The Scottish Assam (India) Ltd

Indicative price history

Key highlights

• Single-estate Assam tea company (Heeleakah Tea Estate) controlled by the Khaitan family of Kolkata; only 8,00,000 shares of ₹10.
• Book value about ₹856 a share (net worth ~₹68 Cr); dealer-reported EPS ₹48 and ₹122 in the last two reported years.
• UnlistedZone ₹775 (dated 22 Oct 2024, lot 50) versus wwipl ₹535 / Planify ₹533 in 2026 — rate on this page is stale and above the current market.
• Listed on the dormant Calcutta Stock Exchange; trades off-market under ISIN INE010G01018.

About Scottish Assam

The Scottish Assam (India) Limited is a single-estate tea company. It owns and runs the Heeleakah Tea Estate in upper Assam, producing CTC and orthodox black tea sold under the Heeleakah garden mark at the Guwahati and Kolkata auctions and to private buyers. The estate is a British-era garden; the company was incorporated in Kolkata on 27 September 1977 (CIN L01132WB1977PLC031175, RoC Kolkata) to take over the Indian business of its Scottish predecessor when foreign-owned tea companies were Indianised under FERA.

Control sits with the Khaitan family of Kolkata: dealer shareholding data shows Pradip Kumar Khaitan (senior partner of law firm Khaitan & Co and a long-time director of Indian plantation and industrial companies) with 15%, and group investment companies Nirvan Commercial Co (10.87%) and Shree Durga Agencies (10.38%) among the largest holders. The equity is tiny — paid-up capital ₹80 lakh, i.e. 8,00,000 shares of ₹10 — which is why the share price is in the hundreds of rupees.

Besides tea the company holds a sizeable portfolio of quoted investments, and its reported profit swings with the mark-to-market value of that portfolio more than with the tea crop: the chairman's statement for FY23 attributed a corporate loss to the fall in market value of its 'large investments'. Dealer data shows book value of about ₹856 a share (net worth near ₹68 Cr) and earnings per share of ₹48.38 for one recent year and ₹122.47 for another, i.e. profits of roughly ₹3.9 Cr and ₹9.8 Cr; revenue from tea sales is not disclosed in the snippets available and the figures in the financial table are estimates built around those per-share numbers.

The shares are listed on the Calcutta Stock Exchange (hence the 'L' CIN), but CSE has had no functioning trading platform for years, so in practice the stock changes hands off-market through unlisted-share dealers. UnlistedZone's page carries an indicative price of ₹775 (dated 22 October 2024) with a lot of 50; more recent dealer quotes are much lower — wwipl shows a last trade at ₹535 with a 52-week range of ₹512–554, and Planify ₹533.30 on 30 July 2026. This profile uses the UnlistedZone figure as instructed but flags that it is almost two years old and about 45% above the current dealer market. At ₹775 the market capitalisation is about ₹62 Cr — roughly 0.9 times book value and 16 times the lower of the two reported EPS figures; at ₹535 it would be ₹43 Cr, around 0.6 times book.

Verification status (10 Oct 2026): CIN, registration number, incorporation date, registered office, paid-up capital and share count are from the MCA registry (InstaFinancials snippet); ISIN, the CSE listing, the largest shareholders, book value and EPS are from dealer pages (SBNRI, wwipl, Planify, UnlistedZone). Tea revenue, cost lines, borrowings, cash, the year attribution of the two EPS figures, headcount and director names are estimates or not captured and are marked as such. No annual report was obtained.

Where the revenue comes from

• Tea — Heeleakah Tea Estate (CTC and orthodox)85%

  Own-crop tea sold through Guwahati/Kolkata auctions and private sales (estimate)

• Investment income15%

  Dividends, interest and gains on the quoted-investment portfolio (estimate)

Products & services