1

CONTENTS
CONTENTS
Page No.
1. INTRODUCTION 9-32
2. TOPIC OF THE PROJECT 33
3. OBJECTIVES OF THE PROJECT 35
4. METHODOLOGY 37
5. ANALYSIS & FINDINGS 39-67
6. CONCLUSIONS 69
7. LIMITATIONS 71
8. BIBLIOGRAPHY 73
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9. ANNEXURE 75-81
INTRODUCTION
3
INDIAN TEA
The Indian tea is an epitome of taste, warmth and happiness. Tea brings cheers and this fact is
well known to tea lovers all overt the world being the largest producer of tea in the world India
also consumes large amount of tea. "Chai" as tea beverage is known in India has become an
essential part of daily life.
India produces finest tea leaf in the World and the Darjeeling, Assam and Nilgiri tea are
becoming very popular all over.
The range of teas in India consists of premium much in demand Darjeeling tea leaf from
Darjeeling tea estates in West Bengal, the strong Assam tea leaf and brisk Nilgiri tea from
Southern India. Each of the tea producing regions in India have their unique and distinct taste of
which the tea drinkers know best. The varieties in India are the white tea leaf, black tea, green tea,
and organic tea. Though consumption of the black tea leaf is wide spread, the green tea is also
becoming popular for its taste and healthy properties.
 DARJEELING TEA ESTATE
Darjeeling is situated in the Himalayan ranges in North Eastern India at height of 3000-5000 ft.
Among the most expensive in the world Darjeeling tea leaf has a high flavor and quality. No
wonder it is often referred to as the Champagne of Teas. Darjeeling also produces the finest of
green tea with many estates producing organic version of green tea leaf for the health conscious
as well. It is also the most preferred tea leaf in English tea rooms.
 ASSAM TEA
Assamese tea estates constitute the world's largest tea growing area. Assam tea leaf produces top
quality dark liquor with full bodied flavor and strength and is a favorite with the Indian tea
drinkers who prefer a good strong cup of tea in their daily lives.
 NILGIRI TEA
4
Nilgiri hills are also known as the Blue Mountains range in Southern India. The tea gardens are
at a height of 1,000 to 3,000 ft. Nilgiri teas are mild and with characteristic bright & brisk liquor
and light clean flavors.
POPULAR TEA LEAFS

A single plant can give rise to mind boggling varieties of tea types. The main one are green,
black, white and pu-erh teas, these result due to the method of processing and growing used. The
region where tea is grown also plays and important part. The flavors of tea leaf can be vastly
different depending upon where the tea leaf comes from. Darjeeling tea and Assam black tea are the
most popular all over the World.
Other popular forms of tea leaf are pu-erh tea and oolong tea leaf while flavored tea and spiced
tea blends are also gaining popularity all over. The organic tea is simply any kind of tea which is
cultivated using organic manure without the use of pesticides and fertilizers. Organic green tea
and organic black tea are consumed for their health benefits, but like all organic foods they
are costly.
 WHITE TEA LEAF
White tea does not undergo fermentation is less popular of the tea types. It is popular in Fujian
province of China. The tea leaf gives colorless liquor, a delicate sweet flavor and a mellow
creamy or nutty quality. White tea leaves are the whitish grey buds of the tea plant which are
sun dried or steamed .
 GREEN TEA LEAF
The fermentation of green tea leaves begins with withering, the next step is pan-frying or
steaming to prevent fermentation. Once the steaming process is complete, the green tea leaves
are cut dried and cured. In various countries different shapes are given to the green tea leaf
depending upon the popularity Green tea is light green/yellow in color, with a subtle flavor that
5
remind one of the aroma fresh green leaves. The health giving properties of green tea leaf are
well known.
 OOLONG TEA LEAF
Oolong tea leaves are among the top quality and expensive teas they are cultivated in China and
Taiwan. The tea leaves are semi fermented going through a short stint of oxidation. The leaves
are reddish brown in color and the liquor is pale yellow and the aroma is a fresh floral and fruity
with a reminiscent of smoke.
 BLACK TEA LEAF
Black tea is the most extensively consumed form of tea all over the Globe. Black tea is fermented
fully unlike the green tea leaf which is partially fermented. It has bitter sweet and astringent
flavor and the tea leaf give dark brown liquor.
 PU-ERH TEA LEAF
Pu-erh tea is same as black tea, but this form of tea is fermented twice than regular black tea
leaves and fermentation then followed by period of maturation till a thin layer of mold forms on
the surface. The mold imparts a characteristic soil-like flavor and a strong earthy quality. Puer tea
(also called pu-er or pu-erh) is an ancient and rare tea, much loved in China and the only tea for
some 'hardened' tea drinkers. The processes that go into making the classic puers are closely
6
guarded secrets. It is fermented, sometimes twice, and is often pressed into cakes or bricks. This
makes puer especially easy to store and keep for long periods. Generally they are robust, earthy
teas with a dark red or brown color and distinctive, mysterious aroma. Puer is widely known in
China to have major health benefits, especially in reducing cholesterol and as an aid to digestion,
which makes it the ideal after dinner tea.
 SCENTED TEA
Scented or Flower tea is either green or white tea that has been infused with certain flowers,
which impart a delicate and interesting taste, and of course a wonderful aroma. As with black tea
and milk or sugar, flowers were added to green tea originally to disguise a less than favorable
taste in the poorer varieties. This is still the case with many commercially produced flower teas,
which hide the taste of very cheap tea behind a strong flowery presence. Flower teas, in
particular the delicious jasmine, have gained such a following both in Asia and the Western
world, that many people only drink this variety. The Seven Cups jasmine teas combine really fine
quality green and white teas with a subtle but distinct jasmine flavor, and are a real treat,
especially for dedicated jasmine fans. They are the best jasmine teas we've ever tasted.
These main types of tea leaves give rise to multitude of varieties that are a product of specific
cultivation methods and the regions where they come from. The season in which the tea is grown
also gives rise to difference in flavor and color.
7
AN OVERVIEW OF INDIAN TEA INDUSTRY
Tea is made from the young leaves and leaf buds of the tea bush Camellia sinensis. Ancient
Chinese and Japanese legends refer to a beverage made from an infusion of dried tea leaves.
In 1833, the East India Company, after losing its legal monopoly of the tea trade between China
and Britain, began to look for other sources of supply. As a result, the cultivation of tea in India
began in 1834, with the planting of wild tea found growing in Assam in 1823.
The tea industry has an important and special place in the Indian economy.
Tea is the country's primary beverage, with almost 85% of total households in the country
consuming tea.
India is the world's largest producer and consumer of tea, with India accounting for 27% of the
world tea production. India's expenditure on beverages and processed foods accounts for 8% of
food expenditure in rural areas, and 15% in urban areas.
India is also an important tea exporter, accounting for around 12-13% of world tea exports.
Further, certain varieties of tea (for example Darjeeling) are grown only in India and are in great
demand across the world. All Darjeeling teas possess the lightness of flavor and fine coloring
that set them apart from all other teas.
India's tea industry exports were estimated at Rs. 17.31 billion during FY2006, accounting for
0.4% of India's exports. In value terms, tea ranks as the fourth-largest agricultural product export
8
item from India, with exports of around US$410 million in 2004.
In terms of employment, the tea industry employs around 1.27 million people at tea plantations
and 2 million people indirectly, of which 50% are women.
The last fact is particularly important when we consider that tea industry, to a large extent, drives
the economies of the regions where the tea gardens are concentrated, for example Assam. Tea is
the prime beverage consumed in India, and private final consumption expenditure (PFCE) on tea,
coffee and cocoa aggregated Rs. 134.96 billion in FY2005, accounting for around 2% of
India's PFCE on food and 0.7% of India's PFCE. The latest available data indicates that tea
accounts for 90.6% for India's consumption of stimulants (tea, coffee, and cocoa beans),
followed by coffee (7.7%), and cocoa beans (1.7%).
Tea plantations in India are mainly located in rural hills and backward areas of North-eastern and
Southern States. The North- Eastern region with 82% of area accounts for 76% of total tea
production. Major tea growing areas of the country are concentrated in Assam, West Bengal,
Tamil Nadu and Kerala. The other areas where tea is grown to a small extent are Karnataka,
Tripura, Himachal Pradesh, Uttaranchal, Arunachal Pradesh, Manipur, Sikkim, Nagaland,
Meghalaya, Mizoram, Bihar and Orissa.
The tea as an agricultural output earns more money for the country than as a manufactured
product. But this by no means indicates that tea manufacturing is a nascent concept in India.
The only player that has crossed the seven seas to promote branded tea in form of Poly-packs etc
is Tata Tea. But the fact that there are no other major house which has promoted itself as a tea
manufacturing house provides enough scope to the houses themselves to improve their status.
9
MAJOR PLAYERS IN INDIAN TEA INDUSTRY
MAJOR
TEA
PLAYERS
ASSAM GOODRICKE DUNCANS JAY SHREE

