Press Release Details
The 99th AGM of Balmer Lawrie 22 September 2016
The 99th Annual General Meeting of Balmer Lawrie & Co. Ltd., a Mini Ratna Category – I PSE under the Ministry of Petroleum & Natural Gas with diversified business portfolioswas held at Kolkata on 22nd September, 2016.
During the year 2015-16, Balmer Lawrie recorded a turnover of Rs.2895 crores. The Profit Before Tax marked a significant increase to Rs.235 crores from Rs.210 crores in the preceding year. SBUs: Industrial Packaging, Greases & Lubricants and Refinery & Oil Field Services were the main incremental profit generators for the organization. In Logistics the Container Freight Stations grew in volumes, revenue and earnings and the Company set up its first Temperature Controlled Warehouse at Hyderabad. A Multi Modal Logistics Hub is also being set up in collaboration with the JV partner Visakhapatnam Port trust at Vizag. SBU: Travel & Vacations saw a significant surge in the number of tickets booked during the year.
The Board of Directors has recommended a dividend at the rate of Rs.20 per Equity share which corresponds to 200% for the financial year 2015-16 which was declared during the AGM. The year 2016 is a landmark year for Balmer Lawrie & Co. Ltd as the Company has stepped into its 150th year of Foundation.