Balmer Lawrie targets revenue of Rs 6,000 cr by FY 2026: CMD

PTIUpdated: Thursday, April 07, 2022, 04:58 PM IST
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Till December 2021, the division clocked a revenue of Rs 35.7 crore, and losses pared to Rs 8.5 crore. / Representative image |

Diversified PSU Balmer Lawrie & Co is targeting a revenue of Rs 6,000 crore by 2025-26, Chairman and Managing Director Adika Ratna Sekhar said.

The company hopes to touch a sales figure of Rs 2,000 crore in 2020-21 as against Rs 1,592 crore in the previous fiscal, he said.

''We are expecting to be a Rs 6,000-crore company by the year 2025-26,” Sekhar told PTI.

Sekhar said due to onset of the COVID-19 pandemic, the travel and vacation vertical has not been doing well, incurring losses to the tune of Rs 15 crore on a revenue of Rs 27 crore in the 2020-21 financial year.

Till December 2021, the division clocked a revenue of Rs 35.7 crore, and losses pared to Rs 8.5 crore.

He said with the pandemic showing signs of subsiding, it is expected that by 2024, the vertical will see more activity in terms of bookings, domestic and international, as individual travel is gaining traction.

Corporate bookings, however, are yet to pick up. ''Hopefully, the business vertical will break even by this financial year,” Sekhar said.

The top company official said orders are pouring in for the industrial packaging (IP) unit. The company had earlier shut down its Hide Road IP plant in the metropolis as it had accumulated losses of Rs 40 crore, due to lack of business in this part of the region.

Sekhar said detailed project reports were prepared for setting up other units on that piece of land, but the idea turned out to be unviable.

The CMD said the logistics division is the most profitable vertical of the company, but business has been affected because of the direct port delivery policy of the government, and rising costs.

''The vertical posted a revenue of Rs 303 crore and profit of Rs 35 crore till December 2021. The division is likely to add another Rs 50 crore to the bottomline in the January-March quarter of the last fiscal,” he said.

The lubricants vertical clocked a revenue of Rs 300 crore in 2020-21, and till December 2021, the sales stood at Rs 315 crore.

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