Super Tannery Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

24. Provisions, Contingent liabilities and Capital Commitments

Provisions are recognized when there is a present obligati on (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are reviewed at each balance sheet date and are adjusted to reflect the current best estimate.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability, When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

Contingent liabilities are possible obligations whose existence will only be confirmed by future events not wholly within the control of the Company, or present obligations where it is not probable that an outflow of resources will be required, or the amount of the obligation cannot be measured with sufficient reliability, I nforma ti o n on conti ngent I i a b i I ity i s d isciosed i n the Notes to the F i nan cia I State ments.

Contingent assets are not recognised but disclosed when the inflow of economic benefits is probable, However, when the realisation of income is virtually certain, then the related asset is no longer a contingent asset, but it is recognised as an asset.

25. Government Grant

Government grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with,

A government grant that becomes receivable as compensation for expenses or losses incurred in previous period! s). Such a grant is recognised in profit or loss of the period in which it becomes receivable,

Government grants shall be recognised in profit or loss on a systematic basis over the periods in which the Company recognises as expenses the related costs for which the grants are intended to compensate, Government grants related to assets are presented in the balance sheet as deferred income and is recognised in profit or loss on a systematic basis over the expected useful life of the related assets or other relevant basis. Government grants by way of financial assistance on the basis of certain qualifying criteria are recognised as theybecomereceivable,

in the unlikely event that a grant previously recognised is ultimately not received, it is treated as a change in estimate and the amount cumulatively recognised is expensed in the Statement of Profit and Loss.

26. Revenue Recognition Sale of Goods and services

Revenue is recognised upon transfer of control of promised goods to customers in an amount that reflects the consideration which the Company expects to receive in exchange for those goods.

Revenue from the sale of goods is recognised at the point in time when (a) control is transferred to the customer, which is mainly upon delivery in case of domestic sates and on issuance of Shipping Sill in case of export sales.

Revenue is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of returns, rebates and discounts to customers,

Revenue from the sate of goods excludes amounts collected on behalf of third parties, such as Goods & Services Tax (GST),

Interest Income

interest income is accrued on using on a time basis by the effective interest rate with reference to the principal outstanding.

Dividend Income

Dividend income from investments is recognised when the shareholder''s right to receive payment has been established.

Export Incentives

E x port I ncen ti ves a re recogn i sed when ce rta i nty cf recei pt i s establish ed.

Insurance Claim

Insurance claims are accounted for on the basis of claims admitted / expected to be admitted and to the extent that the amount recoverable can be measured retiabiy and it is reasonable to expect ultimate collection.

Other Income

Other income is accounted for on accrual basis except where the receipt of income is uncertain and in such case it is accounted for on receipt basis.

27. Employee Benefits

The Company makes contributions to both defined benefit and defined contribution schemes which are mainly administered through/by duly constituted and approved Trusts and the Government.

Defined Contribution Scheme

In case of provident fund administered through Regional Provident Fund Commissioner, the Company has no obligation, other than the contribution payable to the provident fund,

in case of members of constituted and approved trusts, the Company recognises contribution payable to such trusts as an expense including any shortfall in interest between the amount of interest realised by the investment and the interest payable to members at I he rate declared by the Government of India.

The Company''s contributions paid i payable during the year to provident fund administered through Approved Trust, Regional Provident Fund Commissioner, Superannuation Fund and Employees'' State insurance Corporation are recognised in the Statement of Profit and Loss as an expense when empioyees have rendered services entitling them to contributions.

Defined Benefit Scheme

Gratuity: Cost of providing the Benefit is determined on an actuarial basis at the end of the year and charged to Statement of Profit and Loss. The cost of providing these benefits is determined by independent actuary using the projected unit credit method.

Re-measurements, comprising of actuarial gains and losses and the effect of the asset ceiling, (excluding amounts included in net interest on the net defined benefit liability and return on plan assets), are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through other comprehensive income in the period in which they occur, It is included in retained earnings In the statement of changes in equity and in the balance sheet.

Leave encashment: Leave balance as at the end of the calendar year is encashed and balance leaves earned thereaftertotheextentnotavailedbytheemployeesareprovidedintheaccounts.

28. Research and Development Expenditure

Expenditure on research of revenue nature is charged to Statement of Profit and Loss and that of capital nature

is capitalized as fixed assets.

29. Taxes on Income

Current tax is the amount of tax payable determined in accordance with the applicable tax rates and provisions of the income Tax Act, 1961 and other applicable tax laws.

Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the Balance sheet and the corresponding tax bases used in the computation of taxable profit and are accounted for using the liability method. Deferred lax liabilities are generally recognised for all taxable temporary differences, and deferred tax assets are generally recognized for all deductible temporary differences, carry forward tax losses and allowances to the extent that it is probable that future taxable profits will be available against which those deductible temporary differences, carry forward tax losses and allowances can be utilised. Deferred tax assets and liabilities are measured at the applicable tax rates. Deferred tax assets and deferred tax liabilities are off set, and presented as net.

Current and deferred taxes relating to items directly recognised in reserves are recognised in reserves and not in the Statement of Profit and Loss.

Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future economic benefits in the form of adjustment to future income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax. Accordingly, MAT is recognised as an deferred tax asset in the Balance Sheet when it is probable that future economic benefit associated with it will flow to the Company.

30. Dividend Distribution

Dividends paid (including income tax thereon) is recognised in the period in which the interim dividends are approved by the Board of Directors, or in respect of the final dividend when approved by shareholders.

31. Cash Flow Statement

Cash flows statement is prepared as per the Indirect Method specified in Ind AS 7 on Cash Flows. Cash and cash equivalents (including bank balances) shown in statement of cash flows exclude item which are not a vailabf e fo r genera I u se on the dale of bala nee shee l.

32. Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post-tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit i (loss) after tax (Including the post-tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.

Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease the net profit per share from continuing ordinary operations. Potential diiutive equity shares are deemed to be converted as at the beginning of the period, unless they have been issued at a later date. The dilutive potential equity shares are adjusted for the proceeds receivable had the shares been actually issued at fair value (i.e. average market value of the outstanding shares). Dilutive potential equity shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity shares are ad j usted for share splits / re verse sha re splits an d bonu s sh ares, a s a ppropri ate.

33. Segment Reporting

Operating segments are reported in consistent manner with the internal reporting provided to the Chief Operating Decision Maker (CODM) of the Company. The CODM is responsible for allocating resources and assessing performance of the Company.

34. Rece rvt I nd I a n Acco unting Stands rd (In d AS}

Effective 1 si April 2023, the Company has adopted the amendments vide Companies (Indian Accounting Standards) Amendment Rules, 2023 notifying amendments to existing Indian Accounting Standards. These amendments to the extent relevant to the Company''s operations were relating to: Ind AS 1 “Presentation of Financial Statements" which replaces the requirement for the entities to disclose their “significant" accounting policies with a requirement to disclose their "materia!" accounting policies and further provides guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments clarify that accounting policy information is expected to be material if, without it, the user of financial statements would be unable to understand other material information in the financial statements and aiso clarify that immaterial accounting policy Information need not to be disclosed, however, if it is disclosed, it should not obscure the material accounting policy information. Further, consequential amendments with respect to the concept of ''material accounting policies'' have also been made in Ind AS 107 "Financial Instruments: Disclosures" and Ind AS 34 "Interim Financial Reporting", The Company has modified and presented its "material accounting policies" in the financial statement for the year commencing from April l. 2023 in compliance with the amendments made."

Ind AS 8 "Accounting Policies, Changes in Accounting Estimates and Errors''" which introduces a definition of "accounting estimates” and provides guidance to help entities to distinguish changes in accounting policies from changes in accounting estimates. The amendments do nol have a material impact on the Company.

ind AS 12 "Income Taxes" narrows the scope of the initial recognition exemption'' so that it does not apply to transactions that give rise to equal and offsetting temporary differences on its initial recognition. The amendments apply to the transactions that occur on or after the beginning of the earliest comparative period presented in the annual reporting periods beginning on or after April 1.2023. In addition, at the beg inning of the earliest reporting period presented deferred tax on all the temporary differences associated with Right-of- use asset and lease liabilities; decommissioning, restoration and similar liability and the corresponding amounts recognized as pari of the cost of the related assets shall also require lo be recognized as an adjustment to the opening balance of retained earnings. The amendments do not have any material impact on the Company as it has already been following accounting policy of recognizing deferred tax on equal and offsetting temporary differences on initial recognition of lease transactions.

