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Balmer Lawrie Investment Ltd.

BSE: 532485 Sector: Financials
NSE: N.A. ISIN Code: INE525F01017
BSE LIVE 15:40 | 21 Aug 412.30 0.95
(0.23%)
OPEN

414.00

HIGH

414.00

LOW

409.90

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 414.00
PREVIOUS CLOSE 411.35
VOLUME 5479
52-Week high 428.80
52-Week low 302.30
P/E 23.44
Mkt Cap.(Rs cr) 915
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 414.00
CLOSE 411.35
VOLUME 5479
52-Week high 428.80
52-Week low 302.30
P/E 23.44
Mkt Cap.(Rs cr) 915
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Balmer Lawrie Investment Ltd. (BALMERLAWINV) - Chairman Speech

Company chairman speech

Dear Esteemed Members

It is my privilege to present before you the 15th Annual Report of theCompany for the financial year 2015-16.Despite global headwinds and a truant monsoonIndia registered robust growth in 2015-16 thus becoming the fastest growing major economyin the world. As per the estimates of the International Monetary Fund (IMF) global growthaveraged 3.1 per cent in 2015 declining from 3.4 per cent registered in 2014 with theBrexit from the Euro Area. While growth in advanced economies has improved modestly since2013 the emerging economies have witnessed a consistently declining trend in growth ratesince 2010. It is against this background that the recent Indian growth story appearsparticularly bright. Growth in the agriculture sector in 2015-16 has continued to be lowerthan the average of last decade mainly on account of it being the second successive yearof lower than-normal monsoon rains. Growth in the services sector moderated slightly butstill remains robust; while the acceleration in manufacturing growth compensated for it.The Make in India initiative is expected to be a big driver for consolidation and growthin manufacturing. The recent passing of the GST legislation would be a game changer in theindirect tax regime with one country one tax and ease of doing business would furtherboost the growth in the economy in general with positive impact in the services sector.

You may be aware that the income of your Company is primarily the dividend receivedfrom its subsidiary Balmer Lawrie & Co. Limited and the interest received by promptlydeploying the surplus fund. It is a pleasure to approach the members with a recommendationfor declaration of a dividend of 125%. It is a persistent endeavour to provide maximumvalue to the shareholders for the investments made by them in the Company.

The Company constantly endeavours to ensure Compliance with Corporate GovernanceGuidelines to the extent of factors within its control. The Company has made contributionto Prime Minister's National Relief Fund towards its CSR expenditure obligations for2014-15 and 2015-16.

I would take this opportunity to offer a humble gratitude to the shareholders forvesting their confidence on the management of the Company.

I would like to acknowledge the continuous support and guidance that we have beenreceiving from the Ministry of Petroleum & Natural Gas and other Ministries of theGovt of India.

I would like to thank our subsidiary company Balmer Lawrie & Co. Ltd. andcongratulate it for completion of its 150 years of commendable corporate journey.

I would also like to express thanks to our valued shareholders bankers financialinstitutions and other stakeholders for their continued support and co-operation.

Finally I must convey my gratitude to my colleagues on the Board for their wisecounsel and valued involvement with whom I would strive my best.

Thank You

SHYAM SUNDAR KHUNTIA