Dry cell manufacturer Eveready Industries India has announced an increase in the prices of its entire range of pencil size batteries effective May 2013.
In a filing to the BSE, Vice-Chairman Deepak Khaitan said a continuous rise in the cost of raw materials and overhead expenses had impacted the cost of batteries adversely. The company was forced to pass on part of the impact to the market, and was hiking the price of an economy 10-battery strip by Rs 5 as well as rationalising trade margins.
Eveready is a market leader in the dry cell batteries business, selling more than 1.2 billion units annually. It also sells over 25 million units of flashlights in addition to other products.