Eveready Industries share price jumped over 3 percent in the morning trade on July 2 after the company reported three-fold jump in its net profit at Rs 179.57 crore for the financial year 2019-20.
Eveready Industries India Ltd on July 1 reported over three-fold jump in its net profit at Rs 179.57 crore for FY2019-20, compared to Rs 47.26 crore in the last fiscal. Net profit surged multi fold to Rs 63.73 crore as against Rs 4.04 crore in Q4 FY19 in the January-March quarter of FY20.
The stock price surged over 78 percent in the last 3 months and was trading at Rs 89.65, up Rs 2.80, or 3.22 percent at 09:34 hours. It has touched a 52-week high of Rs 94.80. The scrip also witnessed spurt in volume by more than 1.62 times and was trading with volumes of 32,578 shares, compared to its five day average of 22,245 shares, an increase of 46.45 percent.
The company in a filing to the exchanges said that at the Meeting of the Board of Directors of the Company held on July 1, Aditya Khaitan, Vice Chairman, has been designated as the Chairman of t he Company.
EBITDA was down 1 percent YoY to Rs 121.13 crore in FY20 while EBITDA margin stood at 10 percent in FY20 against 8.4 percent in FY19.
According to Moneycontrol SWOT Analysis powered by Trendlyne, Eveready Industries has decreasing promoter pledge while the stock is showing strong momentum with price above short, medium and long term moving averages.
Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.
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