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Jay Shree Tea & Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1945 - The company was incorporated at Calcutta. This company carries
on the business of tea plantations purchase and sales of teas
within India, as well as export of teas, warehousemen for sorting
teas, manufacture of all types of decorators plywood, blackboard,
flush doors plywood packing cases of all types known as timber
packing, products & manufacture of chemicals & fertilisers.

- The company also owns tea warehouse in Calcutta for storing teas,
two plywood factories viz. Woodcrafts Assam in Mariani & Jayshree
Timber products in Bakultala & a factory for manufacturing
chemicals & fertilisers in Khardah.

1958 - In May, Woodcraft (Assam) Ltd., a Company registered in Assam for
production of polywood and manufacture of tea chests was
amalgamated with the Company and the name of the factory at
Mariani was changed to Woodcrafts Assam.

1959 - The Company set up a super phosphate and sulphuric acid plant
with the capacity of 100 TPD and 50 TPD respectively at Khardah
near Calcutta with the financial assistance of United Commercial
Bank Ltd.

1960 - The Risheehat Tea Co., was amalgamated with the Company with
effect 1st January, by an Order of Calcutta High Court.

- With effect from 27th June, the name of the Company was changed
from Jay Shree Tea Gardens Ltd., to Jay Shree Tea and Industries
Ltd.

1962 - Capital structure reorganised. In October, 29,156 'B' Right
Pref. shares offered at par in the prop. 1:3 Equity.

1963 - 24,886 'B' Pref. shares remaining unsubscribed out of the 1962
issue offered for public subscription. Issued 2,18,666 Bonus
Equity shares in the prop. 1:4.

1966 - 2,18,666 Bonus Equity shares issued in prop. 1:5. 25,000 'C'
Pref. shares issued at par for public subscription. The 'C'
Pref. shares are redeemable at par on 31st December, 1978.

1968 - In August, 3,27,999 Bonus Equity shares issued in the prop. 1:4.
5-9.3% 'B' Pref. shares forfeited for non payment of calls. 9%
Pref. shares redeemed during 1969.

1973 - 9.3% 'B' Pref. shares redeemed on 30th June. 25,000-9.3% 'C'
Pref. shares were redeemed. 5,46,665 Bonus Equity shares issued
in the prop. 1:3.

1975 - Jay Shree Exports Ltd., was a fully owned subsidiary of the
Company. On 28th April, Calcutta High Court sanctioned the
proposal to amalgamate this subsidiary with the Company with
retrospective effect from 1st October, 1974.

- JSTI Investment Ltd., & Sungma Tea Company Ltd. are subsidiaries
of the Company.

1976 - The Jay Shree Shipping division was established during the year.
Two second hand ships were acquired.

- 5,46,665 Bonus Equity shares issued in prop. 1:4.

1977 - With effect from 1st February, the Company took on leave and
licence and cycle tyres and tubes unit of Universal Tyres Ltd.,
situated at Naini, Allahabad.

1980 - Authorised capital increased. 13,66,662 Bonus shares issued in
the prop. 1:2.

1981 - The Company received permission to increase the installed
capacities of sulphuric acid and superphosphate by 33,000 tonnes
and 66,000 tonnes respectively per annum.

1984 - Extensive steps were initiated to modernise and develop the tea
estates.

- With effect from 1st March, the Company acquired the chemical
undertaking of M/s. Rallis India Ltd., located at Magarwara, U.P.
The Jay Shree Fertilisers & Chemicals unit has the licensed
capacities of sulphuric acid, superphosphate, hydro sulphite of
soda and sodium silico fluoride of 25,000 tonnes, 72,000 tonnes,
1,300 tonnes and 350 tonnes per annum respectively.

1985 - 20,49,993 Bonus shares issued in prop. 1:2.

1986 - Due to poor off-take of cycle tyres and tubes since the middle of
the year and intense competition, the Company had to close the
Jay Shree Tyres & Rubber Products effective from 2nd November.
The closure declared is still sub-judice in the Allahabad High
Court.

- In order to raise funds for modernisation and for normal capital
expenditure, the Company issued 15% secured redeemable
non-convertible debentures of the aggregate value of Rs 25 crores
as rights to Indian resident shareholders in the ratio 2
debentures: 5 equity shares. These debentures are redeemable at
a premium of 5% after the expiry of the 7th year from the date of
allotment viz. 1st September.

- The Company proposed to issue non-convertible debentures
aggregating Rs 15 crores on private placement basis.

1987 - The Company was compelled to declare a lock-out from January on
account of serious labour trouble. The lock-out was lifted in
May.

