INDO-NATIONAL LTD. Q3 FY25 Results

In Q3FY25, challenging macro-economic conditions and persistent inflationary pressures continued to weigh on consumer spending though festive demand, initial signs of a recovery in rural markets and traction from e-commerce and quick-commerce platforms provided pockets of resilience. Against this backdrop, we are pleased to report Revenues of Rs. 121.6 crore, marginally higher on a year-on-year basis. The core battery business witnessed healthy growth while categories of LED lights and torches were impacted by lower realisation. The Mosquito Repellent category demonstrated upward traction on the back of agile marketing activities enabling us to improve volumes and increase customer acceptance. The improved offtake of alkaline batteries has enabled Nippo to gain battery market share for the third consecutive quarter continuing the outperformance of the Battery category. Better inventory management and a sharper focus on consumer segments has driven volume growth. Further, an augmented channel strategy and enhanced marketing activities are providing structural benefits across reach, visibility and brand salience. Our sales and distribution efforts are gaining momentum, marked by expanded store presence in modern trade and pharmacy chains. We have increased touchpoints across our network, with recent product introductions like Thor and Swooper now stocked widely, enhancing the range available to consumers. Concurrently, targeted channel finance initiatives are aiding overall performance. This quarter also saw progress in further transforming our organizational leadership strengths, reduced defects in manufacturing processes, improved working capital alongside early wins from cost-efficiency measures. We are encouraged by this progress, particularly as strategic initiatives begin to deliver tangible results: an expanded product portfolio, more agile marketing, and a fortified omni-channel presence. Looking ahead, we are poised to launch innovative products from our pipeline which will revive the growth momentum.