Goodricke eyes alternate crops, tea tourism for future diversification

Following a turnaround in FY25, Goodricke to explore turmeric, dairy and tea tourism using non-tea land, while continuing to strengthen its core tea business

Tea producing company Goodricke Group, the listed subsidiary of UK-based Camellia Plc, is looking to diversify into alternative crops and tea tourism, leveraging its non-tea land holdings across tea estates.

 

Addressing shareholders at the company’s 49th annual general meeting on Tuesday, Chairman Stephen Charles Buckland said, “We are exploring diversified agriculture and hospitality ventures using our rich land assets, with early projects in turmeric, garlic, ginger, mushrooms, and a dairy with a piggery in development.”

 

“Our phased entry into tea tourism using our world-class tea gardens and estates as a base to offer guests a truly exclusive and memorable experience is also underway,” he added.

 

Managing Director and Chief Executive Officer Arun Narain Singh noted that the company was looking to build future-ready business verticals that align with long-term sustainability goals while continuing to strengthen its core tea business.

 

The tea industry has been facing headwinds. Goodricke’s strategic move comes on the back of a turnaround in financial performance in FY25. The company posted revenue of Rs 929 crore, up from Rs 824 crore in the previous year. Net profit stood at Rs 20.06 crore, compared to a loss of Rs 69.30 crore in FY24.

 

In a move to deleverage and mobilise resources for its new initiatives, Goodricke divested two tea estates in the Dooars region during the year.

 

Goodricke is among four Camellia Plc operating companies in India, alongside unlisted entities Amgoorie India Ltd, Stewart Holl India Ltd, and Koomber Tea Co Pvt Ltd.

 

The combined Indian operations posted a turnover of Rs 1,162 crore in FY25, up from Rs 1,030 crore in FY24, with Indian operational profit touching Rs 31 crore, compared to a loss of Rs 98 crore in the previous year.

 

Buckland told shareholders that the industry outlook remains cautiously optimistic. “While the global tea market shows signs of surplus, domestic consumption and exports offer prospects for growth. Risks persist in the form of climate variability, increasing regulatory requirements, and competition from both established brands and local packeters.”

 

He added that the growing dominance of small tea growers, contributing over 54 per cent to national production, is reshaping industry dynamics.

 

“These shifts present both challenges and opportunities for organised players like ourselves. However, we continue to invest in sustainable practices, cost rationalisation, and strategic investments in irrigation and renewable energy to mitigate these challenges and ensure long-term viability,” the Goodricke Chairman said.