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Tata Tea: Domestic woes continue…

Oct 29, 2002

Tata Tea's tryst with difficult market conditions continues. The beverage major reported a marginal 2.5% YoY rise in net sales during September quarter, that too aided by higher exports. Domestic sales was lower on account of the continued slowdown in the organized retail market for branded teas and lower CTC tea prices in auctions (which have fallen by around 20% since January this year).

Tata Tea: Dividend income saves day…

Jul 30, 2002

On first glance, Tata Tea Limited seems to have reported a much better performance in the first quarter of FY03, as compared to the dismal showing in 4QFY02. The company finished 1QFY03 with over 27% net profit growth during the June quarter. But in this, it was aided by Rs 78 m earned as dividend income (part of other income). Excluding this, on a like to like basis, Tata Tea would have finished 1QFY03 with a 24% drop in net profit.

Tata Tea: 4QFY02 hits annual numbers

Jun 27, 2002

Tata Tea's restructuring blues continue. The company has finished FY02 with a 7% drop in topline and a significant 28% decline in net profit. Tata Tea has finished the March quarter (4QFY02) with a similar 7% drop in sales and has posted Rs 163 m as net loss during the quarter.

Tata Tea: Ad budget upsets applecart

Jan 21, 2002

Tata Tea's hiccups with restructuring continues. The company has declared a 2% drop in topline and a 17% drop in bottomline during the December quarter. The company's topline performance is however better than the 16% drop it witnessed during the preceding quarter (2QFY02).

Tata Tea: Strengthening operations

Oct 30, 2001

Tata Tea, one of the largest integrated producers of tea in the world, has declared an 18% decline in 2QFY02 topline and a 3% decline in net profits (excluding extraordinary income). However, if we include an extraordinary income of Rs 190 m received by way of dividends from subsidiaries, then 2QFY02 profits zoom 45% YoY.

Tata Tea: Long term play

Sep 2, 2000

Tata Tea, the largest integrated producer of Tea in the world has a market share of 23%. It cultivates tea on 24,500 hectares of land spread across Kerala, Assam, Tamil Nadu and West Bengal. It owns a majority stake in Consolidated Coffee Limited, the largest coffee company in Asia. It also has a controlling interest in Rallis India Ltd., one of the largest agro chemicals firms in India and Asian Coffee Ltd., a 100% export oriented unit, making instant coffee.

Parry Agro posts 53% decline in net

Jan 29, 2000

Parry Agro has posted a 53% decline in net profits during the quarter ended 31st December 1999. The company has suffered from a sharp rise in interest and depreciation expenditure.

HLL eyes Rossell to consolidate its tea business

Dec 4, 1999

Hindustan Lever Limited (HLL) is on the prowl yet again. This time it is eyeing Rossell Industries, a tea major, to consolidate its leadership status in the packet tea business.

Tata Tea close to bagging Tetley

Nov 5, 1999

The final round of negotiations is underway between Tata Tea and Tetley executives to arrive at a mutually acceptable ‘bidding’ price for Tata’s Tetley acquisition.

Jay Shree: maintaining status quo in 2QFY2000

Nov 1, 1999

Tea major, Jay Shree Tea has registered a marginal 1% growth in its net profit to Rs 141 m for the second quarter ended September 30, 1999. Sales was up by a marginal 4% to Rs 684 m during the same period.

Tata Tea: sprucing portfolio

Oct 26, 1999

Tata Tea plans to introduce a range of value added products to spruce up its portfolio of products. Initially, it is looking to market these products in the overseas market.

Duncans' restructuring: misplaced priorities

Oct 8, 1999

Duncans Industries Limited has shed 50 administrative personnel at its Calcutta headquarters via a generous Voluntary Retirement Scheme (VRS). It also plans to reduce its debt level in a phased manner.

Tata Tea likely to bag Tetley

Sep 30, 1999

According to reports in a leading financial daily, Tata Tea will invest US$ 117 m (Rs 5 bn) as equity contribution to buy out the entire equity held by Schroders and Prudential, the current owners of UK-based tea major Tetley. The leveraged buy out is expected to be completed by October 1999.

Amul likely to enter tea, coffee markets

Sep 29, 1999

According to reports in a leading financial daily, the National Dairy Development Board (NDDB) is planning to enter tea and coffee segments, in keeping with its strategy of becoming a multi-product food conglomerate.

Tata Tea charts out aggressive growth strategy

Sep 22, 1999

Indian tea major, Tata Tea has drawn up an aggressive strategy to double its packaged tea market share from the current 21% to over 50% in 2 to 3 years, as per newspaper reports.

Tata Tea, Tetley saga continues

Sep 15, 1999

Tata Tea, part of the US$ 9 bn Tata Group, is embarking on a due diligence exercise to determine whether the acquisition of Tetley is feasible at the asking price (between US$ 410 m to US$ 450 m). The company had earlier bid US$ 300 m for Tetley buyout.


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