On Tuesday, Indo National Ltd, known for its Nippo brand of consumer electrical products and dry cell batteries, announced the sale of its 51% stake in Kineco Ltd, a composite materials manufacturer, for ₹220 crore.
The company, based in Chennai, plans to invest the proceeds into emerging industries, including aerospace and defense, and expand its footprint in various fast-moving consumer goods sectors.A statement from the company revealed that the board approved the sale of its stake to a group of investors for ₹220 crore. Indo National, a leading player in the dry cell battery industry with a production capacity of 800 million batteries annually, also manufactures consumer electricals and torchlights.
Indo National initially invested in Kineco in 2016. Kineco specializes in composites for defense, railways, and industrial applications and also owns 51% of Kineco Kaman Composites, a joint venture with Kaman Aerospace Group, USA, which produces advanced composites for medical and aerospace uses.
Chief Operating Officer Pavan Kumar BVS stated, “We are channeling the funds into aerospace and defense sectors to bolster national interests. This divestiture aligns with our strategic goals and will enhance value for our consumers and shareholders.”
Indo National Ltd, popularly known by its brand name Nippo, is a well-established Indian company specializing in the manufacturing and distribution of batteries, flashlights, and other consumer electrical products.
Founded in 1972, Indo National Ltd has built a strong reputation for producing reliable and long-lasting dry cell batteries, which have become household staples across India. The company has diversified its portfolio to include LED lighting, rechargeable products, and home appliances, while maintaining its leadership in the battery segment.
With a focus on quality, innovation, and sustainability, Indo National Ltd continues to evolve to meet the changing needs of consumers. Through its extensive distribution network and strong brand presence, Nippo remains a trusted and recognized name in India’s consumer electrical goods market.
