About Rainbow Papers Limited
Data last updated:
Rainbow Papers Limited was a public limited company based in Ahmedabad, Gujarat, India. The company has been converted to a Limited Liability Partnership (LLP) and no longer exists as a company. For the latest details, refer to the successor LLP. It operated in the paper and packaging products segment of the manufacturing sector. It was incorporated on 04 July 1986.
The company was registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L21010GJ1986PLC008772. The company has 2 GST registrations on record, none of which is active. It is recorded as listed by MCA, but trading in its shares on BSE (523523) has been suspended, so they do not currently trade on a stock exchange.
The company had an authorised share capital of ₹40 Cr and a paid-up capital of ₹21.24 Cr. It was led by directors including Ajaykumar Radheshyam Goenka (Managing Director) and Rahul Jamnaprasad Maheshwari (Whole-Time Director).
Its last annual general meeting (AGM) was held on 28 September 2018, and its latest financial statements are for the year ended 31 March 2018. The registered office was at 801 Avdesh House 8th Floor Opp Guru Gobind Gurudwara Gandhinagar – Sarkhej Highway, Ahmedabad, Gujarat, India – 380054.
As per the financials filed for FY 2018, the company reported a revenue of ₹29.82 Lakh, a decline of 99% compared to the previous year. For the same year it recorded a net loss of ₹198.72 Cr and EBITDA of -₹87.59 Cr. Revenue has declined at a compounded annual rate (CAGR) of 92% over three years and 78% over five years.
The company has about 944 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Rainbow Papers. As per MCA filings, the company has satisfied charges of ₹1,753.77 Cr on record. Court records list 584 cases involving the company, including 66 filed by the company and 518 filed against it; 24 cases are pending. The company has 49 deals on record (45 market trades, 2 funding rounds, 2 convertible or debt financings), with disclosed funding of ₹276.01 Cr; the latest was in May 2016. Its 8 peer companies in the Manufacturing industry (Paper), with the same principal business activity (wood and wood products, furniture, paper and paper products) are compared by revenue, 4 larger and 4 smaller; the largest is Vaithieswara Papers and Boards Private Limited with revenue of ₹54.55 Cr.
The last known website on record is rainbowpapers.com.
Company details
CIN history
Rainbow Papers has one previous CIN (Corporate Identification Number): U21010GJ1986PLC008772. The current CIN is L21010GJ1986PLC008772, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L21010GJ1986PLC008772 | Current |
| U21010GJ1986PLC008772 | Previous |
Contact details
Rainbow Papers Limited's registered office is in Ahmedabad, Gujarat. Its website is rainbowpapers.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address801 Avdesh House 8th Floor Opp Guru Gobind Gurudwara Gandhinagar – Sarkhej Highway, Ahmedabad, Gujarat, India – 380054
- IndustryManufacturing, Paper & Packaging Products
To see the full contact details of Rainbow Papers Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Rainbow Papers operates one associated brand: Rainbow Papers. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer & supplier of recycled paper & paper product | rainbowpapers.com |
Business activity
The main business activity of Rainbow Papers is manufacturing. In detail, this covers wood and wood products, furniture, paper and paper products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C3 | Wood and wood products, furniture, paper and paper products |
To see the full business activity and turnover split of Rainbow Papers Limited, buy the company report.
Financials of Rainbow Papers Limited
FY 2018 filings availableRainbow Papers Limited reported revenue of ₹29.82 Lakh (down 99% YoY) for FY 2018.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 78% over five years, including a 99% fall in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profit and Loss Statement | ||||
| Revenue from Operations | ||||
| Other Income | ||||
| Total Revenue | ₹29.82 Lakh | |||
| Cost of Materials Consumed | ||||
| Employee Benefit Expense | ||||
| Finance Costs | ||||
| Depreciation and Amortisation | ||||
| Other Expenses | ||||
| Total Expenses | ||||
| EBITDA | -₹87.59 Cr | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | -₹198.72 Cr | |||
| Balance Sheet | ||||
| Share Capital | ||||
| Reserves and Surplus | ||||
| Net Worth (Total Equity) | ||||
| Long-term Borrowings | ||||
| Short-term Borrowings | ||||
| Trade Payables | ||||
| Total Liabilities | ||||
| Fixed Assets | ||||
| Investments | ||||
| Inventories | ||||
| Trade Receivables | ||||
| Cash and Bank Balance | ||||
| Total Assets | ||||
Financial Ratios
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profitability | ||||
| EBITDA Margin | ||||
| Net Profit Margin | ||||
| Return on Equity (ROE) | ||||
| Return on Capital Employed (ROCE) | ||||
| Return on Assets (ROA) | ||||
| Liquidity and Debt | ||||
| Current Ratio | ||||
| Quick Ratio | ||||
| Debt-to-Equity Ratio | ||||
| Interest Coverage Ratio | ||||
| Efficiency and Growth | ||||
| Asset Turnover | ||||
| Receivable Days | ||||
| Payable Days | ||||
| Inventory Days | ||||
| Revenue Growth | ||||
| Net Profit Growth | ||||
To see the full financial statements and ratios of Rainbow Papers Limited, buy the company report.
