In a bid to diversify into tea and agri business, McLeod Russel India is reportedly in talks with several consultants. The company is expected to gather the responses from consultants in another three months’ period.
The plan to look for new avenues of growth is also being seen as a move to hedge against volatile weather and rain deficiency. The company has also taken up irrigation and water conservation projects in its gardens in Assam.
Among the possible new business avenues, branded packaged tea is seen as one of the probable areas where the company could make a foray.
Meanwhile, the company reported net loss of Rs 32 crore as againstRs 26.21 crore. Net sales for the quarter under review stood at Rs 99.38 crore compared to Rs 174.45 crore, dip of over 43 per cent.
Company Name | CMP |
---|---|
Tata Consumer Produc | 1102.90 |
CCL Products (India) | 580.00 |
Mcleod Russel | 25.29 |
Goodricke Group | 172.05 |
Jay Shree Tea | 101.70 |
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