MIRA
INFORM REPORT
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Report Date : |
09.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
EVEREST TRANSMISSION |
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Registered Office : |
B – 44, Maya Puri Industrial Area, Phase – I, New Delhi – 110064 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1980 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELE00462A |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturers of Twin Lobe Rotary Air Blowers [Roots Blowers] for air
gas applications, Mechanical Vacuum Boosters, Dry Vane Pumps, Acoustic Hoods
Allied Accessories. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Partners are reported as
experienced and respectable businessmen.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered / Corporate Office / Factory : |
B – 44, Maya Puri Industrial Area, Phase – I, New Delhi – 110064,
India |
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Tel. No.: |
91-11-28114944 / 28114955 / 28117469 / 28116307 |
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Fax No.: |
91-11-28116307 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. mt. [office : 2000 sq. ft.] |
PARTNERS
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Name : |
Mr. Yash Pal Kapur |
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Designation : |
Partner |
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Date of Birth/Age : |
65 years |
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Qualification : |
B.Sc., LLB |
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Experience : |
45 years |
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Name : |
Mr. Rajesh Malhotra |
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Designation : |
Partner |
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Date of Birth/Age : |
50 years |
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Qualification : |
B. Tec. |
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Experience : |
26 years |
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Name : |
Mr. Amit Kapur |
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Designation : |
Partner |
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Date of Birth/Age : |
35 years |
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Qualification : |
B.E., MBA |
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Experience : |
11 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Twin Lobe Rotary Air Blowers [Roots Blowers] for air gas
applications, Mechanical Vacuum Boosters, Dry Vane Pumps, Acoustic Hoods
Allied Accessories. |
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Products : |
Twin lobe type Large flow rates Medium pressures High volumetric efficiency Energy efficient Import substitute Dry pumping High pumping speeds Can be integrated easily into any Vacuum system Highly versatile Energy efficient Rotary vane type 100% oil free Graphite impregnated carbon vanes Forced air cooling Suitable for pressures upto 0.8 kg/sq.cm Modified for aquaculture & electroplating applications Extended bearing housing design Efficient air cooling of end plates Water jacketed end plates Suitables for high pressures Efficient thermal dissipation Designed for noise reduction Packages available for all blowers Custom made to requirement Designed for handling gases Leak proof design & construction Special sealing arrangement Integral SG iron rotor shaft assembly Extended bearing
housing design Large power to
size ratio Efficient air
cooling of end plates |
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Exports : |
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Products : |
Dry Vane Pumps |
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Countries : |
U.S.A., Singapore and Middle East, U.K., Australia, U.A.E., Iraq,
Maldives, Sri Lanka, Vietnam, Nepal, Bhutan and Bangladesh |
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Imports : |
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Products : |
Substitute Mechanical Vacuum Booster for Space Research |
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Terms : |
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Selling : |
L/C, D/A and D/P Local : Credit [30 days] – [More in Government Supply] |
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Purchasing : |
L/C, D/A and D/P Local : Cash or Credit [45 days] |
GENERAL
INFORMATION
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Customers : |
Indian Space Research Organization, Centre for Advanced Technology Bharat Heavy Electrical Limited Oil & Natural Gas Corporation of India National Thermal Power Corporation of India Maruti Udyog Ion Exchange [India] Limited Thermax Bechtel Daelim Mitsubishi Heavy Industries Tata Projects Toyo Engineering Holtech Consultants Triveni Engineering Mishra Dhatu Nigam Hero Honda Grasim Cadbury LG Polymers Aurobindo Pharma KLJ Wockhardt Heinz India Vam Organics SmithKline Beecham The Oberoi Wipro Cadbury India Limited |
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No. of Employees : |
150 |
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Bankers : |
HDFC Bank Limited Maya Puri, New Delhi – 110064, India Syndicate Bank Maya Puri, New Delhi – 110064, India |
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Banking
Relations : |
Satisfactory |
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Memberships : |
Indian Vacuum Society Quality Council of India Member Editorial Board – Pumps & Valves Magazine Member, International Association of Business Leaders |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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265.000 |
250.000 |
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Profit Before Tax |
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12% |
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Profit After Tax |
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8% |
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Expected Sales (2007-08) : Rs. 300.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Subject is an ISO 9001 : 2000 certified concern.
Representative Partner :
Tech Mar Con, Inc.
1901, East Carnegia Ave, Suit 1- J, Santa Ave CA
92705, U.S.A.
