- Board of Directors
- Core Management
- CSR Policy
- Policy on Materiality & Relevant Disclosure
SSIPL Retail Limited ("SSIPL") was constituted in the year 1994 and set up its first footwear manufacturing plant at Kundli, Sonepat in the year 1995. SSIPL is the largest authorized footwear manufacturer for brand Nike in India for over 20 years.
SSIPL Retail Limited operates six footwear-manufacturing facilities in the states of Haryana, Uttrakhand and Himachal Pradesh. Two facilities at Himachal and the facility at Uttrakhand are in the tax-holiday zone and enjoy certain income tax and excise duty exemptions. SSIPL's retail foray began in 1998 with the opening of its first retail outlet.
Today, we believe that we are one of the leading specialty retailer of premium international sports and lifestyle brands in India with a presence across retailing, designing, manufacturing, and franchising of sports and lifestyle products, as on 31st May, 2016 we have 371 stores across in 89 cities. SSIPL has, over a span of a decade, become the largest retailer for brand Nike in India.
SSIPL is managed by a team of young professionals, experienced in varied aspects of design, manufacturing, merchandising, marketing and quality control in the footwear and apparel industry. SSIPL's Managing Director and one of its Promoter, Mr. Rishab Soni is a professional in footwear designing. He has over a decade of experience in retailing of branded merchandise, manufacturing, licensing, distribution and retailing.
Mr. Sanjiv Saraf,
Sanjiv Saraf, 57 years, is the Chairman and an Independent Director of our Company. He has been on our Board since March, 2008. He holds a Bachelor's degree in Technology in Agricultural Engineering from the Indian Institute of Technology, Kharagpur. He has 31 years of work experience ranging from areas such as plastics and non-conventional energy. He held the position of managing director of Polyplex Corporation Limited with effect from January 01, 1986 up to May 29, 2002 and was appointed as the chairman of Polyplex Corporation Limited with effect from May 29, 2002. He is the director of Punjab Hydro Power Private Limited, Kotla Hydro Power Private Limited and Bhilangana Hydro Power Limited.
Mr. Rishab Soni,
Rishab Soni, 43 years, is the Managing Director and one of the Promoters of our Company. He is responsible for managing our Company's affairs and guiding its top management along with taking strategic decisions. He has been associated with our Company since 1995 and has been our Managing Director since 2008. He holds a diploma in footwear designing from Ars Sutoria Institute of Design and Development, Milan, Italy. He has been instrumental in building our partnerships with international brands such as Nike, Levi's, Lotto and Puma. He has 20 years of experience in manufacturing, licensing, distribution of footwear and retailing of branded merchandise. He was awarded the 'Retail Leadership Award' by Retailer & Franchise India at the Indian Retail Awards in 2014 and was also awarded the title of the 'Top 50 Talented Professionals in India' by CMO Asia Regional Congress. In 2015, he was awarded the title of 'Retail Professional of the Year' at the National Awards for Marketing Excellence. He is covered under the Keyman Insurance Policy issued to the Company on November 28, 2014 .The term of this policy is 29 years and expires on November 28, 2043.
Mr. Sunil Taneja,
Sunil Taneja, 59 years, is a Whole-Time Director, Chief Financial Officer and one of the Promoters of our Company. He has been on our Board since October, 2005. He has about 31 years of work experience. As Chief Financial Officer, he is responsible for, inter alia, developing our Company's financial operational strategies and monitoring its financial performance. He is a qualified Chartered Accountant from the Institute of Chartered Accountants of India and has 5 years of experience with Nike Sport Shoe Division as a General Manager.
Mr. Amit Mathur,
Amit Mathur, 37 years, is a Non-Executive and Non-Independent Director and a Promoter of our Company. He has been associated with our Company since June 2, 2011 as General Manager - Brand Management and has been on our Board since September 5, 2011. He has 16 years of work experience. Prior to being appointed on our Board, he was associated with Revere (now merged with our Company) as a director since 1998. He has completed his Master's in Business Administration from the Asian Institute of Management, Manila, Philippines in 2009 and completed a management education programme from the Indian Institute of Management, Ahmedabad in 2005.
Mr. Carlton Pereira,
Carlton Pereira, 48 years, is a Non-Executive and Non-Independent Director of our Company. He has been on our Board since April, 2006. He is a qualified chartered accountant from the Institute of Chartered Accountants of India. He has over 20 years of experience in the financial services industry. He has been associated with Arthur Andersen Limited. Further, he has held the position of a managing director of corporate finance/corporate recovery business for KPMG India.
