Eveready aims to double turnover by FY'10

NEW DELHI: Battery major Eveready Industries India Ltd is looking at doubling its turnover to Rs 1,600 crore by 2009-10 on the back of its recently launched 'Ultima' alkaline battery and 'HomeLight' LED cells.

The company, which claims a 56 per cent share in the estimated Rs 1,200 crore Indian conventional zinc battery market, is seeking to diversify its expertise and focus more on LEDs, CFLs and alkaline batteries to strengthen its foothold.

"We have a 56 per cent share in the estimated Rs 1,200 crore conventional battery market and we are now seeking to focus more on alkaline batteries, CFLs, LEDs as they have the highest growth potential.

"We achieved a turnover of Rs 800 crore in 2007-08 and our plan is now to double it by 2009-10 on back of our venture into these segments," Eveready Industries India Ltd Executive Vice-President Ravi Grover told the media.

He said the company is looking at securing a sales figure of 40 lakh pieces of its newly launched 'HomeLight' LED operated battery and 50 lakh units of the 'Ultima' alkaline battery during the 2009-10 fiscal.