CO. LTD. GROUP LTD. INDUSTRIES TEA &
TATA LTD. INDUSTRIES
TEA LTD.
10
TATA TEA
INDUSTRY - TEA
INCORPORATION YEAR - 1962
OWNERSHIP - TATA GROUP
REGISTERED OFFICE - 1, BISHOP LEFROY ROAD,

KOLKATA-WEST BENGAL
TEL. NO.- - 22811807
LISTED ON - BOMBAY, CULCUTTA, LONDON, NATIONAL, UTTAR

PRADESH (KANPUR)
WEBSITE - www.tatatea.com
11
BOARD OF DIRECTORS
DIRECTORS NAME DESIGNATION
R.N. TATA CHAIRMAN
R.K. KRISHNA KUMAR VICE CHANCELLOR
Y.H. MALEGAM DIRECTOR
D.B. ENGINEER DIRECTOR
F.K. KAVARANA DIRECTOR
U.M. RAO DIRECTOR
AMRITA PATEL (Dr.) DIRECTOR
K. PRINGLE DIRECTOR
P.T. SIGANPORIA MANAGING DIRECTOR
S. TALWAR (Ms.) EXECUTIVE DIRECTOR
D. K. SEN VICE PRESIDENT & SECRETARY
12
COMPANY BACKGROUND
Tata tea is the second largest tea company in India with an annual turnover of Rs.1056.4 crore. A
part of the Tata Group, the company was incorporated in 1964 as a joint venture between the Tata
Group and the UK--based James Finlay & Co. In December 1982, the Tata Group acquired
foreign holding of James Finlay. Subsequently, in 1983, the company was re--christened as `Tata
Tea Ltd.' from `Tata Finlay Ltd' earlier.
The company's business activities span from plantations to manufacturing and selling of
packaged and instant tea in the domestic as well as the overseas market. The company's packet
tea division is involved in buying, blending and packaging of tea and its operations are spread
over nine facilities. The company sells 90 per cent of its tea in packet form with bulk sales
accounting for only 10 per cent. It controls 14 per cent of the Indian tea market (2005--06) with
some of the famous brands, Tata Tea, Tetley, Kanan Devan, Chakra Gold, Agni and Gemini,
under its umbrella. The company reaches the Indian consumer with over 1.7 million retail
outlets, 2,500 stockist and 38 C&F agents spread across the country.
Tata Tea's instant tea operations are carried out from a 100 per cent export oriented unit (EOU)
located in Munnar. The instant tea is exported mainly to the USA as also to Switzerland, Austria,
Germany, Italy, Taiwan, Singapore, Japan and Australia. The company earns around 15 per cent
of its total revenues from exports. The entire exports to USA are done through Tata Tea Inc, a
100 per cent subsidiary of Tata Tea. The Tetley tea division based at Kochi is an EOU, which
services the branded business of specific Tetley and Tata Tea markets outside India. The global
business division of Tata Tea has three main lines of business, branded tea, bulk tea, and spices.
Tata Tea has come a long way from being a pure plantation company to become a branded tea
company. Currently, it is amongst the top two branded tea manufacturers in India, the other one
being Hindustan Unilever. The strategic decisions of acquiring Tetley Tea and selling off its
plantations have helped it increase its presence in the branded tea business.
In April 2005, the company transferred 17 tea gardens in Kerala to Kanan Devan Plantations
Company (KDPC). Further, it transfered six of its plantations in Kerala and Tamil Nadu to its
subsidiary, Tata Coffee, there by completely exiting its planation business in South India. Two
other estates (Pllivasal and Perikanal) are managed by KDPC on behalf of Tata Tea.
The company also plans to transfer its plantations business in North India to Amalgamated
Plantations Private Limited soon. This would slowly pave the exit for the company from its tea
estate operations and allow it to focus solely on its branded tea business. The newly formed
company, APPL will be involved in non--tea activities like alternative cropping, pisciculture and
floriculture. Tata Tea also plans to enter the health segment by launching new products related to
13
green tea, speciality, fruits and herb drinks. It also plans to utilise its plantations for tourism
purposes.
In May 2007, the company entered into a joint venture agreement with a Chinese company--
Zhejiang Tea Import & Export to manufacture and market green tea polyphenols, tea extracts and
other tea beverages. The company also acquired a stake in Mount Everest Mineral Water
(MEMW) to diversify into the pure water segment. MEMW became a subsidiary of Tata Tea
with effect from 22 August 2007.
Besides Tata Tea Inc, the company has two more subsidiaries, viz. Tata Tea (GB), the special
purpose vehicle formed in March 2000 for the purchase of The Tetley Group's shares and Tata
Coffee, the fifth largest coffee company in India with a market share of 2.5 per cent (2005--06).
Tata Coffee is listed on the Indian bourses and Tata Tea holds 57.5 per cent stake in it.
MILESTONES
 Pre 1963 James Finlay
 1964 Tata Finlay established to develop value added Tea
 1976 Tata Finlay takes over tea production and marketing operations of James Finlay
 1983 James Finlay sell their shareholdings to Tatas heralding the "Dawn of a new Era" -
Tata Tea is born
 1987 A wholly owned subsidiary, Tata Tea Inc, set up in the U.S.A.
 1991 Acquisition of 52.5% shareholding in Consolidated Coffee Ltd (Tata Coffee Ltd.)
 1992 Joint Venture in Sri Lanka, Estate Management Services (P) Ltd. formed.
 1993 Joint Venture alliance with Allied Lyons plc - Tata Tetley established.
 1995-96 65% share Lankan JVC acquires 51% shareholding in Watawala Plantations Ltd.
 1996 Sri Lankan JVC acquires 51% shareholding in Watawala Plantations Ltd.
 2000 Tata Tea acquires The Tetley Group Ltd., UK.
14
ASSAM CO. LTD.
INDUSTRY - TEA
OWNERSHIP - MEHTA MAHENDRA GROUP
REGISTERED OFFICE - GREENWOOD TEA ESTATE,

