Tea Firms

'Any additional revenue stream welcome,' says the company that has estates in several states

'As of now, there has been no confirmation from the authorities and the response from the embassy in Tehran is also taking time'

Signs deal with Dhunseri group for the last four estates it currently owns

Revenues from operations at Rs 425.06 crore were lower by 13.93% from the same period last year

'Tea price trajectory of the last decade reflects a prolonged phase of stagnation in price growth which consequently pushed a large segment of the industry into crisis'

Carbon Resources, which has recently submitted a plan to the lenders of debt-laden McLeod Russel in a bid to acquire a controlling stake in the stressed tea major, is pinning hope on its non-binding offer, a company official said on Sunday. The carbon product manufacturer had picked up a 5.03 per cent stake in McLeod Russel in September and made the Rs 1,245-crore offer for the resolution of debt of the bulk tea producer. "Bankers held a meeting with us on October 1, post our non-binding offer sent to them in September. They have asked for a detailed plan for which we have sought some data. However, bankers are yet to share that. We are waiting for their response and are hopeful about our plan," Carbon Resources finance head Mahendra Sharma told PTI. He also said the company is optimistic after the meeting with the bankers, as lenders asked for a detailed "rehabilitation" proposal for 'ailing' McLeod Russel. His comment came days after the BM Khaitan family, the existing promoters

With two rival bids, the once powerful group that owns the world's largest tea producer is in danger of losing control of its last major asset

CMD Khaitan says banks have been very supportive and have come to a conclusion on what debt restructuring resolution should be

Looks to get aggressive in segment dominated by Hindustan Unilever and Tata Tea

Carbon Resources has offered an upfront payment of Rs 1,245 crore of an estimated outstanding bank debt of Rs 1,650 crore

With a crop of 44 mkg across 31 estates in Assam and two in Dooars, McLeod is a Goliath in the world of tea. It has estates in Africa and Vietnam and its total output worldwide is 73 mkg

On September 16, 2022, Carbon Resources (P) Ltd bought 4.95 million equity shares, representing 4.73 per cent, of total equity of MRIL

A notification banning blends of imported tea in GI-tagged teas has almost pushed Tata Consumer Products, the biggest buyer, out of the market

"Our quick estimate indicates that the crop in June 2022 is lower by at least 20-25 per cent over June last year," said Sujit Patra, secretary, exports & market promotion, ITA.

The company said the funding round was led by Alpha Wave Ventures with participation from all existing investors -- Elevation Capital, Tiger Global and Think Investments

Island nation largest orthodox tea supplier, exporting over 95% of its production, according to ICRA report

2% stamp duty rebate, 10% on circle rate for another six months; no Rural Employment Cess for tea during FY23, small tea gardens spared Agricultural Income Tax

Capital expenditure for the fiscal is estimated to be Rs 33,144 crore, and revenue expenditure is pegged at Rs 2,26,326 crore

Esah is the first tea start-up from Assam to raise VC funding. The brand has earlier raised angel investment from SRD Group and Grant From Assam Startup & NEAT-E-Hub.

Last year, companies reported higher profits even on lower volumes due to a rally in tea prices. But the fall in prices seen from June may impact margins