MIRA INFORM REPORT

Report Date :

16.01.2013

IDENTIFICATION DETAILS

Name :	SUPER TANNERY LIMITED
Formerly Known As :	SUPER TANNERY (INDIA) LIMITED
Registered Office :	187/170, Jajmau Road, Kanpur – 208010, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	06.02.1984
Com. Reg. No.:	20-6421
Capital Investment / Paid-up Capital :	Rs.107.973 Millions (31.03.2011)
CIN No.: [Company Identification No.]	L19131UP1984PLC006421
TAN No.: [Tax Deduction & Collection Account No.]	KNPS01360C
PAN No.: [Permanent Account No.]	AAICS1142C
Legal Form :	A Public Limited Liability Company. The Company's Shares are Listed on Stock Exchanges.
Line of Business :	Manufacturing and Marketing of Leather Sole, Leather Chrome, Leather Garments, Leather Shoe Uppers, Leather Full Shoe, Unit Sole, Leather Cut Sole and other Leather Goods.
No. of Employees :	Not Available

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 2300000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and conditions.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BBB- (Long Term Rating)
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligations. It carry moderate credit risk.
Date	February 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office/ Factory :	187/170, Jajmau Road, Kanpur – 208010, Uttar Pradesh, India
Tel. No.:	91-512-3935747, 3935748, 3935749
Fax No.:	91-512-2460792
E-Mail :	supertannery@satyam.net.in share@supertannery.com supertannery@lw1.sancharnet.in supertannery@satyam.net.in - Tannery Division leatherinfo@supertannery.com - Tannery Division supertan@satyam.net.in - Footwear Division sales@supertannery.com - Sales Department
Website :	http://www.supertannery.com http://www.supertannery.org
Factory :	Tannery Unit 2 545, Mona Nagar, Jajmau, Kanpur -208010, Uttar Pradesh, India Footwear Unit 1 169, Jajmau, Kanpur -208010, Uttar Pradesh, India Footwear Unit 2 Plot No.1361, 1363 and 1415, Sheshpur Nari, Banther, Unnao, Uttar Pradesh, India Footwear Unit 3 6, Akrampur, Unnao, Uttar Pradesh, India

DIRECTORS

As on: 30.09.2010

Name :

Mr. Iftikharul Amin

Designation :

Managing Director

Address :

D-403, Defence Colony, Jajmau, Kanpur - 208 010, Uttar Pradesh, India

Date of Birth:

26.06.1958

Date of Appointment :

06.02.1984

DIN No.:

00037424

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L19131UP1984PLC006421	SUPER TANNERY LIMITED	Managing director	30/09/2010	06/02/1984	-	Active	NO
2	U19201UP1992PLC014349	SUPER SHOES LIMITED	Director	12/05/1992	12/05/1992	01/02/2007	Active	NO
3	U19112UP1996PLC019255	AARIFI TANNERS LIMITED	Director	01/01/1996	01/01/1996	-	Active	NO
4	U90009UP2002NPL026495	BANTHAR INDUSTRIAL POLLUTION CONTROL COMPANY	Managing director	20/02/2002	20/02/2002	14/05/2007	Active	NO
5	U45208UP2005NPL029731	INDUSTRIAL INFRASTRUCTURE SERVICES (INDIA)	Whole-time director	02/03/2011	30/03/2005	-	Active	NO
6	U45201UP2006PLC031511	AMIN COLONIZERS AND DEVELOPERS LIMITED	Director	17/03/2006	17/03/2006	-	Active	NO
7	U90001UP2012NPL050422	Jajmau Tanneries Environmental Protection Association	Director	10/05/2012	10/05/2012	-	Active	NO
8	U93030UP2012PLC052414	LEATHER CLUSTER DEVELOPMENT LIMITED	Director	07/09/2012	07/09/2012	-	Active	NO

Name :

Mr. Iqbal Ahsan

Designation :

Managing Director

Address :

808, El Dorado Apartments 7/88, T1lak Nagar, Kanpur - 208 002, Uttar Pradesh, India