PO-DIBRUGARH,
DIBRUGARH- ASSAM
TEL. NO. - 0373-2301051
LISTED ON -BOMBAY, CULCUTTA, GAUHATI,

NATIONAL
WEBSITE - www.assamco.com
15
BOARD OF DIRECTORS

K K JAJODIA CHAIRMAN
A K JAJODIA MD & CEO
ABHAY CHAWDHRY DIRECTOR (FINANCE) & CFO
AMIR AHSAN EXECUTIVE DIRECTOR
B P KANODIA DIRECTOR
SANTOSH BHAGAT DIRECTOR
PINTU KR AGARWALLA DIRECTOR
ARUP KUMAR ROY CO. SECRETARY
16
COMPANY BACKGROUND
Assam Company Ltd (ACL) was founded in 1839 and is the pioneer tea plantation company in
the world. It is the first tea plantation company of India started its first tea garden in 1839. ACL
is also the first company to explore oil in Assam in the year 1889.
ACL is one of the leading producers of the most exquisite, high quality, premium teas. The
company operates 16 factories, 19 tea estates and gardens spread over 12,000 hectares. It
employs over 32,000 people with well laid-out infrastructure, duly supported by planned social
welfare activities.
The company manufactures around 15 million kg. of tea and being a bulk manufacturer, 95% of
the operations are done through B2B route. The remaining 5% of the business is transacted in
small high value niche product segment.
The business totally is committed to high quality, with useful quantity in both export and the
domestic segments wherein 90% of the B2B process is directly placed to people who are in the
retail chains. The entire niche business conducted by the company is attributed to direct retail
services.
Net revenues for ACL's Tea division are expected to be at Rs.1290 mn and net profit of Rs.172
mn in CY05E. The company caters to the premium tea segment, having established its brand
value in the international markets. ACL plans to merge its subsidiary Namburnadi Tea Company
(NTCL) with the parent company by September 2005. This is an initiative to consolidate its tea
units so as to focus on the tea business as a whole.
ACL employs over 32,000 people with well laid out infrastructure, duly supported by planned
social welfare activities.
ACL is preparing the platform to expand its value on the global tea market.
ACL actively takes interest in the field of wild life preservation.
17
LANDMARKS
 In 1845, the Company by a Deed of British Parliament was awarded the "Royal
Charter" by Her Majesty Queen Victoria, the then Empress of India in recognition of
excellence.
 In 2005, Mr. David Dewherst, Hon'ble Lt. Governor of Texas, USA, presented the
"Wooden Hammer of Texas" to Dr. KK Jajodia, the Chairman of Assam Group of
Companies.
 Tea is a gift of the British Raj to India and through India to the world, successfully
achieved through ACL, which continues to be recognized as the "Jewel of the Crown" of
the Tea Industry.
 In India Oil was first discovered in North East by an associate of Assam Company
Limited.
 After liberalization of Indian Govt. policies in 1991 - 1992, ACL diversified into the oil
and gas industry focusing on exploration, development, and production in North East
India.
 One of the leading producers of the most exquisite, high quality, premium teas.
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GOODRICKE GROUP LTD.
INDUSTRY - TEA
OWNERSHIP - GOODRICKE (F) GROUP
REGISTERED OFFICE - 'CAMELLIA HOUSE',14,

GURUSADAY ROAD,
KOLKATA - 700 019
WEST BENGAL, INDIA
TEL. NO. - +91-33-22873067
WEBSITE - www.goodricke.com
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BOARD OF DIRECTORS

P.A. LEGGTT CHAIRMAN
A.N SINGH MANAGING DIRECTOR & CEO
B.N. GHOSH MANAGING DIRECTOR
K.S. DAVID MANAGING DIRECTOR
M.C. PERKINS NON EXECUTIVE DIRECTOR
A.K. MATHUR DIRECTOR
S. KAUL (Dr.) DIRECTOR
K.SINHA DIRECTOR
PRODOSH KUMAR SEN DIRECTOR
K. PALCHOUDHURI DIRECTOR
D.P. CHAKRAVARTI GM & SECRETARY
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COMPANY BACKGROUND
The Company was incorporated in the State of West Bengal, India on 14th June 1977 as a public
limited company under the provisions of the Companies Act 1956 (Act).
Its main objects per Memorandum & Articles of Association are, amongst other things, to grow,
cultivate, manufacture, treat, blend, process, buy, sell and deal in tea in various forms, to carry on
the business as planters in all its branches, to manufacture, buy, sell and deal in machinery for
processing tea and in connection therewith or acquire by amalgamation, purchase, take-over or
otherwise the whole or part of the assets, liabilities and undertaking in India or elsewhere of any
other company, body corporate, firm, association of person.
The Company was granted a certificate of entitlement to commence business under the
provisions of the Act by the Registrar of Companies, on 27th June 1977.
All the 17 existing tea gardens of Goodricke Group Ltd. were owned by eight Sterling Tea
Companies . They had established tea gardens progressively in late 1800s and were carrying on
business in tea in India. The sterling companies together owned 17 tea estates in India. 12 estates
are in the district of Jalpaiguri and 3 in Darjeeling in the State of West Bengal and 2 in Darrang
district in the State of Assam.
Pursuant to Section 29(2)(a) of the Foreign Exchange Regulation Act, 1973 (the FERA),
Reserve Bank of India agreed to grant permission to carry on business to the Sterling companies
subject to Bank of India agreed to grant permission to carry on business to the Sterling
companies subject to takeover of the Gardens by an Indian Company to be formed.
Accordingly based on schemes of merger and with the sanction of Calcutta High Court, the 8
Sterling Companies were amalgamated with Goodricke Group Ltd effective 1st January 1978.
The Company has associated operational companies having tea gardens in Darjeeling and
Assam:
Companies Tea Estate (With Tea Factory) Location
21
Amgoorie India Ltd. 2 Darjeeling
Stewart Holl (India) Ltd. 4 Assam
Amgoorie India Ltd. 2 Assam
Koomber Tea Co. Pvt. Ltd. 2 Assam
DUNCANS INDUSTRIES LTD.
INDUSTRY -TEA
OWNERSHIP - GOENKA G.P. (DUNCANS) GROUP
REGISTERED OFFICE - 31, NETAJI SUBHAS ROAD, KOLKATA WEST

BENGAL-700001
TEL. NO. - +91-33-2230062
WEBSITE - www.duncaninfotech.com
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BOARD OF DIRECTORS
G.P. GOENKA CHAIRMAN
P.K.KAUL DIRECTOR
R.K. BHARGAVA DIRECTOR
T.S. BROCA DIRECTOR
MILAN SEN DIRECTOR
M.H. CHINOY DIRECTOR
D. SENGUPTA DIRECTOR (IDBI)
P.K.BASU (Dr.) DIRECTOR (ICICI)
A.K. GOEL EXECUTIVE DIRECTOR
S.P. GUPTA EXECUTIVE DIRECTOR
V.P. KAUSHIK MANAGING DIRECTOR
R.R. PRASAD EXECUTIVE DIRECTOR
VS. VISWANATHAN SECRETARY
23
COMPANY BACKGROUND
In the year 1859 Walter Duncan, a young Scottish merchant lands on the magical shores of the
East Indies. Swayed by the beneficial climate of easy trade on the Indian shores, the intrepid
traveller sets up the Playfair Duncan company to cultivate the honey brew of the Darjeeling
slopes-tea.
Under this one man entrepreneurship, the company begins the export of high quality tea to a
growing market abroad, and within years the name Duncans become synonymous with tea.
Business expands, the Duncan Brothers Limited is formed, and the first seeds of diversification
is sown- the Birpara Tea Company and the Anglo India Jute Mills.
In the year 1951 the Goenka family, steeped in generations of business expertise, takes up the
reins of Duncans Brothers Limited. With interests in two of the core industries of India, tea and
jute, the now non-anglicised Group soon creates a firm foothold in the subcontinent, and is ready
for 'greener pastures'.
Mr. G.P.Goenka takes over operations of the Groups tea gardens, and lays the foundation for
their professional management, which has today made the company a force to reckon with in the
tea industry.
In the year 1979 he takes over as Chairman of the Group. under whose able stewardship, the
Group receives new direction and impetus. A phenomenal growth commences as the group
expands through vertical integration and diversification. Duncans goes on to become one of the
countrys fastest growing business houses, their interests touching industries as far-encompassing
and varied as electronics, tyre machinery, petrochemicals, thermosetting plastics, paper, specialty
chemicals, synthetic rubber, carbon black, nylon tyre cord, synthetic fibers, leasing, and even
education and healthcare.
Duncan Goenka Group is today highly diversified with 20 operating companies and a
workforce of 40,000 employees. Its present turnover of Rs. 20 billion, places it amongst the top
ten industrial groups in the country. In its millennium avatar, the Group has identified four thrust
areas - power generation and other core sector projects, agro-based ventures, chemicals and
petrochemicals and frontier sciences like software and biotechnology. A target of Rs. 100 billion
has been set for achievement by 2000 A.D.
24
Today, the Duncan Goenka Group is a nucleus of activity, seeking new challenges and ready for
exploration, to define its vision and realize its dreams.
JAY SHREE TEA & INDUSTRIES LTD.
INDUSTRY - TEA
OWNERSHIP - BIRLA B.K. GROUP
REGISTERED OFFICE 15TH FLOOR, 10,

