<dhhead> BOARD’S REPORT </dhhead>
To the Members,
The Directors have pleasure in presenting the 106th Report of your
Company for the Financial Year (FY) ended 31st March, 2023, together with the Audited
Financial Statements, Auditor’s Reports and the Comments of Comptroller & Auditor
General of India on the Accounts of the Company and other statements/ reports attached
thereto.
FINANCIAL SUMMARY & HIGHLIGHTS (Rs. in Lakh)
Over all Financial Results |
STANDALONE |
CONSOLIDATED |
|
FINANCIAL
RESULTS Year ended 31st March |
FINANCIAL
RESULTS* Year ended 31st March |
|
2023 |
2022 |
2023 |
2022 (Restated) |
Surplus for the year before deduction of
Finance Charges, |
26804 |
22269 |
23905 |
20617 |
Depreciation and Tax |
|
|
|
|
Deduct there from: |
|
|
|
|
i. Finance Charges and Depreciation |
5674 |
5254 |
7474 |
7014 |
ii. Provision for Taxation |
5744 |
4734 |
5744 |
4734 |
Profit after Tax (PAT) |
15386 |
12281 |
10687 |
8869 |
Add: Transfer from Profit & Loss
Account |
83189 |
81168 |
110027 |
104866 |
Total amount available for Appropriation |
98575 |
93449 |
120714 |
113735 |
Appropriations: |
|
|
|
|
Interim Dividends |
0 |
0 |
0 |
0 |
Dividend @ Rs. 6.50 per equity share (for
FY 2021-22) |
11115 |
10260 |
11115 |
10260 |
Previous Year Rs. 6.00 per equity share
(for FY 2020-21) |
|
|
|
|
Transfer to General Reserve |
0 |
0 |
0 |
0 |
Other Adjustments |
0 |
0 |
-10768 |
-6552 |
Minority interest / Foreign Exchange
Conversion Reserve etc. |
0 |
0 |
0 |
0 |
Surplus carried forward to next year |
87460 |
83189 |
120367 |
110027 |
Total of Appropriation |
98575 |
93449 |
120714 |
113735 |
*The Board’s Report is based on standalone financial statements of
the Company and this information is given as an added information to the member.
OVERVIEW OF THE STATE OF THE COMPANY’S AFFAIRS
The Company recorded net turnover of Rs.2,38,309.16 Lakh during the FY
2022-23 as against Rs.21,04,84.97 Lakh in the FY 2021-22 which is an increase of 13.22%
over last year.
The Company recorded a Profit Before Tax of Rs.21,130.23 Lakh in the FY
2022-23 as against Rs.17,014.45 Lakh in the FY 2021-
22. The increase is being attributable to the easing out effect of
COVID-19 pandemic on the performance of SBU Travel and Vacations which was severely
effected in previous two Financial Years due to the same. The Reserve and Surplus of your
Company increased to Rs.1,18,524.12 Lakh as on 31st March, 2023
as compared to Rs.1,14,885.52 Lakh as on 31st March, 2022.
TRANSFER TO RESERVES
The Reserve and Surplus of your Company increased to Rs.1,18,524.12
Lakh as on 31st March, 2023 as compared to Rs.1,14,885.52 Lakh as on 31st March, 2022.
During the year, no amount has been transferred to General Reserve.
SHARE CAPITAL
The paid-up Equity share capital of the Company as on 31st March, 2023
stood at Rs.1,71,00,38,460 consisting of 17,10,03,846 Equity Shares of Rs.10/- each fully
paid up. The Company has not issued any shares with differential voting rights nor has
granted any stock option or sweat equity share.
