McLeod Russel

What McLeod Russel does

McLeod Russel India Limited (NSE:MCLEODRUSS) is the world's largest privately owned tea plantation company, producing approximately 105 million kilograms of bulk black tea (both CTC and Orthodox grades) annually across 33 estates spanning 27,360 hectares in Assam, West Bengal, Vietnam, Uganda, and Rwanda. The company represents 14% of the total Assam tea crop and directly employs over 73,000-90,000 people across its global operations. Headquartered in Kolkata and controlled by the Williamson Magor Group (Khaitan family), McLeod Russel operates through wholly-owned subsidiaries including McLeod Russel Africa Limited, McLeod Russel Uganda Limited, McLeod Russel Middle East FZCO (Dubai), and Borelli Tea Holdings Limited (UK).

The company's core business model centers on B2B bulk tea supply to institutional buyers, global tea companies (Unilever for Lipton Yellow Label and PG Tips), premium buyers (Taylors of Harrogate, Betty's), and domestic wholesalers and regional packers. Domestic Indian production of over 81 million kilograms is sold through two primary channels: Tea Auction centers in Kolkata and Guwahati (50-55 million kg annually) and direct Private Sales. Exports are handled via the ICD Amingaon inland container depot, supplemented by international sales offices in Dubai and the UK. The company also offers tea blending services through dedicated blending units and holds certifications including Rainforest Alliance, ISO 9001, ISO 22000, trustea, and ISO 27001.

McLeod Russel is currently in severe financial distress, with approximately Rs 1,900 crore of outstanding borrowings and pending petitions before the Debt Recovery Tribunal and NCLT under the Insolvency and Bankruptcy Code. The company is undergoing debt restructuring with the National Asset Reconstruction Company Limited (NARCL) and J.C. Flowers Asset Reconstruction (JCF ARC), requiring Rs 1,050 crore sustainable debt service by February 2029, with NARCL receiving 10% equity on a fully diluted basis. As part of this restructuring, four tea estates (Nya Gogra, Rupajuli, Boroi, and Mathura) have been sold or are under MoU for disposal. FY2026 reported a net loss of Rs 123.50 crore, with Q4 FY2026 sales declining 21.22% year-on-year to Rs 130.35 crore.

Name

McLeod Russel

Legal name

McLeod Russel India Limited

Website

https://mcleodrussel.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

McLeod Russel India Limited is the world's largest privately owned bulk tea plantation company, producing approximately 105 million kilograms annually across estates in India, Vietnam, Uganda, and Rwanda, supplying global tea brands and domestic wholesalers through auction centers and private sales channels.

Ownership category

akta.pro rank

Product category

Bulk Tea Production

NAICS

Coffee and Tea Manufacturing (311920), Coffee and Tea Manufacturing (31192), Beverage Manufacturing (3121)

SIC

Beverages (2080)

akta.pro primary industry

Tea (Leaf, Bagged, Instant, Concentrates) (CRADAHAE)

akta.pro secondary industries

Tea, Coffee & Cocoa Farming (Beverage Specialty Crops) (AFAGAGAG), Tea Blending & Flavoring (AFAFADAG)

Keywords

• Bulk tea production
• Tea plantation operations
• CTC tea processing
• Orthodox tea manufacturing
• Tea estate management

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Others, Marketing or Sales, Infrastructure

Revenue model

1. Bulk Tea Sales: McLeod Russel produces approximately 105 million kilograms of tea annually from estates in Assam, West Bengal, Vietnam, Uganda, and Rwanda. The majority of Indian production (50–55 million kg annually) is sold through private sales and tea auction centers in Kolkata and Guwahati. The company is a major bulk tea supplier to institutional buyers, wholesalers, and retailers domestically, and exports to international markets.
2. Asset Disposal (Debt Resolution): As part of debt restructuring with NARCL and JCF ARC, the company has sold and continues to sell tea estates to reduce outstanding debt obligations. Three estates were sold for Rs 88.85 crore and an OTS of Rs 150 crore was agreed upon with JCF ARC.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels3 records

Core offering

McLeod Russel India Limited is a bulk tea producer operating tea estates across 27,360 hectares in Assam, West Bengal, Vietnam, Uganda, and Rwanda, producing approximately 105 million kilograms of high-quality CTC and Orthodox black tea annually. The company sells its tea through Tea Auction centers (Kolkata and Guwahati), private sales to institutional buyers and regional packers, and direct exports via its ICD Amingaon facility and overseas subsidiaries in the UK and UAE. It supplies major global tea brands including Unilever (Lipton Yellow Label, PG Tips) and Taylors of Harrogate, and offers custom tea blending through dedicated blending units.

Product overview

McLeod Russel is a bulk tea production company operating as a single unified business focused on tea plantation and production. The company manages tea estates across India (Assam, West Bengal) and Africa (Vietnam, Uganda, Rwanda), producing approximately 105 million kilograms of high-quality tea annually. Key products include bulk black tea sold through both private sales (direct to wholesalers, retailers, and regional packers) and tea auction centers in Kolkata and Guwahati. The company also offers blending services through dedicated blending units for custom tea formulations. McLeod Russel operates with over 73,000 employees across its global tea operations.

