Companies

Rising tea prices help Kanan Devan post record turnover in FY21

Our Bureau Kochi | Updated on August 19, 2021

KDHP has achieved a significant growth in sales of Ripple tea with more than 2 million kg primarily in Kerala

 

Improvement in tea prices has facilitated KDHP, the largest tea plantation company in South India, to achieve a record turnover of ₹429.82 crore in 2020-21, an increase of 19 per cent compared with the previous fiscal.

The profit after tax for the year was ₹25.62 crore with an EBITDA of ₹43.13 crore. The performance improved in FY21 primarily due to the improvement in tea prices due to shortfall in production.

KDHP, the makers of Ripple Tea, has disbursed 16 per cent bonus to its employees against 12 per cent in the previous year. It had declared a dividend of 12 per cent to shareholders against 6 per cent the previous year.

K.Mathew Abraham, Managing Director and CEO said, KDHP has achieved a significant growth in sales of Ripple tea with more than 2 million kg primarily in Kerala.

“We are aggressively planning to increase the B2C business and expanding branded tea sales in Tamil Nadu as well”, Abraham said adding that KDHP has also been focussing on modernisation and automation of its 16 factories

Published on August 19, 2021

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