MIRA INFORM REPORT

Report No. :	330904
Report Date :	09.07.2015

IDENTIFICATION DETAILS

Name :	THE SUPREME INDUSTRIES LIMITED
Formerly Known As :	SUPREME INDUSTRIES LIMITED
Registered Office :	612, Raheja Chambers, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	30.06.2014
Date of Incorporation :	17.02.1942
Com. Reg. No.:	11-003554
Capital Investment / Paid-up Capital :	Rs.254.054 Million
CIN No.: [Company Identification No.]	L35920MH1942PLC003554
TAN No.: [Tax Deduction & Collection Account No.]	MUMT01228D
PAN No.: [Permanent Account No.]	AAACT1344F
Legal Form :	Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Subject is engaged mainly in production of plastic products.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

A (60)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 28000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having a fine track record. The company operate in segments such as plastic piping systems, packaging products, industrial components, material handling system, cross-laminated polyethylene films and products and furniture. The rating reflects company’s healthy operational risk profile over the years, supported by its diversified revenue profile, addition of new products in product portfolio and strong market position across segments and its key financial metrics reported healthy. These rating strengths are partially offset by the company’s exposure to risks relating to volatile raw material prices and intense competition. However, trade relation are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. In view of strong financials backed by healthy operations, the company can be considered good 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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating: AA
Rating Explanation	High degree of safety and very low credit risk.
Date	March, 2015

Rating Agency Name	CRISIL
Rating	Short Term Rating: A1+
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	March, 2015

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 31-03-2014.

INFORMATION DECLINED

Management non co-operative (91-22-40430000/22851656)

LOCATIONS

Registered Office :	612, Raheja Chambers, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22851656/ 22820072/ 22851159-60
Fax No.:	91-22-22851657
E-Mail :	supremenpt@supreme.co.in investor@supreme.co.in info@supreme.co.in
Website :	www.supreme.co.in
Corporate Office :	1161 and 1162, Solitaire Corporate Park, 167, Guru Hargovindji Marg, Andheri Ghatkopar Link Road, Andheri (East), Mumbai – 400 093, Maharashtra, India
Tel. No.:	91-22-40430000/ 67710000/ 30840000
Fax No.:	91-22-40430099/ 67710099
E-Mail :	supreme@supreme.co.in
Protective Packaging - PROTEC and INSU and DURA – East Zone Division:	601, Central Plaza, 2/6, Sarat Bose Road,  Kolkata – 700 020, West Bengal, India
Tel. No.:	91-33-24858837/ 24858839/ 24858833
E-Mail :	PROTEC: dura@supreme.co.in ajaymohta_ppd@supreme.co.in INSU: insulation@supreme.co.in ajaymohta_ppd@supreme.co.in DURA: dura@supreme.co.in ajaymohta_ppd@supreme.co.in
Factory :	Located at: At and Post Kanhe, Taluka Maval, Dist Pune 412106, Maharashtra, India · Derabassi (Punjab) · Durgapur (West Bengal) · Gadegaon (Maharashtra) · Guwahati (Assam) · Halol - Unit I (Gujarat) · Halol - Unit II (Gujarat) · Halol - Unit III (Gujarat) · Halol - Unit IV (Gujarat) · Hosur Unit I (Tamilnadu) · Hosur Unit II (Tamilnadu) · Jalgaon - Unit I (Maharashtra) · Jalgaon - Unit II (Maharashtra) · Kanhe (Maharashtra) · Kanpur (Uttar Pradesh) · Khopoli (Maharashtra) · Khushkheda (Rajasthan) · Malanpur - Unit I (Madhya Pradesh) · Malanpur - Unit II (Madhya Pradesh) · Noida (Uttar Pradesh) · Puducherry (Union Territory) · Silvassa (Union Territory) · Sriperumbudur (Tamilnadu) · Urse (Maharashtra)
Branch Office :	Located at: At Post Tathwade, Survey No 69, Tathawade, Opposite Pawar Flour Mills Tathawade Pune- 411033, Maharashtra, India · Ahmedabad · Bangalore · Chennai · Cochin · Hyderabad · Indore · Kanpur · Kolkata · Mumbai · New Delhi

