Diversification to light up revenue of Eveready Industries

A century old established Eveready which is synonymous to battery has 50 per cent plus market share in India’s durable battery market. However, apart from relying on the achievements of its leadership position in the battery market, company is looking to expand its presence in recently entered (electrical appliance and LED lighting) segments.

Home appliance industry size in India is estimated at Rs.15000 crore. To encash opportunity arising from growing electric appliance industry, it has entered the segment with introduction of fans, geysers, food processors, air purifiers, etc.

The company expects to generate around Rs 500 crore revenue from appliance and LED lighting segment in current financial year. Moreover, the last year introduced electric appliance segment is expected to contribute Rs 100 crore to revenue; whereas, LED lighting segment (forayed in FY15) is expected to contribute Rs 400 crore to revenue.

This is expected to be around 30% of the company's total turnover for the ongoing fiscal. It had revenue of Rs 1,393.87 crore for FY2016. In the nine months ended December 31, 2016 its revenue was at Rs 1,101.14 crore.