Board of directors and KMP of Rainbow Papers Limited
Rainbow Papers Limited currently reports 6 directors and 1 key managerial person. 15 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Abhilash Khimabhai Shakya Also directs: Red Cherry Engineering Private Limited, Mecarte Global Services Private Limited, Adore Broking Private Limited and 1 more | Director | 30 Dec 2015 | 10 Years 9 Months | As last reported |
| Shashikant Natverlal Thakar Also directs: Aanya Suppliers Private Limited, Deepnav Investment Pvt Ltd, Mahishmati Investment Private Limited and 1 more | Company Secretary | 16 Jan 2016 | 10 Years 9 Months | As last reported |
| Rahul Jamnaprasad Maheshwari Also directs: Avion Papers LLP | Whole-Time Director | 30 Aug 2011 | 15 Years 1 Months | As last reported |
| Ajaykumar Radheshyam Goenka | Managing Director | 21 Aug 2008 | 18 Years 2 Months | As last reported |
| Indrasinh Becharsinh Zala | Director | 12 Aug 2015 | 11 Years 2 Months | As last reported |
| Kantibhai Hirabhai Patel | Director | 12 Aug 2010 | 16 Years 2 Months | As last reported |
Peer comparison
Rainbow Papers Limited is compared with the 8 companies closest to it by revenue in the Manufacturing industry (Paper), with the same principal business activity (wood and wood products, furniture, paper and paper products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Vaithieswara Papers and Boards Private Limited | ₹54.55 Cr (FY 2025) | 37.0% | Tiruppur, Tamil Nadu, India | |||
| Craft Corner Paper Mills Limited | ₹53.87 Cr (FY 2023) | -17.0% | Mumbai, Maharashtra, India | |||
| Sunlight Pulp & Paper Private Limited | ₹53.73 Cr (FY 2022) | 732.0% | Anand, Gujarat, India | |||
| Cson Paper Mills Private Limited | ₹53.12 Cr (FY 2025) | 2.0% | Muvattupuzha, Kerala, India | |||
| Mbee Paper Prints Private Limited | ₹52.43 Cr (FY 2025) | -13.0% | Mumbai, Maharashtra, India | |||
| Navdurga Pulp and Paper Mills India Private Limited | ₹52.2 Cr (FY 2025) | 45.0% | Raipur, Chhattisgarh, India | |||
| Perfect Coated Papers India Private Limited | ₹52.09 Cr (FY 2024) | 13.0% | Coimbatore, Tamil Nadu, India | |||
| Calcutta Paper Industries Private Limited | ₹51.85 Cr (FY 2025) | -14.0% | Kolkata, West Bengal, India | |||
| Rainbow Papers Limitedthis company | ₹29.82 Lakh (FY 2018) | -₹198.72 Cr | -99.0% | 944 | Ahmedabad, Gujarat, India |
To see the full peer comparison of Rainbow Papers Limited, buy the company report.
Auditor
Rainbow Papers Limited is audited by MEHTA LODHA & CO for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| MEHTA LODHA & CO | FY 2018 | 106250W |
Shareholding
The shareholding of Rainbow Papers Limited is on record for 3 financial years, the latest being FY 2018, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Rainbow Papers Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Apr 2015 | 10565750 | Indian Overseas Bank | ₹5 Cr | Satisfied | |
| 22 Oct 2014 | 10529050 | Axis Bank Limited | ₹9 Cr | Satisfied | |
| 09 Oct 2014 | 10526173 | Indian Overseas Bank | ₹5 Cr | Satisfied | |
| 25 Sep 2014 | 10523467 | Axis Bank Limited | ₹34.25 Cr | Satisfied | |
| 30 Jun 2014 | 10509450 | Indian Overseas Bank | ₹5 Cr | Satisfied |
To see the full charge records of Rainbow Papers Limited, buy the company report.
Total charge records: 51 View all charges
Deals & funding
Rainbow Papers Limited has 49 deals on record (45 market trades, 2 funding rounds, 2 convertible or debt financings), with disclosed funding of ₹276.01 Cr; the latest was in May 2016.
