Balmer Lawrie & Co Limited, a PSU under the Petroleum and Natural Gas Ministry, is looking at a revenue of Rs 3,000 crore in the next two to three years out of which Rs 1,500 crore is expected to accrue from the logistics business vertical, a company official said.
Speaking to reporters after the company’s AGM here on Tuesday CMD of Balmer Lawrie Adika Ratna Sekhar said that the company is planning to increase its warehousing space in Kolkata. He also said the company is intending to set up three to more warehouses in Kolkata, Ahmedabad and Chennai.
He said Balmer Lawrie is in talks with the Industry department of West Bengal government for setting up another warehouse near Kolkata, precisely in close proximity of Dankuni.
Sekhar said, “we are aiming at a revenue of Rs 3,000 crore in the next two to three years, out of which Rs 1,500 crore will come from the logistics business”. He also said the company is trying to tap the Tier II cities to form temperature controlled cold chain for which it also intends to hire a consultant to identify the places.
“The company intends to become an integrated logistics service provider”, he added.
During 2021-22, the company’s revenue was around Rs 2,100 crore, out of which Rs 824 crore was from the industrial packaging business, Rs 431 crore from grease and lubricants, Rs 630 crore from logistics, the balance from travels, vacation, chemicals and rest of oilfield services (RoFS).
The CMD said there are also plans to increase the retail presence in grease and lubricants vertical. According to him, the company has its presence both in manufacturing and services.