HAVUKAL TEA AND PRODUCE COMPANY PRIVATE LIMITED

­Acuite has reaffirmed its long-term rating of and short-term rating of on the Rs. 7. 5 Cr. bank facilities of Havukal Tea and Produce Company Private Limited (HTPCPL). The outlook is The rating reaffirmation takes into account the stable operating and financial performance of Havukal Group, marked by stable operating income and a moderate financial risk profile. The group generated an operating income of Rs. 54. in FY2023 as against Rs. with improvements in operating margins driven by cost savings and automation in processes adopted by the group. The financial risk profile of the group remains moderate in FY2023 with marginal improvement observed in debt protection metrics. With the expected improvement in operating performance, the overall leverage levels and debt protection metrics is expected to improve. Going forward, significant and sustainable improvement in scale of operations and profitability levels will be a key monitorable aspect. The company is engaged in manufacturing of Orthodox black tea. The Present Directors of the company are Mr. Anandkumar Rengaswamy, Mr. Thangavelu Jayaraman, Mr. Nandakumar Ramaswami and Mr. The registered office of the company is in Tamil Nadu. The promotors of the group, Mr. Ajaykumar have over three decades of experience in the aforementioned line of business. The long track record of operations and experience of the management have helped the group develop healthy relationships with its customers. Acuité believes that the experience of the management in the industry is also likely to favourably impact the business risk profile of the group over the near to medium term. 20. as of March 31, 2023, from Rs. as of March 31, 2022, due to net loss reported during the year. The gearing level remained healthy at 0. 39 times as of March 31, 2023 against 0. Total outside liabilities/tangible net worth (TOL/TNW) remained low at 0. Interest coverage ratio (ICR) and debt service coverage ratio (DSCR) stood comfortable at 3. 43 times and 1. Debt to EBITDA improved marginally by 3. 72 times as of March 31, 2022 due to an increase in absolute EBITDA. The group’s working capital operations are efficiently managed, marked by gross current asset days (GCA) of 61 days in FY2023 against 70 days in FY2022. The inventory days stood at 36 days in FY2023, against 42 days in FY2022. The inventory holding policy depends on market conditions. However, working capital bank lines remained utilised at an average of ~80 percent for Havukal and 46 percent for Maris Agro during the last 6 months of the of the period ending March 2024. ---. for FY2024. However, the performance of the group in terms of revenue has declined when compared to the pre-COVID range of Rs. 65-70 Cr, due to a decline in orders. The group is having difficulty in procuring raw materials, due to intense competition, the group sometimes purchases raw materials at higher rates. Despite the increase in raw material costs, the operating profit margin has improved marginally to 3. 74 percent in FY2023 from 2. 5 percent in FY2024 due to the group's adoption of a fully automated production process, leading to a decline in employee costs, and the use of firewood, which is cheaper than coal. for FY2023 due to higher depreciation costs. Further, raw material price depends on various factors such as exposure to agro-climatic risk which could affect the availability of tea leaves in adverse weather conditions. The liquidity position of the group is adequate, as reflected by sufficient net cash accruals (NCA) against the maturing debt repayment obligations. The group has registered a NCA of Rs. 0. The fund based working capital limits were moderately utilised at an average of70 percent for the past 6 months period ending March, 2024. 1-2. over the medium term, while repayment obligations are expected to be in the range of Rs. for the same period. ---
­Acuité believes that HG will maintain a 'Stable' outlook over the medium term on the back of its established track record of operations and experienced management. The outlook may be revised to 'Positive' in case the group registers higher-than-expected growth in its revenues and profitability while maintaining its liquidity position. ---
­­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit to refer FAQs on Credit Rating. Havukal is an unfunded company based in Kotagiri (India), founded in 1910. It operates as an Internet first brand of tea. The company has 199 active competitors, including 12 funded and 1 that has exited. Its top competitors include companies like , and. Offers various flavors of teas including Warwick Peppermint Green Tea, Havukal Frost Tea, Havukal White Tea, Havukal Masala Chai, Havukal Lemon Black Tea etc. The teas are grown in company own tea estates located in Nilgiri Hills. Claims that the tea is blended with naturally sourced ingredients. Users can place the orders on the platform. The company is certified by various organizations including Rainforest Alliance Forest Certified, UTZ Certified, Ethical Tea Partnership, ISO 9001, ISO 20001 etc. Here is the list of Top 10 competitors of Havukal, ranked by Tracxn score :. (CIN: U01132TZ1976PTC000758) is a Private company incorporated on 21 Dec 1976. Its authorized share capital is Rs. 2500000. and as per records from Ministry of Corporate Affairs (MCA), its balance sheet was last filed on 2023-03-31. 