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Rydak Syndicate Unlisted Shares
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Rydak Syndicate shares are likely in a sideways trend due to a combination of factors affecting the company's performance and the broader market. Specifically, the company experienced a significant decrease in net profit in FY24.
As on 29 Jul 2026, 08:00 PM, we are buying shares of the N/A for N/A and selling them for N/A per share.
About Rydak Syndicate Unlisted Shares
Established in 1898, Rydak Syndicate Limited stands as a symbol of India’s rich tea heritage. Once known as Rydak Tea Syndicate Limited, it was renamed in 1979 and is headquartered at 4, Dr. Rajendra Prasad Sarani, Kolkata. The company owns six tea estates spread across Assam and the Dooars region of West Bengal, and is a proud member of esteemed institutions like the Indian Tea Association, Tea Research Association, and the Tea Board of India.
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Rydak’s legacy includes iconic estates like Rydak, Kartick, Baradighi, Duklingia, and Kopati, producing award-winning teas that consistently top auctions and win over connoisseurs with their aroma, strength, and heritage appeal.
Business Division
Rydak Syndicate’s operations are primarily divided into the cultivation, processing, and sale of premium tea through its six major estates:
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Rydak & Kartick Estates (West Bengal): Producing premium auction-grade teas.
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Baradighi Estate: 600-acre lush property producing strong pan-India blends.
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Duklingia Estate (Assam): Known for high-quality, premium-priced teas.
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Kopati Estate (Assam): Applauded for cultural tea-making practices and regional popularity.
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Mangaldai & Central Cachar (Assam): Historic mergers contributing to a diversified portfolio.
Financial Highlights
1. Stable Revenue Growth
Revenue remained steady over the years, moving from ₹128.3 Cr in 2021 to ₹140 Cr in 2024, showing consistent topline performance despite market fluctuations.
2. Strong Gross Margins
Gross margins stayed robust, averaging over ₹92 Cr annually, with the highest at ₹97.81 Cr in 2023 — a sign of efficient production and quality product demand.
3. Declining EBITDA & Profitability
EBITDA dropped sharply from ₹25.11 Cr in 2022 to ₹9 Cr in 2024, indicating rising operational costs and pressure on overall profitability.
4. EPS Shrinkage
Earnings Per Share declined from ₹237.01 in 2022 to ₹51.55 in 2024, impacting investor returns and reflecting weaker net earnings.
5. Operating Margin Drop
Operating Profit Margin decreased from 17.58% in 2021 to 6.43% in 2024, suggesting narrowing operational efficiency and higher cost absorption.
6. Reserves & Net Worth Growth
Company reserves rose from ₹33.02 Cr in 2021 to ₹70 Cr in 2024, strengthening internal financial stability despite lower short-term profits.
7. Reduced Borrowings
Total borrowings fell from ₹17.72 Cr in 2021 to ₹8 Cr in 2024, showcasing improved debt management and reduced financial risk.
Pros
- Stock is trading at 1.14 times its book value
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 26.3%
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -6.23% over past five years.
- Company has a low return on equity of 3.68% over last 3 years.
Key Details
| Share Name | Particulars |
|---|---|
| Rydak Syndicate Unlisted | 575 |
| Shares Price | Per Equity Share |
| Minimum Lot Size | Shares Worth Rs. 15000 |
| 52 Week High | ₹575 |
| 52 Week LoW | ₹575 |
| Depository | NSDL & CDSL |
| PAN Number | AABCR2656P |
| ISIN Number | INE826F01019 |
| CIN | L65993WB1900PLC001417 |
| RTA | N/A |
| Fundamentals | Value |
|---|---|
| Market Cap (in cr.) | 55.78 |
| P/E Ratio | 11.15 |
| P/B Ratio | 0.69 |
| Debt to Equity | 0.11 |
| ROE (%) | 7% |
| Book Value | 834.74 |
| EPS | 51.55 |
| Face Value | 10 |
| Total Shares | 970000 |
Financials
| P&L Statement | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | 140 | 137 | 143.46 |
| Cost of Material Consumed | 5 | 3 | 10.96 |
| Gross Margins | 96.43 | 97.81 | 92.36 |
| Change in Inventory | -2 | -4 | 0.97 |
| Employee Benefit Expenses | 89 | 84 | 82.84 |
| Other Expenses | 39 | 41 | 23.58 |
| EBITDA | 9 | 13 | 25.11 |
| OPM | 6.43 | 9.49 | 17.5 |
| Other Income | 2 | 2 | 4.36 |
| Finance Cost | 1.5 | 1 | 1.47 |
| D&A | 3 | 3 | 3.08 |
| EBIT | 6 | 10 | 22.03 |
| EBIT Margins | 4.29 | 7.3 | 15.36 |
| PBT | 6 | 11 | 24.88 |
| PBT Margins | 4.29 | 8.03 | 17.34 |
| Tax | 1 | 0 | 1.89 |
| PAT | 5 | 11 | 22.99 |
| NPM | 3.57 | 8.03 | 16.03 |
| EPS | 51.55 | 113.4 | 237.01 |
| Financial Ratios | FY24 | FY23 | FY22 |
|---|---|---|---|
| Operating Margin | 5% | 9% | 18% |
| Net Profit Margin | 3% | 8% | 16% |
| Return on Equity | 7% | 17% | 41% |
| Debt-Equity | 0.12 | 0.11 | 0.19 |
| Current Ratio | 1.43 | 1.71 | 1.49 |
| Dividend Payout | 2% | 1% | 1% |
| Company | Rydak Syndicate Ltd | Terai Tea Co Ltd | Peria Karamalai Tea and Produce Company Ltd |
|---|---|---|---|
| Market Cap (₹ Crores) | 63 | 125 | 161 |
| Profitability Margin (%) | 3% | 3% | 10% |
| ROCE (%) | 5% | 2% | 4% |
| ROE (%) | 7% | 1% | 3% |
| D/E Ratio | 0.12 | 0.21 | 0.11 |
| P/E Ratio | 12.89 | 15.2 | 30.2 |
| P/B Ratio | 0.89 | 0.82 | 0.84 |
| Book Value per Share (₹) | 731.3 | 219 | 618 |
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