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Balmer Lawrie plans long-term roadmap, engages consultant

Press Trust of India  |  Kolkata 

Diversified PSU conglomerate Balmer Lawrie and Company has engaged a consultant to prepare a long-term roadmap.

"We have engaged PwC group to prepare a long term roadmap for the conglomerate," Balmer Lawrie chairman and managing director Prabal Basu told PTI.


The report should guide the conglomerate for at least ten years and is expected in the next 3-4 months, he said.

After the consultants submit the final report, the company board will take a call on the recommendations to turn the company future ready.

Under the fast changing domestic and international business scenario, the company wants to focus on sectors that hold long term potential for a sustained growth, Basu said.

Airline ticketing is an important business for the company, but is gradually loosing its sheen with competition from online ticketing portals.

As logistics are expected to provide opportunities, Balmer Lawrie is busy putting its house in order.

"We are in an advanced stage of negotiations to rope in a new strategic partner for Transafe Services, which is a 50:50 JV company between Balmer Lawrie & Co and Balmer Lawrie Van Leer. The deal is expected to be concluded by September," the company CMD said.

"Balmer Lawrie Van Leer, which holds 50 per cent stake in the joint venture, will exit from Transafe and will offload the stake in favour of a new strategic partner," he said adding, the new partner is expected to bring in expertise to revive the logistics company's fortunes.

Transafe has an accumulated loss of Rs 64 crore as on March 2017 and the logistics company will require about Rs 120 crore both in capital and fresh loans, the company said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, April 16 2017. 09:42 IST
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