All about "Andrew Yule" :

• ·         Founded in 1863 by Mr. Andrew Yule, a Scot and his nephew David in Kolkata.
• ·         It was once India’s largest agency managing companies in India, managing 50 business verticals including Coal, Cotton, Jute, Power, Paper, Tea, Shipping, Insurance etc. It managed almost any organized business of interest to the British.
• ·         Headquartered even today at Yule house built in 1907 in Kolkata. It still carries the Yule coat of arms and its moto “Per vim et virtutem” (By strength and valour).
• ·         Post independence Andrew Yule’s business dwindled since the focus shifted to self- reliance (Swadheshi).
• ·         The 1969 amendment to the companies act was a death-blow to companies managing agencies. Andrew Yule along with Balmer Lawrie came under the direct control of Govt of India.
• ·         In 1979, Andrew Yule was nationalized when Mr.Bhaskar Mitter was its Chairman.
• ·         Thanks to PSU culture and strong employee union, Andrew Yules decent continued.
• ·         Post 1979 Andrew Yule had strong business with Soviet Union on a G to G basis.
• ·         In 1988 half of networth was washed away.
• ·         In 2003, its networth was negative accounting for assets only at book value.
• ·         Turned sick in 2003 and rushed to Board for Industrial Restructuring (BIFR).
• ·         Accumulated loss was Rs.432 Crores.
• ·         BIFR revival package approved in 2007, with Rs.112 Cr Bank Gurantee by Government, conversion of Rs.122 Crore loan by Govt into equity and waiver of interest and government guarantee fees.
• ·         In 2008 the company made marginal net profit of Rs.9 Crores. Since then the company has grown at a CAGR of 2.34%. March 2014 net profit is Rs.22.29 Cr Vs Rs.11.35 Cr in March 2013.
• ·         In 2010 Andrew Yule paid back restructuring loan of Rs.87 Cr to government through disinvestment of Phoenix Yule Ltd and Dishergarh power supply company to SREI for Rs.122 Cr.
• ·         At present Andrew Yule has 3 business verticals : Tea, Electricals and Engineering apart from a wholly owned printing subsidiary at Hooghly.
• ·         Tea contributes 50% of turnover from 15 tea estates – 10 in assam, 5 in Dooars, 1 in Darjeeling, producing high grade CTC as wel as orthodox to specialty and organic Teas.
• ·         MIM Tea estate spread across 190 hectares is nestled at an altitude of 2000 – 6000 ft is one of the highest yielding gardens in Darjeeling. This estate strictly follows the stringent parameters set by different countries for organic tea production like JAS, USFDA, ETP and HACCP. Harrods store in London carries Yule tea in rosewood chests and tin caddies as part of its premium range.
• ·         To increase its production capacity, Andrew Yule has filed expression of interest with Assam government to become strategic investor in 3 ailing tea gardens – Cinnamara, Sycotta and Deepling – belonging to Assam Tea Corporation, with productionof Rs. 1.5 millon kg of black tea per year. Similarly it Andrew Yule has sent EOI to West Bengal Govt to take management control of 2 tea estates in Rangaron and Pandam producing 1 million kg of tea.
• ·         After setting tea division in order, Andrew Yule is now busy reviving its other 2 business verticals – Electricals and Engineering. Has 2 manufacturing facility in Chennai and Kolkata. Plans to invest Rs.150 Crore in 2^nd plant at Chennai. Has set a target for its transformer business at Rs.500 Crore from Rs.110 Crore in 5 years.
• ·         Andrew Yule has 26% stake in Tide Water Oil – lubricant manufacturer in India. Tide water was set up in 1993 with Mitsubishi il and later amalgamated with JX Nippon Oil and Energy Corporation – the biggest oil company in Japan.