- INDUSTRY HOUSE,
CAMAC STREET, KOLKATA-WEST BENGAL
TEL. NO. - 91-33-22827531
LISTED ON - BOMBAY, CALCUTTA, DELHI, NATIONAL
WEBSITE - www.jayshreetea.com
25
BOARD OF DIRECTORS

B.K. BIRLA CHAIRMAN
B.M. KHAITAN DIRECTOR
G.P. GOENKA DIRECTOR
S.S. KOTHARI DIRECTOR
S.K. TAPURIAH DIRECTOR
JAYSHREE MOHTA DIRECTOR
D.K. PANT DIRECTOR (GIC)
JAYSHREE MOHTA (SMT.) DIRECTOR
D.M.JAIN MANAGING DIRECTOR
R.K. GANERIWALA VP & SECRETARY
26
COMPANY BACKGROUND
Jay Shree Tea & Industries Limited is a well diversified conglomerate of B. K. Birla Group-- a
well reputed industrial house of India.
Jay shree Tea & Industries Limited is engaged in the business of plantation, sale and export of
tea. It diversified into manufacture of decoration plywood, timber packing products and
chemicals and phosphatic fertilizers. The main product of the company is Black tea.
The company has under its fold 19 tea estates including two estates in its subsidiary spread all
over India and manufactures around 15 million Kgs of tea per annum.
Total area under tea is around 8000 Hectares. The Company produces around 10% of total
Darjeeling teas produced in the country.
The company's efforts to improve tea productivity and quality have been recognized at various
levels and numerous awards and prizes have been awarded to it . Most of the tea estates of the
company are ISO-9002 certified.
The company manufactures Super phosphate and Sulphuric Acid at its two plants at Khardah in
North 24-Parganas, West Bengal and one plant at Pataudi in Gurgaon district, Haryana. The
annual installed capacity is 2,25,721 M.T. Superphosphate and 95,710 M.T. of Sulphuric acid
and production of 1,31,964 M.T. of Superphosphate and 76,438 M.T. of Sulphuric acid during
1999-2000.
In its Real Estate Division the company has developed commercial complexes and residential
apartments at Calcutta and Bangalore. It is in the process of developing residential complexes in
the heart of Calcutta through its subsidiary Shiva's Group Limited. All these properties are in
prime areas and we stress on high quality constructions.
27
TOPIC OF THE PROJECT
GROWTH AND PROSPECTS OF TEA INDUSTRY IN INDIA.
28
OBJECTIVES
OF
THE PROJECT
29
RESEARCH OBJECTIVE:-
 Complete overview of Tea Industry in India.

 To know the market trend of tea industry in India.
 To know the sales & growth of tea industry.
 To know the contribution of tea industry in Indian Economy.
 To have a overview of major tea production companies in India
30
METHODOLOGY
31
METHODOLOGY:-
TYPE OF RESEARCH: - Analytical and Descriptive
DATA COLLECTION METHOD: - Secondary Data
SOURCES OF SECONDARY DATA:-

 CMIE Database
 Through internet
 Through Tea Association of India s website
 Through Tea Board of India s website
 Reference books and journals
STATISTICAL TOOLS:-
32
 Graph
 Bar Diagram
 Tabular Form
ANALYSIS
&
FINDINGS
33
ANALYSIS
RECENT TREND IN INDIAN TEA INDUSTRY
AllIndia tea production declined by 2.6 per cent to 1,05,440 tonnes in June 2008. Cumulative
tea production during the first half of the year 2008 grew by 3.3 percent to 3,45,680 tonnes. This
growth was driven by tea production in South India.
Tea production in South India grew by 9.5 per cent during the same period. However, North
India witnessed a marginal growth of 0.3 per cent in the crop output. We expect tea production to
grow by 1.8 per cent during the year 2008.
From the year 2003 the production of tea mostly has gone up. This was continued till the year
2006.In the year 2003 the production was Rs.878.13 Crore which has gone up to Rs.957.27
Crore in the year 2006. But then it has gone down to Rs.944.68 Crore in the year 2007.
In the current year that is in 2008 the production is Rs.962.03 crore which is the highest of the
given years.
34
The recent changes in the production can be summarized in the following tabular form:
Year 2003 2004 2005 2006 2007 2008

TeaProduction 892.97
(Rs.Cr.) 878.13 927.98 957.27 944.68 962.03
Based on the above table we can draw a graph as below:
*SOURCE-CMIE
35
INTERPRETATION
The graph shows that the only year when the production has gone down is 2007. That year the
production has decreased to 944.68 crore from 957.27 crore in the year 2006.
In recent context the production in the year 2008 has gone up from 944.68 crore to 962.03 crore.
This shows that the production mostly has gone up during the last 6 years.
PRODUCTION IN ONE YEAR (MONTHLY)
In last one year from June 2007 to June 2008 the monthly production has been recorded as
below:
MONTH INDIA NORTH INDIA SOUTH INDIA

Jun 2007 1,08,291 84,637 23,654
Jul 2007 1,25,083 1,09,372 15,711
Aug 2007 1,16,275 1,00,657 15,618
Sep 2007 1,13,195 92,772 20,423
Oct 2007 1 ,13,297 95,527 17,770
Nov 2007 91,953 68,943 23,010
Dec 2007 50,165 32,083 18,082
Jan 2008 21,622 8,116 13,506
Feb 2008 17,766 1,337 16,429
Mar 2008 50,543 30,986 19,557
Apr 2008 80,042 55,576 24,466
May 2008 70,267 46,866 23,401
Jun 2008 1,05,440 83,082 22,358
36
* SOURCE- CMIE
INTERPRETATION
Based on the above graph it can be seen that the production of tea in India has seen many ups
and downs. The highest production was in July 2007 and the lowest was in February 2008. Also,
it can be seen that the production in South India has significant role in January 2008 as well as in
February 2008.
PRODUCTION OF TEA IN INDIA (LAST 5 YEARS)
Year 2003 2004 2005 2006 2007

Tea Production (In Tonnes) 878129 892965 927984 955907 944678
Tea Production in North India (In 648277 662184 700975 729619 724690
Tonnes)
Tea Production in South India (In 229852 230781 227009 226288 219988
Tonnes)
*SOURCE- CMIE
INTERPRETATION:-
Based on the above graph it can be seen that the production of tea in India has grown regularly
from 2003 to 2006, but gone down in 2007.This is mainly due to increase in the production in
37
North India. The production in South India is nearly constant. This shows that the main region of
production is North India.
REGION-WISE PRODUCTION (LAST 5 YEARS)

