|₹413.75 / ₹195.6|
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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 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 enjoy a strong brand image in the large and pencil segments. In early 1989, the company expanded its capacity by setting up another 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.