There are other amendments in various standards, including Ind AS 101 “First Time Adoption if Indian Accounting Standards"; ind AS 102 "Share-based Payment"; Ind AS 103 "Business Combination"; ind AS 109 “Financial Instruments"; and Ind AS 115 “Revenue from Contracts with Customers" which are notiisted herein above since these are either nol material or relevant to the Company,

Ministry of Corporate Affairs ("MCA ") notifies new standard or amendments to the existing standards. There is no such notification which would have been applicable from April 1,2024.

Fair value raenMirnrncnla rccocnrzeii in she ImLiekc shed:

The following whk provide* W malys# pffin*iK»ll iiKimmcncs urn nre menwej jo iiliiuJ recofnmnci ui £kir vn|i#e, grouped mill Lcuetf I irv I

based -.''in the degree In which the fair value is ohservnhle,

-Lswl I I''hif >ihw nufakwrefnenr* wer forte derived from cp*ried prive* (ua*

-Level 3 (hir wine rnemurarocnr* we foo« derived, flnm inpu*? orther tKin quoted prices jptluifcd within Level L Hint we ofcicrviibte for the asset >*ir luhil iry,

ciilicr directly ii.c. iui prices) cc indirectly (i.c. derived cram prices).

-L«d 3 liilr value iiBawreinenB we ihoae derived Ihusrt VBluwtlc«i techniques Ibsti Irwhttlc anpw* for foe Hwaiir lUbifciljr Hurt we uui fyiud vm obicrvafete

The L''nrnpnn;. s principal financial liabilities comprise oflunn from banks end lunuidnl instillation*. and unde payables. The mam purpose orthese financial liabilities is hi raise finance ftrr die Company''s npcrUioeii. The C cun piny lias various financial assets :such as trade rcccnahlcL cash mid. short lerm deposits,

The main recks ansiug from Company''s linancinl inMnnneon. are foreign ennetkey risk, credii risk, market risk, imcrevi rue nsk and liquidity risk. The Bonrd erf Directors review mil agree policies for managing each ofthesc risls.

4a} Credit risk

Credit risk ia tltc rak i>rfli»aftd«l Iraaiofbc Catqpuy t f a euMuater nr counterpArty to • financial Inaniuml (nih to nwcL Kb canbiflchnl obligHloM. and *mcs prlncifiisIK from the Company''s 1rwlc nmj fither receivable*, e*sh and ewh ei|uivuieniv mul other hunk tulunctf. The uuittimuni «tpon«tti credit ritk, m ente of all the finnncuJ instrument; revered bekiw ts re.onercd ir- tliei-r respective carrying arnnum

ibl Marker nak.

Mmkel Risk is the risk Ihnl Ihc liiar vaJue ue liilurrcaxh flows oFa financial inslujnTiuiit will fluctuate becauseol''changes ai trinket prices-. Mariri risk loi uprises ihrCc type* nf risk CUffHWy twk. ifiGGKH rt*t risk And praw mk

111 Inreigu euiTCBpcy nsk

The Cfliiqinny w exposed to currency risk on account iT ids opetaxing And financing eei is iries. Fhc InmciMinal currency of ihc C''nmpnny l-, Undom Rupee. Company''s exposure is mainly dcnrmii rated in USD, OBP and Euro. The exchange mini have changed subslannslJy eji recent periods and may continue to fluctuate xuhsiatiliiilty ill (lie future The Lump tiny bus pul In place * financial Risk Management Policy hi Identify llie BUM efleclive and uflkrcnl ways of fntitMJpng (he cutHACy Hite: Tlitf Company MCi dfflVffli i-xr instruments (rYifilll ly fcrdgri e-.tctafljjc Isms aid tXirilM£ta> lLP (tnJigatc (lie risk Of tliuiiHL-b III fwfflfn ewwos* eselwnfc rate

The Company do not use derivative financial instruments For trading nr spmilniivr purposes.

4 111 IntcfCM /aw risk

Interval rale risk a measured by using llw cask) How ssen trimly fur changes in variable ml cm I rales Any nno euscnl m I be re Iltcbcc rates could have an impact I''ll (he CiittflfiBny''i Sie.li IkiW&as well asvnsta, 11k Company kite Hits-a nm of iiHvicsl hits: sensitive finances I lisatrUnifinlH lo nuUiafitrlhC iHjuidiry md fund require modi ibr ita tiny m day operntiem like dwrt-*enn Iomis-

hilcml rale sensitivity ftnnlyjjs:

As at March 3f, 20(24 interest bracing financial lxaliitity i secured loan From hanksj stood as Rs m Lars 7£3&j04 Lees, was subject Id variable interest rales. iB-iLTcasc sIrcrcaic ol''Sfl Isisis points in mlerril rates at the balance sheet dale would result in decrease incrra.se in profit bclcre UAtif Rjs. hi Lacs 39. IS Lars.

Die risk crihruiLes provided assumt a parallel shi li of 5fl basis pnous iiUereri rale. This calculation nisei assumes. iIi.il the change occurs m (lie hakince shcci ikiro and hast been calculated based an nsk exposwes nuns landing at at rhal dare The pen Lid end balances ore not necessarily representative nf Ibe average debt outstanding during Ihc period

Hair wine nf (lnfliKMl iBstrainenis;

All Financial assets arc initially n.H.xigmz®d nl fair value of can side radian pukl. Subsequently, financial assets arc earned at bur value or am Dili,red cost less iiliphIn ten I When; twit - derivative financial assCta arc carried a! Hut value, gams and lusiUs on rv- iiKasurvnicnL arc i v-oagm^cd directly In cifuity unless Ihr UnRudfll mkibImvc: been ijadjaued as bcwiRbdd u( fair wslue ihreoiah profit or loss, m which enw dw^iiH nod kh*« ore restofnlzcd diiealy in lhe-ffliindalmte rinlemepl of profit fad lots: Fjrumcinl ussat arc dedgnuieii as hcir.g |ieM art fair vnUte (itniugh profit or loss wb(* it it swec^Ary sr. reduce mensuTcmcm vncnnxisiuncy lor Tciated rusets and liabilities. All Tixiaaicinl liabilities other ihui derivatives are inilully roeognired ad tair value oreonskieratiiiQ •received nd orcrasisanion cuxts as appropdxki 1 in rliai coslk and subse 13001 iiy carried at. amiictized cosa.

(Till Liquidity risk:

Flic Cwipiny fallows, a OwBefwtiM policy mf erwrioft Miffidcni iitniidJiy ui all times ihmuifJt a ^mueny ffiFpfofiiabfc jErowih, efftciem liqndity »¦ all tunes through a strategy nJ'' pco fit able pr.ivib. cfFiciena vi eefcing capital mnnaueircrn .it well ue prudent opilal £vpenilnuee. The L Limpany hut a ovenlralL ianlily with banks 1u suppuil any temporABy funding requirements.

Tlic Ciiinpany I''cLicvrs that cunml cash mid cash uquivAlenta, Lied up b>jmvi>.''irig him and cash flow that is generated liven efieratintis is su Ificient Id meet nMfalirefttnriL Accoadm^y, liquidity risk u pcfctivvd n> b* hr*

Liquiiiiiy table:

I ii^iii! iiy cables drawn up hAtpd on the eadj ||iim of fiiuiKiil lubibises based un the tuiiect date on v. Iiseb the Cofnpam'' can be required te pay 4* it|te|os«id ui Note mi. 49.

$V)C*hwpn« n*:

The L''i*frtpnn> Is fuH rXp.isCd to un> tagnrlkunt equity pnee reiks arising bum cq«iry invesSinciXs. ai on 31 st Maivli 2fl24. Equity ins erfmciKs aiv held Cot tireldw ™nici than uniio* ti^tpoKii- The Ceowniy *xs m.ti Miivdv inde Hvoe fa^''SHiHMik

fVTt ijqtwly pFiuc srftsifivny atuilysai:

There is nn exposure to equity price nsks as it the icporiing date or as at chc pre, 10us reporting dale

51 Flfgrof or th* pratfoug year bflMrt regroypadAfrarraojtfd wtwwier in wrtar 10 mak* tNm nomparaljlo •mil,li ihos* or fw««rti y*ar Ffcw*** Po-jh Iihhii

rounded nH to the nearest injpees m ucs

As par our atUchad rtpon of nu date For and on benart of the Board

For Kaooor Tandnn & Co.

Chartered Jftccnurtiants F#m Ihgl&tm nn No. 4HH1BB2C

Wohd. Imran Iftikharul Arran

Dine tor {Finance} £ CFG M actor

Drvyank H*am DdN:«HB?6a ?

