| Excerpt of Chairman’s speech in Annual Report 2008 |
Our sales increased 21.29% to Rs. 1,842.54 million in 2008, compared with the previous year owing to an increase in revenue from the tea and oil businesses. |
| Our cash profit increased 78.32% to Rs. 242.56 million in 2008. |
| Our net profit increased 19.21% to Rs. 101.94 million in 2008. |
Our tea business continued to be the mainstay of our business, contributing 82% to our topline. This business grew 6.53% over the previous year, not entirely from an increase in average realisations but also through growing yields and acreage. |
Our oil and gas business contributed 13.23% of revenues, led by a 193.44% increase in production. |
Entered into an MoU with the Gujarat State Petroleum Corporation to form a wholly-owned subsidiary Gujarat Hydrocarbons and Power SEZ Ltd (GHAPSL), which would set up an SEZ in Gujarat to cater to export-oriented industries in the oil and gas sectors. |
