James Warren Tea Ltd

James Warren Tea Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 89.29 Crore) operating in Tea / Coffee sector. James Warren Tea Ltd. key Products/Revenue Segments include Tea which contributed Rs 114.63 Crore to Sales Value (98.72 % of Total Sales), Export Incentives which contributed Rs 1.34 Crore to Sales Value (1.15 % of Total Sales), Tea Waste which contributed Rs .09 Crore to Sales Value (0.08 % of Total Sales) and Other Operating Revenue which contributed Rs .05 Crore to Sales Value (0.03 % of Total Sales)for the year ending 31-Mar-2018. For the quarter ended 31-03-2019, the company has reported a Standalone sales of Rs 10.61 Crore, down -77.84 % from last quarter Sales of Rs 47.87 Crore and down -9.61 % from last year same quarter Sales of Rs 11.73 Crore Company has reported net profit after tax of Rs -13.63 Crore in latest quarter. The company’s top management includes Mr.Abhiram Kastur Sheth, Mr.Akhil Kumar Ruia, Mr.Anil Kumar Ruia, Mr.Arup Kumar Chowdhuri, Mr.Raghav Lall, Mr.Sudeep Kumar, Mrs.Sucharita Basu De. Company has Singhi & Co. as its auditoRs As on 31-03-2019, the company has a total of 9,300,804 shares outstanding. The financials of the company are zig-zag, RoCE is around 3.55% and at CMP its looks fully priced. Price difference is around 13% and acceptance ratio as per current share holding for retail will be around 32% and after announcement of buyback possibility of retail holding will increase. So expected acceptance ratio would be above 50%. So we give NEUTRAL rating to this buyback.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal