Indo National Ltd (INL), the maker of Nippo batteries, is planning to acquire aerospace firm Axial Aero Pvt Ltd and enter the battery waste management business over the next three to four months as it looks to diversify into two fast-growing sectors.
The Chennai-based company is also deepening its presence in the aerospace and defence segment after its board approved the acquisition of a majority stake in Bengaluru-based Aidin Technologies.
Pavan Kumar BVS, CEO of INL, said the company already has a strategic partnership with Axial Aero.
"Axial's founders are retired Indian Air Force pilots. We have taken a 7.7% stake in Axial Aero further strengthening our foray into the Aerospace and Defence sector and could be looking at a majority in the near future. We are bringing India's first indigenously built flight simulator for civil and defence aviation," he said.
The company is developing advanced simulation systems that go beyond visual replication by integrating continuous 360-degree motion, G-force cues, motion-cueing algorithms and precise control feedback to prepare pilots for complex and high-risk flying environments.
"This is the first-of-its-kind simulator being built in Hyderabad. So far, one simulator has been constructed," he added.
Explaining the rationale behind the company's push into aerospace and defence, Pavan said energy storage solutions will increasingly find applications in the sector.
The 53-year-old company is also ramping up investments in battery manufacturing and battery waste management. India produces nearly two billion dry-cell batteries annually, and the Battery Waste Management Rules, 2022, mandate manufacturers to recycle and reuse a significant portion of batteries.
"Our battery waste management obligations will increase over the next one to two years. While there are players recycling lithium-ion batteries, there are none in the dry-cell battery segment. We are evaluating entry into the recycling business and plan to set up a facility within the next three to four months. We are currently in the due diligence stage," Pavan said.
To establish a recycling ecosystem, INL is considering expanding its existing facility at Tada, about 80 km from Chennai, with an initial investment of ₹5-7 crore. Alternatively, it may set up four smaller facilities across the country at an investment of ₹1-2 crore each.