Bangalore, Mar 10 (UNI) Exide Industries Ltd, the largest lead acid storage battery and power storage solutions provider in the country, today launched its first 'SF Powerjunction' retail outlet to offer SF brand of industrial batteries.
The company, holding a market share of 75 per cent in branded batteries and 50 per cent in industrial batteries, would offer cost effective SF batteries priced much below the Exide brand. It had acquired the Standard Furukawa brand ten years ago.
Speaking to UNI here, Company Director (Industrial) Gautam Chatterjee said, ''We have already test launched the SF industrial range of batteries in certain small markets and it has been well received. Now we are ready to go national with the brand and consciously chose the electronic city of Bangalore for the first launch. The company would open 12 more such outlets in the coming fiscal.'' The SF brand would supplement and reinforce the mother brand of Exide by offering wider geographical coverage in terms of distribution and offer various other entry level price points.
''People who want branded but affordable stored power solution for their homes and small offices will benefit from the launch of SF range,'' he said.
Mr Chatterjee said the Exide industries had eight plants across the nation and envisaged an investment of Rs 160 crore for setting up a new facility and taking up expansion work. The new plant would come up at Haldia in West Bengal, he said.
Exide had targeted a turnover of Rs 3,000 crore during the current fiscal. It had planned to step up exports of traction batteries from the present 12 per cent to 20 per cent of its turnover.
Due to the fast growing automobile sector, the battery market in India was growing at nearly 40 per cent and Exide had exceeded the national growth by registering a sales growth of 60 per cent in automobile batteries and 40 per cent in industrial battery.
UNI RS GD SSI1555