Rising costs and stagnating tea prices have been major issues in the tea industry. So why is a non-tea player looking to buy a giant like McLeod Russel India and embrace the troubles is the question doing the rounds in tea circles.
Abhishek Jalan, director, Carbon Resources, says, it is a pure business decision. “We believe that this business has value. They have been EBITDA-positive even in the worst of times. They have been bleeding only because of a huge debt cost.”
Jalan’s company, Carbon Resources, which is into manufacturing input materials for ferro alloys, steel and aluminium industries, has