The 109^th Annual General Meeting of Balmer Lawrie & Co. Ltd., a Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, Government of India was held on 21^st September 2026.

Below is an extract of the Chairman’s Speech:

As Balmer Lawrie celebrates a landmark milestone — the 160th year since inception; three major qualities shape the defining features — a 160-years legacy of resilience, a deepening alignment with the nation’s priorities and a decisive embrace of technology as the engine of our next chapter.

Balmer Lawrie continues to operate in an era of unprecedented volatility, where uncertainty has become the new normal — this year was shaped by the escalation of the Gulf Crisis, the rise of global Tariff Protectionism and the resulting disruption to established supply chains. Geopolitics and national security are now overtaking traditional economic efficiency as the primary drivers of global trade. Rather than merely weathering global storms, the Company has pivoted towards aligning its operations towards catering to robust domestic demand — expanding the supply chain touchpoints, including increased focus into domestic logistics operations through Rail Logistics and 3rd Party Logistics. Domestic tourism, meanwhile, remains the backbone of the travel sector, evidenced by a nearly 52.7% surge in visits between January and September 2025; Balmer Lawrie has aligned its tour packages, retail vacations and MICE (Meetings, Incentives, Conferences and Exhibitions) capabilities accordingly. By catering directly to the nation’s internal economic engines, the Company remain well-poised to improve operating efficiency and continue its legacy of resilience across business cycles.

Overall Financial Performance

Despite navigating a highly complex operating environment shaped by global headwinds, Balmer Lawrie delivered a robust financial performance in FY 2025-26. Net Turnover reached Rs.2,78,459.58 Lakhs, a healthy growth of 8.03% over the Rs.2,57,762.84 Lakhs recorded in the previous fiscal year. This topline momentum translated into strong profitability, with Profit Before Tax (PBT) strengthening to Rs.33,086.61 Lakhs, up from Rs.31,378.99 Lakhs in FY 2024-25 — driven largely by the exceptional performance of the Travel & Vacations and Logistics businesses, which capitalised on optimised operational efficiencies.

Reserves and Surplus increased to Rs.1,38,448.31 Lakhs as of 31st March 2026, compared to Rs.1,35,694.55 Lakhs at the close of the prior year.

Performance of Strategic Business Units (SBUs)

Balmer Lawrie is a diversified PSU with a presence in both manufacturing and service sectors.

Industrial Packaging (SBU: IP) – Balmer Lawrie sustained its formidable market leadership through continuous technological upgradation and a pan-India manufacturing footprint of six plants, achieving growth in both production volume and turnover in FY 2025-26.

Greases & Lubricants (SBU: G&L) – Backed by eight decades of expertise, SBU: G&L under its flagship brand, Balmerol, is amongst the leaders offering over 250 product grades and is actively innovating its way into eco-friendly and synthetic lubricants. During the year, the SBU achieved a 10% volume growth, although overall profitability faced pressure due to intense market competition and the scarcity of certain base oil grades.

Chemicals (SBU: Chemicals) – The Zero Liquid Discharge (ZLD) manufacturing facility in Chennai continues to lead the Fat Liquors segment under the “Balmol” brand, driving growth through innovative hybrid sulphitation technologies. Through operational excellence and proactive marketing, the division successfully recorded its all-time highest turnover and profit during FY 2025-26.

Logistics – Balmer Lawrie delivers integrated supply chain solutions through its advanced network of CFS facilities, warehouses and specialised Cold Chain units. The Logistics vertical has extensive experience in handling sensitive cargo across transportation modes with seamless efficiency as per the needs of the clients. The new rail logistics foray strengthens this offering further and is expected to be a key growth driver ahead.

Travel & Vacations (SBU: T&V) – This division emerged as a key growth driver, achieving a 25% increase in registrations on the exclusive Government of India employee travel portal. Reflecting strong execution, the travel segment achieved a 15% year-on-year growth in ticketing volumes, while the Vacations, Retail and MICE divisions recorded their highest-ever gross toplines.