Eveready Industries India Ltd. (EIIL) is an Indian company that manufactures and markets batteries and lighting products. The Eveready brand has been present in India since 1905. It also manufactures photogravure plates, castings, carbon electrodes and related products.
The Group's operating facilities are located at Kolkata, Bengaluru, Noida, Haridwar, Lucknow and Matia (Assam).
EIIL is the world's third largest producer of carbon zinc batteries, selling more than a billion units a year. EIIL is India's largest selling brand of dry cell batteries and flashlights (torches), with dominant market shares of about 46% and 85% respectively. In February 2022, the Burman group made an open offer to acquire 1.89 crore shares (around 26%) of the company at Rs 320 per share for an amount of Rs 604.76 crore. Following this, Chairman Aditya Khaitan and Managing Director Amritanshu Khaitan accepted the offer and resigned from the company.
History
Early history
EIIL started its operation in India in 1905. The first dry cell batteries were imported from the US and sold in the major cities of the country. These batteries were primarily used in imported torches.
In 1939, the company set up its first battery plant in Kolkata. This was followed by another battery manufacturing plant in Chennai in the year 1952. A torch manufacturing plant was set up at Lucknow in 1958. Today it is one of the largest torch manufacturing plants in South East Asia. The plant manufactures a wide range of brass, aluminum, and plastic torches.
In 1969, the now infamous factory in Bhopal was opened.
Success
By the time of the Bhopal Disaster in 1984, the company was ranked twenty-first in size among companies operating in India. It had revenues of Rs 2 billion (then equivalent to US$170 million). Fifty-one percent of the company (known at the time as UCIL) was owned by Union Carbide Corporation; remaining shares were held by 24,000 stockholders. Ten thousand people were employed in five operating divisions that manufactured batteries, carbon products, welding equipment, plastics, industrial chemicals, pesticides, and marine products. EIIL became part of the Williamson Magor Group through McLeod Russel Ltd in the latter half of 1994 following the sale of Union Carbide Corporation's stake in UCIL. UCIL is primarily a dry-cell battery manufacturer at the time, but as part of the Williamson Magor Group EIIL launched three brands of packet tea under the Greendale Brand umbrella – Tez, Jaago and Premium Gold. Coupled with EIIL's brands of packet tea are now easily available in most states in India. In 1997, the Eveready brand was extended to its packet tea business. McLeod Russel Ltd. eventually merged with Eveready Industries.
EIIL has the licence for the Eveready brand only in India, Bhutan and Nepal from Energizer Holdings, so it had to create a new brand for export to other markets where Energizer Holdings still has the rights to the Eveready brand. The brand LAVA was launched in 1999. LAVA batteries and flashlights have been sold in Dubai, Bahrain, Jordan, Sudan, Egypt, Bangladesh, Mauritius, Sri Lanka, Azerbaijan, Mexico, US, Lebanon, Saudi Arabia, Ethiopia and Nigeria.
During the fiscal year 2002, the group sold its wholly owned subsidiaries Dufflaghur Investments Limited and Natex Investment and Marketing Limited.
In 2005, EIIL celebrated its 100 anniversary in India. That same year, EIIL separated its bulk tea business and de-merged as McLeod Russel. EIIL also acquired BPL Soft Energy System in 2005.