The Telegraph
Saturday , April 12 , 2014
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Goodricke stirs rich brew for Dooars tea

Arun N. Singh (right) with Goodricke chairman P. J. Field in Calcutta on Friday. Picture by Kishor Roy Chowdhury

Calcutta, April 11: Goodricke Group Ltd will focus on adding value to tea from the Dooars to raise exports and arrest the fall in profit.

The company has twelve gardens in the Dooars producing the crush, tear, curl (CTC) variety and has already started exports from the region last year.

Goodricke is now trying to convert to the orthodox variety in one of the estates. Plans are underway to set up a green tea plant in the Dooars and tap the markets in Jammu and Amritsar.

At present, the Dooars contributes 15 million kg to Goodricke’s overall production of about 22 million kg in 2013. It has set a target to export at least a million kg from the region this year, with Iran being a prospective market.

Responding to queries from shareholders at the company’s 38th annual general meeting here today, managing director and CEO Arun N. Singh said. “We are trying to diversify into different products. We have started manufacturing orthodox tea in the Dooars. We have also started to export our Dooars tea and are trying to set up a green tea plant in the region.”

Tea from the Dooars mostly produce thin liquor compared with the Assam variety and export enquiries hardly trickle in.

Goodricke profit has slid to Rs 275 crore in 2012 from Rs 630 crore in 2010.

The company’s scrip today fell 2.57 per cent to close at Rs 145.90 on the BSE.