MIRA INFORM REPORT

Report No. :	314458
Report Date :	28.03.2015

IDENTIFICATION DETAILS

Name :	EVEREST TANNERY PRIVATE LIMITED
Registered Office :	184-A, Jajmau, Kanpur - 208010, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.09.1993
Com. Reg. No.:	20-015719
Capital Investment / Paid-up Capital :	Rs.10.000 Million
CIN No.: [Company Identification No.]	U18201UP1993PTC015719
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	KNPE01019E
PAN No.: [Permanent Account No.]	AAACE6136G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of leather, leather goods, leather shoes, chappals, shoe uppers, harness leather and all types of footwear and other allied.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1250000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Mansoor Ahmed
Designation :	Director
Contact No.:	91-9839604021
Date :	27.03.2015

LOCATIONS

Registered Office / Unit 1:	184-A, Jajmau, Kanpur - 208 010, Uttar Pradesh, India
Tel. No.:	91-512-2460649 / 2463706 / 2464287 / 2464284
Mobile No.:	91-9839604021 (Mr. Mansoor Ahmed)
Fax No.:	91-512-2465722
E-Mail :	everestt@satyam.net.in
Website :	www.everesttannery.com
Unit 2:	A-41, UPSIDC Industrial Area,  Banthar, Unnao - 209 801, Uttar Pradesh, India
Tel. No.:	91-515-2824081

DIRECTORS

As on 16.09.2014

Name :

Mr. Mansoor Ahmed

Designation :

Director

Address :

184-A, Jajmau, Kanpur - 208010, Uttar Pradesh, India

Date of Appointment :

10.09.1993

DIN No.:

00692541

Name :

Mr. Nasir Mansoor

Designation :

Director

Address :

184-A, Jajmau, Kanpur - 208010, Uttar Pradesh, India

Date of Appointment :

25.07.2005

DIN No.:

01276019

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	U18201UP1993PTC015719	EVEREST TANNERY PRIVATE LIMITED	Director	25/07/2005	25/07/2005	-	Active	NO
2	U19116UP2009PTC038846	ESBECO TANNERY PRIVATE LIMITED	Director	04/12/2009	04/12/2009	15/12/2010	Active	NO

Name :

Mr. Shariq Mansoor

Designation :

Director

Address :

184-A, Jajmau, Kanpur - 208010, Uttar Pradesh, India

Date of Appointment :

23.09.2004

DIN No.:

01275914

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	U18201UP1993PTC015719	EVEREST TANNERY PRIVATE LIMITED	Director	23/09/2004	23/09/2004	-	Active	NO
2	U19116UP2009PTC038846	ESBECO TANNERY PRIVATE LIMITED	Director	04/12/2009	04/12/2009	15/12/2010	Active	NO

Name :

Mr. Adil Mansoor

Designation :

Director

Address :

184-A, Jajmau, Kanpur - 208010, Uttar Pradesh, India

Date of Appointment :

20.03.2001

DIN No.:

02656380

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	U18201UP1993PTC015719	EVEREST TANNERY PRIVATE LIMITED	Director	15/02/2004	15/02/2004	-	Active	NO
2	U19116UP2009PTC038846	ESBECO TANNERY PRIVATE LIMITED	Director	04/12/2009	04/12/2009	-	Active	NO

Name :

Mrs. Farhat Jabee

Designation :

Director

Address :

184-A, Jajmau, Kanpur - 208010, Uttar Pradesh, India

Date of Appointment :

10.09.1993

DIN No.:

02656388

MAJOR SHAREHOLDERS

As on 16.09.2014

Names of Shareholders	No. of Shares	% of Holding
Mansoor Ahmed	40000	20.00
Farhat Jabee	40000	20.00
Adil Mansoor	40000	20.00
Shariq Mansoor	40000	20.00
Nasir Mansoor	40000	20.00
Total	200000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 16.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of leather, leather goods, leather shoes, chappals, shoe uppers, harness leather and all types of footwear and other allied.
Products :	Belting Leather Upholstery Leather Leather Belts Bags Leather Shoes Chappals Shoe Uppers Accessories
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

Customers :

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

No. of Employees :

Information denied by management

Bankers :

State Bank of Saurashtra, Main Branch, Nai Sadak, Kanpur - 208001, Uttar Pradesh, India

Facilities :

--

Auditors :
Name :	Raj Mehrotra and Associates Chartered Accountants
Address :	17/5, Rolland Towers, The Mall, Kampur – 208001, Uttar Pradesh, India
PAN No.:	ABIP0039J
Memberships :	--
Collaborators :	--
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

As on 16.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
400000	Equity Shares	Rs.100/- each	Rs.40.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.100/- each	Rs.20.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	20.000	20.000	10.000
(b) Reserves & Surplus	416.186	366.946	297.869
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	436.186	386.946	307.869
(3) Non-Current Liabilities
(a) long-term borrowings	20.763	21.598	20.464
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	20.763	21.598	20.464
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	448.080	305.269	249.082
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	55.589	45.112	5.435
Total Current Liabilities (4)	503.669	350.381	254.517
TOTAL	960.618	758.925	582.850
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	216.046	205.988	179.308
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	4.792	1.792	1.642
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	220.838	207.780	180.950
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	292.966	221.560	130.890
(c) Trade receivables	305.274	169.203	191.635
(d) Cash and cash equivalents	64.409	63.098	38.746
(e) Short-term loans and advances	77.131	97.284	40.629
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	739.780	551.145	401.900
TOTAL	960.618	758.925	582.850

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL	1928.799	1531.021	NA
Less	EXPENSES		1778.965	1410.884	NA
	PROFIT/(LOSS) BEFORE TAX		149.834	120.137	NA
Less	TAX		51.189	0.000	NA
	PROFIT/(LOSS) AFTER TAX		98.645	120.137	NA
	Earnings / (Loss) Per Share (Rs.)		493.22	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	15.68	15.87	NA
Return on Investment (ROI) (PBT/Networth)		0.34	0.31	NA
Debt Equity Ratio (Total Debt /Networth)		0.05	0.06	0.07
Current Ratio (Current Asset/Current Liability)		1.47	1.57	1.58

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	10.000	20.000	20.000
Reserves & Surplus	297.869	366.946	416.186
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	307.869	386.946	436.186
Long Term borrowings	20.464	21.598	20.763
Short Term borrowings	0.000	0.000	0.000
Total borrowings	20.464	21.598	20.763
Debt/Equity ratio	0.066	0.056	0.048

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Total Income	1,531.021	1,928.799
		25.981

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million
Total Income	1,531.021	1,928.799
Profit	120.137	98.645
	7.85%	5.11%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	No
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Loans taken for other fixed assets	20.763	21.598
Total	20.763	21.598

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10079228	03/11/2007	15,000,000.00	State Bank of Saurashtra	Main Branch, Nai Sadak, Kanpur, Uttar Pradesh - 208001, India	A28812352
2	90277647	26/02/2004	4,000,000.00	State Bank of Saurastra	Nai Sarak Branch, Kanpur, Uttar Pradesh, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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 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.62.61
UK Pound	1	Rs.92.95
Euro	1	Rs.68.15

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	DIV
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

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.