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Neelamalai Agro Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1943 - The Company was incorporated at Coimbatore. The main object of
the Company is Cultivation of tea. The estates are situated in
Nilgiris and Coorg at an average elevation of 5000 feet.

1964 - Wooligooly Coffee estate was disposed at a profit of Rs 6,28,378.

1979 - Effective from 30th May, the name of the company was changed from
Neelamalai Tea & Coffee Estates Ltd., to Neelamalai Tea & Coffee
Estates & Industries Ltd. It was again changed to Neelamalai
Agro Industries Ltd.

1980 - An area of 14.94 hectares on Katary Estate was brought into
plucking.

1984 - A.V. Thomas Exports Ltd. and Neelamalai Investments Ltd., became
subsidiaries of the Company with effect from 10th May, and 18th
May, respectively.

- An area of 6.40 hectares was brought into plucking on Katary
Estate. An area of 3.20 hectares of old uneconomic tea was
uprooted for replanting.

1985 - The Company promoted a new company by name, AVT Rubber Products
Ltd. and it became a subsidiary of the company with effect from
20th July, 1984. As this subsidiary could not commence either
the business for which it was formed and any other business
authorised by its Memorandum of Association, the company proposed
to wind up this subsidiary.

1986 - On 27th March M/s A.V. Thomas Industrial products Ltd. became
subsidiary of the Neelamalai Tea and Coffee Estates and
Industries Ltd. This Company was to manufacture Soyabean Oil and
deoiled cake at its factory in Madhya Pradesh.

- Due to unfavourable weather conditions the estates could not
harvest the estimated crops.

- On Katary estate, 6.40 hectares of old tea was replanted with
high yielding clonal plants and a further area of 6,39 hectares
of old and uneconomic tea was uprooted.

- Equity shares of Rs 5 each consolidated into shares of Rs 10 each
on 17th July.

1987 - The overall operations suffered as production declined and prices
realised for tea were also lower than the previous year.

- On Katary estate 6.39 hectares of old tea was replanted with
clonal plants.

1988 - 1.37 hectares on Sulton, 6.39 hectares on Katary and 4.84
hectares on Bhawani estates were replanted with high yielding
clonal plants.

1989 - Crop harvested was poor on account of unfavourable weather
conditions.

1990 - Crop harvested was poor on account of unfavourable weather
conditions.

1991

-3,60,000 Bonus Equity shares issued in the prop. 1:1.

1992

-The estates could not harvest the estimated crop. Due to general decline in tea prices, the prices realised were lower than the previous year.

-Crop harvested continued to be poor on account of unfavourable weather conditions.

1993

-The Company extended Katary factory and commissioned CTC manufacturing facility.

-1,80,000-5% Pref. shares redeemed.

1994

-Though in the initial stages, the prices for Orthodox teas were very poor, the Company could combat the situation by trying up supplies for export.

-The High Couirt of Chennai gave its approval for amalgamation of the subsidiary viz., Neelamalai Investments Ltd., with the Company. A. V. Thomas Industrial Products Ltd., is a subsidiary of the Company.

2000

-The Company has bought back 92,650 equity shares at a price of Rs.65 per share from the existing equity shareholders of the company.

2008

-The Company has recommended a Dividend of 100% for the year.

2009

-The Company has recommended a Dividend of Rs 10/- Per Share for the year.

2010

-The Company has recommended a Dividend of Rs. 10/- per Share for the year.

2011

-The Company has recommended a dividend of Rs. 15/- per share for the year.

2012

-The Company has recommended a Final Dividend of Rs. 10/- per share (100%) on the equity share capital of the Company for the year 2011-2012 in addition to the Special Interim Dividend at Rs. 100/- (1000%) already paid.

2013
-Neelamalai Agro Industries Ltd has recommended a final dividend of Rs. 20/- per share (200%) on the equity share capital of the Company

2014
-Neelamalai Agro Industries Ltd has recommended a dividend of Rs. 40/- per share (400%) on the equity share capital

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