Indo National, the company behind “Nippo”, is in talks for a stake in a lithium-ion battery manufacturer which offers products under other brand names, its chief executive officer told ET.
"We are evaluating and are in the final stages of taking a stake in a lithium-ion battery manufacturer to try and build our next level of upgrade on energy storage systems in that space," Pavan Kumar BVS told ET. "We also are looking at this as a foray into being an integral part and a strong ancillary support for most of the burgeoning electronics and automobile manufacturing sectors."
Kumar did not name the company but said the move ties into Indo National's strides towards diversifying beyond dry cell battery into newer chemistries because it is looking to achieve sustainable solutions and meet changing consumer needs.
The plan is also to take Indo National to a different plane and to leverage the brand Nippo to build a Rs 5,000-10,000-crore market in the next 10-15 years, he said.
"The dry cell battery market size has been at around Rs 1500-1800 crore and it has been stagnant," Kumar said. "If we have to scale up the business, we need to see what are the right adjacencies for the brand Nippo, and that's when we started looking at what are our strengths. Since we have been in the battery space--energy storage systems to be precise--we are evaluating how to upgrade ourselves into an advanced energy storage system. That is where this interest in working with a company in the lithium battery space comes in."
Apart from this, the company has been aggressive with its diversification into spaces like home care, sustainability and energy-efficient consumer electrical appliances, including brushless direct current motor (BLDC) fans and smart lighting solutions.
Most recently, it launched Swooper, a mosquito repellent, to tap India's Rs 3,700-crore mosquito repellent market, which is growing at a compound annual growth rate (CAGR) of 6.87%.
The company is also exploring other sectors as well, said Kumar.
"We are evaluating new-age health care solutions like consumer appliances in the respiratory segment as an extension of the home care category," Kumar said. "To serve the consumers with a purpose, we are evaluating circular economy solutions in battery space as well as medical devices. We are also looking at the design technology space for aerospace and defence."
"We are evaluating and are in the final stages of taking a stake in a lithium-ion battery manufacturer to try and build our next level of upgrade on energy storage systems in that space," Pavan Kumar BVS told ET. "We also are looking at this as a foray into being an integral part and a strong ancillary support for most of the burgeoning electronics and automobile manufacturing sectors."
Kumar did not name the company but said the move ties into Indo National's strides towards diversifying beyond dry cell battery into newer chemistries because it is looking to achieve sustainable solutions and meet changing consumer needs.
The plan is also to take Indo National to a different plane and to leverage the brand Nippo to build a Rs 5,000-10,000-crore market in the next 10-15 years, he said.
"The dry cell battery market size has been at around Rs 1500-1800 crore and it has been stagnant," Kumar said. "If we have to scale up the business, we need to see what are the right adjacencies for the brand Nippo, and that's when we started looking at what are our strengths. Since we have been in the battery space--energy storage systems to be precise--we are evaluating how to upgrade ourselves into an advanced energy storage system. That is where this interest in working with a company in the lithium battery space comes in."
Apart from this, the company has been aggressive with its diversification into spaces like home care, sustainability and energy-efficient consumer electrical appliances, including brushless direct current motor (BLDC) fans and smart lighting solutions.
Most recently, it launched Swooper, a mosquito repellent, to tap India's Rs 3,700-crore mosquito repellent market, which is growing at a compound annual growth rate (CAGR) of 6.87%.
The company is also exploring other sectors as well, said Kumar.
"We are evaluating new-age health care solutions like consumer appliances in the respiratory segment as an extension of the home care category," Kumar said. "To serve the consumers with a purpose, we are evaluating circular economy solutions in battery space as well as medical devices. We are also looking at the design technology space for aerospace and defence."
