BPL Sells Dry Cell Batteries Arm to Eveready

India electronics maker BPL Ltd. has sold subsidiary BPL Soft Energy Systems to Eveready India Ltd.

BPL Soft Energy Systems, which manufactures and sells dry cell batteries and flashlights, has facilities in Karnataka and a 10% market share in India’s dry cell market. The deal is expected to yield Rs80 million.

“Although we were the latest entrant in the domestic dry cell business, we have established the BPL brand with a 10% market share in the segment,” said Ajit Nambiar, chairman and managing director.

“We believe that to be amongst the top three players in the domestic industry, it would necessitate our entry into the paper jacket segment, which we didn’t want in the first place. Hence we have decided to exit this business.”