's NIC code is 0113 (which is part of its CIN). As per the NIC code, it is inolved in Growing of fruit, nuts, beverage and spice crops. in. All companies in India are required to file various documents like financials, loan agreements, list of shareholders, details of directors, details of funding rounds and a lot more. These documents are credible and offer incredible insights about a company. However, understanding a company by viewing its documents is an extremely difficult and time consuming process. Get a list of all litigations HAVUKAL TEA AND PRODUCE COMPANY is contesting or have contested in the past. Companies are required to file half yearly returns showing payments due to Micro & Small Enterprises that have been delayed more than 45 days. When seen over a period of time, this information could show if the company has slowed down in making payments to its small vendors. This information is available only if the company has filed its half yearly returns with the registrar of companies. This section contains details of cash raised by allocation of equity or debentures. All types of fund raising acitivity is listed here including funding raised through Venture Capital. This section contains list of associate companies and joint ventures as per the most recently available annual returns. l Not so good news: Our lawsuit reports are currenly available for limited set of users and we are working towards gradually rolling out access to everyone. This is to ensure that only the best reports are made available to our users. Please provide us your details and we will let you know once you can access our reports. Your personal data will be processed and information from your device (cookies, unique identifiers, and other device data) may be stored by, accessed by and shared with , or used specifically by this site or app. Some vendors may process your personal data on the basis of legitimate interest, which you can object to by managing your options below. Look for a link at the bottom of this page to manage or withdraw consent in privacy and cookie settings. Cookies, device or similar online identifiers (e. g. browser type and information, language, screen size, supported technologies etc. Advertising presented to you on this service can be based on limited data, such as the website or app you are using, your non-precise location, your device type or which content you are (or have been) interacting with (for example, to limit the number of times an ad is presented to you). This is then used to build or improve a profile about you (that might include possible interests and personal aspects). Your profile can be used (also later) to present advertising that appears more relevant based on your possible interests by this and other entities. This can for example be used to adapt the order in which content is shown to you, so that it is even easier for you to find (non-advertising) content that matches your interests. For instance, whether you saw an ad, whether you clicked on it, whether it led you to buy a product or visit a website, etc. This is very helpful to understand the relevance of advertising campaigns. Information regarding which content is presented to you and how you interact with it can be used to determine whether the (non-advertising) content e. reached its intended audience and matched your interests. Reports can be generated based on the combination of data sets (like user profiles, statistics, market research, analytics data) regarding your interactions and those of other users with advertising or (non-advertising) content to identify common characteristics (for instance, to determine which target audiences are more receptive to an ad campaign or to certain contents). This specific purpose does not include the development or improvement of user profiles and identifiers. Your data can be used to monitor for and prevent unusual and possibly fraudulent activity (for example, regarding advertising, ad clicks by bots), and ensure systems and processes work properly and securely. It can also be used to correct any problems you, the publisher or the advertiser may encounter in the delivery of content and ads and in your interaction with them. The choices you make regarding the purposes and entities listed in this notice are saved and made available to those entities in the form of digital signals (such as a string of characters). This is necessary in order to enable both this service and those entities to respect such choices. In support of the purposes explained in this notice, your device might be considered as likely linked to other devices that belong to you or your household (for instance because you are logged in to the same service on both your phone and your computer, or because you may use the same Internet connection on both devices). We need to store these choices to respect them on future visits, and they are stored differently based on the type of site or app you're using:

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |