The global economy in FY 2014-15 witnessed inconsistent patterns of growth across major geographies. India's economic performance, however, rebounded to 7.4% under the new method of calculating GDP adopted by the government. The growth came on the back of gradually improving performance in the industrial landscape, stable growth in the services sector and a resilient agricultural sector. Inflation is now moderating and both fiscal and current account deficits are narrowing down. The government's policy initiatives are certainly in the right direction. However, more structural reforms are needed for the US$ 2.1 trillion economy to accelerate sustainably.
The government's 'Make in India' initiative is expected to boost the confidence of indigenous manufacturers and encourage domestic expertise to make the most of the positive environment. We, at Eveready, welcome the dynamism of the new government and are committed to enrich lives with our portable energy and lighting solutions.
Eveready continues to be the industry frontrunner in the portable energy (dry battery and flashlight) segment, with sales of over 1.2 billion batteries and 25 million flashlights every year. We are honoured that Eveready continues to be one of the most trusted brands to millions of people across India for generations. From India's metros to the small cities and towns to sleepy hamlets, one brand still commands a lot of respect and recall. We promise to strengthen this trust and deliver consistent quality across all our product categories.
In FY 2014-15, we recorded a total revenue at Rs. 1,278 crores (Rs. 1,153 crores in FY 2013-14) - a growth of 11%. Your Company achieved healthy net profits of Rs. 49 crores, a significant increase from Rs. 13.60 crores in FY 2013-14, as we attained a higher growth margin.
The year saw us successfully counter multiple challenges from cheaper imports to declining rural demand through our extensive pan-India presence and brand leadership. As a result, we registered encouraging sales growth across product categories.
For our battery division, our sales volumes in the 'D' size category declined marginally, but the 'AAA' size category recorded healthy double-digit growth. Going forward, we shall continue to improve our margins and strengthen our distribution capabilities to take advantage of future market opportunities.
In our flashlights division, we enjoy 70% of the organised market and 40% of the total (both organised and unorganised) flashlight market. In the face of evolving competitive markets, we are introducing new models of flashlights and lamps that use LED bulbs.
Our prospects are promising in the electrical and lighting products business as the Indian LED market is expected to grow at a CAGR of 35.9% from 2014 to 2019, and reach Rs. 21,600 crores by 2020. We offer value-for-money 'brightest range of LED' lamps, which address various lighting solutions. We are also expanding our LED product portfolio to cater to the consistently growing LED market. We continue to leverage our wide distribution network and deepen our product portfolio to include lighting products, luminaires and devices.
In our packet tea division, without additional investment in advertising for Tez, Jaago, Premium Gold and Classic, our tea brands registered robust sales. We will continue to provide a sustainable turnover, adding scale to our operations and profitability.
We have added extensions like luminaires, tubelights, electrical appliances, primarily rechargeable fans and LED bulbs to our lighting solutions products. We increased our marketing efforts to enhance visibility of our new products basket. In addition, we are driving more automation for our sales force and introduced the Tableau software to enhance our existing data management systems. We are also putting a strong emphasis on products quality, cost optimisation and distribution capabilities to retain our market leadership.
I am thankful to our entire team for working hard to implement our strategies for future growth. We will also continue to touch more lives with better energy and lighting solutions, and remain dedicated to enhancing value for all stakeholders. At the same time, we will continue to drive our social initiatives to make a difference to the lives of those around us. Although it is hard to fill the vacuum created by Mr. Deepak Khaitan's untimely demise, let us all commit ourselves to living by his ideals to take Eveready to new heights of excellence and value creation.With warm regards,