DIVIDEND
A dividend of Rs. 7.50/- (Rupees Seven and Paise Fifty only) per fully
paid up Equity Share, on the entire paid up equity share capital of the Company has been
recommended by the Board of Directors for the FY 2022-23, for declaration by the Members
at the ensuing 106th Annual General Meeting (AGM) to be held on 27th September, 2023. The
dividend, if declared, will be paid within statutory time limit of 30 days from the date
of such declaration either by way of warrant, demand draft or electronic mode to those
Shareholders who would be holding shares of the Company as on the cut-off date i.e. 20th
September, 2023, (End of Day). In respect of shares held electronically, dividend will be
paid to the beneficial owners, as on the cut-off date i.e. 20th September, 2023, (End of
Day) as per details to be furnished by their respective Depositories, i.e., either Central
Depository Services (India) Ltd. or National Securities Depository Ltd. The dividend to be
paid shall be subject to Tax Deducted at Source and other applicable provisions of the
Income Tax Act, 1961.
The trend of dividend declared by the Company in the past and
recommended for the FY 2022-23 is depicted below:
Note: The dividends for the FY(s) 2019-20 onwards is on the increased
paid up capital upon issue of Bonus shares in the year 2019.
DIVIDEND DISTRIBUTION POLICY
Your Company formulated a Dividend Distribution Policy in the year
2016. The Dividend Policy has been uploaded on the Company’s website at the link:
https://www.balmerlawrie.com/adminls/dl_u/
DIVIDEND_DISTRIBUTION_POLICY.pdf
The dividend recommended by the Board is in line with the above policy.
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF
THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR AND THE DATE OF THE REPORT
There have been no material changes and commitments affecting the
Financial Position of the Company occurred between the end of the Financial Year and the
date of the report.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
The Management Discussion and Analysis Report as per the provisions of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the
Listing Regulations") and guidelines on Corporate Governance for Central Public
Sector Enterprises, 2010 by DPE is attached separately as ‘Annexure- 1’.
CONSOLIDATED FINANCIAL STATEMENTS
The Financial Statements and Results of your Company have been duly
consolidated with its Subsidiary and Associates pursuant to applicable provisions of the
Companies Act, 2013 ("the Act") & allied Rules, the Listing Regulations and
Indian Accounting Standards (Ind-AS).
Further, in line with first proviso to Section 129(3) of the Companies
Act, 2013 read with the allied Rules, Consolidated Financial statements prepared by your
Company include a separate Statement in Form ‘AOC-1’ containing the salient
features of the Financial Statement of your Company’s Subsidiary, Associates and
Joint Ventures which forms part of the Annual Report.
REPORT ON SUBSIDIARY ASSOCIATES AND JOINT VENTURE COMPANIES AND THEIR
CONTRIBUTION TO THE OVERALL PERFOMANCE IN THE COMPANY
During the FY 2018-19, the Company had revised the policy for
determining material subsidiaries in terms of the amended Listing Regulations w.e.f. 1st
April, 2019. The policy may be accessed on the Company’s website at the link:
https://www.balmerlawrie.com/adminls/dl_u/
Policy_on_Determining_Material_Subsidiary-BL. pdf
As per the aforesaid policy, none of the subsidiary appear to be
material subsidiary of your Company.
The contribution to the income of Balmer Lawrie & Co. Ltd. from
Subsidiary, Associates and JV Companies are as under:
Name |
Amount
(Rs. In Lakh) |
Nature |
Balmer Lawrie (UAE) LLC |
3065.11 |
Dividend |
Balmer Lawrie-Van Leer
Ltd. |
516.07 |
Dividend |
AVI-OIL India Private Ltd. |
63.00 |
Dividend |
Balmer Lawrie (UAE) LLC |
661.11 |
TSMS Fees |
PT Balmer Lawrie
Indonesia |
116.17 |
TSMS Fees |
FINANCIAL STATEMENT OF SUBSIDIARY COMPANY
In line with the provisions of Section 136 of the Companies Act, 2013,
your Company has placed audited accounts of its subsidiary on its website
- www.balmerlawrie.com. Members shall be provided the financial
statement of the subsidiary company as per requisition made by them in writing.
A brief write-up about the Subsidiary, Associates and Joint Venture
Companies of your Company, inter-alia, reporting about their respective performance,
financial position and other significant events is presented hereunder:
REPORT ON SUBSIDIARY
Visakhapatnam Port Logistics Park Limited [VPLPL] - Subsidiary
Visakhapatnam Port Logistics Park Ltd. (hereinafter referred to
‘the JVC’) was incorporated on 24th July, 2014, under the Companies Act, 2013,
with equity contribution in the ratio of 60:40 between the two joint venture partners,
namely Balmer Lawrie & Co. Ltd. and Visakhapatnam Port Authority.
