Jay Shree Tea & Industries Ltd Share Price

History of Jay Shree Tea & Industries Ltd

Jay Shree Tea & Industries Limited (JSTI) originally incorporated as Jay Shree Tea Gardens in Oct.'45 with two tea estates, changed its name to Jay Shree Tea and Industries (JSTI) in 1960. It was promoted by B K Birla. Presently, the Company is engaged in manufacture of tea and chemical & fertilisers. Started with an initial paid-up share capital of Rs 7.86 lac, it was raised to Rs 39.05 lac in 1947 and thereafter only a rights equity issue was made during 1960 in the ratio 1:5. The company manages around 12 tea gardens in Assam, West Bengal, Tamilnadu and Kerala. It has diversified over the years and manufactures plywood in Andamans and superphosphates and sulphuric acid in West Bengal; and has interest in shipping, real estate development, tubes and tyres. The company is packing it ...s tea from different tea estates, in polypouches and it is sold under brand names -- Sadabahar, Shaandar and Sangam. JSTI also acquired Maitrayee Tea Project at Chopra near Islampur with 192 acres under tea plantation to increase its presence in the area. During 1999-2000, the company established a new factory named 'Aryaman Tea Estate' in Jalpaiguri Dist, which has commenced production from Sep, 1999. The factory has the capacity of 7 lac kgs made tea per annum. In June 2000, the B K Birla group's shareholding in Jay Shree Tea & Industries has gone up to 44.61% from 40.15% following the completion of the company's buy back offer for 12.30 lakh equity shares. The company bought back 12.30 lac equity shares of Rs.10/- each at a price of Rs.120/-per share in 2001-02 and subsequently the total Share Capital as on March 2002 was Rs.10.67 crores. The tea processing factory which is being set up at Ledo,Assam has commenced its commercial production with a annual capacity of around 6 lac kg. As the Supreme Court has banned the falling of trees in Andaman & Nicobar Islands,the company's Plywood Operation is still under suspension. The 100% subsidiary company viz Shiva's Group Ltd was amalgamated with the company with the prior approval from the shareholders w.e.f 25.02.2002. During the year 2003, the Company acquired 100% of the paid up share capital of Siddhi Binayak Tea Ltd. thereby making it a subsidiary. Shiva's Group Ltd. and Siddhi Binayak Tea Ltd., the wholly owned subsidiaries, were amalgamated with the Company in year 2004. During 2011, the Company amalgamated its subsidiary, M.P. China Industries Ltd (MPCIL), having a sugar mill of 5000 TCD at Majhaulia in the State of Bihar effective from 1.10.2011. Further, the Parvati Tea Factory at Makum, Assam got demerged from its subsidiary, Parvati Tea Co. Ltd. (PTCL) and amalgamated effective from 1st April, 2010. Similarly, the long term investments held by the Company under Strategic Investment Division with corresponding reserves was transferred to and vested in PTCL effective from 1st April, 2010. The Company demerged its sugar operations into a wholly owned subsidiary (WOS), Majhaulia Sugar Industries Private Limited with effect from 1st April, 2016. During the year 2021-22, Majhaulia Sugar Industries Private Limited (MSIPL), a wholly owned subsidiary was amalgamated with the Company effective from 1st April, 2020. With the sale of shares, North Tukvar Tea Co Ltd ceased to be a subsidiary of the Company in 2023.