Eveready Industry hopes to log profit in 2012-13 fiscal

Eveready Industry hopes to log profit in 2012-13 fiscal Kolkata: Eveready Industries India Ltd (EIIL) Thursday expressed hope to end the full financial year 2012-13 with profit on the back of Rs 1,000 crore in sales.

"If exchange rate remains stable we hope to end the year with profit and we are looking at a net sales of close to Rs 1,000 crore," EIIL director Amritanshu Khaitan said here Thursday while launching universal portable chargers.

Our bottomline was under pressure mainly due to exchange rate fluctuation which we failed to pass, he said.

In 2011-12, the company had posted Rs 79.85 crore net loss.

Khaitan said the company had raised product prices in the past six months and to offset the total pressure it would need more price rise in another next six months.

Earnings Before Interest, Taxes, and Amortisation (EBITA) margin during the current fiscal had improved to seven percent from 4-5 percent last year.

The company's bottomline was under severe pressure due to raw material costs and volatile exchange rate of rupee.

Meanwhile, with Eveready facing flat growth in cell batteries, the company has decided to introduce urban centric products which would offer more improvement in margin.

The company launched universal power backup chargers for mobile and tablets. "We will test launch this product till March in four metros, Pune and Bangalore before we go for pan India launch," Khaitan said.

In March-April period, the Eveready will introduce more urban products particularly in portable rechargeable lighting segment.

PTI