MIRA INFORM REPORT

Report Date :

03.05.2012

IDENTIFICATION DETAILS

Name :	SUPERHOUSE LIMITED (w.e.f. November, 2006)
Formerly Known As :	SUPERHOUSE LEATHERS LIMITED
Registered Office :	150 Feet Road, Jajmau, Kanpur – 208 010, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.01.1980
Com. Reg. No.:	20 - 4910
Capital Investment / Paid-up Capital :	Rs.114.198 Millions
CIN No.: [Company Identification No.]	L24231UP1980PLC004910
TAN No.: [Tax Deduction & Collection Account No.]	KNPS01554A
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacture and Exports of Shoe Uppers, Chrome Leather, Sole Leather, Shoes, Sole/Cut Soles, Leather Garment, Textile Garments and Leather Goods.
No. of Employees :	1204 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 5000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established and reputed company having fine track. The company is progressing well. Directors are reported as experienced and respectable businessmen. Trade relations are reported as fair. Payments are usually correct and as per commitments. Fundamentals are strong and healthy. The company can be considered normal for business dealings at usual trade terms and conditions. The company can be regarded as a promising business partner in a medium to long -run

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	150 Feet Road, Jajmau, Kanpur – 208010, Uttar Pradesh, India
Tel. No.:	91-512-2351120/ 2351867/ 2450391/ 2450373/ 2450396/ 2450398/ 2463373/ 2461391/ 2464398
Fax No.:	91-512-2450814/ 2820325/ 2451124/ 2460814/ 2460296/ 2462124
E-Mail :	share@superhousegroup.com superhou@lw1.vsnl.net.in super@sancharnet.in dkdheer@superhousegroup.com
Website :	http://www.supergroup.com http://www.superhousegroup.com http://www.superhouse.in
Corporate Office :	D-15/B, UPSIDC, Industrial Area, Phase-II Unnao – 209801.
Tel. No.:	91-515-2029452/ 2829923/ 2829657/ 2829037
Fax No.:	91-515-2929325/ 2829190
Plants:	Fashion Shoe Division Unit I D-15, UPSIDC Industrial Area, Site-II, Unnao-209 801, India Fashion Shoe Division Unit II A-3, Export Promotion Industrial Park, Agra, India Fashion Shoe Division Unit III A-5,UPSIDC Industrial Area, Site-B, Sikandra, Agra-282007, India Fashion Shoe Division Unit IV D-18, UPSIDC Industrial Area, Site-II, Unnao-209801, India Tannery No. 1 A-1, Site-II, Industrial Area, Unnao-209801, India Tannery No. 2 B-16, UPSIDC Industrial Area, Site-II, Unnao-209 801, India Safety Footwear Division-I B-6, UPSIDC Industrial Area, Site-I, Unnao-209 801, India Safety Footwear Division-II 150 Feet Road, Jajmau, Kanpur-20801, Uttar Pradesh, India Upper Division 71-A, Jajmau, Kanpur-208010, Uttar Pradesh, India Readymade Garments Division-I A-14, Sector-65, Phase-III, Noida-201303, Uttar Pradesh, India Readymade Garments Division-II A-5, Sector-59, Noida-201303, Uttar Pradesh, India Safety Garments Division E-23, 24 UPSIDC Industrial Area, Site-I, Unnao-209801, India Leather Garments Division C-10, Sector-58, Phase-II. Noida, Uttar Pradesh, India
Division Offices:	Upper Division 102/88 - A (10) Wazidpur, 150 Feet Road, Jajmau Kanpur – 2080010 Tel: 91-515 - 2460496,2463373,2461391 Fax: 91-515 - 2460814,2462124 Chrome Tannery Division A-1 C-1 Industrial Area, Site-II, Unnao – 209801 Tel: 91-515 - 2829750, 2829850 Fax: 91-515 - 2829325, 2829190 Goat Tannery B-15,16 and 17, Industrial Area, Site, Unnao – 209801 Tel: 91-515 - 2829845, 2829812, 2829248 Fax: 91-515 - 2829658, 2829190 Harness and Sole Tannery B-16 and 17, Site II Industrial Area, Unnao - 209801 INDIA Tel.:  91-515 - 282845, 2829812, 2829248, 2829658 Fax.: 91-515 - 2829190 Shoe Division D-15/B, UPSIDC, Industria Area, Phase-II, Unnao – 209801 Tel: 91-515 - 2829452, 2829923, 2829657, 2829037 Fax: 91-515 - 2829325, 2829190 Safety Footwear Division B-6, Site-I UPSIDC, Industrial Area Unnao – 209801 Tel: 91-515 - 2829656, 2829384, 2829675, 2829803 Fax: 91-515 - 2829325, 2829190 Fashion Shoe Division I Plot No. A-3, A-4, B-4, B-5, B-6 Export Promotion Industrial Park (EPIP) Shastri Puram, Agra Tel: 91-562 - 26423352, 2640183, 2642336 Fax: 91-562 – 2640184 Fashion Shoe Division II A-5, UPSIDC, Industrial Rea, Site-B, Sikandra, Agra Shastri Puram, Agra Tel: 91-562 – 2642336 Leather Garments Division B-37, Sector - 59 Phase-II, Noida Tel: 91-120 - 2584819, 2585819 Fax: 91-120 – 2584976 Textile Garments Division C-10, Sector-58 Phase-II Noida Tel: 91-120 - 2580095,2490630 Fax: 91-120 – 2580095 Marketing Office, Bangalore Marketing Office, Noida C-10, Sector-58, Phase-II, Noida Tel: 91-120 - 2580095,2490630 Fax: 91-120 – 2580095 Marketing Office, Chennai 42/1/II, Main Road, Kalaimagal Nagar, Ekkathuthqngal Channai – 600097 Telfax: 91-44 – 22253731 Super Footwear Limited Shed No.1, Leather Complex, Site-II, Industrial Area, Unnao – 209801 Fax: 91-515 - 2829325,2829190 Superhouse Shoes Limited E-54, UPSIDC, Industrial Area, Phase-II, Unnao Tel: 91-515 – 2829289 Amin International Limited E-55, UPSIDC, Industrial Area Phase-II Unnao Tel: 91-515 - 2829704
Overseas Offices:	Located At: · UK · USA · UAE · Denmark · China

