Dry cell battery major Eveready Industries, which commissioned India’s first alkaline battery manufacturing facility in Jammu on Wednesday, is aiming to increase its market share in the country’s alkaline battery segment to around 25 per cent in terms of value in the next three years from around 16 per cent at present.
Set up with an investment of around ₹200 crore, the greenfield plant, with an annual peak production capacity of around 360 million alkaline batteries, positioned the Kolkata-based company as the only domestic manufacturer in this fast growing segment. The plant will reduce the battery maker’s reliance on imports.
“We will stop completely importing any finished goods for the alkaline batteries. Parts of the raw material will continue to come from outside, because not all raw materials are easily available in the country,” Eveready Industries India Chief Executive Officer Anirban Banerjee told businessline.
With the localised production of finished goods for the alkaline batteries, the company expects to see around 10 per cent improvement in margins for the segment.
India’s total dry cell battery market is currently estimated at around ₹4,000 crore, in which carbon zinc dry cell battery is around ₹3,400 crore. While the total market is witnessing a growth of around 2-3 per cent, the alkaline battery segment is growing over 20 per cent. Alkaline batteries outperform carbon-zinc batteries in power continuity and longevity.
“Currently, the carbon zinc dry cell battery segment accounts for about 85 per cent of the total market, while the alkaline battery segment is at about 15 per cent. Two to three years ago, the mix was roughly 90-10 per cent. Over the next two to three years, I see it becoming 80-20,” Banerjee said.
Eveready Industries, the country’s leading battery brand with over 52 per cent market share in the dry cell battery segment, believes its facility will play a crucial role in supporting the company’s expansion in the alkaline segment while meeting the consumer demand which is driven by increasing adoption of high drain devices across India.
The company currently garners around 16 per cent of the country’s alkaline battery market. “My sense is over a three-year period, at our current rate, we should be about 1/4 of the alkaline battery market share in India. That is the aspiration and the direction that we will pursue. Certainly this factory gives us the leverage to make that acceleration,” the CEO said, adding the Jammu factory will also help the company even secure private labels to international markets.
On the back of soaring raw materials costs amid the West Asia crisis, the company has increased prices of carbon zinc dry cell batteries.
“Everyone in the category has increased prices. So, this now is a very common phenomena, because you just cannot absorb the raw material costs. The entire category looks to be pushing up the prices, unfortunately, at this point in time,” Banerjee added.
On Wednesday, Eveready Industries scrip jumped 8.29 per cent at ₹342.10 apiece on BSE from the previous close.
Published on April 22, 2026