Chennai-based Nippo Batteries is planning to launch rechargeable batteries in the coming months. The company, which has a market share of about 32 per cent in the lighting battery industry, has set a target to grow by 3-4 per cent in value terms in the next two years.
Addressing shareholders at the company’s AGM today, chairman S Natarajan said Nippon's production dropped to 653 million pieces from 668 million and sales dropped to 642 million from 670 million pieces.