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Balmer Lawrie to add more business verticals over three years: CMD

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NewsDrum Desk
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Kolkata, Apr 4 (PTI) Diversified PSU Balmer Lawrie will add more business verticals to its existing ones over the next three years, a company official said on Thursday.

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With an overall revenue of around Rs 2,300 crore at present, its eight business verticals are industrial packaging, greases and lubricants, refinery and oilfield services, chemicals, logistics services, logistics infrastructure, cold chain, travel and vacations.

"We are going to add more business units. These will be free trade warehousing zone (FTWZ), plug-and-play temperature-controlled warehouses, third-party logistics and ethanol production,” CMD Adika Ratna Sekhar said.

Shekhar said the company would spend Rs 500 crore for foraying into the new verticals over a period of two to three years.

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"From the present revenue of Rs 2,300 crore, the target is to achieve Rs 6,000 crore in the coming three years,” he said.

Sekhar also said selected employees have undergone mentoring from the International Coaching Federation (ICF), a global organisation for coaching and mentoring corporate professionals.

He said that the coaching curriculum has been designed to groom the middle and senior management team.

"In a complex business environment, leadership plays an important role and equips managers to take the businesses forward,” he said.

Sekhar added that "30 professionals have been identified by the company for running the organisation of tomorrow." PTI DC RBT

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