Lykis Ltd Company Summary

Lykis Ltd Summary

Lykis Limited (Formerly known Greenline Tea & Exports Ltd) was incorporated on October 15, 1984. The Company is engaged in business of export of FMCG, Cosmetics and other products. Prior to this, it was into the business of cultivation and marketing of tea.In 1995-96 the company undertook various expansion and diversification projects by way of increasing the plantation areas and setting up a packaging unit. During 1999-2000, the demand for tea suffered a great setback resulting in less realisation coupled with the uncontrolled cost inflation, but inspite of all such deterrant adverse forces the company managed a marginal profit.The Company changed its name from Greenline Tea & Exports Limited to Lykis Limited effective from May 17, 2012. Thereafter, the Company acquired shares of Lykis Pharma Limited and Jin-X Marketing Pvt Ltd. It promoted Jin-X Marketing Pvt Ltd by subscribing to 4800 shares of the Company on April 27, 2012. It further purchased 200 shares amounting to a total holding of 50% in the Company and Jin-X Marketing Pvt Ltd became a subsidiary of the Company from August 1, 2012. Similarly, it purchased 75000 shares of Lykis Pharma Pvt Ltd amounting to 75% holding in the Company and thus, Lykis Pharma Pvt Ltd also became a subsidiary of the Company from August 1, 2012.In 2013, the Company diversified and expanded the business by venturing into FMCGs business including Food, Pharma and Cosmetics alongwith Tea resulting a huge increase in turnover. In 2017-18, it sold of its all shareholding held in Lykis Confectioners Private Limited, Lyfresh Private Limited and Lykis Soaps Private Limited on July 02, 2018, August 01, 2018 and August 16, 2018 respectively consequent upon which these company ceased to be the Associate companies.