The JVC runs and operates a Multimodal Logistics Hub (MMLH) facility in
Visakhapatnam. The MMLH comprises of an open yard storage facility, mechanised warehouse
and a temperature- controlled storage solution facility for mechanised materials handling
and intermodal transfer between container terminals and break-bulk cargo terminals. The
MMLH provides option for handling both bonded as well as non-bonded
cargo coupled with offering of value-added services such as customs
clearance, sorting, grading, aggregation, disaggregation and freight handling. It has a
rail connectivity of 1.30 K.M. where 4 rakes can be handled in a day. The MMLH upon
receipt of CFS license, has commenced its CFS operations from 2nd March, 2023.
The mechanised warehouse facility of the JVC covering around 1,06,650
sq. ft. had witnessed an average capacity utilization of 92% during the FY 2022-23, as
against utilization of 97% during the previous FY 2021-22. In anticipation of receiving
CFS license, the EXIM portion of the warehouse had to be vacated in November 2022, which
resulted in reduction of capacity utilization, which otherwise had witnessed 100%
utilisation till November 2022.
The JVC’s temperature-controlled warehouse facility is equipped
with frozen & chilled chambers with a capacity of handling 3,780 pallets. During the
FY 2022-23, this business had reached its maximum capacity utilization of 100%, as against
utilization of 95% during the previous FY 2021- 22.
The JVC during the year under review experienced challenges in
achieving growth in the area of Open Yard and Rail Siding business, due to imposition of
export duty on steel products which was effective from second quarter of the FY 2022- 23,
ban on export of agricultural commodities and non-availability of rakes for the customers
dealing in Aluminum products. These significant factors had adversely affected the
capacity utilization of its Open Yard business, which had dropped from 40% (FY 2021-22) to
24% in the FY 2022-23. The
number of rakes handled also had reduced from 123 Rakes (FY 2021-22) to
60 rakes in the FY 2022-23.
During the FY 2022-23, the JVC was able to generate a total revenue of
Rs.12.56 Crores as against Rs.14.05 Crores earned during the previous FY 2021-22. However,
due to depreciation and interest on borrowings, the JVC ended up with a loss of Rs.10.54
Crores during the FY 2022-23.
The significant achievement of the JVC during the FY 2022-23, was the
receipt of Container Freight Station (CFS) license on 27th January, 2023 and commencement
of CFS operations on 2nd March,
2023. With this license in place, the facility is now aligned with the
Prime Minister’s Gati Shakti initiative, since the JVC is well equipped to offer an
end-to-end Logistics Services with best-in- class infrastructure.
The JVC had already handled 74 TEUs of Export containers in the month
of March 2023 and generated a revenue of Rs.12 Lakh. The JVC is expected to perform better
in the current FY 2023-24, since commercial agreements have been signed off with some of
the major shipping lines.
REPORT ON JOINT VENTURES
Balmer Lawrie (UAE) LLC (BLUAE)
Balmer Lawrie (UAE) LLC, the Financial Year of operation is calendar
year and hence this report is for the period of January to December 2022.
Recovery from COVID-19 could not take place fully as Global Supply
Chain disruptions continued till Q3 of 2022.
The Region continues to face severe Geopolitical challenges erupting
out of the Russia-Ukraine war and the deteriorating relationship with US-China. All these
were followed by a cut in oil output, resulting in unstable petroleum prices resulting
from the instability of the demand.
Drop in demand resulted in severe competitive pressures in pricing and
competition from across borders.
Given the challenges, the Company fared decently during the FY 2022 due
to the fundamental pillars of the Company where "People" remained at the center
of all our focus.
Added to the above strategic goals of the Company and sustainability
drive kept the Company afloat beating all challenges due to the customer-centric culture
and strong Supply Chain Management Systems of the Company.
