Andrew Yule & Company Limited
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BSE Code:
526173
NSE Code:
ANDREWYU
Business Profile
Business Profile
Incorporated on May 26, 1919, Andrew Yule & Co was established for the purpose of acquiring and continuing the managing agency business of Andrew Yule & Company. Primarily involved in manufacturing activities, the company at present has eight units which manufacture industrial fans and tea machinery, HT, electrical equipment, contractors, overload relays, moulded case circuit breakers, power distribution transformers, switchgears, conveyor belts, fans & V-belts, air pollution control equipment and production of tea. The engineering division is located at Kalyani in West Bengal, the electrical division at Chennai, the tea division in West Bengal and a business development group. Andrew Yule has technical collaboration agreements with BETHE, West Germany and Davidson & Company.
Financials
The company narrowed its loss from Rs 226.30 million for the quarter ended Sep. 2005 to Rs 96.63 million in the quarter ended Sep. 2006. Sales for this period had increased 23.33% to Rs 388.65 million from Rs 315.14 million. The company for the year ended Mar. 2006 narrowed its loss from Rs 754.36 million in FY05 to Rs 740.73 million FY06. Net sales for this period had declined 4.08% to Rs 1,123.29 million as against Rs 1,171.08 million.
Recent Developments
The government decided to call off the sale of its stake in auto lubricants maker, Tide Water Oil, a subsidiary of Andrew Yule, to Oil and Natural Gas (ONGC). The sale of government equity in Tide Water is part of a plan to revive its parent company.