Jay Shree Tea chairman B.K. Birla (right) with director B.M. Khaitan (left) in Calcutta on Friday. A Telegraph picture

Calcutta, June 27: Jay Shree Tea and Industries expects its production to rise to 22 million kg during the current fiscal from 18.5 million kg in 2007-08.

The company’s exports revenue in 2008-09 is also set to increase to Rs 60 crore from Rs 49 crore last year, chairman B.K. Birla said at the company’s 62nd annual general meeting here today.

With prices of Assam, Cachar and Darjeeling tea higher this year by Rs 15-17 per kg, Birla said the company would be able to increase the production of the orthodox variety, which has a strong market in international countries such as England, Germany and Russia.

“Though the general tea market has improved, it is far below the prices achieved during 1998-99,” Birla said.

Jay Shree Tea reported an income of Rs 311 crore in 2007-08 against Rs 278 crore in the previous fiscal.

On the recent unrest in the hills, Birla said, “Things have started becoming normal in Darjeeling.”

In April last year, Jay Shree Tea bought Darjeeling Consolidated Tea, which has two gardens having a capacity of 3.5 lakh kg.

Darjeeling Consolidated along with Birla Tea Ltd and Marionbarie Tea Company were later merged with Jay Shree Tea.

This merger brought five gardens under Jay Shree’s fold, but increased the production only marginally to 20 million kg from 19 million kg.

The company is also open to selling its infotech division — Jay Shree Infotech — provided it finds a good price as the company believes that its core competence is in tea and related activities.