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New Delhi: Balmer Lawrie & Co. Ltd., a PSU under the Ministry of Petroleum & Natural Gas (MoPNG), has signed the memorandum of understanding (MoU) for FY2020-21 with the MoPNG on November 20, 2020, at New Delhi. The MoU has been signed by Petroleum Secretary Tarun Kapoor and Balmer Lawrie's Chairman & Managing Director (CMD) Adika Ratna Sekhar in the presence of senior officials of the Ministry and Balmer Lawrie.
This MoU targets primarily include revenue from the operation, operating profit, PAT to average net worth, R&D, innovation and technology up-gradation, capital expenditure, Inventory and trade receivable management and enhancing procurement through GeM (Government e-Marketplace) portal.
Under the excellent category, the company has taken a revenue target from operations (net) of Rs 1,775 crore and for the very good category Rs 1,450 cr for FY 2020-21. For CAPEX, the company has taken a target of Rs 35 cr for FY 2020-21.
Balmer Lawrie & Company Limited is a Miniratna PSU under the Ministry of Petroleum and Natural Gas (MoPNG). Along with its five Joint Ventures and two subsidiaries in India and abroad, today it is a much-respected transnational diversified conglomerate with presence in both the manufacturing and service sectors. It is a market leader in Steel Barrels, Industrial Greases & Specialty Lubricants, Corporate Travel and Logistics Services. It also has a significant presence in most other businesses, it operates, viz, Leather Chemicals, Logistics Infrastructure etc.
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