James Warren Tea Ltd (538564)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, James Warren's revenue was ₹17.4 Cr (-33.0% year on year, +481.0% on the previous quarter), and net profit ₹9.5 Cr (-32.5% year on year); the operating margin was 25.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹17.4 | -33.0% | +481.0% |
| Operating profit | ₹4.4 | -56.2% | from loss |
| Net profit | ₹9.5 | -32.5% | from loss |
| EPS (₹) | 25.55 | -33.6% | from loss |
| Operating margin | 25.1% | — | — |
📢 Recent Corporate Announcements
James Warren Tea Limited has completed the dispatch of the Notice for its 17th Annual General Meeting (AGM) along with the Annual Report for FY 2025-26 to its shareholders. The documents were sent via electronic mode and physical letters with weblinks for unregistered email holders pursuant to Regulation 30 and 36(1)(b) of SEBI LODR Regulations. This is a routine compliance filing with no operational or financial impact on the company.
- Notice of the 17th Annual General Meeting dispatched to shareholders
- Annual Report for FY 2025-26 circulated electronically and via physical weblink intimations
- Filing completed on August 18, 2026, in compliance with SEBI LODR Regulation 30 and Regulation 36(1)(b)
James Warren Tea Ltd has announced that its 17th Annual General Meeting (AGM) will be held on September 9, 2026, at 12:30 PM IST via Video Conferencing/OAVM. In connection with the AGM, the Register of Members and Share Transfer Books will remain closed from September 3, 2026, to September 9, 2026 (both days inclusive). The cut-off date to determine the eligibility of members for voting at the AGM is set as September 2, 2026. This is a routine statutory intimation pursuant to Regulation 42 of SEBI LODR Regulations, 2015.
- 17th Annual General Meeting scheduled for September 9, 2026, at 12:30 PM IST via VC/OAVM
- Share transfer books and register of members closed from September 3, 2026, to September 9, 2026
- Cut-off date for shareholder voting eligibility fixed as September 2, 2026
James Warren Tea Limited has scheduled its 17th Annual General Meeting (AGM) for September 9, 2026, via video conferencing. Key resolutions include the adoption of FY26 audited accounts and a one-year re-appointment of Mr. Sandip Das as Whole-time Director effective July 25, 2026. Disclosed FY26 analytical ratios reflect a normalization after FY25 estate sales, with Return on Equity at 6.44% (vs. 74.08% in FY25) and ROCE at 6.93% (vs. 75.97% in FY25). Unquoted mutual fund investments stood at ₹134.60 Cr (₹13,460.20 Lakhs) as of March 31, 2026.
- 17th AGM scheduled for September 9, 2026, at 12:30 PM IST via video conferencing.
- Proposed re-appointment of Mr. Sandip Das as Whole-time Director for a period of 1 year starting July 25, 2026.
- FY26 Return on Equity reported at 6.44%, down 91.31% from 74.08% in FY25 due to reduced net profit following FY25 asset sales.
- Reported unquoted mutual fund investments of ₹13,460.20 Lakhs as of March 31, 2026 compared to ₹12,900.56 Lakhs in FY25.
James Warren Tea Limited has submitted its Annual Report for FY26 along with the Notice of its 17th Annual General Meeting (AGM) scheduled for September 9, 2026. Key agenda items include the adoption of FY26 financial statements and the re-appointment of Mr. Sandip Das as Whole-Time Director for a one-year term effective July 25, 2026. Financial disclosures in the report highlight FY26 Return on Equity (ROE) at 6.44% (down from 74.08% in FY25, which included tea estate sale gains) and ROCE at 6.93%. The balance sheet remains debt-free with substantial liquid mutual fund investments of ₹13,460.20 lakh (₹134.60 crore) as of March 31, 2026.
- 17th AGM to be held virtually via VC/OAVM on September 9, 2026, at 12:30 PM IST.
- Special resolution proposed for re-appointment of Mr. Sandip Das as Whole-Time Director for 1 year from July 25, 2026.
- FY26 analytical ratios report Net Profit Margin at 11.24%, ROE at 6.44%, and ROCE at 6.93%.
- Current ratio stood strong at 9.05 with zero long-term/short-term debt and ₹13,460.20 lakh held in unquoted mutual funds.
James Warren Tea reported a significant 33% YoY decline in revenue to Rs 17.44 Cr for the quarter ended June 2026. Net profit followed suit, falling 33.6% to Rs 9.45 Cr from Rs 14.24 Cr in the year-ago period. The decline reflects a smaller operational base following the disposal of two tea estates in FY25 and the inherent seasonality of the tea business. While YoY performance is down, the company successfully returned to profitability after a heavy loss of Rs 21 Cr in the preceding March 2026 quarter.
- Revenue from operations fell 33% YoY to Rs 17.44 Cr from Rs 26.05 Cr.
- Net profit decreased to Rs 9.45 Cr compared to Rs 14.24 Cr in Q1 FY26.
- Earnings Per Share (EPS) for the quarter stood at Rs 25.55, down from Rs 38.49 YoY.
- Total expenses were marginally lower at Rs 11.14 Cr vs Rs 11.72 Cr in the previous year's corresponding quarter.
- The 17th Annual General Meeting (AGM) is scheduled for September 9, 2026.