Partner M.«la.4U449 Place. Kanpur

Oats: 3M5-iflM ft it. Awnstrti

Qsmpa&y Saorwery

---

Mar 31, 2023

24. Provisions, Contingent liabilities and Capital Commitments

Provisions are recognized when there is a presen t obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are reviewed at each balance sheet date and are adjusted to reflect the current best estimate.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

Contingent liabilities are possible obligations whose existence will only be confirmed by future events not wholly within the control of the Company, or present obligations where it is not probable that an outflow of resources will be required, or the amount of the obligation cannot be measured with sufficient reliability. Information on contingent liability is disclosed in the Notes to the Financial Statements.

Contingent assets are notrecognised but disclosed when the inflow of economic benefits is probable. However, when the realisation of income is virtually certain, then the related asset is no longer a contingent asset, but it is recognised as an asset.

25. Government Grant

Government grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions will be complied with.

A government grant that becomes receivable as compensation for expenses or losses incurred in previous period(s). Such a grant is recognised in profit or loss of the period in which it becomes receivable.

Government grants shall be recognised in profit or loss on a systematic basis over the periods in which the Company recognises as expenses the related costs for which the grants are intended to compensate.

Government grants related to assets are presented in the balance sheet as deferred income and is recognised in profit or loss on a systematic basis over the expected useful life of the related assets or other relevant basis.

Government grants by way of financial assistance on the basis of certain qualifying criteria are recognised as they become receivable.

In the unlikely event that a grant previously recognised is ultimately not received, it is treated as a change in estimate and the amount cumulatively recognised is expensed in the Statement of Profit and Loss.

26. Revenue Recognition Sale of Goods and services

Revenue is recognised upon transfer of control ofpromised goods to customers in an amount thatreflects the consideration which the Companyexpectsto receive in exchange for those goods.

Revenue from the sale of goods is recognised atthe point in time when (a) control is transferred to thecustomer. which is mainly upon delivery in case of domestic sales and on issuance of Shipping Bill in case of export sales.

Revenue is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of returns, rebates and discounts to customers.

Revenue from the sale of goods excludes amounts collected on behalf of third parties, such as Goods & Services Tax (GST).

Interest Income

Interest income is accrued on using on a time basis by the effective interest rate with reference to the principal outstanding

Dividend Income

Dividend income from investments is recognised when the shareholder''s right to receive payment has been established.

Export Incentives

Export Incentives are recognised when certainty of receipt is established.

Insurance Claim

Insurance claims are accounted for on the basis of claims admitted / expected to be admitted and to the extent that the amount recoverable can be measured reliably and it is reasonable to expect ultimate collection.

Other Income

O ther income is accounted for on accrual basis except where the receipt of income is uncertain and in such case it is accounted for on receipt basis.

27. Employee benefits

The Company makes contributions to both defined benefit and defined contribution schemes which are mainly administered through/by duly constituted and approved Trusts and the Government.

Defined Contribution Scheme

In case of provident fund administered throughRegional Provident Fund Commissioner, the Company has no obligation, other thanthe contribution payable to the providentfund.

In case of members of constituted and approved trusts, the Company recognises contribution payable to such trusts as an expense including any shortfall in interest between the amount of interest realised by the investment and the interest payable to members at the rate declared by the Government of India.

The Company''s contributionspaid / payable during the year to providentfund administered through Approved Trust. Regional ProvidentFund Commissioner, Superannuation Fundand Employees'' State Insurance Corporationare recognised in the Statement of Profit andLoss as an expense when employees haverendered services enti tling them to contributions

Defined Benefit Scheme

Gratuity: Cost of providing the Benefit is determined on an actuarial basis at the endof the year and charged to Statement of Profitand Loss. The cost of providing these benefitsis determined by independent actuary using the projected unit creditmethod.

Re-measurements, comprising of actuarial gainsand losses and the effect of the asset ceiling,(excluding amounts included in net interest onthe net defined benefit liability and return on planassets), are recognised immediately in the balancesheet with a corresponding debit or credit toretained earnings through other comprehensiveincome in the period in which they occur. It isincluded in retained earnings in the statement ofchanges in equity and in the balance sheet.

Leave encashment: Leave balance as at the end of the calendaryearis encashed and balance leaves earned thereafter to the extent not availed by the employees are provided in the accounts.

28. Research and Development Expenditure

Expenditure on research of revenue nature is charged to Statement of Profit and Loss and that of capital nature is capitalized as fixed assets.

29. Taxes on Income

Current tax is the amount of tax payable determined in accordance with the applicable tax rates and provisions of the Income TaxAct, 1961 and other applicable tax laws.

Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the Balance sheet and the corresponding tax bases used in the computation of taxable profit and are accounted for using the liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences, and deferred tax assets are generally recognized for all deductible temporary differences, carryforward tax losses and allowances to the extent that it is probable that future taxable profits will be available against which those deductible temporary differences, carry forward tax losses and allowances can be utilised. Deferred tax assets and liabilities are measured at the applicable tax rates. Deferred tax assets and deferred tax liabilities are offset, and presented as net.

Current and deferred taxes relating to items directly recognised in reserves are recognised in reserves and not in the Statement of Profit and Loss.

Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future economic benefits in the form of adjustment to future income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax. Accordingly, MAT is recognised as an deferred tax asset in the Balance Sheet when it is probable that future economic benefit associated with it will flow to the Company.

30. Dividend Distribution

Dividends paid (including income tax thereon) is recognised in the period in which the interim dividends are approved by the Board of Directors, or in respect of the final dividend when approved by shareholders.

31. Cash Flow Statement

Cash flows statement is prepared as per the Indirect Method specified in Ind AS 7 on Cash Flows. Cash and cash equivalents (including bank balances) shown in statement of cash flows exclude item which are not available for general use on the date of balance sheet.

32. Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post-tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit / (loss) after tax (including the post-tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.

Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have been issued at a later date. The dilutive potential equity shares are adjusted forthe proceeds receivable had the shares been actually issued at fair value (i.e. average market value of the outstanding shares). Dilutive potential equity shares are determined independently for each period presented. The number of equity shares

and potentially dilutive equity shares are adjusted for share splits / reverse share splits and bonus shares, as appropriate.

33. Segment Reporting

Operating segments are reported in consistent manner with the internal reporting provided to the Chief Operating Decision Maker (CODM) of the Company. The CODM is responsible for allocating resources and assessing performance of the Company.

34. Recent Indian Accounting Standard (IndAS)

The Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2023, as below:

Ind AS 1, Presentation of Financial Statements - This amendment requires the entities to disclose their material accounting policies rather than their significant accounting policies. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and the impact of the amendment is insignificant in the financial statements.

Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors - This amendment has introduced a definition of''accounting estimates'' and included amendments to Ind AS 8to help entities distinguish changes in accounting policies from changes in accounting estimates. The effective date for adoption of this amendment is annual periods beginning on or after April 1,2023. The Company has evaluated the amendment and there is no impact on its financial statements

Ind AS 12, Income Taxes - This amendment has narrowed the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no impact on its financial statements.

Other financial assets

Hie Compaqy maintains exposure in cash and cash equivalents, term deposits with banka gad derivative contracts.

The Company held cash and cash equivalents ofRa. in Lacs 339.81 Lacs at March 31,2023 (March 31, 2022: Rs. in Lacs 297.53 Lacs), Cash and cash equivalents are held with reputable and credit-worthy batiks.

Individual risk limits are set for each counterparty based on financial position, credit rating and past experience. Credit limits and concentration of exposures are actively monitored by the Management of the Company.

Other than trade and other receivables, the Company has do other financial assets that are part due but not impaired (b) Market risk:

Market Risk is die dak that the fair value or future cash flows of a financial instrument will fluctuate because of changes In market ptrkea. Market risk comprises three types of risk: currency risk, interest rate risk and price risk.

(I) Foreign currency risk

The Company is exposed lo currency risk on account of its operating and financing activities. The /unctions! currency of the Company is Indian Rupee. Company''s exposure is mainly denominated in USD, QBP and Rum. The exchange rates have changed substantially in recent periods and may continue to fluctuate substantially m the future. Tho Company has put in place a Financial Risk Management Policy to Identify fee meet effective and efficient ways of managing the currency risks. The Company uses derivative instruments (mainly foreign exchange forward contracts) to mitigate the risk of The Company do not use derivative financial instruments for trading or speculative purposes.

