MIRA INFORM REPORT

 

 

Report No. :

350153

Report Date :

24.11.2015

 

IDENTIFICATION DETAILS

 

Name :

SUPERHOUSE LIMITED

 

 

Registered Office :

150 Feet Road, Jajmau, Kanpur – 208010, Uttar Pradesh

Tel. No.:

91-512-2351120 / 2351867

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

14.01.1980

 

 

Com. Reg. No.:

20-004910

 

 

Capital Investment / Paid-up Capital :

Rs. 114.198 Million

 

 

CIN No.:

[Company Identification No.]

L24231UP1980PLC004910

 

 

TIN No.:

09545202445

 

 

IEC No.:

0688006671

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

KNPS01554A

 

 

PAN No.:

[Permanent Account No.]

AABCS9328K

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer of Leather garments and clothing, army garments. Shoes, leather garments and accessories.

 

 

No. of Employees :

1000 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (62)

 

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 6400000

 

 

Status :

Good 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well – established company having fine track record. It was established in the year 1980.

 

From the financial for the year ended 2015, the company possesses healthy operational activity marked increase in revenue profile and profitability margin of 4.8%.

 

Rating further takes consideration on company decent net worth position and above average debt protection metrics and liquidity

 

Moreover, rating take into account the company’s experienced promoters, its integrated manufacturing operations which increase its cost competitiveness and its established market position as one of the leading exporters of leather products in India.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitments.

 

The company can be considered for 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

ICRA

Rating

Fund based Facilities = A

Rating Explanation

Adequate degree of safety and low credit risk

Date

July 2015

 

Rating Agency Name

ICRA

Rating

Non-Fund based facilities = A1

Rating Explanation

Very strong degree of safety and lowest credit risk

Date

July 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 31-03-2015.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Anil Kumar Agarwal

Designation :

Finance Controller

Contact No.:

91-512-2304122

 

 

LOCATIONS

 

Registered Office :

150 Feet Road, Jajmau, Kanpur – 208 010, 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

 

 

Branches 1:

24/57, First Floor, Birhana Road, Kanpur-208001, Uttar Pradesh, India

 

 

Branches 2:

C/o Rajesh Parasramka, Room No. 1577, IIIrd Floor, Building No. 42B, Gangadhar Cooperative Housing Society Vartak Nagar, Thane (West)-400606, Maharashtra, India

 

 

Corporate Office/ Central Purchase Department :

D-15/B, UPSIDC, Industrial Area, Phase-II Unnao – 209 801, Uttar Pradesh, India

Tel. No.:

91-515-2029452/ 2829923/ 2829657/ 2829037

Fax No.:

91-515-2929325/ 2829190

 

 

Corporate Affairs/ Human Resources Issues Department :

15/288 D, Civil Lines, Kanpur, Uttar Pradesh, India

Tel. No.:

91-512-2304122, 2304251, 3290202

Fax No.:

91-512-2306679

E-Mail :

akagarwal@superhousegroup.com

hrd@superhousegroup.com

 

 

Plants :

Fashion Shoe Division I

D-15, UPSIDC Industrial Area, Site-II, Unnao - 209 801, Uttar Pradesh, India

 

Fashion Shoe Division II

A-5,UPSIDC Industrial Area, Site-B, Sikandra, Agra – 282 007, Uttar Pradesh, India

 

Fashion Shoe Division III

A-3, Export Promotion Industrial Park, Shastripuram, Agra – 282 007, Uttar Pradesh, India

 

Fashion Shoe Division IV

D-18, UPSIDC Industrial Area, Site-II, Unnao – 209 801, Uttar Pradesh, India

 

Tannery I

A-1, Site-II, Industrial Area, Unnao – 209 801, Uttar Pradesh, India

 

Tannery II

B-16, UPSIDC Industrial Area, Site-II, Unnao - 209 801, Uttar Pradesh, India

 

Upper Division

71-A, Jajmau, Kanpur – 208 010, Uttar Pradesh, India

 

Safety Footwear Division I

B-6, UPSIDC Industrial Area, Site-I, Unnao - 209 801, Uttar Pradesh, India

 

Safety Footwear Division II

Banthar, Unnao – 209 801, Uttar Pradesh, India

 

Readymade Garments Division I

A-14, Sector-65, Phase-III, Noida – 201 303, Uttar Pradesh, India

 

Readymade Garments Division II

C-10, Sector-58, Phase-II, Noida – 201 303, Uttar Pradesh, India

 

