Rossell India Ltd Share Price

History of Rossell India Ltd

Rossell India Ltd has diverse interests in Tea, Aviation and Hospitality. The company has three divisions, namely Tea, Aviation & Defence (Technology and Engineering) and Product Support Services (Aerospace). Presently, the Company engaged in the business activities like Cultivation, Manufacture and Sell of Bulk Tea. The Company owned six Tea Estates all located in Assam and Engineering and Manufacturing in Aerospace and Defense Services. Rossell India Ltd was incorporated on June 1, 1994 with the name Rossell Tea Ltd. In July 1, 1994, the company took over the Dikom, Nokhroy and Borahi Tea Estates, all located in the State of Assam, from Rossell Industries Ltd, the successor company of Jokai India Ltd. After corporate restructuring, Borahi T.E. was demerged and transferred to another c ...ompany, namely Jyoti Holding Pvt Ltd. The business of cultivation, manufacture and sale of tea is known as Rossell Tea Division of the company, as the company diversified into Aviation Industry and created a new division, Aerotech Services Division, which became fully operational from April 1 2006. The company also created another division namely Vankesh Avionics Technologies Division from October1, 2008. This division's special areas of activities are design, development and manufacture of various types of test rigs, aircraft looming and PCB assembly etc. In September 6, 2006, the Aerotech Services Division acquired 56.25% share capital of Sigma Microsystems Pvt Ltd, Hyderabad, which is engaged in the business of manufacturing, design and development of Avionics, Electronics and Aviation Equipment, thereby making that company a subsidiary company. Aerotech Services Division was instrumental in promoting a company Rossell Aviation Private Ltd, which became fully owned subsidiary of the company with effect from February 4, 2009. The company diversified into hospitality sector thereby investing in hotel projects by subscribing up to 40% of the equity share capital of various companies, who in turn are acquiring / constructing hotels. During the year 2009-10, Aerotech Services Division has successfully signed long term agreement with multi national companies for providing product support services for their equipments fitted on various aircrafts, helicopters and ships in India. The name of the company was changed from Rossell Tea Ltd to Rossell India Ltd with effect from April 19, 2011. In June 29, 2011, the company signed and executed a share purchase agreement with Skanda Aerospace Pvt Ltd, Hyderabad to sell and transfer the entire shareholding of 5,62,500 equity shares of Rs 10 each held by the company in Sigma Microsystems Pvt Ltd (Sigma) representing 56.25% equity share capital of Sigma. Thus, Sigma Microsystems Pvt Ltd ceased to be a subsidiary company. In September 2011, the company's wholly owned subsidiary company, Rossell Aviation Private Ltd entered into an agreement with CAE International Holding Ltd, Canada (CAE) for jointly undertaking the business of 'providing training solution in projects primarily related to the offset obligations in India for aerospace industry'. As per the terms of the agreement, CAE, agreed to subscribe to the 26% equity share capital in Rossell Aviation. During the year 2011-12, Vankesh Avionics Technologies Division was rechristened as Rossell Techsys in May 2011. Simultaneously, a new world class facility was setup in Bangalore, involved into customized engineering solutions. A new Division known as Rossell Hospitality was created from 1st December, 2011. The entire shareholdings of Sigma Microsystems Private Limited was divested and sold on 29th June, 2011 and consequently, Sigma Microsystems Private Limited have ceased to be a Subsidiary of the Company thereafter. The Company sold and transferred its entire shareholding in Lemon Tree Hotels effective on 30th April, 2012. The Company signed an agreement dated 20th April, 2012 with Dhunseri Petrochem & Tea Ltd., Kolkata to purchase and acquire their Namsang T. E., Dibrugarh, Assam as a going concern in June, 2012. Rossell Tea acquired two tea estates in the Financial Year 2012-13. Namsang T.E. located in Dibrugarh District of Assam, producing approx. 7 lakhs kgs. was acquired with effect from 18th June 2012. Kharikatia T.E. located in Jorhat District of Assam was acquired with effect from 1st November 2012. Rossell Hospitality (RH) first two outlets starting Indian Fast food Quick Service Restaurant (QSR) under the brand name 'Kebab Xpress' (KX) became operational at Connaught Place, in Delhi. The name of the subsidiary company namely Rossell Aviation Pvt. Ltd. was changed to CAE Rossell India Ltd. (CRIL) with effect from 11th July, 2012. During the year 2015, the Rossell Hospitality Division opened 3 more outlets of Kebab Xpress in NCR, which made a total of 9 operating outlets as on 31st March, 2015. During the year 2016-17, Kebab Xpress added three outlets, one each in Noida, South Delhi and North Delhi taking the total count to 13 outlets. Bokakhat Tea Estate, the smallest Tea Estate of the Company was sold and disposed as a going concern on and from 1st April, 2021. The Company has floated 'Rossell Techsys Limited' as its Wholly Owned Subsidiary on 6th December, 2022.