Website Details :
History :
1980
Set up ‘Everest
Transmission', to manufacture twin lobe rotary air compressors and blowers for
industries related to cement, chemicals, water treatment, electroplating, aqua
culture etc.
1985
Chosen as the
priority vendor by BHEL and entire Quality Management System designed &
implemented with the help of Vendor Development Cell of BHEL.
1985-1995
Bagged prestigious
orders from Industry giants like NTPC, Ion Exchange (India) Limited, Thermax,
Bechtel, Daelim, Mitsubishi Heavy Industries, BHEL, Tata Projects, Toyo
Engineering, ONGC, Holtech Consultants, IPCL, SGS, Degremont, Driplex,
Development Consultants, Grindwell Norton, Triveni Engg., VA Tech Wabag etc.
1993
Import Substitute
Mechanical Vacuum Booster developed & introduced to Indian Market for
vacuum metallizing, sputtering, space research
1998
Certified ISO 9001
Quality Management System by DNV, Norway.
1999
Introduced aqua
series blowers specially crafted for fish and prawn culture &
electroplating applications; New water cooled blower design introduced
2000
Met the technical
requirement of the Research Cell of Department of Atomic Energy, CAT, Indore
for supply of Mechanical Vacuum Boosters for chemical laser division. Developed
Model M450, EB6HPM & M5 Series Air Blowers.
2001
Begun exporting our
mechanical booster pumps and blowers to advanced countries such as USA,
Singapore and Middle East against stiff global competition.
2002
Dry Vane Pumps
introduced & expansion of exports to Singapore, UK, Australia, UAE, Iraq,
Maldives, Sri Lanka, Vietnam, Nepal, Bhutan, and Bangladesh.
2003
EXPO Series Air
Blowers introduced ; Appointed stockist’s in USA, Australia & UK.
2004
Developed Extended
Shaft Design Air Blowers. Introduced “Mechanical Vacuum boosters” (MVB’s) in
the Indian pharmaceutical & Chemical Industry and for waste oil
re-refining. Successfully designed, manufactured & supplied vacuum drying
systems to Cadbury India Limited.
2005
Vacuum System supplied
to National Institute of Ocean Technology for 0.1 MLD Low Temperature Thermal
Desalination Pilot Plant for producing potable water – First of its kind in the
world. Successfully installed at Kavaratti in Lakshadweep, India. Mechanical
Vapour Recompression systems developed & successfully installed.
2006
Successfully
designed, manufactured, & supplied World’s First 1 MLD Low Temperature
Thermal Desalination system for producing potable drinking water to National
Institute of Ocean Technology, Chennai, India. Introduced Back Flow Cooling
Rotary Air Blowers for VPSA (Vacuum Pressure Swing Adsorption) System.
Management Team :
Mr. Yash Pal Kapur
Career
Steps: Director, United Machine Tools Corporation (1965-Present) Managing
Director, Everest Transmission (1980-Present) Business
Background: Mr
Yash Pal Kapur started his career as a Director at United Machine Tools
Corporation engaged in manufacturing of “Everest” brand lathe machines. The
daredevil Managing Director of Everest Transmission, is a core opportunist who
ventured into the manufacture of Blowers and Booster when the industry had
negligible competition in the field owing to the magnanimous money requirement
and low returns as the customers were varied and widely scattered. Ensuring a
flexible technological base for Everest’s products to render custom manufacture
as well as pressing upon ongoing application oriented Research and Development,
he has been safe guarding the relevance of the products against the cutting
edge demands of all applications and targeting international penetration for
the business.
Associations & Honors: Received Industrialist of the Year award by
International Association of Lions Club in association with International
Lawyer Corporation on 11 Jan, 2002.
Education: Karori Mal College, Delhi University, B.Sc.
(1963), Law College, Delhi University, L.L.B. (1966)
Personal Information: Married with two children & four
grand children, Mr. Kapur stays current by reading & interacting with his
grand children.
Mr. Rajesh Malhotra
Career
Steps: Technical Director, Everest Transmission (1980-Present)
Business
Background: Mr Rajesh Malhotra, Director (Technical) of Everest
Transmission, enjoys more than 26 years of valuable experience in design and
manufacturing of twin lobe rotary air blowers for pressure, import substitutes
& Vacuum applications, with specialization in Mechanical Vacuum Boosters.
