Press Release Details
The 95th Annual General Meeting of Balmer Lawrie & Co. Ltd. was held at Kolkata on 26th September. 26 September 2012
The 95th Annual General Meeting of Balmer Lawrie & Co. Ltd. was held at Kolkata on 26th September.
Below is an extract of the Chairman’s Speech:
Overall Financial Performance
In 2011-12, Balmer Lawrie has achieved its highest ever turnover with net sales crossing Rs. 2450 crores as against Rs 2148 crores in 2010-11. Profit Before Tax increased from Rs 181 crores in 2010-11 to touch Rs 190 crore in 2011-12, marking a growth of more than 5% in PBT. If you consider Profit After Tax there was a commendable 14% increase in PAT.
Against the backdrop of the impressive financial results, a dividend of Rs 28 per share or 280% was recommended.
The First Quarter: 2012-13 – The Company turned in a good performance recording PBT of Rs. 65.70 crores representing an increase in 2% compared to corresponding period in the previous year and a Turnover of Rs. 713 crores, which was a 12% rise compared to the corresponding period in the previous year.
Performance of Strategic Business Units (SBUs)& Future Outlook
Balmer Lawrie is a widely diversified and multifaceted PSU, having its presence, both, in manufacturing and service sectors.
SBU: Industrial Packaging (SBU:IP) – During the fiscal 2011-12, it was able to maintain dominance in terms of market share. Marketing & distribution wings have been strengthened to step up growth in the future. 2011-12 has set a new mark in terms of volume sales. Performance of SBU:IP has improved after commissioning of its new plant at Chittoor, Andhra Pradesh. The future would witness SBU:IP expanding its product range, nurturing its leading edge technology and technical expertise and moving up the value-chain as a ‘most preferred supplier’.
SBU: Greases & Lubricants (SBU: G&L) – It closed the fiscal with a moderate to good performance, recording its highest ever turnover and posting a reasonably good growth over the previous year. Its products are marketed under the Balmerol brand, which is one of the renowned brands in this sector.
In the current financial year, the focal area would be to manufacture and supply eco-friendly/biodegradable lubricants and value added specialty products for the steel and automobile industry.