The 108^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 23^rd September 2025.

Below is an extract of the Chairman’s Speech:

The present global economic environment is marked by intensifying headwinds, with businesses grappling with policy uncertainty, stretched supply chains, sharp tariff hikes and disruptions in key trade routes such as the Red Sea and Hormuz Strait. These challenges have slowed global trade, triggered protectionist policies and reshaped supply chains. Despite this, the fundamentals of the Indian economy remain robust, with GDP growth for FY 2025-26 projected at 6.3%–6.8%. Exports have expanded into diverse markets, with India emerging as a leader in several new product categories, while the services sector has continued to demonstrate resilience.

Overall Financial Performance

Balmer Lawrie, a diversified Public Sector Enterprise, has embarked on an ambitious growth journey driven by new initiatives across its core businesses — Logistics, Travel & Vacations, Greases & Lubricants, Industrial Packaging and Chemicals. Even as the Company pursues this growth, sustainability remains deeply embedded in its business roadmap, ensuring that progress is both responsible and future-ready. At the heart of this journey lie the core values — excellence, trust, agility, collaboration and responsibility, which continue to guide in serving the needs of all stakeholders

The Company recorded net turnover of Rs.2,57,762.84 lakhs during FY 2024-25 as against Rs.2,40,416.53 lakhs in FY 2023-24 which is an increase of 7.22% over last year. The Company recorded a Profit Before Tax of Rs.31,378.99 lakhs in FY 2024-25 as against Rs.27,865.34 lakhs in FY 2023-24 which is an increase of 12.61% over the last year. The increase is majorly attributable to the remarkable performance of business of SBU: Travel & Vacations and SBU: Logistics Services. The Reserve and Surplus of the Company increased to Rs.1,35,694.55 lakhs as on 31st March 2025 as compared to Rs.1,25,621.43 lakhs as on 31st March 2024.

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 continues to lead the Indian market in 210L and 235L MS Drums with a 40% share, serving diverse customer segments such as fruit pulp, food, agro-chemicals and lubricants. The IP business achieved record volumes during the year, reaffirming its strong market position. The SBU has strengthened its growth outlook through product-led innovations and completion of modernisation of the Chittoor unit. With aspirations to diversify into new product segments, the business is well positioned to capture emerging opportunities in the packaging industry.

Greases & Lubricants (SBU: G&L) – Balmer Lawrie’s flagship brand, Balmerol, backed by eight decades of expertise is amongst the leaders offering over 250 product grades, including environment friendly, biodegradable and food-grade lubricants. While the year was marked by fluctuations in base oil prices and global geopolitical challenges, the business delivered marginal volume growth over the previous year.

Chemicals (SBU: Chemicals) – In FY 2024-25, SBU: Chemicals recorded a 7.8% growth and delivered an all-time record profit, driven by product diversification, marketing initiatives and process

improvements, strengthening its brand image and market position for the future. The SBU was recognised with three consecutive Golds and the Diamond trophy at the National Awards for manufacturing competitiveness and the Silver Award at the India Green Manufacturing Challenge for its manufacturing competitiveness, green initiatives and strategic excellence.

Logistics – The Logistics business is anchored in three distinct SBUs. Logistics Infrastructure (LI) operates Container Freight Stations and Warehousing & Distribution facilities at key locations across India. Logistics Services (LS) caters to freight forwarding and project logistics requirements through a pan-India network. Complementing these, the Cold Chain (CC) business addresses the specialised warehousing and distribution needs of temperature-sensitive commodities.

The Logistics business delivered a robust performance with topline growth of around 24% and significant bottom-line improvement, driven by new customer acquisitions across private and Government / PSU segments. The CFS volumes rose by 20% over the previous year, while LOGICOLD, the Cold Chain brand expanded to Vijayawada through a collaboration with Central Warehousing Corporation. Balmer Lawrie also entered new areas in rail logistics through long haul SFTO movement for SAIL and Port Link Express movements connecting CFS-Kolkata, Haldia Port and Nhava Sheva—an initiative that advances green logistics while enhancing efficiency and cost competitiveness. In addition, a 3PL facility has been set up in Eastern India to serve the growing warehousing and distribution needs of customers. The business remains committed to exploring fresh opportunities and diversifying across high-potential segments.

Travel & Vacations (SBU: T&V) – The Travel & Vacations business had an exceptional year, achieving its all-time highest top line and bottom line. As an authorised travel agent of Government of India, the SBU achieved record ticket bookings during the year and the air ticketing portal for Government employees saw a 50% surge in users. The digital interventions are reshaping customer experience and building agility for the future. Beyond ticketing, the business successfully managed high-profile national events under its MICE offerings. The business is looking forward to further diversify by integrating international ticketing, hotels and cabs in the portals, capturing new private segment market with best in class technology and venture into air charter movements in the upcoming year.