Performance Driver’s for the Company remained:
People & Team
Customer Service Excellence
Transformational Performance
Sustainability Drive.
The company continued to keep focus on Export Markets and has expanded
substantially.
All product verticals performed very decently. Operational efficiency
remained at the core and was the best ever.
Cost Leadership Initiatives helped the company in the tightrope walk of
severe competition.
All approved Capex has duly been commissioned by 31st December, 2022.
The company launched several new products in 2022. The focus of the
company continues to remain on Technology upgradation and IT initiatives.
In order to rationalize competition in Metal Packaging, company did the
acquisition of the number 2 player in the market.
The company expects to continue its leadership position in Industrial
Packaging in the Region.
Balmer Lawrie-Van Leer Ltd. [BLVL]
Global Challenges - during the year under review FY 2022-23, Balmer
Lawrie-Van Leer Ltd. (BLVL) has experienced challenging macroeconomic environment, marked
by geopolitical uncertainties, high commodity inflation, supply chain constraints,
volatile trade balance, rising energy prices, competition among other factor. The decline
in global demand for steel exports has impacted the sales of steel drum closures division.
Focus - The company focused engaging in new opportunities, high growth
segments and retaining our key customer base. This has helped the company to steer the
course of profitable growth. The company assessed the prospects in the Food &
Lubricant sector and restructured its Plastic manufacturing facilities to tap the steady
growing demand.
Results - The company has for the third consecutive year achieved to
deliver impressive top-line for the Financial Year 2022-23. The financial performance for
the year recorded the highest ever revenue of Rs. 591 Crores which was Rs. 586 Crore in
the previous year. The PBT for the Financial Year 2022-23 stood at Rs.37.50 Crore as
against Rs.50.42 Crore in the previous year. The Steel Drum closure units of BLVL at
Turbhe and at Bengaluru have reported a decline in turnover. The Plastic Division at
Turbhe,
Dehradun & Chennai was able to increase its turnover in the current
year. The combined overall turnover of both, Steel Drum Division and Plastic Drum division
was higher in comparison to the previous year.
Future - A food compliant facility is being developed at Pune and
Dehradun. The Pune manufacturing facility was completed during the year and production is
expected in next financial year. The additional manufacturing facility at Dehradun plant
is under construction. The Dahej plant has commenced its production in all segmented
products.
AVI-Oil India Private Ltd. [AVI-OIL]
For the FY 2022-23, AVI-OIL has achieved sales volume of 1,429 KL of
lubricants blended, 23 MT of greases reprocessed and 251 MT of esters.
During the FY 2022-23, the Company achieved the net sales of
Rs.9,125.53 Lakh as compared to the previous year net sales of Rs.5,371.09 Lakh.
The Profit before Tax (PBT) for the FY 2022-23 is Rs.2,081.12 Lakh as
compared to previous year PBT of Rs. 912.50 Lakh. The increase is mainly due to increase
in sales and increase in other income.
The Profit before Depreciation, Interest and Tax (PBDIT) for the FY
2022-23 is Rs. 2,458 Lakh as compared to the last year PBDIT of Rs.1,293 Lakh.
Particulars |
(Rs.
in Lakh) |
2022-2023 |
2021-2022 |
Total Revenue |
9240.68 |
5495.50 |
Net Sales |
9125.53 |
5371.09 |
Total Expenses |
7159.56 |
4583.00 |
Profit/ (Loss) Before Tax
(PBT) |
2081.12 |
912.50 |
Taxation |
|
|
- Current tax |
521.41 |
323.06 |
- Deferred tax |
(54.77) |
(53.24) |
Net Profit/ (Loss) |
1614.48 |
642.68 |
PT Balmer Lawrie Indonesia [PTBLI]
PT Balmer Lawrie Indonesia (PTBLI) is a 50:50 joint venture company
between "PT Imani Wicaksana", Indonesia and "Balmer Lawrie & Co.
Ltd.", India. The company was formed in 2010. The business of the Joint Venture is to
manufacture and sale of greases and lubricants in Indonesia & adjoining region.
