Eveready hikes battery prices by 5-10 per cent | business | Hindustan Times
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Eveready hikes battery prices by 5-10 per cent

business Updated: Mar 13, 2010 11:37 IST

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Eveready Industries India has hiked the prices of its range of dry cell batteries by 5 to 10 percent, a senior company official said in Kolkata.

The prices were increased from Friday.

"Over the past 4-5 months there has been a continuous upward climb in the prices of zinc, a key raw material for making batteries, which has adversely impacted the manufacturing cost of carbon zinc batteries. The product segment also had to take on a hike in excise duty from 8 per cent to 10 per cent in the 2010 Union Budget.

"These have left us with very little option but to pass on a part of the increase in costs to the market. We are increasing the MRP of all types of batteries by 5 per cent to 10 per cent with immediate effect," Vice Chairman and Managing Director Deepak Khaitan said in a statement.

Eveready is country's largest producer of carbon zinc batteries selling about 1.2 billion batteries annually.