Balmer Lawrie shareholders approve dividend of 170%

The shareholders of Balmer Lawrie & Co have approved a dividend of 170 per cent at the Annual General Meeting held today. This is the highest ever dividend declared by the company. The company achieved significant milestones in business and operations in the financial year 2007-08.

It has recorded its highest ever turnover with net income crossing Rs 1,490 crore as against Rs 1,300 crore in 2006-07, marking an increase of 15 per cent. The profit before taxation has increased from Rs 106 crore to Rs 130 crore, reflecting an increase of 23 per cent over the previous year. Following this rising trend is the net profit which increased from Rs 70.22 crore in the previous year to Rs 86.93 crore in 2007-08, a growth of 24 per cent.

In terms of growth, four businesses - travel & tours, industrial packaging, greases & lubricants, and logistics infrastructure and services have been the main revenue drivers. The company, amidst its drive towards meeting the Mission 2010 targets has continued to pursue its Corporate Social Responsibility by dedicating up to 0.5 per cent of its net profit towards social causes.