Readymade Garments Division III

A-61/2, UPSIDC Industrial Area, Sikandrabad, Bulandshahr – 203 205, Uttar Pradesh, India

 

Safety Garments Division

E-23, 24 UPSIDC Industrial Area, Site-I, Unnao – 209 801, Uttar Pradesh, India

 

Leather Garments and Bags Division

A-69, Sector-57, Noida - 201 301, Uttar Pradesh, India

 

 

Division Office :

Upper Division

102/88 - A (10) Wazidpur, 150 Feet Road, Jajmau, Kanpur – 208 010, Uttar Pradesh, India

Tel: 91-515 - 2460496, 2463373, 2461391

Fax: 91-515 - 2460814, 2462124

 

Chrome Tannery Division

A-1 C-1 Industrial Area, Site-II, Unnao – 209 801, Uttar Pradesh, India

Tel: 91-515 - 2829750, 2829850

Fax: 91-515 - 2829325, 2829190

 

Goat Tannery

B-15,16 and 17, Industrial Area, Site, Unnao – 209 801, Uttar Pradesh, India

Tel: 91-515-2829845, 2829812, 2829248

Fax: 91-515-2829658, 2829190

 

Harness and Sole Tannery

B-16 and 17, Site II Industrial Area, Unnao – 209 801, Uttar Pradesh, India

Tel.:  91-515-282845, 2829812, 2829248, 2829658

Fax.: 91-515-2829190

 

Shoe Division

D-15/B, UPSIDC, Industrial Area, Phase-II, Unnao – 209 801, Uttar Pradesh, India

Tel: 91-51 -2829452, 2829923, 2829657, 2829037

Fax: 91-515-2829325, 2829190

 

Safety Footwear Division

B-6, Site-I UPSIDC, Industrial Area, Unnao – 209 801, Uttar Pradesh, India

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, Uttar Pradesh, India

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, Uttar Pradesh, India

Tel: 91-562-2642336

 

Leather Garments Division

B-37, Sector - 59, Phase-II, Noida, Uttar Pradesh, India

Tel: 91-120-2584819, 2585819

Fax: 91-120-2584976

 

Textile Garments Division

C-10, Sector-58, Phase-II, Noida, Uttar Pradesh, India

Tel: 91-120-2580095,2490630

Fax: 91-120-2580095

 

Marketing Office, Bangalore

Marketing Office, Noida

C-10, Sector-58, Phase-II, Noida, Uttar Pradesh, India

Tel: 91-120-2580095, 2490630

Fax: 91-120-2580095

 

Marketing Office, Chennai

42/1/II, Main Road, Kalaimagal Nagar, Ekkathuthqngal, Chennai – 600 097, Tamilnadu, India

Tele-fax: 91-44-22253731

 

Super Footwear Limited

Shed No.1, Leather Complex, Site-II, Industrial Area, Unnao – 209 801, Uttar Pradesh, India

Fax: 91-515-2829325, 2829190

 

Superhouse Shoes Limited

E-54, UPSIDC, Industrial Area, Phase-II, Unnao, Uttar Pradesh, India

Tel: 91-515-2829289

 

Amin International Limited

E-55, UPSIDC, Industrial Area, Phase-II, Unnao, Uttar Pradesh, India

Tel: 91-515-2829704

 

 

Overseas Office :

Located at:

 

·         UK

·         USA

·         UAE

·         Denmark

·         China

 

 

DIRECTORS

 

As on 31.03.2015

 

MANAGING DIRECTORS

 

Name :

Mr. Mukhtarul Amin

Designation :

Chairman and Managing Director

Address :

15/288, Civil Lines, Kanpur – 208 001, Uttar Pradesh, India

Date of Birth :

17.02.1952

Qualification :

B.Sc.

Date of Appointment :

01.03.2012

DIN No.:

00012108

 

 

Name :

Mr. Zafarul Amin

Designation :

Joint Managing Director

Address :

15/288, Civil Lines, Kapur – 208 001, Uttar Pradesh, India

Date of Birth :

27.01.1983

Date of Appointment :

01.04.2012

DIN No.:

00015533

 

 

WHOLE TIME DIRECTORS

 

Name :

Mrs. Shahina Mukhtar

Designation :

Whole-time Director

Address :

15/288, Civil Lines, Kanpur – 208 001, Uttar Pradesh, India

Date of Birth :

05.01.1956

Date of Appointment :

01.04.2012

DIN No.:

00015442

 

 

Name :

Mr. Vinay Sanan

Designation :

Executive Director

Address :