Date of Birth :

03.05.1960

Date of Appointment :

30.09.2010

DIN No.:

00037445

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L19131UP1984PLC006421	SUPER TANNERY LIMITED	Managing director	30/09/2010	21/11/1988	-	Active	NO
2	U19201UP1992PLC014349	SUPER SHOES LIMITED	Director	12/05/1992	12/05/1992	01/02/2007	Active	NO
3	U19112UP1996PLC019255	AARIFI TANNERS LIMITED	Director	01/02/2007	01/02/2007	-	Active	NO

Name :

Mr. Veqarul Amin

Designation :

Managing Director

Address :

15/288-C, Civil Unes, Kanpur - 208 001 , Uttar Pradesh, India

Date of Birth :

02.01.1963

Date of Appointment :

30.09.2010

DIN No.:

00037469

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L19131UP1984PLC006421	SUPER TANNERY LIMITED	Managing director	30/09/2010	01/01/1990	-	Active	NO
2	U19201UP1992PLC014349	SUPER SHOES LIMITED	Director	12/05/1992	12/05/1992	-	Active	NO
3	U19112UP1996PLC019255	AARIFI TANNERS LIMITED	Director	01/01/1996	01/01/1996	01/02/2007	Active	NO
4	U45201UP2006PLC031511	AMIN COLONIZERS AND DEVELOPERS LIMITED	Director	17/03/2006	17/03/2006	-	Active	NO
5	U90009UP2002NPL026495	BANTHAR INDUSTRIAL POLLUTION CONTROL COMPANY	Managing director	13/05/2010	14/05/2007	-	Active	NO

Name :

Mr. Nafees Ahmad

Designation :

Director

Address :

88/101, Prem Nagar, Kanpur - 208 001, Uttar Pradesh , India

Date of Birth :

30.01.1970

Date of Appointment :

25.03.2002

DIN No.:

00037531

Name :

Mr. Imran Siddiqui

Designation :

Whole-time Director

Address :

Dargah Shareef Road, Infront Of Hindustan Tannery Compound, Jajmau, Kanpur - 208 010, Uttar Pradesh, India

Date of Birth :

10.05.1958

Date of Appointment :

28.09.2012

DIN No.:

00037552

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L19131UP1984PLC006421	SUPER TANNERY LIMITED	Whole-time director	28/09/2012	30/09/1992	-	Active	NO
2	U91990UP1938NPL000852	EMPLOYER'S ASSOCIATION OF NORTHERN INDIA	Nominee director	28/09/1996	28/09/1996	-	Active	NO
3	U19201UP2007PLC032929	SUPER SAFETYWEARS LIMITED	Director	28/02/2007	28/02/2007	-	Active	NO
4	U90001UP2012NPL050422	Jajmau Tanneries Environmental Protection Association	Director	10/05/2012	10/05/2012	-	Active	NO

Name :

Mr. Mohd. Imran

Designation :

Whole-time Director

Address :

40/44, Naya Chowk, Parade, Kanpur - 208001, Uttar Pradesh, India

Date of Birth :

22.01.0967

Date of Appointment :

30.09.2010

DIN No.:

00037627

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L19131UP1984PLC006421	SUPER TANNERY LIMITED	Whole-time director	30/09/2010	28/09/2000	-	Active	NO
2	U19201UP2007PLC032929	SUPER SAFETYWEARS LIMITED	Director	28/02/2007	28/02/2007	-	Active	NO

Name :

Mr. Arshad Khan

Designation :

Whole-time Director

Address :

Q/F7/3, Padam Apartments, 16716, Civil Lines, Kanpur - 208 001, Uttar Pradesh, India

Date of Birth :

05.07.1964

Date of Appointment :

30.09.2010

DIN No.:

00037655

Name :

Dr. Subhash Awasthi

Designation :

Director

Address :

116/82-B, Adarsh Nagar, Rawatpur, Kanpur, Uttar Pradesh, India

Date of Birth :