DIRECTORS

AS ON 17.09.2014

Name :	Mr. B.L. Taparia
Designation :	Chairman
Date of Birth/Age :	25.11.1934
Qualification :	B.Com
Date of Appointment :	15.06.1977
Name :	Mr. M.P. Taparia
Designation :	Managing Director
Date of Birth/Age :	22.10.1937
Qualification :	B.A.
Expertise in specific functional area :	Industrialist having rich Business experience
Date of Appointment :	02.08.1966
Chairman / Director of other companies :	· Supreme Petrochem Limited · Supreme Capital Management Limited · The West Coast Papers Mills Limited · Kabra Extrusion Technik Limited · Jovial Investment and Trading Co. Private Limited · Polysterene Producers Association (India)
Name :	Mr. S.J. Taparia
Designation :	Executive Director
Date of Birth/Age :	07.08.1945
Qualification :	B.E.
Expertise in specific functional area :	Industrialist having rich Business experience
Date of Appointment :	15.06.1977
Chairman / Director of other companies :	· Supreme Petrochem Limited · Supreme Capital Management Limited · Oricon Enterprises Limited · Boon Investment & Trading Co. Private Limited · Bharat Business Channel Limited
Name :	Mr. V.K. Taparia,
Designation :	Executive Director
Date of Birth/Age :	26.10.1955
Qualification :	B. Com.
Expertise in specific functional area :	Industrialist having rich Business experience
Date of Appointment :	29.10.1984
Chairman / Director of other companies :	· Venktesh Investment & Trading Co. Private Limited · World Presidents’ Organization
Name :	Mr. B.V. Bhargava
Designation :	Director
Date of Birth/Age :	16.04.1936
Qualification :	M. Com., L.L.B
Expertise in specific functional area :	Overall guidance in forming Business Policies
Date of Appointment :	25.09.1996
Name :	Mr. H.S. Parikh
Designation :	Director
Date of Birth/Age :	16.03.1927
Qualification :	Chartered Accountant
Expertise in specific functional area :	Practicing Chartered Accountant
Date of Appointment :	29.06.1982
Chairman / Director of other companies :	· Elecon Engineering Co. Limited · Simplex Castings Limited · Eimco Elecon (I) Limited
Name :	Mr. N.N. Khandwala
Designation :	Director
Name :	Mr. S.R. Taparia
Designation :	Director
Date of Birth/Age :	24.10.1928
Qualification :	B.A. (Hons.), L.L.B.
Expertise in specific functional area :	Overall guidance in forming Business Policies and Corporate Social Responsibility Work
Date of Appointment :	10.09.1966
Name :	Mr. Y.P. Trivedi
Designation :	Director
Date of Birth/Age :	06.01.1929
Qualification :	B Com L. L. B.
Expertise in specific functional area :	Legal and Tax Expert
Date of Appointment :	30.08.2003
Chairman / Director of other companies :	· Reliance Industries Limited · Zodiac Clothing Co. Limited · Seksaria Biswan Sugar Factory Limited · Emami Limited · New Consolidated Construction Limited · Sai Services Station Limited · Trivedi Consultants Private Limited
Name :	Smt. Rashna Khan
Designation :	Director
Date of Birth/Age :	03.09.1963
Qualification :	B.A. L.L.B, Solicitor, Mumbai and Solicitor, England & Wales
Expertise in specific functional area :	Legal
Date of Appointment :	21.07.2014

KEY EXECUTIVES

Name :	O.P. Roongta
Designation :	Senior Vice-President (Finance) and Secretary
Name :	Mr. P.V. Prabhu
Designation :	Finance Manager
Name :	Mr. Manish Lakhani
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.12.2014

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	3235590	2.55
Bodies Corporate	59897155	47.15
Any Others (Specify)	17260	0.01
Trusts	17260	0.01
Sub Total	63150005	49.71
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	63150005	49.71
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	8082904	6.36
Financial Institutions / Banks	123949	0.10
Foreign Institutional Investors	27317536	21.51
Any Others (Specify)	500	0.00
Foreign Financial Institutions / Banks	500	0.00
Sub Total	35524889	27.97
(2) Non-Institutions
Bodies Corporate	5390208	4.24
Individuals
Individual shareholders holding nominal share capital up to Rs. 1 lakh	17779246	14.00
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh	4496902	3.54
Any Others (Specify)	685620	0.54
Clearing Members	30317	0.02
Non Resident Indians	542613	0.43
Overseas Corporate Bodies	101591	0.08
Trusts	11099	0.01
Sub Total	28351976	22.32
Total Public shareholding (B)	63876865	50.29
Total (A)+(B)	127026870	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)	127026870	0.00

Bottom of Form

BUSINESS DETAILS

Line of Business :

Subject is engaged mainly in production of plastic products.

