New Delhi, 3rd February 2025: Panasonic Energy India Co. Ltd. (PECIN) a part of Panasonic Holdings Corporation today announced its financial results for the quarter ending December 31st, 2024. PECIN demonstrated a quarter-on-quarter growth in revenue by 6.9% for current financial year. However, the company reported a dip in revenues by 6.7% when compared to YTD FY24 (9 months). The company’s profitability improved by 7% YTD FY25 (PAT) despite drop in revenue and they closed the balance sheet with a market cap of INR 3416 million.
While announcing the results, Mr. Akinori Isomura, Chairman and Managing Director Panasonic Energy India Co. Ltd. (PECIN) said, “At PECIN, we are committed to our stakeholders and our focus is to close the FY2024-25 on a profitable note. Despite increase in raw materials, we continue to stay invested and, are focusing on cost optimisation, strategic initiatives to penetrate the market further. For instance, we are strengthening our rural presence and also investing in Quick Commerce channels to expand our reach to serve our customers across length and breadth of the country. This will be a long-term strategic initiative that entails investments and will have a momentary impact on our profitability. Similarly, to improve our product mix and productivity we are leveraging technology and have invested in sales force automation. This will aid data management, enhancing our efficiencies thereby, boosting sales productivity. We are confident to further solidify our performance and market competitiveness through these prudent initiatives.”
The PECIN factory in Pithampur (Madhya Pradesh) is a Carbon Neutral Factory and has received a Certificate of Verification Carbon Unit (VCU) Retirement from Verra. Additionally, it has been certified by the International REC Standard. We have recently installed additional solar panels at our PECIN factory generating (150KV) to ensure 30% solar coverage (maximum permissible limit as per state guidelines) aimed at Co2 reduction. The wastewater treatment at the factory results in zero discharge of wastewater and furthermore, 50% of factory land has a forest cultivated by PECIN. At present, company uses approximately 6% recycled materials in their products which is in-line to the direction of 3R (Reduce, Reuse Recycle). The company is committed to invest more on plantation of trees for the 2nd year under its Corporate Social Responsibility initiatives in line with Schedule VII of the Companies Act, 2013.
On manufacturing front, PECIN aims for better quality of human life and preservation of the planet. Majority of the products manufactured by the Company are eco-friendly in nature with no addition of (Mercury) Hg, (Cadmium) Cd, (Lead) Pb. Company’s manufactured products are compliant with the limits set by RoHS Directives (EU) 2015/863. Currently, the product portfolio is around 87% zinc carbon batteries and 5% alkaline batteries, 5% rechargeable batteries, and 3% Lithium coin batteries.