801, Gokul Apartment, 16/16 civil Lines, Kanpur – 208 001, Uttar Pradesh, India

Date of Birth :

12.10.1956

Date of Appointment :

01.08.2011

DIN No.:

00014536

 

 

Name :

Mr. Anil Kumar Agarwal

Designation :

Director Finance

Address :

249/2, Civil Lines, Kanpur, – 208 001, Uttar Pradesh, India

Date of Birth :

05.12.1954

Date of Appointment :

01.04.2012

DIN No.:

00014645

 

 

Name :

Mr. Mohammad Shadab

Designation :

Whole-time Director

Address :

13/392-A-1, Civil Lines, Kapur – 208 001, Uttar Pradesh, India

Date of Birth :

16.01.1977

Date of Appointment :

01.04.2012

DIN No.:

00098221

 

 

INDEPENDENT DIRECTORS

 

Name :

Mr. Nemi Chand Jain

Designation :

Independent Director

Address :

601, Sanskruti, Plot No.2, Sector – 42, Nerul, Navi Mumbai – 400 706, Maharashtra, India 

Date of Birth :

16.05.1939

Date of Appointment :

05.09.2005

DIN No.:

00031283

 

 

Name :

Dr. Krishna Kumar Agarwal

Designation :

Independent Director

Address :

IV-23, Laxmi Bagh Colony, Lawab Ganj, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth :

31.01.1953

Date of Appointment :

06.03.2004

DIN No.:

00022719

 

 

Name :

Mr. Anil Soni

Designation :

Independent Director

Address :

120/243, Lajpat Nagar, Kapur – 208 012, Uttar Pradesh, India

Date of Birth :

22.08.1961

Date of Appointment :

06.03.2004

DIN No.:

00023188

 

 

Name :

Dr. Krishna Kumar Agarwal

Designation :

Independent Director

Address :

IV-23, Laxmi Bagh Colony, Lawab Ganj, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth :

31.01.1953

Date of Appointment :

06.03.2004

DIN No.:

00022719

 

 

Name :

Mr. Dilip Kumar Dheer

Designation :

Independent Director

Address :

120/233, Lajpat Nagar, Kanpur – 208 005, Uttar Pradesh, India

Date of Birth :

01.03.1950

Date of Appointment :

13.11.2010

DIN No.:

03341879

 

 

Name :

Mr. Syed Javed Ali Hashmi

Designation :

Independent Director

Address :

89/218-C, Flat No.101, Dalal Purwa, Kanpur – 208 001, Uttar Pradesh, India

Date of Birth :

29.05.1973

Date of Appointment :

30.01.2010

DIN No.:

00014726

 

 

Name :

Mr. Kamal Agarwal

Designation :

Director

Address :

117/277 `O' Block, Geeta Nagar, Kanpur, 208025, Uttar Pradesh, India

Date of Appointment :

28.01.2006

DIN No.:

00022904

 

 

KEY EXECUTIVES

 

Name :

Mr. Anil Kumar Agarwal

Designation :

Finance Controller / Chief Executive Officer

Address :

249/2,, Civil Lines, Unnao, 209801, Uttar Pradesh, India

Date of Appointment :

30.05.2014

DIN No.:

ABVPA2294C

 

 

Name :

Mr. Raj Kumar Agrawal

Designation :

Company Secretary

Address :

133/92-0-Block, Kidwai Nagar, Kanpur – 208 023, Uttar Pradesh, India

Date of Birth :

01.04.1959

Date of Appointment :

07.06.2007

PAN No.:

AEIPA3874Q

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

As a % of (A+B)

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

2369508

21.49

http://www.bseindia.com/include/images/clear.gifBodies Corporate

3681366

33.39

http://www.bseindia.com/include/images/clear.gifSub Total

6050874

54.88

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

6050874

54.88

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

3587

0.03

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

3525

0.03

http://www.bseindia.com/include/images/clear.gifSub Total

7112

0.06

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

535872

4.86

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 1 lakh

3626061

32.89

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 1 lakh

567695

5.15

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

237386

2.15

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

182087

1.65

http://www.bseindia.com/include/images/clear.gifHindu Undivided Families

49336

0.45

http://www.bseindia.com/include/images/clear.gifClearing Members

5213

0.05

http://www.bseindia.com/include/images/clear.gifOthers

750

0.01

http://www.bseindia.com/include/images/clear.gifSub Total

4967014

45.05

Total Public shareholding (B)

4974126

45.12

Total (A)+(B)

11025000

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1)

0

0.00

http://www.bseindia.com/include/images/clear.gif(2)

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

11025000

0.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Leather garments and clothing, army garments. Shoes, leather garments and accessories.