Deals on record (5 of 49)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2016 | Market trade | ₹2.04 Cr | Buyer: Vraj Enterprises, an individual Seller: Finquest Financial Solutions Private Limited |
| Oct 2014 | Market trade | ₹16.65 Cr | Buyer: Mangal Keshav Capital Limited Seller: BDR Securities Limited |
| Jun 2013 | Market trade | ₹3.85 Cr | Buyer: Devkant Synthetics (India) Private Limited Seller: an individual |
| Jun 2013 | Market trade | ₹3.85 Cr | Buyer: Devkant Synthetics (India) Private Limited Seller: an individual |
| May 2013 | Market trade | ₹9.07 Cr | Buyer: BDR Securities Limited Seller: Man Industries (India) Limited |
To see the full deal history of Rainbow Papers Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Rainbow Papers Limited has 584 court cases on record: 66 filed by Rainbow Papers, 518 filed against it. 24 cases are pending and 560 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 528 | 481 | 8 |
| High courts | 43 | 28 | 14 |
| Supreme Court | 8 | 6 | 1 |
| NCLAT | 3 | 3 | 1 |
| NCLT | 2 | 0 | 0 |
Cases on record (5 of 584)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, GANDHINAGAR, Gujarat | Commercial matter | Filed against the company by Uttar Gujarat Vij Company Limited Through Executive Engineer Majamudar Darshan Madhukar | Pending |
| High Court of Gujarat | Appeal | Filed against the company by Royal Sundaram Alliance Insurance Company Ltd | Pending |
| Supreme Court | Court case (1431-Criminal Matters : Matters challenging prosecution under Negotiable Instruments Act) | Filed by the company against Tourism Finance Corporation of India Ltd. Managing Director 13Th Floor, Ifci Tower-61, Nehru Place ,New Delhi , Delhi | Pending |
| Bombay High Court | Writ petition | Filed by the company against Ifci Ltd and Ors and 1 other | Pending |
| NCLT, Ahmedabad | Insolvency matter | Filed by the company against Axis Bank Limited and 8 others | Disposed |
To see the full case history of Rainbow Papers Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Rainbow Papers Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Rainbow Papers Limited has a workforce of 944 employees on its EPFO records as of Mar 27, 2024, across 2 active EPFO establishments.
GST
Rainbow Papers has 2 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Rainbow Papers Limited, buy the company report.
Recent activity
Rainbow Papers Limited has 37 board changes on record since 1990: 22 appointments and 15 cessations. The latest: Runel Umang Rathi ceased to be Company Secretary on 16 Jan 2016.
142 earlier events are in the company report.
Frequently asked questions
Rainbow Papers has been "Converted to LLP" - the business changed its legal structure from a company to a Limited Liability Partnership. The original company no longer exists in its previous form. For the latest information, refer to the successor LLP entity registered with MCA.
Rainbow Papers was a public limited company based in Ahmedabad, Gujarat, India. The company worked in paper and packaging products, within the manufacturing industry. It was incorporated on 04 July 1986 and is registered under CIN L21010GJ1986PLC008772. For the latest details, refer to the successor LLP entity.
The CIN (Corporate Identification Number) of Rainbow Papers is L21010GJ1986PLC008772. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Rainbow Papers had 7 directors and KMP:
- Ajaykumar Radheshyam Goenka - Managing Director
- Rahul Jamnaprasad Maheshwari - Whole-Time Director
- Abhilash Khimabhai Shakya - Director
- Indrasinh Becharsinh Zala - Director
- Kantibhai Hirabhai Patel - Director
- Aanal Nandik Trivedi - Director
- Shashikant Natverlal Thakar - Company Secretary
Rainbow Papers is recorded as a listed company by MCA, but trading in its shares on BSE (523523) has been suspended, so they do not currently trade on a stock exchange.
Rainbow Papers was incorporated on 04 July 1986. It is registered with the Registrar of Companies, Ahmedabad.
Rainbow Papers can be reached through the website rainbowpapers.com. Its registered office is in Ahmedabad, Gujarat, India.
The registered office of Rainbow Papers is at 801 Avdesh House 8th Floor Opp Guru Gobind Gurudwara Gandhinagar – Sarkhej Highway, Ahmedabad, Gujarat, India – 380054.
The latest financial statements of Rainbow Papers on record with the MCA are for the year ended 31 March 2018. Its last annual general meeting was held on 28 September 2018. Year-wise statements from 2015 are in the company report.
No. Rainbow Papers has 2 GST registrations on record and all of them are cancelled or inactive.
Rainbow Papers operated in the manufacturing industry, in the paper and packaging products segment.