Mcleod Russel buys tea processing factory in Vietnam

In a filing to the BSE, Mcleod Russel India informed that Phu Ben Tea Company Ltd, a step-down subsidiary in Vietnam, has signed an agreement for purchase of a tea processing factory in Vietnam "for a consideration of USD 820,000 plus VAT at the applicable rate".

Tea major Mcleod Russel India today announced acquisition of a tea processing factory in Vietnam
for over Rs 5 crore. Mcleod Russel is the world's largest tea producer. It produces about 100 million kgs of high quality tea a year from tea estates in Assam, West Bengal, Vietnam, Uganda and Rwanda.

The processing unit has an annual production capacity of 6 lakh kg of green tea. Kolkata-based Mcleod Russel India posted a net profit of Rs 128.66 crore for the quarter ended December 31 , 2013 compared to Rs 123.15 crore in the year-ago period. Total income has increased to Rs 486.53 crore from Rs 457.04 crore during the period under review.

Mcleod stock price

On March 03, 2014, Mcleod Russel (India) closed at Rs 284.55, up Rs 2.60, or 0.92 percent. The 52-week high of the share was Rs 374.85 and the 52-week low was Rs 240.35.

The company's trailing 12-month (TTM) EPS was at Rs 23.14 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 12.3. The latest book value of the company is Rs 164.06 per share. At current value, the price-to-book value of the company is 1.73.

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