07.05.1965

Date of Appointment :

30.03.2005

DIN No.:

00045852

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L19131UP1984PLC006421	SUPER TANNERY LIMITED	Director	30/03/2005	30/03/2005	-	Active	NO
2	U45208UP2005NPL029731	INDUSTRIAL INFRASTRUCTURE SERVICES (INDIA)	Whole-time director	03/03/2011	31/03/2005	-	Active	NO
3	U45208UP2008PTC034814	PRO INDUSTRIAL INFRASTRUCTURE & ENVIRONMENT MANAGEMENT PRIVATE LIMITED	Director	13/03/2008	13/03/2008	23/05/2008	Strike off	NO

Name :

Mr. Pradeep Kumar Sinha

Designation :

Director

Address :

15/212-B, Cfvil Lines, Kanpur - 208 001, Uttar Pradesh, India

Date of Birth :

07.10.1958

Date of Appointment :

30.09.2008

DIN No.:

00559972

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74210UP1997PTC021803	DEEP MANAGEMENT AND ECO CONSULTANTS PRIVATE LIMITED	Director	22/04/1997	22/04/1997	-	Active	NO
2	L19131UP1984PLC006421	SUPER TANNERY LIMITED	Director	30/09/2008	14/01/2008	-	Active	NO

Name :

Mr. Mohsin Sharif

Designation :

Director

Address :

7/94, Tilak Nagar, Kanpur - 208 002, Uttar Pradesh, India

Date of Birth :

15.06.1962

Date of Appointment :

31.07.2000

DIN No.:

00797732

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L19131UP1984PLC006421	SUPER TANNERY LIMITED	Director	31/07/2000	31/07/2000	31/07/2000	Active	NO
2	U45201UP2006PLC031511	AMIN COLONIZERS AND DEVELOPERS LIMITED	Director	17/03/2006	17/03/2006	-	Active	NO

Name :

Mr. Kumud Behari Seth

Designation :

Director

Address :

106, El Dorado Apartments, 7/88, Tilak Nagar Kanpur - 208 002,Uttar Pradesh, India

Date of Birth:

13.03.1945

Date of Appointment :

25.03.2002

DIN No.:

00982480

Name :

Mr. Mod. Izhar

Designation :

Director

Address :

40/175, Makhania Bazaar, Meston Road, Kanpur - 208 001, Uttar Pradesh, India

Date of Birth:

05.02.1957

Name :

Mr. Rajendra Kumar Awasthi

Designation :

Director

Address :

Backside Of Jagendre Swaroop Public School, Priya Darshini Nagar, Unnao - 209 801, Uttar Pradesh, India

Date of Birth :

01.06.1965

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2012

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	63461434	58.78
Sub Total	63461434	58.78
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	63461434	58.78
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	4149000	3.84
Financial Institutions / Banks	3000	0.00
Sub Total	4152000	3.85
(2) Non-Institutions
Bodies Corporate	5406558	5.01
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Millions	24618541	22.80
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Millions	9772497	9.05
Any Others (Specify)	562330	0.52
Clearing Members	3350	0.00
Non Resident Indians	558870	0.52
Any Other	110	0.00
Sub Total	40359926	37.38
Total Public shareholding (B)	44511926	41.22
Total (A)+(B)	107973360	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	107973360	0.00
(A) Shareholding of Promoter and Promoter Group
(1) Indian

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Mutual Funds	3.84
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	0.59
Bodies corporate	5.16
Directors or relatives of Directors	58.77
Other top fifty shareholders	8.59
Other	23.05
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Marketing of Leather Sole, Leather Chrome, Leather Garments, Leather Shoe Uppers, Leather Full Shoe, Unit Sole, Leather Cut Sole and other Leather Goods.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank Of India, Main Branch, The Mall, Kanpur, Uttar Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Rupee term loans secured	755.800	0.000
Working capital loans banks secured		800.577
Loans taken for fixed assets secured		0.000
Total	755.800	800.577

