Speaking on the back of Q4 results for FY13, Amritanshu Khaitan told CNBC-TV18 that he expected a turnover growth of 10-15 percent for FY14. With better operations, he expects a better bottomline for FY14.
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.
After launching new products like smartphone chargers and lighting products, Eveready says it is aiming at a 10-15 percent revenue growth in FY14.
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 posted a near 31 percent decline in net profit to Rs 2.08 crore for the quarter ended September 30 compared with Rs 3.03 crore in the year-ago period. Its net sales grew 12 percent to Rs 286.64 crore. During the same period last year, net sales stood at Rs 255.93 crore.
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.
Deepak Khaitan, Executive Vice Chairman of Eveready India, in an interview with CNBC-TV18's Udayan Mukherjee, gave his perspective of the fourth quarter performance and their divulged future plans.
In an interview with CNBC-TV18, Deepak Khaitan, Executive Vice Chairman, Eveready Industries, spoke about the results and his outlook for the company.