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Last Updated: April 2, 2026, 2:53 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 531508 | NSE: EVEREADY

Eveready Industries India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹272.20Fairly Valued by 2.09%vs CMP ₹278.00

P/E (26.7) × ROE (19.5%) × BV (₹65.00) × DY (0.54%)

₹148.69Overvalued by 46.51%vs CMP ₹278.00
MoS: -87% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹264.3522%Fair (-4.9%)
Graham NumberEarnings₹89.8516%Over (-67.7%)
Earnings PowerEarnings₹23.1611%Over (-91.7%)
DCFCash Flow₹7.7113%Over (-97.2%)
Net Asset ValueAssets₹65.067%Over (-76.6%)
EV/EBITDAEnterprise₹203.029%Over (-27%)
Earnings YieldEarnings₹55.207%Over (-80.1%)
ROCE CapitalReturns₹392.869%Under (+41.3%)
Revenue MultipleRevenue₹185.385%Over (-33.3%)
Consensus (9 models)₹148.69100%Overvalued
Key Drivers: Wide model spread (₹8–₹393) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -2.9%

*Investments are subject to market risks

Investment Snapshot

53
Eveready Industries India Ltd scores 53/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health59/100 · Moderate
ROCE 17.0% GoodROE 19.5% ExcellentD/E 1.38 High debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.19% (6mo) Slight increasePromoter holding at 43.2% Stable
Earnings Quality50/100 · Moderate
OPM stable around 11% Steady
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +8% YoY GrowingProfit (4Q): -50% YoY Declining
Industry Rank45/100 · Moderate
P/E 26.7 vs industry 31.3 In-lineROCE 17.0% vs industry 22.5% Average3Y sales CAGR: 4% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:53 am

Market Cap 2,017 Cr.
Current Price 278
Intrinsic Value₹148.69
High / Low 475/260
Stock P/E26.7
Book Value 65.0
Dividend Yield0.54 %
ROCE17.0 %
ROE19.5 %
Face Value 5.00
PEG Ratio-9.26

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Eveready Industries India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Eveready Industries India Ltd 2,017 Cr. 278 475/26026.7 65.00.54 %17.0 %19.5 % 5.00
Indo National Ltd 214 Cr. 286 589/255 5311.75 %32.9 %36.7 % 5.00
Panasonic Energy India Company Ltd 197 Cr. 263 416/24835.9 1383.58 %17.6 %11.6 % 10.0
Industry Average809.33 Cr275.6731.30244.671.96%22.50%22.60%6.67

All Competitor Stocks of Eveready Industries India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 330.43286.17363.57364.89304.91280.90349.37362.61333.50299.04374.14386.78367.24
Expenses 306.46285.14319.77318.57280.23255.38299.61314.83304.28273.43320.46337.68334.25
Operating Profit 23.971.0343.8046.3224.6825.5249.7647.7829.2225.6153.6849.1032.99
OPM % 7.25%0.36%12.05%12.69%8.09%9.09%14.24%13.18%8.76%8.56%14.35%12.69%8.98%
Other Income 0.037.642.840.050.38-0.380.220.670.300.29-4.65-37.40-9.01
Interest 9.5720.738.998.207.897.247.046.256.595.825.674.924.76
Depreciation 6.887.057.207.176.859.037.537.187.007.937.117.217.01
Profit before tax 7.55-19.1130.4531.0010.328.8735.4135.0215.9312.1536.25-0.4312.21
Tax % 27.95%-24.70%18.36%17.94%18.51%9.24%17.09%15.59%17.77%14.24%16.61%1,739.53%38.98%
Net Profit 5.44-14.3924.8625.448.418.0529.3629.5613.1010.4230.23-7.917.45
EPS in Rs 0.75-1.983.423.501.161.114.044.071.801.434.16-1.091.02

Last Updated: February 6, 2026, 1:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 1:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,1531,2791,3241,3571,4561,5071,2211,2491,2071,3281,3141,3451,427
Expenses 1,0631,1551,2011,2231,3521,3821,1001,0241,0881,2181,1731,1921,266
Operating Profit 91124123134104124121225119110141153161
OPM % 8%10%9%10%7%8%10%18%10%8%11%11%11%
Other Income 94892012198-6285921-51
Interest 41343124295571524857322621
Depreciation 42321415192229272727303029
Profit before tax 1662861057660219-4824835819960
Tax % 18%21%19%11%30%20%19%-35%4%20%17%16%
Net Profit 144969945348178-3124628678240
EPS in Rs 1.876.739.5012.877.316.5824.53-42.866.393.809.1911.345.52
Dividend Payout % 267%0%21%0%21%0%0%0%0%0%11%13%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)250.00%40.82%36.23%-43.62%-9.43%270.83%-275.28%114.74%-39.13%139.29%22.39%
Change in YoY Net Profit Growth (%)0.00%-209.18%-4.58%-79.85%34.18%280.27%-546.11%390.02%-153.87%178.42%-116.90%

Eveready Industries India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:1%
5 Years:2%
3 Years:4%
TTM:5%
Compounded Profit Growth
10 Years:5%
5 Years:10%
3 Years:21%
TTM:25%
Stock Price CAGR
10 Years:6%
5 Years:27%
3 Years:10%
1 Year:-1%
Return on Equity
10 Years:24%
5 Years:31%
3 Years:16%
Last Year:20%

Last Updated: September 5, 2025, 3:45 am

Balance Sheet

Last Updated: January 7, 2026, 3:39 pm

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 36363636363636363636363636
Reserves 557588170253306340519209254283350425436
Borrowings 225228200216264408394447396398307312357
Other Liabilities 289248263300422423307330253265270314331
Total Liabilities 1,1081,1016698051,0291,2071,2561,0229399839631,0881,161
Fixed Assets 730696222334357343328314305310293304303
CWIP 1428226353341881128
Investments 0000075108888
Other Assets 363376425465668853919704630664654695722
Total Assets 1,1081,1016698051,0291,2071,2561,0229399839631,0881,161

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 937212582817013317313437154130
Cash from Investing Activity + -6-29-56-68-100-145-15-106-55-19-23-95
Cash from Financing Activity + -90-37-80-5-3776-114-4-108-59-127-36
Net Cash Flow -36-119-562463-29-424-1
Free Cash Flow 873997-2448462701611221212034
CFO/OP 102%66%115%66%100%69%122%100%111%36%101%96%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-134.00-104.00-77.00-82.00-160.00-284.00-273.00-222.00-277.00-288.00-166.00-159.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 161419233033151011283228
Inventory Days 12211710512412195104131122115122143
Days Payable 109898896124988995817482102
Cash Conversion Cycle 284236502730304651697268
Working Capital Days -37-18-3293387-38-2471418
ROCE %6%11%18%28%18%19%15%25%14%13%16%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 43.21%43.21%43.21%43.21%43.20%43.19%43.19%43.19%43.19%43.19%43.21%43.21%
FIIs 0.44%0.40%0.48%0.46%3.60%3.68%3.92%4.21%4.86%4.96%5.21%5.05%
DIIs 2.42%2.17%2.93%2.55%2.66%2.59%2.61%2.77%2.63%2.51%2.70%2.76%
Public 53.92%54.21%53.39%53.78%50.53%50.53%50.28%49.82%49.34%49.35%48.88%48.99%
No. of Shareholders 50,34649,59554,25658,52157,63966,00269,97969,55569,21270,09765,37164,571

