PSU Watch logo

| Cabinet to clear sale of Rashtriya Ispat Nigam (RINL) soon |   | GAIL to come out with InvITs for two pipelines ahead of company's split |   | Indian forces to get local choppers even before formal contract |   | MRPL launches state-of-the-art vermicompost facility on campus |   | RBI proposals to restrict land financing by NBFCs: Report |  

Balmer Lawrie signs MoU with Govt for FY2020-21

The MoU targets primarily include revenue from operation, operating profit, PAT to average net worth, R&D, innovation and technology upgradation, capital expenditure etc.

Balmer Lawrie signs MoU with Govt for FY2020-21
Balmer Lawrie signs MoU with Govt for FY2020-21
  • Balmer Lawrie & Co. Ltd. has signed an MoU for FY2020-21 with the MoPNG

  • Revenue target of Balmer Lawrie & Co for the ongoing financial year is Rs 1,775 crore under excellent cat. & Rs 1,450 crore under good cat.

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.

ALSO READ: Balmer Lawrie signs MoU with Kerala Tourism

Balmer Lawrie & Company Limited

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.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)