NSE: ROSSELLIND · BSE: 533168
ROSSELL INDIA LIMITED
Cultivates, manufactures and sells tea from 7 estates in Assam, which is its only business segment and accounts for 100% of segment revenue. FY26 segment revenue was Rs 225.82 crore with an EBIT margin of 10.9%. The business is highly seasonal — quarterly segment revenue runs from Rs 16.2 crore in Q4 FY26 to Rs 85.19 crore in Q3 FY26, reflecting the tea cropping cycle in which Q4 makes and sells very little. Roughly a quarter of revenue (25.09%, per the BRSR) comes from exports. The workforce is the dominant cost — employee expenses of Rs 138.6 crore equate to 61.3% of revenue — because tea cultivation is labour-intensive, supported by 595 employees and 12,965 workers. FY26 revenue grew 24.6%, partly on the first full year of consolidation of Dhoedaam Tea Estate, acquired in January 2025, but net profit fell 19.5% to Rs 15.86 crore as employee costs and finance charges rose. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Cultivation, Manufacture and Sale of Tea (100%). Seasonal, agriculture-based, single-commodity tea producer with labour-heavy cost structure.
Exhibit 1: Financial summary, FY21–FY24 (all audited; no estimate years)
| ₹ crore · consolidated | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|
| Revenue | 322 | 299 | 354 | 367 |
| EBITDA (ex other income) | 67 | 52 | 53 | 38 |
| margin % | 20.9 | 17.3 | 14.9 | 10.3 |
| Owners' profit | 33 | 30 | 28 | 13 |
| EPS, as reported (₹) | 8.97 | 8.18 | 7.48 | 3.38 |
| ROE % · ROCE % | 15.2 · 22.7 | 12.2 · 15.9 | 9.6 · 14.1 | 4.3 · 9.7 |
| Debt / equity (x) | 0.78 | 0.62 | 0.56 | 0.65 |
| Cash from operations | 36 | 33 | 26 | 6 |
| Capex | (10) | (15) | (26) | (16) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 119 | 97 | 68 | 70 | 119 | 111 | 68 | 75 |
| Profit before tax | 42 | 0 | (17) | 1 | 29 | 3 | (17) | 2 |
| Net profit | 36 | 0 | (14) | 1 | 24 | 2 | (15) | 2 |
| EPS (₹) | 9.93 | 0.07 | (3.97) | 0.34 | 6.46 | 0.52 | (3.95) | 0.64 |
Exhibit 3: Segment revenue, FY24
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Aviation Products and Services | 99 | 26.9 |
| Cultivation, Manufacture and Sale of Tea | 151 | 41.0 |
| Aviation Products and services | 118 | 32.1 |
| Total, before eliminations | 368 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CONSUMER PRODUCT LTD | 94,200 | 57.6 | 4.06 | 31.8 | 6.7 | 7.8 | 11.8 | 14.9 |
| CCL PRODUCTS (I) LTD | 14,094 | 32.5 | 6.01 | 20.5 | 16.6 | 16.2 | 29.1 | 16.4 |
| VINTAGE COFFEE N BVRGS L | 2,557 | 32.4 | 4.49 | 24.1 | 12.7 | 14.0 | — | 20.6 |
| ANDREW YULE & CO. LTD. | 1,193 | — | 3.67 | — | (5.9) | (9.5) | (2.2) | (44.3) |
| GOODRICKE GROUP LTD. | 470 | 18.4 | 1.55 | — | 8.4 | 5.0 | — | (22.7) |
| THE P K TEA PROD CO LTD | 278 | 51.6 | 1.46 | 23.8 | 2.8 | 3.2 | — | 50.0 |
| JAYSHREE TEA & INDUSTRIES | 240 | — | 0.60 | 20.5 | (6.3) | (5.1) | 3.0 | 4.9 |
| UNITED NILGIRI TEA LTD | 201 | 9.9 | 0.83 | — | 9.1 | 10.4 | — | 43.5 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.0 | 14.9 | 9 of 18 | 53% |
| P/B | 0.7 | 0.7 | 12 of 27 | 54% |
| ROCE | 5.0 | 3.0 | 10 of 26 | 64% |
| ROE | 4.3 | 2.3 | 11 of 27 | 62% |
| Debt / Equity | 0.7 | 0.2 | 22 of 26 | 16% |
| EBITDA margin | 13.2 | 11.9 | 13 of 26 | 52% |
| Revenue growth | 6.5 | 1.6 | 11 of 25 | 58% |
| Profit growth | 88.4 | 18.5 | 6 of 27 | 81% |
| Market cap | 194 | 113 | 10 of 27 | 65% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Filing of quarterly compliance certificate under SEBI Reg 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closure Ahead of Q2 Results | compliance | minimal | — | — |
| 21 Sept 2026 · Clarification on Whole Time Director appointment | management changes | medium | — | — |
| 25 Aug 2026 · AGM approves MD and Whole-Time Director re-appointments | management changes | high | — | — |
| 25 Aug 2026 · AGM voting outcome: 9 resolutions passed, Rs 0.40 dividend approved | compliance | minimal | — | — |
| 25 Aug 2026 · Rossell India 32nd AGM held on 25 Aug 2026 via video conferencing | board shareholder meetings | low | — | — |
| 8 Aug 2026 · Newspaper publication of Q1FY27 unaudited financial results | compliance | minimal | — | — |
| 7 Aug 2026 · Q1 FY27 results: PAT falls 52% YoY to Rs 381 lakh; CFO to retire | results | high | — | — |
| 7 Aug 2026 · Q1 FY27 results: profit down 52pct, revenue dips 16pct; CFO and CS appointed | results | high | — | — |
| 29 Jul 2026 · Newspaper publication of 32nd AGM notice | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.