Deals26 Sept 2025, 05:44 pm
Balmer Lawrie to Exit Refinery and Oil Field Services Business by FY 2026-27
AI Summary
Balmer Lawrie & Company Ltd has announced its plan to exit the business of Strategic Business Unit: Refinery and Oil Field Services (SBU:ROFS) after completion of ongoing projects by Financial Year 2026-27. The decision was made at the Board of Directors meeting on 15th May, 2025 and was intimated to the stock exchanges on the same day. The company is not aware of any information that has not been announced to the Stock Exchanges which could explain the movement in the trading.
Key Highlights
- Balmer Lawrie to exit refinery and oil field services business by FY 2026-27
- Decision made at the Board of Directors meeting on 15th May, 2025
- Company has informed the Stock Exchanges about the approval of the resolution
- No negotiation was required for the closure of the business
- No information that could explain the movement in the trading, other than what has been announced to the Stock Exchanges