Superhouse Limited (BSE Code 523283), one of the largest leather export house in India, has reported total consolidated revenue of Rs 71.46 crore for Q1FY08, an increase of 22% as compared to Rs 58.6 crore in Q1FY07. The consolidated net profit for the quarter stood at Rs 18 lakh, which was achieved despite challenging environment of appreciating rupee and competition from China. Increased interest and depreciation costs on account of commissioning of new facilities also added to lower profitability. The leather and leather products division contributed Rs 63.89 crore to the total revenues and the textile products division contributed 7.57 crore to the total revenue. The exports of the company were up at Rs 51.47 crore as against Rs 33.46 crore in the corresponding quarter of the previous year, an increase of 35%.

Commenting on the performance of the company for Q1FY08, Mr. Mukhtarul Amin, CMD, Superhouse Ltd. said, “The appreciation of rupee in the quarter has impacted in our business, which has led to decline in profitability across the industry. With incentives being announced by the government for the exporters and an increase in duty drawback rate by 3%, we would now be able to charge competitive rates in the international markets, which will bring in more revenues in the coming quarters The expansion of the production capacity and commissioning of new tanneries in Q1 of FY08 and orders from US in the coming quarters would provide boost to our sales and profitability. We are expecting the forthcoming quarters to be robust also on account of our entry into high margin markets like France, UK and US with ladies footwear”.

In the last quarter, the company bagged orders worth Rs 80 crore from Steve Madden and Georgio Brutini, the leading brands in US, for supply of 2.5 lakh Men’s shoes. The company also signed up Jim Randesay, an American designer, for their fashion shoes division. Superhouse has set up design studios in France and UK and is planning another one in China. These design houses predict the fashion in the coming season and help the factories to cut down the supply time to the market. The company recently announced its plans of expanding its production capacity by 50% in the footwear division, with an investment of Rs 50 crore in the current fiscal. The increased capacity will cater to the rising demand from the US market. This expansion, spurred by an annual demand growth of 20-25%, will take the company’s daily production capacity of leather footwear to 25,000 pairs from 15,000 at present.

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About Superhouse Ltd:

Superhouse Ltd. is one of the leading leather exporters with certification from Government of India. Listed at BSE, the company is primarily based in Kanpur with 12 units spread across Kanpur, Unnao, Noida and Agra. The company is engaged in production of Leather garments, shoes, bags, accessories, fashion garments and riding garments. Equipped with some of the most modern machineries and specialized workforce, the company produces all types of leather and value added finished leather items, which are accepted and appreciated all over the world.

For FY07, Superhouse reported consolidated revenues of Rs 333.73 crore. The consolidated net profit was at Rs 7.71 crore. The EPS for the year was Rs 8.67. The company is the exclusive franchisee of Allen Cooper brand in India and has made its foray into the Indian retail sector with exclusive stores at Lucknow, Allahabad, Varanasi, Kanpur, Ghaziabad and several other cities. The company is one of the major suppliers to GAP, DKNY, Miss Sixty, Dolcis, C&A, Next PLC , Liz, Steve Maidden, Euro Shoes, Spapino, Burton’s, Andre, Heckel Security, Kramer Pferdesport, Hooks, J.D. Williams, Cipesz ES, Cofra SRL, Heba, M-Tech, PT Alasmas Berkat, Punto FA, and Tesco.

The company is committed to produce quality products for its customers and has acquired ISO–9001-2000, ISO-14001-2004 & OHSAS-18001-1999 certifications. It also has the distinction of quality certification under British, Australia, USA and Canadian standards also. Today Superhouse is major exporter to European countries including UK, France, Italy, Germany, Denmark and Netherland. Apart from European countries the company also exports to USA, China, Hongkong, South Africa, Australia & New Zealand and Middle East countries.

For further details, please contact: Bobby PadamKunal Takalkar/Kuldeep Negi Superhouse LimitedAdfactors Public Relations 9910890609 Tel: (+91) 11 41345155/6/7/8 9810073217/9871955299