Products :

Product Description	Item Code No:
PVC Pipes and Fittings	39172309 39174000
Material Handling Creates	39239000
Plastic Moulded Chairs	94018000
Cross Laminated Film	39269009

· Moulded Furniture

· Material Handling Products

· Petrochemicals

· XF Films and Products (SILPAULIN)

· Performance Films

· Industrial Moulded Products

· Protective Packaging Products

· Plastic Piping System

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

• Central Bank of India, Fort, Mumbai – 400 023, Maharashtra, India
• Axis Bank Limited
• BNP Paribas
• ICICI Bank Limited
• IDBI Bank Limited
• State Bank of India
• Standard Chartered Bank
• Vijaya Bank
• Bank of Baroda

Facilities :

Secured Loans	30.06.2014 (Rs. in Million)	30.06.2013 (Rs. in Million)
LONG TERM BORROWINGS
From Banks
- Rupee Loans from Banks	1876.500	800.000
- Foreign Currency Loans	749.177	1354.060
From Others (Rupee Loans)	0.000	125.000
SHORT TERM BORROWING
Working Capital Loans:
From Banks (Cash Credit Accounts)	(27.362)	225.152
Foreign currency Loans - Buyer's Credit	220.869	132.622
Total	2819.184	2636.834

Notes:

LONG TERM BORROWINGS

Term Loans from banks and financial institutions are secured on first pari passu charge basis as under:

a) Immovable properties of the company, situated at certain locations of the company.

b) Movable properties of the company viz. plant, machineries and moulds, both present and future, situated at all the locations of the company

c) In respect of external commercial borrowings of i) USD 20 million from HSBC Bank (Mauritius) Ltd. ii) USD 2 million from Standard Chartered bank U.K. and iii) USD 4 million from State Bank of India, Dubai, outstanding as on 30th June2014, the company has entered into derivative contracts to hedge each of the said loans for hedging i) currency risk on principal as well as interest and ii) interest rate fluctuation. This has the effect of freezing the rupee equivalent of the entire liability, as reflected under the head of borrowings. Thus there is no impact in the profit and Loss arising out of exchange or interest rate fluctuations for the duration of the loan. Consequently there is no restatement of the loans taken in foreign currency. The interest payable in Indian rupees on the derivative contracts is duly accounted for in the statement of Profit & Loss.

SHORT TERM BORROWINGS

Working Capital Loans from Banks mentioned as above are secured against:

First pari passu charge by way of hypothecation of stocks and Book Debts, both present and future

Second / subservient charge on all movable properties of the company viz. plant, machineries and moulds, both present and future, situated at all the locations of the company.

Second / subservient charge on all immovable properties of the company, situated at certain locations of the company.

Financial Institution :	GE Money Financial Services Private Limited, 401-402, 4^th Floor, Aggarwal Millennium Tower, E 123, Netaji Subhash Place, Pitampura, Delhi – 110 034, India
Auditors :
Name :	Chhogmal and Company Chartered Accountants
Address :	Mumbai, Maharashtra, India
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary Company :	The Supreme Industries Overseas FZE
Associates :	Supreme Petrochem Limited Supreme Capital Management Limited Platinum Plastics and Industries Private Limited Suraj Packaging Private Limited Venkatesh Investment and Trading Company Private Limited Jovial Investment and Trading Company Private Limited Boon Investment and Trading Company Private Limited

CAPITAL STRUCTURE

AS ON 17.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
150000000	Equity Shares	Rs.2/- each	Rs.300.000 Million
11200000	Preference Shares	Rs.10/- each	Rs.112.000 Million
33800000	Unclassified Shares	Rs.10/- each	Rs.338.000 Million
	Total		Rs.750.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
127026870	Equity Shares	Rs.2/- each	Rs.254.054 Million

The company bought back and extinguished 2211300 numbers of Equity Shares of Rs.10 each during the year 2008-09

The details of Shareholders holding more than 5% shares:

Name of the Shareholders	As at 30.06.2014
	No. of Equity Shares	% of Holding
Boon Investment and Trading Company Private Limited	20206592	15.91%
Jovial Investment and Trading Company Private Limited	19912082	15.68%
Venkatesh Investment and Trading Company Private Limited	19693081	15.50%
Nalanda India Fund Limited	8176502	6.44%

*Shares held less than 5% as on 30^th June, 2014

The reconciliation of the number of equity shares outstanding is set out below:

	As at 30.06.2014
	Numbers	Amount (Rs. in Million)
Equity Shares at the beginning of the year	127026870	254.054
Equity Shares at the end of the year	127026870	254.054

Terms/rights attached to Equity shares:

The company has only one class of issued Equity Shares having a par value of Rs.2 per share. Each Shareholder is eligible for one vote per share held.

The Dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of Interim Dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	30.06.2014	30.06.2013	30.06.2012
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	254.054	254.054	254.054
(b) Reserves & Surplus	9395.260	7770.962	6160.559
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	9649.314	8025.016	6414.613
(3) Non-Current Liabilities
(a) Long-term borrowings	2646.458	2317.628	1048.760
(b) Deferred tax liabilities (Net)	1167.513	906.518	832.583
(c) Other long term liabilities	27.975	30.462	13.243
(d) Long-term provisions	83.469	99.477	108.930
Total Non-current Liabilities (3)	3925.415	3354.085	2003.516
(4) Current Liabilities
(a) Short term borrowings	1199.226	1771.093	1488.464
(b) Trade payables	2778.955	3487.544	2171.284
(c) Other current liabilities	2434.844	1869.979	1888.610
(d) Short-term provisions	1038.716	1049.610	799.679
Total Current Liabilities (4)	7451.741	8178.226	6348.037
TOTAL	21026.470	19557.327	14766.166
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10820.038	10199.842	7388.158
(ii) Intangible Assets	58.992	77.566	5.638
(iii) Capital work-in-progress	180.794	330.456	338.096
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	336.412	336.412	336.412
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	682.277	475.176	614.701
(e) Other Non-current assets	2.129	1.921	2.182
Total Non-Current Assets	12080.642	11421.373	8685.187
(2) Current assets
(a) Current investments	4976.470	4668.037	0.000
(b) Inventories	2349.797	2039.185	3140.128
(c) Trade receivables	242.175	227.553	1716.794
(d) Cash and cash equivalents	1361.406	1184.061	138.650
(e) Short-term loans and advances	15.980	17.118	1057.257
(f) Other current assets	0.000	0.000	28.150
Total Current Assets	8945.828	8135.954	6080.979
TOTAL	21026.470	19557.327	14766.166

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.06.2014	30.06.2013	30.06.2012
	SALES
		Revenue from operations	39619.023	34030.743	29275.550
		Other Income	104.413	38.918	109.151
		TOTAL (A)	39723.436	34069.661	29384.701
Less	EXPENSES
		Cost of materials consumed	26442.187	22410.556	18448.649
		Purchases of Traded Goods	1628.145	1226.535	1034.112
		Changes in inventories of finished goods, work-in-progress and traded goods	(579.613)	(628.706)	131.674
		Employee benefits expenses	1433.544	1269.918	1120.520
		Other expenses	4808.922	4397.376	3821.592
		TOTAL (B)	33733.185	28675.679	24556.547
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5990.251	5393.982	4828.154
Less	FINANCIAL EXPENSES (D)		761.404	523.461	547.967
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5228.847	4870.521	4280.187
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1015.395	817.088	724.628
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		4213.452	4053.433	3555.559
Less	TAX (H)		1399.789	1329.935	1150.400
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		2813.663	2723.498	2405.159
	EARNINGS IN FOREIGN CURRENCY
		Export (On FOB Basis)	813.114	765.383	680.284
	TOTAL EARNINGS		813.114	765.383	680.284
	IMPORTS
		Raw Materials & Components	10853.334	7277.530	4930.099
		Stores & Spares	106.298	26.463	20.594
		Capital Goods	190.137	1261.400	460.403
	TOTAL IMPORTS		11149.769	8565.393	5411.096
	Earnings/ (Loss) Per Share (Rs.)		22.15	21.44	18.93

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	853.383	609.291	973.274
Cash generated from operations	4495.611	5166.518	(1166.8.24)
Net cash flows from (used in) operation	3258.805	4052.546	35189.22

KEY RATIOS

PARTICULARS		30.06.2014	30.06.2013	30.06.2012
Net Profit Margin (PAT/Sales)	(%)	7.10	8.73	9.93
Operating Profit Margin (PBDIT/Sales)	(%)	15.12	15.85	16.49
Return on Total Assets (PBT/Total Assets}	(%)	20.54	21.82	26.85
Return on Investment (ROI) (PBT/Networth)		0.44	0.51	0.59
Debt Equity Ratio (Total Debt/Networth)		0.49	0.59	0.55
Current Ratio (Current Asset/Current Liability)		1.20	0.99	0.96

STOCK PRICES

Face Value	Rs.
Market Value	Rs.

