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Assambrook Ltd.

BSE: 500025 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE353C01011
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
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Assambrook Ltd. (ASSAMBROOK) - Company History

Assambrook Ltd is engaged in growing and cultivating tea plantation, as well as manufacturing tea in India. The company owns two tea estates at Tinkharia and Dhullie in the state of Assam in Tinkharia and Dhullie. They also own two factories in the same place. Assambrook Ltd was incorporated in the year 1947 in Kolkata with the name Brooke Bond Estate Ltd. The company's main business is growing, manufacturing and sale of tea. In the year 1969, the name of the company was changed from Brooke Bond Estate Ltd to Assambrook Estate Ltd with effect from November 1, 1969. Till 1981, the company was a subsidiary of the Brooke Bond group. The controlling interest of the company was subsequently acquired by S Rampuria and his associates. In the year 1982, the company added 23 hectares in Group A and 25 hectares in Group B. In the year 1983, they undertook major expansion programme for reorganizing the Dhullie factory. Also, they changed the name of the company from Assambrook Estates Ltd to Assambrook Ltd with effect from May 30, 1983. In the year 1984, the company increased the handling capacity of Dhullie factory, which was equipped for dual manufacture of orthodox and CTC teas. Also, Vineet Udyog Ltd, Vineet Exports Ltd and Assambrook Investments Ltd became the wholly owned subsidiary of the company. In the year 1988, the company launched the blended tea operations in domestic market. They entered into an agreement for the acquisition of four tea gardens in the State of Kerala. In the year 1990, they launched their blended tea in polypack under the brand name Mahak in North India. During 1996-97, Vineet Udyog Ltd, a wholly owned subsidiary was not faring well for last several years therefore Vineet Udyog was disposed of and the entire shareholding was sold at par. During the year, the profit of the company declined due to lack of CIS buying and their increased availability. During the year 1999-2000, the company entered into an agreement with the Central Depositary Services Ltd facilitating the equity shareholders of the company to hold their equity holding in the company in the electronic form. The company also entered into an agreement with the National Securities Depository Ltd and the formal conformational is awaited from NSDL effective from February 26, 2001. During the year 2000-01, Sundera Enterprises Pvt Ltd was merged with ABL International Ltd, a subsidiary company with effect from April 1, 1999. The real estate division of ABL International Ltd, a subsidiary company was merged with the company with effect from April 01, 2004. During the year 2004-05, pursuant to the scheme of arrangement between Sundera Enterprise Pvt Ltd and the company's subsidiary ABL International Ltd fresh equity shares were issued by ABL International Ltd. This resulted in reduction of the holding in the subsidiary company. As such ABL International Ltd ceased to be a subsidiary of the company with effect from March 15, 2005. With a view to increasing shareholders wealth and returns, the board is seriously evaluation various options to enter new businesses and would keep the shareholders abreast with the plans to crystallization.

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