Tea/Coffee · Founded 2009 · www.jameswarrentea.com · BSE 538564 · · ISIN INE718P01017
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Business
James Warren Tea Ltd. is primarily engaged in the cultivation, manufacturing, and marketing of tea. The company operates tea estates, predominantly focusing on the production of various grades of tea. Its core business model involves managing the entire process from plantation to processing tea leaves into finished products, which are then sold in bulk to blenders and packers, or as packaged tea under its own or third-party brands. The company generates revenue by selling its manufactured tea.
Revenue Mix
The primary and dominant segment for James Warren Tea Ltd. is tea. This includes the cultivation of green leaf tea, its processing into black tea (Orthodox and CTC varieties), and its subsequent sale. Specific revenue contributions from different tea types (e.g., bulk vs. packaged, different grades) or other minor agricultural activities are not publicly detailed but tea is the overarching revenue driver.
Industry
James Warren Tea Ltd. operates within the Indian tea industry, which is characterized by a mix of large integrated players, mid-sized estate owners, and numerous small growers. The industry is commodity-driven but also features a significant value-added segment (branded packaged tea). India is one of the largest producers and consumers of tea globally. James Warren Tea likely positions itself as an established tea estate owner, potentially known for specific regional teas (e.g., Assam teas), catering to both the bulk tea market and potentially niche branded segments. Its positioning relative to larger players like Tata Consumer Products or McLeod Russel would be as a mid-tier or specialized plantation company.
MOAT
James Warren Tea's potential competitive advantages could stem from:
Established Tea Estates: Ownership of well-established, fertile tea gardens in prime tea-growing regions, which can yield consistent quality and volume.
Operational Experience: Long-standing expertise in tea cultivation and processing, leading to efficient operations and quality control.
Relationships: Developed relationships with bulk buyers and potentially a distribution network for branded products, if applicable.
Terroir/Quality: Potential for specific estates to produce high-quality or specialty teas that command premium prices.
Growth Drivers
Rising Domestic Consumption: Continued growth in India's population and increasing per capita consumption of tea.
Value-Added Products: Expansion into branded and specialty tea segments (e.g., organic, specific blends) to capture higher margins.
Export Opportunities: Increased demand for Indian tea in international markets.
Price Realization: Favorable trends in global and domestic tea prices.
Operational Efficiency: Improvements in yields, cost management, and processing technologies.
Risks
Commodity Price Volatility: Tea prices are subject to demand-supply dynamics, geopolitical factors, and economic conditions, leading to revenue fluctuations.
Weather Dependency: As an agro-based business, the company is highly susceptible to adverse weather conditions (droughts, excessive rainfall, pests) affecting crop yield and quality.
Labor Issues: Plantation companies are labor-intensive; wage inflation, labor unrest, or scarcity can impact profitability.
Regulatory Changes: Changes in labor laws, environmental regulations, or export/import policies can affect operations and costs.
Competition: Intense competition from other tea producers and alternative beverage companies.
Climate Change: Long-term impact of climate change on tea-growing regions.
Management & Ownership
James Warren Tea Ltd., like many Indian companies, is likely controlled by a promoter group (often a family) with significant shareholding. The management team's quality would depend on their experience in the tea industry, strategic vision for value addition, and ability to navigate commodity cycles. The ownership structure typically includes the promoter group, institutional investors, and public shareholders.
