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Eveready Industries India Ltd.

BSE: 531508 Sector: Consumer
NSE: EVEREADY ISIN Code: INE128A01029
BSE LIVE 15:40 | 17 Oct 330.85 -2.30
(-0.69%)
OPEN

334.90

HIGH

336.00

LOW

329.00

NSE 15:59 | 17 Oct 327.45 -5.80
(-1.74%)
OPEN

335.80

HIGH

335.80

LOW

324.25

OPEN 334.90
PREVIOUS CLOSE 333.15
VOLUME 7280
52-Week high 358.80
52-Week low 190.00
P/E 28.35
Mkt Cap.(Rs cr) 2,405
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 334.90
CLOSE 333.15
VOLUME 7280
52-Week high 358.80
52-Week low 190.00
P/E 28.35
Mkt Cap.(Rs cr) 2,405
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Eveready Industries India Ltd. (EVEREADY) - Company History

Eveready Industries is a leading player in Indian dry cell batteries market. Incorporated in 1934 the company was - formerly a subsidiary of Union Carbide Corporation, US and was subsequently taken over by B M Khaitan and the Williamson Magor group of companies. The name of the company was changed to Eveready Industries LTD eleven years after its Bhopal plant was involved in one of the world's worst industrial disasters. Eveready Industries manufactures and markets Carbon Zinc Batteries, Rechargeable Batteries, Alkaline Batteries, Flashlights & Packet Tea. The Company was the first to introduce batteries in India in 1905. The Company has completed 100 years of its services and leads the market, in the segment of Dry Cell Batteries and Flashlights with a market share of 46%.EIL is the world's third largest producer of Carbon Zinc Batteries and selling more than a billion units a year. The company is the owner of popular drycell brand 'Eveready' and markets Carbon Zinc Batteries, Rechargeable Batteries, Alkaline Batteries & full range of brass,aluminum and plastic flashlights under this brandname in India. The packet tea is marketed under the brand name 'Greendale'. The capacity of the company to produce batteries stood at 1350 Million Pcs as on Mar 31, '05 and 12.5 Million Pieces for flashlights including the expansion carried out during the fiscal 2004-05. EIL entered alkaline batteries segment in 2001-02 by launching alkaline batteries under its own umberlla brand 'Eveready'. But before that in 1995 the company through Energizer India Pvt Ltd, a 50:50 JV between EIL and Ralston Purina Overseas Battery Company of US, manufactures reowned Energizer brand of alkaline batteries in India. In 1995, a MoU was signed with Gold Peak Industries, Hong Kong, to develop rechargeable Ni-Cd and Ni-Mg batteries in India. The company has already commenced marketing miniature watch batteries. During 1999-2000, the company commissioned a new poly sleeve jacketed battery line at Camperdown Works at Calcutta. EIL battery plant and metal processing plant at Calcutta, as well as the electrolytic manganese dioxide plant at Bombay have received the ISO 9002 certification. Since 1996-97 the company under goes series of mergers and demergers. In 1996-97, McLeod Russel India (MRIL) and Faith Investments were amalgamated with the company. The business of MRIL is being carried on by the company as its tea division in the trading name of Mcleod Russel. Later Bishnauth Tea Company was amalgamated with Eveready Industries India Ltd. And recently the company demerged its Bulk Tea division to McLeod Russel India Ltd (formely Eveready Company India Ltd, a Company floated to facilitate demerger) effective April 1, 2004. The company has decided to set up a factory in Uttaranchal for the manufacture of dry cell batteries with a capacity of 40 crore pieces per annum at an estimated investment of Rs.60 crores.The project is envisaged to be implemented before September 2006. The company has shifted its entire manufacturing facilities at Guindy, Chennai to its another existing unit at Chennai on Tiruvottiyur High Road. The integrated plant will have a capacity of upto 450 Million batteries per annum. As a result of this shifting, 8.39 acres of prime land at Guindy will be released and the company has entered into an agreement with Khivraj TechPark Ltd of Chennai for development of this site as a building complex particularly suitable for the Information Technology Sector, having a Information Technology sector, having a built-up area in excess of 10,00,000 Sq.ft. and build at a cost of the developer company Khivraj Techpark but towards consideration for the land the copany will in return gets an upfront payment of Rs.25 Crores and 20% of the built-up area together with proportionate car parking spaces. Williamson Magor & Co Ltd was ceased to be associate from 10th January 2005.