EVEREADY INDUSTRIES BETS ON THE APPLIANCES AND LED BUSINESSES FOR GROWTH
Eveready Industries India is looking beyond its traditional dry cell battery business and hopes that its new electrical appliances and LED lighting businesses will become major growth drivers.
The 110-year-old company, which forayed into fans and air purifiers earlier this year, expects ` 5 billion in revenues to come from the appliances and the LED lighting segments this fiscal year.
This is expected to be around 30 per cent of the company’s total turnover for the period. Eveready earned a revenue of ` 13.93 billion in FY 2016. In the nine months ended December
31, 2016, its revenue was at ` 11.01 billion.
With respect to the LED business, the firm’s MD, Amritanshu Khaitan said that the firm’s diversification into the space has proved to be very successful. As a result, the company’s overall lighting business has grown almost two times in the last three years.