PURETROP FRUITS Share price

1. The company was incorporated on 30th September 1992 asprivate limited company vide certificate No.04-18365 of 1992-93under the name and style Freshtrop Fruits Pvt Ltd.and it wasconverted into public limited company vide Certificate ofIncorporation No. 04-18365 dated 22nd September 1994.2 FRESHTROP FRUITS LIMITED (FFL) is engaged in the business ofexport of fresh fruit to various parts of Europe Middle Eastand South East Asia. It was promoted by a group of leading fruitmerchants having more than four decades of experience indomestic fruit trade alongwith a team of professionals havingmore than two decades of experience in manufacturing ofpackaging materials as their business activities which arecomplementary to each other.3. Initially the Promoters started a partnership Company in thename of H.C.lNTERNATlONAL in 1991 and trial exports of variousfruits and vegetables were undertaken in the year 1992. Thepartners in H C International are Mr Chetan V Motiani Ms NamitaA Motiani Mr Prem L Rohra and Mr Naresh K Rohra. In the sameyear many importers from the European markets came to India forprocurement of fresh fruits like grapes and mangoes. Discussionswith them revealed that grapes and mangoes could be transportedby sea from India to Europe provided a certain post harvesttreatment was undertaken.4. The promoters could easily visualise the future and decidedto put up post harvest treatment facility. A new companyFRESHTROP FRUITS PRIVATE LIMITED was incorporated. Land wasprocured at Village :Jaulke. Tal.Dindori. Dist. Nasik.Maharashtra and within six months a Pre-Cooling unit and ColdStorage facility with an installed capacity to handle 8 tonnesof fresh fruits per day was established. The Company started itscommercial operations on 17th March 1993. The first year ofoperations for all practical purposes was however 1993-94. Theprincipal fruits dealt with in the first year were grapes andmangoes. Trial exports of Pomegranates and Apples were also madeduring the year.5. The precooling and Cold storage facility put up by FFL had acapital outlay of Rs. 150 lacs which included the cost of landbuilding precooling and cold storage equipments except marginfor working capital refrigerated vans and other supportingplants and machinery etc. The project was appraised and partfinanced by ICICI by way of term loan of Rs.75 lacs extendedunder the Agricultural Commercialisation And Enterprise (ACE)Programme of USAID.6. In the first year of its operations FFL has carved out adistinct place in the exports of precooled fresh fruits tocountries like U.K. Netherlands. U. A. E. Saudi ArabiaKuwait. Hongkong and Sri Lanka. The stringent quality controlexercised right from the farming operations to the precoolingTransportation packing and storing at desired temperature haswon widespread recognition to the fruit supplied by FFL underthe trade name of "FRESHTROP" The total quantity exported so faris as under:--------------------------------------------------------------Name of Fruits Grapes Mangoes Apples Pomegranates Unit of Measurement M.T. M.T. M.T. M.T. --------------------------------------------------------------Name of the Country U. K. 475 61 0 0 Netherlands 84 1 0 0 U. A. E. 117 15 0 8 Saudi Arabia 124 22 0 6 Kuwait 1 1 0 0 Hongkong 97 3 0 0 Sri Lanka 0 0 15 0 --------------------------------------------------------------Total 898 103 15 14--------------------------------------------------------------7. The fruit trade world Over takes place on consignment basisand the fall of cut off date (the year ending) in the middle ofthe season was supposed to cause many practical problems such asreflection of the correct result. valuation of stock goods intransit finalisation of accounts and audit etc. It wastherefore thought fit to keep the financial year of the companyfrom July to June every year. Accordingly the financial year1993-94 consisted of 15 months period commencing from 1st April1993 to June l994.MAIN OBJECTS OF THE COMPANYThe main objects of the company as set out in the Memorandum andArticles of Association of the company inter alia include thefollowing1. To carry on the business as traders merchants buyerssellers dealers exporters importers brokers distributorscommission agents sub-commission agents consignment agents offruits and fruit products vegetable and vegetable productsflowers and foilage whether manufactured semi-manufacturedprocessed or in raw form as wholesaler retailers on commissionbasis or on commission and profit sharing basis.2. To carry on the business to manufacture produce preserveprocess can refine dehydrate prepare powder chips.extracts nectar pulp juice sauce pickle made out of fruitsvegetables spices of all kinds and to grow and produce fruitsvegetables vinegar products.SUBSIDIARY OF THE COMPANYThe company does not have any subsidiary within the meaning ofthe Companies Act 1956.