NSE: UNITEDTEA
UNITED NILGIRI TEA LTD
Operates tea estates and sells Nilgiri tea as its main line of business, while a small property segment leases out real estate assets. In FY26, the plantation segment accounted for 92.1% of segment revenue and posted EBIT of Rs 16.42 crore. The property segment contributed the remaining 7.9% of segment revenue and EBIT of Rs 4.41 crore. Total income for FY26 stood at Rs 83.35 crore, with net profit of Rs 21.94 crore. The largest cost lines are employees at 28.6% of revenue, other operating expenses at 27.9%, materials at 21.0%, depreciation at 4.2%, and capex at 4.3%. The company is part of the Amalgamations Group and its shares are listed on the NSE. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Plantation (92%), Property (8%). Asset-heavy tea plantation with a small property leasing segment
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 76 | 84 | 84 | 90 | 83 |
| EBITDA (ex other income) | 11 | 14 | 16 | 15 | 20 |
| margin % | 14.7 | 16.4 | 19.6 | 17.1 | 23.8 |
| Owners' profit | 0 | 12 | 16 | 19 | 22 |
| EPS, as reported (₹) | 20.59 | 20.59 | 32.13 | 37.04 | 43.91 |
| ROE % · ROCE % | — · — | 6.5 · 7.8 | 7.9 · 9.7 | 8.4 · 9.4 | 9.1 · 10.5 |
| Debt / equity (x) | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 13 | 1,506 | 8 | 21 | 13 |
| Capex | (4) | (448) | (2) | (4) | (4) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 25 | 23 | 19 | 22 | 21 | 24 | 16 | 20 |
| Profit before tax | 7 | 5 | 5 | 9 | 6 | 7 | 4 | 8 |
| Net profit | 6 | 5 | 4 | 8 | 5 | 5 | 4 | 6 |
| EPS (₹) | 12.89 | 9.04 | 7.66 | 16.05 | 9.88 | 10.65 | 7.33 | 12.76 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Plantation | 77 | 92.1 |
| Property | 7 | 7.9 |
| Total, before eliminations | 83 | 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 | 98,980 | 60.5 | 4.27 | 33.4 | 6.7 | 7.8 | 11.8 | 14.9 |
| CCL PRODUCTS (I) LTD | 12,529 | 28.9 | 5.34 | 18.4 | 16.6 | 16.2 | 29.1 | 16.4 |
| VINTAGE COFFEE N BVRGS L | 2,229 | 28.3 | 3.92 | 21.1 | 12.7 | 14.0 | — | 20.6 |
| ANDREW YULE & CO. LTD. | 1,109 | — | 3.41 | — | (5.9) | (9.5) | (2.2) | (44.3) |
| GOODRICKE GROUP LTD. | 457 | 17.9 | 1.51 | — | 8.4 | 5.0 | — | (22.7) |
| JAYSHREE TEA & INDUSTRIES | 233 | — | 0.59 | 20.3 | (6.3) | (5.1) | 3.0 | 4.9 |
| THE P K TEA PROD CO LTD | 206 | 38.1 | 1.08 | 17.7 | 2.8 | 3.2 | — | 50.0 |
| UNITED NILGIRI TEA LTD ◆ | 202 | 10.0 | 0.84 | — | 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) | 10.0 | 14.7 | 7 of 18 | 65% |
| P/B | 0.8 | 0.6 | 18 of 27 | 35% |
| ROCE | 10.4 | 3.0 | 5 of 26 | 84% |
| ROE | 9.1 | 2.3 | 5 of 27 | 85% |
| Debt / Equity | 0.0 | 0.2 | 1 of 26 | 84% |
| EBITDA margin | 43.5 | 11.9 | 5 of 26 | 84% |
| Revenue growth | (10.5) | 1.6 | 19 of 25 | 25% |
| Profit growth | (20.5) | 18.5 | 17 of 27 | 39% |
| Market cap | 202 | 112 | 8 of 27 | 73% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Compliance certificate under SEBI Regulation 74(5) for Sep 2026 quarter | compliance | minimal | — | — |
| 23 Sept 2026 · Trading window closure from Oct 1, 2026 pending Q2 results | compliance | minimal | — | — |
| 11 Aug 2026 · Independent Director retires after second term at United Nilgiri Tea | management changes | medium | — | — |
| 8 Aug 2026 · 104th AGM voting results: all 4 resolutions passed unanimously | board shareholder meetings | low | — | — |
| 8 Aug 2026 · United Nilgiri Tea posts Q1 FY27 results, profit up 74% YoY | compliance | minimal | — | — |
| 7 Aug 2026 · United Nilgiri Tea holds 104th AGM, confirms dividend and new independent director | board shareholder meetings | low | — | — |
| 6 Aug 2026 · Q1 FY27 results: revenue and profit decline YoY | results | high | — | — |
| 11 Jul 2026 · 104th AGM notice published, book closure Aug 1-7 for final dividend | compliance | minimal | — | — |
| 10 Jul 2026 · Annual Report 2025-26 web link sent to shareholders | general | low | — | — |
| 10 Jul 2026 · Notice of 104th AGM on August 7, 2026 via Video Conferencing | board shareholder meetings | low | — | — |
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.