MIRA INFORM REPORT
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Report Date : |
02.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
EVEREST INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
45, Udyog Bhavan, Sonawala Road, Goregaon, Mumbai – 400063,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
04.06.1996 |
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Com. Reg. No.: |
11-99972 |
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CIN No.: [Company
Identification No.] |
U32200MH1996PTC099972 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUME04257B |
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PAN No.: [Permanent
Account No.] |
AAACE1827C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributors for Blackberry and Sony Ericsson and Importers of
Chemicals used or Industries. |
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 : |
USD 120000 |
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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 company having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Anil Chaudhary |
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Designation : |
Director |
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Contact No.: |
91-9820004646 |
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Date : |
01.10.2008 |
LOCATIONS
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Registered Office : |
45/72, Udyog Bhavan, Sonawala Road, Goregaon, Mumbai – 400063,
Maharashtra, India |
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Tel. No.: |
91-22-26864646 |
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Mobile No.: |
91-22-26866935/ 26864646/ 56905693 |
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Fax No.: |
91-9820004646 |
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E-Mail : |
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Corporate Office : |
1/C, Laxmi Commercial Co-operative Society, Jaiprakash Road No. 1,
Opposite Canara Bank, Goregaon (East), Mumbai – 400063, Maharashtra, India |
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Tel. No.: |
91-22-26864646 |
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Mobile No.: |
91-9820602178 |
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Fax No.: |
91-22-26864646 |
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Email : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Anil Chaudhary |
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Designation : |
Director |
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Address : |
101/102, Blmount Building, Lokhandwala Complex, Andheri (West), Mumbai
– 400053, Maharashtra, India |
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Date of Birth/Age : |
08.11.1959 |
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Qualification : |
BSC, DME |
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Date of Appointment : |
04.06.1996 |
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Name : |
Mrs. Anju Chaudhary |
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Designation : |
Director |
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Address : |
101/102, Blmount Building, Lokhandwala Complex, Andheri (West), Mumbai
– 400053, Maharashtra, India |
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Date of Birth/Age : |
13.11.1967 |
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Qualification : |
B. Com |
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Date of Appointment : |
25.08.1997 |
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Name : |
Miss. Dipna Chaudhary |
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Designation : |
Director |
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Address : |
101/102, Blmount Building, Lokhandwala Complex, Andheri (West), Mumbai
– 400053, Maharashtra, India |
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Date of Birth/Age : |
26.04.1987 |
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Qualification : |
MBA |
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Date of Appointment : |
01.07.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Anil Chaudhary |
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511600 |
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Anju Anil Chaudhary |
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53200 |
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Dipna anil Chaudhary |
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18000 |
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Naresh Goomer |
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250200 |
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Kiran Ajwani |
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41000 |
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Ideal Speciality Chemicals Private Limited |
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41000 |
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Sanjay Khurana |
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85000 |
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Total |
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1000000 |
(As on 31.03.2007)
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Category |
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Percentage
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Directors or relatives of directors |
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83.30 |
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Others |
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16.70 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributors for Blackberry and Sony Ericsson and Importers of
Chemicals used or Industries. |
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Imports : |
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Products : |
Chemicals |
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Countries : |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
L/C and Cash |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
25 |
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Bankers : |
Goregaon Branch, Shivgiry Plot No.11, Samant Estate, Goregaon (East),
Mumbai - 400063, Maharashtra, India
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Facilities : |
They enjoy CC and LC facilities amount at given |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P. D. Desai and Associates Chartered Accountant |
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Address : |
1, Radha Apartment, 1st Floor, Telli Park, Road, Andheri,
Mumbai – 400069, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.000 |
1.760 |
1.760 |
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2] Share Application Money |
0.050 |
0.000 |
0.000 |
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3] Reserves & Surplus |
13.750 |
10.263 |
5.643 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
23.800 |
12.023 |
7.403 |
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LOAN FUNDS |
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1] Secured Loans |
20.023 |
7.125 |
1.115 |
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2] Unsecured Loans |
32.181 |
28.095 |
5.328 |
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TOTAL BORROWING |
52.204 |
35.220 |
6.443 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
76.004 |
47.243 |
13.846 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.928 |
4.416 |
4.941 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.111 |
0.093 |
0.020 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
49.417
|
25.004 |
16.848 |
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Sundry Debtors |
28.209
|
23.991 |
8.345 |
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Cash & Bank Balances |
4.703
|
5.198 |
2.064 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
13.856
|
3.676 |
1.132 |
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Total
Current Assets |
96.185
|
57.869 |
28.389 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
21.218
|
15.135 |
19.517 |
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Provisions |
7.002
|
0.000 |
0.000 |
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Total
Current Liabilities |
28.220
|
15.135 |
19.517 |
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Net Current Assets |
67.965
|
42.734 |
8.872 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.013 |
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TOTAL |
76.004 |
47.243 |
13.846 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
724.900 |
188.150 |
121.516 |
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Other Income |
0.433 |
0.418 |
0.128 |
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Total Income |
725.333 |
188.568 |
121.644 |
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Profit/(Loss) Before Tax |
8.505 |
7.513 |
2.048 |
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Provision for Taxation |
3.275 |
2.893 |
0.754 |
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Profit/(Loss) After Tax |
5.230 |
4.620 |
1.294 |
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Expenditures : |
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Financial Charge |
4.664 |
1.358 |
0.708 |
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Depreciation & Amortization |
1.084 |
0.613 |
0.913 |
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Other Expenditure |
711.080 |
179.084 |
117.975 |
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Total Expenditure |
716.828 |
188.055 |
119.596 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.72
|
2.45 |
1.06 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.17
|
3.99 |
1.69 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.17
|
12.06 |
6.14 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.62 |
0.28 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.38
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4.19 |
3.51 |
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Current Ratio (Current Asset/Current Liability) |
|
3.41
|
3.82 |
1.45 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Sony Ericsson
Form 8:
|
Corporate
identity number of the company |
U32200MH1996PTC099972 |
|
Name of the
company |
EVEREST INTERNATIONAL PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
45, Udyog Bhavan, Sonawala Road, Goregaon, Mumbai – 400063,
Maharashtra, India |
|
This form is for |
Creation of charge |
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Type of charge |
Book Debts Movable Property Stocks |
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Particular of
charge holder |
Bharat Co-operative Bank Goregaon Branch, Shivgiry Plot No.11, Samant Estate, Goregaon (East),
Mumbai - 400063, Maharashtra, India |
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Nature of
instrument creating charge |
Agreement of
Hypothecation of Tangible Movable Property Agreement for
creation the charge on Book Debts (Both the
documents constitute as single charge) |
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Date of
instrument Creating the charge |
26.04.2008 |
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Amount secured by
the charge |
Rs.5.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Interests rate
and other commission charges as may be agreed by the borrow company with the
Bank. Terms of
Repayment: As agreed by the
borrow company with the Bank. Margin: As agreed by the
borrow company with the Bank Extent and
Operation of the charge: At the request of
the borrower company the bank has sanctioned bank guarantee limits of
Rs.5.000 Millions against the first and hypothecation of stock of raw
materials , finished goods, book debts and receivable and other movable
assets of the company (both present and future) |
|
Particulars of
the property charged |
At the request of
the borrower company the bank has sanctioned bank guarantee limits of
Rs.5.000 Millions against the first and hypothecation of stock of raw
materials , finished goods, book debts and receivable and other movable
assets of the company (both present and future) |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.96 |
|
UK Pound |
1 |
Rs.83.91 |
|
Euro |
1 |
Rs.66.36 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|