Financial Institution :	· Mona Tanning Industries Private Limited, 2-B Wajidpurjajmau, Kanpur, Uttar Pradesh - 208010, India · Aarifi Tanners Limited, 187/170 Jajmau Roadkanpur-2, Kanpur-2, Uttar Pradesh - 208010, India
Banking Relations :	--
Auditors :
Name :	Kapoor Tandon and Company Chartered Accountants
Address :	24/57, Ist Floor, Birhana Road, Opposite Central Chest Clinic, Kanpur – 208001, India
PAN.:	ACSPP4706A
Subsidiaries :	· Super Safetywears Limited CIN No. U19201UP2007PLC032929 · Aarifi Tanners Limited CIN No. U19112UP1996PLC019255 · Super Tannery Uk Limited · Safety Solutions S. R. O.

CAPITAL STRUCTURE

As on: 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
110000000	Equity Shares	Rs.1/- each	Rs.110.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
107973360	Equity Shares	Rs.1/- each	Rs.107.973 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		108.000	107.973	107.973
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		483.100	432.175	377.191
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		591.100	540.148	485.164
LOAN FUNDS
1] Secured Loans		755.800	800.577	700.066
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		755.800	800.577	700.066
DEFERRED TAX LIABILITIES		0.000	57.208	57.019
TOTAL		1346.900	1397.933	1242.249
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		574.100	553.674	528.018
Capital work-in-progress		22.600	31.193	22.351
INVESTMENT		33.600	33.510	35.984
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	566.600	680.577	654.335
	Sundry Debtors	471.100	449.466	380.844
	Cash & Bank Balances	23.700	58.981	43.292
	Other Current Assets	0.200	109.159	63.069
	Loans & Advances	160.800	77.567	65.929
Total Current Assets		1222.400	1375.750	1207.469
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	478.700	436.428	421.900
	Other Current Liabilities		120.668	104.521
	Provisions	27.100	39.098	25.152
Total Current Liabilities		505.800	596.194	551.573
Net Current Assets		716.600	779.556	655.896
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1346.900	1397.933	1242.249

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	2514.000	2627.966	1789.074
		Other Income	3.700	2.663	11.838
		Increase/(Decrease) in stocks	(65.200)	0.000	0.000
		TOTAL (A)	2452.500	2630.629	1800.912
Less	EXPENSES
		Consumption materials changes inventories	22300.500	1779.092	1215.459
		Manufacturing service costs		-21.702	-6.544
		Employee related expenses		49.304	39.736
		Administrative selling other expenses		248.990	193.868
		TOTAL (B)	22300.500	2055.684	1442.519
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		219.000	574.945	358.383
Less	FINANCIAL EXPENSES (D)		93.700	108.724	102.616
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		125.300	466.221	255.777
Less/ Add	DEPRECIATION/ AMORTISATION (F)		35.400	33.622	32.669
	PROFIT BEFORE TAX (E-F) (G)		89.900	432.599	223.108
Less	TAX (H)		32.500	18.262	15.435
	PROFIT AFTER TAX (G-H) (I)		57.400	414.337	207.673
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.277)	4.462	1.277
	INCOME TAX RELATING TO EARLIER YEARS		NA	(357.802)	(163.193)
Less	APPROPRIATIONS
		Proposed Dividend	NA	61.274	5.399
		Provision for Tax on Proposed Dividend			0.897
		Transfer to General Reserve	NA	61.274	35.000
	BALANCE CARRIED TO THE B/S		NA	(0.277)	4.462
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	NA	1669.908	1125.408
	TOTAL EARNINGS		NA	1669.908	1125.408
	Earnings Per Share (Rs.)		0.53	0.55	0.42

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.34	15.75	11.53
Net Profit Margin (PBT/Sales)	(%)	3.67	16.44	12.39
Return on Total Assets (PBT/Total Assets}	(%)	5.00	22.42	12.86
Return on Investment (ROI) (PBT/Networth)		0.15	0.80	0.46
Debt Equity Ratio (Total Liability/Networth)		2.13	2.59	2.58
Current Ratio (Current Asset/Current Liability)		2.42	2.31	2.19