Indonesia’s Lubricant market is characterized by:
Market Size in 2021 is 879.84 million liters projected to reach 1.10
billion liters in 2026 (CAGR 4.64%)
60% of the volume is contributed to Automotive Growth & one of the
largest 2 Wheeler Market in Asia.
Consumption is likely to see increase riding on the back of increasing
infrastructural activities & growth in vehicle population.
PTBLI has 3 business verticals
Industrial & Direct B2B
Retail Channel Business
Contract manufacturing business
While Industrial & Retail Business focuses on sales & promoting
our own Balmerol Brand of Lubricants in this region, Contract Manufacturing is done on
contract basis to manufacture for other Lube & Grease Marketing companies including
Pertamina, the largest national oil Company of Indonesia.
The last Financial Year, 2022-23 witnessed a robust performance by
PTBLI with
Better Sales Realization has increased our Business Turnover.
64% Growth in Sales of Balmerol Brand.
Better Control on Receivables, no new Bad Debts
Retail Business has made significant increase in sale of Motor Cycle
Oil & Greases in small pouches.
Transafe Services Ltd. [TSL]
Hon’ble National Company Law Tribunal (NCLT) vide its order dated
9th April, 2021 has approved the Resolution Plan of M/s Om Logistics Limited (Resolution
Applicant in the said matter of Corporate Insolvency Resolution Process (CIRP) initiated
upon M/s Transafe Services Ltd. (TSL), wherein, the following had been approved upon
implementation of the Resolution Plan:
The entire existing Equity Share Capital of TSL shall stand cancelled,
extinguished and annulled & be regarded as reduction of Share Capital to the extent of
99.99997% and the remaining 0.00003% shall be required to be transferred to the Resolution
Applicant.
The entire existing Preference Share Capital of TSL shall stand
cancelled, extinguished and annulled to the extent of 100% and be regarded as reduction of
Capital.
Consequent to the above, the Company ceased to have joint control or
have any significant influence over TSL and TSL ceased to be a Related Party under the
extant provisions of Section 2(76) of the Companies Act, 2013 or under IND AS-110 or
clause 2(1)(zb) of Listing Regulations. However, the Company has filed an appeal to
Hon’ble National Company Law Appellate Tribunal (NCLAT) against the orders of
Hon’ble NCLT. The investments of the Company (in both equity and preference shares in
the said joint venture), have been unilaterally reduced by way of capital reduction, by
the demat account service provider. The Company has been following up with the demat
account service provider for re-instatement of the same considering that the matter is
sub- judice (supra).
Recently, Hon’ble NCLAT vide Order dated 26th July, 2023 has
dismissed the appeal.
CESSATION / CHANGE IN JOINT VENTURES
/SUBSIDIARIES /ASSOCIATE COMPANIES DURING THE YEAR
During the FY 2022-23, there was no instances of cessation / change in
Joint Venture/ Subsidiaries
/ Associate Companies.
Effective 8th August, 2022, BLUAE – a foreign joint-venture of the
Company had acquired 100% of the issued share capital of Elegant Industries LLC which is a
limited liability Company registered at UAE and its financials are merged with BLUAE.
MEMORANDUM OF UNDERSTANDING (MOU)
Every year your Company signs an MOU with the Government of India,
Ministry of Petroleum and Natural Gas, based on guidelines issued by the Department of
Public Enterprises (DPE). The MOU targets include revenue from operations, operating
profit to Revenue, PAT/Net Worth, capital expenditure, receivable management, capacity
utilization and research and development initiative etc. Periodic review on achievement of
MOU was carried out throughout the year. MOU evaluation for the Financial Year 2021-22 has
been received. The grading of the Company for the FY 2021-22 was "Good".
HUMAN RESOURCE MANAGEMENT (HRM)
The organization believes that its success depends on the alignment
& performance of its people. In order to create value for the Organization and based
on the long term plan and current realities, the following domains have been the focus
areas of Human Resource Management in the FY 2022-23:-
To ensure the organization has the right people, in the right job, at
the right time.
