Eveready Industries India posted a subdued set of earnings in Q1 as EBITDA margins were weak and battery volumes took a hit because of goods and services tax (GST).
In an interview to CNBC-TV18, Amritanshu Khaitan, MD of Eveready India spoke about the results and his outlook for the company.
It is purely the GST impact, which had a negative volume growth in our battery segment which is our largest segment, he said.
Volume and value loss on battery was around 10 percent, said Khaitan.
July sales have been encouraging, the total de-growth we saw was in the month of June which impacted the quarter. July has seen volume growth across all the segments but it is not enough to have recovered the de-growth of June, so we have stated that hopefully by end of Q2 things will normalise, he further mentioned.
He also said that post Q2 we should see a healthier growth for the categories hoping that the GST impact on the unorganised segment would result in increasing market share for all our segments, he further mentioned.
Saw very strong performance in the LED segment, he added.
For full interview, watch accompanying video...
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