**(Formerly Checkpoint Trends Limited / Rubra Medicaments Limited)** Centuple Global Limited (CGL) is a Mumbai-headquartered entity currently undergoing a radical strategic transformation. Historically a pharmaceutical trading firm (as Rubra Medicaments), the company has pivoted through a series of name changes and business mandates to emerge as a diversified **Agro-based food products, Tobacco trading, and FMCG** powerhouse. The company is currently executing a massive capital restructuring and fund-raising program to transition from a loss-making legacy entity into a high-growth, multi-national trading and consultancy conglomerate. --- ### **Strategic Pivot: The Tobacco & Global Trading Mandate** The company has shifted its core focus away from manufacturing to concentrate on high-velocity trading and consultancy where market timing and valuation are the primary performance drivers. * **Acquisition of Global Tabbac Legacy:** A cornerstone of the current strategy is the takeover of **Global Tabbac Legacy**, a Nashik-based firm. This acquisition is designed to provide CGL with an immediate, established footprint in tobacco trading and distribution networks across Maharashtra and Northern India. * **International Footprint:** The Board has approved the incorporation of a **Wholly-Owned Subsidiary (WOS) in the United Kingdom**. This entity will serve as the international arm for **FMCG and general trading**, marking the company’s first major step into global markets. * **Operational Relocation:** To align with its new tobacco-centric operations, the company is moving its registered office from **Mumbai to Nashik, Maharashtra** (effective May 2025). This move is intended to improve supply chain efficiency and provide closer proximity to key procurement hubs. --- ### **Diversified Product Portfolio & Market Reach** CGL has expanded its operational mandates to cover the entire value chain of agricultural and consumer goods. | Category | Key Products & Activities | | :--- | :--- | | **Tobacco & Allied** | Trading, distribution, and supply chain management of tobacco products. | | **Agro-Commodities** | Trading and stocking of **Rice, Gram, Ragi, Wheat, Maize, Cashews, and Almonds**. | | **Processed Foods** | Manufacturing and trading of **Jams, Pickles, Frozen Meats, Fish, and Seafood**. | | **Specialty Nutrition** | **Baby foods, Dietetic foods, Instant foods**, and **Textured Soya Protein**. | | **Edible Oils & Fats** | Processing and refining of **Mustard, Sunflower, Soybean, and Palm oils**. | | **Dairy & Husbandry** | Operating **Dairy Farms**; production of **Cheese, Butter, Ghee, and Ice Cream**. | | **Energy & Tech** | Engineering consultation for **Electrical Power** and development of **E-commerce platforms**. | --- ### **Aggressive Capital Raising & Financial Engineering** To fund its ambitious expansion and clean its balance sheet, the company has authorized significant financial maneuvers: * **Massive Capital Increase:** The Authorized Share Capital was increased from **₹300 Crore** to **₹750 Crore** in late 2025 to facilitate large-scale fund-raising. * **Qualified Institutions Placement (QIP):** Approved for up to **₹500 Crore**, with **₹80 Crore** specifically earmarked for the acquisition of Global Tabbac Legacy. * **Convertible Warrants:** In March 2026, the company allotted **1,66,74,072 warrants** at **₹45.01** per warrant, totaling **₹170 Crore**. * **Foreign Investment Expansion:** The aggregate limit for **NRIs, OCIs, FIIs, and FPIs** has been increased to **100%**, signaling an intent to attract global institutional capital. * **Borrowing Power:** Borrowing limits have been raised to **₹200 Crore** to allow for future debt-based financing and debentures. --- ### **Balance Sheet Cleaning: The Capital Reduction Scheme** Recognizing that historical losses had "wiped off" the value of its share capital, CGL is executing a formal **Capital Reduction** under Section 66 of the Companies Act, 2013. * **The Write-off:** The company is writing off **₹4,92,14,700** of the debit balance in its P&L account to eliminate accumulated losses. * **Share Restructuring:** Paid-up capital is being reduced from **₹5,46,83,000** to **₹54,68,300**. This involves cancelling **₹9 per equity share**, shifting the face value from **₹10 to ₹1**. * **Objective:** This "reset" is intended to align the company’s capital structure with its actual tangible assets, making the balance sheet more attractive for future resource mobilization. --- ### **Financial Performance & Operational Metrics** While the company has recently turned a marginal profit, it remains in a recovery phase. | Metric (INR in thousands) | FY 2023-24 | FY 2022-23 | FY 2021-22 | | :--- | :--- | :--- | :--- | | **Income from Operations** | **11,309.35** | **11,617.79** | **0.00** | | **Net Profit / (Loss)** | **302.09** | **(785.51)** | **(365.18)** | | **Accumulated Losses** | **(4,931.18)** | - | - | * **Shareholding Structure:** As of March 2024, **78.08%** of shares are held in **Demat** form. Resident individuals hold **91.44%**, while bodies corporate hold **7.28%**. * **Institutional Interest:** In February 2025, **Nova Global Opportunities Fund PCC Touchstone** acquired **2,93,713** shares at **₹9.48** per share. --- ### **Leadership & Governance Restructuring** The management team has been overhauled to support the new focus on tobacco and FMCG sectors: * **Mr. Shubham Chaudhary (MD & CFO):** Appointed for a three-year term (2025–2028); brings **8 years** of experience in sales growth and marketing. * **Mr. Pradeep Kumar (Whole-Time Director):** A tobacco industry veteran with over **15 years** of experience in regulatory compliance and supply chain management. * **Mr. Anuj Kumar Agarwal (Whole-Time Director):** Appointed in February 2026 to bolster the executive leadership during the transition. * **Remuneration:** Approved base pay for WTDs ranges from **₹6,00,000 to ₹12,00,000** per annum. --- ### **Risk Factors & Critical Challenges** Investors should note the following headwinds identified in recent audits and filings: * **Liquidity Constraints:** The company has faced a **financial crisis** that led to the **non-payment of listing fees**, resulting in a **qualified opinion** from the Secretarial Auditor (M/s. MNB & Co. LLP). * **Historical Deficits:** Despite the capital reduction, the company has noted that the chances of full recovery from historical losses remain a challenge, depending heavily on the success of the new tobacco and FMCG ventures. * **Regulatory Compliance:** While no fraud has been reported and no IBC proceedings are pending, the company’s ability to maintain its "Going Concern" status is contingent on the successful execution of its new business plans. * **Market Volatility:** As a trading-centric entity, performance is highly sensitive to commodity price fluctuations and timing-based market valuations.