Enhancing employee productivity to reach the best in class levels and
support the vision of the Company of becoming a leading diversified corporate entity
having market leadership with global presence in the chosen business segments.
Consistently deliver value to all stakeholders and focus on enhancing
employee engagement and employee experience.
Continue to build employee capability, upgrading leadership and manage
talent & employee performance across all levels of the workforce.
Talent Acquisition
In today’s intensely dynamic markets, the Company has successfully
inducted 31 (Thirty One) Executives and 6 (Six) Officers (Non- Unionized Supervisors)
during the year to reinforce the Company’s performance and bolster the Company’s
capabilities in all business areas.
Learning and Development
The Company aligns its learning & development practices and
solutions in line with the organizational growth and productivity. Our aim has been to
continuously invest in enhancing the professional skills and competencies of our
employees. With the objective of enhancing the functional and leadership competencies,
extensive training programs for employees in line with the business requirement of the
Company, both in the areas of general management and specialist skill development were
planned and executed.
Balmer Lawrie Mentorship Scheme (BLMS) has been implemented for
providing effective development opportunity which the organization can offer to its new
employees. The scheme
has laid down criterias to objectively cover all new joinees in
Executive cadre who join the Company in Grades E1 to E5. The Company has also focused and
invested in its resources on preparing a panel of mentors in each SBU/ Function in
Company. Executives in Grades E3 and above, upto grades E7 comprised of such panels.
The Management invested itself in designing a distinctive 9-month long
leadership development program, where the participants are given opportunity to hone
leadership skills through action learning. The arena of action learning are projects which
were futuristic, challenging, and critical to growth and competitive advantage of the
Company.
With the objective to create and nurture a learning culture within the
organisation and positively impact performance, the Company has developed SCORM-based and
movie-based video digital learning content for its Personnel. Online modules have been
created for induction of lateral hires and for creating awareness of Purchase/ procurement
procedures of the Company.
Worker’s and Supervisors Training: The unionized staff members
have been consistently provided with regular Safety training sessions to ensure their
well-being and create a secure work environment. This is in addition to the Tool Box
talks, Safety training etc. being conducted for the regular and contractual workers for
inculcating and building a Safe working environment in the organisation. Recognizing the
importance of their overall health and happiness, additional training programs have been
conducted to equip them with the necessary tools to address behavioural, social and mental
health issues. These specialized trainings aim to empower the staff with the knowledge and
skills to tackle various issues that may arise, fostering a supportive and inclusive
workplace environment that values their holistic well-being.
The training sessions for Supervisors cover a wide range of topics to
enhance their capabilities and effectiveness. Firstly, safety training is provided to
ensure supervisors are well versed in maintaining a secure work environment and promoting
employee well-being. Communication
skills are also emphasized, enabling supervisors to effectively convey
information, provide feedback and foster strong relationships within their team.
To provide a safe working environment for women, employees / others are
being regularly sensitised about the provisions of the ‘The Sexual Harassment of
Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013’.
In addition, supervisors receive training on GeM and Purchase Manual,
ensuring they are up-to- date with the latest procurement procedures and can navigate the
system efficiently. To uphold quality standards, supervisors are acquainted with ISO
guidelines and practices. Keeping pace with new age methodologies, supervisors are exposed
to topics like design thinking, which encourages innovative problem-solving approaches.
Lastly, other functional and behavioural trainings are conducted for Supervisors to help
them develop a well-rounded skill set and hence ensuring the organization’s overall
success.
In all 1600+ Training days were achieved which included both in-house
and external programmes for all categories of employees during the year.
Managing Performance
Based on the Competency Framework developed for all Executive grades,
the Company has implemented a Competency Linked Performance Appraisal System for all
Executives. With a view to ensure timely completion of Performance Management Appraisals,
the process has been e-enabled for Executives upto grade E-8. Our Company has maintained
100% online submission of ACR/APAR in respect of all Non- unionised positions along with
compliance of prescribed timelines w.r.t writing of ACR/APAR during the FY 2022-23.