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Mukhtarul Amin

Designation :

Chairman cum Managing Director

Address :

15/288, Civil Lines, Kanpur – 208001, Uttar Pradesh, India

Date of Birth :

17.02.1952

Qualification :

B.Sc.

Date of Appointment :

01.11.1990

DIN No.:

00012108

Other Directorships :

S.No.	CIN	Name of the company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L24231UP1980PLC004910	SUPERHOUSE LIMITED	Managing director	1/3/2009	2/9/1984	-	Active	NO
2	U90002UP1991NPL013823	UNNAO TANNERIES POLLUTION CONTROL COMPANY	Director	16/12/1991	16/12/1991	-	Active	NO
3	U19129DL1997PTC091253	TRITAN LEATHER WORKS PRIVATE LIMITED	Director	19/12/1997	19/12/1997	-	Active	NO
4	U80211UP2004PLC028406	SUPERHOUSE EDUCATIONAL FOUNDATION	Director	16/03/2004	16/03/2004	-	Active	NO
5	U29219UP2004PLC029284	CREEMOS INTERNATIONAL LIMITED	Director	3/12/2004	3/12/2004	-	Active	NO
6	U45208UP2005NPL029731	INDUSTRIAL INFRASTRUCTURE SERVICES (INDIA)	Director	30/03/2005	30/03/2005	-	Active	NO
7	U45201UP2006PLC031511	AMIN COLONIZERS AND DEVELOPERS LIMITED	Director	17/03/2006	17/03/2006	-	Active	NO
8	U93090TN1984NPL010934	COUNCIL FOR LEATHER EXPORTS	Director	10/1/2007	10/1/2007	-	Active	NO
9	U19115UP2008PLC041646	KANPUR - UNNAO LEATHER CLUSTER DEVELOPMENT COMPANY LIMITED	Director	8/5/2008	11/4/2008	-	Active	NO
10	U85300DL2008NPL181612	NATIONAL SKILL DEVELOPMENT CORPORATION	Director	15/09/2008	15/09/2008	15/01/2009	Active	NO
11	U85191UP2009PTC038346	AZAD MULTISPECIALITY HOSPITALS AND RESEARCH CENTRE PRIVATE LIMITED	Additional director	20/11/2009	20/11/2009	-	Active	NO
12	U80904UP2009PLC038784	KNOWLEDGEHOUSE LIMITED	Director	26/11/2009	26/11/2009	-	Active	NO
13	U15122UP2003PLC027772	MODRIBA HYGIENE SOLUTIONS LIMITED	Director	12/1/2011	12/1/2011	15/03/2011	Active	NO

Name :

Mr. Zafarul Amin

Designation :

Managing Director

Address :

15/288, Civil Lines, Kapur – 208001, Uttar Pradesh, India

Date of Birth :