Outlook
James Warren Tea Ltd. operates in a staple industry with consistent demand, especially in India. The company benefits from its core business of tea cultivation and processing. The outlook is balanced by the potential for growth through value addition, increasing domestic consumption, and export opportunities against the inherent risks of an agro-commodity business. These risks include price volatility, dependence on weather conditions, and labor management challenges. Success will hinge on effective cost control, quality management, and the ability to adapt to evolving consumer preferences and market dynamics.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 37 | 5 | 31 | 75 | 52 | 8 | 26 | 47 | 35 | 3 |
| Other Income | 3 | 13 | 2 | 3 | -3 | 2 | 8 | 0 | 4 | -8 |
| Total Income | 40 | 18 | 33 | 78 | 49 | 11 | 34 | 48 | 38 | -4 |
| Total Expenditure | 44 | 27 | 22 | 37 | 53 | 23 | 16 | 25 | 38 | 20 |
| Operating Profit | -4 | -9 | 11 | 41 | -5 | -12 | 17 | 23 | 0 | -25 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 15 | 56 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -5 | -10 | 11 | 41 | 9 | 43 | 17 | 22 | -0 | -25 |
| Provision for Tax | -0 | -2 | 1 | 3 | -1 | -1 | 2 | 1 | 1 | -4 |
| Profit After Tax | -5 | -8 | 10 | 38 | 10 | 44 | 14 | 21 | -1 | -21 |
| Adjustments | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 |
| Profit After Adjustments | -5 | -8 | 10 | 38 | 10 | 44 | 14 | 21 | -1 | -21 |
| Adjusted Earnings Per Share | -13.5 | -22 | 26.2 | 101.5 | 27.8 | 118.5 | 38.5 | 56.5 | -3.9 | -57.5 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 134 | 137 | 121 | 116 | 145 | 144 | 128 | 111 | 130 | 117 | 166 | 111 |
| Other Income | 3 | 6 | 6 | 7 | 4 | 3 | 6 | 5 | 12 | 26 | 5 | 4 |
| Total Income | 138 | 143 | 128 | 123 | 149 | 147 | 134 | 116 | 142 | 142 | 171 | 116 |
| Total Expenditure | 124 | 132 | 124 | 124 | 140 | 140 | 115 | 104 | 129 | 138 | 135 | 99 |
| Operating Profit | 14 | 12 | 4 | -1 | 9 | 7 | 19 | 12 | 13 | 4 | 36 | 15 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 9 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 1 |
| Exceptional Income / Expenses | 0 | 21 | 1 | 0 | 0 | 0 | 15 | 0 | 0 | 0 | 71 | 0 |
| Profit Before Tax | 5 | 29 | 2 | -3 | 6 | 4 | 31 | 9 | 10 | 2 | 104 | 14 |
| Provision for Tax | -0 | 2 | 2 | -1 | 2 | 1 | 2 | 1 | 0 | -0 | 3 | 0 |
| Profit After Tax | 5 | 27 | 0 | -3 | 4 | 3 | 29 | 8 | 9 | 2 | 101 | 13 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 5 | 27 | 0 | -3 | 4 | 3 | 29 | 8 | 9 | 2 | 101 | 13 |
| Adjusted Earnings Per Share | 4.2 | 22.8 | 0 | -2.7 | 4.3 | 4.3 | 55.2 | 18.8 | 21.6 | 5.1 | 274 | 33.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 42% | 14% | 3% | 2% |
| Operating Profit CAGR | 800% | 44% | 39% | 10% |
| PAT CAGR | 4950% | 133% | 102% | 35% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -19% | 4% | 4% | 6% |
| ROE Average | 74% | 29% | 24% | 14% |
| ROCE Average | 76% | 29% | 25% | 15% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 106 | 134 | 146 | 114 | 114 | 89 | 112 | 94 | 103 | 86 | 188 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 9 | 10 | 29 | 31 | 36 | 40 | 34 | 28 | 21 | 19 | 5 |
| Total Current Liabilities | 29 | 38 | 24 | 24 | 34 | 27 | 17 | 30 | 28 | 21 | 18 |
| Total Liabilities | 145 | 181 | 199 | 169 | 184 | 156 | 163 | 153 | 153 | 126 | 211 |
| Fixed Assets | 44 | 44 | 45 | 45 | 43 | 44 | 39 | 39 | 40 | 40 | 25 |
| Other Non-Current Assets | 34 | 38 | 74 | 75 | 76 | 55 | 43 | 44 | 39 | 37 | 33 |
| Total Current Assets | 67 | 99 | 80 | 49 | 64 | 57 | 81 | 71 | 74 | 50 | 154 |
| Total Assets | 145 | 181 | 199 | 169 | 184 | 156 | 163 | 153 | 153 | 126 | 211 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 9 | 1 | 7 | 4 | 2 | 1 | 17 | 1 | 8 | 2 | 4 |
