Paradise Consumer Products Limited
About Paradise Consumer Products Limited
Data last updated:
Paradise Consumer Products Limited is a public limited company based in Jalgaon, Maharashtra, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the industrial packaging solutions segment of the packaging sector. It was incorporated on 11 November 1988.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U28100MH1988PLC049613. The company has 1 GST registration on record, which is no longer active.
The company has an authorised share capital of ₹6 Cr and a paid-up capital of ₹4.07 Cr. It was formerly known as Paradise Polymers Ltd and Paradise Polymers Private Limited. It is led by directors Randhirsing Dilipsing Patil (Managing Director) and Chhaya Himmatrao Surve.
Its last annual general meeting (AGM) was held on 30 September 2019, and its latest financial statements are for the year ended 31 March 2019. The registered office is at 4 Lunkao Towersnear G P O, Jalgaon, Maharashtra, India – 425001.
As per the financials filed for FY 2019, the company reported a revenue of ₹10.69 Cr, a decline of 58% compared to the previous year. For the same year it recorded a net loss of ₹4.24 Cr (net margin -39.7%) and EBITDA of -₹2.42 Cr (EBITDA margin -22.6%). Revenue has declined at a compounded annual rate (CAGR) of 23% over three years.
As per MCA filings, the company has open charges of ₹38.41 Cr and satisfied charges of ₹65.5 Lakh on record. Court records list 39 cases involving the company, including 21 filed by the company and 18 filed against it; 10 cases are pending.
Company details
Name history
Paradise Consumer Products has undergone 2 name changes throughout its history. The company was previously known as Paradise Polymers Ltd, and Paradise Polymers Private Limited. The current legal name is Paradise Consumer Products Limited.
| Company Name | Status |
|---|---|
| Paradise Consumer Products Limited | Current |
| Paradise Polymers Ltd | Previous |
| Paradise Polymers Private Limited | Previous |
CIN history
Paradise Consumer Products has one previous CIN (Corporate Identification Number): U24130MH1988PLC049613. The current CIN is U28100MH1988PLC049613, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U28100MH1988PLC049613 | Current |
| U24130MH1988PLC049613 | Previous |
Contact details
Paradise Consumer Products Limited's registered office is in Jalgaon, Maharashtra. Its e-mail address is in the company report.
- Email
- Registered Address4 Lunkao Towersnear G P O, Jalgaon, Maharashtra, India – 425001
- IndustryPackaging, Industrial Packaging Solutions
To see the full contact details of Paradise Consumer Products 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
Business activity
The main business activity of Paradise Consumer Products is trade. In detail, this covers wholesale trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Paradise Consumer Products Limited, buy the company report.
Financials of Paradise Consumer Products Limited
FY 2019 filings availableParadise Consumer Products Limited reported revenue of ₹10.69 Cr (down 58% YoY) for FY 2019.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 23% over three years, including a 58% fall in the latest year. EBITDA fell 229% 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 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
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| EBITDA | -₹2.42 Cr | ||||
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| Net Profit (PAT) | -₹4.24 Cr | ||||
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Financial Ratios
| Metrics | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -22.6% | ||||
| Net Profit Margin | -39.7% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Paradise Consumer Products Limited, buy the company report.
Board of directors and KMP of Paradise Consumer Products Limited
Paradise Consumer Products Limited currently reports 2 directors and 1 key managerial person. 3 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Chhaya Himmatrao Surve | Director | 09 Nov 2017 | 8 Years 11 Months | As last reported |
| Bhimsing Harsing Patil | Cfo | 18 May 2018 | 8 Years 5 Months | As last reported |
| Randhirsing Dilipsing Patil Also directs: Impeccable Packaging Solutions Private Limited | Managing Director | 11 Nov 1988 | 37 Years 11 Months | As last reported |
Auditor
Paradise Consumer Products Limited is audited by S P PIMPALWAR & CO for the financial year 2017.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S P PIMPALWAR & CO | FY 2017 | 113395W |
Shareholding
The shareholding of Paradise Consumer Products Limited is on record for 2 financial years, the latest being FY 2017, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2017 | FY 2016 |
|---|---|---|
| Promoters | ||
| Domestic institutional investors (DII) | ||
| Foreign institutional investors (FII) | ||
| Public | ||
| Others |
To see the full shareholding pattern of Paradise Consumer Products Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Nov 2013 | 10463324 | Bank of India | ₹4 Cr | Open | |
| 18 Apr 2013 | 10423010 | Central Bank of India | ₹2 Cr | Open | |
| 07 May 2010 | 10222902 | Small Industries Development Bank of India | ₹4 Cr | Open | |
| 07 May 2010 | 10227671 | Small Industries Development Bank of India | ₹6.35 Cr | Open | |
| 24 Jun 1997 | 90234342 | Central Bank of India | ₹2.5 Cr | Open |
To see the full charge records of Paradise Consumer Products Limited, buy the company report.
