310 | 46.6 | 27.6 | 67.8 | 82.9 | 138 | 172 |
| Cash Flow from Ops. ⓘ | 82.1 | 80.8 | 70.1 | 133 | 173 | 134 | 36.6 | 154 | 130 | 83.4 | - |
| Debt/CF from Ops. ⓘ | 2.6 | 3.3 | 5.8 | 2.8 | 2.5 | 2.8 | 10.2 | 1.9 | 2.2 | 2.2 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 0.8% | 3.1% | 3.1% | 8.3% | ||||
| Adj EPS ⓘ | 4.4% | NA | 71% | 66.8% | ||||
| BVPSⓘ | 8.9% | 20.5% | 24.9% | 35.1% | ||||
| Share Price | 2.7% | 2% | 1.4% | -18.7% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 37.8 | 15.7 | 17.1 | 15.6 | -77.4 | 17.4 | 9.1 | 19.2 | 19.5 | 25.5 | 27.5 |
| Op. Profit Mgn % ⓘ | 9.8 | 7.2 | 8 | 10.5 | 18.2 | 10 | 8.3 | 10.7 | 11.4 | 11.3 | 11.3 |
| Net Profit Mgn % ⓘ | 6.9 | 3.4 | 4.1 | 5.9 | -24.8 | 3.9 | 2.1 | 5.2 | 6.2 | 9.5 | 11.8 |
| Debt to Equity ⓘ | 0.8 | 0.8 | 1.1 | 0.7 | 1.7 | 1.3 | 1.2 | 0.7 | 0.6 | 0.3 | 0.2 |
| Working Cap Days ⓘ | 122 | 151 | 193 | 278 | 216 | 144 | 138 | 144 | 143 | 144 | 71 |
| Cash Conv. Cycle ⓘ | 24 | 22 | 15 | 18 | 12 | 22 | 35 | 43 | 40 | 37 | 13 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,357 | 1,456 | 1,507 | 1,221 | 1,249 | 1,207 | 1,328 | 1,314 | 1,345 | 1,455 |
| Operating Expenses ⓘ + | 1,224 | 1,352 | 1,389 | 1,100 | 1,025 | 1,086 | 1,218 | 1,176 | 1,192 | 1,293 |
| Operating Profit ⓘ | 133 | 104 | 118 | 121 | 224 | 121 | 110 | 139 | 152 | 163 |
| Operating Profit Margin (%) | 9.8% | 7.2% | 7.8% | 9.9% | 17.9% | 10.0% | 8.3% | 10.5% | 11.3% | 11.2% |
| Other Income ⓘ + | 10 | 20 | 43 | 47 | 7 | 5 | 9 | 5 | 1 | 5 |
| Interest ⓘ | 24 | 29 | 55 | 71 | 52 | 48 | 57 | 32 | 26 | 19 |
| Depreciation ⓘ | 15 | 19 | 22 | 29 | 27 | 27 | 27 | 30 | 30 | 30 |
| Profit Before Tax ⓘ | 105 | 76 | 60 | 219 | -482 | 48 | 35 | 81 | 99 | 167 |
| Tax ⓘ | 11 | 22 | 12 | 41 | -171 | 2 | 7 | 14 | 16 | -5 |
| Profit After Tax | 94 | 53 | 48 | 178 | -312 | 46 | 28 | 67 | 82 | 172 |
| PAT Margin (%) | 6.9% | 3.7% | 3.2% | 14.6% | -24.9% | 3.9% | 2.1% | 5.1% | 6.1% | 11.8% |
| Adjusted EPS (₹) | 12.9 | 7.3 | 6.6 | 24.5 | -42.9 | 6.4 | 3.8 | 9.2 | 11.3 | 23.6 |
| Dividend Payout Ratio (%) | 7.80% | 20.50% | 0% | 0% | 0% | 0% | 0% | 10.90% | 13.20% | 10.60% |
Valuation of Eveready Inds. India - Consolidated
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 290 | 343 | 376 | 556 | 245 | 290 | 319 | 387 | 461 | 623 | |
| Debt + | 187 | 207 | 318 | 274 | 343 | 309 | 330 | 247 | 239 | 179 | |
| Minority Interest | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 220 | 308 | 259 | 181 | 178 | 161 | 167 | 169 | 206 | 212 | |
| Others Liabilities ⓘ | 149 | 228 | 324 | 331 | 143 | 64 | 65 | 24 | 61 | 75 | |
| Total Liabilities ⓘ | 846 | 1,086 | 1,278 | 1,341 | 909 | 824 | 882 | 826 | 967 | 1,089 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 334 | 357 | 343 | 329 | 314 | 305 | 310 | 293 | 304 | 276 | |
| CWIP ⓘ | 6 | 3 | 5 | 3 | 3 | 4 | 1 | 8 | 81 | 176 | |
| Investments ⓘ | 0 | 0 | 7 | 5 | 1 | 0 | 8 | 8 | 8 | 0 | |
| Inventories | 284 | 300 | 253 | 210 | 245 | 241 | 260 | 250 | 287 | 302 | |
| Trade Receivables | 84 | 121 | 136 | 50 | 35 | 36 | 102 | 113 | 102 | 117 | |
| Cash Equivalents | 6 | 6 | 7 | 11 | 87 | 53 | 7 | 8 | 7 | 9 | |
| Others Assets ⓘ | 131 | 299 | 528 | 732 | 223 | 185 | 194 | 146 | 178 | 209 | |
| Total Assets ⓘ | 846 | 1,086 | 1,278 | 1,341 | 909 | 824 | 882 | 826 | 967 | 1,089 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 82 | 81 | 70 | 133 | 173 | 134 | 37 | 154 | 130 | 83 |
| Cash Flow From Investing Activity ⓘ + | -68 | -100 | -145 | -16 | -105 | -55 | -19 | -23 | -95 | 63 |
| Cash Flow From Financing Activity ⓘ + | -5 | -37 | 76 | -114 | -4 | -108 | -59 | -127 | -36 | -146 |
| Net Cash Flow ⓘ | 9 | -56 | 2 | 3 | 64 | -29 | -42 | 4 | -2 | 1 |
Financial Ratio
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 37.73 | 16.82 | 13.31 | 38.28 | -77.84 | 17.37 | 9.06 | 18.91 | 19.45 | 31.64 |
| ROCE (%) | 28.14 | 18.86 | 16.48 | 33.9 | -54.05 | 14.52 | 13.49 | 16.55 | 17.48 | 23.95 |
| Asset Turnover Ratio | 1.84 | 1.53 | 1.3 | 0.95 | 1.12 | 1.41 | 1.58 | 1.58 | 1.54 | 1.45 |
| PAT to CFO Conversion(x) | 0.87 | 1.53 | 1.46 | 0.75 | N/A | 2.91 | 1.32 | 2.3 | 1.59 | 0.48 |
