Thursday, May 02, 2014: Eveready Industries India has appointed Amritanshu Khaitan as its new managing director. The decision was taken at the meeting of the Board of Directors of Eveready Industries India Ltd held on 5 May 2014. Khaitan was appointed as the MD with immediate effect, subject to approval of the members at the next Annual General Meeting of the company and/or Central Government, as may be required.
The company, which makes batteries, torches and lighting instruments, reported a net profit of Rs 136 million for the financial year ended 31 March, up from Rs 50.8 million reported in the previous year.
As per the company’s financial statement, it was able to bring down its debt from Rs 2,760 million to Rs 2,250 million during the year. However, the interest and finance costs fell from Rs 380.4 million to Rs 341.2 million. It is worth noting that the company recently raised the price of its batteries.
