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Bengal Tea & Fabrics Ltd (532230)

📊 BSE: 532230 🏢 Tea & Coffee 📢 Latest filing: 12 Aug 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Bengal Tea's revenue was ₹9.2 Cr (+2.6% year on year, +130.8% on the previous quarter), and net profit ₹8.2 Cr (+37.0% year on year); the operating margin was 5.4%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹9.2	+2.6%	+130.8%
Operating profit	₹0.5	—	from loss
Net profit	₹8.2	+37.0%	from loss
EPS (₹)	9.12	+34.7%	from loss
Operating margin	5.4%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Bengal Tea & Fabrics Approves Q1 FY27 Results; Focus Remains on Tea Division Transition

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 12 Aug 2026, 01:02 PM

Bengal Tea & Fabrics Ltd has approved its unaudited financial results for the quarter ended June 30, 2026. The company is currently navigating a transition after closing its textile division and focusing on its tea business, which has an annual capacity of 24 lakh kgs. While specific Q1 figures were not detailed in the cover letter, the company enters this period following a volatile FY26 where it reported a TTM revenue of Rs 53 Cr and a net profit of Rs 5 Cr. Investors should note the company's strong balance sheet with a low debt-to-equity ratio of 0.05.

Board meeting conducted on August 12, 2026, to approve Q1 FY27 unaudited results.
Statutory auditors Jain & Co. issued a Limited Review Report for the period ended June 30, 2026.
Company maintains a low debt profile of Rs 9 Cr against a net worth of Rs 196 Cr.
Tea production capacity stands at 24 lakh kilograms per annum with 86% utilization in the previous fiscal.
Promoter holding remains stable at 74.89% as of the June 2026 quarter.

💡 Investors should examine the detailed financial tables for recovery in operating margins, which were squeezed to 4.04% in FY26. Key metrics to watch include tea realization prices (previously Rs 261.31/kg) and the progress of Orthodox tea exports to Russia and the UAE.

Ben g a l Tea & Fa b r i c s A p p r o v e s Q1 F Y 2 7 U n a u d i t e d F i n a n c i a l R e s u l t s

🟡 N E U T R A L ⭐ 6/10

E A R N I N G S 📅 12 Aug 2026, 12:54 PM

The Boar d of Directors of Ben g a l Tea & Fa b r i c s Ltd a p p r o v e d the unaudited financial results for the quarter ended June 30, 2026, in a meeting held on Aug u s t 12, 2026. This filing follows a volatile period where the com p a n y reported a n et los s of Rs 11 cr in the previous quarter (Mar c h 2026). With a TT M revenue of Rs 53 cr an d a mar k et cap of Rs 146 cr, the se results are critical to as s es s in g if the com p a n y has recovered from previous operational dip s. The statutory auditor s, Jain & Co., have is s ued a Limited Review Report on the se financial s.

Boar d meeting con c luded within 1 hour an d 45 minutes (11:00 a.m. to 12:45 p.m.) on Aug u s t 12, 2026
Ap p r o v a l of unaudited financial results for the quarter ended June 30, 2026
Com p a n y maintain s a low Debt-to-Eq uity ratio of 0.05 with a net worth of Rs 196 cr
Prom oter holdin g remain s stable at 74.89% as of June 2026

💡 Investor s should examine the detailed Q1 P&L to see if operatin g mar g in s have im p r o v ed from the 5.7% TT M average, es pecially after the operatin g los s in the precedin g quarter.

Bengal Tea & Fabrics Board Meeting on August 12, 2026, to Approve Q1 Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 27 Jul 2026, 12:05 PM

Bengal Tea & Fabrics has scheduled a board meeting for August 12, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. This follows a challenging March 2026 quarter where the company reported a net loss of ₹11.0 Cr on a low revenue base of ₹4.0 Cr. Investors will be monitoring for a recovery in tea realizations and production volumes, given the company's annual capacity of 24 lakh kgs. The trading window for designated persons has been closed since July 1, 2026.

Board meeting scheduled for August 12, 2026, to approve Q1 FY27 results
Trading window for insiders closed from July 1, 2026, until 48 hours post-results
Company reported a significant net loss of ₹11.0 Cr in the preceding March 2026 quarter
TTM revenue stands at ₹53 Cr against a market capitalization of ₹139 Cr

💡 Monitor the August 12 results to assess if the company has recovered from the weak March 2026 quarter and to check for progress on non-core asset monetization.

Bengal Tea & Fabrics Confirms Unmodified Audit Opinion for FY26 Standalone Results

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 13 Jul 2026, 01:08 PM

Bengal Tea & Fabrics Ltd has issued a formal declaration confirming that its statutory auditors, M/s. Jain & Co., have provided an unmodified opinion on the standalone financial results for the year ended March 31, 2026. This filing was made in response to a specific request from the BSE dated July 10, 2026. An unmodified opinion signifies that the auditor believes the financial statements present a true and fair view of the company's finances. This is a procedural compliance filing and does not introduce new financial data.