Year 2003 2004 2005 2006 2007
Tea Production in North India (In 648277 662184 700975 729619 724690
Tonnes)
Tonnes)
*SOURCE- CMIE
INTERPRETATION
The above graph shows that the Northern India is the major tea producing region than Southern
region. The production in North India has continuously increases from 2003 to 2006 and
38
decreases in 2007.The production in North India in the year 2004 was 648277 Tonnes and
reaches to 729619 Tonnes in the year 2006.
TEA PRODUCTION IN NORTH INDIA (LAST 5 YEARS)

Tea Production in Assam (IN TONNES)
Year 2003 2004 2005 2006 2007

Tea Production in Assam 434759 435649 474137 483649 479925
(Tonnes)
*SOURCE-CMIE
39
INTERPRETATION
Based on the above graph it can be interpreted that the production in Assam is continuously
increased from the year 2003 to the year 2006 and then slightly decreased in the year 2007.This
shows that Assam has a great contribution in the production of tea in North India. Assam is the
main tea producing region for North India.
Tea Production in West Bengal (IN TONNES)
Year 2003 2004 2005 2006 2007
Tea Production in West Bengal 200635 214541 214660 234654 231436

(Tonnes)
*SOURCE-CMIE
*SOURCE- CMIE
INTERPRETATION
Based on the above graph it can be seen that the production in West Bengal is continuously
increased from the year 2003 to the year 2006 and then slightly decreased in the year 2007.This
40
shows that West Bengal has also great contribution in the production of tea in North India. After
Assam, West Bengal is the other main tea producing region for North India.
Tea Production in Multi-States (IN TONNES)
Year 2003 2004 2005 2006 2007
Tea Production in Multi-States 12883 11762 12178 12684 13329

(Tonnes)
*SOURCE-CMIE
INTERPRETATION
The above graph shows the production in other states of North India. The production in the year
2003 was 12883 Tonnes which was greater than the production in the three consecutive years i.e.
41
2004, 2005 and 2006. The production was continuously increased from the year 2004 to the year
2007. The highest production was in the year 2007 which was 13329 Tonnes.
TEA PRODUCTION IN SOUTH INDIA (LAST 5 YEARS)
Year 2003 2004 2005 2006 2007

Tonnes)
*SOURCE- CMIE
INTERPRETATION
The above graph shows that the tea production has decreasing trend from the year 2004 to 2007.
The only increase was in the year 2004. In the year 2004 the production has slightly increased
with respect to 2003. The production was 230781 Tonnes in 2004. The lowest production was in
the year 2007 when it was 219968 Tonnes.
42
SALES GROWTH
YEAR 2003 2004 2005 2006 2007
Sales Growth of Tea Companies (in -18.80% -9.50% 19.60% 9.60% 4.60%
Percent)
*SOURCE- CMIE
INTERPRETION
The above graph shows that in 2003 the sale has declined with respect to the previous year.
Again it has declined in 2004 with respect to 2003. But, in 2005 it has gone up with respect to
2004. Thereafter, again it has gone up in 2006 with respect to 2005.This continues in 2007 also.
43
EXPENSES GROWTH
YEAR 2003 2004 2005 2006 2007

Expenses Growth of Tea Companies -20.90% -5.30% 18.60% 11.20% -0.90%
2. EXPORT
*SOURCE- CMIE
INTERPRETATION
The above graph shows that in 2003 the expense has declined with respect to the previous year.
Again it has declined in 2004 with respect to 2003. But, in 2005 it has gone up with respect to
44
2004. Thereafter, again it has gone up in 2006 with respect to 2005. In 2007 it has gone down
with respect to 2006.
PBDIT GROWTH
YEAR 2003 2004 2005 2006 2007
PBDIT Growth of Tea Companies -49.90% -47.60% 178.70% -44.50% 190.30%
*SOURCE- CMIE
INTERPRETATION
The above graph shows that the PBDIT has changed significantly in last five years. From
-49.90% in 2003 it has reached to 190.30% in 2007. It has increased in 2004 with respect to
2003. In 2005 it has gone up significantly with respect to 2004. Thereafter, again it has gone
down in 2006 with respect to 2005. In 2007 it has gone up with respect to 2006. In 2007 it is
seen that the growth is maximum of the given years.
45
EXPENSES TO SALES RATIO
YEAR 2003 2004 2005 2006 2007

Expenses to Sales Ratio of Tea Companies 92.6% 96.8% 95.2% 96.5% 91.4%
*SORCE- CMIE
INTERPRETATION
The above graph shows the expenses to sales ratio of tea companies from the year 2003 to the
year 2007. The ratio was maximum in the year 2004 which was 96.80% and minimum in the
year 2007 which was 91.40%. The graph shows that the ratio was neither increasing nor
decreasing continuously, rather it has ups and downs alternately.
46
MARKET CAPITALISATION(IN Rs.Cr.)
YEAR 2003 2004 2005 2006 2007

Market Capitalisation of Tea Scrips (Rs.Cr) 1418 2370 4175 8550 5627
*SOURCE- CMIE
INTERPRETAION
The above graph shows the market capitalization of tea scrips in Rs. Crore. The continuous
growth was recorded from the year 2003 to the year 2006 and then it has gone down in the year
2007. The graph shows that there was great increase in the year 2006 with respect to the year
2005. The increase was more than 100%. Thereafter, in the next year it has gone down by nearly
30%.
47
VOLATILITY OF DAILY RETURNS
VOLATILITY OF DAILY RETURNS OF TEA INDEX (PERCENT)
Year 2003 2004 2005 2006 2007

Volatility of Daily Returns of Tea Index (Market 1.60% 2.20% 2% 1.50% 2.10%
Cap Weighted)
Volatility of Daily Returns of Tea Index (Equally 2.10% 2.40% 2.80% 2% 2%
Weighted)
*SOURCE- CMIE
INTERPRETATION
48
The above graph shows the volatility of daily returns of tea. The volatility of daily returns of tea
index (Market Cap Weighted) has shown ups and downs whereas the volatility of daily returns of
tea index (Equally Weighted) has shown mainly increasing trend from 2003 to 2006 and then
same after decreasing in 2006.
TOTAL TRADING VOLUME
Year 2003 2004 2005 2006 2007

Total Trading Volumes of Tea Scrips 70200 237454 319069 1109738 541964
(Rs.Lakh)
*SOURCE- CMIE
INTERPRETATION
The above graph shows the total trading volumes of tea scrips in Rs. Lakh. The continuous
growth was recorded from the year 2003 to the year 2006 and then it has gone down in the year
2007. The graph shows that there was great increase in the year 2006 with respect to the year
49
2005. The increase was more than 300%. Thereafter, in the next year it has gone down by nearly
50%.
OTHER INCOME TO TOTAL INCOME RATIO OF TEA COMPANIES
Year Dec-03 Dec-04 Dec-05 Dec-06 Dec-07
Other Income To Total Income Ratio of Tea 4.20% 5.80% 4.90% 6.30% 5.70%
Companies (Percent)
*SOURCE- CMIE
INTERPRETATION
Based on the above graph it can be interpreted that the other income to total income ratio was
maximum in the year 2006. It has alternate ups and downs in the 5 years taken from 2003 to
50
2007. Other income to total income ratio was 6.30% in 2006. Then it has decreased to 5.70% in
2005. The lowest was recorded in the year 2003 when it was 4.20%.
The above graph shows that the contribution of other income in the total income has increased
in 2007 with respect to 2003.
EXPORT & IMPORT OF TEA
EXPORT TO THE WORLD