(II) interest rate risk:

Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rates. Airy movement in the reference rates could have an impact on the Company''s cash flows as well as oasts. The Company also uses a mix of interest rate sensitive financial instruments to manage the liquidity and fund requiranents for its day to day operations like short-term loans.

Interest rate sensitivity analysis:

As at March 31,2023 interest bearing financial liability (secured loan from banks) stood at Rs. in Lacs 6816.42 Lacs, was subject to variable interest rates. Increast/decrease of 50 basis points in interest reset at the balance sheet date would result in decreese/increese in profit before tax of Rs, in Lees The risk estimates provided assume a parallel shift of 50 basis points interest rate. This calculation also aunnrn that the change occurs at (he balance sheet date and has been calculated based on risk exposures csnxtanding as at that date. The period end balances are not necessarily representative of the average debt outstanding during the period.

Fair value of financial mafiunuans:

All financial assets are initially recognized at firir value of consideration paid Subsequently, financial assets are carried at fair value or amortized cost leas impairment. Where non - derivative financial assets are carried at firir value, gains and losses on re- measurcmml are recognized directly in equity unless du finonciid assets hove bean designated os being boM id fiur value frrrough profit m loss, in which caw the gains and losses are recognized directly in the standalone tteoamect of profit and loss. Financial assets are designated as being held at Sadr value through profit or bus when It is necessary to reduce measurement inoonsisteDcy for related assets and liabilities. All financial liabilities other than derivatives are initially recognized at fair value of consideration received net of transaction coats as appropriate (initial cost) and subsequently carried at amortised cost

(HI) Liquidity risk:

The Company follows a Conservative policy of ensuring sufficient liquidity at all times through a strategy of profitable growth, efficient liquidity at all times through a strategy of profitable growth, efficient working capital management as well as prudent capital expenditure. The Company has a overdraft facility wifli bonks to support any temporary fimding requirements.

The Company believes that current cash and cash equivalents, tied up borrowing lines and cash flow that is generated from operations is sufficient to meet requirements. Accordingly. Liquidity risk is perceived to be low.

Liquidity table:

Liquidity tables drawn up baaed an the cadi flows of financial liabilities baaed on the earlk it date on which the Company can be required to pay is disclosed at Note no. 49.

(V) Other price risk

The Company is not exposed to any significant equity price risks arising from equity investments, as cm 31st March 2023. Equity investments are held for strategic rather than trading purposes, The Company does not actively trade these invoatmanlg.

(VI) Equity pice sensitivity analyse:

There is no exposure to equity price risks as at the reporting data or as at the previous reporting date.

51 Figures of the previous year have been regrouped/rearranged wherever required in order to make them comparable with those of current year. Figures have been rounded off to the nearest rupees In lacs.

As per our attached report of even date For and on behalf of the Board

For Kapoor Tandon & Co.

Chartered Accountants Firm Registration No. 000952C

Mohd. Imran IfBkhaml Amin

Director (Hnance) ft CFO Managing Director

Divyank Nlgam DIKI:00037627 DIN 00037424

Partner

M. No. 438443

Place: Kanpur

Date: 30-05-2023 R. K. Awasthl

Company Secretary

---

Mar 31, 2018

A. CORPORATE INFORMATION

The consolidated financial statements comprise financial statements of Super Tannery Limited (the company/parent company) and its subsidiaries (collectively, “the Group”) for the year ended 31 March 2018. Group is primarily engaged in the business of manufacturing and trading of Leather and Leather Goods.

The Company’s a public limited company having its registered office situated at 187/170, jaipur Road, Kanpur – 208010 (UP). The Company’s equity shares are listed at the Bombay Stock Exchange (BSE)

The financial statements were approved for issue in accordance with a resolution of the directors on May 30, 2018.

Refer note 41(b) (II) & (III) on Interest rate risk and Liquidity Risk respectively.

Security details:-

Term Loan other than Vehicle Loans

Aforesaid Term Loans are secured by hypothecation/mortgage of company’s moveable and im-moveable properties. Furthe secured by the personal guarantee of promoter Directors of the company.

Vehicle Loans

Secured by hypothecation od vehicle financed.

2 The Scheme of Arrangement (Dmerger)

(a) Pursuant to the Scheme of Arrangement i.e Dmerger (the ’scheme’),duly sanctioned by the National Company Law Tribunal, Bench Allahabad (NCLT) vide Order dated 27.12.2017 with effect from the Appointed Date i.e., April 01, 2017 (as per scheme initially appointed date was 01.04.2015 which was amended to 01.04.2017duly approved), the Goat Tanning Division of the Company stands transferred to and vested in the company for med for the purpose namely ”Amin Tannery Limited” (the ’resulting company) ongoing concern basis at their respective book value.

The certified copy of the order sanctioning the Scheme has been filed with the Registrar of Companies, UP and Uttaranchal on 01.02.2018.The scheme has been considered in these financial statements by transferring the carrying amount of assets and liabilities of the Goat Tannery Division with effect from the Appointed Date. Further, the financial statements for the year ended March 31 2017 have been restated by the management.

3 Disclosure pursuant to Ind AS 19 “Employee Benefits”:

(a) Defined Contribution Plan

The employees of the Company are member so fastate-managed retirement benefit plans namely Provident fund and Pension and Employee State lnsurance (ESI) operated by the Government of lndia. The Company is required to contribute a specified percentage of payroll costs to the retirement benefit and ESI schemes.

The only obligation of the company with respect to such retirement and other benefit plan is to make the specified contributions.

The Company has recognized the following amounts in the lncome Statement during the year under ’Contribution to staff provident and other funds’ (refer note 27)

(b) Defined Benefit Plan

The employees Gratuity Fund Scheme, which is a defined benefit plan,is managed by the trust maintained with LIC. The present value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

4 Transition to Ind AS:

These are the Company’s first financial statements prepared in accordance with Ind-AS.

The Company has adopted lndian Accounting Standards (lnd AS) notified by the Ministry of Corporate Affairs with effect from 1^st April,2016, with a transition date of 1stApril,2016. Ind AS 101-’First time Adoption of lndian Accounting Standards’ requires that all lnd AS standards and interpretations that are issued and effective for the first lnd AS financial statements which is for the year ended 31^st March,2018 for the company, be applied retrospectively and consistently for all financial years presented. Consequently, in preparing these lnd AS financial statements, the Company has availed certain exemptions and complied with the mandatory exceptions provided in lnd AS lOl. As explained below. The resulting difference in the carrying values of the assets and liabilities as at the transition date between the lnd AS and Previous GAAP have been recognized directly in equity (retained earnings or another appropriate category of equity).

A. Exemptions and exceptions availed

Set out below are the applicable Ind-AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind-AS.

A.l Ind-AS Optional Exemptions A.1.1 Deemed Cost

Ind-AS 101 permits a first - time adopter to elect to continue with the carrying value for all of its property, plant and equipment and intangible assets as recognized in the financial statements as at the date of transition to Ind-AS, measured as per the previous GAAP and use that as its deemed cost as at the date of transition.

A.I.2 Foreign Currency Monetary items

In terms of Para D13AA of Ind AS 101, the Company may continue to account for foreign exchange differences relating to long term foreign currency monetary items as per previous IGAAP. The Company has elected to apply the same.

A.2 Ind-AS Mandatory Exceptions A.2.1 Estimates

An entity’s estimates in accordance with Ind-ASs at the date of transition to Ind-AS shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error.

Ind-AS estimates as at 1st April, 2016 are consistent with the estimates as at the same date made in conformity with previous GAAP. The company made estimates for following items in accordance with Ind-AS at the date of transition as these were not required under previous GAAP:

A.2.2 De-recognition of financial assets and liabilities

lnd-AS 101 requires a first-time adopter to apply the de-recognition provision so lnd-AS 109 prospectively for transactions occurring on or after the date of transition to lnd-AS. However, lnd-AS101 allows a first-time adopter to apply the de-recognition requirements in lnd-AS109 retrospectively from a date of the entity’s choosing, provided that the information needed to apply lnd-AS 109 to financial assets and financial liabilities derecognized as a result of past transactions was obtained at the time of initially accounting for those transactions.

The company has elected to apply the de-recognition provisions of Ind-AS 109 prospectively from the date of transition to Ind-AS.

A.2.3 Classification and measurement of financial assets

Ind-AS 101 requires an entity to assess classification and measurement of financial assets (investment in debt instruments) on the basis of the facts and circumstances that exist at the date of transition to Ind-AS.

A.2.4 Impairment of Financial Assets

Ind AS 101 requires an entity to apply the Ind AS requirements retrospectively if it is practicable without undue cost and effort to determine the credit risk that debt financial instruments where initially recognized. The company has measured impairment losses on financial assets as on the date of transition i.e. 1st April, 2016 in view of cost and effort.

