172@29@16@34!~!172@29@0@53!~!|commonstore|commonfiles|moneycontrol_header.php?cid=0&s_cid=0&radar_off=0&is_revamped_header=0&is_responsive=1&sec=PNC_ANNUALREPORT&priceinter=1&frommc=1!~!|commonstore|commonfiles|moneycontrol_header.php
Moneycontrol
SENSEX NIFTY
you are here:

Harrisons Malyalam Ltd.

BSE: 500467 | NSE: HARRMALAYA |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE544A01019 | SECTOR: Plantations - Tea & Coffee

BSE Live

Aug 14, 11:56
94.10 -1.15 (-1.21%)
Volume
AVERAGE VOLUME
5-Day
19,351
10-Day
49,767
30-Day
41,157
3,469
  • Prev. Close

    95.25

  • Open Price

    95.75

  • Bid Price (Qty.)

    93.80 (100)

  • Offer Price (Qty.)

    94.10 (222)

NSE Live

Aug 14, 11:56
94.00 -1.75 (-1.83%)
Volume
AVERAGE VOLUME
5-Day
111,750
10-Day
222,585
30-Day
252,914
32,959
  • Prev. Close

    95.75

  • Open Price

    96.50

  • Bid Price (Qty.)

    93.90 (50)

  • Offer Price (Qty.)

    94.00 (297)

Annual Report

For Year :
2011 2010 2009 2008 2003

Chairman's Speech

Dear shareholders, Firstly, may I thank you most sincerely for your continued trust In Harrisons Malayalam. For HML, 2010-11 has been a period of struggle. While Tea prices were going up In the rest of the world, South India was the only geography In the world where Tea prices actually came down. In Rubber also, while price realization was good, production was not satisfactory, mainly due to excess rains during the peak cropping period. Indian agriculture is witnessing a new problem of non-availability of workers and steep increase in wages. Wages continued to spiral up, while production, productivity and prices lagged behind. There was an overall increase in the prices of agricultural produce leading to increase in food inflation, but it has still not been able to cover the increase in costs. Government''s monetary and fiscal measures to control inflation have made borrowing more costly, affecting investment and growth. India''s total tea production came down by 2 % to 966 million kg, while Sri Lanka and Kenya, reported substantial increases. Also Tea prices that had gone up by about Rs 25/- per kg in the previous year, witnessed in 2010-11 a downward trend, resulting in prices coming down by about Rs. 10 per Kg in South India. This was unlike the global trend where prices went up. Poor demand for lesser-quality tea also led to a fall in prices. However, there was a good market for high-quality tea, which resulted in higher price realization. From January 2011 onwards, tea prices started improving in South India. This trend is expected to continue during the current year as well. During FY2011, HMLs tea production dropped by about 9% mainly due to the reduction in cropping area, as the Company had undertaken substantial area under uprooting and replanting in tea gardens. Also, there was a drop in productivity on account of adverse weather and old age of its Tea bushes. HML has been focusing on the developmental work in its plantations and would continue to undertake uprooting and replanting of its gardens in a major way for the next few years. This rejuvenation is essential for improving its land productivity in future. During FY2011 approximately 35 lakh plants were used for Infilling and Replanting in our tea gardens. Factory manufacturing efficiencies and factory capacity utilization were improved by enhancing bought-leaf intake. HML tea factories were upgraded, reducing manufacturing cost and improving quality. HMLs auctions sale average was comparable to the South Indian average. In natural rubber, mainly due to higher consumption from the Tyre industry, demand was good and was mostly ahead of increase in supplies. Prices fluctuated during most part of the year. They varied from a level of about Rs 165 per Kg to about Rs 240 per Kg and settled mostly in the range of about Rs 210-230 per Kg. Of late, Natural Rubber prices have come down slightly to about Rs. 200-210 levels. They are expected to remain range-bound and should follow the development in automobile sector. During FY 2011 HML continued with its major drive towards replanting and undertook a large area for rubber replantation. We are in the closing phase of completing the accelerated replanting, as FY 2012 is expected to be the last of the increased replanting years. From FY 2013 we shall be back to normal annual replanting of about 3-3.5% area under rubber plantation. The benefits of accelerated replanting should be visible from FY 2013 onwards. We expect a substantial jump in production and productivity from FY 2013 onwards. HML continues to focus on Fruit, Spices and other Crops (FSO) Division. That is currently in the developmental phase. We continue to invest in this Division by undertaking increased planting of Pineapple, Fuel crops, Pepper, Cardamom and Cocoa either as intercrop or main crop wherever possible. During FY 2011, HML planted 55000 pepper vines, 1.5 lakh plants under fuel and shade trees and approximately 50000 Cocoa plants. In another 3-4 years, FSO should start contributing to the profitability of the company and become a strong factor in stabilizing the bottom line. Your Company continues to focus on Recruitment and Training of fresh managerial talent to ensure quality and continuity of the Management team. We already have a strong group in place to manage future growth. I am glad that your company registered a growth of 12 % defying various constraints. I am confident, profitability will improve substantially from next year. While market forces would dictate commodity prices, improved efficiency and higher land and labour productivity should contribute significantly to the growth in Profits.. I wish to acknowledge and appreciate the commitment and contribution of the HML team in making our Company stronger and taking it to greater heights. Sanjiv Goenka Chairman