Balmer Lawrie eyes Rs 6K cr revenue by 2030, to hire consultant for growth | Company News
For the current financial year, the company has signed an MoU with the government, targeting a revenue of Rs 3,400 crore. Image: www.balmerlawrie.com
Diversified PSU Balmer Lawrie & Company is aiming at a revenue of Rs 6,000 crore by 2030 and is in the process of engaging a consultant to prepare a comprehensive growth plan, a top official said on Friday.
The company, which operates across several business verticals, including grease and lubricants, industrial packaging, logistics and travel and vacations (T&V), has a current revenue of Rs 2,400 crore.
“We are targeting a revenue of Rs 6,000 crore by 2030 and looking to appoint a consultant to guide us,” Balmer Lawrie CMD Adhip Nath Palchaudhuri said.
He also said the key focus areas for growth are travel and vacation, grease and lubricants, logistics, and industrial packaging.
Palchaudhuri noted that the T&V vertical has substantial growth potential.
“Around 80 per cent of the business lies outside government departments, predominantly in the private sector. We are actively promoting our services to capture a significant share of the leisure travel market,” he said.
The company also handles travel and ticketing for government offices.
For the current financial year, the company has signed an MoU with the government, targeting a revenue of Rs 3,400 crore.
Additionally, Balmer Lawrie is venturing into ethanol production and is in the process of acquiring 25 acres in Andhra Pradesh. The feedstock for ethanol production will include rice and maize.
The company is also planning to enter the third-party logistics sector, the official added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 30 2024 | 1:41 PM IST
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