Employee Engagement and Welfare
An effective work culture has been established in the organization
which encourages participation and involvement of employees in activities beyond work.
Towards furthering this, during the year the 157th Foundation Day was celebrated in all
units and establishments across the country. The employees participated in large numbers
and made the event a memorable occasion.
Welfare & representation of SCs, STs, OBCs, PwBDs, EWS
During the year, in the Executive & Officers [NUS] cadre, 3 (Three)
employees in the SC category, 14 (Fourteen) employees in the OBC category, 1 (One)
employee in the ST category and 2 (Two) women employees were recruited.
The actual number of employees belonging to special categories,
Group-wise, as on 31st March, 2023 is given below:-
Group |
Regular
Manpower
as on 31.03.2023 |
SC |
ST |
OBC
[*] |
PH |
Women |
EWS |
Minori-
ties |
A |
483 |
57 |
8 |
88 |
5 |
61 |
2 |
33 |
B |
185 |
36 |
7 |
51 |
5 |
21 |
2 |
12 |
C |
37 |
2 |
0 |
13 |
1 |
8 |
0 |
2 |
D
[includ- ing D1] |
166 |
18 |
3 |
40 |
6 |
4 |
0 |
31 |
Total |
871 |
113 |
18 |
192 |
17 |
94 |
4 |
78 |
[*] On and from 08th September, 1993 onwards
Implementation of the Persons with Disabilities [Equal Opportunities,
Protection of Right and Full Participation] Act, 1995 and The Rights of Persons with
Disabilities Act, 2016
In compliance with the above Acts, the Company has implemented
reservation rosters including 4% reservation for persons with benchmark disabilities. The
Company also has implemented ‘Equal Opportunity Policy’ in accordance with the
provisions of The Rights of Persons with Disabilities Act, 2016 and Rights of Persons with
Disabilities Rules, 2017.
Employee Relations
Management believes in a process of open & transparent consultation
with the collectives. Employees are represented in various Trusts formed by the Company to
administer various employee benefit schemes. Plant level committees are in place to
discuss and settle productivity and work place related matters. Consultative Forums have
been established to resolve disputes / differences.
The employee relations continued to be generally cordial at all Units /
Locations of the Company during the year.
Implementation of Official Language
To ensure implementation of Official Language
policy of the Government of India, the Company has taken several steps
to promote usage of Hindi in official work. Various activities like 27 workshops were
organized during the year in which 378 employees were trained on usage of Hindi in
Official work. Hindi Pakhwada was celebrated at all locations of the Company during the
month of September 2022.
We have also trained 35 employees in Hindi Prabodh, Praveen and Pragya
courses. Issue of Balmer Lawrie Organizational Gazette (BLOG) for October 2022 was
released completely in Hindi. Similarly, Balmer Lawrie online monthly (BLOOM) Bulletin
also released bilingually. Implementation of the Official Language Policy is top driven in
our Company and used Hindi in all our activities of CSR, Company’s Foundation Day,
Town hall meetings, World Environment Day, Safety Week, Vigilance Awareness Week,
International Women’s Day, Quami Ekta Week. As a helping literature to use Hindi in
Official work, file covers are now being printed with bilingual designations / Daily
routine notings.
Empowerment of Women
In an endeavour to promote diversity and inclusion, adequate
representation of women personnel across business verticals and regions has always been
ensured. Efforts have been made at all times to create an atmosphere conducive and safe
for women employees to join and build a career in this organization. The present strength
of women employees is 10.79%.
We have representation of women in our manufacturing businesses like
Chemicals, Industrial Packaging, Greases and Lubricants, despite the fact that a large
chunk of our workforce constitutes of shop floor workers. We have had generations of women
leaders as full time/ independent/ Government Nominee Directors, leading Businesses like
Travel and Functions like Secretarial division. At present, we have women holding key
positions in businesses and functions who are continually nurturing and developing the
organization and making Balmer Lawrie an organization of excellence.
