APPL produces diverse tea varieties including CTC, Orthodox, Green, and Organic teas, and operates four tea packaging centers serving other branded tea companies. The company is an established bulk tea player in North India with production of 34.5 million kg in FY2024, approximately 31% sourced from bought leaves. However, FY2024 saw significant operating losses of Rs 48 crore due to subdued tea prices and rising wage costs.
Cyborg Score Rationale
The company faced significant financial headwinds in FY2024 with operating losses and negative net worth, driven by weak tea realizations and cost pressures. Strong Tata Group backing (65.64% equity stake) provides financial support, but geographical concentration, agro-climatic risks, and industry cyclicality pose structural challenges.
Top Insights
FY2024 (ending March 2025) marked a significant downturn: operating loss of Rs 48 crore driven by steep corrections in tea realization coupled with wage inflation and subdued CTC and Orthodox tea prices.
APPL employs 31,000 people and partners with approximately 100,000 small tea growers for green leaf sourcing, anchoring rural livelihoods in Assam and West Bengal.
Despite recent challenges, revenue grew at a 7% CAGR over the prior year (FY2025), with turnover between Rs 500-1,000 Crore.
Tata Consumer Products Limited (TCPL) injected Rs 200 crore as preference capital in FY2022-23 to manage cash flow stress, with trade advances and repayment extensions providing liquidity support.
Named Competitors
Assam Company — Large independent tea plantation and producer in Assam
Goodricke Group Ltd — India's largest CTC tea producer with 11 Assam estates and 85 million kg annual capacity
Rossell India Ltd — Large independent Assam tea estate producer competing in bulk commodity tea market
Jay Shree Tea and Industries Ltd — Mid-cap Assam and Cachar region tea plantation and bulk producer
Recent Developments
(March 2025) FY2024 ended with operating loss of Rs 48 crore and negative net worth due to weak tea prices and elevated wage costs
(June 2025) Annual General Meeting held (per June 27, 2025 records)
(April-May 2025) Tea prices (CTC and Orthodox varieties) showing firmness after FY2024 weakness
Open the full interactive Amalgamated Plantations Private Limited report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.