27.01.1983

Date of Appointment :

30.01.2002

DIN No.:

00015533

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	L24231UP1980PLC004910	SUPERHOUSE LIMITED	Managing director	1/4/2009	30/01/2002	Active	NO
2	U80904UP2009PLC038784	KNOWLEDGEHOUSE LIMITED	Director	26/11/2009	26/11/2009	Active	NO

Name :

Mrs. Shahina Mukhtar

Designation :

Wholetime Director

Address :

15/288, Civil Lines, Kanpur – 208001, Uttar Pradesh, India

Date of Birth :

05.01.1956

Date of Appointment :

14.01.1980

DIN No.:

00015442

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	L24231UP1980PLC004910	SUPERHOUSE LIMITED	Whole-time director	1/4/2009	14/01/1980	Active	NO
2	U80211UP2004PLC028406	SUPERHOUSE EDUCATIONAL FOUNDATION	Director	16/03/2004	16/03/2004	Active	NO
3	U80904UP2009PLC038784	KNOWLEDGEHOUSE LIMITED	Director	26/11/2009	26/11/2009	Active	NO

Name :

Mr. Vinay Sanan

Designation :

Executive Director

Address :

801, Gokul Apartment, 16/16 civil Lines, Kanpur – 208001, Uttar Pradesh, India

Date of Birth :

12.10.1956

Date of Appointment :

02.01.1996

DIN No.:

00014536

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	L24231UP1980PLC004910	SUPERHOUSE LIMITED	Whole-time director	1/8/2011	2/1/1996	Active	NO

Name :

Mr. Anil Kumar Agarwal

Designation :

Director Finance

Address :

249/2, Civil Lines, Kanpur, – 208001, Uttar Pradesh, India

Date of Birth :

05.12.1954

Date of Appointment :

15.10.1996

DIN No.:

00014645

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U90002UP1991NPL013823	UNNAO TANNERIES POLLUTION CONTROL COMPANY	Director	16/12/1991	16/12/1991	-	Active	NO
2	L24231UP1980PLC004910	SUPERHOUSE LIMITED	Whole-time director	1/4/2009	15/10/1996	-	Active	NO
3	U80211UP2004PLC028406	SUPERHOUSE EDUCATIONAL FOUNDATION	Director	16/03/2004	16/03/2004	-	Active	NO
4	U29219UP2004PLC029284	CREEMOS INTERNATIONAL LIMITED	Director	3/12/2004	3/12/2004	-	Active	NO
5	U15122UP2003PLC027772	MODRIBA HYGIENE SOLUTIONS LIMITED	Director	12/1/2011	12/1/2011	15/03/2011	Active	NO

Name :

Mr. Mohammad Shadab

Designation :

Wholetime Director

Address :

13/392-A-1, Civil Lines, Kapur – 208001, Uttar Pradesh, India

Date of Birth :

16.01.1977

Date of Appointment :

22.08.1997

DIN No.:

00098221

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	L24231UP1980PLC004910	SUPERHOUSE LIMITED	Whole-time director	1/4/2009	22/08/1998	Active	NO

Name :

Mr. Anil Soni

Designation :

Director

Address :

120/243, Lajpat Nagar, Kapur – 208012, Uttar Pradesh, India

Date of Birth :

22.08.1961

Date of Appointment :

06.03.2004

DIN No.:

00023188

Name :

Dr. Krishna Kumar Agarwal

Designation :

Director

Address :

IV-23, Laxmi Bagh – colony – Lawab Ganj, Kanpur – 208002, Uttar Pradesh, India

Date of Birth :

31.01.1953

Date of Appointment :

06.03.2004

DIN No.:

00022719

Name :

Mr. Kamal Agarwal

Designation :

Director

Address :

117/277-0-Block, Geeta Nagar, Kanpur – 208025, Uttar Pradesh, India

Date of Birth :

22.12.1952

Date of Appointment :

28.01.2006

DIN No.:

00022904

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74300UP1990PLC012172	ROJUS ENTERPRISES LIMITED	Director	30/11/1998	30/11/1998	Active	NO
2	L24231UP1980PLC004910	SUPERHOUSE LIMITED	Director	28/01/2006	28/01/2006	Active	NO

Name :

Mr. Nemi Chand Jain

Designation :

Director

Address :

601, Sanskruti, Plot No.2, Sector – 42, Nerul, Navi Mumbai – 400706, Maharashtra, India

Date of Birth :

16.05.1939

Date of Appointment :

05.09.2005

DIN No.:

