MIRA INFORM REPORT

Report No. :	337613
Report Date :	20.08.2015

IDENTIFICATION DETAILS

Name :	EVERTON TEA INDIA PRIVATE LIMITED
Registered Office :	No. 102, Gangadhar, Chetty Road, Bangalore-560042, Karnataka
Tel. No.:	91-8576-226656
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	05.04.2011
Com. Reg. No.:	08-057977
Capital Investment / Paid-up Capital :	Rs. 9.868 Million
CIN No.: [Company Identification No.]	U15541KA2011PTC057977
IEC No.:	0711020302
TAN No.: [Tax Deduction & Collection Account No.]	BLRE05835E
PAN No.: [Permanent Account No.]	AACCE6765F
Legal Form :	Private Limited Liability Company
Line of Business :	Processor and Trader of Green Tea, Black Tea, Coffee and Other Beverages.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 60000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 2011 and it is the processor and trader of green tea, black tea, coffee and other beverages. It is the subsidiary of Everton S.P.A., Italy and has moderate track. Management of the subject has failed to file its latest financial with government department for FY2014. However, according to 2013 financials, the company has maintained its profitability but its overall financial position seems to be moderate with low net worth base and leverage balance sheet profile of the company. Trade relations are reported to be fair. Business is active. Payment terms are reported to be slow but correct. In view of the absence of the latest financials , the company can be considered for business dealings with some cautions.

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 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY

Name :	Ms. Pushpa
Designation :	Accountant
Contact No.:	91-8576-226656
Date :	19.08.2015

LOCATIONS

Registered Office :	No. 102, Gangadhar, Chetty Road, Bangalore-560042, Karnataka, India
Tel. No.:	91-8576-226656
Mobile No.:	91-9000821842 (Munipradap)
Fax No.:	91- 8576-226652
E-Mail :	everton.india@evertonspa.it
Website :	http://www.evertonspa.it
Factory:	270, Pliston Drive, Sri City, S.E.Z., Sathyavedu Mandal, Andhra Pradesh, India

DIRECTORS

AS ON: 26.07.2011

Name :

Mr. Filippo Dodero

Designation :

Director

Address :

Vico Chiuso Pareto Lorenz No. 6, Genevo (GE), Genova-16121, , Italy

Date of Birth/Age :

04.06.2006

Date of Appointment :

27.05.2011

DIN No.:

03531876

Name :

Mr. Federico Dodero

Designation :

Director

Address :

Via Federico Delpino No. 28, INT 11, Genevo-16121, Italy

Date of Birth/Age :

12.09.1980

Date of Appointment :

27.05.2011

DIN No.:

03531879

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15541KA2011PTC057977	EVERTON TEA INDIA PRIVATE LIMITED	Director	27/05/2011	27/05/2011	-	Active	NO
2	U74999TZ2014PTC020161	S AND E DISTRIBUTION PRIVATE LIMITED	Director	13/02/2014	13/02/2014	-	Active	NO

Name :

Mr. Gaia Donelli

Designation :

Director

Address :

Via Giordano Bruno No. 42, INT 6, Genova-16121, Italy

Date of Birth/Age :

31.05.1991

Date of Appointment :

03.06.2011

DIN No.:

03537722

Name :

Mr. Rohan Sunil Gunawardhana

Designation :

Director

Address :

No.15-1, Attapattu Road, Dehiwala, Colombo-000012, Sri Lanka

Date of Birth/Age :

16.12.1955

Date of Appointment :

13.06.2011

DIN No.:

03562300

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15541KA2011PTC057977	EVERTON TEA INDIA PRIVATE LIMITED	Director	13/06/2011	13/06/2011	-	Active	NO
2	U74999TZ2014PTC020161	S AND E DISTRIBUTION PRIVATE LIMITED	Director	08/03/2014	08/03/2014	-	Active	NO

Name :

Ramesh Janakiram Subramaniam

Designation :

Additional director

Address :

A-3/1, Venkateswara Building, 13^th Cross Street, Besant Nagar, Chennai- 600090, Tamil Nadu, India

Date of Birth/Age :

06.04.1950

Date of Appointment :

26.07.2013

DIN No.:

00684708

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51102TN1996PLC034121	GRAZIELLA SHOES LIMITED	Director	15/06/1999	15/06/1999	16/06/2008	Amalgamated	NO
2	U99000TN1989NPL016779	INDO-AUSTRALIAN CHAMBER OF COMMERCE	Director	27/09/2010	27/09/2010	03/09/2013	Active	NO
3	U93090TN1984NPL010786	INDIA-ASEAN-SRI LANKA CHAMBER OF COMMERCE AND INDUSTRY	Director	29/09/2010	29/09/2010	28/09/2012	Active	NO
4	U15541KA2011PTC057977	EVERTON TEA INDIA PRIVATE LIMITED	Additional director	26/07/2013	26/07/2013	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Pushpa
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 26.07.2011

