Andrew Yule & Company Ltd share Price

Andrew Yule & Company Ltd is a medium-large Indian manufacturing and industrial conglomerate, approximately 97.5% owned by the Indian Government. The company operates in four segments: Engineering, Electrical, Tea and Printing. The company`s Engineering segment is engaged in the manufacture of industrial fans, tea machinery, air pollution and water pollution control equipments and turn-key projects. The Electrical segment is engaged in the manufacture of high temperature (HT) and low temperature (LT) switchgears, transformers, relay and contactors turn-key projects on power distribution. Their Tea segment is engaged in tea growing and manufacturing. They are the main company owned by the Yule Group. Andrew Yule & Company Ltd was incorporated in the year 1919 as a private limited company. After India gained independence from the British empire, the company was converted into public limited company in the year 1948. They became a Central Public Sector Enterprise (Schedule B Company) in the year 1979 with the acquisition of 49% equity share in 1974 and 2% in 1979 by Government of India. At present, Govt. of India holds 97.46%, Financial Institutions holds 0.33% and the balance 2.21% is widely held by Public, Bodies Corporate etc. The company originally exported tea in bulk to the USSR. In late 1993, they entered the domestic market with their first brand, Yule Red. During the year 1995-96, they obtained ISO 9001 certification for their Electrical Division. During the year 1999-2000, tea estate in Assam obtained accreditation of ISO 9002 system. Also, the Mim Tea Estate at Darjeeling obtained ISO 14001 Environment Management System which is a rare distinction in the tea industry. During the year 2007-08, as a part of the company revival package, they were required to spin off their electrical and heavy engineering business Hence the company formed two new wholly owned subsidiaries, namely Yule Engineering Ltd and Yule Electrical Ltd as per BIFR directive. During the year 2010, the company discontinued certain operations from the Engineering division, which included air handling unit (AHU), core lamination project (CLP) and project, and Electrical division, which included Port Engineering Works (PEW), turnkey and agency. During the year, as per the BIFR sanctioned scheme, the company`s divested 26% holdings in the joint venture company, Phoenix Yule Ltd, where Phoenix AG of Germany was the joint venture partner with 74% stake. In addition, the company received from Phoenix Yule Ltd a sum of Rs1.30 crores by granting them to use their `YULE` Trade Mark for a period of two years and Rs 2.40 crores for agreeing not to compete with them for a period of ten years, from the date of the Agreement. A per the BIFR sanctioned Scheme, the company decided to disinvest their 15.20% stakes in DPSC Ltd. SREI Infrastructure Finance Ltd emerged as the highest bidder for the acquisition of stakes in DPSC Ltd.