Total charge records: 10 View all charges
Legal cases
Paradise Consumer Products Limited has 39 court cases on record: 21 filed by Paradise Consumer Products, 18 filed against it. 10 cases are pending and 29 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 26 | 7 | 6 |
| District courts | 8 | 7 | 3 |
| NCLAT | 3 | 2 | 1 |
| NCLT | 2 | 2 | 0 |
Cases on record (5 of 39)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Writ petition | Filed against the company by The Maharashtra State Electricity Distribution Company Ltd Through Its Superindenting Engineer | Pending |
| Bombay High Court | Court case (IPA) | Filed by the company against Varsha Corporation Ltd | Pending |
| Bombay High Court | Court case (SCN) | Filed against the company by Varsha Corporation Ltd. | Pending |
| Bombay High Court | Company petition | Filed against the company by Varsha Corporation Ltd. | Pending |
| High Court, MAHARASHTRA | Interim or miscellaneous application | Filed by the company against Varsha Corporation Ltd | Disposed |
To see the full case history of Paradise Consumer Products 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.
Credit ratings & regulatory alerts
Paradise Consumer Products Limited was last rated by Care on 28 Jul 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 28 Jul 2020 |
To see the full credit ratings and regulatory alerts of Paradise Consumer Products Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Paradise Consumer Products Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Paradise Consumer Products has 1 associated company. This group structure data is as of FY 2017. The table lists each entity with its relationship and holding.
GST
Paradise Consumer Products has 1 GST registration on record, and it has been cancelled or is inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Paradise Consumer Products Limited, buy the company report.
Recent activity
Paradise Consumer Products Limited has 5 board changes on record since 1988: 3 appointments and 2 cessations. The latest: Bhimsing Harsing Patil was appointed as CFO on 18 May 2018.
12 earlier events are in the company report.
Frequently asked questions
Paradise Consumer Products is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Paradise Consumer Products is a company under insolvency, formerly operating as a public limited company based in Jalgaon, Maharashtra, India. The company works in industrial packaging solutions, within the packaging industry. It was incorporated on 11 November 1988 and is registered under CIN U28100MH1988PLC049613. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Paradise Consumer Products has 3 current directors and KMP:
- Randhirsing Dilipsing Patil - Managing Director
- Chhaya Himmatrao Surve - Director
- Bhimsing Harsing Patil - Cfo
The latest financial statements of Paradise Consumer Products on record with the MCA are for the year ended 31 March 2019. Its last annual general meeting was held on 30 September 2019. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Paradise Consumer Products is U28100MH1988PLC049613. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Paradise Consumer Products has open charges of ₹38.41 Cr and satisfied charges of ₹65.5 Lakh as per latest MCA filings.
Paradise Consumer Products has 39 court cases on record: 21 filed by the company and 18 filed against it. 10 are pending. Most are in the high courts.
Paradise Consumer Products was incorporated on 11 November 1988. It is registered with the Registrar of Companies, Mumbai.
Bhimsing Harsing Patil was appointed as CFO on 18 May 2018. Harkant Parikshit Oza ceased to be Director on 11 Nov 2017. Chhaya Himmatrao Surve was appointed as Director on 09 Nov 2017. Paradise Consumer Products has 5 board changes on record in total.
The registered office of Paradise Consumer Products is at 4 Lunkao Towersnear G P O, Jalgaon, Maharashtra, India – 425001.
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