India is one of the world's leading marketplaces for lead acid batteries in segments like Industrial, Automotive, Reserve Power and Traction batteries and this is likely to grow at 8.1 percent CAGR over the forecast period (2022-2027). Lead-acid battery sales are predicted to boost the country's automotive sector and, in turn, support the battery market's expansion. The Indian automotive battery market is now dominating the global lead-acid battery market as per the Mordor intelligence market analysis.
In addition to storing electricity and providing current to run the starting motor and ignition system, a battery also serves as a voltage stabilizer for electrical accessories. As battery demands have surged in the automotive market, Panacea Alloys a manufacturer of ‘UNION' brand batteries a 35-year-old MSME company established in 1990, has emerged as a reliable manufacturer with clients in India and abroad.
Panacea Alloys are present in almost every market that uses batteries such as the industrial market where batteries are used in forklifts, golf carts, and cleaning equipment. Batteries are also supplied to power plants, with large banks of batteries ranging from 100 amps to 3000 amps in 2 Volt segment. These batteries are known as stationary or reserved power batteries. Automobile batteries make up the third group, while inverters, home applications, or office applications for UPS make up the fourth. So, these are the four major sectors where the firm has a wide presence.
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Panacea Alloy is a value-oriented firm that believes in quality, performance, effectiveness, and dependability. Types of batteries they manufacture are traction batteries, stationary batteries, semi-traction batteries, monobloc batteries, inverter batteries, lithium-ion batteries, electric vehicles, SMF batteries, and more. Each of these batteries is distinctive in its own right, and their power and design may differ depending on the Customer and application requirement.
Being an MSME company, it supplies products to most government organizations like Nuclear Power Corporations, BHEL, BML, railways ordinance factories, the Department of Atomic Energy, state utilities like Rajasthan Power Nigam, Tamil Nadu Transmission company, OEMs in private sector, and many more.
The company operates a manufacturing facility at MIDC (Maharashtra Industrial Development Corporation) in Maharashtra pollution control board's licence control criteria and is certified by TUV-Nord (Germany) under ISO 9001:2000 standards. It also has a respectable production facility that can handle roughly 500 metric tonnes of lead every month. The current management, led by C.G. Patankar, acquired ownership of the company in 2016; since then, the company has grown and is a significant exporter. “The path has been relatively successful for a smallscale firm, starting from virtually zero to 40–50 crore. We keep up with technology and will continue to do so. we are also planning to launch lithium batteries and sealed maintenance-free batteries”, said C.G. Patankar, Founder, Panacea Alloys.
To summarize, with a vision to strive for better products, happier customers, suppliers, and employees, and an environment-friendly planet, firm also undertakes the buy-back of old batteries to ensure proper recycling and destruction. The company plans to increase capacity from 40 to 50 crores to 100 crores by the end of the year. Taking the present demand into account, which is mostly for two wheels, Panacea Alloy has started the lithium assembly unit concurrently. At the moment, the company exports to nations including Italy, Taiwan, Thailand, Russia, the Middle East, and Africa. However, the company is focused on exports with its next goal being to sell about 50 percent of its total production as Exports
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