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History of Tinna Overseas Ltd.

Tinna Overseas Limited having its Registered Office at A-151, Mayapuri, Phase-II, New Delhi was originally incorporated as a Private Limited Comp. under the Companies Act, 1956 on 4th March, 1987 under the name & style of Tinna Overseas Pvt limited The Comp. became Deemed Public Comp. w.e.f 31st March, 1992 & subsequently became a Public Limited Comp. in terms of Special Resolution passed on 18th April 94 under the Companies Act, 1956.

The Comp. was established in 1987 with the object to cater exclusively to the export market of footwear & footwear components. In 1988 Comp. started its commercial production by setting up a unit at Delhi. This unit undertakes manufacture & export of leather shoes, shoe uppers & its manufacturing capacity has been gradually modernised/expanded to the present level of 4,20,000 pairs of leather shoes and 4,80,000 pairs of shoe uppers per annum. The Comp. was recognised as an Export House from 1st April 1991 by Govt. of India, Ministry of Commerce.

The Comp. diversified into manufacture & export of Thermoplastic Rubber Compounds [TPRs] by setting up of another unit at Bombay in 1991. The unit started it production in June 1991. In the very first year of its commercial production the Comp. bagged export recognition award from Chemical & Allied Products Export Promotion Council for export achievement in respect of TPR for year 1991-92.

In 1993 the Comp. set up another unit at Gurgaon for manufacture of soles & heels for its captive consumption & exports.

The Comp. bagged export recognition awards for years 1988-89, 1990-91 & 1992-93 from the Council of Leather Export.

The Comp. at present is engaged in manufacture & export of leather footwear, footwear components, TPR compound & merchant exports to U.K., Canada, Italy, Australia, CIS countries & Portugal. The products manufactured by Comp. are well accepted in the international market. The Comp. manufacturing & exporting shoes for established international Companies like Liverpool Shoe Co., part of prestigious Pentland Group, Ravel part of reputed Clark Shoes of England, British Bata, Kidder Minster, Shoe Fayre, Bacons, L.M.International of U.K., CICIL Brothers & R.Hannah Co. of Australia & Worldwide Tradings of Canada & to reputed European chains like C&A, GUS, Stead and Simpson.

The sales turnover of Comp. has increased from Rs.475.60 lac in 1989-90 to Rs. 3563.68 lacs in 1993-94, thus registering an increase of 649.30% over a period of 5 years. During the same period its profit after Tax [PATs] increased from Rs.26.28 lacs to to Rs.390.27 lacs, showing a growth of more than 13.85% calculations of EPS and Book value have been calculated on Rs.10/- per share to facilitate comparison.

2. Depreciation upto the year ended 31st March' 1994 has been calculated on W.D.V. basis. During the period ended 30th Sep.1994 the Comp. has changed the method of depreciation accounting from W.D.V. to S.L.M. at the rates prescribed in Schedule XIV of Companies Act 1956. Accordingly, the Depreciation has been less charged to profit & loss account by Rs. 21 28,464/- fort he period ended 30th Sept' 1994.

3. The other income comprises of income on sale of advance licences & dividend income etc.

2005

-Tinna Overseas ties up with Pakistan, Bahrain cos for bitumen supply