Company Overview

Norben Tea & Exports Limited is an Indian company established in 1990, primarily engaged in the growing, manufacturing, and marketing of various types of tea. Based in Kolkata, India, the company offers a portfolio including Indian teas, flavor teas, green teas, and teabags. Originally incorporated as Daga Plantations on May 14, 1990, it adopted its current name in April 1994. Promoted by Shri Manoj Kumar Daga, the company is led by Manoj Kumar Daga as both Chairman and Managing Director. Norben Tea & Exports is a registered member of prominent industry bodies such as the Tea Board, the Tea Association of India (TAI), the Calcutta Tea Traders Association (CTTA), and the Siliguri Tea Auction Committee (STAC).

Business Operations and Manufacturing

The company operates an integrated tea business model encompassing plantation, manufacturing, and marketing. Norben Tea & Exports has established plantations totaling 121.46 hectares. It operates a new generation tea factory in Berubari, Jalpaiguri District, West Bengal, with an initial installed capacity of 12 Lakh Kgs of made tea per annum. This capacity has since expanded, with a new factory capable of producing 19 lakhs kgs of made tea per annum, comprising 4.2 lakhs kgs of CTC type and 5 lakhs kgs of Green Tea. The company's young plantations utilize 100% clonal varieties to produce high-quality, bright liquoring teas. Its operations are divided into three divisions: Berubari, Pareshnagar, and Sakati, with significant land available at Singhimari for future plantation development. Norben employs modern agricultural practices, including planting Toklai-approved high-yielding clone varieties and has acquired additional land for new tea estates.

Financial Performance and Market Position

Norben Tea & Exports Ltd. has a market capitalization of ₹47 Crores as of June 26, 2025, classifying it as a Small Cap company according to Value Research. The company's financial metrics show mixed performance, with some strengths and areas needing attention.

Key Financial Metrics

- Market Capitalization: ₹47 Cr (as of 26-Jun-2025)

- Revenue (TTM): Rs. 7.65 Cr

- Annual Revenue Growth: 16% (Outstanding)

- Q4 FY25 Financial Results: Revenue: ₹1.08 Cr; Net Profit: ₹-1.03 Cr (as on March 2025)

- Debt-to-Equity Ratio: 37% (Reasonable, indicating a healthy balance sheet)

Valuation Metrics

- P/B Ratio: 2.98 times (as on 26-Jun-2025), representing an 82% premium to its peers' median of 1.64 times.

- P/E Ratio: Not available due to negative TTM earnings.

Stock Performance and Market Data

Norben Tea & Exports Ltd. has experienced significant volatility with notable growth potential. The stock has delivered returns of 83.08% in the last 3 years. Over the past 6 months, the share price has increased by 65.04%, and in the last year, it has seen a substantial rise of 155.1%.

The stock is traded on both the NSE (symbol: NORBTEAEXP) and BSE (code: 519528). The 52-week high for the stock price is ₹52.04, while the 52-week low is ₹11.51.

Shareholding Pattern and Corporate Governance

- Promoter Holding: 45.3%

- The promoter group maintains a significant stake, contributing to ownership stability.

- There is no promoter pledging, indicating a clean holding structure without encumbrances.

Recent Corporate Developments

- Listing approval of 1,218,100 preferential equity shares at ₹17 each from June 19, 2025.

- The 35th Annual General Meeting is scheduled for July 5, 2025, at 11:30 AM IST.

Investment Considerations

Norben Tea & Exports Ltd. operates within the traditional tea industry, leveraging established plantation assets and manufacturing infrastructure in West Bengal's prime tea-growing regions. While the company has demonstrated strong revenue growth and maintains a reasonable debt profile, investors should be aware of current negative profitability and a low interest coverage ratio.

The company has delivered a poor sales growth of 9.45% over the past five years and a low return on equity of -3.87% over the last 3 years. Promoter holding has also decreased by 6.11% in the last quarter.

The tea industry is subject to the cyclical nature of agriculture, dependence on weather conditions, and global commodity price fluctuations. However, the company's focus on producing quality tea through clonal varieties and its established market presence via industry associations provide operational advantages in a competitive landscape.