Mr. Abhay Soi,
Abhay Soi, 42 years, is a Non-Executive and Non-Independent Director of our Company. He has been on our Board since February, 2006. He holds a Bachelor's degree in Arts from St. Stephens College, University of Delhi and a Masters of Business Administration degree from the European University. He has 18 years of work experience in setting up new businesses and financial and operational restructuring. He has worked with Arthur Anderson and Ernst & Young in India. Thereafter, post a short stint with KPMG's in Mumbai, he moved onto promote Halcyon Finance and Capital Advisors Private Limited. He is the Director of Halcyon Enterprises Private Limited, Halcyon Resources and Management Private Limited and Halcyon Finance and Capital Advisors Private Limited.
Mr. Raj K. Vaisoha,
Raj Vaisoha, 51 years, is an Independent Director of our Company. He has been on our Board since March, 2008. He holds a Bachelor's degree in Commerce from Sydenham College of Commerce and Economics, University of Bombay. He has 20 years of work experience in various fields of business. From 1995 to 2002, he has been managing the operations of East Point Holdings Limited in India. From 2002 to 2007, he was a board member of Mount Everest Mineral Water Limited from 2002 to 2007. He acted as Group Advisor heading business development of Essar Investments Limited from 2011 to 2013 through Sara Global.
Mr. Rahul Sood,
Rahul Sood, 46 years, is an Independent Director of our Company. He has been on our Board since March, 2008. He holds a Bachelor's degree in Arts from Delhi University and is an advocate enrolled with the Bar Council of Delhi. He was awarded the British Chevening Scholarship by the Foreign and Commonwealth Office, British High Commissioner to study law at the College of Law, York. He has 20 years of experience in field of law. He started his career at Dua Associates in July 1, 1994, a law firm as an associate and subsequently became a partner in April 1, 2002. Presently, he has his own independent practice.
Ms. Meenu Bansal,
Meenu Bansal, 46 years, is an Independent Director of our Company. She is a chartered accountant by profession and has been a fellow member of the Institute of Chartered Accountants of India (ICAI) since 1992 having 14 years of post-qualification experience in management, consultancy, transfer pricing, international taxation, audit and corporate accounts. Presently, she is a partner at Bansal Gupta & Associates, a chartered accountancy firm.
Mr. Srinath Srinivasan,
Srinath Srinivasan, 49 years, is a Non-Executive and Non-Independent Director of our Company. He was appointed on the Board of our Company as the nominee director of OIJIF on January 21, 2015. His nomenclature was changed as a Non-Executive and Non-Independent Director of our Company, from August 18, 2015. He has been conferred certifications such as 'Leadership Skills for Top Management' from Indian School of Business and has obtained Independent Director's certification. He holds a degree in management from Asian Institute of Management and a bachelor's degree in engineering from the National Institute of Technology, Surathkal, Karnataka. He is also a Director on the board of National Commodity and Derivatives Exchange Limited (NCDEX) and NCDEX e Markets Limited, and a nominee director in Indus Teqsite Private Limited and Beaver Engineering and Holding Private Limited.
Mr. Rishab Soni,
Mr. Rishab Soni is the Managing Director and one of the promoters of the company. He is associated with the company since 1995 and holding the position of Managing Director since 2008. He has done diploma in footwear designing from Ars Sutoria Institute of Design and Development, Milan, Italy. He has 20 years of experience in Manufacturing, licensing, distribution of footwear, retailing of branded merchandise. He is managing company affairs, guiding top management along with taking strategic decisions. He has a key role in building our partnerships with international brands like Nike, Lotto, Puma and Levi's.
Mr. Atul Madan,
Mr. Atul Madan is the Group President. He hold Bachelor Degree in Commerce (H) from University of Delhi & Diploma in Business Management from IMT Ghaziabad. He is associated with the company since 2009. He has 15 years' experience in the field of sales, operations and key accounts management. He is taking care of Sales & operations of franchisee retail business of the organization.
Mr. Praduman Raina,
Mr. Praduman Raina is the Senior Vice President of Business Development and Sales. He is associated with the organization since 2000. He holds Master Degree in Business Administration from Pune University. He has 15 years of experience in retail business and he is taking care of Sales & operations of Lotto business.