Statutory Auditors M/s. Jain & Co. issued an audit report with an unmodified opinion for FY26
Declaration pertains to the standalone financial results for the year ended March 31, 2026
Filing follows a regulatory query from the BSE received on July 10, 2026
Confirmation submitted under Regulation 33(3)(d) of SEBI LODR Regulations

💡 This is a routine administrative confirmation. Investors should refer to the actual FY26 earnings release for operational performance metrics like revenue and profit margins.

₹1.50 Dividend Declared; Bengal Tea & Fabrics Schedules 43rd AGM for August 7, 2026

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 10 Jul 2026, 02:54 PM

Bengal Tea & Fabrics has released its FY 2025-26 Annual Report and scheduled its 43rd AGM for August 7, 2026. The Board has recommended a dividend of ₹1.50 per equity share (15% of face value), with a cut-off date of July 31, 2026, for eligibility. Key management updates include the re-appointment of Mr. Kushagra Kanoria as Whole-Time Director for three years starting April 2027. Financial notes highlight an improved Return on Investment (ROI) for fixed income instruments at 9.82%, compared to 7.09% in the previous year.

Proposed dividend of ₹1.50 per equity share of ₹10 face value for FY 2025-26.
43rd Annual General Meeting (AGM) scheduled for August 7, 2026, via video conferencing.
Cut-off date for dividend and e-voting eligibility is Friday, July 31, 2026.
Re-appointment of Mr. Kushagra Kanoria as Whole-Time Director for a 3-year term effective April 1, 2027.
Return on Investment for fixed income instruments increased to 9.82% from 7.09% in the prior year.

💡 Investors should note the July 31, 2026 cut-off date for dividend eligibility and may review the full annual report for detailed segment-wise performance in tea and fabrics before the August 7 AGM.

Bengal Tea & Fabrics Announces Book Closure from Aug 1 to Aug 7, 2026 for 43rd AGM

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jul 2026, 12:10 PM

Bengal Tea & Fabrics Ltd has announced the closure of its Share Transfer Books and Register of Members for the purpose of its 43rd Annual General Meeting (AGM). The book closure period is scheduled from August 1, 2026, to August 7, 2026. This is a standard regulatory procedure under Regulation 42 of SEBI (LODR) Regulations, 2015. No dividend or other financial corporate actions were specified in this particular intimation.

Book closure period set for 7 days from August 1, 2026, to August 7, 2026
The closure is specifically for the company's 43rd Annual General Meeting
Intimation filed on July 9, 2026, providing approximately three weeks' notice before the closure start date

💡 Investors should look for the detailed AGM notice and annual report to understand the company's operational performance and any proposed resolutions.

Bengal Tea & Fabrics Announces ₹1.50 Dividend; 43rd AGM Scheduled for August 7, 2026

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 09 Jul 2026, 11:56 AM

Bengal Tea & Fabrics has scheduled its 43rd Annual General Meeting for August 7, 2026, to approve the FY25-26 financial statements and a dividend of ₹1.50 per share (15% of face value). The company reported a notable increase in Return on Investment (ROI) for fixed income instruments to 9.82%, up from 7.09% in the previous year. Key management actions include the re-appointment of Mr. Kushagra Kanoria as Whole-Time Director for a three-year term starting April 2027. Shareholders as of the July 31, 2026 cut-off date will be eligible for voting and dividend participation.

Proposed dividend of ₹1.50 per equity share (15% on face value of ₹10) for FY 2025-26
ROI on fixed income instruments improved to 9.82% from 7.09% in the previous fiscal year
ROI on liquid funds and equities declined by 23.50% to 7.02% in FY 2025-26
Re-appointment of Mr. Kushagra Kanoria as Whole-Time Director for 3 years effective April 1, 2027
Cut-off date for dividend and e-voting eligibility set for Friday, July 31, 2026

💡 Investors should track the AGM proceedings on August 7, 2026, for management's outlook on the tea and textile sectors and any updates on the company's investment portfolio performance.

View All 532230 Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The Tea division's Total Operating Income (TOI) was INR 49.52 Cr in FY23, representing a 10% decline from INR 55.15 Cr in FY22. However, in FY25, production volume grew by 24.56% to 20.69 lakh kgs and sales volume increased by 25.06% to 20.56 lakh kgs. The Textile division was discontinued in FY22, and the Real Estate division is being liquidated through asset sales.

Geographic Revenue Split

100% of the company's tea production is concentrated in Upper Assam, India, where it operates three estates (Ananda, Pathalipam, and Bordeobam) covering 626 hectares.

Profitability Margins

The Net Profit Ratio surged by 2,698.64% in FY25 due to the execution of disposal transactions for discontinued operations. In FY23, the PBILDT margin was a thin 0.06% (adjusted to 8.36% excluding inventory losses) compared to 18.07% in FY22. The moderation was driven by lower sales realizations and adverse climatic conditions.