 

 

Products :

Item Code No.

 

Product Description

4104 and 4106 and 4107

Finished Leather

640610

Shoe Uppers

6403

Footwear

 

·         Accessories

·         Leather Garments

·         Rugs and Chaps

·         Textile Garments

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Hong Kong
  • Srilanka
  • Mexico
  • Turkey
  • Spain
  • UK
  • US
  • South Africa

 

 

Imports :

 

Products :

Raw Material

Countries :

UAE

 

 

Terms :

 

Selling :

Cash and Credit (30,60,90 Days)

 

 

Purchasing :

Cash and Credit (30,60,90 Days)

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

1000 (Approximately) 

 

 

Bankers :

Bank Name

State Bank of India

Branch

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

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Bank Name

Punjab National Bank

Branch

Kanpur, Uttar Pradesh, India

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Term Loans

 

 

Indian rupee loan from bank(s)

172.069

123.197

Foreign currency loan from bank(s)

169.059

226.843

Indian rupee vehicle loan from bank(s)

4.626

2.493

 

 

 

Short-term borrowings

 

 

Working Capital Loans

 

 

Indian rupee loan from bank(s)

1243.320

1172.943

Foreign currency loan from bank(s)

107.079

48.089

Total

1696.153

1573.565

 

Note : Long Term Borrowing

 

  1. Indian rupee and foreign currency loans from bank(s) are primarily secured by equitable mortgage/hypothecation of specific fixed assets. Also secured collaterally by equitable mortgage of company's specific land and building. Further secured by personal guarantee of promoter director(s) of the company. External Commercial Borrowing (ECB) carries a non-disposable undertaking of the Shares of the acquired Wholly Owned Subsidiaries (WOS).

 

2.  These Loans are repayable over a period upto 6 years.

 

3. Continuing default in respect of principal and or interest Nil

 

4. Long term borrowings repayable within twelve months from the reporting date, as per sanctioned terms, are reduced from long term borrowings and disclosed separately as Current Maturities of Long term Borrowings in Note 8, Other Current Liabilities.

 

5. Secured against vehicle financed.

 

Short Term Borrowing

 

Working Capital Loans are primarily secured by hypothecation of present and future stock of raw materials, stock in process, finished goods, stores and spares, book debts, outstanding monies, receivable claims, bills and materials in transit. Also secured collaterally by equitable mortgage of company's specific factory land and building. Further secured by personal guarantee of promoter director(s) of the company.

 

Auditors :

 

Name :

Kapoor Tandon and Company

Chartered Accountants

Address :

21, Daya Nand Marg, Above Muthoot Finance, Darya Ganj, Delhi – 110003, India

Tel. No.:

91-512-2361244

Mobile No.:

91-9415048222 / 9935271516 / 9935041434 / 9935030768

Fax No.:

91-512-2361244

E-Mail :

kapoornarendra@rediffmail.com

ktc_himanshu@rediffmail.com

ktc_rajesh@yahoo.co.in

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary (Wholly owned) Company:

 

·         Superhouse (U.K.) Limited, UK

·         Superhouse (USA) International Inc., USA

·         Superhouse Middle East FZC, Azman

·         Briggs Industrial Footwear Limited (U.K.)

·         Linea De Seguridad S.L.U., Spain

·         Superhouse GMBH, Germany

 

 

Associates:

 

·         Unnao Tanneries Pollution Control Company

(A company registered under Section 25 of erstwhile the Companies Act, 1956)

 

·         Steven Construction Limited

·         Amin International Limited

·         Knowledgehouse Limited

·         Creemos International Limited

 

 

Others: Enterprise over which KMP or relatives of KMP are able to exercise significance influence:

 

·         Prime International (a partnership firm)

·         Shoe House (a partnership firm)

·         Chowdhary Overseas Limited

·         Super Tannery Limited

·         Rojus Enterprises Limited

·         Modriba Hygiene Solutions Limited

·         Superhouse Accessories Limited

·         Creemos International Limited

·         Rivera Trendz Private Limited

·         Super Shoes Limited

·         Mayfair Leather Exports Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15000000

Equity Shares

Rs.10/- each

Rs.150.000 Million

 

 

 

 

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

14972718

Equity Shares

Rs.10/- each

Rs.149.727 Million

 

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

11025000

Equity Shares

Rs.10/- each

Rs.110.250 Million

 

