Warren Tea Ltd

₹ 45.2 0.04%

23 Sep - close price

About

Warren Tea Limited is now mainly a treasury/property-income company with a 46.92% stake in hospitality company Maple Hotels & Resorts. It exited tea plantation and manufacturing after selling its four remaining Assam estates in FY23. Its proposed merger
into Maple awaits the NCLT's final order.^[1]

Key Points

Business transition:^[1]
Warren was an integrated producer of
black CTC and orthodox tea from its own
leaf. It sold bulk tea mainly through domestic auctions /private sales and offered export customers packaged tea, caddies and tea
bags. This is now a legacy business: all plantations/factories were sold in FY23.

Website BSE

Market Cap ₹ 54.0 Cr.
Current Price ₹ 45.2
High / Low ₹ 56.8 / 33.3
Stock P/E
Book Value ₹ 79.6
Dividend Yield 0.00 %
ROCE -1.83 %
ROE -0.66 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.57 times its book value

Cons

Company has low interest coverage ratio.
Company has a low return on equity of 0.18% over last 3 years.
Promoter holding has decreased over last 3 years: -7.70%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Fast Moving Consumer Goods Fast Moving Consumer Goods Agricultural Food & other Products Tea & Coffee

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	0.00	0.00	14.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.91	0.77	27.30	1.82	0.78	0.65	0.71	0.56	0.87	0.80	0.77	0.71	0.90
Operating Profit	-0.91	-0.77	-12.93	-1.82	-0.78	-0.65	-0.71	-0.56	-0.87	-0.80	-0.77	-0.71	-0.90
OPM %			-89.98%
	0.46	2.10	-0.17	1.10	0.77	0.47	2.37	1.02	0.35	0.40	0.36	-1.19	0.40
Interest	0.00	0.08	0.46	0.04	0.00	0.07	0.04	0.04	0.00	0.07	0.03	0.04	0.03
Depreciation	0.09	0.16	0.60	0.08	0.05	0.12	0.09	0.06	0.05	0.11	0.09	0.08	0.09
Profit before tax	-0.54	1.09	-14.16	-0.84	-0.06	-0.37	1.53	0.36	-0.57	-0.58	-0.53	-2.02	-0.62
Tax %	0.00%	0.00%	0.00%	55.95%	0.00%	0.00%	0.00%	227.78%	0.00%	0.00%	0.00%	-15.84%	0.00%
	-0.52	0.85	-13.08	-0.14	-0.72	-0.64	2.37	0.75	-1.21	-1.22	0.66	-0.63	-1.20
EPS in Rs	-0.43	0.71	-10.90	-0.12	-0.60	-0.53	1.98	0.62	-1.01	-1.02	0.55	-0.52	-1.00
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	138.05	109.71	118.99	118.50	122.91	105.93	89.74	57.62	0.00	0.00	0.00	0.00
	132.56	129.32	123.76	135.77	148.27	100.51	93.72	83.15	4.24	2.70	3.15	3.18
Operating Profit	5.49	-19.61	-4.77	-17.27	-25.36	5.42	-3.98	-25.53	-4.24	-2.70	-3.15	-3.18
OPM %	3.98%	-17.87%	-4.01%	-14.57%	-20.63%	5.12%	-4.44%	-44.31%
	4.73	1.85	1.38	1.01	1.74	22.26	13.86	51.63	4.37	4.63	-0.08	-0.03
Interest	0.76	2.32	3.75	4.04	5.33	4.89	2.53	1.91	0.16	0.15	0.14	0.17
Depreciation	3.32	3.62	3.64	3.47	2.73	2.48	1.99	1.55	0.36	0.32	0.33	0.37
Profit before tax	6.14	-23.70	-10.78	-23.77	-31.68	20.31	5.36	22.64	-0.39	1.46	-3.70	-3.75
Tax %	25.41%	-31.31%	-26.81%	-33.02%	-23.71%	-59.68%	-32.46%	121.91%	120.51%	56.16%	-8.65%
	3.80	-10.72	-8.38	-15.77	-24.40	30.50	6.46	-3.63	0.29	1.76	-2.40	-2.39
EPS in Rs	3.17	-8.93	-6.98	-13.14	-20.33	25.42	5.38	-3.02	0.24	1.47	-2.00	-1.99
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	25%
TTM:	-142%

