Balmer Lawrie aims at Rs 2000 cr turnover by 2010
Balmer Lawrie & Co Limited, a diversified PSU in the oil sector, is targeting to achieve a turnover of Rs 2,000 crore turnover by 2010.
By PTI |
KOLKATA: Balmer Lawrie & Co Limited, a diversified PSU in the oil sector, is targeting to achieve a turnover of Rs 2,000 crore turnover by 2010.
Balmer Lawrie chairman and managing director S Mukherjee told shareholders at the annual general meeting of the company here on Thursday that it was targeting a gross profit of Rs 200 crore by that period.
He said that rise in the price of base oils used for manufacturing lubricating greases was squeezing the margins of the company, while volatility in steel prices was affecting the barrel division.
Mukherjee said that cut in commissions by international airlines had also hit the travel and tours division of the company.
The company is in the process of setting up a new steel barrel plant in Haryana. He said that capacity of the container freight station (CFS) unit was also being expanded.
ADVERTISEMENT
During 2005-06, the company's turnover was Rs 1252 crore and net profit Rs 47 crore.Mukherjee said that the company's strategic plan had been validated by a renowned management consultant.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
