Dear Esteemed Members,
Season's Greetings,
It is my privilege to present before you the 22nd Annual
Report of the Company for the Financial Year 2022-23. As informed in the notice of
the AGM also, in compliance with circulars of the Ministry of Corporate Affairs
("MCA"), this AGM is being also held through VC/OAVM, like the previous year.
You may be aware that your Company is a special purpose vehicle and the
income of your Company is primarily the dividend received from its Subsidiary Company,
Balmer Lawrie & Co. Ltd. and the interest received by promptly deploying the surplus
fund into fixed deposits. It is a pleasure to approach the Members with a recommendation
for declaration of a dividend of 330% (Rs. 33.00 per equity share). It is a persistent
endeavour to provide maximum value to the shareholders for the investments in the Company.
The Company constantly endeavours to ensure Compliance with Corporate
Governance Guidelines/ norms to the extent of factors within its control. The Company has
made contribution to "Prime Minister's National Relief Fund" towards its
CSR expenditure for Financial Year 2022-23.
I would take this opportunity to offer humble gratitude to the
shareholders for vesting their confidence in the management of the Company. I would like
to acknowledge the continuous support and guidance that we have been receiving from the
Ministry of Petroleum & Natural Gas and other Ministries of the Government of India.
I would also like to thank our Subsidiary Company, Balmer Lawrie &
Co. Ltd. for its support and compliment it for its continued performance and stability.
I would also like to express thanks to our valued shareholders,
bankers, financial institutions and other stakeholders for their continued support and
co-operation. Finally, I must convey my gratitude to my colleagues on the Board for their
wise counsel and valued involvement in helping us to manage the affairs of the Company.
Thank You,
saUraV dUTTa
Chairman, Non-Executive Director (Ex-Officio)
Balmer Lawrie Investments Limited