Eveready Industries India is looking beyond its traditional dry cell battery business and is banking on newly-entered electrical appliances segment along with LED lighting to become major growth drivers.
This is expected to be around 30 per cent of the company’s total turnover for the ongoing fiscal. It had a revenue of Rs 13.93 billion for FY2016. In the nine months ended December 31, 2016 its revenue was at Rs 11.01 billion.
According to PTI, Eveready Industries India Managing Director Amritanshu Khaitan said that any company has to chart out a growth strategy to take it to the next level. Eveready also have aspirations for higher growth rate, which only batteries and flashlight cannot reach.
Elaborating on the company’s roadmap, he said in FY2018, the new category of appliances and fans should cross turnover of Rs 1 billion.
On the LED business, he said that their diversification into the LED space has been very successful in the last two years. As a result, he said, the overall lighting business has grown almost double in the last three years.
Kahitan added that the LED lighting category should contribute about Rs 4 billion (this fiscal).
He, however, said the battery business would continue to be the company’s mainstay.
Khaitan said that as a category, it is the cash cow for the company and it’s highly profitable. It is giving us a lot of cash flow to invest.
