Dear Shareholder,
The Directors of your Company have pleasure in presenting the 41 st
Annual Report on the business and operations of the Company together with Audited
Financial Statements for the year ended 3V March 2025:
| FINANCIAL RESULTS |
Year Ended 31.03.2025 (Rs. in Lacs) |
Year
E 31.03 (Rs. in |
nded
2024
Lacs) |
| PROFITS: |
|
|
|
|
| Profit before
Interest, Depreciation & extra-ordinary items |
2437.03 |
|
2018.54 |
|
| Less: Interest |
528.36 |
|
461.89 |
|
| Depreciation |
743.78 |
|
670.74 |
|
| Exchange
Fluctuation Loss/(gains) |
00.00 |
|
00.00 |
|
| Bad Debts written
off |
00.00 |
1372.14 |
28.80 |
1161.43 |
| Profit before tax |
1064.89 |
|
857.11 |
|
| Less: Provision for
current tax |
300.00 |
|
190.00 |
|
| Provision for
deferred tax |
2.66 |
|
55.36 |
|
| Income Tax
relating to earlier Years |
36.07 |
(338.73) |
21.03 |
(266.39) |
| Profit after tax |
|
726.16 |
|
590.72 |
| Add: |
|
|
3755.94 |
|
| Profit brought
forward from previous year |
4358.56 |
|
|
|
| Other
Comprehensive Income |
10.21 |
4368.77 |
11.92 |
3767.86 |
| Profit available for
appropriation |
5094.93 |
|
4358.59 |
|
NOTE: Figures of the previous year have been re-grouped/re-arranged in
order to make them comparable.
1. DIVIDEND AND RESERVES:
The Board of Directors of your Company take pleasure to recommend a
dividend of Rs. 0.05(5%) per equity shares of Re. 1 /each for the year ended 31 st March,
2025.subject to approval of shareh olders at the ensuing Annual General Meeting. The
dividend if approved shall result in a payout of 9.14 % current year profit available for
appropriation. This makes the management investor friendly and creates more confidence to
keep the investors interest at heart.
2. EXTRACTOF ANNUAL RETURN:
The extract of Annual Return as provided under sub-section (3) of
section 92 of the Companies Act, 2013 ( ‘the Act') in prescribed form MGT-9 is uploaded on www
.supertannery.com.
3. OPERATIONAL REVIEW:
During the year under review, the income from operation(Turnover) of
the company was Rs 28,614.20 lacs as against Rs 22,902.91 lacs during the last financial
year, shows improvement in the operational income by Rs. 51,517.11 lacs. The company
overall growth is satisfactory despite recession in the market.
4. PRESENTATION OF FINANCIAL STATEMENTS:
The Financial Statements of the Company for the year ended 31 st March
2025 have been disclosed as per Division 11 of Schedule III to the Act.
5. SUBSIDIARY COMPANIES:
The Company has SEVEN Subsidiaries namely:
• Super Corporation Limited
• Aarifi Tanners Limited
• Secure Safety Limited
• Super Tannery (UK) Limited
• Super Italia S.R.L
• HX London Fashion Private
Limited
• Pioneer Investment FZNO
The Financial statement including Consolidated Financial statement and
separate statement in respect of each of its subsidiaries have also been placed on the
website of the Company. A statement containing salient feature of the Financial Statement
of subsidiaries/associates companies is forming part of Annual Financial Statement. The
Annual Accounts of the subsidiary companies will be kept open for inspection by any
investor at the head office of the company and the subsidiary concerned.
6. INDUSTRIAL RELATIONS:
During the period industrial relations have been extremely cordial.
Employees cooperation and co-ordination had been an important factor in the growth of the
organization.
7. EXPORT AWARD:
The Company received the State Export Award -Uttar Pradesh for the
overall export performance during the year 2021 -2022 from the Hon'ble Chief Minister Yogi
Adityanath.
8. FIXED DEPOSITS:
The Company has not accepted/renewed any deposit during the year under
review, under the provisions of the Companies Act, 2013 and the rules framed there under.
