Parry Agro Industries Ltd., a Murugappa Group company, is one of India's top producers and exporters of premium orthodox, organic, and CTC teas. Headquartered in Coimbatore, the company owns and operates over 3,200 hectares of tea estates across Tamil Nadu, Kerala, and Assam.
With a strong focus on sustainability and export-grade quality, Parry Agro is a trusted supplier of bulk and specialty teas to both Indian and global markets — including Europe, North America, and the Middle East.
Parry Agro earns revenue primarily from the cultivation, processing, and export of tea, with an emphasis on:
Orthodox, Organic, and CTC Teas: High-grade and specialty teas grown in high-yield estates.
Export Revenue: A significant share of income is from international markets, offering better pricing and foreign exchange benefits.
Sustainable Certifications: Rainforest Alliance and Trustea certifications help attract ESG-aligned buyers.
Diversified Product Streams: The company reported ₹239.48 Cr revenue from product sales in FY25, which includes:
Tea: ₹237.27 Cr (vs. ₹223.83 Cr in FY24)
Pepper: ₹2.20 Cr (vs. ₹1.53 Cr in FY24)
Other Operating Revenue (₹6.87 Cr in FY25 vs. ₹8.02 Cr in FY24):
Sale of Tea Waste: ₹2.81 Cr
Timber: ₹2.15 Cr
Scrap: ₹0.41 Cr
Subsidies: ₹0.16 Cr
Income from Eco Ops: ₹0.34 Cr
Export Benefits: ₹1.00 Cr
Services Income: ₹2.89 Cr (almost flat YoY)
The company benefits from price premiums due to its sustainability practices and estate legacy within the Murugappa Group.
Parry Agro is a pioneer in organic cultivation using eco-sustainable methods, strict buffer zones, and no synthetic fertilizers. These teas are NOP and NPOP certified for export, especially to the US and EU.
In addition to organic farming, Parry Agro also operates conventional tea estates under Trustea-compliant models, ensuring economic, agronomic, and environmental sustainability.
| Key Metric | FY25 (₹ Cr) | FY24 (₹ Cr) | Change |
|---|---|---|---|
| Total Assets | 116.93 | 113.88 | ↑ 2.7% |
| Fixed Assets | 60.02 | 59.32 | ↑ 1.2% |
| Inventories | 32.72 | 30.89 | ↑ 5.9% |
| Total Current Liability | 42.13 | 41.92 | ↑ 0.5% |
| Debt | 1.95 | 2.12 | ↓ 8.0% |
| Total Equity | 68.54 | 66.14 | ↑ 3.6% |
| Metric | FY25 | FY24 | Change |
| Revenue from Operations | 246.35 | 233.87 | ↑ 5.3% |
| Total Income | 248.44 | 239.67 | ↑ 3.7% |
| Total Expenses | 250.35 | 248.28 | ↑ 0.8% |
| Net Profit | 2.39 | -2.97 | Turnaround |
| EBITDA | -4.49 | -5.62 | ↑ 20.3% |
| EBITDA Margin | -1.8% | -2.4% | +0.6pp |
| Net Profit Margin | 1.0% | -1.3% | +2.3pp |
| EPS (Basic) | -7.24 | -24.30 | ↑ 70.2% |
| Activity | FY25 (₹ Cr) | FY24 (₹ Cr) | Comment |
| Operating Cash Flow | +2.39 | -6.85 | Turned positive |
| Investing Cash Flow | -1.95 | +8.17 | Capex-led outflow |
| Net Change in Cash | +0.40 | -0.40 | Positive swing |
| Parameter | Value |
| Price per Share | ₹1,740 |
| Book Value | ₹209.62 |
| P/B Ratio | 8.3x |
| P/E Ratio | 273.8x |
| ROE | 3.49% |
| Market Cap | ₹654 Cr |
| Debt-to-Equity | 0.03 |
P/E Ratio: Market Cap ₹654 Cr ÷ Net Profit ₹2.39 Cr = 273.8x — implies very high premium pricing.
ROE: Net Profit ₹2.39 Cr ÷ Equity ₹68.54 Cr = 3.49% — remains on the lower side.
Debt-to-Equity: ₹1.95 Cr ÷ ₹68.54 Cr = 0.03 — indicates almost debt-free status.
The stock appears overvalued based on earnings, but scarcity, group brand, and ESG factors may justify the steep valuation.
Group Backing: Stable governance as part of the Murugappa Group.
Premium Estate Portfolio: High-yield gardens in regions like Assam, Kerala, and Nilgiris.
Export Orientation: Diversified global markets help de-risk from domestic cycles.
Sustainability Advantage: Certifications boost ESG investment appeal.
Favorable Demand Trends: Rising consumption of premium and organic teas globally.
Despite still being in the red, Parry Agro Industries Ltd. has demonstrated solid financial improvements in FY25, including:
Returned to net profit from prior year losses
EBITDA margin improved significantly
Operating cash flow turned positive
The business is stabilizing its financials while investing in growth. With a strong brand legacy, sustainable cultivation practices, and improving efficiency, Parry Agro appears poised for a potential turnaround, provided macro conditions remain favorable.
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