Shareholding Pattern Chart

No. of Shareholders

Eveready Industries India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Tata Small Cap Fund 1,772,916 0.55 59.711,772,9162025-04-22 17:25:360%
Taurus Ethical Fund 151,445 1.39 5.08N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 11.349.183.806.39-42.86
Diluted EPS (Rs.) 11.349.183.806.39-42.86
Cash EPS (Rs.) 15.4213.357.5710.36-38.55
Book Value[Excl.RevalReserv]/Share (Rs.) 63.4453.2043.9539.9133.69
Book Value[Incl.RevalReserv]/Share (Rs.) 63.4453.2043.9539.9133.69
Revenue From Operations / Share (Rs.) 184.97180.81182.66166.02171.83
PBDIT / Share (Rs.) 21.1719.7016.3317.2431.73
PBIT / Share (Rs.) 17.0915.5412.5613.4627.98
PBT / Share (Rs.) 13.5511.094.776.85-65.81
Net Profit / Share (Rs.) 11.349.193.806.58-42.30
NP After MI And SOA / Share (Rs.) 11.349.193.806.39-42.86
PBDIT Margin (%) 11.4410.898.9310.3818.46
PBIT Margin (%) 9.238.596.878.1016.28
PBT Margin (%) 7.326.132.614.12-38.29
Net Profit Margin (%) 6.135.082.083.96-24.61
NP After MI And SOA Margin (%) 6.135.082.083.85-24.94
Return on Networth / Equity (%) 17.8717.268.6416.02-127.19
Return on Capital Employeed (%) 19.1720.2316.4819.4341.26
Return On Assets (%) 7.586.932.814.94-30.64
Long Term Debt / Equity (X) 0.340.370.650.630.89
Total Debt / Equity (X) 0.620.731.171.281.38
Asset Turnover Ratio (%) 1.311.351.381.231.10
Current Ratio (X) 1.161.151.080.940.91
Quick Ratio (X) 0.500.520.470.390.44
Inventory Turnover Ratio (X) 5.001.972.341.881.89
Dividend Payout Ratio (NP) (%) 8.810.000.000.000.00
Dividend Payout Ratio (CP) (%) 6.480.000.000.000.00
Earning Retention Ratio (%) 91.190.000.000.000.00
Cash Earning Retention Ratio (%) 93.520.000.000.000.00
Interest Coverage Ratio (X) 5.994.432.102.614.43
Interest Coverage Ratio (Post Tax) (X) 4.213.071.492.007.19
Enterprise Value (Cr.) 2482.712708.162466.532750.372222.98
EV / Net Operating Revenue (X) 1.852.061.862.281.78
EV / EBITDA (X) 16.1418.9120.7821.959.64
MarketCap / Net Operating Revenue (X) 1.641.851.582.021.57
Retention Ratios (%) 91.180.000.000.000.00
Price / BV (X) 4.776.296.578.398.03
Price / Net Operating Revenue (X) 1.641.851.582.021.57
EarningsYield 0.030.020.010.01-0.15

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Eveready Industries India Ltd. is a Public Limited Listed company incorporated on 20/06/1934 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L31402WB1934PLC007993 and registration number is 007993. Currently Company is involved in the business activities of Manufacture of primary cells and primary batteries nd rechargable batteries, cells containing manganese oxide, mercuric oxide silver oxide or other material. Company's Total Operating Revenue is Rs. 1343.92 Cr. and Equity Capital is Rs. 36.34 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Dry Cells2, Rainey Park, Kolkata West Bengal 700019Contact not found
Management
NamePosition Held
Dr. Anand Chand BurmanChairman & Non-Exe.Director
Mr. Suvamoy SahaManaging Director
Mr. Mohit BurmanNon Executive Director
Mr. Arjun LambaNon Executive Director
Mr. Girish MehtaNon Executive Director
Mr. Utsav ParekhNon Executive Director
Ms. Arundhuti DharInd. Non-Executive Director
Mr. Mahesh ShahInd. Non-Executive Director
Mr. Roshan L JosephInd. Non-Executive Director
Mr. Sourav BhagatInd. Non-Executive Director
Mr. Sunil Kumar AlaghInd. Non-Executive Director
Mr. Sunil SikkaInd. Non-Executive Director
Mr. Ashok Kumar BaratInd. Non-Executive Director

FAQ

What is the intrinsic value of Eveready Industries India Ltd and is it undervalued?

As of 11 April 2026, Eveready Industries India Ltd's intrinsic value is ₹148.69, which is 46.51% lower than the current market price of ₹278.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (19.5 %), book value (₹65.0), dividend yield (0.54 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Eveready Industries India Ltd?

Eveready Industries India Ltd is trading at ₹278.00 as of 11 April 2026, with a FY2026-2027 high of ₹475 and low of ₹260. The stock is currently near its 52-week low. Market cap stands at ₹2,017 Cr..

How does Eveready Industries India Ltd's P/E ratio compare to its industry?

Eveready Industries India Ltd has a P/E ratio of 26.7, which is below the industry average of 31.30. This is broadly in line with or below the industry average.

Is Eveready Industries India Ltd financially healthy?

Key indicators for Eveready Industries India Ltd: ROCE of 17.0 % indicates efficient capital utilization; ROE of 19.5 % shows strong shareholder returns. Dividend yield is 0.54 %.

Is Eveready Industries India Ltd profitable and how is the profit trend?

Eveready Industries India Ltd reported a net profit of ₹82 Cr in Mar 2025 on revenue of ₹1,345 Cr. Compared to ₹46 Cr in Mar 2022, the net profit shows an improving trend.

Does Eveready Industries India Ltd pay dividends?

Eveready Industries India Ltd has a dividend yield of 0.54 % at the current price of ₹278.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Eveready Industries India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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