About Andrew Yule
Andrew Yule celebrated its centenary year in 1963. However, post-1963 era had been a period of dramatic change both in the structural fabric and fortune of the Company. Managing agency system was abolished in 1969, coal and insurance were nationalized, jute business was sold in early 70s and the Group shrunk considerably. There was great deal of uncertainty about the future of the Company. It was in this background that the Government of India decided to acquire 49% of foreign shareholdings in the Company in the year 1974 to provide stability to the organization. The Government subsequently acquired another 2% from the market and thus, Andrew Yule & Co. Ltd., became a public sector enterprise in 1979.
The present business of Andrew Yule comprises of Tea, Electrical and Engineering, Various changes in the economic situation as well as socio-economic conditions for the past 150 years could never dampen the tradition and heritage of the Company and its business growth. The Company always had the resilience to withstand the vicissitudes and the test of time. An example would be the remarkable turnaround by the Company in 2008-09 for which it received the SCOPE Excellence Award for the turnaround category in 2009. Besides, the Company was awarded the prestigious BRPSE Turnaround Award in 2011 and also the MoU Excellence Award in 2012.