According to Amritanshu Khaitan, Eveready Industries is likely to maintain margins at around 8 percent for the full year. The company recently increased its battery prices to battle cost pressures due to rupee depreciation.
After announcing an initial price hike, Amritanshu Khaitan, ED, Eveready India says the company will now adopt a wait and watch approach and see how margins and the rupee behaves, and then take a call on further price hikes.
In an interview to CNBC-TV18, Amritanshu Khaitan, ED, Eveready India says, even though historically January to March has always been a lean quarter, the car battery manufacturer expects profits and sales growth in Q4 of FY13 to be better than that Q4 of FY12.
In an interveiw to CNBC-TV18, Amritanshu Khaitan, ED of Eveready India said, they are diversifying into newer products to increase revenue stream. "We will use this product launch as a strategy to revitalise and reenergise the brand, which has been a very strong pan India brand for the last 100 years, " he added.
Eveready has been running up on expectations of a land deal, but Deepak Khaitan, executive vice chairman, Eveready India says it is not on the cards yet.
Eveready Industries had indicated to sell its 25 acre Hyderabad based land. Last quarter wasn’t great for Eveready; primarily it was on account of high raw material cost, foreign exchange devaluation.
Deepak Khaitan, executive vice president at Eveready Industries India, tells CNBC-TV18 that proceeds from land sale will help bring down debt; however, the company is not in a hurry to sell land.