B. Transition to Ind AS Reconciliations

The following reconciliations provide a quantification of the effect of significant differences arising from the transition from previous GAAP to Ind AS, as required under Ind AS 101:

(i) Reconciliation of Balance sheet as at April 1, 2016 (Transition Date);

(ii) Reconciliation of Balance sheet as at March 31, 2017;

(iii) Reconciliation of Total Comprehensive Income for the year ended March 31, 2017;

(iv) Reconciliation of Total Equity as at April 1, 2016 and as at March 31, 2017;

(v) Adjustments to Cash Flow Statements as at March 31, 2017

The presentation requirements under previous GAAP differs from Ind AS, and hence, previous GAAP information has been regrouped for ease of reconciliation with Ind AS. The re-grouped previous GAAP information is derived from the Financial Statements of the Company prepared in accordance with previous GAAP.

(v) Adjustments to Cash Flow Statements as at March 31, 2017

The lnd AS adjustments are non cash adjustments. Consequently, lnd AS adoption has no impact on the net cash flow for the year ended March 31, 2017 as compared with the previous GAAP.

Notes to Reconciliations:

The following explains the material adjustments made during transition from previous GAAP to Ind AS:

1.Trade receivable

Under previous GAAP the company has recognized provision on trades receivable based on expectation of company. Under lnd AS, the company provides loss allowance on receivable based on the expected Credit Loss (ECL) model which is measured following the ”simplified approach at amount equal to lifetime expected credit loss in addition to debts identified as bad/doubtful at each reporting date.

2. Borrowings

Under previous GAAP transaction cost were recognized in Statement of Profit and Loss. Under lnd AS financial liability inform of borrowing have been measured at amortized cost using Effective Interest Method. However, the same has not resulted in any adjustments required to be made.

3. Government Grants

Under previous GAAP, Government Grants in respect of Property, Plant and Equipment was presented as a deduction from Property, Plant and Equipment. Under lnd AS, Government Grants in respect of Property, Plant and Equipment need to be presented as deferred income in profit or loss on a systematic basis over the useful life of the asset.

Under lnd AS, import duty waivers for capital assets purchased under Export Promotion Credit Guarantee (EPCG) schemes are recorded as deferred revenue and recognized in Statement of Profit and Loss on a systematic basis over the periods in which the related performance obligations are fulfilled.

On the transition date, the Company, therefore, recorded an adjustment to measure such property, plant and equipment in accordance with Ind AS 16. Under Previous GAAP, cost of the property, plant and equipment was recorded at the cash price paid to acquire such assets. Consequently, depreciation relating to the above differences in the cost of property, plant and equipment under Ind AS and Previous GAAP has also been adjusted.

4. Deferred Tax

Indian GAAP requires deferred tax accounting using the income statement approach, which focuses on differences between taxable profits and accounting profits for the period. lnd-AS12 requires entities to account for deferred taxes using the balance sheet approach, which focuses on temporary differences between the carrying amount of an asset or liability in the balance sheet and its tax base. The application no lnd-AS 12 approach has not resulted in any adjustment to deferred tax recognised under previous GAAP.

5. Remeasurement of Defined benefits liabilities

Under previous GAAP the company recognized remeasurement of defined benefits plans under profit and loss. Under lnd AS, remeasurement of defined benefits plans are recognized in Other Comprehensive Income

6. Retained Earnings.

Retained earnings as at April 1, 2016 has been adjusted consequent to the above Ind-AS transition adjustments.

7. Other Comprehensive Income

Under Ind AS, all items of income and expense recognized in a period should be included in profit or loss for the period, unless a standard enquires or permits otherwise. Items of income and expense that are not recognized in profit or loss but are shown in the statement of profit and loss as ‘other comprehensive income’ includes remeasurements of defined benefit plans. The concept of other comprehensive income did not exist under previous GAAP.

5 Expenditure on Corporate Social Responsibility (CSR)

ln pursuance of the provisions of the Companies Act,2013 and CSR Policy of the Company it is required to spend two percent of the average net profits for the three immediately preceding financial years towards CSR activities.

Since the company has earned profits in previous years, gross amount required to be spent by the company towards CSR activities during the year is Rs. 11.25 Lacs.

The amount recognised as expense in the Statement of Profit and Loss on CSR related activities is Rs.11.25 Lacs (previous year: Rs.10.50 Lacs) detailed as under:

6 Disclosure pursuant to Ind AS 17 “Leases”:

(a) Where the company is Lessor

i. Operating Lease:

The company has not entered into any non-cancellable Operating Lease.

ii. Finance Lease: The Company has not entered into any finance lease.

(b) Where the company is Lessee

i. Finance Lease:

The company does not have any finance lease arrangement.

ii. Operating Lease: The Company has not entered into any non-cancellable operating leases.

7 Financial Instruments

(i) Capital Management

The Company’s capital management is intended to create value for shareholders by facilitating the meeting of long – term and short – term goals of the Company.

The Company determines the amount of capital required on the basis of annual operating plans and long-term product and other strategic

Investment plans. The funding requirements are met through equity and other long-term/short-term borrowings. The Company’s policy is aimed at combination of short-term and long-term borrowings.

The capital structure of the company consists of debt, which includes the borrowings including temporary over drawn balance, cash and cash equivalents including short term bank deposits, equity comprising issued capital, reserves and non-controlling interests. The gearing ratio for the year is as under:

(ii) Categories of financial instruments Calculation of Fair Values

The fair values of the financial assets and liabilities are defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following methods and assumptions were used to estimate the fair values of financial instruments:

a)The fair values of investment in quoted investment in equity shares is based on the current bid price of respective investment as at the Balance Sheet date.

b)The fair value of the long-term borrowings carrying floating-rate of interest is not impacted due to interest rate changes and will not be significantly different from their carrying amounts as there is no significant change in the under – lying credit risk of the Company (since the date of inception of the loans).

c) The fair value of loans from banks and other financial in debtedness as well as other non current financial liabilities is estimated by discounting future cash flows using rates currently available for debt or similar terms and remaining maturities.

d) Cash and cash equivalents, trade receivables, other financial assets, trade payables, and other financial liabilities have fair values that approximate to their carrying amounts due to their short-term nature.

(iii) Financial risk management objectives:

The Company’s principal financial liabilities comprise of loan from banks and financial institutions, and trade payables. The main purpose of these financial liabilities is to raise finance for the Company’s operations. The Company has various financial assets such as trade receivables. Cash and short term deposits, which arise directly from its operations.

The main risks arising from Company’s financial instruments are foreign currency risk, credit risk, market risk, interest rate risk and liquidity risk.

The Board of Directors review and agree policies for managing each of these risks.

(a) Credit risk:

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s trade and other receivables, cash and cash equivalents and other bank balances. The maximum exposure to credit risk in case of all the financial instruments covered below is restricted to their respective carrying amount.

Other than trade and other receivables, the Company has no other financial assets that are past due but not impaired

(b) Market risk:

Market Risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: currency risk, interest rate risk and price risk.

(I) Foreign currency risk

The Company is exposed to currency risk on account of its operating and financing activities. The functional currency of the Company is lndian Rupee. Company’s exposure is mainly denominated in USD, GBP and Euro. The exchange rates have changed substantially in recent periods and may continue to fluctuate substantially in the future. The Company has put in place a Financial Risk Management Policy to identify the most effective and efficient ways of managing the currency risks. The Company uses derivative instruments (mainly foreign exchange forward contracts) to mitigate the risk of changes in foreign currency exchange rate.

The Company do not use derivative financial instruments for trading or speculative purposes.

(II) Interest rate risk:

Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rates . Any movement in the reference rates could have an impact on the Company’s cash flows as well as costs. The Company also uses amix of interest rate sensitive financial instruments to manage the liquidity and fund requirements for its day to day operations like short-term loans.

Interest rate sensitivity analysis:

As at March 31, 2018 interest bearing financial liability (secured loan from banks) stood at Rs.7924.41 Lacs, was subject to variable interest rates.

Increase / decrease of 50 basis points in interest rates at the balance sheet date would result in decrease / increase in profit before tax of Rs.39.62 Lacs.

(Ill) Liquidity risk:

The Company follows a Conservative policy of ensuring sufficient liquidity at all times through a strategy of profitable growth, efficient liquidity at all times through a strategy of profitable growth. Efficient working capital management as well as prudent capital expenditure. The Company has a overdraft facility with banks to support any temporary funding requirements.

