Kolkata: Public sector heavy engineering firm Andrew Yule & Co. Ltd is planning to invest Rs600 million in the next two years in its tea, engineering and electrical businesses, said a top company official on Tuesday.
“We are planning to invest Rs600 million over the next couple of years. A major part of this investment is intended to develop the tea business,” chairman and managing director Kallol Datta said.
The tea business contributes nearly 45% of the company’s revenue and has 15 tea gardens across Assam and West Bengal.
“In most of our tea gardens the plants are ageing so we are going for re-plantation in most of the gardens,” he said.
“Apart from this there is a scope for investing in Yule Electrical Ltd and Yule Engineering Ltd, the other two verticals of the company,” Datta added.
Currently, the electrical and the engineering businesses contribute 45% and 10% respectively of the Kolkata-based company’s business.
The company expects these investments would generate an additional revenue of more than Rs800 million by the end of FY11.
“We are in the process of preparing a master plan regarding our future business plans which we would submit to the government, but in next two years, after all these investments fructifies, our total revenue would grow to Rs2.5 billion from Rs1.79 billion reported in FY09,” Datta said.
The company reported a net profit of Rs185 million in FY09.