In an interview with CNBC-TV18, Deepak Khaitan, Executive Vice Chairman of Eveready Industries said that the company would be looking to raise prices in July.
"We think, the battery demand per se; the industry should grow at about 10% this coming year," he added. The company has seen a slight fall in demand for the double A battery in the rural areas but, is hopeful that due to cricket and IPL people will be using their televisions and air conditioners a lot more. Below is the verbatim transcript of Khaitan's interview with Ekta Batra and Reema Tendulkar of CNBC-TV18. Also watch the accompanying video. Q: You had earlier indicated that the company will be looking to take a price hike this year in April. Is that going to be undertaken or any plans of deferring it? A: We had decided to implement one price hike which took place in December and we decided another in April but we have just deferred that for the time being for couple of months. Most probably, we will be doing that round about July,1 and that is only because the first price hike to stabilise has taken a bit more time than we expected. Q: How exactly is demand looking for you to absorb this price hike, if you potentially take one in July? A: We had a slow last quarter. ItDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
