Castor oil selling turned to be its biggest scourge. Ruchi's strongest desire to sell castor seeds on the commodities exchange was its major cause of downfall. Due to fall in global prices of castor seeds from Rs 5100/quintal in January 2015 to Rs. 3051/quintal in January 2016, Ruchi incurred a loss of Rs. 878.7 crores. It was the first time since its inception, it suffered a loss. Debt increased from Rs. 2568 crores to Rs. 4513 crores in 2 years as it has taken loans from lenders and various banks. Now investors started demanding their money to recover their dues which was Rs. 10,000 crores.
The following bar-graph shows Ruchi's short term and long term borrowing from FY13 to FY18
pic source: Google
The following bar-graph shows Ruchi's short term and long term borrowing from FY13 to FY18
pic source: Google
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