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Eveready forays into confectionery business

Press Trust of India  |  Kolkata 

Dry cell batteries Industries Limited (EIIL) today said it is entering the business as part of its diversification plan.

"Jollies will be launched in the first step to scale up our FMCG portfolio of products," said today.

Jollies will be introduced in the fruit chew segment priced at Re 1. The segment is estimated to be around Rs 400 crore and is growing at a rapid pace, he added.

said that the fast growing fruit chew segment will double in the next 3-4 years and expects to become a significant by making the "under-penetrated" category available across urban and rural through its

The company is working on an asset-light model involving outsourcing, and believes it can add significant turnover and profitability with an entry into the segment.

The company has forayed into lighting and small appliances besides hiving off its packet tea business to a joint Special Purpose Vehicle with

Claiming that distribution is one of its key strengths, the company says would provide an opportunity to not only complement the current basket of products but also give an opportunity to offer value-added products to the companys vast up-country distribution.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 08 2018. 16:00 IST