| Working Capital Days | ||||||||||
| Receivable Days | 19.80 | 25.30 | 30.50 | 27.30 | 12.40 | 10.60 | 18.70 | 29.20 | 28.60 | 26.90 |
| Inventory Days | 67.10 | 72.30 | 65.70 | 67.70 | 65.90 | 72.60 | 67.90 | 69 | 71.20 | 72 |
| Payable Days | 91.50 | 107.40 | 106.80 | 108.90 | 95.40 | 85.70 | 72.40 | 82.10 | 93 | 92.40 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 1.75 | 1.73 |
* Pledged shares as % of Promoter's holding (%)
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Eveready Industries India Ltd FAQs
The current trading price of Eveready Inds. India on 23-Jul-2026 16:59 is ₹351.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 22-Jul-2026 the market cap of Eveready Inds. India stood at ₹2,553.5 Cr
The latest P/E ratio of Eveready Inds. India as of 22-Jul-2026 is 14.91.
The latest P/B ratio of Eveready Inds. India as of 22-Jul-2026 is 4.13.
The 52-week high of Eveready Inds. India is ₹475.2 and the 52-week low is ₹259.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Eveready Inds. India is ₹1,455 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Eveready Industries India Ltd is a good quality company.
The key valuation ratios of Eveready Industries India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Eveready Industries India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Eveready Industries India Ltd
Eveready Industries India incorporated in 1934, is a well-known name in dry cell batteries segment. Erstwhile the company was a subsidiary of Union Carbide Corporation, US that later was acquired by B M Khaitan and the Williamson Magor group of companies.
Besides dry cell batteries, the company also manufactures flashlights (torches), mosquito repellant and packet tea.
In 1995, company formed a JV with Ralston Purina Overseas Battery Company of US to establish Energizer India- a private limited company that would be engaged in manufacturing of reowned Energizer brand of alkaline batteries in India. The same year, in order to develop rechargeable Ni-Cd and Ni-Mg batteries in India, company entered a MoU with Gold Peak Industries of Hong Kong.
In 1999-2000 the company established a new poly sleeve jacketed battery line at Camperdown Works in Calcutta.
Later company started manufacturing batteries for watches. In April 2004 Eveready Industries India was demerged into two separate companies namely McLeod Russel India and Eveready Industries India. Eveready has the second largest retail distribution network in India.
Later with an investment of Rs.60 crores company established a unit situated in Uttaranchal to manufacture of dry cell batteries with a capacity of 40 crore pieces per annum, this project became operational in 2006.
Today, the company is largest selling brand of dry cell batteries and flashlights (torches), commanding market shares of about 46% and 85% respectively in India.
Products
Dry Cell Batteries- Under this company manufactures carbon zinc batteries, rechargeable batteries and alkaline batteries. The company markets these batteries under the brand name 'Eveready'.
Flashlights- Eveready Industries is the largest manufacturer of flashlights in South Asia. Under this company has launched models namely A1, Spectra, Satin, Prakash, Delight, Vijeta, Tango, Cruiser, DL01, DL02 to name a few.
Tea-Company manufactures tea and markets the same under the brand name ‘Tez’.
Mosquito Repellent- Company manufactures mosquito repellent and markets it under brand name ‘Poweron’.
In the year 2007, the company entered into a sales and distribution tie-up with Phoenix Lamps for selling CFLs (Compact Fluorescent Lamps) under the brand name Eveready Halonix. Phoenix Lamps. This JV required an investment of US$ 40 million with 4 plants having a production capacity of over 130 million lamps a year.
New Development
Eveready Industries India plans to increase it product portfolio in future. The company is conducting test marketing of dishwash detergent and after successful completion it will launch the product.
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