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Neelamalai Agro Industries Ltd > Company History > Plantations - Tea & Coffee > Company History of Neelamalai Agro Industries Ltd - BSE: 508670, NSE: N.A
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Neelamalai Agro Industries Ltd
BSE: 508670|ISIN: INE605D01012|SECTOR: Plantations - Tea & Coffee
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Company History - Neelamalai Agro Industries Ltd
YEAR                       EVENTS
 1943 - The Company was incorporated at Coimbatore.  The main object
 of
        the Company is Cultivation of tea.  The estates are situated
 in
        Nilgiris and Coorg at an average elevation of 5000 feet.
 
 1964 - Wooligooly Coffee estate was disposed at a profit of Rs
 6,28,378.
 
 1979 - Effective from 30th May, the name of the company was changed
 from
        Neelamalai Tea & Coffee Estates Ltd., to Neelamalai Tea &
 Coffee
        Estates & Industries Ltd.  It was again changed to Neelamalai
        Agro Industries Ltd.						
 
 1980 - An area of 14.94 hectares on Katary Estate was brought into 
        plucking.
 
 1984 - A.V. Thomas Exports Ltd. and Neelamalai Investments Ltd.,
 became
        subsidiaries of the Company with effect from 10th May, and
 18th
        May, respectively.
 
      - An area of 6.40 hectares was brought into plucking on Katary
        Estate.  An area of 3.20 hectares of old uneconomic tea was
        uprooted for replanting.
 
 1985 - The Company promoted a new company by name, AVT Rubber
 Products
        Ltd. and it became a subsidiary of the company with effect
 from
        20th July, 1984.  As this subsidiary could not commence
 either
        the business for which it was formed and any other business
        authorised by its Memorandum of Association, the company
 proposed
        to wind up this subsidiary.
 
 1986 - On 27th March M/s A.V. Thomas Industrial products Ltd. became
        subsidiary of the Neelamalai Tea and Coffee Estates and
        Industries Ltd.  This Company was to manufacture Soyabean Oil
 and
        deoiled cake at its factory in Madhya Pradesh.
 
      - Due to unfavourable weather conditions the estates could not 
        harvest the estimated crops.
 
      - On Katary estate, 6.40 hectares of old tea was replanted with
        high yielding clonal plants and a further area of 6,39
 hectares
        of old and uneconomic tea was uprooted.
 
      - Equity shares of Rs 5 each consolidated into shares of Rs 10
 each
        on 17th July.
 
 1987 - The overall operations suffered as production declined and
 prices 
        realised for tea were also lower than the previous year.
 
      - On Katary estate 6.39 hectares of old tea was replanted with
        clonal plants.
 
 1988 - 1.37 hectares on Sulton, 6.39 hectares on Katary and 4.84
        hectares on Bhawani estates were replanted with high yielding
        clonal plants.
 
 1989 - Crop harvested was poor on account of unfavourable weather
        conditions.  
 
 1990 - Crop harvested was poor on account of unfavourable weather 
        conditions.
 
 1991 
 
 -3,60,000 Bonus Equity shares issued in the prop. 1:1.
 
 1992 
 
 -The estates could not harvest the estimated crop.  Due to general
 decline in tea prices, the prices realised were lower than the
 previous year.
       
 -Crop harvested continued to be poor on account of unfavourable
 weather conditions.
      
 
 1993 
 
 -The Company extended Katary factory and commissioned CTC
 manufacturing facility.
 
 -1,80,000-5% Pref. shares redeemed.
 
 1994 
 
 -Though in the initial stages, the prices for Orthodox teas were very
 poor, the Company could combat the situation by trying up supplies for
 export.
        
 -The High Couirt of Chennai gave its approval for amalgamation of the
 subsidiary viz., Neelamalai Investments Ltd., with the Company.  A. V.
 Thomas Industrial Products Ltd., is a subsidiary of the Company.
        
 2000 
 
 -The Company has bought back 92,650 equity shares at a price of Rs.65
 per share from the existing equity shareholders of the company.
 
 2008
 
 -The Company has recommended a Dividend of 100% for the year.
 
 2009
 
 -The Company has recommended a Dividend of Rs 10/- Per Share for the
 year.
 
 2010
 
 -The Company has recommended a Dividend of Rs. 10/- per Share for the
 year.
 
 2011
 
 -The Company has recommended a dividend of Rs. 15/- per share for the
 year.
 
 2012
 
 -The Company has recommended a Final Dividend of Rs. 10/- per share
 (100%) on the equity share capital of the Company for the year
 2011-2012 in addition to the Special Interim Dividend at Rs. 100/-
 (1000%) already paid.
Source : Dion Global Solutions Limited
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