diff --git a/patches/march_2013/p07_update_valuation_rate.py b/patches/march_2013/p07_update_valuation_rate.py
new file mode 100644
index 00000000000..0bce8a47eca
--- /dev/null
+++ b/patches/march_2013/p07_update_valuation_rate.py
@@ -0,0 +1,13 @@
+import webnotes
+
+def execute():
+	for purchase_invoice in webnotes.conn.sql("""select distinct parent 
+		from `tabPurchase Invoice Item` where docstatus = 1 and ifnull(valuation_rate, 0)=0"""):
+		pi = webnotes.get_obj("Purchase Invoice", purchase_invoice)
+		pi.calculate_taxes_and_totals()
+		pi.update_raw_material_cost()
+		pi.update_valuation_rate("entries")
+		for item in pi.doclist.get({"parentfield": "entries"}):
+			webnotes.conn.set_value("Purchase Invoice Item", item.name, "valuation_rate",
+				item.valuation_rate)
+	
\ No newline at end of file