Eveready Expects Flashlight Business To Grow By 10% In FY25, Says MD Suvamoy Saha
Growth in the lighting business will be driven by an uptick in rural demand, Saha said.
The flashlight division of Eveready Industries India Ltd. is likely to report a value growth of 10% in the current fiscal, on the back of innovative launches in the lighting and flashlight segments, the company's managing director, Suvamoy Saha, said.
“We feel that with the kind of innovative products that we are bringing to the range, the flashlight segment will play a more significant role in improving the overall turnover of the company,” Saha told NDTV Profit while launching its new flashlight, Siren Torch, on Tuesday in Mumbai.
With the Siren Torch, Eveready has launched a first-of-its-kind battery-run torch that lets users alarm passersby in situations of distress. The torch contains 100 decibels of SOS alarm that can act as a safety tool for users, especially women, the specially abled and people living in remote areas. The torch, priced at Rs. 225, is compact and handbag-friendly, it said.
The product is available in three colours and can be charged via a USB Type-B charger. The company is also planning to collaborate with cab service providers and vehicle charging stations for the distribution and promotion of the new torch.
Currently, the flashlight business contributes about 13% of the company's revenue, while 65% of sales come from the larger battery business.
According to Saha, demand for flashlights was weak and segment growth was flat during the last fiscal, due to sluggish rural demand and internal challenges related to the company’s distribution channel.
The battery maker had pushed back its plans to enter a new category by a year and decided to consolidate its businesses to ensure rapid growth after facing challenges with its revamped route-to-market. “The route-to-market challenges that we faced are by and large over now,” Saha said.
He is bullish on the prospects of the lighting business, which is set to grow by over 10% in fiscal 2025. According to him, growth in the lighting business will be driven by an uptick in rural demand, followed by focused launches in the segment.
The company is hopeful that muted demand in the rural segment will end and expects some green shoots very soon, said Saha. "So, rural demand will not be a constraint for our growth this year,” he said.
In the run-up to the Union budget, Saha said that food inflation is “prohibiting” consumers from spending in other areas. Hence, he expects the government to introduce measures to curb food inflation.