Like each year, this year too the Company organized various
developmental initiatives during International Women’s Day Celebration for Women
Personnel across Regions. A debut
edition of the special publication ‘Shakti’ on the occasion
of International Women’s Day, was conceptualised and released as an endeavour to
celebrate the women workforce of Balmer Lawrie & Co. Ltd.
Welfare of the Weaker Sections
The Company policy does not permit employment of any person below the
age of 18, directly or through contractor, in any of its businesses. To ensure this, the
age of all candidates for employment is verified at the time of recruitment and
recruitment rules ban employment of persons below 18 years. It also does not buy goods/
products from agencies that use child labour.
The Company does not practice any form of discrimination or bias in
matters related to hiring of employees, their career planning, training and development,
promotion, transfers, or on remuneration and perquisites. All sections of employees,
including women, are given equal opportunities and the Human Resource Policy is to advance
the cause of meritocracy and foster development of employees, including learning and
growth.
The Company does not practice any discrimination, in matters relating
to recruitment, compensation, promotion, training on the basis of religion, caste, region,
political affiliation or sex, excepting positive discrimination in hiring of employees to
give effect to constitutional guarantees for socially backward / underprivileged groups
like SC / ST / OBC / Minorities / EWS/ Persons with benchmark disabilities.
In all recruitments where there are candidates from SC / ST / OBC
communities, the Selection Committee has a member from the reserved community to ensure
that the interest of these communities is safeguarded.
Community Development & Social Welfare
Balmer Lawrie & Co. Ltd. has a corporate social responsibility
(CSR) mandate. Like many other corporations, the Company is engaged in various CSR
activities aimed at contributing to the well- being of the community and promoting social
welfare. These initiatives include, but are not limited to:
Education: Supporting educational programs, and infrastructure
development for schools to
enhance access to quality education.
Healthcare: Investing in healthcare facilities, medical camps, and
initiatives to improve healthcare services in underserved areas.
Skill Development: Providing skill training and employment
opportunities for underprivileged youth to enhance their employability through Skill
Development Institutes set up by Oil PSU’s.
Environmental Sustainability: Undertaking eco- friendly initiatives,
tree planting drives, and waste management projects to promote environmental conservation.
Swachh Bharat Abhiyan: Swachh Bharat Abhiyan (Clean India Mission) is a
flagship initiative launched by the Government of India in 2014 to promote cleanliness,
sanitation, and hygiene across the country. Our Company has taken forward the campaign and
every year activities are being undertaken in our peripheral areas.
Azadi Ka Amrit Mahotsav (AKAM): Company Undertakes initiatives that
benefit local communities, such as awareness campaigns, cleanliness drives, and skill
development programs under the Aegis of AKAM.
Sustainable Initiatives: Supporting eco-friendly and sustainable
projects to contribute positively to the environment and society.
Women Empowerment: Promoting gender equality and empowerment of women
through vocational training and livelihood programs.
Disaster Relief: Extending support during natural disasters and
calamities to aid affected communities.
Sports Promotion
Our Company encourages participation in various intra-regional sports
activities like cricket, football etc. by its employees. Our Company is also a member of
the Petroleum Sports Promotion Board.
Web link for accessing various policies of the Company:
As a part of effective Corporate Governance, various codes such as
‘The Code of Conduct for Board Members and Designated Personnel of Balmer Lawrie
& Co. Ltd.’, ‘Conduct Discipline &
Review Rules for Executives and Non-Unionised Supervisors (NUS)’
and policies such as ‘HSE Progressive Disciplinary Policy’, ‘Related Party
Transactions Policy’ etc. are uploaded on the Company’s website. The same can be
accessed at the link - https://www.balmerlawrie.com/static/ codes_&_policies
Disclosures regarding the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013
Internal Committee (IC)
The Company has reconstituted Internal Committees in all four regions
namely Eastern, Western, Northern and Southern Region (Separate ICs have been constituted
in Bangalore, Hyderabad and Chennai) of the country under the Sexual Harassment of Women
at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The following is furnished
in terms of the Act:-
Number of complaints filed during the Financial Year – Nil
Number of complaints disposed of during the Financial Year – Nil
Number of complaints pending as on end of the Financial Year – Nil
