Jay Shree Tea & Industries gets nod to demerge its sugar division

05 Aug 2015 Evaluate

Jay Shree Tea & Industries has received an approval to demerge the sugar division of the company situated at Bihar into a subsidiary through a proposed scheme of arrangement. The board of directors at their meeting held on August 04, 2015 has approved for the same.

The company will demerge the sugar division of the company into Majhaulia Sugar Industries, a subsidiary of the company. The sugar mill, situated at Majhaulia in West Champaran district of Bihar, has been making losses in the recent quarters as sugar price fell below the cost of production due to weak demand and mounting stockpiles.

Jay Shree Tea & Industries has adopted a marketing strategy to provide Garden Fresh Tea to all its clients. Besides tea, the company manufactures Single Super phosphate and Sulphuric Acid in its Chemical Plants.


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