Review

EVEREADY INDUSTRIES (INDIA) LTD 

Ticker : 531508
FV : Rs 5
52-Week H/L : Rs 195/45.15

We had previously recommended Eveready Industries in Vol 36, No 50, dated October 05, 2020, when the scrip was trading at Rs 148.95 per share. It was recommend based on increase in demand for the company’s products as well as its positive outlook. Looking at the financial trends on consolidated basis, for Q2FY21, the net sales of the company increased by 6.95 per cent to Rs 372.63 crore from Rs 348.40 crore reported in Q2FY20. PBDT for Q2FY21 expanded by 152.36 per cent to be Rs 72.22 crore compared to Rs 28.62 crore in Q2FY20. Eveready Industries gained a net profit of Rs 58.02 crore which is an increase by 216.06 per cent compared to the net profit of Rs 18.36 crore gained in Q2FY20. Strong quarterly results boosted the company’s growth momentum. Hence, we recommended to Book Profit at Rs 164.90 as on November 17, 2020, with a gain of 10.71 per cent.