He is an esteemed member of the Indian Vacuum Society and a regular invitee to
impart his technical expertise to the industry. The intelligent efforts and
exemplary vision of Mr Malhotra realized the introduction of Mechanical Vacuum
Boosters in various applications relevant to chemical, pharmaceutical and
allied industries. He believes in meticulous implementation and revision of
processes to eventually zero down to the most efficient option. He believes in
learning and is always on look out for new applications for blowers &
boosters providing energy efficient solutions to the industry.
Associations
& Honors: Member, Indian Vacuum Society.
Education: Delhi
College of Engineering, Delhi University, B. Tech (Mechanical) (1979).
Personal Information: Married with two children Mr. Malhotra
stays current by reading & browsing the net.
Mr. Amit Kapur
Career
Steps: Director, Everest Transmission (1996-Present)
Business Background: Mr Amit Kapur, a keen Director of
Everest Transmission, is a professional expert in CAD Systems & Finite
Element Analysis (FEA). A graduate engineer with an MBA in marketing &
finance and a Certified Quality Professional he is heading an ISO 9001:2000
certified unit engaged in Design, Manufacturing and Testing of Twin Lobe Rotary
Air Blowers & allied equipment at Everest.
With degrees in business administration and mechanical
engineering, Mr. Kapur focuses his talents on new products and new applications
development, plus he takes charge of international business development.
Adhering to the corporate philosophy of “providing total process support,
in-depth technical backup, process valuation, customization of equipment” and
onsite staff training, Mr. Kapur ably meets the challenge of educating
customers on the use of the company’s products. A technical author regularly
published in leading industrial journals, he is widely regarded as an
authoritative source in the Indian mechanical engineering sector. Mr. Kapur
works ambitiously to make Everest Transmission the number one root blower
manufacturing company in the world. Personally, he plans “to increase his
skills in totality,” in order to become a top leader in his field of endeavor,
and to “do great things” for India’s industry.
Associations
& Honors: Indian Vacuum Society, World Aquaculture Society, ASSOCHAM,
Quality Council of India, Member Editorial Board – Pumps & Valves Magazine,
Life Member – International Association of Business Leaders.
Education:
Symbiosis Centre for Distance Learning, India, Master’s Degree in Business
Administration (Marketing & Finance) (2005); The International Standardized
Testing Organization, Switzerland, Certified Quality Professional (2002);
Manipal Institute of Technology, Bachelor’s Degree in Mechanical Engineering
(1995)
Personal
Information: Married with two children, Mr. Kapur stays current by
browsing the Internet for recent technological developments, attending quality
& management related seminars, reading industrial journals, studying new
courses & holidaying all over the world.
INDUSTRIES SERVED :
For Mechanical
Vacuum Boosters :
Industrial
Processing: Filling Automotive Fluid Systems, Inpregnating Windings, Drying
Textiles, Sterilizers Evacuating Refrigeration Systems , Holding &
Chucking, Central Systems for Electronic Assembly, Light Bulbs Manufacture, TV
Tubes Manufacture.
Chemical &
Pharmaceutical: Degassers, Vacuum Distillation, vaporators,Crystallizers, Vacuum
Filters, Vacuum Dryers.
Vacuum Furnace
Industry: Heat Treating, Hardening, Melting, OpticaCoating, Metallizing,
Degreasers.
Food Processing
Industry: Vacuum Packaging Fresh & Cooked Meats, Freeze Drying, Vegetable Oil
Processing, Sugar Refining, Poultry Evisceration, Vacuum Cooling.
Semiconductor
Industry: Crystal GrowingL, PCVDIon, Implantation, Sputtering, Plasma Deposition.
Electrical
Industry: Transformer Drying & Service, Transformer Oil Purifiers, Vapor Phase
Drying.
For Air & Gas Blowers :
Milling & Baking : Blending & Conveying
Resin & Plastic : Processing & Conveying
Power Generation : Fly Ash Conveying & Aeration
Chemical : Vacuum Processing & Conveying
Wastewater : Aeration & Backwashing
Pulp & Paper : Chip Conveying, & Process Vacuum
Cement & Lime : Fluidization & Conveying
Oil & Gas : Gas Collection & Sparging
Soil Remediation : Vacuum Extraction & Sparging
Dry Bulk Handling : Trailer Unloading & Extraction
Glass : Burner Air & Mould Cooling
Vacuum Loader : For emptying Septic Tanks
Aquaculture : Aeration for fish farm
Electroplating : Aeration of plating tanks
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.88 |
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UK Pound |
1 |
Rs.84.22 |
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Euro |
1 |
Rs.57.27 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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