9. CREDIT RATING:
During the year under review Care Rating Limited reaffirmed the
long-term rating of BBB on the bank borrowing of the Company.
10. HUMAN RESOURCES MANAGEMENT:
Employees are vital to the Company. We have created a favorable work
environment that encourages humble relationship. We have also set up a scalable
recruitment and human resources management process, which enables us to attract and retain
high caliber employees. The Company also has started with collaboration of UP Leather
Industries Association a training center for recruiting trained labors.
11. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMAN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL ACT, 2013:
Your company strongly believes in providing a safe and harassment free
workplace for each and every individual working for the Company through various
intervention and practices. It is the continuous endeavor of the Management of the Company
to create and provide an environment to all its employees that is free from discrimination
and harassment including sexual harassment.
During the year ended 31st March, 2025 no complaint pertaining to
sexual harassment was received by the Company.
12. PARTICULARS OF EMPLOYEES :
There were 550 employees with the company as at on 31 ” March, 2025.
The percentage increase in remuneration of each Director and Key Managerial Personnel
(KMP) to the median of employees remuneration and the list of top 10 employees in terms of
remuneration drawn as required under Section 197(12) of the Companies Act, 2013 read with
Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
form part of Annexure II to this Board Report.
13. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, AND FOREIGN EXCHANGE
EARNING & OUTGO:
The particulars of Energy Conservation, Technology Absorption etc.
pursuant to Section 134(3) (m) of the Companies Act, 2013, read with Rule 8 of the
Companies (Accounts) Rules, 2014 are set out in the Annexure forming part of this Report.
14. SIGNIFICANT AND MATERIAL ORDERS PASSED BYTHE REGULATORS OR COURTS
OR TRIBUNALS:
No significant or material orders were passed by the Regulators or
Courts or Tribunals during the previous year which may impact the going concern status of
the Company's Operation in the future.
15. CHANGE IN THE NATURE OF BUSINESS:
There is no change in the nature of business during the financial year.
16. MATERIAL CHANGES AND COMMITMENTS:
The company do not have any material changes and commitments in the
company between the end of the financial year and date of report.
17. WHISTLE BLOWER POLICY/VIGIL MECHANISM:
To create enduring value for all stakeholders and ensure the highest
level of honesty, and ethical behavior in all its operations, the Company has formulated a
Vigil Mechanism named as SUPER Whistle Blower Policy' in addition to the existing code of
conduct that governs the action of its employees. This Whistleblower policy aspires to
encourage all employees to report suspected or actual occurrence(s) of illegal. Unethical
or inappropriate events (behaviors or practices) that effect Company 's
interest/image. A copy of the Policy is available on the website of the Company and may be
accessed through the web link www:htpp;//supertannery.com
18. DIRECTORS &KMP:
In terms of Article 125 of the Articles of Association of the Company,
Mr. Veqarul Amin and Mr. Yogendra Singh Katiyar , Directors of the Company retire by
rotation at the ensuing Annual General Meeting and being eligible, offers himself for his
re-appointment. Brief resume of all the Directors, their expertise in specific functional
areas and names of other companies in which directorship held and the membership of
committee of the Board as stipulated under the listing Agreement are given in corporate
governance annexure, attached to this report.
19. DECLARATION BY INDEPENDENT DIRECTORS:
The Company has received declaration from all the Independent Directors
of the Company confirming that they meet with the criteria of independence as prescribed
under sub-section (6) of section 149 of the Companies Act, 2013.
20. POLICY ON DIRECTORS 'APPOINTMENT AND REMUNERATION:
For the purpose of selection of any Director, the Nomination &
Remuneration Committee identifies persons of integrity who posses' relevant expertise,
experience and leadership qualities required for the position and also takes into
consideration recommendation, if any received from any member of the Board. The Committee
also ensures that the incumbent fulfills such other criteria with regard to age and other
qualifications as laid down under the Companies Act, 2013 or other applicable laws.