The Company believes that current cash and cash equivalents, tied up borrowing lines and cash flow that is generated from operations is sufficient to meet requirements. Accordingly, liquidity risk is perceived to be low.

Liquidity table:

Liquidity tables drawn up based on the cash flows of financial liabilities based on the earliest date on which the Company can be required to pay is disclosed at Note no. 51.

(IV) Other price risk:

The Company is not exposed to any significant equity price risks arising from equity investments, as on 31^st March 2018. Equity investments are held for strategic rather than trading purposes. The Company does not actively trade these investments.

(V) Equity price sensitivity analysis:

There is no exposure to equity price risks as at the reporting date or as at the previous reporting date.

8 Disclosure pursuant to Ind AS 27 “Separate Financial Statements”

Investments in following subsidiaries and associates is accounted at cost:

9 There is no amount due and outstanding to be credited to Investor Education & Protction Fund as at March 31, 2018.

10 Disclosure pursuant to Ind AS 37 “Provisions, Contingent Liabilities and Contingent assets”:

The company has recognised contingent liabilities as disposed in Note 33 above and as such no provision is required to be made. No provision was outstanding as at the beginning and at the end of the year.

11 Disclosure pursuant to Ind AS 105 “Non-current assets held for sale and discontinued operations”:

There are no such asset held for sale and discontinued operations on 31 March 2018.

12 Financial Statements of the subsidiary companies and related detailed information will be made available to the investors, of the company and subsidiary companies. seeking such information. The financial statements of the subsidiary companies are also kept at Registered Office of the company and that of subsidiary companies for inspection of investors of the company and subsidiary companies.

---

Mar 31, 2015

1. Disclosure in terms of AS 15

Defined Benefit Plan

The employees Gratuity Fund Scheme, which is a defined benefit plan, is managed by the trust maintained with LIC. The present value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

2. The related party disclosure in accordance with AS 18 'Related Party Disclosures' issued by ICAI, is given below:

A. Relationship

i. SubsidiaryCompany

Aarifi Tanners Limited, Super Tannery (U.K.) Limited, Safety Solutions s.r.o, Super Corporation Limited

ii. Joint Ventures, Associates & Entities:

Joint Venture: Nil

Associates & Entities : Secure Safety Limited

iii. Key Management Personnel (KMP) & Relatives:

Mr. Iftikharul Amin (Managing Director)

Mr. Iqbal Ahsan (Joint Managing Director)

Mr. Veqarul Amin (Joint Managing Director)

Mr. Imran Siddiqui (Whole-time Director)

Mr. Arshad Khan (Whole-time Director)

Mr. Mohd. Imran (Whole-time Director)

Mr. Mubasherul Amin (Son of Mr. Iqbal Ahsan)

Mr. Tanveerul Amin (Son of Mr. Iftikharul Amin)

Mr. Umairul Amin (Son of Mr. Iqbal Ahsan)

Mr. Khalid Sayeed (Brother of Mr. Imran Siddique)

iv. Other : Enterprise over which KMP or relatives of KMP are able to exercise significance influence:

Super Shoes Limited, Amin Tannery Limited, Amin Colonizers & Developers Ltd, Super Tannery FZE, Banthar Industrial Pollution Control Company Industrial Infrastructure Services (I) Ltd, Super House Limited

B. The following transactions were carried out with related parties in the ordinary course of business during the year:

3. The Company's operation predominantly comprises only one segment i.e. Leather and Leather Products; hence provisions of AS-17 on Segment Reporting is not applicable.

4. During the year under consideration no borrowing cost has been capitalized by the company in accordance with the provisions of AS-16 on Borrowing Costs.

5. The company has incurred Research & Development expenses during the year, the same are immaterial and no future economic benefit will accrue, therefore no expenses have been capitalized.

6. Disclosure in terms of AS-28

The management has carried out an exercise of identifying the assets that may have been impaired, during the year, in respect of each cash generating unit. On the basis of review carried out by the management, there was no impairment loss on fixed assets during the year.

7. Disclosure in terms of AS-29

The company has recognised contingent liabilities as disclosed in Note 39 above and as such no provision is required to be made. No provision was outstanding as at the beginning and at the end of the year.

8. Confirmation of Balances with Sundry debtors, creditors, loans and advances and other parties have not been received in few cases.

9. Certain assets of erstwhile Super Agro-Tech Limited (SATL) acquired pursuant to the scheme of amalgamation sanctioned by Hon'ble High Court of Judicature at Allahabad, included in the books of the company remain under the name of SATL pending completion of the certain formalities. Further to aforesaid certain land at Banthar, Unnao though used for the business purposes of the company is lying registered in the name of one of the director of the company.

10. Other Liabilities includes Rs. 2,93,10,000 being advance money received against sale of land at Dehradoon.

11. The current assets, loans and advances are approximately of the values stated, if realised in the ordinary course of business. The provisions for all known liabilities adequate and not in excess of the amount considered reasonably necessary.

12. The figures of the previous year have been regrouped/rearranged wherever necessary in order to make them comparable with the figures of the current year. Figures have been rounded off to the nearest rupee. Figures in brackets pertain to previous year

---

Mar 31, 2014

1. Disclosure in terms of AS 15 Defined Benefit Plan

The employees Gratuity Fund Scheme, which is a defined benefit plan, is managed by the trust maintained with LIC. The present value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

2. The related party disclosure in accordance with AS 18 ''Related Party Disclosures'' issued by ICAI, is given below:

A. Relationship

i. SubsidiaryCompany

Aarifi Tanners Limited Super Safetywears Limited Super Tannery (U.K.) Limited Safety Solutions s.r.o Super Corporation Limited

ii. Joint Ventures, Associates & Entities: Joint Venture: Nil Associates & Entities :

Secure Safety Limited

iii. Key Management Personnel & Relatives:

Mr. Iftikharul Amin (Managing Director)

Mr. Iqbal Ahsan (Joint Managing Director)

Mr. Veqarul Amin (Joint Managing Director)

Mr. Imran Siddiqui (Whole-time Director)

Mr. Arshad Khan (Whole-time Director)

Mr. Mohd. Imran (Whole-time Director)

Mr. Mubasherul Amin (Son of Mr. Iqbal Ahsan)

Mr. Tanveerul Amin (Son of Mr. Iftikharul Amin)

Mr. Umairul Amin (Son of Mr. Iqbal Ahsan)

Mr. Khalid Sayeed (Brother of Mr. Imran Siddique)

iv. Other : Enterprise over which KMP or relatives of KMP are able to exercise significance influence:

Super Shoes Limited

Amin Colonizers & Developers Ltd

Super Tannery FZE

Banthar Industrial Pollution Control Company

Industrial Infrastructure Services (I) Ltd

3. Contingent liabilities ( Rupees )

Particulars Period

2013-14 2012-13

i. L C issued by the Bank 3,33,85,014 4,55,54,739

ii. Guarantee issued by the Bank 30,70,454 19,14,704

iii. The detail of disputed dues as per the clause ix (b) of Section 227 (4A) of the Act is as follows:

Income Tax:

CIT Appeals, Kanpur A.Y. 2010-11 63,98,520 63,98,520

CIT Appeals, Kanpur A.Y. 2011-12 14,30,260 -

ITAT Lucknow Bench A.Y. 2007-08 30,54,620 30,54,620

ITAT Lucknow Bench A.Y. 2009-10 2,36,052 2,36,052

(Above claims are likely to be decided in favour

of the company, hence not provided for)

4. The Company''s operation predominantly comprises only one segment i.e. Leather and Leather Products; hence provisions of AS-17 on Segment Reporting is not applicable.

5. In the absence of the Notification in the Official Gazette of the Central Government of India, the cess payable under Section 441A has not been paid / provided. The payment of cess shall be made in accordance with the Notification, as and when issued by the Central Government of India in its Official Gazette.

6. During the year under consideration, no borrowing cost has been capitalized by the company in accordance with the provisions of AS-16 on Borrowing Costs.

7. The company has incurred in Research & Development expenses during the year, the same are immaterial and no future economic benefit will accrue, therefore no expenses have been capitalized.

8. Disclosure in terms of AS-28

The management has carried out an exercise of identifying the assets that may have been impaired, during the year, in respect of each cash generating unit. On the basis of review carried out by the management, there was no impairment loss on fixed assets during the year.

9. Disclosure in terms of AS-29

The company has recognised contingent liabilities as disclosed in Note 39 above and as such no provision is required to be made. No provision was outstanding as at the beginning and at the end of the year.

