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Eveready Industries India Ltd

| Audited Standalone Financial Results for the Quarter and Year Ended March 31, 2026

Report Source

⬤30th Apr 26

Summary : Eveready reports strong profit growth, recommends dividend, despite contingent CCI penalty.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Cost of Materials Consumed.
  2. Purchases of Stock-in-Trade.
  3. Changes in Inventories.
  4. Employee Benefit Expense.
  5. Finance Costs.
  6. Depreciation and Amortisation Expense.
  7. Other Expenses.
  8. Revenue from operations.
  9. Other Income.
  10. Increased cash flow from operating activities (standalone: 82.93 Cr vs 129.90 Cr).
  11. Significant cash inflow from investing activities (standalone: 63.23 Cr vs -95.49 Cr).
  12. Significant cash outflow from financing activities (standalone: -145.79 Cr vs -35.86 Cr).
  13. CCI penalty of ₹171.55 crores for Competition Act non-compliance.
  14. Increased total assets (standalone: 1209.44 Cr vs 1084.39 Cr).
  15. Increased total equity (standalone: 618.81 Cr vs 457.88 Cr).
  16. Decreased non-current borrowings (standalone: 120.30 Cr vs 157.45 Cr).
  17. Increased cash and cash equivalents (standalone: 0.90 Cr vs 0.53 Cr).
  18. Both standalone and consolidated results presented.
  19. Auditors issued unmodified opinion on both.

Corporate Overview

  1. Significant penalty by Competition Commission of India (CCI).
  2. Uncertainty regarding new Labour Codes impact.
  3. Marketing of dry cell batteries, rechargeable batteries, flashlights, lighting products.
  4. Sale of Noida plant leasehold rights (Plot B1 and B2).
  5. Disposal of investment in Preferred Consumer Products.

Risk Factors

  1. Significant CCI penalty as contingent liability.
  2. Uncertainty of new Labour Codes impact.
  3. Outcome of litigation is unpredictable.
  4. Reliance on other auditors for subsidiaries.

Key Drivers

  1. Strong profit growth for the year.
  2. Board recommended 50% dividend.
  3. Unmodified audit opinion received.
  4. Strategic asset sales completed.

Auditor’s Report

  1. Unmodified opinion on standalone financial results.
  2. Unmodified opinion on consolidated financial results.
  3. CCI penalty of ₹171.55 crores shown as contingent liability.
  4. Uncertainty of future outcome of CCI litigation.
  5. No provision made for CCI penalty, opinion not modified.

Board Commentary

  1. Recommended dividend of ₹2.50 per equity share (50%).
  2. Subject to shareholder approval at AGM.
  3. CCI penalty of ₹171.55 crores as contingent liability.
  4. Potential financial impact from new Labour Codes.
  5. CCI penalty for non-compliance with Competition Act 2002.
  6. Implications of new Labour Codes on employee benefits.
  7. Arbitration settlement payment of ₹15.00 crore.
  8. Sale of Noida plant leasehold rights completed.
  9. Disposal of investment in Preferred Consumer Products.

Corporate Governance

  1. Audit Committee reviewed and approved results.

Management Discussion & Analysis

Risk Control Measures

  1. Appeal filed against CCI penalty, stay granted.
  2. Legal advice obtained on CCI penalty outcome.
  3. Monitoring notification of new Labour Codes rules.

Critical Risks

  1. CCI penalty of ₹171.55 crores as contingent liability.
  2. Uncertainty regarding new Labour Codes financial impact.
Eveready Industries India Ltd (EVEREADY) Quarterly Report Analysis & Insights | Dhanarthi