Bengal Tea & Fabrics Ltd Share Price

History of Bengal Tea & Fabrics Ltd

Bengal Tea & Fabrics Limited (BTFL), promoted by B D Kanoria was incorporated in July, 1983 and is engaged in manufacture and sale of Black Tea, Cloth and Yarn. Company is a subsidiary of Rydak Enterprises & Investment Limited, Promoter with a holding of 50,60,870 equity shares i.e. 56.19% of the total Share Capital of the Company. At present, Company has interest in the business of Tea, Textiles & Real Estate. BTFL made public offer of 1.2 lac equity shares in May 1984. Bengal Tea Industries was amalgamated with BTFL with effect from Apr. 1985. The tea division of the company for its Black Tea production get the Green tea leaves from it's own plantations. In the beginning the company had only three tea estates, namely, Pallorbund Tea Estates, Dooloogram Tea Estate and the Poloi Tea ... Estate, all in Assam. But later in 1970, the Ananda Assam Tea Co. Ltd having five tea estates was amalgamated with the company, In the year 2000 the company has sold the Pallorbund and Dooloogram Tea Estates thus leaving the company with only Ananda Tea Estate, It markets its tea under the brand name Classic Gold and Pallorbund. BTFL's Textile division come into existence by way of erstwhile Bengal Tea's diversification into textiles by taking over of the Ahmedabad based Asarwa Mills in 1976, thus making it it's subsidiary, In 1977, the Asarwa Mills was amalgamated with the erstwhile Bengal Tea and accordingly, Bengal Tea changed its name to Bengal Tea & Industries Ltd in the same year. And again in 1987, the Bengal Tea & Industries was amalgamated with this company. Apart from the Asarwa Mills, a composite mill located at Ahmedabad, the company had an Industrial Yarn unit and an spinning unit(Asarwa Overseas) at GIDC Estate and Walthera Village at Dholka(Near Ahmedabad) respectively. Presently (as on 2000-01) the company has an installed capacity of 98 looms and 50184 spindles to produce cloth and yarn respectively. The Asarwa overseas spinning unit(set up under EPCG scheme) having the capacity of 18144 spindles to manufacture cotton/blended yarn for export has commenced commercial production in November 1994 with 13104 spindles, the rest were installed in January 1995. The company has also plans to increase the capacity of Asarwa Overseas from 18,144 spindles to 24,192 spindles to enable the textile division to successfully execute the growing export enquiries for its products. Later it expanded the installed capacity of this unit by 6048 spindles in 1996. Further, it proposes to modernise the other two units at Ahmedabad and Dholka and has also increased the installed capacity by 1728 spindles at it other two textile units in 1996. During the year 1998-99, the Textile division of the Company replaced 1008 spindles with balancing preparatory machinery and added autoconers and a D.G. Set. Implementation of modernisation project with financial assistance from IDBI and IFCI, at Asarwa Mills, Ahmedabad is progressing smoothly in accordance with the schedule. 12624 spindles have been replaced with balancing preparatory machines with autoconers and generation of power by installation of 4.1 MW Power Plant is expected to commence from August, 1999. To become self reliant and ensure uninterupted power supply, the division has set up 1 No. 4.1 MW F.O. base captive power generation plant in August' 1999. During the year 2007, the Textile Division started commercial production on Jan'29, 2007. In 2014-15, the said Division installed 4800 spindles with auto doffing system by replacing old spindles. It also installed quality control equipment AFIS PRO2 with latest technology which is used to test jey parameters of processes of spinning process. Back Process machines like speed frames, draw frames, combers, cards and auto conner machines were installed in the Spinning Department by replacing old machines. In 2016-17, the Textile Division installed 1400 Kgs/hour Jet Dyeing Machine in Fabric Process Department replacing old model of 200 Kgs/hour Jet Dyeing Machine. In 2017-18, Rydak Enterprises & Investment Limited, Samrat Industrial Resources Limited and Eskay Udyog Limited, Promoter Group Companies got amalgamated into Rydak Enterprises & Investment Limited as per the Scheme of Amalgamation resulting in current holding of 5060870 equity shares which is 56.19% of the total Share Capital of the Company. As a result, the Company became a subsidiary of Rydak Enterprises & Investment Limited.