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	30.06.2012	30.06.2013	30.06.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	254.054	254.054	254.054
Reserves & Surplus	6160.559	7770.962	9395.260
Net worth	6414.613	8025.016	9649.314
long-term borrowings	1048.760	2317.628	2646.458
Short term borrowings	1488.464	1771.093	1199.226
Total borrowings	2537.224	4088.721	3845.684
Debt/Equity ratio	0.396	0.509	0.399

YEAR-ON-YEAR GROWTH

Year on Year Growth	30.06.2012	30.06.2013	30.06.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	29275.550	34030.743	39619.023
		16.243	16.421

NET PROFIT MARGIN

Net Profit Margin	30.06.2012	30.06.2013	30.06.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	29275.550	34030.743	39619.023
Profit	2906.931	2970.987	2813.663
	9.93%	8.73%	7.10%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of establishment	Yes
2]	Constitution of the entity -Incorporation details	Yes
3]	Locality of the entity	Yes
4]	Premises details	No
5]	Buyer visit details	--
6]	Contact numbers	No
7]	Name of the person contacted	No
8]	Designation of contact person	Yes
9]	Promoter’s background	Yes
10]	Date of Birth of Proprietor / Partners / Directors	Yes
11]	Pan Card No. of Proprietor / Partners	No
12]	Voter Id Card No. of Proprietor / Partners	No
13]	Type of business	Yes
14]	Line of Business	Yes
15]	Export/import details (if applicable)	No
16]	No. of employees	No
17]	Details of sister concerns
18]	Major suppliers	No
19]	Major customers	No
20]	Banking Details	Yes
21]	Banking facility details	No
22]	Conduct of the banking account	--
23]	Financials, if provided	Yes
24]	Capital in the business	Yes
25]	Last accounts filed at ROC, if applicable	Yes
26]	Turnover of firm for last three years	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	No
29]	Profitability for last three years	Yes
30]	Major shareholders, if available	Yes
31]	External Agency Rating, if available	Yes
32]	Litigations that the firm/promoter involved in	--
33]	Market information	--
34]	Payments terms	No
35]	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOANS

UNSECURED LOANS	30.06.2014 (Rs. in Million)	30.06.2013 (Rs. in Million)
LONG TERM BORROWINGS
Fixed Deposits	0.000	16.083
Deferred payment liabilities (Under Sales Tax Deferral Scheme)	20.781	21.897
Long term maturities of finance lease obligations	0.000	0.588
SHORT TERM BORROWINGS
Rupee Loans from Banks	0.000	209.804
Foreign Currency Loans - Buyer's Credit	1005.719	1203.515
Total	1026.500	1451.887

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10502087	04/06/2014	1,190,000,000.00	HSBC BANK (MAURITIUS) LIMITED	6TH FLOOR, HSBC CENTRE,, 18 CYBERCITY,, EBENE, -  NA, MAURITIUS	C06171409
2	10453658	27/09/2013	1,200,000,000.00	BNP PARIBAS	EAST TOWERS (SOOD TOWERS), 8TH FLOOR,, 25, BARAKH  AMBA ROAD,, NEW DELHI, Delhi - 110001, INDIA	B86964384
3	10294799	29/10/2012 *	451,600,000.00	STATE BANK OF INDIA	Corporate Accounts Group Branch, Neville House,,  3rd Floor,, MUMBAI, Maharashtra - 400001, INDIA	B62771910
4	10267540	22/03/2012 *	500,000,000.00	GE MONEY FINANCIAL SERVICES PVT LTD	401 402 4TH FLOORAGGARWAL MILLENIUM TOWER, E 1 2 3  , NETAJI SUBHASH PLACE, PITAMPURA DELHI,, DELHI,  Delhi - 110034, INDIA	B39333679
5	10194519	09/12/2009	600,000,000.00	YES BANK LIMITED	NEHRU CENTRE, 9TH FLOOR,, DISCOVERY OF INDIA, DR.  A. B. ROAD, WORLI, MUMBAI, Maharashtra - 400018,  INDIA	A76551795
6	90234334	09/10/2013 *	5,000,000,000.00	CENTRAL BANK OF INDIA	CORPORATE FINANCE BRANCH, MUMBAI MAIN OFFICE BLDG,  , 1ST FLOOR, M. G. ROAD, FORT, MUMBAI, Maharashtr  a - 400023, INDIA	B87675369

