APEEJAY SURRENDRA CORPORATE SERVICES LIMITED
(FORMERLY APEEJAY SURRENDRA CORPORATE SERVICES PRIVATE LIMITED)
ANNUAL REPORT 2009-2010
MANAGEMENT DISCUSSION AND ANALYSIS
REVIEW OF OPERATIONS:
The operations of the Company, i.e., the merged entity during the year
resulted in a Profit before Interest, Depreciation and Taxation of Rs 6391
lacs. The Profit after taxation for the year was Rs 4348 lacs.
During the year the Plantation division of the merged entity manufactured
226 lac kgs of tea. The average Price realization was Rs. 120.86 as against
Rs. 101.71 in the previous year. Weather condition was favourable
throughout the year though end season was not as conducive as expected. The
production of Orthodox Tea increased to 19.90 lac kgs as against 6.23 lac
kgs in the previous year. The Company continued to give emphasis on
sustainable agricultural practices with the objective to improve yield and
quality of tea.
At present two Gardens of the Company, Budlabeta & Khobong are Fairtrade
certified and steps are being taken to obtain the Rainforest Alliance
certificate for the Group.
Your Companys focus has always been to produce quality teas, which
commanded a premium both in the domestic and international market. Feedback
received from the buyers in terms of quality was satisfactory. The
Uprooting and Replanting Policy of your Company has proved to be a success
also. The Company has been availing of the Tea Boards incentive schemes
for quality upgradation and for replanting/rejuvenation of the tea bushes.
The Packaged Tea and Fruit Infusion division is also very confident to play
a significant role in the present competitive market.
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