Pursuant to Regulation 30 read with Para B of Part A of Schedule Ill of Listing Regulations, this is to hereby inform that the Board of Directors of the Company at its Meeting held on 15th May, 2025 has, inter-alia, approved the closure of business of Strategic Business Unit: Refinery and Oil Field Services of BL.
BALMLAWRIE · price
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Balmer Lawrie's Board, at its meeting on 15th May 2025, approved the closure of its Refinery and Oil Field Services (SBU: ROFS) business unit. The decision was driven by non-viability due to shrinking market size and rising competition. The unit contributed only 1.70% of total turnover (Rs. 3,967.94 lakhs vs Rs. 2,33,922.70 lakhs for the company) and a negligible 0.02% of income in FY24. Net worth contribution was just 0.17% (Rs. 307.80 lakhs out of Rs. 1,84,790.50 lakhs). The business is expected to fully wind down by 30th September 2027.
This is a minor, non-core exit and unlikely to materially affect overall earnings or shareholder value. Investors may view it positively as the company sheds an underperforming unit, but the long closure timeline (over 2 years) means no immediate financial benefit.