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×

parry agro industries Limited

1,200.00
+ 0.00 %
Scrip Name
Parry Agro
ISIN No.
INE361N01011
PAN No.
AAFCP9414M
Face Value
10
No. of Outstanding Shares
3,756,816
Market Capitalization
450.82 Crore

PARRY AGRO INDUSTRIES LIMITED UNLISTED SHARE


About Parry Agro Industries Limited


Parry Agro Industries Limited is one of the leading producers of CTC, Orthodox, Organic and Green teas, in India, is a part of the Murugappa Group, which is one of India’s leading business conglomerates in India. The Group has 28 businesses including nine listed Companies traded in NSE & BSE.


Parry Agro Industries Limited was incorporated on 23 March 2011 and is registered at Registrar of Companies, Chennai. The main business of the company is the cultivation and manufacture of Tea. The company has estates across the best tea regions in India. In South India, its estates are spread across Sheikalmudi, Murugalli, Paralai and Iyerpadi, in the Annamalai Hills; Attikunna and Carolyn, in the Nilgiris–Wayanad region; and in Assam, at Deckiajuli, along the banks of the river Brahmaputra. These estates produce some of the finest Indian teas. Parry Agro estates spread over 3,210 hectares and produce around 14 million kilograms annually.


 The company is one of the pioneers in organic tea cultivation and is known for its sustainable cultivation techniques. The company has segregated buffer zones and zero-tolerance for anything inorganic, and use bio-nutrients and repellents, and practice natural pest-control methods.


With consistent quality Parry Agro is amongst the few plantation Companies in the world with a dedicated R&D, accredited with a NABL certification, for chemical and microbial testing facilities. Over the last five decades, the brand has been reputed as one of the premier tea growers has been well established across the globe.


INCORPORATION DETAILS


CIN

U01132TN2011PLC079800

Registration Date

23rd March 2011

Category/Sub-category of the Company

Company Limited by Shares /

Indian Non-Government Company

Address of the Registered office and contact details

Parry House, 5th floor, No.43, Moore Street,

Chennai -600 001.

Tel. : + 91 044 2530 6852

Fax : + 91 044 2535 8114

E-mail: secretarial@pai.murugappa.com

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

KFin Technologies Private Limited

(formerly Karvy Fintech Private Limited)

Karvy Selenium, Tower B, Plot No.31 & 32,

Gachibowli, Financial District, Nanakramguda,

Hyderabad - 500 032.

Tel : + 91 40 2342 0815 - 24

Toll-Free: 1 - 800 3454001

Fax : + 91 40 2342 0814

Email: einward.ris@kfintech.com

Website: www.kfintech.com

 

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to total turnover of the Company

Manufacturing and selling of Tea

10791

100%

 

BOARD OF DIRECTORS

Mr. M.M. Venkatachalam (Non-Executive Chairman)

Mr. Ramesh Rajah (Non-Executive Director)

Mr. Nandlal Ganguli (Independent Director)

Mr. Ramesh K B Menon (Independent Director)

Mr. T. Jayaraman (Independent Director)

Mr. A. Sridhar (Additional Director)

 

PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

Name of the Company

% of shares held

Ambadi Investments Limited

77.92%

 

PARRY AGRO INDUSTRIES LIMITED UNLISTED SHARE DETAILS


Total Available Shares:

37,56,816

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE361N01011

PAN No. 

AAFCP9414M

Lot Size:

25 Shares

Last Traded Price

Rs. 1200

Market Cap:

Rs. 450.82 Crore

 

SHAREHOLDING PATTERN

(As on 31-03-2020)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

AMBADI INVESTMENTS LIMITED

29,27,378

77.92%

2

M A M ARUNACHALAM

66,446

1.77%

3

A VENKATACHALAM

34,096

0.91%

4

A VELLAYAN

33,946

0.9%

5

OTHER PROMOTERS

4,93,646

13.14%

6

PUBLIC SHAREHOLDING

2,01,304

5.36%

 

Total

37,56,816

100

 

INDUSTRY OUTLOOK

India is the second-largest producer of Tea in the world. Not only that, but India is also a leading consumer of Tea. Indian Tea is considered to be the finest tea in the world. North East and North Bengal are known to be the main tea-growing regions of India. However, Tea is also grown in Nilgiris in South India at a very large level. Assam is the largest tea-producing state of India followed by West Bengal. South India accounts for 1/5th of the industry. India produces various varieties of Tea including CTC Tea, Orthodox Tea, Green Tea, etc.