Mr. Om Prakash Gupta,
Mr. O.P. Gupta is the Senior Vice President- Finance and Commercial. He has 23 years' experience in Accounts, finance, taxation, and commercial. He holds Master degree in Commerce (Accountancy and Business Statistics) from University of Rajasthan. He is associated with the company since 1999. He is responsible for managing financial and commercial aspect of overall retail business.
Ms. Kanika Verma,
Ms. Kanika Verma is the Company Secretary and Vice President –Legal & HR. She is qualified Company Secretary from Institute of Company Secretaries of India and associate member if the Institute of Chartered Secretaries and Administrators, London. She is Bachelor in Commerce and Law from University of Delhi. She has total experience of 16 years and associated with the company since 2008. She taking care of Secretarial, legal and compliances of the company including HR.
Mr. Shivam Kataria,
Mr. Shivam Kataria is the Assistant Vice President- Strategy and Planning. He holds the Post Graduate Diploma from IIM and Bachelor of Technology from NIT Calicut. He has 7 years of experience of working on various transformational initiatives in multiple large scale programs in Consumer Goods, Footwear, Textile, Automotive, Oil and Gas and, has worked on Business Planning, Sales Transformation, Rural Marketing Strategy, Supply Chain Planning and Logistics Portfolio and Pricing Strategy, Procurement Transformation, Product Development & Innovation Strategy domain. He is responsible in the organization for overall strategy and planning of company's business.
Ms. Pooja Kalra Sood,
Ms. Pooja Karla Sood is Assistant Vice President MBO. She has 11 years of experience in Product forecasting, planning, Merchandising. She is associated with the company since 11 years. She holds Bachelor degree in Business Studies from Delhi University and Post graduate Diploma in Apparel Marketing and Merchandising. She is taking care of Forecasting and planning of product and merchandising stores profitably, CRM, and overall operations of MBO.
Mr. Amit Kothiyal,
Mr. Amit Kothiyal, 45 years, is the President – Manufacturing division responsible for overall manufacturing operations of SSIPL employed with the company since 7th April 2015. He holds a Bachelor's degree in Science (Physics, Maths and Statics) from H.N.B Garhwal University and has 20 years' of experience in footwear industry working with brands like Bata and Nike.
SSIPL believes that business enterprises are economic organs of society and draw on societal resources, thus our performance to be measured by Three P's contribution to building economic, social and environmental capital. SSIPL aligns its performance to these Three P's objectives- i.e. people, planet and profits. As an Indian enterprise, SSIPL believes that this approach can unleash strong drivers of growth to make it more inclusive and equitable for even the most marginalized sections of society, through the creation of sustainable livelihoods.
SSIPL is deeply committed to fulfilling its responsibility as a corporate citizen and hence it is integrated into the group's core business strategy. SSIPLians are encouraged to internalize this concept and use it in day-to-day work.
CSR at SSIPL means sustaining our corporate values along with the social goals of:
- Having minimal impact on the natural environment
- Enabling local communities to develop their potential and become self- reliant
- Empowering employees to be responsible civil society members; and
- Committing ourselves to ethical business practices that are fair to the stake-holders
Our CSR tenets are based on the premise that business and its environment are inextricably inter-dependent and hence we focus on strengthening the organic link between the two. The belief that a higher degree of sustainability can be achieved in business by balancing growth in all aspects of development (financial, social & human) is central to the framework of the SSIPL.
CSR for SSIPL is not merely charity or philanthropy; it is empowering stakeholders to make informed choices that will integrate business imperatives with development objectives. It is about making money in the most responsible manner.
MISSION & VISION STATEMENT
It is the Company's intent to make a positive difference to society by doing fewer projects with greater impact and focusing initiatives on communities in which the Company lives and operates.
SSIPL has as its embedded philosophy, the will to attain success in the way that respects ethical values and achieves social commitment such as:
- Recognition for Human Rights and making workplace a great place to work.
- Doing business with Sustainable development approach.
- Returning to the environment much more than what we take from it.
SSIPL Group has constituted a section 8 Company under Companies Act 2013 namely, "SSIPL Foundation" (erstwhile Section 25 Company under Companies Act 1956 ) in the year 2012, with the objective of channelizing its CSR initiatives through a body corporate dedicated to performance of CSR activities with no commercial goals. Besides SSIPL Foundation, a CSR Committee of the Board is also in place in terms of requirement of Companies Act, 2013. It oversees the implementation of CSR policies in lines with Schedule VII of the act as prescribed.
