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Company Information

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ASIAN TEA EXPORTS LTD.

14 May 2021 | 12:00

Industry >> Plantations - Tea & Coffee

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ISIN No INE822B01017 52Week High 22 Book Value (Rs.) 34.90 Face Value 10.00
Bookclosure 19/12/2020 52Week Low 5 EPS 2.77 P/E 5.79
Market Cap. 16.05 Cr. P/BV 0.46 Div Yield (%) 0.00 Market Lot 1.00

History of Company

The company history sections lists out major chronological events that happened to the company.
YEAR EVENTS 1987 - Asian Tea & Exports Ltd. (ATEL) was incorporated on 11th February, in the name of "Sita Plantations Private Limited". The company was converted into a public limited company on 9th March, 1994. The company has been promoted by Hari Ram Garg and R N Bansal. The main objects of the Company is Tea Plantation & Tea Manufactures.

1993 - The Company's plantation area was increased to 100 hectares from 35 hectares. Besides plantation, the company also maintains nurseries for raising leaf cuttings through clonal planting and shade trees of different varieties.

1994 - The name of the company was changed to Asian Tea and Exports Limited and a fresh certificate of incorporation was obtained on 11th April.

- The Company entered into a Deed of agreement for acquiring balance 204 hectares to be registered in the name of the company.

- The Company undertook to set up a processing unit for manufacture of 11 lakhs kgs. of made tea per annum. The plant was to be set up on turnkey basis by Trademen Corporation, Calcutta.

1995 - 17,00,000 No. of Equity shares issued for cash at par to promoters. During September, the company issued 53,20,000 No. of equity shares of Rs 10 each through a Prospectus of which 11,15,000 shares reserved and allotted to promoters, associates, friends and relatives etc. Of the remaining the following: (1) 2,00,000 shares to 20th Century Mutual Fund; (2) 6,37,000 shares to Ind. Mutual Funds. Balance 33,48,000 shares issued to the public.

2003 -Company has received the Niryat Shree gold trophy for its tea exports in the fiscal 2001-02 from Ministry of Commerce Government of India.

2005 -Company has split its equity shares of Rs 10/- each into equity shares of Rs 1/- each.

2009 - Company has Signed a contract for export of tea worth 16 Million US Dollar from an overseas buyer for execution during the current year.The Company is a Government of India recognized Export House with business turnover in excess of Rs 100 crores.

2011

-Company have entered into an agreement for acquisition of wind Mill power generation unit of 0.6MW capacity - Suzlon make) located at Kutch, Gujarat at a price consideration of approx. Rs. 2.25 crores.

2012

-Company have acquired 50.16% shares of Asian Tea Company Private Limited at a price consideration of approx. Rs.1.12 crores.

2014

-Company have acquired 63.37% shares of Indong Tea Company Private Limited at a price consideration of approx. Rs. 1.80 crores.