00031283

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U65990MH1994PTC078713	LEX INFOTAX (INDIA) PRIVATE LIMITED	Director	14/02/2002	14/02/2002	-	Active	NO
2	L92132MH1982PLC028767	ZEE ENTERTAINMENT ENTERPRISES LIMITED	Director	18/07/2002	18/07/2002	31/03/2011	Active	NO
3	L24231UP1980PLC004910	SUPERHOUSE LIMITED	Director	5/9/2005	5/9/2005	-	Active	NO
4	L72900MH1999PLC151355	ETC NETWORKS LIMITED	Director	22/07/2006	22/07/2006	-	Amalgamated	NO

Name :

Mr. Javed Ali Hashmi

Designation :

Director

Address :

89/218-C, Flat No.101, Dalal Purwa, Kanpur – 208001, Uttar Pradesh, India

Date of Birth :

29.05.1973

Date of Appointment :

30.01.2010

DIN No.:

00014726

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U15494UP1995PLC017879	AMIN INTERNATIONAL LIMITED	Director	26/02/2001	26/02/2001	-	Active	NO
2	U15122UP2003PLC027772	MODRIBA HYGIENE SOLUTIONS LIMITED	Director	6/2/2006	6/2/2006	-	Active	NO
3	U45202UP2005PTC031066	ALLEN INFRASTRUCTURES PRIVATE LIMITED	Director	8/7/2006	8/7/2006	20/06/2008	Active	NO
4	U45400UP2008PTC035014	UNIQUE INFRA AND MART PRIVATE LIMITED	Director	16/04/2008	16/04/2008	-	Active	NO
5	U19111UP1991PLC013492	CHOWDHARY OVERSEAS LIMITED	Additional director	27/01/2009	27/01/2009	-	Active	NO
6	U74300UP1990PLC012172	ROJUS ENTERPRISES LIMITED	Additional director	27/01/2009	27/01/2009	-	Active	NO
7	U51109UP1985PLC007002	STEVEN CONSTRUCTION LIMITED	Additional director	27/01/2009	27/01/2009	-	Active	NO
8	U24231UP1994PLC017329	SUPERHOUSE ACCESSORIES LIMITED	Additional director	27/01/2009	27/01/2009	-	Active	NO
9	L24231UP1980PLC004910	SUPERHOUSE LIMITED	Director	30/01/2010	30/01/2010	-	Active	NO
10	U80904UP2009PLC038784	KNOWLEDGEHOUSE LIMITED	Director	21/12/2010	21/12/2010	-	Active	NO

Name :

Mr. Dilip Kumar Dheer

Designation :

Director

Address :

120/233, Lajpat Nagar, Kanpur – 208005, Uttar Pradesh, India

Date of Birth :

01.03.1950

Date of Appointment :

13.11.2010

DIN No.:

03341879

KEY EXECUTIVES

Name :	Mr. Raj Kumar Agrawal
Designation :	Company Secretary
Address :	133/92-0-Block, Kidwai Nagar, Kanpur – 208023, Uttar Pradesh, India
Date of Birth :	01.04.1959
Date of Appointment :	07.06.2007
PAN No.:	AEIPA3874Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.12.2011

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	2,317,726	21.02
Bodies Corporate	3,691,966	33.49
Sub Total	6,009,692	54.51
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	6,009,692	54.51
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	3,587	0.03
Financial Institutions / Banks	4,025	0.04
Sub Total	7,612	0.07
(2) Non-Institutions
Bodies Corporate	617,770	5.60
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 Million	3,965,204	35.97
Individual shareholders holding nominal share capital in excess of Rs.0.100 Million	347,121	3.15
Any Others (Specify)	77,601	0.70
Non Resident Indians	77,601	0.70
Sub Total	5,007,696	45.42
Total Public shareholding (B)	5,015,308	45.49
Total (A)+(B)	11,025,000	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	-	-
(1) Promoter and Promoter Group	-	-
(2) Public	-	-
Sub Total	-	-
Total (A)+(B)+(C)	11,025,000	-

BUSINESS DETAILS

Line of Business :

Manufacture and Exports of Shoe Uppers, Chrome Leather, Sole Leather, Shoes, Sole / Cut Soles, Leather Garment, Textile Garments and Leather Goods.