The Board has, on the recommendation of the Nomination &
Remuneration Committee framed a policy for selection, appointment and remuneration of
Directors & Senior Management.
The Remuneration Policy of the Company is disclosed in the Corporate
Governance Report, which forms a part of the report.
21. FAMILIARISATION PROGRAMME FOR THE INDEPENDENT DIRECTORS:
In compliance with the requirements of Regulation 27 of the listing
Agreement, the Company has put in place a Familiarization Programme for the Independent
Directors to familiarize them with the Company, their roles rights responsibilities in the
Company, nature of the Company in which Company operates, business model etc.
22. MEETING OF INDEPENDENT DIRECTORS:
The Independent Directors met once during the Financial Year pursuant
to the provisions of Regulation 25 of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 and Schedule IV to the
Companies Act, 2013. The Meeting of the Independent Directors was conducted without the
presence of the Chairman, other Non-Independent Directors and the Management team of the
Company.
23. NUMBER OF MEETINGS OF THE BOARD:
During the financial year seven board meetings were held in accordance
with the applicable provisions.
24. COMMITTEES OF THE BOARD:
• Audit Committee
• Nomination and Remuneration
Committee
• Stakeholder Relationship
Committee
• Investor's Grievances
Committee
• Corporate Social
Responsibility Committee
25. SECRETARIAL STANDARDS:
The Company has complied with the requirements prescribed under the
Secretarial Standards on:
• Meetings of the Board of
Directors (SS-1)
• General Meetings (SS-2)
• Declaration of Dividend
(SS-3)
• Report on Board of Directors
(SS-4).
26. PERFORMANCE EVALUATION OF THE BOARD COMMITTEE AND DIRECTORS:
The Company conducted the annual performance evaluation of the board,
its various Committees and the directors individually. The performance of the board was
evaluated by the board after seeking inputs from all the directors.
27. REPORT ON CORPORATE GOVERNANCE:
Pursuant to Regulation 27 of the Listing Agreement, a report on
Corporate Governance is given in Annexure to this report.
28. INTERNALFINANCIALCONTROLS:
The Board has laid down policies and processes in respect of internal
financial controls and such internal financial controls were adequate and were operating
effectively. The internal financial controls covered the policies and procedures adopted
by your Company for ensuring orderly and efficient conduct of business including adherence
to your Company's policies, safeguarding of the assets of your company, prevention and
detection of fraud and errors, accuracy and completeness of accounting records and timely
preparation of reliable financial information.
29. DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to the requirement under Section 134(5) read with Section
134(3) (c) of the Companies Act, 2013 with respect to Directors' Responsibility Statement,
it is hereby confirmed:
(i) That in the preparation of the annual accounts for the financial
year ended 31 st March. 2025 the applicable accounting standards have been followed along
with proper explanation relating to material departures;
(ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were reasonable and
prudent so as to give a true and fair view of the state of affairs of the Company at the
end of the financial year and of the profit or loss of the Company for that period:
(iii) That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the provisions of the
Companies Act, 2013 for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
(iv) That the Directors have prepared the accounts for the financial
year ended 31st March. 2025 on a going concern basis.
(v) Senior management on the basis of criteria such as the board
composition and structure, effectiveness of board processes, information and functioning,
etc. Board is being involved and briefed on all important issues. Very high levels of
engagement were observed and the opinions of each other were respected.
30. PARTICULARS REQUIRED AS PER SECTION 134 OF THE COMPANIES ACT,2013:
As per Section 134 of the Act. your Company has provided the
Consolidated Financial Statements as on March 31, 2025. Your Directors believe that the
consolidated financial statements present a more comprehensive picture as compared to
standalone financial statements. These documents will also be available for inspection
during the business hours at the Registered Office of your Company and the respective
subsidiary companies. A statement showing financial highlights of the subsidiary companies
is enclosed to the consolidated financial statements.