Total Tea exports in FY 2020 stood at US$ 826.47 million as against US$ 830.90 million in FY 2019. India attained the highest exports of Tea in the year 2017. However, India does not export much in the case of Tea, as around 80% of the produce is consumed in the country only. India is the world leader in the production and consumption of tea for the last 150 years. India is the 4th largest exporter of tea after Kenya, China, and Sri Lanka. But in 2019, India became the 2nd largest tea producer in the world and produced around 1,339.70 million kg. India accounts for around 31% of the world’s production of Tea. In January 2021, India produced 16.05 million kg of tea.


The tea market is growing significantly in India. It is projected to grow at a CAGR of 4.2% from 2021 to 2026. Indian Government has established the ‘Tea Board of India’ in 1954. It performs developmental and regulatory functions of the tea industry in India. It also undertakes direct promotional activities for tea producers of India. 


PROFIT & LOSS STATEMENT OF PARRY AGRO INDUSTRIES LIMITED              (In Rs. Lakhs)

 

Particulars

2020

2019

2018

Revenue from Operations

17,378.19

18,010.82

17,894.54

EBITDA

160.06

712.73

912.26

EBITDA margin

0.92%

3.96%

5.10%

Finance Cost

50.24

1.80

27.65

Depreciation

539.48

506.85

468.48

Other Income

329.25

601.63

385.19

Profit Before Tax

(100.41)

805.71

801.32

Total Tax

103.32

301.35

233.03

Profit After Tax (PAT)

(203.73)

504.36

568.29

PAT margin

-1.17%

2.80%

3.18%

EPS

(5.42)

13.43

15.13

 

BALANCE SHEET OF PARRY AGRO INDUSTRIES LIMITED (In Rs. Lakhs)

PARTICULARS

2020

2019

ASSETS



NON CURRENT ASSETS



Tangible assets

4,591.36

4,558.06

Financial assets

1,026.09

1,002.74

Tax assets

105.63

136.95

Other noncurrent assets

186.37

28.36

TOTAL NON CURRENT ASSETS

5,909.45

5,726.11

CURRENT ASSETS



Inventories

2,042.04

1,836.41

Biological assets

50.01

34.91

Trade receivables

350.16

673.31

Financial assets

3,214.14

4,473.56

Cash and cash equivalents

244.25

126.64

Other current assets

411.47

283.44

TOTAL CURRENT ASSETS

6,312.07

7,428.27

TOTAL ASSETS

12,221.52

13,154.38

EQUITY AND LIABILITIES



EQUITY



Equity share capital

375.68

375.68

Other equity

7,930.54

8,743.90

Minority Interest

17.66

17.56

TOTAL EQUITY

8,323.88

9,137.14

LIABILITIES



NON CURRENT LIABILITIES



Lease liabilities

103.24

-

TOTAL NON CURRENT LIABILITIES

103.24

-

CURRENT LIABILITIES



Trade payables

1,677.08

1,915.12

Financial liabilities

144.96

86.07

Provisions

1,287.89

1,266.00

Tax liabilities

227.09

371.03

Other current liabilities

457.38

379.02

TOTAL CURRENT LIABILITIES

3,794.40

4,017.24

TOTAL LIABILITIES

3,897.64

4,017.24

TOTAL EQUITY AND LIABILITIES

12,221.52

13,154.38

 

DIVIDEND HISTORY

Particulars

2020

2019

Dividend (final + interim) (In Rs.)

Nil

2.5

 

PERFORMANCE OF THE COMPANY

Revenue from Operations decreased by 3.51% from Rs.18,010.82  lakhs in FY 2019 to Rs. 17,378.19 lakhs in FY 2020.

EBITDA of the company decreased by 77.54% from Rs. 712.73 lakhs in FY 2019 to Rs. 160.06 lakhs in FY 2020. EBITDA margins of the company decreased from 3.96% in FY 2019 to 0.92% in FY 2020.


Net Profit of the company decreased by 140.39% i.e. from Rs. 504.36 lakhs in FY 2019 to a loss of Rs.203.73 lakhs in FY 2020. PAT margins decreased from 2.80% in FY 2019 to -1.17% in FY 2020.


The current Ratio of the company as of 31st March 2020 was 1.66.


The debt to Equity ratio of the company as of 31st March 2020 was 0, as there was no debt.


Book value per share of the company as of 31st March 2020 stood at Rs.221.57.





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