Products :

Item Code No.	Product Description
4104 and 4106 and 4107	Finished Leather
640610	Shoe Uppers
6403	Footwear

· Finished Leather

· Footwear

§ Fashion Shoe

§ Safety Shoe

§ Cowboy shoe

§ Riding Shoe

· Accessories

· Leather garments

· Rugs and Chaps

· Textile Garments

PRODUCTION STATUS (AS ON 31.03.2011)

Class of Goods	Unit	Capacity (per Annum)		Actual Production
		Licensed*	Installed**
Shoe Upper	Pairs	1000000	912000	317742
Leather Hides	Hides	1420000	900000	480558
Leather skin	Pcs	1500000	1750000	1175420
Shoes	Pairs	5200000	3422000	3281736
Leather Products	Pcs	50000	N. A.	288331
Textile Garment	Pcs	1150000	1530000	1059759
Animal Feed	MT.	900	720	225

Notes:

* Per memorandum of information filed with secretariat for industrial approvals, government of India.

** Being technical matter, as certified by the management.

*** Actual production represents entire production including interdivisional transfers, as it is not possible to ascertain the quantity intended for sale and those intended for internal use.

GENERAL INFORMATION

No. of Employees :

1204 (Approximately)

Bankers :

· Punjab National Bank

Kanpur, Uttar Pradesh, India

Tel. No. 91-512-2317986 / 2362117 / 2311577

Fax No. 91-512-2311232

· State Bank of India

Overseas Branch, 15/54-B, Civil Court Road, Civil Lines, Kanpur, Uttar Pradesh

Tel. No. 91-512-2354990 / 2368174

Fax No. 91-512-2313474

· Bank of Baroda

SME Branch, 117/K/21-B, Sarvodaya Nagar, Kanpur – 208025, Uttar Pradesh, India

· HDFC Bank

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

Secured Loans	31.03.2010	31.03.2009
	(Rs. In Millions)
From Banks
Working Capital Loans*	751.490	590.439
Short Term Borrowings buyers Credit Arrangement	16.000	28.444
Term Loan**	406.802	358.884
Interests accrued and due	3.661	2.009
Total	1177.953	979.776
Note: Of the above Term loans Rs. 175.053 millions are repayable within one year. * Secured by hypothecation of specific current assets and movable assets of the company both present and future and personal guarantee of two directors. ** Secured by equitable mortgage of specific fixed assets and hypothecation of Plant and Machineries and personal guarantee of two directors and includes Rs.8.597 Millions secured by hypothecation of vehicle financed.

Banking Relations :	--
Auditors :
Name :	Kapoor Tandon and Company Chartered Accountants
Address :	24/57, 1^st Floor, Birhana Road, Opposite Central Chest Clinic, Kanpur – 208001
Tel No.:	91-512-2361244
Fax No.:	91-512-2361244
Email :	nkapoornarendra@rediffmail.com kapoornarendra@rediffmail.com
Associates :	· Unnao Tanneries Pollution Control Company · (A company registered under Section 25 of the Companies Act, 1956) · Tritan Leather Works Private Limited · Prime International (a partnership firm) · Shoe House (a partnership firm) · Steven Construction Limited (formerly Superhouse Overseas Limited) · Chowdhary Overseas Limited · Amin International Limited · Aleena International · Rojus Enterprises Limited (formerly Nigar Enterprises Limited) · Moderiba Hygene Solutions Limited · Superhouse Accessories Limited · Creemos International Limited · Knowledgehouse Limited
Subsidiaries :	· Superhouse (U.K.) Limited, UK · Superhouse (USA) International Inc., USA · Superhouse Middle East FZC, Azman · Superhouse Ro SRL, Romania · Superhouse (HK) Limited · Superhouse Canada INC

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital : Rs.300.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.114.198 Millions

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10.00 each	Rs.150.000 millions

Issued, Subscribed Capital :

No. of Shares	Type	Value	Amount
14972718	Equity Shares	Rs.10.00 each	Rs.149.727 millions

Paid-up Capital :

No. of Shares	Type	Value	Amount
11025000	Equity Shares	Rs.10.00 each	Rs.110.250 millions
3947718	Add: forfeited Equity Shares		Rs.3.948 millions
	Total		Rs. 114.198 millions

NOTE:

Of the above 4214542 Equity shares were allotted as fully paid Share pursuant to the Scheme of Amalgamation without payments being received in cash.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		114.198	114.198	105.671
2] Share Application Money		1.446	1.447	3.748
3] Reserves & Surplus		1193.960	1048.120	919.768
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1309.604	1163.765	1029.187
LOAN FUNDS
1] Secured Loans		1177.953	979.776	887.011
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		1177.953	979.776	887.011
DEFERRED TAX LIABILITIES		101.950	98.252	95.800
TOTAL		2589.507	2241.793	2011.998
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1225.397	1081.343	1035.789
Capital work-in-progress		87.837	115.804	21.777
		30.506	11.777	6.594
INVESTMENT		48.510	48.033	47.733
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1072.372	882.682	699.857
	Sundry Debtors	804.092	677.189	651.997
	Cash & Bank Balances	211.227	173.910	132.740
	Other Current Assets	96.577	83.503	46.033
	Loans & Advances	110.116	82.955	66.115
Total Current Assets		2294.384	1900.239	1596.742
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	824.923	690.657	524.906
	Other Current Liabilities	207.831	181.320	143.412
	Provisions	64.373	43.426	28.319
Total Current Liabilities		1097.127	915.403	696.637
Net Current Assets		1197.257	984.836	900.105
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2589.507	2241.792	2011.998

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	4432.037	3554.690	3423.206
		Other Income	53.091	36.860	23.139
		TOTAL	4485.128	3591.550	3446.345
Less	EXPENSES
		Materials consumed	2833.022	2220.420	2099.433
		Change in stock of Finished Goods and work-in-process	(130.417)	(127.024)	39.218
		Manufacturing, Administrative, selling and Distribution Expenses	1430.302	1204.550	1103.309
		TOTAL	4132.907	3297.946	3241.960
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		352.221	293.604	204.385
Less/ Add	DEPRECIATION/ AMORTISATION		91.699	80.563	71.883
	PROFIT BEFORE TAX		260.522	213.041	132.502
Less	TAX		88.699	76.553	55.609
	PROFIT AFTER TAX		171.823	136.488	76.893
	INCOME TAX RELATING TO EARLIER YEARS		0.004	(0.430)	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		415.201	394.571	361.959
Less	APPROPRIATIONS
		Transfer to General Reserve	100.000	100.000	30.000
		Dividend	16.538	13.230	12.207
		Tax on Dividend	2.683	2.198	2.074
	BALANCE CARRIED TO THE B/S		467.807	415.201	394.571
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	3552.387	2904.939	2858.039
		Other Earnings	0.000	0.000	0.000
	TOTAL EARNINGS		3552.387	2904.939	2858.039
	IMPORTS
		Raw Materials	403.619	299.771	308.744
		Stores & Spares	172.930	125.531	116.246
		Capital Goods	79.190	49.924	60.629
		Finished Goods	0.444	7.765	6.060
	TOTAL IMPORTS		656.183	482.991	491.679
	Earnings Per Share (Rs.)		15.58	13.23	7.87

QUARTERLY RESULTS

PARTICULARS	30.06.2011	30.09.2011	31.12.2011
Type	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	1068.010	1323.990	1079.840
Total Expenditure	956.020	1170.220	951.940
PBIDT (Excl OI)	111.990	153.770	127.900
Other Income	0.650	1.300	2.520
Operating Profit	112.640	155.070	130.420
Interest	26.060	27.610	26.030
Exceptional Items	0.000	(19.050)	0.000
PBDT	86.580	108.410	104.390
Depreciation	23.750	23.750	24.830
Profit Before Tax	62.830	84.660	79.560
Tax	20.530	27.530	28.090
Profit After Tax	42.300	57.140	51.470
Net Profit	42.300	57.140	51.470

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.83	3.84	2.23
Net Profit Margin (PBT/Sales)	(%)	5.88	5.99	3.87
Return on Total Assets (PBT/Total Assets}	(%)	7.40	7.14	5.03
Return on Investment (ROI) (PBT/Networth)		0.20	0.18	0.13
Debt Equity Ratio (Total Liability/Networth)		1.74	1.63	1.54
Current Ratio (Current Asset/Current Liability)		2.09	2.08	2.29

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	No

FINANCIAL PERFORMANCE:

The company has achieved the sales and other Income of Rs.4485.100 Millions against Rs.3582.100 Millions reported last year. The Profit after Tax was Rs.17182.200 Millions during the year under review as compared to Rs. 136.488 Millions reported during the previous year.

MANAGEMENT DISCUSSION AND ANALYSIS

MACROECONOMIC OVERVIEW: -

The fiscal year 2010-11 has been a classic year of economic recovery for India. The economy remained on the path of rapid resurgence which began in 2009-10 and has virtually returned to the high growth path that it had achieved during 2005-08, before the global financial crisis and economic meltdown. India’s growth story this year has been remarkable by any standards. What makes it even more significant is that this is happening on the heels of a year in which growth was a robust 8 percent; so there is no base effect to lay claims on this year’s achievement. The growth prospect over the medium to long term looks excellent. However, as often happens with strong recovery, the economy has come under strain from high inflation. A sequenced and gradual withdrawal of the monetary accommodation is helping contain inflationary pressures. Inflation which remained at elevated levels for a large part of the last fiscal was largely driven by food items, though the goods that were inflating at the start of the fiscal year were different from the goods for which prices are rising now. Notwithstanding the tightening money market and moderate growth in deposits, the financial situation remained orderly with a pickup in credit growth, vibrant equity market and stable foreign exchange market.