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

Bankers Charges Report as per Registry

Corporate identity number of the company	L19131UP1984PLC006421
Name of the company	SUPER TANNERY LIMITED
Address of the registered office or of the principal place of business in India of the company	187/170, Jajmau Road, Kanpur – 208010, Uttar Pradesh, India supertannery@satyam.net.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90278148
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	State Bank Of India Overseas Branch, Civil Lines, 15/54-B Virendra Smriti Complex, Kanpur – 208001, Uttar Pradesh, India share@supertannery.com
Nature of instrument creating charge	Arrangement Letter Cum Sanction Of Credit Facilities
Date of instrument Creating the charge	29.03.2012
Amount secured by the charge	Rs. 1015.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC 3.75% Above Base Rate i.e. 13.75%, EPC/FBP 1.50% Above Base Rate i.e. 11.50% P.A. With Monthly Rests Corporate Loan 4.25% Above Base Rate i.e. 14.25% Terms of Repayment Working Capital On Demand, Corporate Loan As Per Existing Repayment Schedule Margin RM: Domestic and Imported 25% SIP 25% Stores And Spares 50% FG 25% Goods At Ports/Transit 100% Advance Against Export Bills Sent On Collection (5% Sight Bill And Usance Bills Upto 90 Days 10% Usance Bills Beyond 90 DAYS) LC 10% BG 25% Domestic Recievables 40% one Time LC 20% Extent and Operation of the charge As Per Agreement
Short particulars of the property or asset(s) charged (including complete address and location of the property)	· Hypothecation of entire current assets of the company consisting of raw materials, stock in process, finished goods stores and spare, book debts and all other current assets. · Export documents evidencing the title to goods. Counter guarantee of the company. Goods purchased/imported under LCs · Extension of charge on entire fixed assets of the company (both present and future) the above security includes EM of the factory, land and building at : A. Plot no 187/170. 187/169, part of plot no 25D · (Area 28273.35 Sq. mt.) Wajidpur, jajmau, Kanpur owned by the company B. Leasehold plot nos a-46 and 47 (area 10719 sq mt) banthar industrial estate, unnao owned by the company. Arazi no 1363,1364, · 1365, 1413,1414,1415,1416 and 1417 measuring14150 Hectare Situated adjacent to Plot Nos A-46, And A-47, Banthar Industrial Estate, Unnao Registered in the name of Mr. Veqarul amin. · EM of land and building at Bhoomidhari no 666,667,668,669 and 670 Area 2 Bigha 19 Bishwa 10 Bishwansi (10140 Sq Mtr) Located at Vill Akarampur, Unnao In The Name Of M/S Aarifi Tanners Private Limited · 1st charge over entire Fixed Assets (both present and future)
Date of instrument modifying the charge	19.01.2011
Particulars of the present modification	Overall limit has been reduced to 1015.500 Millions

Unaudited Financial Result for the quarter ended 30th September 2012

(Rs. In Millions)