10. Confirmation of Balances with Sundry debtors, creditors, loans and advances and other parties have not been received in few cases.

11. Certain assets of erstwhile Super Agro-Tech Limited (SATL) acquired pursuant to the scheme of amalgamation sanctioned by Hon''ble High Court of Judicature at Allahabad, included in the books of the company remain under the name of SATL pending completion of the certain formalities. Further to aforesaid certain land at Banthar, Unnao though used for the business purposes of the company is lying registered in the name of one of the directors of the company.

12. Other Liabilities includes Rs. 2,93,10,000 being advance money received against sale of land at Dehradoon.

13. The current assets, loans and advances are approximately of the value stated, if realised in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount considered reasonably necessary.

14. The figures of the previous year have been regrouped/rearranged wherever necessary in order to make them comparable with the figures of the current year. Figures have been rounded off to the nearest rupee. Figures in brackets pertain to previous year.

---

Mar 31, 2013

1. Disclosure in terms of AS 15 Defined Benefit Plan

The employees Gratuity Fund Scheme, which is a defined benefit plan, is managed by the trust maintained with LIC. The present value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

2. The related party disclosure in accordance with AS 18 ''Related Party Disclosures'' issued by ICAI, is given below: A. Relationship

i. Subsidiary (Wholly owned) Company

Aarifi Tanners Limited Super Safetywears Limited Super Tannery (U.K.) Limited Safety Solutions s.r.o

ii. Joint Ventures, Associates & Entities: Joint Venture: Nil Associates : Nil

iii. Key Management Personnel & Relatives:

Mr. Iftikharul Amin (Managing Director)

Mr. Iqbal Ahsan (Joint Managing Director)

Mr. Veqarul Amin (Joint Managing Director)

Mr. Imran Siddiqui (Whole-time Director)

Mr. Arshad Khan (Whole-time Director)

Mr. Mohd. Imran (Whole-time Director)

Mr. Mubasherul Amin (Son of Mr. Iqbal Ahsan)

Mr. Tanveerul Amin (Son of Mr. Iftikharul Amin)

Mr. Khalid Sayeed (Brother of Mr. Imran Siddique)

iv. Other : Enterprise over which KMP or relatives of KMP are able to exercise significance influence:

Super Shoes Limited

Amin Colonizers & Developers Ltd

Super Tannery FZE

Banthar Industrial Pollution Control Company

Industrial Infrastructure Services (I) Ltd

3. The Company''s operation predominantly comprises only one segment i.e. Leather and Leather Products; hence provisions of AS-17 on Segment Reporting is not applicable.

4. In the absence of the Notification in the Official Gazette of the Central Government of India, the cess payable under Section 441A has not been paid / provided. The payment of cess shall be made in accordance with the Notification, as and when issued by the Central Government of India in its Official Gazette.

5. During the year under consideration no borrowing cost has been capitalized by the company in accordance with the provisions of AS-16 on Borrowing Costs.

6. The company has incurred in Research & Development expenses during the year, the same are immaterial and no future economic benefit will accrue, therefore no expenses have been capitalized.

7. Disclosure in terms of AS-28

The management has carried out an exercise of identifying the assets that may have been impaired, during the year, in respect of each cash generating unit. On the basis of review carried out by the management, there was no impairment loss on fixed assets during the year.

8. Disclosure in terms of AS-29

The company has recognised contingent liabilities as disclosed in Note 39 above and as such no provision is required to be made. No provision was outstanding as at the beginning and at the end of the year.

9. Confirmation of Balances with Sundry debtors, creditors, loans and advances and other parties have not been received in few cases.

10. Certain assets of erstwhile Super Agro-Tech Limited (SATL) acquired pursuant to the scheme of amalgamation sanctioned by Hon''ble High Court of Judicature at Allahabad, included in the books of the company remain under the name of SATL pending completion of the certain formalities. Further to aforesaid certain land at Banthar, Unnao though used for the business purposes of the company is lying registered in the name of one of the directors of the company.

11. Other Liabilities includes Rs. 2,93,10,000 being advance money received against sale of land at Dehradoon.

12. The current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount considered reasonably necessary.

13. The figures of the previous year have been regrouped/rearranged wherever necessary in order to make them comparable with the figures of the current year. Figures have been rounded off to the nearest rupee. Figures in brackets pertain to previous year.

---

Mar 31, 2012

1.1 Term/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs. 1 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 numberof equity shares held by the shareholders.

At the annual general meeting held on 30th September 2010, the members of company have approved a stock split i.e. sub-division each equity share of the company of the face value of Rs. 21- each as existing on Record Date, shall stand sub-divided into two equity shares of face value of Rs. 1/- each fully paid up, and consequently the Authorized and Paid up Equity Share Capital of the company be changed accordingly.

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

"Corporate loan (INR) from bank carries interest @ 14.25% p.a. The loan is repayable in 9 regular installments as under:-

a) First6quarterlyinstallmentsofRs.0.50crore.(From31.l2.2011 to31.03.2013)

b) Next 2 quarterly installments of Rs. 0.70 crore. (On 30.06.2013 and 30.09.2013)

c) Last installment of Rs. 0.60 crore. on 30.11.2013

along with interest, from the date of loan, Viz 31.st December, 2011. The loan is secured by first charge over entire fixed assets (both present and future, except vehicles financed by other Banks/ Fis) of the Company. Extension of charge on current assets of the Company.

'Working Capital Loan from State Bank of India is secured by hypothecation of stocks, Book Debts, Plant & Machineries and equitable mortgage of Company's land & building and personal guarantee of some of the directors. Foreign Currency Loan from State Bank of India, Qatar is secured by providing lien on cash credit limit of the company.

2.1 The company has requested confirmation from Suppliers regarding their registration (filling of Memorandum) under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). According to the information available with the company there was no amount (principal and/or interest) due to any micro/small enterprises (SME as defined in the Act) as at the end of the year. There is no delay in payment to SME during the year. No interest was paid/payable on account of delay in payment to SME during the year in terms of Section 16 of the Act.

3.1 There are no amounts due for payment to Investor Education & Protection Fund under Section 205C of , the Companies Act, 1956 as at the year end.

4.1 Gross Depreciation for the year is Rs. 3,56,93,914 (Rs. 3,38,97,923) out of which Rs. 2,46,343 (Rs. 2,76,402) being depreciation on revalued amount, has been adjusted from Revaluation Reserve as per accounting policy given in the accounting policy of the depreciation.

4.2 Certain Fixed Assets of the Company were revalued by the Approved Valuer as on 31st March, 1992. Accordingly value of Fixed Assets of the Company was increased by Rs. 4,11,23,987 (Land Rs. 1,73,96,063, Building Rs. 70,44,300 and Plant and Machinery Rs. 1,66,83,624) and the corresponding amount was credited to the Revaluation Reserve.

In respect of items which are purchased both from indigenous and imported sources, the identity of individual items consumed cannot be established but segregation of consumption between imported and indigenous sources has been made on a reasonable approximation determined from the Company's records.

5. Acturial valuation of Gratuity as required by Accounting Standard 15 "Employee Benefits" issued by the Institute of Chartered Accountants of India has not been done by the Company. However on 11th june, 2009 the company has taken a Group Gratuity Scheme from Life Insurance Corporation of India.

6. The related party disclosure in accordance with AS 18 ‘Related Party Disclosures' issued by ICAI, is given below:

A. Relationship

i. Subsidiary (Wholly owned) Company

Aarifi Tanners Limited

Super Safetywears Limited

Super Tannery (U.K.) Limited

Safety Solutions s.r.o

ii. Joint Ventures, Associates & Entities:

Joint Venture: Nil

Associates & Entities:

Super Shoes Limited Amin Colonizers & Developers Ltd Gentraco India Exim Ltd Super Tannery FZE

Banthar Industrial Pollution Control Company Industrial Infrastructure Services (I) Ltd

iii. Key Management Personnel & Relatives:

Mr. Iftikharul Amin (Managing Director)

Mr. Iqbal Ahsan (Joint Managing Director)

Mr. Veqarul Amin (Joint Managing Director)

Mr. Imran Siddiqui (Whole-time Director)

Mr. Arshad Khan (Whole-time Director)

Mr. Mohd. Imran (Whole-time Director)

Mr. Mubasherul Amin (Son of Iqbal Ahsan)

Mr. Tanveerul Amin (Son of Iftikharul Amin)

Mr. Khalid Sayeed (Brother of Imran Siddique)

7. Contingent liabilities 2011-12 2010-11 Contingent Liabilities in respect of:

i. Guarantees issued by the Bank NIL NIL

ii. Foreign Bills negotiated/Purchased with Bankers 9,02,50,013 8,36,19,900

Above claims are likely to be decided in favour of the company, hence not provided for.