Although there has been a declaration in industry and manufacturing, in particular, as indicated by index of industrial production (IIP) data pertaining to November, 2010 is a matter of some concern. However, buoyancy in other indicators of industrial performance and the short run nature of the IIP slowdown suggest that the declaration is more in the nature of road bumps than indication of any long-run problem. A moderation in the current account of balance- of- payments position is likely with declaration in imports and acceleration in exports as per latest monthly merchandise trade data

The medium-to long-run prospect of the economy, including the industrial sector, continues to be positive. On the demand side, a rise in saving and investment and pickup in private consumption have resulted in strong growth of the gross domestic product (GDP) in 2010-11.

The IMF has revised upwards the global growth projections, which are placed now at 4.4 per cent in 2011. The Indian economy is estimated to grow by 8.4 per cent in 2011 following a growth of 9.7 per cent in 2010 (in terms of GDP at constant market prices). The CSO has released the Advance Estimate of GDP for 2010-11 on 7 February 2011.

The Indian economy grew robustly in the current financial year and is on firmer footing. With growth in real GDP at 8.6 per cent in 2010-11, which followed a revised growth of 8.0 per cent in 2009-10 and 6.8 per cent in 2008-09, the economy has moved closer to the pre-crisis levels.

INDUSTRY STRUCTURE AND DEVELOPMENT:-

Growth in the industrial sector as per the IIP was buoyant during the first two quarters of the last financial year. The manufacturing sector, in particular, showed a remarkable robustness, growing at rates of 12.6 per cent and 9.7 per cent respectively during these two quarters.

As per DGCI and S monthly export data, the export of leather and leather products for the year 2010-11 stands at US$3844.6 million against the export of US$3404.57 million during previous period, registering a positive growth of 12.93%.

Export of finished leather, leather footwear, footwear components, leather goods, saddlery and harness and non-leather footwear have shown positive growth whereas export of leather garments had shown a marginal declining trend.

The major markets for Indian leather products are Germany with a share of 14.34%, UK 12.80%, Italy 11.52%, USA 8.72%, Hong Kong 8.11%, France 7.07%, Spain 6.31%, Netherlands 3.98%, Belgium 2.02%, U A E 1.92%, and Australia 1.30%.

Export of leather and leather products to Germany, USA, UK, Italy, France, Hong Kong, Spain, Netherlands, Russia, New Zealand, Canada, South Africa, UAE and Japan have shown positive growth during April-March 2010-11.

Export of leather and leather products to Australia, Greece, Switzerland, Portugal, and Ireland have shown a decline in exports during the above referred period.

OUTLOOK:-

As medium to long-run prospect of Indian Economy, including the Industrial Sector continues to be positive, a rise in saving and demand for consumable products are quite inevitable. The leather industry is basically a consumer product industry hence with the increase in demand of consumer production the prospect of the leather industry is bright. During current year the pace of growth of leather industry is expected to be maintained

FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE:-

The financial statements have been prepared in compliance with the requirements of the companies Act, 1956 and Generally Accepted Accounting Principals in India. The company has achieved the sales and other income of Rs.4485.100 Millions during the year against Rs. 3582.100 Millions reported last year. The profit after tax was Rs. 171.823 Millions during the year as compared to Rs. 136.488 Millions reported during the previous year. The gross block of the company as at 31.03.2011 was Rs 2016.700 Millions against Rs. 1779.400 Millions as at 31.03.2010. The net current assets as at 31.03.2011 were Rs.1197.300 Millions as against Rs. 984.800 Millions as at 31.03.2010.

