The company is now well set to introduce new business verticals.
A beaming Adhip Nath Palchaudhuri, Chairman & Managing Director and Director [Service Businesses]-Additional Charge, Balmer Lawrie & Co. Ltd, has his job well cut-out and is now charting out a new growth strategy for the company- from introducing new business verticals, foraying into ethanol production, third-party logistics to promoting the start-up ecosystem.
In a free-wheeling interview with The Statesman, Palchaudhuri, outlines his plans and strategies to reach that ambitious goal.
Excerpts:
Q: Currently, the company boasts eight verticals, including industrial packaging, greases and lubricants, and travel and vacations. It had announced plans to introduce additional business verticals in the next three years. Some of these new verticals have already come up. What are in the pipeline?
Ans: Balmer Lawrie is actively looking at expanding and diversifying its existing businesses where it is a dominant player. Though we have multiple Strategic Business Units, we are majorly focused on four key business areas-Logistics, Travel & Vacations, Greases & Lubricants and Industrial Packaging. Balmer Lawrie has several new projects in the pipeline and over the next few years, the company plans to introduce Free Trade Warehousing Zone (FTWZ), plug-and-play temperature-controlled warehouses, third-party logistics services, rail logistics and ethanol production as a part of its growth strategy. This expansion aligns with its goal to significantly boost revenue, aiming to grow from the current Rs 2400 crore to Rs 6,000 crore within the same period.
Of the new projects, Ethanol production could emerge as a new vertical. The others like FTWZ, 3 PL and Rail logistics will further strengthen the Logistics business and will add to the basket of Integrated Logistics solutions provided by Balmer Lawrie.
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