TINNA RUBBER AND INFR Share price

Tinna Overseas Limited having its Registered Office at A-151 Mayapuri Phase-II New Delhi was originally incorporated as a Private Limited Company under the Companies Act 1956 on 4th March 1987 under thename and style of Tinna Overseas Pvt Ltd. The Company became Deemed Public Company w.e.f 31st March 1992 and subsequently became a Public Limited Company in terms of a Special Resolution passed on 18th April 94 under the Companies Act 1956. The Company was established in 1987 with the object to cater exclusively to the export market of footwear and footwear components. In 1988 Company started its commercial production by setting up a unit at Delhi. This unit undertakes manufacture and export of leather shoes shoe uppers and its manufacturing capacity has been gradually modernised/expanded to the present level of 420000 pairs of leather shoes & 480000 pairs of shoe uppers per annum. The Company was recognised as an Export House from 1st April 1991 by Govt. of India Ministry of Commerce. The Company diversified into manufacture and export of Thermoplastic Rubber Compounds (TPR) by setting up of another unit at Bombay in 1991. The unit started it''s production in June 1991. In the very first year of its commercial production the Company bagged export recognitionaward from Chemical and Allied Products Export Promotion Council for the export achievement in respect of TPR for the year 1991-92. In 1993 the Company set up another unit at Gurgaon for manufacture of soles and heels for its captive consumption and exports.The Company bagged export recognition awards for the years 1988-89 1990-91 and 1992-93 from the Council of Leather Export. The Company at present is engaged in manufacture and export of leather footwear footwear components TPR compound and merchant exports to U.K. Canada Italy Australia CIS countries and Portugal. The products manufactured by the Company are well accepted in theinternational market. The Company manufacturing and exporting shoes for established international Companies like Liverpool Shoe Co. part of the prestigious Pentland Group Ravel part of the reputed Clark Shoes of England British Bata Kidder Minster Shoe Fayre Bacons L.M.International of U.K. CICIL Brothers and R.Hannah Co. of Australia and Worldwide Tradings of Canada and to reputed European chainslike C&A GUS Stead & Simpson. The sales turnover of the Company 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 (PAT) increased from Rs.26.28 lacs toto Rs.390.27 lacs showing a growth of more than 13.85% calculations of EPS & Book value have been calculated on Rs.10/- per share to facilitate comparison. 2. Depreciation upto the year ended 31st March'' 1994 has beencalculated on W.D.V. basis. During the period ended 30thSep.1994 the Company has changed the method of depreciationaccounting from W.D.V. to S.L.M. at the rates prescribed inSchedule XIV of the Companies Act 1956. Accordingly theDepreciation has been less charged to profit and lossaccount by Rs. 21 28464/- fort he period ended 30th Sept''1994. 3. The other income comprises of income on sale ofadvance licences and dividend income etc.