CONTINGENT LIABILITIES

Particulars	31.03.2011	31.03.2010
	(Rs. In Millions)
Guarantees issued by the Bank	14.199	10.930
Corporate Guarantee(s) to bank(s) against credit facilities extended to wholly owned subsidiaries in U.K. and UAE	78.016	77.006
Letter of Credit opened and outstanding	152.643	170.502
Duty on Export obligation pending	134.833	116.954
Electricity demand pending litigation	1.584	1.584
Forward Exchange Contracts	218.504	66.182
Uncalled Liability on Shares partly paid	4.000	4.000

FIXED ASSETS:

v Land Leasehold

v Land Freehold

v Building

v Factory

v Plant and machinery

v Furniture and Fittings

v Vehicles

v Computer

WEBSITE DETAILS:

OVERVIEW:

Superhouse Group, is a multi- unit and multi- product conglomerate with brand leadership in the field of footwear manufacturing and exports. The Group is well equipped with the most modern machineries and a specialized workforce and produces all types of quality leather, leather goods and textile garments that are appreciated all over the world.

A US $75 million group, Superhouse Group has 15 units, with a workforce of over 5000 and a presence in more than 35 countries. Their commitment to quality is reaffirmed by their ISO 9002 certification. Stringent EN 345-norms make them one of the most respected manufacturers amongst importers from European countries. Being equipped with requisite infrastructure and strict adherence to high standards of quality, they are able meet CSA, ANZ and SABS standards.

A perfect blend of highly technical, skilled and semi-skilled workforce and competent managers has helped them in carving out an enviable position for their selves in the global market.

Nine state-of-the-art units involved in manufacturing footwear and Shoe accessories are ably backed by their marketing offices strategically located in the USA, the UK, the UAE and Romania.

The four modern tanneries provide them with the finest quality leather for their footwear production. To meet the exacting demand of clients they also import leather from Brazil, Italy and Columbia.

The Group has two leather goods manufacturing units including leather garments units.

The Group is also engaged in the manufacturing and export of Readymade Garments and Riding Products.

In addition, they are approved vendors for global brands such as Wal-Mart, Filanto, Auchan, Andre, Shoe Fayre, Hudson Bay, Heckel Securite, Secura and many more.

The existence in the trade for over three decades has given them a wealth of knowledge, which allows them to offer the customers the maximum in choice, value and quality.

PRESS RELEASES

SUPERHOUSE LIMITED A GOVERNMENT OF INDIA RECOGNIZED TRADING HOUSE AGAIN RECEIVED EXPORT AWARD FOR 2009-10

KANPUR, JANUARY 31, 2011

Superhouse Limited has again brought glory to Kanpur by bagging 4 export awards. These awards have been announced by Council for Leather Exports, a body of Ministry of Commerce and Industry, Government of India for the year 2009-2010. The company has been conferred with best leather goods exporter, best leather garments exporter, best non-leather goods exporter and second best exporter in leather goods. These awards were given by Mr. Virbhadra Singh, Minister for Micro, Small and Medium Enterprises on 31 January at Chennai to the group’s Executive Director Mr. Vinay Sanan. The Joint Managing Director Mr. Zafarul Amin, Director Mr. Kashif and Mr. V. Shivkumar were also present. Here it is noteworthy to mention that during the last two decades, the Company has received maximum number of awards year on year in various categories for export performances.

Superhouse group has also been honored by the U.P. government as the best exporter for the year 2007-08 and 2008-09. These awards were conferred keeping in view the export promotion activities in competition with other industries like gems, jewelry, textiles, and handicrafts carpets etc. In the year 2005-06 and 2006-07 the company had received Golden Trophy for the Export Excellence.

Superhouse group has started leather business with a small tannery in 1984-85. Today it has nineteen units located in Kanpur, Unnao, Agra and Noida. These units produce various leather goods like footwear, leather garments, leather bags and textile garments apart from finished leather. These goods are exported to many countries of the world like Europe, South Africa, America and Canada. The company has been honored for its high quality products by many reputed certificates like ISO 2001, 2008, 14001, SA 2000, 2008, OHSAS 18001. The company has also received C.S.E, A.N.S, I.E.N.20345 and A.S. / N.Z.S certificates from various other countries. The company has also established its overseas offices in other countries like Britain, Romania and America for better market penetration and to enhance customers’ satisfactions.

The Superhouse group has also founded Superhouse Education Foundation in 1996 with a long term vision to promote and enhance level of education. Towards fulfilling the above mission, the group has established various Delhi Public Schools in different parts of Uttar Pradesh like Kanpur, Lucknow, Bareilly, and Saharanpur. Now the group has planned to open more schools in other cities also like Agra, Ghaziabad and Lucknow.

The group has established Allenhouse Institute of Technology in the year 2009 to foster engineering education in the private sector. This Institute has made its specific identity in the short period of two years. The Institute is well equipped with modern infrastructure and state-of -the art laboratories and is guided by renowned professors of IITs.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.93
UK Pound	1	Rs.85.85
Euro	1	Rs.69.94

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.