EVEREADY INDUSTRIES 2024-25 Annual Report Analysis

Thu, 14 Aug

EVEREADY INDUSTRIES has announced its results for the year ended March 2025. Let us have a look at the detailed performance review of the company during FY24-25.

EVEREADY INDUSTRIES Income Statement Analysis

• Operating income during the year rose 2.3% on a year-on-year (YoY) basis.
• The company's operating profit increased by 10.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 11.3% in FY25 as against 10.5% in FY24.
• Depreciation charges decreased by 2.0% and finance costs decreased by 20.5% YoY, respectively.
• Other income declined by 68.6% YoY.
• Net profit for the year grew by 23.5% YoY.
• Net profit margins during the year grew from 5.1% in FY24 to 6.1% in FY25.

EVEREADY INDUSTRIES Income Statement 2024-25

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Net Sales	Rs m	13,143	13,445	2.3%
Other income	Rs m	47	15	-68.6%
Total Revenues	Rs m	13,190	13,460	2.0%
Gross profit	Rs m	1,385	1,524	10.0%
Depreciation	Rs m	303	296	-2.0%
Interest	Rs m	323	257	-20.5%
Profit before tax	Rs m	806	985	22.2%
Tax	Rs m	139	161	15.8%
Profit after tax	Rs m	668	824	23.5%
Gross profit margin	%	10.5	11.3
Effective tax rate	%	17.2	16.3
Net profit margin	%	5.1	6.1

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EVEREADY INDUSTRIES Balance Sheet Analysis

• The company's current liabilities during FY25 stood at Rs 5 billion as compared to Rs 4 billion in FY24, thereby witnessing an increase of 12.6%.
• Long-term debt stood at Rs 2 billion as compared to Rs 1 billion during FY24, a growth of 9.7%.
• Current assets rose 14% and stood at Rs 5 billion, while fixed assets rose 21% and stood at Rs 4 billion in FY25.
• Overall, the total assets and liabilities for FY25 stood at Rs 10 billion as against Rs 8 billion during FY24, thereby witnessing a growth of 17%.

EVEREADY INDUSTRIES Balance Sheet as on March 2025

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Networth	Rs m	3,867	4,611	19.2
Current Liabilities	Rs m	4,164	4,691	12.6
Long-term Debt	Rs m	1,435	1,574	9.7
Total Liabilities	Rs m	8,265	9,665	16.9
Current assets	Rs m	4,755	5,406	13.7
Fixed Assets	Rs m	3,510	4,259	21.3
Total Assets	Rs m	8,265	9,665	16.9

EVEREADY INDUSTRIES Cash Flow Statement Analysis

• EVEREADY INDUSTRIES's cash flow from operating activities (CFO) during FY25 stood at Rs 1 billion on a YoY basis.
• Cash flow from investing activities (CFI) during FY25 stood at Rs -955 million, an improvement of 317.0% on a YoY basis.
• Cash flow from financial activities (CFF) during FY25 stood at Rs -359 million, an improvement of 72% on a YoY basis.
• Overall, net cash flows for the company during FY25 stood at Rs -14 million from the Rs 42 million net cash flows seen during FY24.

EVEREADY INDUSTRIES Cash Flow Statement 2024-25

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-24	Mar-25
Cash Flow from Operating Activities	Rs m	1,539	1,297	-15.7%
Cash Flow from Investing Activities	Rs m	-229	-955	-
Cash Flow from Financing Activities	Rs m	-1,268	-359	-
Net Cash Flow	Rs m	42	-14	-

Current Valuations for EVEREADY INDUSTRIES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 11.3, an improvement from the EPS of Rs 9.2 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 407.6, stands at 35.6 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 6.4 times, while the price to sales ratio stands at 2.2 times.
• The company's price to cash flow (P/CF) ratio stood at 25.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Sales per share (Unadj.)	Rs	180.8	185.0
TTM Earnings per share	Rs	9.2	11.3
Diluted earnings per share	Rs	9.2	11.3
Price to Cash Flow	x	25.1	25.4
TTM P/E ratio	x	36.4	35.6
Price / Book Value ratio	x	6.8	6.2
Market Cap	Rs m	26,464	28,483
Dividends per share (Unadj.)	Rs	1.0	1.5

Ratio Analysis for EVEREADY INDUSTRIES

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.2x during FY25, from 1.1x during FY24. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 4.8x during FY25, from 3.5x during FY24. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company improved and stood at 17.9% during FY25, from 17.3% during FY25. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company declined and down at 20.1% during FY25, from 21.3% during FY24. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company declined and down at 11.2% during FY25, from 12.0% during FY24. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Current ratio	x	1.1	1.2
Debtors’ Days	Days	315	278
Interest coverage	x	3.5	4.8
Debt to equity ratio	x	0.4	0.3
Return on assets	%	12.0	11.2
Return on equity	%	17.3	17.9
Return on capital employed	%	21.3	20.1

To see how EVEREADY INDUSTRIES has performed over the last 5 years, please visit here.

EVEREADY INDUSTRIES Share Price Performance

Over the last one year, EVEREADY INDUSTRIES share price has moved down from Rs 447.8 to Rs 407.6, registering a loss of Rs 40.2 or around 9.0%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 59,076.9 (up 0.8%). Over the last one year it has moved down from 59,850.5 to 59,076.9, a loss of 774 points (down 1.3%).

Overall, the S&P BSE SENSEX is up 1.3% over the year.

(To know more, check out historical annual results for EVEREADY INDUSTRIES and quarterly results for EVEREADY INDUSTRIES)