* Date of charge modification

SUPREME PETROCHEM LIMITED (SPL)

The Board of Directors of Supreme Petrochem Ltd (SPL) - promoted jointly by the Company and the R Raheja Group has recommended a dividend of Rs. 1.50 per Equity Share of Rs. 10 each for the year ended June 30, 2014. Net revenues and net profit for the year were R 32642.900 Million and Rs. 305.800 Million, respectively.

SUBSIDIARY COMPANY

The Supreme Industries Overseas (FZE), a wholly owned subsidiary of the Company incorporated in SAIF Zone, UAE continues to support company’s plans to increases exports in Gulf and Middle East countries. In spite of negative sentiments and slowdown in construction activity globally, it has managed to secure growth during the year, in exports of piping system. It has presence in more than 19 countries in the region and customers are being well serviced by the company.

This company has made a profit of AED 1,31,551/- equivalent to Rs 2.161 million during the year. Company will continue to participate in various international exhibitions to spread & improve the brand name and in turn

expand the export volume.

MANAGEMENT DISCUSSION AND ANALYSIS

OVERVIEW

The World economy has started showing signs of recovery led by USA and followed by Europe and Japan. The Indian economy went through a difficult phase of lower GDP growth in the year 2013-14 with substantial contraction in demand for Automobiles and consumer appliances.

The Housing Segment also has experienced quite a low demand growth during the year. The investment cycle was quite affected due to several land, environment and mining Policy level issues. Overall this has resulted in lower growth of Country’s economy compared to its potential. The country has witnessed a historical election cycle in April and May this year. A stable Government has emerged after this election

for next five years.

The new Government is committed to put the economy on growth path with a focus on job creation. It is committed to give impetus to manufacturing activity which has shown a negative trend in last year. The 2014-15 Central Budget announced by the Government in July gave directional push to the economy with a commitment to boost infrastructure activities and open up several job opportunities. The focus is on affordable Housing, road connectivity and investment push and it augurs well for the Company’s business plans for the year 2014-15 and beyond.

INDUSTRY STRUCTURE AND DEVELOPMENT

The Polymer consumption in the Country has seen a marginal de-growth in July 2013- June 14 period. Overall consumption Nos. stay at around 11 million tons for entire range of Plastics in the year 2013-14. It is expected that consumption of plastics may start on growth path in the current year. The imports of Plastics products, however, are still growing steadily. A large percentage of such imports are coming heavily under-invoiced which affects several local convertors by distorting their operational economy.

The Company observes that in several segments, the share of business of organized players are growing compared to un-organized players. There is a shift towards consumer preference to buy quality branded goods. This offers opportunities to the Company to grow it’s business even in newer segments requiring quality plastics products.

PRODUCT GROUPS

The product groups of the Company have been recast as follows:

Group	Products
Plastics Piping System	uPVC Pipes, Injection Moulded fittings and handmade fittings, Polypropylene Random Co-polymer pipes and fittings, HDPE Pipe Systems, CPVC Pipes Systems, LLDPE Tube and Inspection Chambers and manholes.
Consumer products	Furniture
Industrial Products	Industrial products, Material handling System and Pallets
Packaging Products	Flexible packaging film products, Protective Packaging Products, Cross Laminated Film products
Composite Products	LPG Gas Cylinders, Composite Pipes and Composite Pallets.

PRODUCT GROUP WISE SHARE IN TURNOVER FOR THE LAST TWO YEARS (% OF VALUE)

The net turnover (including other income) of the Company was Rs.39723.400 Million (including Rs.1718.900 Million by way of trading in other related products and Rs.602.000 Million from sale of premises) as against Rs.34069.700 Million (including Rs.1138.000 Million by way of trading in other related products and Rs.160.000 Million from sales of premises) of the previous year.

