BOARD’S REPORT

To the Members,

The Directors have pleasure in presenting the 106^th Report of your Company for the Financial Year
(FY) ended 31^st 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

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 31^st March, 2023

as compared to Rs.1,14,885.52 Lakh as on
31^st March, 2022.

TRANSFER TO RESERVES

The Reserve and Surplus of your Company
increased to Rs.1,18,524.12 Lakh as on 31^st
March, 2023 as compared to Rs.1,14,885.52
Lakh as on 31^st 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 31^st 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.

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.
1^st 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:

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 24^th 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 2^nd 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 27^th January, 2023 and
commencement of CFS operations on 2^nd 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:

a. People & Team

b. Customer Service Excellence

c. Transformational Performance

d. 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 31^st 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.

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 9^th 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:

i. 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.

ii. 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 26^th
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 8^th 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.

(a) 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.

(b) 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.

(c) 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.

(d) 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 157^th 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 31^st March,
2023 is given below:-

Group Regular SC ST OBC PH Women EWS Minori-
Manpower [*] ties

as on
31.03.2023

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- 166 18 3 40 6 4 0 31

ing D1]

Total 871 113 18 192 17 94 4 78

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:-

a) Number of complaints filed during the
Financial Year - Nil

b) Number of complaints disposed of during the
Financial Year - Nil

c) Number of complaints pending as on end of
the Financial Year - Nil

CORPORATE SOCIAL RESPONSIBILITY
(CSR)

Annual Report on CSR Activities

1. A brief outline of the Company’s CSR
policy

Vision

“We are committed to serve the community by
empowering it to achieve its aspirations and
improving its overall quality of life.”

Mission

To undertake CSR activities in chosen areas
through partnerships, particularly for the
communities around us and weaker sections
of the society by supporting need-based
initiatives.

Objectives

• Improve the health and nutrition status
of communities, particularly vulnerable
groups such as women, children and elderly

by improving health infrastructure and
facilitating service provision.

• Focus on quality of education and encourage
children from marginalized sections and
girls to complete school education and opt
for higher education.

• To focus on livelihoods and skill development
in order to provide opportunities to women
and youth and make them self-reliant.

• Initiate holistic development programs for
differently abled children and orphans with
a view to provide them opportunities to lead
a meaningful life.

• To support the national efforts in rehabilitation
and relief post unfortunate natural disasters.

Guiding Principles

We at Balmer Lawrie are committed to
continuously improve our efforts towards our
social responsibility, focus on marginalized
sections and encourage our employees to
contribute in CSR activities. Towards this
commitment, the Company shall be guided by
the following guiding principles:

• Affirmative action to provide opportunities to
marginalized communities

• Efforts towards gender inclusiveness

• Encourage community participation and
ownership in order to ensure sustainability
of CSR activities.

• Encourage voluntary participation of
employees.

• Enhancing visibility of our CSR so that
others can benefit from our learnings.

• CSR activities would be based on
partnerships.

• Wherever possible, we will align our
activities with the business objectives.

• Capacity building for the weaker sections of
the society.

Corporate Social Responsibility

Corporate Social Responsibility (CSR) is the
ongoing commitment of businesses to integrate
social and environmental concerns into their
operations. India holds the distinction of being
the first country to enforce CSR activities and
mandate the reporting of CSR initiatives under

the Companies Act, 2013. This landmark
legislation marks the beginning of a new era for
CSR in India, bringing about significant changes
that affect Company formation, administration,
and governance. One notable addition is
Section 135, which outlines the Corporate Social
Responsibility obligations for companies listed
in India. This section covers the requirements
for executing, allocating funds, and reporting
on successful project implementation. The main
objective of this mandate is to invest in the socio¬
economic, cultural, and environmental betterment
of communities. Achieving comprehensive
empowerment for disadvantaged communities
necessitates sustainable approaches that align
with shared community goals. CSR acts as a
positive step towards promoting quality health,
education, livelihood, care, and protection
while ensuring environmental sustainability
and ecological balance. Balmer Lawrie, as an
organization, is deeply committed to conducting
its business in a socially responsible manner
and being responsive to the needs of society
as a whole. Over the past few decades, the
Company has consistently undertaken various
CSR initiatives, driving sustainable development
and growth for its stakeholders. Balmer Lawrie
has independently spearheaded numerous
projects across its units and establishments
throughout the country, in addition to supporting

government-initiated programs such as the Clean
India Mission, Swachh Bharat Mission and Skill
Development Institutes. CSR has now become
an integral part of a Company’s functioning, and
firms must demonstrate such responsibility.

