APEEJAY TEA LIMITED

APEEJAY TEA LIMITED

Previous company name
AFT INDUSTRIES LIMITED
Name change date
10/18/2004
Company Overview
Apeejay Tea Limited is a publicly quoted company which is engaged in the cultivation, manufacture and sale of black tea in India. The company was founded by A R Gordon Shaw in London in 1889 as the oldest tea company in the world. The company was formerly known as Assam frontier Tea, Ltd. and was renamed as Apeejay Tea Limited in October of 2004. The registered business address of the company is located in Assam, India.
The company owned nine tea estates located in the state of Assam, which include Talup Tea Estate, Hilika Tea Estate, Hokunguri Tea Estate, Khobong Tea Estate, Hapjan Tea Estate, Budlabeta Tea Estate, Kharjan Tea Estate, Pengaree Tea Estate, and Budlapara Tea Estate.
Apeejay Tea is a subsidiary company of Apeejay Surrendra Group, the largest producers of tea in India.
Business Summary
The Company is engaged in the business of cultivation, manufacture and sale of tea having 8 estates located in the State of Assam.
Description and history
The Company was established in 1889 as a part of the Apeejay Group of Surendra Paul. The company owns 7,300 hectares of land, mainly in Assam, and produces orthodox and CTC tea. The company has focused on auctioned tea and has not ventured into the branded retail market. The company is focused on total quality management and has been accredited with ISO 9002 certificates in FY99 for its Khobong, Budlabeta, Hokonguri and Pengaree tea estates. Due to unfavourable weather conditions and drought, the crop was 13.017 mn kgs in FY99, a loss of 0.95 mn kgs over FY98.

The net profit declined 34% due to softening of average tea prices from Rs 76.24 a kg to Rs 71.10, increased cost of production due to lower output, hike in energy costs and increase in wage rate. However, the export turnover soared by 500%, and the company has been accorded Export House status by the government. In spite of drought, officials expect to gain from price hikes in the second half of FY2000 due to a shortage of crop in India and Korea. Field production and marketing activities are being improved to increase price realisations. Efforts at bettering product quality, management and operating systems continue.

The Company was takenover by APEEJAY HOUSE PVT LTD and it was delisted from Bombay stock exchange on 14 of December 2007.

Founded by A R Gordon Shaw in London, as the oldest tea company in the world; Formerly known as Assam frontier Tea, Ltd. and was renamed as Apeejay Tea Limited in October of 2004

Business Line
Cultivation, manufacture and sale of black tea in India
Subsidiary

Advisor
PRICE WATERHOUSE
IPO date

US SIC Code
0139
Company Address
Talap
District Tinsukia
City province or state postal code
786156, ASSAM
Phone:
Fax:
Country address: INDIA
Website url: www.apeejaygroup.com