- The New Superphosphate Unit at Haryana remained closed due to
glut and drought conditions in the region.

1988 - The Company was forced to declare a lock-out in the Jay Shree
Fertilisers & Chemical unit from 5th September. During 1989 the
unit was permanently closed.

1989 - The Company was forced to declare a lock-out effective from 1st
March. The Andaman unit was affected by severe competition.

- The Company undertook estate development activities as a measure
of diversification.

1990 - M.V. 'JAY AMBIKA' vessel was scrapped and sold during the year.
Another vessel M.V. 'JAY GAYATRI' was thoroughly repaired to
operate it economically for some years.

1991 - Tea from Upper Assam, Cachar and South India estates were packed
in polypouches of 250 gms. and 100 gms. under the brand name
'Sadabahar' and 'Shaandaar'.

- Renovation and modernisation programmes in the factories as well
as development programmes in the fields were conducted.

- The working of the units at Khardah was seriously affected by a
ceiling imposed on subsidy, which was subsequently amended. The
working of the Unit III at Pataudi, was also affected by frequent
shut downs owing to the subsidy imposed.

- Installation of Turbo Generator to generate own power by
utilising steam from Sulphuric acid plant of unit II DCDA system
for optimisation of production were expected to be commissioned
shortly.

1992 - The polypouch sales were brought under the banner 'Birla Tea'.
For administrative convenience, Liza Hill tea estate was merged
with Risheehat tea estate.

- The company entered into the new markets particularly in the
Republic of erstwhile USSR and Iran.

- Some balancing equipments were added to achieve stabilisation in
production, control cost and bring about improvement in quality.

- At the Palaudi unit, the working was affected by the sharp
increase in prices subsequently to decontrol, leading to poor
offtake and consequent shutting down of the unit from time to
time. The working of the unit at Gurgaon was adversely affected
by decontrol of phospatic fertilisers.

1994 - The Company entered into an agreement with Kesoram Industries,
Ltd. and others to jointly run the tyre factory at Balasore,
Orissa for an initial period of 3 years. It has a stake of 10%
in the joint venture.

- During the year 15,00,000-17.5% Non-Convertible Redeemable

Debentures aggregating to Rs. 15 crores were issued on private
placement basis.

1995 - The Company completes 50 years of its existence on 26th October,

- New brand of tea was launched during the year under the name and
style of 'SANGAM-a Birla Product.'

- Severe drought in Assam, Darjeeling and South India during March
has adversely affected tea production.

1996 - 'Birla Tea' was launched in new colour combination pouches in the
new year in Orissa.

- The plywood unit in Assam was closed since December 24 last
following an interim order of the Supreme Court on the closure of
plywood units located in the state.

1997 - The Khardah unit has received ISO-9002 for production and sale
of sulfuric acid, super phosphate (powder and granulated) and
granulated mixed fertiliser from KPMG Peat Marwick LLP, USA.

- The company has received the ISO 9002 certification for its two
tea estates at Sholayar and Kallyar in Coimbatore district.

- Jayshree Tea and Industries Ltd (JTIL), a B K Birla group company
is considering amalgamation of three of its subsidiaries with it
viz., the two tea companies-Sungma Tea and North Tukvar Tea-and
JSTI Investments Ltd.

- The company also launched new brand of teas Birla tea for the
first time in Orissa during the year.

1998 - Jayshree Tea has declared a bonus of 1:1.

- Jay Shree Tea and Industries Ltd has decided to permanently close
down its plywood unit at Mariani in Assam and transfer its plant
and machinery to the company's other plywood unit at the Middle
Andamans.

1999 - BK Birla flagship Jay Shree Tea & Industries Ltd (JTIL) has
decided to set up two factories in the north Bengal tea belt
where the company is seeking additional land for expansion of tea
cultivation.

- All the five Cachar gardens have secured ISO-9002 certification.

2000 - It has set up a factory in Dooars in North Bengal with a capacity
of one mkg of made tea.

- Jay Shree Tea & Industries Ltd, a B K Birla group company, has
decided to buyback 12.3 lakh shares under tender offer method at
a fixed price of Rs 120 per share.

- The company has decided upto 12,30,000 No. of equity shares of Rs
10/- each constituting 10% of the total paid up share capital of
the company from the shareholders at a maximum price of Rs 140/-
per equity share.

2001 - Basant Kumar Birla group company Jay Shree Tea & Industries has decided to buy
back 10 per cent of its shares from the shareholders at a maximum rate of rs 75 a share.


2004

-Jay Shree Tea takes over Bajoria owned Singbuli estate

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