To enter civil aviation sector soon
Chennai, March 27
High Energy Batteries, an Esvin Group company, which manufactures batteries and cells for defence and space applications, is exploring the export markets and will soon enter the civil aviation market, according to Mr S. Sridharan, Managing Director, High Energy Batteries (India) Ltd.
The company is also in the advanced stages of developing fuel cells for military and commercial applications.
Of particular interest to the company is use of fuel cells for rural electrification.
They can be scaled up to 10-MW power output, he said.
Betting on new products
The company has upgraded the capabilities of some of its existing product lines and has approached the navy and air force to upgrade their systems with the new products.
Railways is also a potential customer, he said.
According to Mr Sridharan, these are areas that will contribute to the company doubling its turnover to Rs 50 crore in two years from its present Rs 27 crore.
Some of the export markets that it is looking at are Sri Lanka, Dubai, Indonesia and Malaysia. It has set up an international marketing wing that will look at Russia and the West.
High Energy's batteries are used in the Indian Air Force's MIGs, Sukhois and a wide range of helicopters.
Following the spurt in civil aviation, passenger and cargo segments, the company, which has the Director-General of Civil Aviation's clearance, has started receiving enquiries.
It will soon enter the market, Mr Sridharan said.
The Esvin group also has interests in paper and sugar and includes Seshasayee Paper and Boards and Ponni Sugars (Erode) Ltd.
For the quarter ended December 31, 2005, the company reported a net profit of Rs 54 lakh on net sales of Rs 7.6 crore.