| Cash Flow from Operating Activities | 12 | 18 | -8 | 2 | 15 | 6 | 15 | 8 | 1 | -16 | 25 |
| Cash Flow from Investing Activities | -24 | -13 | 10 | 32 | -16 | 36 | -7 | 23 | -6 | 39 | -27 |
| Cash Flow from Financing Activities | 5 | -0 | -5 | -35 | 0 | -27 | -24 | -25 | 0 | -21 | 0 |
| Net Cash Inflow / Outflow | -7 | 5 | -3 | -1 | -1 | 16 | -16 | 7 | -6 | 2 | -2 |
| Closing Cash & Cash Equivalent | 1 | 7 | 4 | 2 | 1 | 17 | 1 | 8 | 2 | 4 | 2 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 4.23 | 22.82 | 0.01 | -2.72 | 4.34 | 4.31 | 55.24 | 18.75 | 21.56 | 5.09 | 274.04 |
| CEPS(Rs) | 11.85 | 25.66 | 2.57 | 0.63 | 7.64 | 8.89 | 60.86 | 25.07 | 28.05 | 12.54 | 280.74 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 88.6 | 111.42 | 122.04 | 122.71 | 122.13 | 128.1 | 213.77 | 214.12 | 234.79 | 232.36 | 507.53 |
| Core EBITDA Margin(%) | 7.9 | 3.77 | -2.14 | -6.8 | 2.95 | 3.21 | 10.18 | 6.23 | 1 | -18.22 | 18.4 |
| EBIT Margin(%) | 3.49 | 21.52 | 1.69 | -3 | 3.9 | 2.95 | 23.86 | 8.46 | 7.64 | 1.3 | 62.65 |
| Pre Tax Margin(%) | 3.49 | 21.51 | 1.69 | -3 | 3.9 | 2.95 | 23.86 | 8.46 | 7.64 | 1.3 | 62.65 |
| PAT Margin (%) | 3.77 | 19.98 | 0.01 | -2.18 | 2.79 | 2.09 | 22.54 | 7.42 | 7.27 | 1.61 | 61.09 |
| Cash Profit Margin (%) | 10.57 | 22.46 | 2.54 | 0.5 | 4.91 | 4.3 | 24.83 | 9.92 | 9.46 | 3.97 | 62.58 |
| ROA(%) | 3.72 | 16.8 | 0.01 | -1.37 | 2.29 | 1.77 | 18.12 | 5.22 | 6.21 | 1.35 | 60.06 |
| ROE(%) | 4.89 | 22.82 | 0.01 | -1.94 | 3.54 | 2.96 | 28.75 | 8 | 9.6 | 1.99 | 74.08 |
| ROCE(%) | 4.41 | 23.6 | 1.44 | -2.67 | 4.96 | 4.2 | 30.43 | 9.11 | 10.1 | 1.6 | 75.97 |
| Receivable days | 1.83 | 1.79 | 6.79 | 7.31 | 2.7 | 3.46 | 4.08 | 3.48 | 1.97 | 1.89 | 0.73 |
| Inventory Days | 21.11 | 21.61 | 23.56 | 23.9 | 20.4 | 16.25 | 14.99 | 17.17 | 18.62 | 23.6 | 12.43 |
| Payable days | -7582.83 | -3086.66 | 3975.83 | 0 | 0 | 1747.81 | -4587.47 | 0 | -1199.09 | 1025.08 | 0 |
| PER(x) | 26.54 | 6.11 | 0 | 0 | 25.75 | 16.47 | 2.32 | 13.3 | 10.93 | 42.82 | 0.97 |
| Price/Book(x) | 1.27 | 1.25 | 1.05 | 1.07 | 0.91 | 0.55 | 0.6 | 1.16 | 1 | 0.94 | 0.52 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.03 | 1.21 | 1.24 | 1.03 | 0.71 | 0.23 | 0.51 | 0.92 | 0.78 | 0.66 | 0.58 |
| EV/Core EBITDA(x) | 9.99 | 14.35 | 39.81 | -194.47 | 11.79 | 4.38 | 3.46 | 8.37 | 7.93 | 18.02 | 2.7 |
| Net Sales Growth(%) | -5.56 | 1.95 | -11.47 | -4.34 | 24.62 | -0.26 | -10.96 | -13.47 | 17.37 | -10.5 | 42.12 |
| EBIT Growth(%) | -82.16 | 529.17 | -93.05 | -269.68 | 262.16 | -24.55 | 619.94 | -69.33 | 6.1 | -84.78 | 6748.11 |
| PAT Growth(%) | -74.99 | 439.7 | -99.95 | 0 | 259.3 | -25.38 | 862.51 | -71.51 | 14.95 | -80.14 | 5282.22 |
| EPS Growth(%) | 0 | 439.7 | -99.95 | 0 | 259.3 | -0.56 | 1181.28 | -66.05 | 14.95 | -76.38 | 5282.24 |
| Debt/Equity(x) | 0.05 | 0.04 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 2.27 | 2.63 | 3.32 | 2.09 | 1.87 | 2.08 | 4.74 | 2.35 | 2.64 | 2.34 | 8.39 |
| Quick Ratio(x) | 2.02 | 2.39 | 3.03 | 1.74 | 1.64 | 1.9 | 4.41 | 2.18 | 2.34 | 2.02 | 8.14 |
| Interest Cover(x) | 3349.36 | 2153.47 | 1465.14 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt/Mcap(x) | 0.04 | 0.03 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +42% | +14% | +3% | +2% |
| Operating Profit CAGR | +800% | +44% | +39% | +10% |
| PAT CAGR | +4950% | +133% | +102% | +35% |
| Share Price CAGR | -19% | +4% | +4% | +6% |
| ROE Average | +74% | +29% | +24% | +14% |
| ROCE Average | +76% | +29% | +25% | +15% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 | 68.61 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 | 31.39 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 |
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