James Warren Tea reported a Q1 FY27 net profit of Rs 9.45 Cr, a significant decline from Rs 14.24 Cr in the same quarter last year. While revenue from operations grew marginally by 4.2% to Rs 17.43 Cr, total expenses surged by 82% to Rs 18.20 Cr. This margin compression was primarily driven by higher material costs (Rs 7.51 Cr) and employee benefits (Rs 11.38 Cr). The company has scheduled its 17th Annual General Meeting for September 9, 2026.
- Net Profit declined 33.6% YoY to Rs 9.45 Cr from Rs 14.24 Cr in Q1 FY26
- Total Expenses jumped 82% YoY to Rs 18.20 Cr, exceeding the quarter's revenue
- Revenue from operations increased slightly to Rs 17.43 Cr from Rs 16.73 Cr YoY
- Employee benefit expenses rose 22% YoY to Rs 11.38 Cr
- 17th AGM scheduled for September 9, 2026, with a record date of September 2, 2026
James Warren Tea Ltd has scheduled a board meeting for August 8, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. The company is coming off a volatile period, having reported a significant net loss of ₹21.0 crore in the March 2026 quarter on revenue of just ₹3.0 crore. Investors will be looking for a recovery toward the levels seen in the June 2025 quarter, which recorded a profit of ₹14.0 crore. The trading window for insiders has been closed since July 1, 2026, in compliance with SEBI regulations.
- Board meeting scheduled for August 8, 2026, to approve Q1 FY27 results
- Trading window for insiders closed from July 1, 2026, until 48 hours post-announcement
- Previous year's comparable quarter (Jun 2025) reported revenue of ₹26.0 crore
- Most recent quarter (Mar 2026) saw a sharp net loss of ₹21.0 crore
Financial Performance
Revenue Growth by Segment
The company operates primarily in the tea segment. While specific segment revenue growth is not disclosed, India's overall tea production declined by 7.82% YoY (from 1,394 million kg to 1,285 million kg) in 2024, which likely impacted domestic volume growth.
Geographic Revenue Split
The company is a major exporter to Germany, UK, USA, and the Middle East. Foreign exchange earnings for the year were INR 6.18 Cr (618.13 Lakhs), while foreign exchange outgo was INR 4.56 Cr (456.01 Lakhs).
Profitability Margins
Profitability is under pressure as selling prices fail to keep pace with rising input costs. The average net profit for the purpose of CSR calculation was INR 0.0672 Cr (6.72 Lakhs).
Capital Expenditure
The company disposed of two major assets, Dhoedaam Tea Estate and Rajah Alli Tea Estate, on a going concern basis during FY25. Expenditure on Research and Development was NIL.
Operational Drivers
Raw Materials
Tea leaves (100% internally sourced), fertilizers, pesticides, and fuel (gas, electricity, diesel).
Import Sources
Not disclosed, but tea estates are located in the South Bank, Upper Assam belt.
Capacity Expansion
The company currently operates four tea estates in Upper Assam. Capacity was reduced during the year following the disposal of the Dhoedaam and Rajah Alli Tea Estates.
Raw Material Costs
Raw material costs are rising due to the escalation of prices for pesticides and fertilizers. The company maintains a policy of not purchasing 'bought leaf' to ensure 100% quality control and traceability.
Manufacturing Efficiency
Efficiency is driven by the modernization of equipment and regular workshops for staff on agricultural practices and manufacturing processes.
Strategic Growth
Growth Strategy
The company aims to achieve growth by focusing on increasing the yield and quality of its CTC and Orthodox teas. It is diversifying its portfolio to include health-oriented tea varieties to capture growing domestic demand and expanding its presence in high-value international markets like the USA and Germany.
Products & Services
CTC Tea and Orthodox Tea.
Brand Portfolio
James Warren Tea.
New Products/Services
Introduction of a wide range of tea varieties to cater to health-conscious consumer preferences.
Market Expansion
Focus on major export markets including Germany, UK, USA, and the Middle East.
External Factors
Industry Trends
Global tea production increased to 7,053 million kg in 2024, while Indian production fell 7.82%. There is a notable industry shift toward diversified, health-focused tea portfolios.
Competitive Landscape
Competes with both domestic Indian tea producers and global producers in a market where world production is increasing (up 4.84% YoY).
Competitive Moat
The company's moat is based on its location in the 'top quality belt' of South Bank, Upper Assam, and its 'no bought leaf' policy, which ensures superior quality and 100% traceability compared to competitors who mix leaves.
Macro Economic Sensitivity
Highly sensitive to global tea production trends (which grew 4.84% in 2024) and domestic consumption shifts driven by health trends.
Consumer Behavior
Increasing domestic consumption in India is being driven by the perceived health benefits of tea.
Regulatory & Governance
Industry Regulations
Operations are governed by the Tea Act 1953, Tea Rules 1954, Plantations Labour Act 1951, and various Tea Control Orders (Distribution, Export, Waste, and Marketing).
Environmental Compliance
CSR activities include planting avenue trees and forestry projects to promote a pollution-free environment.
Legal Contingencies
No significant material orders were passed by regulators or courts impacting the company's going concern status during the year.
Risk Analysis
Key Uncertainties
Climate change and global warming pose a high risk to tea quality and harvest volumes. Additionally, the mismatch between rising input costs (wages/fuel) and stagnant selling prices is a critical business risk.
Geographic Concentration Risk
High; 100% of the company's tea estates are located in Upper Assam.
Third Party Dependencies
Low for raw materials (self-sourced leaf), but high for energy utilities and labor.
Technology Obsolescence Risk
Low; however, the company is continuously upgrading factory equipment to maintain manufacturing efficiency.