Total Tea Exports To World 164594.9 176813 177234.3 184058.7 171247.3
(Tonnes)
*SOURCE- CMIE
51
INTERPRETATION
The above graph shows that the export to the world has increased continuously from 2003 to
2006 and then decreased in 2007. The total export to the world was 164594.89 Tonnes in 2003
which has increased to 184058.69 Tonnes in 2006.The year 2006 has shown maximum value of
export to the world and the year 2003 has lowest value of export.
IMPORT OF TEA
Total Tea Imports To World (Tonnes) 9885.68 29836.38 18677.61 25924.83 18933.7
*SOURCE- CMIE
INTERPRETATION
Based on the graph it can be interpreted that the import of tea has alternate ups and downs. The
year 2004 has maximum value of import. It was 29836.38 Tonnes in 2004 which was much
greater than the value in 2003. In the year 2003 the import value was minimum which was
52
9885.68 Tonnes. On comparing the values in 2003 and 2007,it can be seen that the value in 2007
was nearly twice that of 2003.
COMPARITIVE ANALYSIS OF THE SELECTED TEA

CPMPANIES
COMPARISION OF TOTAL INCOME
Total income (Rs. Crore) Mar 2004 Mar 2005 Mar 2006
Tata Tea Ltd. 855.93 961.61 1093.9
Assam Co. Ltd. 126.97 150.18 156.64
Goodricke Group Ltd. 197.71 216.31 227.87
Duncans Industries Ltd. 133.84 123.94 189.74
Jay Shree Tea & Inds. Ltd. 202.25 230.82 241.76
*SOURCE- CMIE
INTERPRETATION
The above graph shows that the total income of Tata Tea has grown consistently with great
extent. In 2004 the total income of Tata Tea was Rs.855.93 Crore which has increased to
Rs.1093.9 Crore in 2006. The increase was quite good in 2006 with respect to 2005.
53
Total income of Assam Co. Ltd. has also increased consistently. It was Rs.126.97 Crore in the
year 2004 which has increased to Rs.156.64 Crore in the year 2006. The increase was much
better in 2005 rather in 2006.
Goodricke Group Ltd. has also recorded consistent growth in its income. Total income has
reached to Rs.227.87 Crore in 2006 from Rs.197.71 Crore in 2004. The increase was much better
in 2005 rather in 2006.
Total income of Duncans Industries Ltd. has declined in 2005 with respect to 2004 and has
increased in 2006 with respect to 2005.
Jay Shree Tea & Industries Ltd. has shown smooth growth in its total income.
COMPARISION OF SALES
Sales (Rs. Crore) Mar 2004 Mar 2005 Mar 2006

Tata Tea Ltd. 777.53 893.27 971.01
Assam Co. Ltd. 113.26 138.57 152.24
*SOURCE- CMIE
INTERPRETATION
Based on the above graph it can be interpreted that all the above companies has shown consistent
growth in their sales. Tata Tea has shown maximum growth in its sales.
Sale of Tata Tea has increased from Rs.777.53 Crore to Rs.971.01 Crore. In the three consecutive
year Tata Tea has performed well and recorded maximum sales.
54
Sales of Assam Co. Ltd. has also increased from Rs.113.26 Crore to Rs.152.24 Crore.
Maximum growth was recorded in the year 2005 with respect to 2004.
Goodricke Group Ltd. has shown slight increase in its sales. From Rs.193.97 Crore in the year
2004, it has reached to Rs.222.83 Crore in 2006.
Duncans Industries Ltd. has shown maximum growth in the year 2006 with respect to 2005. Its
sales was Rs. 101.53 Crore in 2004 which has reached to Rs. 168.76 Crore.
Jay Shree Tea & industries Ltd. has also recorded slight growth in its sales as compared to other
tea companies.
COMPARISION OF PBT
PBT Mar 2004 Mar 2005 Mar 2006

Tata Tea Ltd. 121.11 162.04 230.52
Assam Co. Ltd. 5.74 3.37 7.78
Duncans Industries Ltd. -75.42 -84.98 -694.66
*SOURCE- CMIE
INTERPRETATION
55
Based on the above graph it can be interpreted that the PBT of Tata Tea has maximum value as
compared to other tea companies selected. Duncans Industries Ltd. has shown loss for the three
consecutive years. While, Other tea companies which has been selected has very low value of
PBT.
COMPARISION OF PAT
PAT Mar 2004 Mar 2005 Mar 2006

Tata Tea Ltd. 91.53 128.81 186.93
Assam Co. Ltd. 5.19 3.37 7.45
Duncans Industries Ltd. -75.42 -84.98 -798.9
*SOURCE- CMIE
INTERPRETATION
The above graph shows that the PAT of Tata Tea was maximum while that of Duncans Industries
Ltd. was minimum. It can be seen that the only company which has shown loss for the years
taken is Duncans Industries Ltd.
56
NET WORTH
Net worth Mar 2004 Mar 2005 Mar 2006

Tata Tea Ltd. 975.26 1048.97 1161.26
Assam Co. Ltd. 215.69 213.43 205.59
Duncans Industries Ltd. 616.27 555.04 -203.35
*SOURCE- CMIE
INTERPRETATION
Based on the above graph it can be interpreted that Tata Tea has the maximum value of net worth
for the years taken. Tata Tea has consistently shown growth in the net worth. While Assam Co.
Ltd., Goodricke Group Ltd. and Jay Shree Tea & Industries Ltd. have nearly same value of net
57
worth for the three consecutive years. Duncans Industries Ltd. has shown decreasing trend for
the three years.
COMPARISION OF TOTAL ASSETS
Total assets (Rs. Crore) Mar 2004 Mar 2005 Mar 2006
Tata Tea Ltd. 1432.55 1540.2 1703.53
Assam Co. Ltd. 437.95 472.73 722.35
*SOURCE- CMIE
INTERPRETATION
Based on the graph it can be interpreted that the Duncans Industries Ltd. hasmaximum value of
Total assets for the years 2004 and 2005. Tata Tea has maximum value as compared to others in
the year 2006.
58
GROWTH (%) IN TOTAL INCOME
Total Income Mar 2004 Mar 2005 Mar 2006

Tata Tea Ltd. 2.57% 12.35% 13.76%
Assam Co. Ltd. -5.49% 18.28% 4.30%
Goodricke Group Ltd. 4.34% 9.41% 5.34%
Duncans Industries Ltd. -80.99% -7.40% 53.09%
Jay Shree Tea & Inds. Ltd. 9.29% 14.13% 4.74%
*SOURCE- CMIE
INTERPRETATION
Based on the graph it can be interpreted that growth (%) in total income was maximum for Jay
Shree Tea & Industries Ltd. in 2004. Growth (%) for Tata Tea was increased greatly in 2005 with
59
respect to 2004 and then slightly in 2006. Duncans Industries Ltd. has shown enormous growth
in its total income from 2004 to 2006. Assam Co. Ltd. and Goodricke Group Ltd. have shown
ups and downs.
COMPARISION ON THE BASIS OF GROWTH (%) IN PBDITA
PBDITA Mar 2004 Mar 2005 Mar 2006

Tata Tea Ltd. 7.02% 22.73% 34.54%
Assam Co. Ltd. -11.26% 8.73% 12.06%
Goodricke Group Ltd. NA 18.69% 17.42%
Duncans Industries Ltd. NA NA NA
Jay Shree Tea & Inds. Ltd. -27.80% 24.03% 30.37%
*SOURCE- CMIE
INTERPRETATION
The above graph shows that the PBDITA has continuously grown for three consecutive years for
Tata Tea, Assam Co. Ltd. and Jay Shree Tea & Industries Ltd. Jay Shree Tea & Industries Ltd.
has shown good growth rate in its PBDITA.
60
COMPARISION ON THE BASIS OF GROWTH (%) IN PAT
PAT Mar 2004 Mar 2005 Mar 2006

