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Freshtrop Fruits > Company History > Food Processing > Company History of Freshtrop Fruits - BSE: 530077, NSE: N.A

Freshtrop Fruits

BSE: 530077|ISIN: INE795D01011|SECTOR: Food Processing
Jun 21, 16:00
-0.75 (-0.67%)
VOLUME 6,095
Freshtrop Fruits is not listed on NSE
Company History - Freshtrop Fruits
1. The company was incorporated on 30th September 1992 as
 private limited company vide certificate No.04-18365 of 1992-93
 under the name and style Freshtrop Fruits Pvt Ltd.and it was
 converted into public limited company vide Certificate of
 Incorporation No. 04-18365 dated 22nd September 1994.
 2 FRESHTROP FRUITS LIMITED (FFL) is engaged in the business of
 export of fresh fruit to various parts of Europe, Middle East
 and South East Asia. It was promoted by a group of leading fruit
 merchants having more than four decades of experience in
 domestic fruit trade alongwith a team of professionals having
 more than two decades of experience in manufacturing of
 packaging materials as their business activities, which are
 complementary to each other.
 3. Initially the Promoters started a partnership Company in the
 name of H.C.lNTERNATlONAL in 1991 and trial exports of various
 fruits and vegetables were undertaken in the year 1992. The
 partners in H C International are Mr Chetan V Motiani, Ms Namita
 A Motiani, Mr Prem L Rohra and Mr Naresh K Rohra. In the same
 year many importers from the European markets came to India for
 procurement of fresh fruits like grapes and mangoes. Discussions
 with them revealed that grapes and mangoes could be transported
 by sea from India to Europe provided a certain post harvest
 treatment was undertaken.
 4. The promoters could easily visualise the future and decided
 to put up post harvest treatment facility. A new company
 FRESHTROP FRUITS PRIVATE LIMITED was incorporated. Land was
 procured at Village :Jaulke. Tal.Dindori. Dist. Nasik.
 Maharashtra and within six months a Pre-Cooling unit and Cold
 Storage facility with an installed capacity to handle 8 tonnes
 of fresh fruits per day was established. The Company started its
 commercial operations on 17th March, 1993. The first year of
 operations for all practical purposes was however 1993-94. The
 principal fruits dealt with in the first year were grapes and
 mangoes. Trial exports of Pomegranates and Apples were also made
 during the year.
 5. The precooling and Cold storage facility put up by FFL had a
 capital outlay of Rs. 150 lacs which included the cost of land,
 building, precooling and cold storage equipments, except margin
 for working capital refrigerated vans and other supporting
 plants and machinery etc. The project was appraised and part
 financed by ICICI by way of term loan of Rs.75 lacs, extended
 under the Agricultural Commercialisation And Enterprise (ACE)
 Programme of USAID.
 6. In the first year of its operations, FFL has carved out a
 distinct place in the exports of precooled fresh fruits to
 countries like U.K., Netherlands. U. A. E., Saudi Arabia,
 Kuwait. Hongkong and Sri Lanka. The stringent quality control
 exercised right from the farming operations to the precooling,
 Transportation, packing and storing at desired temperature, has
 won widespread recognition to the fruit supplied by FFL under
 the trade name of FRESHTROP The total quantity exported so far
 is 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 basis
 and the fall of cut off date (the year ending) in the middle of
 the season was supposed to cause many practical problems such as
 reflection of the correct result. valuation of stock, goods in
 transit, finalisation of accounts and audit etc. It was
 therefore thought fit to keep the financial year of the company
 from July to June every year. Accordingly the financial year
 1993-94 consisted of 15 months period commencing from 1st April,
 1993 to June, l994.
 The main objects of the company as set out in the Memorandum and
 Articles of Association of the company, inter alia, include the
 1. To carry on the business as traders, merchants, buyers,
 sellers, dealers, exporters, importers, brokers, distributors,
 commission agents, sub-commission agents, consignment agents of
 fruits and fruit products, vegetable and vegetable products,
 flowers and foilage whether manufactured, semi-manufactured,
 processed or in raw form as wholesaler, retailers, on commission
 basis or on commission and profit sharing basis.
 2. To carry on the business to manufacture, produce, preserve,
 process, can, refine, dehydrate, prepare powder, chips.
 extracts, nectar, pulp, juice, sauce, pickle made out of fruits,
 vegetables, spices of all kinds and to grow and produce fruits,
 vegetables, vinegar, products.
 The company does not have any subsidiary within the meaning of
 the Companies Act, 1956.
 -Freshtrop Fruits has recommended 12.5%    
 -Freshtrop has recommended 20% 
 --The Company has issued Bonus Shares in the Ratio of 1:1.
 -The Company has issued Bonus Shares in the Ratio of 1:1.
 -Freshtrop Fruits designed E-mail ID for Investors Complaints:
 -Freshtrop Fruits has started commercial production of fruit pulps
 and concentrates at its new Unit situated at Village Janori, District
 Nasik, Maharashtra.
 -Freshtrop Fruits Ltd has recommended a dividend Rs. 1 per share
 (10%) on the equity shares.
 -Freshtrop Fruits Ltd has recommended a dividend of Rs. 1 per share
 (10%) on the equity shares.
Source : Dion Global Solutions Limited
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