Asian Tea & Exports Limited
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BSE Code:
519532
NSE Code:
ASIANTNE
Business Profile
Business Profile
Asian Tea & Exports (ATEL) was incorporated in the name of `Sita Plantations`. The company is engaged in tea plantations and tea manufacturing.
The company increased its plantation area to 100 hectares from the previous 35 hectares. Besides plantation, the company also maintains nurseries for raising leaf cuttings through cloned planting and shade trees of different varieties.
The company had set up a processing unit for manufacturing 11 lakh kilograms of made tea per annum. The plant was to be set up on turnkey basis by Trademen Corporation, Calcutta.
The company is one of the largest exporters of tea to Kazakhstan and Middle East. It also exports tea to other countries, namely, Russia, Iran, UAE, Iraq, Uzbekistan, Pakistan, Afghanistan, Egypt, Saudi Arabia, Germany, USA, Kenya, Sri Lanka, Hongkong, UK, and Japan.
Financials
The company registered net sales of Rs 507.1 million for the financial year of 2006 as compared to Rs 545.98 million in the previous year.
The company registered a net profit of Rs 4.06 million in the financial year of 2006 as compared to Rs 1.47 million in the previous year.
During the third quarter of the financial year 2007 the company generated sales of Rs 136.18 million as compared to 97.63 million in the third quarter of the financial year 2006 and the net profit stood at Rs 1.96 million as compared to Rs 1.54 million in the third quarter of the financial year 2006.