Balmer Lawrie’s CSR initiatives are primarily
driven by two flagship programs: the Balmer
Lawrie Initiative for Self-Sustenance [BLISS] and
Samaj Mein Balmer Lawrie [SAMBAL]. While
the former program focuses on providing and
improving long-term economic sustenance for the
underprivileged, the latter aims to enhance living
standards and quality of life for the population in
and around the Company’s operational areas.
To further its commitment to a sustainable
society, Balmer Lawrie has implemented various
innovative CSR programs. The Company has
successfully delivered on its CSR commitments
and continues to make progress for the
betterment of communities. Recognizing the
importance of national flagship programs
launched by the government, Balmer Lawrie
seeks partnerships with organizations that can
identify community needs and effectively execute
the Company’s CSR objectives. By engaging with
impactful specialized organizations and adhering
to guidelines such as the DPE guidelines, the
Companies Act, 2013, and Schedule VII thereto.
Balmer Lawrie takes pride in advancing initiatives
falling under the purview of CSR.

2. Composition of CSR Committee as on 31^st March, 2023

^#Shri Abhijit Ghosh, Director (HR & CA) was entitled to attend one meeting during the FY 2022-23
as he was appointed as the Member of the Committee w.e.f 10^th February, 2023.

Shri Sandip Das had attended one meeting of the Committee held on 5^th August, 2022 during the
FY 2022-23 since he ceased to be the Director of the Company and Committee Member w.e.f. 1^st
January, 2023.

Shri Arun Kumar, Shri Anil Kumar Upadhyay and Shri Bhagawan Das Shivahare, Independent
Directors had ceased to be the Directors of the Company and Committee Members w.e.f. 12^th July,
2022 and had not attended any Committee Meeting during the F Y. 2022-23.

3. The web-link where composition of CSR committee, CSR Policy and CSR projects approved by
the Board are disclosed on the website of the Company:

https://www.balmerlawrie.com/static/committees
https://www.balmerlawrie.com/static/codes & policies
https://www.balmerlawrie.com/static/csr

4. Provide the executive summary along with web-link(s) of Impact Assessment of CSR Projects
carried out in pursuance of sub-rule (3) of rule 8, if applicable - Impact Assessment is not applicable
to the Company in pursuance of sub-rule (3) of rule 8. To understand impact of our community-
based projects a small impact assessment was conducted in the FY 2021-22.

5. (a) Average net profit of the Company as per sub-section (5) of section 135. - Rs.18023.14 Lakh.

(b) Two percent of average net profit of the Company as per sub-section (5) of section 135. -
Rs.360.46 Lakh.

(c) Surplus arising out of the CSR Projects or programmes or activities of the previous Financial
Years. - Nil.

(d) Amount required to be set-off for the Financial Year, if any. - Rs.200.00 Lakh.

(e) Total CSR obligation for the Financial Year [(b) (c)-(d)]. - Rs.160.46 Lakh

6. (a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project). - Rs.

376.70 Lakh

(b) Amount spent in Administrative overheads. - Nil

(c) Amount spent on Impact Assessment, if applicable. - Rs. 1.04 Lakh.*

* Impact Assessment is not applicable to the Company in pursuance of sub-rule (3) of rule 8. To
understand impact of our community-based projects a small impact assessment was conducted
in the FY 2021-22.

(d) Total amount spent for the Financial Year [(a) (b) (c)]. - Rs. 377.74 Lakh.

(e) CSR amount spent or unspent for the Financial Year:

(f) Excess amount for set-off, if any:

7. Details of Unspent Corporate Social Responsibility amount for the preceding three Financial Years:
Not Applicable

8. Whether any capital assets have been created or acquired through Corporate Social Responsibility
amount spent in the Financial Year: No

If Yes, enter the number of Capital assets created/ acquired: Not Applicable

Furnish the details relating to such asset(s) so created or acquired through Corporate Social
Responsibility amount spent in the Financial Year:

9. Specify the reason(s), if the Company has failed to spend two per cent of the average net profit as
per sub-section (5) of section 135. - Not Applicable

Shri Adika Ratna Sekhar Shri Rajeev Kumar

Chairman & Managing Director Independent Director

Chairman of CSR Committee Member of CSR Committee

(DIN 08053637) (DIN 09402066)