Companies

Kanan Devan Plantations registers ₹3.8-cr profit

Our Bureau Kochi | Updated on September 26, 2019

Chai Bazaar retail outlets helped achieve better price realisation   -  The Hindu

Kanan Devan Hills Plantations Company Ltd (KDHP), an associate of Tata Global Beverages and the largest tea plantation company in South India, has improved its performance in 2018-19 despite natural calamities.

Addressing the 14th annual general meeting, K Mathew Abraham, Managing Director and CEO, pointed out that unprecedented floods and severe frost damage had resulted in damages to properties and affected production. However, the company managed to perform well with timely management interventions, including strict control over costs and expenditure.

Its new Chai Bazaar retail outlets helped achieve better price realisation and its Ripple Tea brand and other value-added products recorded sales growth.

The company disbursed 12 per cent bonus to employees for the year ending March. The annual accounts for the year ended March 31 was approved by shareholders, along with 8 per cent dividend for the year.

In 2018-19, KDHP achieved a PAT of ₹3.79 crore as against ₹48 lakh in the previous year and an EBITDA of ₹23.79 crore (₹16.92 crore). The turnover for the year was ₹358.96 crore (₹346.03 crore).

According to Percy Siganporia, Chairman, the company is bracing for one more challenging year with increased wages and low auction prices, but he hoped that the proactive steps being taken by the management would take it through the year.

Published on August 29, 2019

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