EBITDA Margin

PBILDT margin was 0.06% in FY23, a significant drop from 18.08% in FY22. The decline was attributed to lower sales realizations and an inventory loss on land held under the Real Estate Division to arrive at its Net Realizable Value.

Capital Expenditure

The company has focused on monetizing non-core assets rather than major new CapEx, including the sale of 'Asarwa House' for INR 31 Cr in FY22 and a land parcel in Dholka in May 2023. Surplus funds are being invested, contributing to a Current Ratio of 12.00 in FY25.

Credit Rating & Borrowing

The company's long-term bank facilities were rated CARE BBB-; Stable. The rated amount was reduced from INR 22.00 Cr to INR 8.00 Cr before the rating was reaffirmed and withdrawn in July 2023 at the company's request. The company maintains a comfortable capital structure with an overall gearing of 0.06x as of March 31, 2023.

⚙️ Operational Drivers

Raw Materials

Green tea leaves (sourced from own estates and small growers) and Labor (representing 40% to 50% of total tea division expenditure).

Import Sources

100% of raw materials (green leaves) are sourced domestically from the company's own 626-hectare plantation and local small growers in Upper Assam.

Key Suppliers

The company procures green tea leaves from local small tea growers in Assam to supplement its own estate production.

Capacity Expansion

The current installed capacity is 24 lakh kilograms of black tea per annum as of March 31, 2023. Production in FY25 reached 20.69 lakh kgs, representing a capacity utilization of approximately 86%.

Raw Material Costs

Labor costs are the primary operational expense, accounting for 40-50% of total costs. Average tea realization increased by 8.31% YoY to INR 261.31/kg in FY25, helping offset rising production costs.

Manufacturing Efficiency

Production efficiency improved in FY25 with a 24.56% increase in output. The company processes both CTC and Orthodox varieties of black tea.

Logistics & Distribution

The company sells black tea through reputed customers with established brands and through auction platforms.

📈 Strategic Growth

Expected Growth Rate

25%

Growth Strategy

Growth is driven by the monetization of non-core assets (Asarwa Mill and Dholka land) to maintain a net debt-free position and reinvesting in the tea division. The company is focusing on high-quality Orthodox teas to capture better realizations in export markets like Russia, Iran, and the UAE.

Products & Services

Black Tea (CTC and Orthodox varieties) and Real Estate (liquidation of non-core land parcels).

Brand Portfolio

The company sells tea to reputed customers with established brands; specific proprietary brand names for retail are not disclosed.

New Products/Services

Innovation in flavors, packaging, and specialty blends is expected to drive future growth, though specific revenue contribution percentages for new launches are not disclosed.

Market Expansion

Targeting export markets for Orthodox teas, specifically Russia, Iran, and the UAE, where better realizations are expected.

Market Share & Ranking

India produced 1,297 million kgs of black tea in FY25; BTFL's production of 2.069 million kgs represents approximately 0.16% of national production.

Strategic Alliances

The company participates in ATISIS/TRUSTEA programs for specialty and orthodox tea development.

🌍 External Factors

Industry Trends

The Indian tea industry is evolving toward herbal and specialty segments driven by wellness trends. All-India average tea prices rose 22% in FY25 to INR 201.39/kg due to lower overall crop yields.

Competitive Landscape

Competes with other large tea plantation companies in Assam and cheaper imports that put pressure on domestic realizations.

Competitive Moat

The company's moat is based on its 40-year operational track record and its location in Upper Assam, India's premier tea-growing region, which ensures access to high-quality green leaves.

Macro Economic Sensitivity

Highly sensitive to global tea prices and domestic consumption trends. Per capita consumption in India remains lower than global peers.

Consumer Behavior

Shifting toward wellness-oriented products, increasing demand for herbal, specialty, and flavored tea blends.

Geopolitical Risks

Export potential is linked to the geopolitical stability of key markets such as Iran and Russia.

⚖️ Regulatory & Governance

Industry Regulations

Tea plantation labor wages are strictly regulated and revised by government authorities, directly impacting the company's largest cost head (40-50% of total expenditure).

Environmental Compliance

The company is susceptible to climate change and global warming, which have led to unpredictable weather patterns affecting harvest quality.

Taxation Policy Impact

The company noted a non-recurring impact on ratios due to the non-consideration of Income Tax for earlier years.

Legal Contingencies

The company reported 4 investor complaints during FY25, with 3 resolved and 1 pending as of March 31, 2025. Specific values for pending court cases are not disclosed.

⚠️ Risk Analysis

Key Uncertainties

Climatic volatility (floods/droughts) and labor availability/wage hikes are the primary uncertainties, with the potential to impact profitability by over 10-15% in adverse years.

Geographic Concentration Risk

100% of tea operations are concentrated in a single region (Upper Assam), making the company highly vulnerable to regional weather patterns and local labor strikes.