Eveready's target to double revenue in 3-4 years, says MD Suvamoy Saha

Alkaline battery market share will soon be in double digits, Saha said.

Leading battery maker and lighting manufacturer Eveready Industries India is targeting to double the revenue in three to four years and also looking to bring down debt to Rs 100 crore, managing director Suvamoy Saha has said.

In an interview to CNBC TV18, Saha said the alkaline battery market share will soon be in double digits. "Battery segment could grow at 7-8 percent," he said.

Alkaline batteries power TV remotes, trimmers and toys among other things. The company would like to leverage the under indexed alkaline business, he said.

Saha said the company was expecting a mid-single-digit lighting margin and aspire for double-digit margin in the business.

"Revenue growth to be more than 14 percent in FY24," Saha said.

The company was looking at a margin of 10-12 percent, and that debt should come down to Rs 100 crore in the coming years.

The company reported narrowing of its consolidated net loss to Rs 14.39 crore for the quarter ended March 2023.

Although, its revenue from operations was up 18.62 percent to Rs 286.17 crore during the quarter under review as against Rs 241.23 crore in the year-ago period.

The stock closed at Rs 336.70 on the National Stock Exchange, up 0.36 percent from the previous close.  apiece.