31. CONSOLIDATED FINANCIAL STATEMENTS:
In accordance with Accounting Standard AS-21 on Consolidated Financial
Statements, your directors have pleasure in attaching the Consolidated Financial
Statements which form part of Annual Reports and Accounts. These consolidated financial
statements include accounts of Super Tannery (U.K.) Limited, Aarifi
Tanners Limited, Super Corporation Limited Secure Safety Limited, Super
Italia S.R.L, HX London Fashions Private Limited and Pioneer Investment FZCO.
32. STATUTORY AUDITORS:
M/s. Kapoor Tandon & Company Chartered Accountants, Kanpur
(Registration No: 000952C) statutory auditor have been re-appointed at the Annual General
Meeting in accordance of the provisions of the Companies Act. 2013.
33. COST AUDITOR:
As requires under the Companies (Cost Accounting Records) Rules 2011,
the requirement of Cost Audit report does not applicable to the Company as per MCA
circular. Hence no report was filed.
34. SECRETARIAL AUDITORS:
Pursuant to the provisions of Section 204 of the Companies Act. 2013
and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the
Company has appointed M/S K.N Shridhar & Associates, Company Secretary Kanpur to
undertake the Secretarial Audit of the Company.
The Secretarial Audit Report is annexed herewith as "annexure
B"
35. INTERNAL AUDITOR:
M/s R.K Dhar is been appointed as the Internal Auditor of the Company
in accordance with the Companies Act, 2013.
36. QUALIFICATION, RESERVATION OR ADVERSE REMARK:
The Audit Report and the Secretarial Audit Report for the financial
year 2024-25 does not contain any qualification, reservation or adverse remark by the
Auditors.
37. LOANS, GUARANTEES & INVESTMENTS:
The particulars of loans, guarantees and investments have been
disclosed in the financial statements.
38. RELATED PARTY TRANSACTIONS:
The policy on Related Party Transactions as approved by the Board is
available on the website of the Company www.supertannery.com.
All contracts/arrangements entered by the Company during the previous
financ ial year with the related parties were in the ordinary course of business and on
arm's length basis. The Audit Committee and the Board of Directors reviewed the
transactions (which are repetitive in nature) and the Audit Committee granted approval for
such transactions.
The disclosures as required under AS-18 have been made in notes forming
part of the standalone financial statement. The particulars of contracts or arrangements
entered in to by the company with related parties referred to in subsection (1) of Section
188 of the Companies Act, 2013 has been disclosed in Form No.AOC-2 which is annexed
hereto.
39. AUDITORS'REPORT:
The comments of the Auditors in their Audit Report and reference to “Notes on
Accounts” forming part of the Financial Results are self.
40. FRAUD REPORTING
During the year under review no instances of fraud were reported by the
Statutory Auditors of the Company.
41. LISTING FEES:
Your Company has paid requisite Annual Listing Fees to BSE Limited
(BSE) the Stock Exchange where its securities are listed.
42. DEPOSITORY SYSTEM:
Your Company's Equity Shares are available for dematerialization
through National Securities Depository Limited (NSDL) and Central Depository Services
(India) Limited (CDSL). The ISIN Number of your Company for both NSDL and
CDSLislNE460D01038.
SUPER TANNERY LIMITED= —
ACKNOWLEDGMENT:
Your directors would like to express their gratitude and appreciation
for the continued support and co-operation received from State Bank of India, Central
& State Government Authorities, Regulatory Bodies, Stock Exchanges and Shareholders.
Your directors wish to place their deep sense of appreciation on record for the devoted
services of the officers, staff and workers of the Company.
On behalf of the Boa rd of Directors
Place: KANPUR IFTIKHARULAMIN MOHD.IMRAN
Date: 13.08.2025 Managing Director Whole Time Director
DIN:00037424 DIN:00037627
ANNEXURE I TO THE DIRECTORS' REPORT
Statement as required under Section 134(3)(m) of the Companies Act,
2013, read with Rule 8 of the Companies(Accounts) Rules.2014.