Tata Tea Ltd. 29.65% 40.73% 45.12%
Assam Co. Ltd. 20.14% -35.07% 121.07%
Goodricke Group Ltd. NA 16.77% 46.28%
Duncans Industries Ltd. NA NA NA

Jay Shree Tea & Inds. Ltd. -60.25% 97.80% 69.32%
*SOURCE- CMIE
INTERPRETATION
Based on the above graph it can be interpreted that the Assam Co. Ltd. has shown enormous
growth in its PAT for the year 2006 with respect to 2004.Tata Tea has shown consistency.
Jay shree Tea & Industries Ltd. has shown great growth in 2005 with respect to 2004 but its PAT
has decreased in 2006.
61
FINDINGS
On the basis of the analysis of Tea Industry of India and different aspects of selected companies
the following findings can be listed:
1. The production of tea in India is heavily depends on the production in North India.
2. The North India is the dominating region in tea production over South region.
3. India has recorded continuous growth in export of tea for the year 2003 to 2006.
4. India has recorded alternate ups and downs in import of tea.
5. Among the selected tea producing companies Tata has emerged as the biggest tea
producer campany for last five years.
6. Tata has continuously recorded growth in its total income, total sales and profit after
tax among the selected tea producing companies.
62
CONCLUSIONS
63
CONCLUSIONS
In India tea is the main beverage for each and every household.
Tea production in India is mainly dependent in the production in North India as compared
to South India.
North India is the main region for tea production in India.
Tata tea is the leader among the selected tea producing companies.
Tea industry in India has shown great flourishment in last few years.
64
LIMITATIONS
65
LIMITATIONS
Though this study provides better knowledge about the tea industry but still it have some
limitations. Following are the main limitations:
1. Due to lack of knowledge, study could not be so deep.
2. Due to short time span, study could not be so deep.
3. Due to data collected much earlier of submission of project report, the most
current data could not be well presented.
4. Only CMIE has been used as a source of data.
5. Some data are not available for some companies.
66
67
BIBLIOGRAPHY
BIBLIOGRAPHY
1. Centre for Monitoring Indian Economy.
2. Internet has been used extently.
3. www.tatatea.com
68
ANNEXURE
69
ANNEXURE
FINANCIAL PERFORMANCE OF THE FOLLOWING

SELECTED TEA PRODUCING COMPANIES:-
TATA TEA
ASSAM CO. LTD.
70
TATA TEA
Tata Tea Ltd. Mar 2003 Mar 2004 Mar 2005 Mar 2006 Mar 2007
Rs. Crore (Non-Annualised) 12 mths 12 mths 12 mths 12 mths 12 mths
-
Total income 834.46 855.93 961.61 1093.9 1295.47
Sales 748.43 777.53 893.27 971.01 1056.38
Income from financial services 66.64 64.88 56.62 65.96 218.4
Total expenses 762.08 745.04 862.13 895.35 1004.49

Raw material expenses 120.19 118.22 204.46 243.27 328.46
Power, fuel & water charges 41.7 44.4 47.42 43.57 39.72
Compensation to employees 161.44 252.55 164.86 133.76 135.52
Indirect taxes 12.06 13.54 12.86 7.24 7.83
Selling & distribution expenses 90.95 96.19 101.62 121.89 127.3
Other operational exp. of indl. enterprises 110.09 106.62 105.72 69.19 63.11
Other oper. exp. of non-fin. service
enterprises 0 0 0 0 0
PBDITA 150.75 161.33 198 266.38 413.75

PBDTA 122.75 143.15 184.03 249.95 368.31
71
PBT 100.1 121.11 162.04 230.52 349.77
PAT 70.6 91.53 128.81 186.93 306.57
Net worth 978.63 975.26 1048.97 1161.26 1543.73

Paid up equity capital (net of forfeited
capital) 56.22 56.22 56.22 56.22 59.03
Reserves & surplus 922.41 919.04 992.75 1105.04 1484.7
Total borrowings 225.39 197.36 191.37 241.35 818.83

Current liabilities & provisions 215.98 210.58 265.97 272.37 332.89
Total assets 1471.78 1432.55 1540.2 1703.53 2723.47

Gross fixed assets 522.24 518.74 528.16 428.9 441.11
Net fixed assets 332.63 312.89 302.7 250.3 246.6
Investments 748.47 835.45 865.85 1106.83 2045.92
Current assets 230.66 195.02 292.02 260.52 350.52
Loans & advances 105.13 76.84 33.99 46.1 36.44
Growth (%)
Total income 0.73274665 2.57292141 12.3468041 13.7571365 18.42673
-
Total expenses 1.91232716 2.23598572 15.7159347 3.85324719 12.1896465
PBDITA 6.77101778 7.01824212 22.7298085 34.5353535 55.3232225
-
PAT 1.88993885 29.6458924 40.7298154 45.1207204 64.0025678
-
Net worth 3.07052361 4.10797353 4.11055171 11.3994701 35.359126
Total assets 3.4890589 -2.6654799 7.51457192 10.604467 59.8721478
ASSAM CO. LTD.
Assam Co. Ltd. Mar 2003 Dec 2003 Dec 2004 Dec 2005 Dec 2006
-
Total income 144.39 100.76 126.97 150.18 156.64
Sales 136.25 99.99 113.26 138.57 152.24
Total expenses 125.08 103.68 126.18 145.26 149.58

Raw material expenses 0 0 0 0 0
Indirect taxes 3.22 3.54 4.24 3.47 3.91
Other operational exp. of indl. enterprises 29.63 26.86 24.54 32.72 34.92
PBDITA 30.56 21.4 25.32 27.53 30.85

PBDTA 11.53 6.76 5.76 7.19 11.41
PBT 5.58 3.4 1.74 3.37 7.78
PAT 5.48 3.24 5.19 3.37 7.45
Net worth 212.12 213.22 215.69 213.43 205.59
72
capital) 22.36 22.36 22.36 22.36 22.36

Total assets 395.77 408 437.95 472.73 722.35

Net fixed assets 324.42 321.94 330.58 344.02 386.34
Investments 0.37 0.19 0.3 0.4 7.68
Current assets 69.46 83.28 104.78 117.73 316.29
Loans & advances 1.52 2.59 2.29 2.86 6.96
Growth (%)
- -
Total income 6.48477778 22.3112457 5.49077015 18.2799086 4.30150486
- -
Total expenses 15.8153598 53.8654652 8.72395833 15.1212553 2.9739777
-
PBDITA 11.8684246 22.8793477 11.2616822 8.72827804 12.0595714
- -
PAT 57.7375503 1.94172062 20.1388889 35.0674374 121.068249
- -
Net worth 6.24049521 4.24542703 4.90855681 0.65938036 5.12383345
-
Total assets 16.2116198 4.14131476 7.34068627 7.94154584 52.8039261
Goodricke Group Ltd. Dec 2003 Dec 2004 Dec 2005 Dec 2006 Dec 2007
-
Total income 189.49 197.71 216.31 227.87 241.82
Sales 184.77 193.97 211.29 222.83 237.81
Total expenses 188.13 205.42 216.74 221.18 234.63

Raw material expenses 23.88 29.12 34.9 37 38.75
Indirect taxes 4.25 3.9 1.46 1.23 1.74
Other operational exp. of indl. enterprises 0 0 0 0 0
Other oper. exp. of non-fin. service enterprises 0 0 0 0 0
PBDITA -0.67 11.56 13.72 16.11 20.12

PBDTA -3.43 9.09 10.6 13.11 16.29
PBT -8.28 3.74 4.93 7.64 10.39
PAT -8.28 3.22 3.76 5.5 7.66
Net worth 63.12 65.12 67.02 69.44 69.06

Paid up equity capital (net of forfeited capital) 21.6 21.6 21.6 21.6 21.6
73
Total assets 131.44 142.05 149.04 232.29 249.36

