Assambrook Ltd was incorporated in the year 1947. It was formerly known as Brooke Bond Estate Ltd. and changed its name to Assambrook Estate Ltd. in 1969; and then again in the year 1982 it got its present name to Assambrook Ltd.
Vineet Udyog Ltd, Vineet Exports Ltd, and Assambrook Investments Ltd were the wholly-owned subsidiaries of the company.
The company engages in growing and cultivating tea plantation, as well as manufacturing tea in India.
History of the company:
1947: The company was incorporated at Calcutta. The company carries on the business of growing and cultivation of tea plantation and manufacturer of tea.
Preference shares issued at a premium price of Rs 7 per share.
1969:
The name of the company was changed from Brooke Bond Estate Ltd to Assambrook Estate Ltd, with effect from November 1.
1976:
3,50,000 bonus equity shares issued in proportion of 1:1.
1982:
With a view to reorganising the Dhullie factory in the company's Group `B' estates, a major expansion/modernisation program was taken up.
1983:
With effect from May 30, the name was again changed from Assambrook Estates Ltd to Assambrook Ltd.
1984:
- A major expansion/modernization programme was taken up during the year. An extensive irrigation programme was also taken up with a view to bring major part of the area under irrigation.
- Handling capacity of this factory was substantially increased and it was equipped for dual manufacture of orthodox and CTC teas.
- At an extra-ordinary general meeting of the company on June 23, the shareholders approved the issue of 35,000-15%non-convertible bonds of Rs 100 each in exchange and cancellation of 35,000-6% cumulative preference shares of Rs 100 each and consent of the CCI was also received for the issue of the bonds. These were allotted on January 1, 1986.
- 7,00,000 bonus equity shares issued in proportion of 1:1. Preference shares were exchanged for non-convertible bonds.
1986:
7,00,000 rights shares issued (Premium of Rs 10 per share; proportion of 1:2). Only 5,27,206 shares were taken up.
1988:
The company launched blended tea operations in domestic market.
The company entered into an agreement for acquisition of four tea gardens in the state of Kerala.
1990:
The company launched its blended tea in polypack under the brand name Mahak in North India.
1993:During March, the company allotted 4,82,134 fully convertible debentures on right basis to the existing shareholders.
Each debenture was automatically converted into five equity shares of Rs 10 each at a premium of Rs 40 per share within six months from the date of allotment.1994:
Negotiation was on with Orissa Mining Corporation for identification, selection and allotment of suitable granite mines.
24,10,670 equity shares allotted at a premium. of Rs. 40 per share on conversion of FCD.
1995:
Operations were adversely affected due to unfavourable climatic conditions in the form of early drought followed by uneven distribution of rain which retarded growth of crops.
1996:
Performance of the company was affected due to poor price realisation and higher input costs.
The company's plants are located in Dhullie (Assam), Tinkharia (Assam), Cherakara (Wayanad, Kerala), Jessie (Wayanad, Kerala), Talapoya (Kerala, Wayanad), Tatamala (Kerala, Wayanad).
In the year 2000, the company declared a lock-out at its Mananthavady Group comprising of Talapoya,Cherakara, Tatamala & Jessie Tea Estates in Wynaad District of Kerala.