Names of Shareholders	No. of Shares
Everton Spa, Italy	986400
Riccardo Donnelli	400
Total	986800

Equity Share Break up (Percentage of Total Equity)

AS ON: 26.07.2011

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Processor and Trader of Green Tea, Black Tea, Coffee and Other Beverages.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	Italy
Imports :	Not Available
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Retailers and End Users

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

100 (Approximately)

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWING
Loan HSBC IMA 200712 (Loan Borrowed in Euro)	33.381	0.000
Loan HSBC NASA Mach 271012 (Loan Borrowed in Japanese Yen)	9.212	0.000
Loan HSBC Sollas Mach 200712 (Loan Borrowed in Euro)	4.346	0.000
Loan Credit Agricole Sollass Machinery	4.274	0.000
SHORT TERM BORROWING
Credit Agricole Bank	36.576	0.000
HSBC bank	8.739	0.000
Interest Payable on Long Term Borrowing	0.129	0.000
Total	96.657	0.000

Auditors :
Name :	Kalyaniwalla and Mistry Chartered Accountants
Address :	No. 102, II Floor, Gangadhar Chetty Road, Bangalore-560042, Karnataka, India
PAN No.:	AAAFK7554R
Memberships :	Not Available
Collaborators :	Not Available
Mother Concern: (As confirmed by the management)	Everton Spa, Italy

CAPITAL STRUCTURE

AS ON: 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1250000	Equity Shares	Rs.10/- each	Rs. 12.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
986800	Equity Shares	Rs.10/- each	Rs. 9.868 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	9.868	9.868
(b) Reserves & Surplus	9.946	4.964
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	19.814	14.832
(3) Non-Current Liabilities
(a) long-term borrowings	51.213	0.000
(b) Deferred tax liabilities (Net)	3.290	0.078
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	54.503	0.078
(4) Current Liabilities
(a) Short term borrowings	45.444	0.000
(b) Trade payables	24.554	7.367
(c) Other current liabilities	83.945	96.942
(d) Short-term provisions	2.216	0.041
Total Current Liabilities (4)	156.159	104.350
TOTAL	230.476	119.260
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	121.648	64.056
(ii) Intangible Assets	0.064	0.058
(iii) Capital work-in-progress	2.770	13.632
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	1.007	5.315
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	125.489	83.061
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	58.483	33.550
(c) Trade receivables	26.509	1.120
(d) Cash and cash equivalents	6.138	1.135
(e) Short-term loans and advances	13.857	0.394
(f) Other current assets	0.000	0.000
Total Current Assets	104.987	36.199
TOTAL	230.476	119.260

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012
	SALES
	Revenue from operations	197.151	12.685
	Other Income	8.110	1.294
	TOTAL	205.261	13.979
Less:	EXPENSES	194.851	13.781
	PROFIT/ (LOSS) BEFORE TAX	10.410	0.198
Less:	TAX	5.427	0.119
	PROFIT/ (LOSS) AFTER TAX	4.983	0.079
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	187.750	12.685
	TOTAL EARNINGS	187.750	12.685
	IMPORTS
	Raw Materials	101.709	33.947
	Capital Goods	39.539	53.718
	TOTAL IMPORTS	141.248	87.665
	Earnings / (Loss) Per Share (Rs.)	5.05	0.11

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA
Cash generated from operations	NA	NA
Net cash flow from (used in) operations	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.53	0.62
Return on Total Assets (PBT/Total Assets}	(%)	4.57	0.19
Return on Investment (ROI) (PBT/Networth)		0.53	0.01
Debt Equity Ratio (Total Debt /Networth)		4.88	0.00
Current Ratio (Current Asset/Current Liability)		0.67	0.35

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Share Capital	9.868	9.868
Reserves & Surplus	4.964	9.946
Net worth	14.832	19.814
long-term borrowings	0.000	51.213
Short term borrowings	0.000	45.444
Total borrowings	0.000	96.657
Debt/Equity ratio	0.000	4.878

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Revenue from operations	12.685	197.151
		1,454.206

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Million)	(Rs. In Million)
Revenue from operations	12.685	197.151
Profit	0.079	4.983
	0.62%	2.53%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last two years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

THE COMPANY AND ITS OPERATIONS:

Everton Tea India Private Limited (the company) is a Private Company domiciled in India and was incorporated under the Provision of Companies Act, 1956 on 5th April, 2011. The Company is a 100% export oriented unit located in Sri City in a Special Economic Zone. This is the Second year of operations of the company. The company is engaged in the business of processing tea, coffee, and other beverages. It is a subsidiary of Italy based company, EVERTON SPA.

INDEX OF CHARGES:

No Charges Exist for the company

FIXED ASSETS:

• Leasehold Land
• Factory Building
• Plant and Machinery
• Furniture and Fixture
• Vehicles
• Office Equipment
• Computer

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 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. 65.25
UK Pound	1	Rs. 102.25
Euro	1	Rs. 72.20

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	HEN
Report Prepared by :	THR

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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	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
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.