Add: Equity Shares forfeited

(Amount originally paid up in respect of 3947718 share)

 

Rs.3.948 Million

 

Total

 

Rs. 114.198 Million

 

 

Reconciliation of the shares outstanding at the beginning and at the end of the year:

 

Equity shares

As at 31st March, 2015

No. of Shares

Amount

(Rs. in million)

At the beginning of the year

11025000

110.250

Changes during the year

--

--

Outstanding at the end of the year

11025000

110.250

 

Term/rights attached to equity shares

 

The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

 

 

Bonus Shares/Shares issued for consideration other than cash and Buy Back of shares NIL (NIL) during preceding five years:

 

Shares held by holding/ultimate holding company and/or their subsidiaries/associates: NIL (NIL)

 

Details of shareholders holding more than 5% shares in the company

           

Name of the Share Holder

As at 31st March, 2015

No. of Shares

% held

Mr. Mukhtarul Amin

1324487

12.01%

Steven Construction Limited

1315119

11.93%

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

114.198

114.198

114.198

(b) Reserves & Surplus

2117.115

1846.352

1547.870

(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)

2231.313

1960.550

1662.068

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

345.755

352.533

353.628

(b) Deferred tax liabilities (Net)

140.694

140.610

129.928

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

486.449

493.143

483.556

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1350.398

1221.032

1011.53

(b) Trade payables

996.837

1003.372

947.098

(c) Other current liabilities

580.82

603.667

488.626

(d) Short-term provisions

48.693

76.917

46.469

Total Current Liabilities (4)

2976.748

2904.988

2493.723

 

 

 

 

TOTAL

5694.510

5358.681

4639.347

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1627.375

1594.911

1550.381

(ii) Intangible Assets

2.262

32.193

54.806

(iii) Capital work-in-progress

161.834

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

349.712

323.073

295.928

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

102.772

70.554

62.678

(e) Other Non-current assets

0.000

16.121

8.864

Total Non-Current Assets

2243.955

2036.852

1972.657

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1732.964

1451.704

1319.491

(c) Trade receivables

1051.636

1263.548

870.930

(d) Cash and cash equivalents

284.237

258.058

222.266

(e) Short-term loans and advances

164.118

153.742

129.418

(f) Other current assets

217.600

194.777

124.585

Total Current Assets

3450.555

3321.829

2666.690

 

 

 

 

TOTAL

5694.510

5358.681

4639.347

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

7066.192

6659.87

5173.554

 

Other Income

53.994

57.666

56.321

 

TOTAL (A)

7120.186

6717.536

5229.875

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

3893.626

3570.568

2907.086

 

Purchases of Stock-in-Trade

537.792

515.294

261.769

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(153.986)

(64.798)

(23.229)

 

Employees benefits expense

417.312

355.353

305.642

 

Other expenses

1592.965

1481.398

1167.51

 

TOTAL (B)

6287.709

5857.815

4618.778

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

832.477

859.721

611.097

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

190.684

233.413

171.946

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

641.793

626.308

439.151

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

132.481

130.509

113.327

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

509.312

495.799

325.824

 

 

 

 

 

Less

TAX (H)

184.654

171.338

112.456

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

324.658

324.461

213.368

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

839.310

634.196

540.175

 

 

 

 

 

Less

Adjustment related to fixed assets (L)

19.971

0.000

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

100.000

100.000

100.000

 

Dividend

16.537

16.637

16.537

 

Tax on Dividend

3.367

2.810

2.810

 

Total (M)

119.904

119.447

119.347

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

1024.093

839.210

634.196

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

5714.268

5487.426

4146.497

 

Dividend from Wholly Owned Subsidiaries

5.446

5.429

4.076

 

Others (Commission on Corporate Guarantee)

2.344

1.764

0.000

 

TOTAL EARNINGS

5722.058

5494.619

4150.573

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

612.264

491.744

377.561

 

Chemicals, Stores, Components and Spare Parts

307.691

283.093

193.341

 

Capital Goods

54.497

34.658

75.462

 

Finished Goods

24.694

31.294

27.593

 

TOTAL IMPORTS

999.146

840.789

673.957

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

29.45

29.43

19.35

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

226.329

199.806

183.350

Cash generated from operations

625.414

369.372

348.496

Net cash flow from operating activity

414.691

241.766

249.020

 

 

QUARTERLY / SUMMARISED RESULTS

 

QUARTERLY RESULTS

 

Particulars

June 2015

September 2015

Audited / Unaudited

Unaudited

Unaudited

Net Sales

1490.510

1684.400

Total Expenditure

1314.840

1494.090

PBIDT (Excl OI)

