Rollatainers Ltd is a listed shell in the final stages of unwinding - a 1968-vintage packaging pioneer that sold or shut every operating business and now exists as a two-employee entity earning service fees from related parties while its board clears the last subsidiaries and joint ventures. The recurring approach is one of orderly retreat: when a business stopped generating cash, management impaired it, sold the assets, and used the proceeds to settle obligations, shrinking the company to its legal and listing skeleton. # Business segments Three engines, all in runoff - a packaging factory that has been dismantled, a café-and-restaurant chain that was sold, and a residual leasing activity that now constitutes the entire business. ## 1. Packaging products: the shuttered factory **The subsidiary that once made cartons, laminates and packaging machines for India's largest FMCG brands has been fully impaired, its plant sold, and its shares disposed of to a promoter entity.** - **One-stop shop for FMCG giants** - RT Packaging Limited supplied printed lined cartons, flexible laminates, pouches and packaging machines to Amul, Hindustan Unilever, Nestle, Pepsi and Britannia, making it one of the few integrated players across paperboard, flexible packaging and machinery. - **Certifications unlocked export-grade orders** - the factory held FSC chain-of-custody, SEDEX and BRC IOP (food-safety) certifications, which helped it win business from large multinationals and reinforced its position as a preferred supplier. - **Dismantled in stages** - shareholders approved the sale of RT Packaging's assets in July 2022 with 99.9% of votes in favour; the plant and machinery were sold to a third party a month later, and during the financial year ending March 2024 the subsidiary decided to sell its land and building. - **Exited entirely** - Rollatainers' equity and preference shares in RT Packaging, already written down to nil on its books, were sold to the promoter group for a token ₹1 lakh in November 2025, ending the subsidiary relationship. ## 2. Food business: the café chain that was sold **Barista Coffee and the Kylin restaurants were built into a national footprint and then divested in a single transaction, exiting the food-and-beverage segment entirely.** - **Asset-light café network** - Barista operated more than 170 franchise-owned stores across 78 Indian cities plus 15 stores in Sri Lanka and the Maldives, using a FOFO (Franchise Owned, Franchise Operated) model that kept capital requirements low. - **Sold to the other current shareholders** - the board approved disposal of the entire investment in Boutonniere Hospitality (the holding company for Barista and Kylin) in August 2021 for ₹34 crore, and the share purchase agreement with Birbal Advisory was signed in January 2022, at which point Boutonniere ceased to be an associate. ## 3. Leasing and related services: what remains **With every operating business gone, the company's sole revenue comes from rendering services to its holding company, subsidiary and associates - a single reportable segment with no physical operations.** - **Rental income from a subsidiary's land** - the only identified revenue-generating activity in recent years was operating-lease rental on land and building owned by the subsidiary, booked as the Company's income. - **Services to related parties** - by FY25, the company itself earned revenue by providing services to WLD Investments (its holding company), RT Packaging (its then-subsidiary) and its joint venture or associate entities. - **No operating segments remain** - management does not review separate business lines for resource allocation, and the entire activity falls within one segment as of May 2024, with no manufacturing, inventory or operational segments reported. # Group structure and partners **The company is a tightly held promoter vehicle with a single remaining subsidiary sold to the promoter group, a struck-off joint venture, and an associate that went through insolvency - all while the listed shell stays alive with no debt.** - **Holding company is the controlling shareholder** - WLD Investments Private Limited is the holding company, and the promoter group also includes Newtime Infrastructure Limited. - **Subsidiary and joint venture were sold to the promoter** - RT Packaging Limited (90% owned) was sold to WLD Investments in November 2025; the 50% stake in Rollatainers Toyo Machines, already struck off by the Ministry of Corporate Affairs, was sold to the same promoter entity in December 2025. - **Associate went through insolvency** - Oliver Engineering Private Limited (48% holding) had the CIRP process completed against it and was included in consolidated results only until September 2023. - **Enforcement Directorate attachment exists but is ring-fenced** - a provisional attachment order from September 2024 covers the subsidiary's immovable properties, promoter shares and one bank account each of the company and subsidiary; the company states this does not affect its business operations.