Panasonic Energy India Company Ltd Share Price

History of Panasonic Energy India Company Ltd

Panasonic Energy India Company Ltd, founded in 1972 as Lakhanpal National, Matsushita Lakhanpal Battery India Ltd (MLBIL) is a joint venture between Matsushita Electric Industrial Corporation, Japan - makers of the world famous National and Panasonic products and the late D D Lakhanpal. The Company is engaged in business of manufacturing dry cell batteries. The company commenced production of dry cell batteries, employing aluminium chloride technology. The company's collaborators Matsushita Electric Industrial Corporation and Matsushita Electric Battery, together hold the majority stake of 51% in the company. The company's Novino and Sumo range of batteries enjoyed a strong brand image in the large and pencil segments. In early 1989, the company expanded its capacity by setting up an ...other plant at a cost of Rs 16 cr, which went on stream in Aug.'89. It produces UM 3D-Novino Gold penlite batteries, which are virtually 100% leak-proof. In 1993, the company implemented a backward integration project to manufacture battery grade separator paper. To part-finance the cost of an additional production line at Pithampur, Madhya Pradesh, to manufacture hi-tech UM-3D (R-6) type of Novino Gold mercury-free dry cell batteries, the company went public in May '94. The unit at Pithampur commenced production in Feb.'95. In 1995-96, the company commenced production of battery operated gas lighters, as a step towards forward integration. In the same year, it also introduced Panasonic brand alkaline batteries in the market. During 1999-2000, the company has introduced Novino Premium Gold UM-3NE, no mercury added super heavy duty ECO friendly battery. The Technical Assistance Agreement with Matsushita Battery Industial Co. Ltd., Osaka, Japan, has been extended for further five years i.e. 31st March 2004. In 2000-2001, the company has entered into an new Technical Assistance Agreement with MBI, Japan to manufacture through SSI units in India - cost efficient and high performance Flashlights/Torches. The Company has become a pioneer by introducing 'No Cadmium added' dry batteries in India. During the year 2004, the Company switched over its distribution system from 'Through Distributor,' to 'Direct Marketing'. Two rural products viz. UM-1P and UM-3 were upgraded and two new products viz. UM-1PB Super Raja and UM-3UM were introduced during the year. In 2004-05, the Company was renamed to Panasonic Battery India Company Limited from Matsushita Lakhanpal Battery India Ltd. The Company commissioned production of UM-4U (AAA size) Dry Cells at Vadodara factory and UM-1P (D Size) Dry Cells at Pitharhpur factory during the year 2006. Company carried out the launching of 'Panasonic' brand dry cell batteries during the month of March and April 2007. The Company changed its name from Panasonic Battery India Co. Ltd. to Panasonic Energy India Co. Ltd. effective from 10th October, 2008. It launched Alkaline and Lithium range of products during the year 2008-09. In diversifying the Company's product, it launched new LED torch models. During 2010-11, it launched new improvised R20 & R14 mercury free batteries. In 2012-13, it started trading of Rechargeable batteries and chargers of 'Eneloop' brand being manufactured by Sanyo, a group Company of Panasonic Corporation. It launched 'Panasonic Ultimate' AA battery during 2014-15. It enhanced production capabilities with commissioning of new 'R03/ AAA battery' production line in 2015-16. Further, it introduced the highest performance grade of product in R20 paste type 'Panasonic Gold. During 2016-17, the Company started exports and launched Zinc Carbon, AA/AAA/R20 batteries in the neighbouring country, Nepal in 2017-18. During 2020-21, it launched Alkaline AA/AAA 20 times longer lasting EVOLTA batteries in India.