175.670

190.310

Other Income

3.360

2.420

Operating Profit

179.030

192.730

Interest

47.430

46.790

Exceptional Items

(9.060)

(9.820)

PBDT

122.540

136.120

Depreciation

35.630

35.780

Profit Before Tax

86.910

100.340

Tax

31.300

35.550

Provisions and contingencies

NA

NA

Profit After Tax

55.610

64.790

Extraordinary Items

NA

NA

Prior Period Expenses

NA

NA

Other Adjustments

NA

NA

Net Profit

55.610

64.790

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

4.59

4.87

4.12

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

11.78

12.91

11.81

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

9.83

9.85

7.50

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.23

0.25

0.20

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.86

0.90

0.93

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.16

1.14

1.07

 

STOCK PRICES

 

Face Value

Rs.10.00/-

Market Value

Rs.158.80/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

114.198

114.198

114.198

Reserves & Surplus

1547.870

1846.352

2117.115

Net worth

1662.068

1960.550

2231.313

 

 

 

 

long-term borrowings

353.628

352.533

345.755

Short term borrowings

1011.530

1221.032

1350.398

Current Maturities Of Long-Term Debts

183.350

199.806

226.329

Total borrowings

1548.508

1773.371

1922.482

Debt/Equity ratio

0.932

0.905

0.862

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

5173.554

6659.870

7066.192

 

 

28.729

6.101

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

5173.554

6659.870

7066.192

Profit

213.368

324.461

324.658

 

4.12%

4.87%

4.59%

 

 

 

 

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

Yes

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

 

FINANCIAL PERFORMANCE:-

 

The company has achieved the sales and other Income of Rs. 7120.200 Million against Rs. 6717.500 Million reported last year. The Profit before tax was Rs. 509.300 Million and profit after tax was Rs. 324.700 Million during the year as compared to Rs. 495.800 Million and Rs. 324.500 Million, respectively, during previous year. Revenue from operations (Net) increased by Rs. 406.300 Million to Rs. 706.62 crore and export increased by 3.74% to Rs. 5714.300 Million during the year. Earning per share increased from Rs. 294.300 Million per share during the previous year to Rs. 294.500 Million per share during the year.

 

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

Macroeconomic Overview.

 

Macroeconomic fundamentals have dramatically improved for the better, reflected in both temporal and cross-country comparisons. Inflation has declined by over 6 percentage points since late 2013, and the current account deficit has shrivelled from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest rates, reflected in the yield on 10-years government securities, and contributed to the surge in equity prices. As a result of these improvements, India’s macroeconomic position now compares favourably with other countries.

 

India ranks amongst the most attractive investment destinations, well above other countries. It ranks well above the mean for its investment grade category, and also above the mean for the investment category above it (on the basis of the new growth estimates). The reality and prospect of high and rising growth, combined with macroeconomic stability, is the promise of India going forward. Today, India’s fortunes have improved dramatically and India demonstrated the greatest improvement in the MVI while many others maintained the status quo or showed only a marginal improvement or deteriorated dramatically (Russia). India is still more vulnerable than the mean of countries in its investor rating category (BBB) but is less so than many of its larger emerging market peers.

 

However, due to decrease in currency rate of Euro, Pound and Yen, the overall export from Indian marginely decreased by 1.22% in doller terms. India’s exports during 2014-15 were valued as INR 18977.86 billion, registering a decline of .38% over the level of INR 19050.11 billion in 2013-14 in rupee terms. As against overall decrease of 1.22% in Export, the growth rate of Leather Industries was 9.37% in doller terms during 2014-15.

 

Industry Structure and Development

 

The Leather Industry holds a prominent place in the Indian economy. This sector is known for its consistency in high export earnings and it is among the top ten foreign exchange earners for the country. With an annual turnover of over US$ 11 billion, the export of leather and leather products increased manifold over the past decades and touched US$ 5.91 billion during 2013-14, recording a cumulative annual growth rate of about 14.77% (5 years).

 

The Leather industry is bestowed with an affluence of raw materials as India is endowed with 21% of world cattle and buffalo and 11% of world goat and sheep population. Added to this are the strengths of skilled manpower, innovative technology, increasing industry compliance to international environmental standards, and the dedicated support of the allied industries. The leather industry is an employment intensive sector, providing jobs to about 2.5 million people, mostly from the weaker sections of the society. Women's employment is predominant in the leather products sector with about 30% share.

 

India is the second largest producer of footwear and leather garments in the world.

