Balmer Lawrie & Co. Ltd., a Mini Ratna – I PSE, has announced excellent results for the year ended March 31, 2008. The results were approved at the Board meeting of the Company held on June 16, 2008.

The gross turnover of the Company has increased to Rs.1,576 crore from Rs.1,377 crore, showing a 14% growth. The profit before tax has risen to Rs.130 crore as compared to Rs.106 crore last year, an increase of 23%. Following similar trend, the net profit stood at Rs.87 crore against Rs.70 crore last year, an increase of 24%. In view of the excellent performance, the Board of Directors has recommended a dividend of 170 % for 2007-08. The EPS of the Company is an impressive Rs.53.37 per share.Commenting on the various business segments and the growth strategy of the company, Mr S K Mukherjee, Managing Director, said that the Company is largely focusing on the Logistics Infrastructure & Services business to drive growth in the company. Whereas in the Logistics Services, it is concentrating in expanding the market width and reach; in Logistics Infrastructure it is exploring opportunities for setting up container freight stations in the South & West coast besides inland container depots in the North, preferably in & around NCR and establishing state-of-art Warehousing at Kolkata. The work on 100% capacity expansion of the container freight station at Chennai at an investment of Rs. 15 cr. (excluding the cost of land) is in progress. Further, the company has received the necessary go ahead for setting up a Container Freight Station at Tuticorin.

The Travel & Tourism SBU has maintained its profit despite tremendous pressure on margins. This has been achieved through higher business volumes. The company now plans to expand its brand network in the sector by opening new offices in Pune and a couple of other centers. It is also eyeing inorganic growth through acquisition of existing players with established market presence in the tourism business.

The manufacturing businesses of the company in the overall have performed steadily with the Greases and Lubricants business performing exceedingly well with its profits having grown fourfold. In this business, the company’s strategy of marketing its products directly under the ‘Balmerol’ brand has yielded excellent results, with the retail business growing at around 30%. The company has also ventured into marketing its lubricants in select South East Asian markets.

The company has substantial investible surpluses and is, therefore, actively looking at expanding its businesses both through internal growth & through external acquisitions.

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