Arcuttipore Tea Co Ltd Company Summary

Arcuttipore Tea Co Ltd Summary

Arcuttipore Tea Company (ATL) was incorporated in 1869. Gillanders Arbuthnot & Company, which was looking after the management of the company as managing agent, resigned in 1956 and the management was taken over by a board of directors comprising the present promoter U S Bijoria and others. The company owned a tea estate at Silchar (Cachar district), Assam. The yield per hectare has increased from 400 kg to 2450 kg due to efforts made by the management.ATL came out with a Rs.6 crores public issue at a premium of Rs.30 in Mar95 to part-finance a Rs.10 crores project to increase the capacity from 7 lac kg pa to 14 lac kg pa and to diversify into tea exports, teak plantation and black pepper. Hemalatha Textiles, Star Textiles & Industries, Hooghly Mills and Mega Market Share resources are the other group companies. During 1996-97, the export order of tea has increased by 5 crores and on the basis of enquiry the company is expecting few more orders. The company is also now actively considering the project for the manufature of Flavour Tea.Company has undertaken job contract for development of 650 acers of land for tea cultivation i.e. Nathsol Tea estate & Srikona Tea estate, this will help to improve the bottomline.