S.No.	Particulars	3 months ended	Preceding 3 months ended	Corresponding 3 months ended in previous year	Year to date figures for current period ended	Year to date figures for the previous year ended	Previous accounting year ended
		30.09.2012	30.06.2012	30.09.2011	30.09.2012	30.09.2011	31.03.2012
		Unaudited					Audited
1	Income from Operations
a.	Net Sales / income from Operations (Net off Excise Duty)	711.946	606.151	625.966	1318.097	1351.104	2514.026
b.	Other Operating Income	-	-	-	-	-	-
	Total Income from operations (net)	711.946	606.151	625.966	1318.097	1351.104	2514.026
2	EXPENSES
a.	Cost of materials consumed	485.229	356.394	424.791	841.623	916.990	1574.947
b.	Purchase of Traded Goods	46.235	22.396	44.670	68.631	126.459	287.170
c.	Change in inventory of finished goods, work in progress and stock-in-trade	10.111	91.534	16.716	101.645	7.962	65.248
d.	Employee benefit expenses	36.409	29.903	34.920	66.312	71.954	126.188
e.	Depreciation and amortisation expenses	10.186	8.956	9.451	19.142	17.956	35.447
f.	Other Expenditure	85.037	60.475	62.361	145.512	142.401	247.722
	Total Expenses	673.207	569.658	592.909	1242.865	1283.722	2336.722
3	Profit/ (Loss) from Operations before other income, finance costs and exceptional items (1-2)	38.739	36.493	33.057	75.232	67.382	177.304
4	Other Income	1.288	0.679	1.545	1.967	2.555	3.727
5	Profit/ (Loss) from ordinary activities before finance cost and exceptional items (3 + 4)	40.027	37.172	34.602	77.199	69.937	181.031
6	Finance costs(Interest)	22.483	21.579	20.967	44.062	40.282	87.749
7	Profit/ (Loss) from ordinary activities after finance cost but before exceptional items (5 - 6)	17.544	15.593	13.635	33.137	29.655	93.282
8	Exceptional Items	-	-	-	-	-	-
9	Profit/ (Loss) from Ordinary activities before Tax (7- 8)	17.544	15.593	13.635	33.137	29.655	93.282
10	Tax expenses	6.000	3.600	3.500	9.600	7.000	24.200
11	Net Profit/(Loss) from Ordinary Activities after Tax (9- 10)	11.544	11.993	10.135	23.537	22.655	69.082
12	Extraordinary Item (net of tax expense )	-	-	-	-	-	-
13	Net Profit/ (Loss) for the period (11- 12)	11.544	11.993	10.135	23.537	22.655	69.082
14	Paid-up Equity Share Capital (Face Value : Re 1/- each)	1,07.973	1,07.973	1,079.73	1,079.73	1,079.73	1,079.73
15	Reserves (excluding Revaluation Reserves as per Balance sheet of previous accounting year)						463.174
16	Earning per Share - Basic & Diluted (of Re. 1/-each) (Annualised)	0.43	0.44	0.38	0.44	0.42	0.64
A.	PARTICULARS OF SHAREHOLDING
1	Public Shareholding
	-- No. of Shares	44514926	44514926	44514926	44514926	44514926	44514926
	-- Percentage of Shareholding	41.23%	41.23%	41.23%	41.23%	41.23%	41.23%
2	Promoters and Promoter Group shareholding
	a) Pledged / Encumbered
	--No. of Shares	NIL	NIL	NIL	NIL	NIL	NIL
	-- Percentage of Shares (as a % of the total shareholding of promoter & promoter group)	N.A	N.A	N.A	N.A	N.A	N.A
	-- Percentage of Shares (as a % of the total share capital of the company)	N.A	N.A	N.A	N.A	N.A	N.A
	b) Non-encumbered
	-- No. of Shares	63458434	63458434	63458434	63458434	63458434	63458434
	-- Percentage of Shares (as a % of the total shareholding of promoter & promoter group)	100%	100%	100%	100%	100%	100%
	-- Percentage of Shares (as a % of the total share capital of the company)	58.77%	58.77%	58.77%	58.77%	58.77%	58.77%
B.	INVESTOR COMPLAINTS						Quarter ended 30-09-2012
	Pending at the beginning of the quarter						Nil
	Received during the quarter						13
	Disposed of during the quarter						13
	Remaining unresolved at the end of the quarter						Nil

NOTES: 

1. The above results are on standalone basis.

2. The Company is engaged in only one business segment i.e. Leather and Leather Products Business.

3. Previous periods figures have been regrouped and recasted wherever necessary.

4. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 12th Nov, 2012.

FIXED ASSETS:

• Land – Freehold
• Land – Leasehold
• Building
• Plant and Machinery
• Furniture and Fixtures
• Vehicles

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 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 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 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.54.54
UK Pound	1	Rs.87.69
Euro	1	Rs.72.85

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	YES
--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		45

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.