High Energy Batteries Ltd, part of the Seshasayee Paper Boards group, is a smallish, but highly profitable company that makes batteries. Its principal customer is India’s Defense, for whom it makes an assortment of batteries, including for missiles. In 2021-22, the company achieved a turnover of Rs 800 million and made a net profit of Rs 180 million. Few companies boast of a net profit to sales ratio of 22.5 per cent.
And now, the company wants to plunge into hydrogen.
High Energy Batteries intends to: a) carry on the business in Hydrogen related areas, including its generation handling, transportation and storage; b)carry on the business of Hydrogen as fuel source, produced and used in various applications towards Hydrogen economy; and c)pursue all Hydrogen related activities, pertaining to all types of batteries, fuel cells, flow batteries, metal ion- based, metal-air based and the related electro chemical cells, batteries and systems.
Not much details are known, but getting into hydrogen business is one of the issues for which the company took shareholders’ permission, at its annual shareholders’ meeting held on June 29, 2022.
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