Balmer Lawrie, a PSU with diversified verticals, is looking at warehousing and cold chains as a major growth driver in the short term, though it plans to get into plastics and IT and set up an integrated logistics park in the next three years.
The company expects buoyancy across all its verticals, including industrial packaging, greases and lubricants, chemicals, logistics infrastructure & services, tourism & vacation and refinery & oil field services, for growth in the long term, taking its turnover to Rs 6,000 crore by 2025 from a targeted Rs 1,770 crore during the current fiscal.
Balmer Lawrie chairman & managing director Ratna Sekhar Adika, speaking after the company’s 104th annual general meeting, told reporters the company will set up an additional warehousing facility in Kolkata during the current fiscal, while another cold chain unit has already been set up at Bhubaneswar to be commissioned shortly.
The PSU, under the ministry of oil and natural gas, has three cold chain units operating at Hyderabad, Rai (Haryana) and Patalaganga (Maharashtra). The company will provide cold chain solutions under the brand LOGICOLD. The Hyderabad unit has been servicing Bharat Biotech and Dr. Reddy’s Lab as their storage and transportation partner for Covaxin and Sputnik-V vaccines respectively.