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Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
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Name : |
EVEREST GROUP NEPAL |
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Registered Office : |
P. O. Box No. 8 JanakpurDham,
Dhanusha |
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Country : |
Nepal |
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Date of Incorporation : |
03.02.1981 |
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Legal Form : |
Group Concern |
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Line of Business : |
Group Activity
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No. of Employees : |
3200 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March, 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Nepal |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
nepal - ECONOMIC OVERVIEW
Nepal is among the poorest and least developed countries in
the world, with about one-quarter of its population living below the poverty
line. Agriculture is the mainstay of the economy, providing a livelihood for
three-fourths of the population and accounting for a little over one-third of
GDP. Industrial activity mainly involves the processing of agricultural
products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has
considerable scope for exploiting its potential in hydropower, with an
estimated 42,000 MW of feasible capacity, but political instability hampers
foreign investment. Additional challenges to Nepal's growth include its
landlocked geographic location, civil strife and labor unrest, and its
susceptibility to natural disaster.
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Source
: CIA |
EVEREST
GROUP NEPAL
P. O. Box No.
8
JanakpurDham, Dhanusha,
Nepal
Tel: (977)
– 41- 20512, 20093, 22259
Fax: (977)
– 41 – 20317, 21021
Email: info@everestgroup.com.np
Main
Office : Pyukha, New
Road,
P. O. Box 2332,
Kathmandu, Nepal
Tel: (977)
– 1 – 225428, 240934/35
Fax: (977)
- 1 - 224565
Email: everest@ntc.net.np
Type of Concern: Group Concern
Year Establishment: 03.02.1981
Legal Status: Group Concern
Name of Directors: Mr. O. P. Saraff,
(Chairman)
Mr.
K. K. Saraff, (Managing Director)
Auditors: B. S. Khagaur
& Sons., Kathmandu, Nepal
Staff : 3200
Bankers: Nepal Bank
Limited
Standard
Chartered Bank Nepal Ltd..
Nepal Bangladesh Bank
Ltd.
Business: In the 40’s,
Late Sri Dina Nath Saraff, our founder father planted the seed of Everest Group
starting his own import-export firm “ Brij Mohan Dina Nath” in Janakpur, which
dealt initially in the import of clothing materials from India, Soda Ash
and various kinds of spices from Malaysia & Indonesia and export of rice to
India. Janakpur (birthplace of Goddess Sita, according to the epic, Ramayana)
was then a very small medieval settlement amidst disease infested forest. This
firm was to be the embryo of the present group.
He had subsequently acquired the sole agency of ESSO and of Brooke Bond tea in
the 50’s & 60’s for Nepal and started marketing their petroleum products
such as, Petrol, Diesel, LDO, engine oil, Kerosene oil etc. and tea
respectively. By mid 60’s he established another firm “ Everest Trading
Company” along with the JhunJhunwalas in Biratnagar, and started exporting Jute
to millers in India.
It was in the late 60’s that our founder father showed his charisma in opening
the door for industrialization when he established “Janakpur Soap Factory”,
manufacturing various grades of soap and marketing it under the famous brand
name “Natraj” and “OX”.
In the 70’s, our founder along with his son’s assistance established “Everest
Cardboard Industry Pvt. Ltd.”, first in the country to manufacture corrugated
boxes from Kraft paper imported from India and Sweden. During that phase,
he also established “Tiger Tea Company”. Tea was imported from India, blended
and packed in Nepal and marketed to the Nepalese consumers in the brand name
“Tiger”.
Thereafter, under our founder’s leadership, his great vision & strong
determination mingled with his son’s assistance, the group continued to
grow in its industrial and commercial endeavours. With investments in
well-diversified industries and a decicated management team, Everest Group
stands as one of the foremost industrial & trading houses in the Himalayan
Kingdom.
1. Various grades of writing &
printing paper
2. Pashmina
products such as Shawls, stoles, baby blankets and scarves.
3. PVC Battery Separators
4. Lead Oxide
5. Battery plates
6. Solder Wire / sticks
The following major raw materials are
imported on continuous basis to Calcutta (port) by our manufacturing units:
Everest Paper Mills Pvt Ltd.
1. Sodium Sulphite Anhydrous (Na2SO3);
Purity: 90% min.
Quantity: 200 MT / month
2. Waste Paper ( US publication Blank,
Hard White Shavings etc)
Quantity: 200 MT / month
.............
Everest Sugar & Chemical Industries
1. Refined Bright Yellow Crude Sulphur
; Purity: 99.9%
Quantity: 250 -300 MT / Annum
Everest Wire Industries
1. Copper Scrap (ISRI Berry,
BIRCH)
Qty: 200 MT / month
2. SCR Copper Rod ( 8 - 10 mm) -
ASTM B49/92
Qty: 100 MT / month
..........
Everest Moulding & Sintering Industries
.........
1. PVC Resin/powder ( k - 72)
Qty: 60 MT per month
......
Everest Non - Ferrous Metal Industries
1. Lead Ingots ( 99. 97 % min
purity)
Qty: 60 -80 MT / month
2. Tin Ingots (99.8% min
purity)
Qty: 20 -25 MT / month
Since the beginning, Om Impex Trade Link,
sister concern of Everest Group, has been enterprising in the fields
of trade and services, whether it be in the domestic markets or in the
international arena. The group has an enviable trading expertise and a
well-established marketing network all over the country.
Wide range of products imported, marketed,
distributed or indented in the country include Chemicals (Caustic Soda, Sodium
Sulphite, Chlorine and Soda Ash), Non-Ferrous Metals (DAEWOO & ZINSA), home
appliances (AUCMA, Singapore), office equipment, photographic / video cameras,
clothing materials and various consumer products (oil seeds, umbrellas, dry
fruits and nuts, spices etc.)
Chemical fertilizers such as DAP, MAP etc.
and Urea 46 are imported / indented from various countries to cater the
agricultural sector of Nepal. We also participate in government fertilizer tenders.
TRANSPORTATION
Nepal is a country with diverse geographical features and limited
infrastructure. Under such formidable conditions bulk transportation has always
proven to be extremely challenging.
Saraff Transport Service (STS), a sister concern, provides
transportation service of various goods and cargo in the country. STS is only
one of the very few transport service providers in the country who can be
relied for punctual delivery of customers’ goods. It is our network of branches
and highly qualified staff which make transportation from Indian seaports to
the remote areas of Nepal. We have branches and ware houses spread over the
major cities in Nepal and Calcutta (only port used for Nepal) to ensure easy
and systematic flow of goods from source to destination.
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Manufacturing Various grades of Writing & Printing Paper: |
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Manufacturing fine granulated white sugar |
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Manufacturing Super-Enameled Copper Wire |
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Manufacturing Premier quality Basmati & Mansuli Rice |
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Manufacturing PET preforms, PVC battery separator, etc. |
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Manufacturing solder wire/sticks, PbO |
Finance : Capital : Nepal Rs. 50 Crore
Turnover: Nepal
Rs. 80 Crore
Remarks :
Business may be done at usual trade terms & condition.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.69 |
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1 |
Rs.100.79 |
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Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.