 

 The leather industry is spread in different segments, namely, Finished Leather, Footwear, Footwear Components, Leather Garments and Leather Goods including Bags, Saddlery, Harness and Leather Gloves. As per DGCI and S monthly export data, the export of leather and leather products for the year 2013-14 stands at US$5908.82 million against the export of US$5015.41 million during the previous period, registering a positive growth of 17.81%. In Rupee term impressive growth of 31% registered during the year.

 

As per DGCI&S monthly export data, the export of leather and leather products for the year 2014-15 stands at US$.6494.41 million against the export of US$5937.97 million during the previous period, registering a positive growth of 9.37%. In Rupee terms impressive growth of 10.53% registered during the year.

 

The major markets for Indian Leather and Leather Products are Germany with a share of 12.32%, USA 11.83%, U.K. 11.57%, Italy 7.76%, Hong Kong 6.50%, France 5.72%, Spain 5.41%, UAE 4.3%, Netherlands 3.46%, China 2.99%, Vietnam 1.78%, Belgium 1.68% and Denmark 1.29%.

 

These 13 countries together accounts for nearly 75% of India’s total leather and leather products export.

 

SEGMENT-WISE PERFORMANCE:-

 

The segment-wise performance of the company during the year is as under :-

 

Segments                         Turnover

 

a. Leather and Leather      Rs. 5853.700 Million

Products                            (previous year Rs. 5628.800 Million)

 

b. Textile Garments           Rs.1176.200 Million

                                          (previous year Rs. 959.600 Million)

 

Domestic Sales: The Company is manufacturing and selling its products in domestic market with reputed Allen Cooper Brand.

 

 

OUTLOOK :-

 

As a medium to long-run prospects of Indian Economy, including the Industrial Sector, continues to be positive, a rise in saving and demand for consumable products is quite inevitable. The leather industry is basically a consumer product industry, hence with the increase in demand for consumer production; the prospect of the leather industry is bright. During the 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, 2013 and Generally Accepted Accounting Principles in India. The company has achieved the sales and other income of Rs 7120.200 Million during the year against Rs. 6717.500 Million reported last year. The profit after tax was Rs 324.700 Million during the year as compared to Rs. 324.500 Million reported during the previous year. The gross block of the company as at 31.03.2015 was Rs 2890.100 Million against Rs. 2708.100 Million as at 31.03.2014. The net current assets as at 31.03.2015 were Rs 473.800 Million as against Rs. 411.500 Million as at 31.03.2014. The detailed information on financial performance is given in the attached annual financial statements.

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10451879

03/09/2013

1,100,000.00

STATE BANK OF INDIA

KAMLA NAGAR BRANCH, AGRA, Uttar Pradesh - 282004, 
INDIA

B86094067

2

10382212

30/08/2012

2,075,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

B60340346

3

10351690

12/03/2012

1,071,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

B38210837

4

10332059

07/12/2011

6,380,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

B30632442

5

10254807

23/11/2010

2,175,353.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

B01296540

6

10254809

23/11/2010

609,428.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

B01296763

7

90269726

20/06/1995 *

1,500,000.00

PUNJAB NATIONAL BANK CHAKERI KANPUR

KANPUR, KANPUR, Uttar Pradesh, INDIA

-

8

90269572

17/04/2014 *

569,500,000.00

BANK OF BARODA SME-1 BRANCH

117/K/21-B, SARVODAYA NAGAR, KANPUR, Uttar Pradesh - 208001, INDIA

C05671839

9

90269022

09/06/2015 *

2,004,000,000.00

PUNJAB NATIONAL BANK

Mall Road, Kanpur, Uttar Pradesh - 208001, INDIA

C57317695

10

90273161

25/01/1995

35,300,000.00

STATE BANK OF INDIA; LAL IMLI

KANPUR, KANPUR, Uttar Pradesh, INDIA

-

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2015

                                                                                                                                     (Rs. in Million)

Sr.

