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×

the methoni tea company Limited

150.00
-3.85 %
Scrip Name
METHONI TEA
ISIN No.
INE869D01014
PAN No.
AABCT3901H
Face Value
10
No. of Outstanding Shares
408,000
Market Capitalization
6.12 Crore

THE METHONI TEA COMPANY LIMITED SHARE


ABOUT THE METHONI TEA COMPANY LIMITED


THE METHONI TEA COMPANY LIMITED is engaged in the business of growing, manufacturing and selling of Black Tea. The Methoni Tea Estate spreads over 462 hectares. It is located near Kaziranga National Park in Golaghat, Assam.


Methoni produces the finest quality Assam Orthodox Teas. The company uses ideal mixes of seeds and clonal bushes. The company is continuously focusing on its product quality. The company strictly follows an aggressive uprooting and replanting program to grow highest quality crops.


The company has subscribed to Tea Research Association to carry out Research and Development Activities on Tea. The Association provides strong scientific support to the tea estate and tea cultivation practices.


The Equity shares of the company are listed on Calcutta Stock Exchange Limited.



INCORPORATION DETAILS


CIN

L15492WB1929PLC006618

Registration Date

19 December 1929

Category/Sub-category of the Company

Company Limited by Shares

Address of the Registered office and contact details

75-C Park Street, 1st Floor,

Kolkata 700 016

Tel. 91 33 22293241/7638

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

M/s Maheshwari Datamatics Private Limited,

23 R N Mukherjee Road,

5th Floor, Kolkata 700 001,

Tel. 2243 - 5029

 

PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to total turnover of the Company

Tea

0100

100%

 

BOARD OF DIRECTORS

Rajendra Prasad Bubna (Whole Time Director)

Anita Bubna (Non-Executive Director)

Prahalad Lal Jain (Independent Director)

Sona Goenka (Independent Director)

Sumit Bhartia (Chief Financial Officer)

Priyanka Mohta (Company Secretary)


PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

THE METHONI TEA COMPANY LIMITED does not have any subsidiary or associate company.

 

THE METHONI TEA COMPANY LIMITED SHARE DETAILS


Total Available Shares:

4,08,000

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE869D01014

Pan No.

AABCT3901H

Lot Size:

100 Shares

Current  Price:

Rs. 150

Current Unlisted Share Price:

Rs. 6.12 Crore


SHAREHOLDING PATTERN

(As on 31-03-2020)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

Anita Bubna (Promoter)

1,65,188

40.49%

2

Rajendra Prasad Bubna (Promoter)

83,000

20.34%

6

Public Shareholding

1,59,812

39.17%

 

Total

4,08,000

100.00%


INDUSTRY OUTLOOK

 

Tea is the most common drink throughout the country. The global tea production (excluding China) in the FY 2020 was at par with FY 2019. All India tea production during FY 2020 was 1,360.10 million kgs compared to 1,349.60 million kgs in the FY 2019. In January 2021, India produced 16.05 million kg of tea. The Indian tea market is estimated to be Rs. 26,000 Crores, with unbranded being 30-35% of the overall market value. 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 year 2017. India is the 4th largest exporter of tea after Kenya, China and Sri Lanka.


Black Tea is the predominant sub-category. Green Tea is estimated to be around 3% of the branded category and is growing at 12.5% annually. The tea produced in the country is almost sufficient to meet the internal domestic demands. 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.


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 ‘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 THE METHONI TEA COMPANY LIMITED (In Rs. Lakhs)

 

Particulars

FY 2021

FY 2020

FY 2019

FY 2018

Revenue from Operations

1,964.55

1,769.95

1,563.33

1,468.39

EBITDA

190.95

-63.89

-89.03

-114.67

Finance Cost

16.57

18.26

3.99

20.24

Depreciation

49.46

49.27

53.49

36.08

Other Income

60.67

156.86

17.77

59.69

Profit Before Tax and Exceptional items

185.59

25.44

-128.73

-111.3

Exceptional items

0

0

0

16.81

Total Tax

1.97

-11.92

14.84

17.09

Profit After Tax (PAT)

183.62

37.36

-143.57

-145.2

Earnings Per Share (EPS) (In Rs.)

45.01

9.16

-35.19

-35.59


BALANCE SHEET OF THE METHONI TEA COMPANY LIMITED                         (In Rs. Lakhs)

PARTICULARS

31st March 2021

31st March 2020

31st March 2019

ASSETS




NON CURRENT ASSETS




Tangible assets

365.28

325.28

320.4

Financial assets

155.17

0.03

262.83

Tax assets

64.93

59.3

41.17

Other noncurrent assets

156.81

141.83

143.89

TOTAL NON CURRENT ASSETS

742.20

526.44

768.29

CURRENT ASSETS




Inventories

131.39

123.63

148.83

Biological assets other than bearer plants

2.49

0

3.51

Financial assets

311.00

341

0

Trade receivables

12.24

31.04

0

Cash and cash equivalent

42.86

36.84

9.79

Other current assets

151.63

68.42

49.23

TOTAL CURRENT ASSETS

651.62

600.93

211.35

TOTAL ASSETS

1,393.82

1,127.38

979.64

EQUITY AND LIABILITIES




EQUITY




Equity Share Capital

40.80

40.8

40.8

Other Equity

573.21

402.17

367.65

TOTAL EQUITY

614.01

442.97

408.45

LIABILITIES




NON CURRENT LIABILITIES




Long term borrowings

0.00

0.38

4.71

Provisions

6.87

6.87

6.87

Other noncurrent liabilities

24.15

25.39

13.01

TOTAL NON CURRENT LIABILITIES

31.02

32.64

24.58

CURRENT LIABILITIES




Short term borrowings

246.85

207.26

82.64

Trade payables

98.20

101.61

153.54

Provisions

330.69

286.27

222.26

Other current liabilities

73.06

56.63

87.17

TOTAL CURRENT LIABILITIES

748.79

651.77

545.61

TOTAL LIABILITIES

779.81

684.4

570.19

TOTAL EQUITY AND LIABILITIES

1,393.82

1,127.38

978.64

 

DIVIDEND HISTORY

Particulars

2020

2019

2018

Dividend (final + interim) (In Rs.)

Nil

Nil

Nil

Retained Earnings (Consolidated) (In Rs. Lakhs)

-633.73

-671.10

-565.83

 

PERFORMANCE OF THE COMPANY

Revenue from Operations increased by 10.99% from Rs. 1,769.95 lakhs in FY 2020 to Rs. 1,964.55 lakhs in FY 2021.

 

EBITDA of the company incurred a loss of Rs. 63.89 lakhs in FY 2020. In FY 2021, the EBITDA of the company was a profit was of Rs. 190.95 lakhs.


The company earned a net profit of Rs. 183.62 lakhs in FY 2021 as against a profit of Rs. 37.36 lakhs in FY 2020, an increase of 391.49%.


Current Ratio of the company as of 31st March 2021 was 0.87. The company needs to improve its working capital management.


Debt to Equity ratio of the company as of 31st March 2021 was 0.40. Total debt on the company as of 31st March 2021 was Rs. 246.85 lakhs.


The company has not given any dividend from the past three years.


The book value per equity share of the company as of 31st March 2021 was                   Rs. 150.49.



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