The Company during the year processed 2,75,463 tons of Polymers as against 2,70,650 tons of Polymers in the previous year, reflecting a growth of 1.78% in Polymer consumption.

The Company exported goods worth US $ 13.58 million as against US $ 14.32 million (excluding discontinued business of PP Mats) in the previous year registering a growth of 5.17%.

Profit before interest, depreciation and exceptional items and taxes during the year have gone up by Rs.596.300 Million from Rs.5394.000 Million to Rs.5990.300 Million during the year.

CONTINGENT LIABILITIES:

Particulars	30.06.2014 (Rs. in Million)	30.06.2013 (Rs. in Million)
Bills/Cheques discounted	107.240	86.446
Bank Guarantees issued by Bankers	287.313	183.687
Claim against the company including Show-cause-cum-demand Notices in relation to Central Excise and Service Tax not acknowledged as Debts	101.976	105.171
Disputed Income Tax Demands	244.484	225.548
Disputed Sales Tax / Entry Tax Demands	110.320	55.247
Other claims against the company not acknowledged as debts	28.872	16.235
Future obligation of exports towards imported capital goods at concessional rate of duty under EPCG Scheme.	535.208	634.246

Fixed assets:

Tangible Assets

· Freehold Land

· Leasehold Land

· Buildings

· Plant, Machinery and Electrical Installations

· Moulds and Dies

· Furniture, Fixture and Office Equipments

· Vehicles (Owned and Under Finance Lease)

· Sundry Equipments

Intangible Assets

· Computer Software and License Fees

· Technical License / Know How

· Right to Use

UNAUDITED FINANCIAL RESULTS FOR THE 3^rd QUARTER /9 MONTHS ENDED 31^st March 2015

(STANDALONE RESULTS)

Sr. No.	Particulars	Quarter Ended 31.12.2014	Quarter Ended 31.12.2014	9 months ended 31.03.2014
		(Rs. in Million)
1	Net Sales (Net of Excise Duty)
a	Plastic Business	10740.002	10074.903	28330.757
b	Construction Business	696.712	480.000	1156.712
2	Other Operating Income	80.320	121.614	279.781
	Total Income	11517.034	10676.517	29767.250
3	Goods Consumption
a	Raw Material Consumed	7439.340	6763.847	19961.503
b	Cost of goods traded	369.177	468.976	1209.868
c	Cost of Premises Sold	158.868	162.314	321.182
d	(Increase)/ Decrease in stock in trade	(413.428)	73.721	-1357.621
				0
4	Employees' Cost Benefit Expenses	398.313	386.876	1149.774
5	Power and Fuel Expenses	407.080	369.426	1100.917
6	Other Expenditure	1176.562	1145.355	3300.870
7	Total Expenditure before Finance (3+4+5+6)	9535.912	9370.515	25686.493
8	Operating Profit (1+2-7)	1981.122	1286.002	4080.757
9	Other Income	0.301	10.932	58.414
10	Profit before Interest, Depreciation and Tax (8+9)	1981.423	1296.934	4139.171
11	Finance Costs	162.423	169.133	470.133
12	Profit before Depreciation and Tax (10-11)	1819.000	1127.801	3669.038
13	Depreciation, Amortisation and Impairment	352.590	333.296	1034.173
14	Profit Before Tax (12-13)	1466.410	794.505	2634.865
15	Provision for Taxation
	Corporate Tax	505.500	267.000	885.000
	Deferred Tax	0.000	0.000	0.000
16	Net Profit after Tax (14-15)	960.910	527.505	1749.865
17	Share of Profit/ (Loss) in Associate
18	Consolidated Net Profit after Tax (16+17)
19	Paid Up Equity Share Capital (Face Value Rs.2/-)	254.054	254.054	254.054
20	Reserves Excluding Revaluation Reserve
21	Earning per Share-Basic and Diluted (Rs.)	7.56	4.15	13.78
22	Cash earning per Share-Basic and Diluted (Rs.)	10.34	6.78	21.92
	Part II A. Particulars of Shareholding
1	Public Shareholding
	- No. of Shares	63876865	63906865	63876865
	-% of Shareholding	50.29%	50.31%	50.29%
2	Promoters and Promoter group Shareholding
a	Pledged / Encumbered
	-Number of Shares	Nil	Nil	Nil
	- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)	Nil	Nil	Nil
	- Percentage of Shares (as a % of the total Share capital of the Company)	Nil	Nil	Nil
b	Non-encumbered
	- Number of Shares	63150005	63120005	63150005
	- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)	100.00%	100.00%	100.00%
	- Percentage of Shares (as a % of the total Share capital of the Company)	49.71%	49.69%	49.71%

