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    Eveready Industries to hike prices by 5-10% in April; says no demerger plans

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    Eveready Industries to hike prices by 5-10% in April; says no demerger plans

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    In an interview with CNBC-TV18, Amritanshu Khaitan, MD, Eveready Industries India, discussed the earnings and outlook. Khaitan said that the company plans to take a price hike of 5-10 percent in April. He believes price hikes will aid the company in offsetting increased costs.

    Eveready Industries India Ltd came out with its Q3 earnings. The company reported a 51.41 percent decline in consolidated net profit at Rs 23.71 crore for the third quarter ended December 31, 2021. The company had clocked a net profit of Rs 48.80 crore in the year-ago period.
    Revenue from operations was down 4.22 percent to Rs 325.88 crore during the quarter under review as against Rs 340.27 crore in the year-ago period.
    In an interview with CNBC-TV18, Amritanshu Khaitan, MD, Eveready Industries India, discussed the earnings and outlook.
    Khaitan said that the company plans to take a price hike of 5-10 percent in April. He believes price hikes will aid the company in offsetting increased costs. He shared that the company had already hiked its prices in the battery segment and were able to pass on 15 percent of it in the current quarter.
    He said, “We plan to take further 5-10 percent price increase in the month of April which should complete all cost recoveries and bring margins back to normal levels.”
    Khaitan explained that the company has no demerger plans as of now. Further, he added that they made provisions for inter-group transactions in the last year.
    He said, “There is no plan for any demerger. We are looking at the appointment of Bain & Co more from a strategy standpoint, to help in improving topline and bottomline.”
    Watch the video for the full interview.
    (With PTI inputs)
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