Eveready Industries India Ltd (EIIL) today said it is likely to report break even or post marginal profit for the just concluded fiscal 2012-13.
“We expect 6-7 per cent jump growth in topline close to Rs 1,050 crore against Rs 980 crore in 2011-12. We think, we will either break even or post marginal profit at net level in FY-13,” Amritanshu Khaitan, Executive Director, EIIL said here.
The company had reported Rs 79.9 crore net loss for 2011-12.
Asked about a deal for 25 acres in Hyderabad property, Khaitan said: “It is all rumour. The land is up for sale, it will take time.”
The stock price had hiked 10 per cent yesterday on rumours that EIIL had struck a deal totalling Rs 270 crore for its Hyderabad land.
EIIL has a total land bank of 50 acre in locations like Hyderabad, Noida and Lucknow which would be either sold directly or developed through joint ventures.
EIIL has in the past hived off land in Chennai and Mumbai.
Responding to the new product line-up, Khaitan said EIIL is expecting to garner Rs 50 crore from new rechargeable lighting products including lanterns in the first year of operations.
Rechargeable lighting currently contributes Rs 100 crore.
“We will introduce a host of household and lighting products, but restrict it to home products,” Khaitan said.
Meanwhile, remaining optimistic on double digit growth for 2013-14, Khaitan said the company is planning to hike battery price to improve the margin. The segment generates over 60 per cent of the total revenue of the company.
Khaitan was speaking at the launch of new household products like rechargeable LED study lamps, emergency lamps and rechargeable fan.