Eveready hikes Battery prices

Eveready Industries India Ltd, second largest manufacturer of Carbon Zinc batteries in the world, has announced a hike in the prices of its complete range of dry cell batteries.

"Over the past 4-5 months there has been a continuous upward climb in the prices of Zinc, a key raw material for making batteries, which has adversely impacted the manufacturing cost of Carbon Zinc batteries. The product segment also had to take on a hike in excise duty from 8% to 10% in the 2010 Union Budget. These have left us with very little option but to pass on a part of the increase in costs to the market. We are also increasing the MRP of all types of batteries by 5% to 10% with immediate effect", Mr Deepak Khaitan, Vice Chairman and Managing Director of Eveready Industries.

Eveready is the world's second largest producer of Carbon Zinc batteries selling about 1.2 billion batteries annually. Apart from dry cell batteries, Eveready offers a basket of FMCG products that find place in every household. This includes torches, rechargeable batteries, CFL & GLS lamps, packet tea and mosquito repellents.

In the last one year, Eveready has also launched a range of LED based lanterns aimed at semi/non-electrified households in rural villages of India; providing safe, efficient lighting which are cheaper than even kerosene lanterns in the long run.