Net fixed assets 48.35 47.1 47.64 45.19 49.45
Investments 0.54 0.06 0.04 0.05 0.01
Current assets 82.24 94.38 100.95 186.75 198.86
Loans & advances 0.01 0.16 0.26 0.15 0.1
Growth (%)
Total income 2.1454369 4.33795979 9.40771838 5.34418196 6.12191162
Total expenses 2.46732026 9.19045341 5.51066108 2.04853742 6.08101998
PBDITA Error Error 18.6851211 17.4198251 24.8913718
PAT Error Error 16.7701863 46.2765957 39.2727273
Net worth -11.4680192 3.40547422 3.13942752 3.61086243 -0.54723502
Total assets -10.8034745 8.07212416 4.92080253 55.8574879 7.3485729
Jay Shree Tea & Inds. Ltd. Mar 2003 Mar 2004 Mar 2005 Mar 2006 Mar 2007
-
Total income 185.06 202.25 230.82 241.76 262.15
Sales 167.11 182.38 216.15 218.44 244.45
Total expenses 175.02 195.91 222.53 232.29 256.78

Power, fuel & water charges 15 16.18 18.54 20.23 20.61
Indirect taxes 9.18 10.17 10.61 9.5 8.57
Other operational exp. of indl. enterprises 0.12 1.86 0.04 0 0
enterprises 0 0 1.06 1.11 0.83
PBDITA 20 14.44 17.91 23.35 20.68

PBDTA 12.57 8 11.8 16.4 12.18
PBT 8.22 3.21 6.33 10.68 5.92
PAT 8 3.18 6.29 10.65 5.63
Net worth 134.78 131.38 134.72 142.73 145.78

capital) 10.67 10.68 10.68 10.67 10.67

74
Total assets 260.04 285.28 298.25 322.87 333.39
Net fixed assets 97.86 101.77 101.89 106.4 115.23
Investments 62.56 79.91 78.93 99.95 105.86
Current assets 59.87 76.61 88.01 91.8 91.69
Loans & advances 29.26 15.87 18.52 14.34 13.92
Growth (%)
Total income 9.76275208 9.28887928 14.1260816 4.73962395 8.43398412
Total expenses 6.55707763 11.9357788 13.587872 4.38592549 10.5428559
-
PBDITA 81.4882033 -27.8 24.0304709 30.3740927 11.4346895
-
PAT Error -60.25 97.7987421 69.3163752 47.1361502
-
Net worth 5.76648841 0.96064717 3.72670807 7.32507588 2.65973708
Total assets 8.04387569 9.70619905 4.54641054 8.25481978 3.25827733
Duncans Industries Ltd. Mar 2003 Mar 2004 Mar 2005 Mar 2006 Mar 2007
-
Total income 1056.22 133.84 123.94 189.74 107.08
Sales 868.96 101.53 117.41 168.76 102.79
Total expenses 979.49 209.22 208.25 988.49 311.14

Indirect taxes 6.12 2.99 2.44 1.12 1.3
Other operational exp. of indl. enterprises 0 0 0 0 0
PBDITA 100.08 -2.37 -26.7 -618.9 -135.9

PBDTA -79.23 -59.86 -70.85 -680.72 -190.14
PBT -104.35 -75.42 -84.98 -694.66 -203.92
PAT -104.35 -75.42 -84.98 -798.9 -204.14
Net worth 672.79 616.27 555.04 -203.35 -644.28

capital) 53.22 53.22 53.22 53.22 53.22
Reserves & surplus 558.14 475.75 383.79 -422.07 -872.99

Total assets 2117.41 2060.71 2004.94 1268.58 958.83

Net fixed assets 763.92 742.37 724.56 706.37 403.07
75
Investments 355.3 355.23 345.23 339.98 339.34
Current assets 836.15 791.1 730.96 202.12 170.49
Loans & advances 34.8 32.33 51.16 19.84 18.84
Growth (%)
- - - -
Total income 31.9778459 80.9925962 7.39689181 53.0902049 43.5648783
- - -
Total expenses 38.7297866 67.9598567 -0.4636268 374.665066 68.5237079
-
PBDITA 45.2038274 Error Error Error Error
PAT Error Error Error Error Error
- - -
Net worth 12.9676711 18.4694034 25.5763519 Error Error
- - - - -
Total assets 7.06333985 2.67779976 2.70634878 36.7272836 24.4170647
76

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CONTENTS

2. TOPIC OF THE PROJECT 33

3. OBJECTIVES OF THE PROJECT 35

5. ANALYSIS & FINDINGS 39-67

 DARJEELING TEA ESTATE

POPULAR TEA LEAFS

 WHITE TEA LEAF

 GREEN TEA LEAF

 OOLONG TEA LEAF

 BLACK TEA LEAF

 PU-ERH TEA LEAF

ASSAM GOODRICKE DUNCANS JAY SHREE

INCORPORATION YEAR - 1962

OWNERSHIP - TATA GROUP

REGISTERED OFFICE - 1, BISHOP LEFROY ROAD,

TEL. NO.- - 22811807

LISTED ON - BOMBAY, CULCUTTA, LONDON, NATIONAL, UTTAR

R.K. KRISHNA KUMAR VICE CHANCELLOR

Y.H. MALEGAM DIRECTOR

D.B. ENGINEER DIRECTOR

F.K. KAVARANA DIRECTOR

U.M. RAO DIRECTOR

AMRITA PATEL (Dr.) DIRECTOR

P.T. SIGANPORIA MANAGING DIRECTOR

S. TALWAR (Ms.) EXECUTIVE DIRECTOR

D. K. SEN VICE PRESIDENT & SECRETARY

 Pre 1963 James Finlay

 1964 Tata Finlay established to develop value added Tea

 2000 Tata Tea acquires The Tetley Group Ltd., UK.

OWNERSHIP - MEHTA MAHENDRA GROUP

INCORPORATION YEAR - 1839

REGISTERED OFFICE - GREENWOOD TEA ESTATE,

TEL. NO. - 0373-2301051

LISTED ON -BOMBAY, CULCUTTA, GAUHATI,

DIRECTORS NAME DESIGNATION

A K JAJODIA MD & CEO

ABHAY CHAWDHRY DIRECTOR (FINANCE) & CFO

AMIR AHSAN EXECUTIVE DIRECTOR

SANTOSH BHAGAT DIRECTOR

PINTU KR AGARWALLA DIRECTOR

ARUP KUMAR ROY CO. SECRETARY

INCORPORATION YEAR - 1977

OWNERSHIP - GOODRICKE (F) GROUP

REGISTERED OFFICE - 'CAMELLIA HOUSE',14,

TEL. NO. - +91-33-22873067

DIRECTORS NAME DESIGNATION

A.N SINGH MANAGING DIRECTOR & CEO

B.N. GHOSH MANAGING DIRECTOR

K.S. DAVID MANAGING DIRECTOR

M.C. PERKINS NON EXECUTIVE DIRECTOR

A.K. MATHUR DIRECTOR

S. KAUL (Dr.) DIRECTOR

PRODOSH KUMAR SEN DIRECTOR

D.P. CHAKRAVARTI GM & SECRETARY

Companies Tea Estate (With Tea Factory) Location

DUNCANS INDUSTRIES LTD.

INCORPORATION YEAR - 1951

OWNERSHIP - GOENKA G.P. (DUNCANS) GROUP

REGISTERED OFFICE - 31, NETAJI SUBHAS ROAD, KOLKATA WEST

TEL. NO. - +91-33-2230062

DIRECTORS NAME DESIGNATION

G.P. GOENKA CHAIRMAN

R.K. BHARGAVA DIRECTOR

ASSAM GOODRICKE DUNCANS JAY SHREE