(BLCL), established in 1867, is a 'Miniratna - 1' central PSU under the administrative control of Ministry of Petroleum & Natural Gas, Government of India (GoI).
BLCL earned PBILDT of Rs.156.6 crore (Rs.140.9 crore in FY09) and PAT (after defd.
BLCL continues to enjoy a leading market position in its industrial packaging, industrial lubricants segment of greases and lubricants, synthetic fat liquors segment of leather chemical and tours & travel (TT) SBUs, the agency added.
The rating also incorporates BLCL's proven capacity to sustain its conservative financial profile with high cash balances, its ability to maintain its operating margins at 6.76% during fiscal 2010.
The rating further draws comfort from the ongoing business support from the Government of India (GoI), a majority shareholder, as well as from other public sector undertakings (PSUs) as BLCL provides services to the GoI and PSUs through its logistics infrastructure and services and TT SBUs.