Diversified PSU Balmer Lawrie & Co has outlined a capital expenditure plan of Rs 700 crore with the goal of achieving revenues of Rs 6,000 crore by 2030, according to Chairman and Managing Director Adhip Nath Palchaudhuri. The company aims to diversify its operations, including entering ethanol production, establishing a free trade warehousing zone (FTWZ) in Mumbai, and upgrading its facilities.
Palchaudhuri revealed that the company has earmarked Rs 330 crore for ethanol production using rice and maize as feedstock, and Rs 220 crore for the FTWZ, which will function similarly to a special economic zone (SEZ). Additionally, Rs 45 crore will be allocated for setting up a third-party logistics hub in Dankuni, West Bengal.
The CMD emphasized the company's potential for achieving the Rs 6,000 crore revenue target, citing its leadership position in industrial packaging and growth opportunities in sectors such as grease, lubricants, travel, and logistics. Currently, the company generates Rs 2,400 crore in revenue across various businesses.
Balmer Lawrie is also in the process of hiring a consultant to create a comprehensive growth plan and is open to exploring inorganic opportunities for expansion if necessary. However, the company is not considering asset monetization, focusing instead on enhancing its efficiency and utilization.
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