Eveready Industries India is looking to double its turnover to Rs 2,000 crore in the next three years, through organic and inorganic options.
Deepak Khaitan, executive vice chairman and managing director, Eveready, said, 45 per cent of the turnover would come from batteries while majority of the balance would be split between flashlights and lighting solutions. The company also has packet tea and mosquito repellants in the non-battery segment. Eveready is eyeing an entry into other FMCG segments. Khaitan said, “We have mandated a team to scout for acquisitions in India. The size could be Rs 150-200 crore.” Around 25 product categories have been identified. Last year, Eveready bought an 80 per cent stake in France’s rechargeable battery maker Uniross SA.
However, all products except batteries would be outsourced over a period of time. The company produces its own batteries and the brass torches are manufactured at its Lucknow factory which will cease to exist over a period of time, said Khaitan.
