This small-cap battery manufacturing company is surging on the bourses today!

This small-cap battery manufacturing company is surging on the bourses today!

Indian Market
by 5paisa Research Team Last Updated: 2022-11-03T11:59:55+05:30

Last week, the company announced its results for the quarter and half-year that ended on 30 September 2022.

The shares of Eveready Industries are buzzing on the bourses today. As of 11.09 am, the shares of the company are trading higher by 4.26%. Owing to this, the shares of Eveready Industries are one of the top gainers on BSE from Group A.

Meanwhile the frontline index S&P BSE Sensex is down by 0.09%.

Eveready Industries (India) Ltd is a well-known name in the dry cell batteries segment. Besides dry cell batteries, the company also manufactures flashlights (torches), mosquito repellant and packet tea. The company’s manufacturing facilities are spread across 6 locations, namely Matia, Lucknow, Noida, Haridwar, Maddur and Kolkata. The company has a Research and Development (R&D) facility which is approved by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology, Government of India. 

Last week, the company announced its results for the quarter and half year that ended on 30 September 2022.  

During the quarter, Q2FY23, the net revenue grew 5.11% YoY to Rs 375.75 crore. However, the profits were marred by a steeper growth in expenses. The PAT decreased 52.50% YoY to Rs 14.71 crore. PAT was impacted adversely by a non-cash charge of unamortized front-end fees of a loan repaid during the quarter and an adjustment to deferred taxes. This will even out for the full year. 

The company is currently trading at a TTM PE of 97.44x against the industry PE of 5.28x. In FY22, the company delivered an ROE & ROCE of 17.4% and 14.7%, respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 2,223.14 crore. 

Today, the scrip opened at Rs 295 and has touched a high and low of Rs 308.65 and Rs 294, respectively. So far 18,709 shares have been traded on the bourses. The stock has a 52-week high & low of Rs 381.90 and Rs 255.45, respectively on BSE. 


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