Differentiator

Problem solved

Functional benefit

Products and services

• McLeod Russel Bulk Tea Bulk black tea (CTC and Orthodox varieties) produced from tea estates spanning 27,360 hectares in Assam, West Bengal, Vietnam, Uganda, and Rwanda. Annual production of approximately 105 million kilograms is sold through Tea Auction centers at Kolkata and Guwahati, through private sales to domestic wholesalers, retailers, and regional packers, and via direct exports to global buyers including Unilever (Lipton Yellow Label, PG Tips) and Taylors of Harrogate.
• Tea Blending Services Custom tea blending services operated through dedicated blending units that allow buyers and packers to create proprietary tea blends from McLeod Russel's CTC and Orthodox base teas. Used by downstream tea companies for formulation of branded retail tea blends.

Quantifiable outcome

• 14% of total Assam Crop produced by McLeod Russel
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered minor and core.

• Operation Smile IndiaminorOthers · 1 January 2011CSR partnership to treat children born with cleft lip and palate. McLeod Russel partnered with Operation Smile India to identify and refer patients for free surgeries. 71 patients were screened across Phulbari and Monabarie Central Hospitals, with 48 patients undergoing operations at MMC Hospital, Guwahati.
• Taylors of HarrogateminorStrategic or Co-development PartnerUK-based premium tea buyer with whom McLeod Russel has a long-standing sourcing relationship. Taylors of Harrogate has partnered with McLeod Russel on water management projects at Assam estates and visited company estates to formulate future sourcing strategies.
• UnilevercoreStrategic or Co-development PartnerWorld's largest tea company sourcing from McLeod Russel estates. Unilever's commitment to sourcing Rainforest Alliance Certified tea aligns with McLeod Russel's certification programs. McLeod Russel produces teas used in Lipton Yellow Label and PG Tips brands.
• Bengal Tea & Fabrics LimitedminorOthersBuyer of Nya Gogra Tea Estate as part of McLeod Russel's debt resolution plan with NARCL. Sale proceeds of approximately Rs 88.85 crore directed toward repaying debt.
• Khona Tea Estate LLPminorOthersBuyer of Rupajuli Tea Estate as part of McLeod Russel's debt resolution plan with NARCL.
• Jatinga Agro-TechminorOthersBuyer of Boroi Tea Estate as part of McLeod Russel's debt resolution plan with NARCL.

Scale indicators14 records

Recent moves10 records

Expansion highlights4 records

Broad incumbents

• Williamson Magor Group: Parent group of McLeod Russel and a diversified Indian conglomerate encompassing multiple tea-related entities (including Rossell Tea). Comparable as a broader Indian tea industry incumbent with significant plantation assets and household brand presence.
• Hindustan Unilever: India's largest FMCG company and a major McLeod Russel customer (Brooke Bond brand, Lipton/PG Tips). Comparable as a tea industry incumbent with overlapping supplier relationships and dominant Indian tea market presence across both bulk and branded categories.
• Twinings (Associated British Foods): Major global tea brand owned by Associated British Foods (which also owns Tetley). Comparable as a tea industry incumbent and significant global buyer of bulk tea from producers including McLeod Russel's competitive set.

Direct peers

• Tata Consumer Products: India's largest integrated tea company operating Tata Tea estates and brands (including Tetley through ABF joint venture). Direct comparable as a vertically integrated producer with bulk and branded operations across Indian and African origins.
• Dilmah: Sri Lankan family-owned vertically integrated tea producer with own estates, blending facilities, and global branded distribution. Comparable as a privately held vertically integrated tea company with similar quality positioning and single-origin focus.
• Kanan Devan Hills Plantations (KDHP): Major South Indian bulk tea producer operating company-owned estates in Munnar, Kerala. Closely comparable in business model (bulk tea from owned estates sold to institutional buyers) and similar production scale and customer profile.
• Wagh Bakri Tea Company: Major integrated Indian tea company with own estates, blending operations, and nationwide distribution. Comparable as an integrated tea producer operating across both institutional bulk channels and retail branded channels in India.
• Finlays (James Finlay): Global bulk tea producer with operations across Kenya, Sri Lanka, and other origins, supplying major international brands. Direct comparable as a multi-geography bulk tea supplier serving the same institutional customer set as McLeod Russel.
• Harrisons Malayalam: Indian company with significant tea plantation operations in South India alongside rubber and other crops. Comparable in business model as a bulk tea producer with vertically integrated estate operations and similar institutional customer mix.
• Apeejay Surrendra Group: Indian conglomerate owning the Typhoo tea brand and operating tea estates in India. Comparable as a multi-geography tea producer with both bulk supply operations and branded retail products serving similar end markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about McLeod Russel