Logistics to be highest revenue-generating vertical of Balmer Lawrie by 2030: CMD

Kolkata, Sep 25 (PTI) Logistics would emerge as the highest revenue-generating business for diversified PSU Balmer Lawrie & Company, a top official said on Thursday.

Speaking at a virtual press conference, chairman and managing director of Balmer Lawrie Adhip Nath Palchaudhuri said that by 2030, the logistics vertical would contribute 45 per cent to 50 per cent of the total revenue of the PSU, which is projected to be Rs 6,000 crore.

This financial year, the PSU expects to touch a revenue of Rs 3,000 crore, the CMD said.

He said the first quarter of the current financial year has been very strong. The ongoing second quarter has been doing well.

In the logistics vertical, the company has entered railway logistics with three rakes fully deployed, and Balmer Lawrie has entered into an agreement with SAIL in this regard.

Balmer Lawrie has also started a third-party logistics business for which a warehousing facility has been commissioned at Dankuni near the metropolis, which will serve as a hub for the eastern zone, he said.

Plans are there to set up similar hubs in other zones as well.

A cold chain facility will also come up at Dankuni, he said. The company is also engaged in the business of container freight stations.

Palchaudhuri said that the travel and vacations vertical has been resilient despite the challenges like the Pahalgam terror attack.

The official said the company would focus on the four core verticals, which are industrial packaging, grease and lubricants, logistics, and travel and vacations.

Palchaudhuri said the company would exit from the refinery and oilfield services business.

He said, "We are hopeful of a fulfilling year ahead." In the ticketing business, the major chunk of the business comes from the government. The company is eyeing private ticketing business which has a big opportunity to grow, the CMD added. PTI dc RG