B	Investor Complaints	Pending at the beginning of the quarter	Received during the quarter	Disposed of during the quarter	Remaining unresolved at the end of the quarter
		Nil	30	30	Nil

Notes :

1. The Company sold 85,732 MT of Plastic goods and achieved net product turnover of Rs. 10282.000 Million during the 3rd quarter of the current year against sales of 72,349 MT and net product turnover of Rs. 954.69 Million in the corresponding quarter of previous year achieving volume & product value growth of about 18% and 8% respectively. The Company sold 2,07,886 MT of Plastic goods and achieved net product turnover of Rs. 27144.200 Million during months period of the current year against sales of 1,88,645 and net product turnover of Rs. 2,5178.200 Million in the corresponding period of previous year achieving volume & product value growth of about 10 % and 8 % respectively.

Unseasonal rains and hailstorm in many parts of the country during Feb- March and till 3rd week of April affected business scenario both in terms of product demand and pressure on margins. Company expects volume growth between 10% to 11 % and value growth between 8%to 10% during the current year over the previous year.

2. In the standalone results, during 9 months period of current year, other income consists of dividend received from Supreme Petrochem Limited of Rs. 43.405 Million (Previous year Rs. 72.342 Million).

3. Company's Capex plan of about Rs. 2700.000 Million is progressing well. Its new plastic product complex at Kharagpur In West Bengal is likely to commence production during July - Sept. 2015 and Roto moulding unit at Malanpur (M.R) is likely to be operational by Sept. 2015.

4. In accordance with the Companies Act, 2013, the Company has computed depreciation with reference to the useful life of respective assets as specified in Schedule II of the Act and re-assessed by the Company based on internal and external technical evaluation. Consequently depreciation for the quarter and 9 months period ended on 31st March, 2015 is higher by Rs. 77.902 Million and Rs. 208.946 Million respectively. Further Rs. 183.574 Million (Net of deferred tax of Rs. 945.27 Millions) has been adjusted against the opening balance of retained earnings, representing the carrying amount of the assets whose useful life is already exhausted as on 30th June, 2014.

5. (a) During the 3rd quarter of the current year. Company has realised Rs. 696.712 Million from sale of 39780 sq. ft. of the premises and shown separately under 'Net Sales (Construction business)'. Proportionate cost thereof has been shown as "Cost of premises Sold'. Other overheads pertaining to construction business and sale of premises amounting to Rs. 29.568 Million have been shown under respective head of expenditure. Provision for Corporate Tax includes Rs. 172.000 Million towards profit accrued from construction business.

(b) Company has further negotiated sale of 12540 sq. ft. premises at Supreme Chambers at an aggregate consideration of Rs. 2364.60 Million and the same is getting completed in April, 2015. Full consideration has since been received. Appropriate accounting effects shall be given on completion of the transaction.

6. The Company is engaged mainly in production of plastic products. Company has recognized construction of commercial property as a new non-recurring business activity which is shown as separate reportable segment as per Accounting Standard on Segment Reporting (AS-17) issued by ICAI.

The geographical segmentation is not relevant as export turnover is not significant in respect to total turnover.

7. Prevision for Tax includes Deferred Tax which will be ascertained and accounted for at the end of the year.

8. The Consolidated Results includes Results of (a) the Company's 100% Subsidiary Company viz 'The Supreme industries Overseas (FZE) incorporated in SAIF Zone, UAE and (b) Associate Company viz. "Supreme Petrochem Limited", in which the Company holds 29.99% of its paid-up equity share capital.

9. The figures for the previous quarter / year have been regrouped / rearranged wherever necessary.

The above financial results, which have been subjected to "Limited Review* by the Auditors, have been reviewed by the audit committee and approved by the Board of Directors at their meetings held on 24th April, 2015.

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 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.63.57
UK Pound	1	Rs.98.22
Euro	1	Rs.69.93

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	SUM
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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	NO
--AFFILIATION	YES/NO	Yes
--LISTED	YES/NO	Yes
--OTHER MERIT FACTORS	YES/NO	yes
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		60

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.