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Lighting & Appliances Growth Drivers For Eveready: Amritanshu Khaitan

Within this fiscal the company would finalise the understanding with McLeod Russel India as a strategic partner for the packet tea business which required special focus

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Eveready Industries India ltd (EIIL) on Monday (7 August) has said lighting and home appliances would be the growth drivers for the future of the company.

"Lighting and home appliances will be the growth drivers for future as so company had diversified in these categories. We are planning exclusive stores for lighting and appliances in FY18'," Managing Director Amritanshu Khaitan told PTI.

He also said within this fiscal the company would finalise the understanding with McLeod Russel India as a strategic partner for the packet tea business which required special focus.

The company was in dialogue with McLeod for participating in a joint venture as a strategic business partner as packet tea remains limited in the company's revenue share.

Khaitan said the company will continue to pursue the government business in lighting.

"Besides participating in LEDs we will now participate in tenders of both Centre and state governments for street lighting," he said.

According to estimates some 30 million street lights will be switched to LEDs.

New products in professional lightings, indoor and outdoor luminaries would help in complete our range, Khaitan added.

Lighting and small appliances combined shares for about 20-25 per cent of company's revenue which is still driven by storage batteries.

Meanwhile, despite Goods and Services Tax blow in the first quarter, EIIL remained optimistic in volume growth in all categories.

(PTI)