We at SSIPL ensure that the Company shall spend in every financial year at least 2% of the average net profits of the Company made during the three immediately preceding financial years in pursuance of its CSR policy.
SCOPE OF CSR ACTIVITES
Companies Act, 2013 has prescribed certain activities in Schedule VII that we have adopted as a part of our CSR agenda. They are as follows:
- eradicating hunger, poverty and malnutrition, promoting preventive healthcare and sanitation and making available safe drinking water;
- promotion of education, including special education and employment enhancing vocational skills especially among children, women, elderly, and the differently abled and livelihood enhancement projects;
- promoting gender equality and empowering women, setting up home and hostels for women and orphans; setting up old age homes; day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
- ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air, and water;
- protection of national heritage, art and culture including restoration of building and sites of historical importance and works of art, setting up of public libraries, promotion and development of traditional arts and handicrafts;
- measures for benefit of armed forces veterans, war widows, and their dependents.
- training to promote rural sports, nationality recognized sports, Paralympic sports and Olympic sports;
- contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government for socio-economic development and relief and funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women.
- contribution to funds provided to technology incubators located within academic institutions which are approved by the Central Government.
- Rural development projects.
Many of the Organizations that we support are committed to one or more of the activities prescribed above.
SSIPL strives hard to address major issues responsibly. From community relief and rehabilitation in times of disasters to educational opportunities, health and wellness programmes for the needy as well as its employees by organizing medical check-up camps, blood test, HIV awareness camps from time to time. Besides we also organize plantation activities in and around our manufacturing facilities, in which our employees and localities participate voluntarily which gives them a sense of participation and pride that they have contributed to their environment.
We make sure that our social initiatives touch every level of society that needs our help and makes the world a better place to live.
SSIPL Retail Limited
POLICY ON MATERIALITY FOR THE DISCLOSURES MADE IN THE OFFER DOCUMENT:-
The Company shall disclose all the litigations involving the issuer/ its directors/ promoters/ group companies/ subsidiaries related to:
(i) All criminal proceedings;
(ii) All actions by statutory / regulatory authorities;
(iii) Taxation - Separate disclosures regarding claims related to direct and indirect taxes, in a consolidated manner giving details of number of cases and total amount;
(iv) All other pending litigations;
except, the consolidated disclosures which shall be given in the offer document for consumer cases and various FIR’s filed by the company.
B. GROUP COMPANIES
Group Company(ies) shall be considered to be material if the transaction / transactions to be entered into individually or taken together with previous transactions during a financial year exceed ten percent of the annual consolidated turnover of the company as per the last audited financial statements of the company.
The Company shall make relevant disclosure before the Audit Committee/ Board as required by the applicable law.
C. OUTSTANDING DUES TO CREDITORS
The Company shall make relevant disclosures in the offer document for such creditors as referred hereinunder;
(i) Consolidated information on outstanding dues to small scale undertakings (SSI) and Micro Small & Medium Enterprises (MSME), separately giving details of number of cases and amount involved if the same exceeds the threshold limit of Rs. 1 lac and the credit period of 45 days as applicable in the law;
(ii) Complete details about outstanding dues to other creditors if the amount due to any one of them exceeds 10% of the totaloutstanding towards creditors of the Company as per the last audited financial statements of the company.
The details of outstanding creditors as on Sep 30, 2015 is given below:
- For Small Scale Industries (SSI) and Micro Small & Medium Enterprises (MSME) - For identification of suppliers and service providers belonging to Micro, Small & Medium Enterprises in terms of provisions of the Micro, Small & Medium Enterprises Development Act, 2006, the company has sent letters to the suppliers and service providers to obtain the necessary information during the year and awaiting response from the vendors and service providers. Pending information from the suppliers and service providers, the outstanding liability towards parties belonging to Micro, Small & Medium Enterprises can neither be reliably estimated nor disclosed.
- For details of other creditors who have more than 10% of total amount, outstanding towards them, please refer to the table below:
|(` in millions)|
|Name of Creditor||No. of Creditors||Amount Outstanding||% to Total amount outstanding towards creditors|
|Nike India Pvt. Ltd.||1||707.62||56.09%|
|Total Creditors as per Balance Sheet||323||1,261.50||100.00%|