Stock Price CAGR
10 Years:	-10%
5 Years:	-11%
3 Years:	-5%
1 Year:	-16%

Return on Equity
10 Years:	-7%
5 Years:	-4%
3 Years:	0%
Last Year:	-1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	11.95	11.95	11.95	11.95	11.95	11.95	11.95	11.95	11.95	11.95	11.95
Reserves	112.24	96.76	92.22	80.20	59.72	92.17	98.19	79.75	82.97	86.03	83.53
	10.31	25.71	33.35	39.50	51.07	18.02	21.60	1.73	1.64	1.54	1.43
	52.55	56.89	49.41	66.59	73.40	55.64	32.67	31.46	11.26	8.76	8.62
Total Liabilities	187.05	191.31	186.93	198.24	196.14	177.78	164.41	124.89	107.82	108.28	105.53
	66.33	68.91	69.34	70.90	76.14	51.20	40.33	4.87	5.92	5.68	5.80
CWIP	1.17	12.47	15.17	17.28	17.03	4.04	16.46	0.00	0.00	0.00	0.00
Investments	36.50	41.67	41.62	41.78	41.55	39.63	39.40	47.17	52.24	55.59	54.92
	83.05	68.26	60.80	68.28	61.42	82.91	68.22	72.85	49.66	47.01	44.81
Total Assets	187.05	191.31	186.93	198.24	196.14	177.78	164.41	124.89	107.82	108.28	105.53

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2.64	-17.49	2.70	6.86	-0.59	-12.22	-5.15	-51.80	0.29	-9.48	-3.14
	-3.23	-9.75	-6.63	-9.00	-5.99	51.48	7.17	90.20	-6.06	-0.85	2.46
	6.95	13.14	3.92	2.10	6.55	-37.42	-2.82	-22.02	-0.16	-0.15	-0.14
Net Cash Flow	6.36	-14.10	-0.02	-0.03	-0.03	1.84	-0.81	16.38	-5.93	-10.48	-0.82
Free Cash Flow	-2.12	-27.42	-4.28	-2.18	-7.86	39.26	2.13	45.71	-0.04	-9.56	-3.58
CFO/OP	52%	93%	-57%	-40%	-1%	-204%	75%	211%	6%	351%	95%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	96.80	153.24	121.29	89.02	53.63	51.51	50.35	32.50
Inventory Days							217.88	0.00
Days Payable							497.30
Cash Conversion Cycle	96.80	153.24	121.29	89.02	53.63	51.51	-229.06	32.50
Working Capital Days	47.19	23.95	-9.91	-90.99	-124.70	-77.63	-93.43	59.80
ROCE %		-16.06%	-5.18%	-14.66%	-20.72%	4.05%	4.21%	-20.07%	-1.38%	1.47%	-1.83%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Number of Tea Estates
count

	x	x	x	x	x	x	x	x	x	x
	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx		xx	xx	xx
x,xxx	x,xxx	x,xxx	x,xxx	x,xxx		x,xxx		x,xxx
			xxx	xxx

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Saleable Crop (Tea Production Volume)
Million Kgs

Permanent Employees
count

Tea Garden Area
Hectares

Average Tea Realization
Rs/Kg

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.72%	73.72%	73.72%	73.72%	73.72%	73.72%	73.72%	66.02%	66.02%	66.02%	66.02%	66.02%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.02%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.01%	1.01%
	26.27%	26.28%	26.28%	26.28%	26.27%	26.28%	26.29%	33.95%	33.97%	33.99%	32.97%	32.94%
No. of Shareholders	10,178	10,242	10,460	10,562	10,580	11,052	11,160	11,113	11,051	10,964	10,950	10,908

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	74.87%	74.61%	73.72%	73.72%	73.72%	73.72%	73.72%	73.72%	73.72%	66.02%	66.02%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.01%	1.01%
	25.12%	25.39%	26.28%	26.28%	26.28%	26.28%	26.28%	26.28%	26.29%	32.97%	32.94%
No. of Shareholders	11,166	11,055	10,858	10,586	10,390	10,503	10,373	10,460	11,160	10,950	10,908

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Warren Tea Ltd

Warren Tea Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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