No

 

 

Particulars

 

Quarter ended

30.06.2015

Unaudited

1

Income From Operations

 

 

a. Net Sales/ Income from  Operations

(Net of Excise Duty)

1466.102

 

b. Other Operating Income

24.409

 

Total Income from Operations (Net)

1490.511

2

Expenditure

 

 

a. Cost of material Consumed

839.573

 

b. Purchase of Stock-in trade

144.085

 

c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade

(94.172)

 

e. Employees Benefit Expenses

103.642

 

f. Depreciation and Amortization Expenses

35.634

 

g. Other expenses

321.716

 

 

 

 

Total Expenses

1350.478

 

 

 

3

Profit from Operations before Other Income, Interest and Exceptional Items

140.033

4

Other Income

3.360

5

Profit from ordinary activities before finance cost & exceptional items

143.393

 

Finance costs

47.429

 

Profit from ordinary activities after finance cost & exceptional items

95.964

9

Exceptional items

9.064

10

Profit from ordinary activities before tax

86.900

11

Tax Expense

31.295

12

Net profit from ordinary Activities after tax

55.605

13

Extra Ordinary Items (Net of tax expenses)

--

14

Net Profit for the period

55.605

15

Paid-up equity share capital (face value of Rs.10 per share)

114.198

16

Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year

--

17

Earning Per Share (of Rs.10 each) (not annualized)

 

 

Before extraordinary items

 

 

Basic EPS 

5.04

 

Diluted EPS

5.04

 

 

 

A

PARTICULARS OF SHAREHOLDING

 

17

Public Shareholding

 

 

- No. of shares

4974126

 

- Percentage of shareholding

45.12%

18

Promoter & Promoter Group Shareholding

 

 

a) Pledged/Encumbered

 

 

- No. of shares

--

 

- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group)

--

 

- Percentage of shareholding (as a % of the total share capital of the company)

--

 

b) Non-encumbered

 

 

- No. of shares

6050874

 

- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group)

100%

 

- Percentage of shareholding (as a % of the total share capital of the company)

54.88%

 

 

Particulars

Quarter Ended

B

Investor Complaints

(30.06.2015)

 

Pending at the beginning of the quarter

Nil

 

Received during the quarter

2

 

Disposed off during the quarter

2

 

Remaining unresolved at the end of the quarter

Nil

 

 

SEGMENT WISE REVENUDE, RESULTS AND CAPITAL EMPLOYED, FOR THE QUARTER ENDED 30.06.2015

 

Sr.

No

 

 

Name of the Segment

 

Quarter ended

30.06.2015

Unaudited

1

Segment Revenue

 

 

A.    Leather and Leather Product 

1225.966

 

B.    Textile Product 

240.136

 

C.    Others

--

 

 

 

 

Net Sales / Income from Operations

1466.102

 

 

 

2.

Segment Results (Profit/Loss)

 

 

Before Interest and financial cost from each segment 

 

 

A.    Leather and Leather Product 

123.577

 

B.    Textile Product 

19.816

 

C.    Others

--

 

Total

 

 

Less : Finance Cost

47.429

 

        : Exchange difference on foreign currency loans

9.064

 

        : Other Un-allocable Income / Expenses

--

 

 

 

 

Total Profit before Tax

86.900

 

 

 

 

Capital Employed

 

 

(Segment Assets Less Segment Liabilities)

 

3

A.    Leather and Leather Product 

1960.538

 

B.    Textile Product 

322.564

 

C.    Others

--

 

Total Capital Employed

2283.102

 

 

 

 

Notes :

 

1. The above results were reviewed by the Audit Committee and were taken on record by the Board of Director in their meeting held on 14.08.2015.


2. The financial results are based on the accounts drawn in accordance with generally accepted accounting practices consistently followed in compliance with the mandatory accounting standards.


3. The Statutory Auditors have carried out a Limited Review of the above results.


4. The above results are also available on the website of the Company and the Mumbai Stock Exchange at www.superhouse.in


5. The figures of quarter ended on 31.03 2015 are the balancing figures between the audited figures in respect of full financial year and the year to date figures upto third quarter of the financial year.


7. Figures of the previous period(s) year have been regrouped and rearranged wherever necessary.

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

Claim against the company not acknowledged as debt

1.808

3.770

Contingent Liabilities in respect of:

 

 

 

Guarantees issued by the Bank

74.430

9.719

Corporate Guarantee(s) to bank(s) against credit facilities extended to Wholly Owned Subsidiaries in U.K., UAE and Spain

511.876

348.384

Letter of Credit opened and outstanding

239.106

324.411

Duty on Export obligation pending

61.566

73.679

Electricity demand pending litigation

2.860

1.584

 

 

FIXED ASSETS

 

·         Land Leasehold

·         Land Freehold

·         Building – Factory

·         Building – Non-Factory 

·         Plant and Equipments

·         Furniture and Fittings

·         Vehicles

·         Computers

 

 

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.66.34

UK Pound

1

Rs.100.66

Euro

1

Rs.70.46

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRP

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SUJ

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--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

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

62

 

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.