8. The Company's operation predominantly comprises only one segment i.e. leather and leather Products, therefore, Segment Reporting as per Accounting Standard (AS-17) issued by the Institute of Chartered Accountants of India is not applicable.

9. In the absence of the Notification in the Official Gazette of the Central Government of India, the cess payable under Section 441A has not been paid / provided. The payment of cess shall be made in accordance with the Notification, as and when issued by the Central Government of India in its Official Gazette.

10. During the year under consideration no borrowing cost has been capitalized by the company in accordance with the Accounting Standard 16 Borrowing Cost' issued by the Institute of Chartered Accountants of India.

11. The company has incurred in Research & Development expenses during the year, the same are immaterial and no future economic benefit will accrue, therefore no expenses have been capitalized.

12. Disclosure in terms of AS 28

The management has carried out an exercise of identifying the assets that may have been impaired, during the year, in respect of each cash generating unit. On the basis of review carried out by the management, there was no impairment loss on fixed assets during the year.

13. Disclosure in terms of AS 29

The company has recognised contingent liabilities as disclosed in Note 39 above and as such no provision is required to be made. No provision was outstanding as at the beginning and at the end of the year.

14. Confirmation of Balances with Sundry debtors, creditors, loans and advances and other parties have not been received in few cases.

15. The figures of the previous year have been regrouped/rearranged wherever necessary in order to make them comparable with the figures of the current year. Figures have been rounded off to the nearest rupee.

16. Other Liabilities includes advance money received against land at Dehradoon.

17. Certain assets of erstwhile Super Agro-Tech Limited (SATL) acquired pursuant to the scheme of amalgamation sanctioned by Hon'ble High Court of Judicature at Allahabad, included in the books of the company remain under the name of SATL pending completion of the relevant formalities.

Likewise, certain land at banthar, Unnao is lying registered in the name of some the Directors of the Company. .

18. Previous Year Figures

The financial statements for the year ended 31 st March, 2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of revised Schedule VI under the Companies Act, 1956 the financial statements for the year ended 31 st March,2012 are prepared as per revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification. The adoption of revised Schedule VI for the previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.

---

Mar 31, 2010

1. Estimated amount of contracts remaining to be executed on capital account Rs.200 lacs (Rs. 250 lacs) against which advances have been paid Rs. 28.78 lacs (Rs. 120.80 lacs).

2. Contingent liability on account of:

31st March, 2010 31st March. 2009

a. Foreign Bills negotiated/ Purchased with Bankers 6,82,22,248 1,94,65,835

b. Bank Guarantee 4,25,000 15,95,000

c. Electricity Demand Pending litigation NIL 58,60,703

3. Equity Share Capital includes:

5,00,000 Shares of Rs.2/- each allotted as fully paid up pursuant to a contract without the payment being received in cash;

22,50,000 Shares of Rs.2/- each allotted as fully paid up Bonus Shares by capitalization of General Reserve;

29,95,560 Shares of Rs.2/- each allotted as fully paid up pursuant to the Scheme of amalgamation to the erstwhile Share Holders of Super Agro-tech Limited.

1,53,000 Shares of Rs. 21- each forfeited and re-issued to the promoters of the company.

3,59,91,120 Shares of Rs. 21- each allotted as fully paid up Bonus Shares by capitalization of Share Premium Reserve.

4. At the annual general meeting held on 30th September 2009, the shareholders of the company approved issue of Bonus Equity Shares in the ratio 1:2. The record date was fixed by the Board of Directors of the Company on 9th February, 2010. Accordingly the shares were credited to the eligible share holders as per record date. Pursuant to the provisions of Accounting Standard - 20 "Earning per Share", figures in respect of Earning per Share for the last year has been disclosed at Restated Value.

5. Working capital Loan from State Bank of India is secured by hypothecation of stocks, Book Debts, plant and machineries and equitable mortgage of Companys land and building and personal guarantee of some of the directors. Term-loan from State Bank of India is secured by equitable Mortgage of Companys Land and Building at Leather Technology Park, Banthar, Unnao and personal guarantee of some of directors. Secured loans-others (Vehicle loan) is secured against hypothecation of respective Vehicles.

6. Rupee Term Loan includes a sum of Rs. 39.46 lacs (Rs. 133.44 lacs) due for payment within one year and Foreign Currency Loan amounting to Rs. 270.30 Lacs has been paid during the year.

7. The current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount considered reasonably necessary.

8. Acturial valuation of Gratuity as required by Accounting Standard 15 "Employee Benefits" issued by the Institute of Chartered Accountants of India has been done by the Company. However on 11th June, 2009 the company has taken a Group Gratuity Scheme from Life Insurance of India.

9. Certain Fixed Assets of the company were revalued by approved valuer as on 31st March, 1992. Accordingly value of Fixed assets of the company was increased by Rs. 411.24 Lacs (Land Rs. 173.96 Lacs. Building Rs. 70.44 Lacs & Plant and Machinery Rs. 166.84.Lacs) and the corresponding amount was credited to the Revaluation Reserve.

10. Gross depreciation for the year is Rs. 3,29,79,931 (Rs. 2,86,02,285) out of which Rs. 3,10,667 (Rs: 3,49,769) being depreciation on revalued amount, has been adjusted from Revaluation Reserve as per accounting policy given in the accounting policy of the depreciation.

11. The company has requested confirmation from suppliers regarding their registration (filing of Memorandum) under the Micro, Small and Medium Enterprises Development Act, 2006 (the Act). According to the information available with the company there was no amount (principal and/or interest) due to any micro/small enterprises (SME as define in the Act) as at the end of year. There is no delay in payment to SME during the year. No interest was paid/payable on account of delay in payment to SME during the year in terms of the Section 16 of the Act.

12. Pursuant to the exemption under Section 211(4) of the Companies Act,1956 obtained from Government of India Ministry of Corporate Affairs, vide order No. 46/99/201 OtCL-III dated 4/5/2010 the company is not required to disclose quantitative details of paras 3(ii) (a) (I) and 3(ii) (d) of part II of Schedule VI to the CompaniesAct, 1956.

13. Certain assets of erstwhile Super Agro-Tech Limited (SATL) acquired pursuant to the scheme of amalgamation sanctioned by Honble High Court of Judicature at Allahabad, included in the books of the company remain under the name of SATL pending completion of the relevant formalities. Likewise, certain land at Banthar, Unnao is lying registered in the name of some of the Directors of the Company.

14. Sundry creditors for capital goods includes advance money received against land at Dehradoon.

15. The Companys operation predominantly comprises only one segment i.e. leather and leather Products, therefore, Segment Reporting as per Accounting Standard (As-17) issued by the Institute of Chartered Accountants of India is not applicable.

16. The Company has accounted deferred tax liability i.e. difference of taxable income and accounting income, comprising tax effect of timing difference as under:-

17. In the absence of the Notification in the Official Gazette of the Central Government of India, the cess payable under Section 441A has not been paid / provided. The payment of cess shall be made in accordance with the Notification, as and when issued by the Central Government of India in its Official Gazette.

18. During the year under consideration no borrowing cost has been capitalized by the company in accordance with the Accounting Standard 16. Borrowing Cost issued by the Institute of Chartered Accountants of India.

19. The company has incurred in Research & Development expenses during the year, the same are immaterial and no future economic benefit will accrue, therefore no expenses have been capitalized.

20. Disclosure in terms of AS 28

The management has carried out an exercise of identifying the assets that may have been impaired, during the year the respect of each cash generating unit. On the basis of review carried out by the management, there was no impairment loss on fixed assets during the year.

21. Interest includes Rs. 17,44,643 (Rs. 54,24,084) being interest on fixed period loans.

22. Confirmation of Balances with Sundry debtors, creditors, loans and advances and other parties have not been received in few cases.

23. Disclosures in terms of AS 29.

The company has recognized contingent liabilities as disclosed in Note No. B-2 above and as such no provision is required to be made. No provision was outstanding as at the beginning and at the end of the year.

24. Figures in brackets pertain to previous year.

25. The figures of the previous year have been regrouped/rearranged wherever necessary in order to make them comparable with the figures of the current year.

26. Figures have been rounded off to the nearest rupee.

27. Information pursuant to provisions of Part IV of Schedule VI of the Companies Act, 1956, is attached. Signature to Schedules 1 to 19