(a) CONSERVATION OF ENERGY:
(1) Energy conservation measures taken:
Up gradation of power generation and distribution systems for long term
energy savings. Special emphasis has been laid on boiler and steam generation.
(2) Additional investments and proposal, if any, being implemented for
reduction of consumption of energy: Introduction of energy saving devices and systems in
process machines.
(3) Impact of the measures at (1) & (2) above for the reduction of
energy consumption and consequent impact on the cost of production of goods:
Energy conservation measures have helped in generation of required
quantity of steam at a minimum cost which resulted in improving efficiencies and reduction
in costs.
(4) Total energy consumption and energy consumption per unit of
production as per Form A of the Annexure in respect of industries specified in the
Schedule thereto:
NotApplicable
(b) TECHNOLOGY ABSORPTION: RESEARCH AND DEVELOPMENT (R & D):
(1) Specific area in which R & D carried out by the Company:
(a) New product development based on different raw hides/skins.
(b) Apart from production of safety footwear establishing standard
products for fashion shoes/sandals.
(2 Benefits derived as a result of the above R & D:
(a) Cost reduction and better unit realization.
(b) Better product acceptance.
(3) Future plan of action: To continue to invest in R & D for
faster introduction of new products.
| (4) Expenditure on
R& D: |
2024-25 |
2023-24 |
|
(Rs.
in lacs) |
(Rs.
in lacs) |
| (a) Capital |
0000 |
0000 |
| (b) Recurring |
1.88 |
2.18 |
| (c) Total |
1.88 |
2.18 |
| (d) Total R & D
Expenditure as % of turnover |
0.00% |
0.01% |
Technology Absorption, Adoption And Innovation:
(1) Efforts, in brief, made towards technology absorption, adoption and
innovation: The Company is using indigenous technology and is developing in house
technology and is not dependent on any outside technology / source.
(2) Benefits derived as a result of the above efforts: NotApplicable
(3) Incase of imported technology (Imported during the last 5 years
reckoned from the beginning of the financial year):
(a) Technology imported }
(b) Year of import } Not Applicable
(c) Has technology been fully absorbed? }
(d) If not fully absorbed, areas where not taken place, } reasons
therefore and future plan of action
(c) FOREIGN EXCHANGE EARNINGS & OUTGO:
(1) Activities relating to exports, initiative taken to increase
exports, development of new export markets or products and export plans:
On Export front, Company's performance is quite satisfactory and it is
expected to be strong in the time to
| come. (2) Total
foreign exchange earned & used: |
2024-25
(Rsin lacs) |
2023-24
(Rsin lacs) |
| (a) Foreign exchange
earned (FOB value of exports) used |
23,129.66 |
17,072.90 |
| (b) Foreign
exchange used |
4726.14 |
2,693.28 |
(d) STATEMENT OF PARTICULARS OF MANAGING AND JOINT MANAGING DIRECTORS
FORMING PART OF THE DIRECTORS' REPORT:
| Name |
Designation |
Gross
Remuneration |
Qualification |
Experience
(Years) |
Date
of
Commencement of employment |
Age
(Years) |
Particulars
of previous employmen |
| Mr. Iftikharul
Amin |
Managing
Director |
Rs.
24,00,000.00 |
Post
Graduate |
39 |
06.02.1984 |
66 |
Promoter |
| Mr. Iqbal
Ahsan |
Jt.
Managing Director |
Rs.
24,00,000.00 |
Graduate |
35 |
21.12.1988 |
63 |
Promoter |
Notes:
1. Mr. Iftikharul Amin and Mr. Iqbal Ahsan being brothers are related
to each other within the meaning of schedule lAof Companies Act. 2013.
2. Remuneration includes salary and perquisites as per rules of the
company and recorded under the Income Tax Act. 1961.
On behalf of the Boa rd of Directors
Place: KANPUR Date: 13.08.2025
IFTIKHARUL AMIN
Managing Director DIN:00037424
MOHD.IMRAN
Whole Time Director DIN:00037627
|