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PTI Last Updated at 09-08-2018 20:02:06 IST India

Bulk tea producer McLeod Russel,

a part of the Williamson Magor group, today said it would draw

up strategy to become asset-light, would sell its marginal

loss making gardens and expand purchase of bought leaf.

Vice-chairman and MD of McLeod Russel Aditya Khaitan

told shareholders at the company's AGM that the idea behind

disposing off marginal gardens was to pare debt.

He said the company would assess the gardens on the

basis of which the sell-off decision would be taken.

"We want to bring down interest costs and be asset

light", he added.

In the last seven to eight years, the company

purchased around 18 to 20 million kilograms of bought leaf

from the unorganised sector.

Cash received from selling the tea estates would be

used for making long-term investments, Khaitan said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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