Moreover, flashlights business showed a "soft trend" due to a high volume of low-cost products dumped by China
The move comes more than a year after the Burman family - promoters of Dabur India - became the largest shareholder in Eveready with a stake of 19.84%
After hefty provisioning for inter-group loans, the Khaitan-managed company says it is back on track. But who will be in control from here on remains an open question
The Eveready stock, however, moved up 6.11% to close at Rs 333.35 on BSE
The trading volumes on the counter jumped over 10-fold with a combined around 5.2 million equity shares, representing 7.1 per cent of total equity of Eveready Industries, changing hands on the NSE and
As imports reduced, Eveready clocked significant volume growth in batteries
Promoters are also exploring capital infusion into certain promoter group companies and monetisation of certain assets of the group
Eveready's Q1 PBT rises 234% on upward price revision, better product mix
Dabur's Burman family emerges as largest shareholders in Eveready, with 19.84% stake
All that happened in the markets today
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Family picks up 3.34% in India's largest battery maker with latest move, may consider further investments depending on how the company performs
The pre-tax profit, adjusted against the one-time land sale and separation costs, remained flat at Rs 21.20 crore
Eveready managing director, Amritanshu Khaitan did not confirm a deal with Duracell but said that the company continues to look at opportunities and discuss various joint ventures or strategic tie-ups
Battery division sell-off may be delayed
In the grip of a financial maelstrom, the brand is fighting with its back to the wall
While MJIL's Rs 55-cr packet tea business is limited to Maharashtra and Karnataka, Eveready's three tea brands are sold in 14 states; deal wll give MJIL access to 2,800 distributors
The company had posted a loss of Rs. 16.12 crore in the fourth quarter of the 2017-18 fiscal year with gross sales of Rs. 349.75 crore
Almost half the promoters' holdings in Eveready was pledged as collateral at the end of March. An e-mail sent to the company didn't elicit any response
Battling debt problems is not exactly new for the group. In 2000, Eveready had run up a debt of more than Rs 600 crore