EVERESTIMs Technologies Limited: 88.77% Revenue, 99.62% Purchases

EVERESTIMs Technologies Limited reported dependence on limited counterparties in Fiscal 2026: its 10 largest customers generated 88.77% of revenue, while its 10 largest suppliers accounted for 99.62% of purchases. The risk disclosure says growth depends on continuity of arrangements with these long-standing customer and supplier relationships.

How concentrated is EverestIMS across customers and suppliers?

EverestIMS is concentrated at both the revenue and purchasing ends of its operations, with supplier concentration higher than customer concentration in Fiscal 2026. The top 10 customers generated Rs 57.8117 crore, or 88.77%, of Fiscal 2026 revenue, while the top 10 suppliers accounted for Rs 8.592 crore, or 99.62%, of total purchases. EverestIMS states that its dependence on arrangements with key customers and suppliers exposes it to risks if those relationships do not continue.

EverestIMS also relied heavily on its five largest counterparties in each group during Fiscal 2026. The top five customers contributed Rs 49.538 crore, equal to 76.07% of revenue, and the top five suppliers accounted for Rs 8.1709 crore, or 94.74%, of purchases. Based on the disclosed shares, suppliers ranked sixth through 10th represented 4.88 percentage points of purchases, compared with 12.70 percentage points of revenue from customers ranked sixth through 10th.

The Fiscal 2026 gap between the top-10 supplier share and the top-10 customer share was 10.85 percentage points. This difference means EverestIMS had a smaller residual pool of purchases outside its 10 largest suppliers, at 0.38%, than revenue outside its 10 largest customers, at 11.23%. The disclosure does not identify individual customers or suppliers, their contract values, or alternative sourcing arrangements.

How did EverestIMS customer concentration change over three fiscal years?

EverestIMS derived more than 86% of revenue from its top 10 customers in every disclosed year from Fiscal 2024 through Fiscal 2026. The top-10 customer share declined from 88.89% in Fiscal 2024 to 86.31% in Fiscal 2025, before increasing to 88.77% in Fiscal 2026. Revenue from the same group increased from Rs 40.2037 crore in Fiscal 2024 to Rs 57.8117 crore in Fiscal 2026.

EverestIMS's top-five customer share ranged from 73.80% in Fiscal 2025 to 76.07% in Fiscal 2026, a range of 2.27 percentage points. The amount generated by customers ranked sixth through 10th was Rs 6.6242 crore in Fiscal 2024, Rs 7.0701 crore in Fiscal 2025 and Rs 8.2737 crore in Fiscal 2026, calculated as the difference between the disclosed top-10 and top-five revenue figures. Thus, the increase in top-10 revenue over the three years was accompanied by continued reliance on the five largest customers.

How dependent is EverestIMS on its suppliers?

EverestIMS's top 10 suppliers accounted for at least 99.49% of purchases in all three disclosed fiscal years. The top-10 supplier share was 100.00% in Fiscal 2024, 99.49% in Fiscal 2025 and 99.62% in Fiscal 2026. Purchases from those suppliers increased from Rs 1.7997 crore in Fiscal 2024 to Rs 8.592 crore in Fiscal 2026.

EverestIMS's top-five supplier share changed more sharply than its top-10 supplier share. It fell to 76.37% in Fiscal 2025 from 90.29% in Fiscal 2024, then rose by 18.37 percentage points to 94.74% in Fiscal 2026. The Rs 6.0037 crore increase in purchases from the top five suppliers between Fiscal 2025 and Fiscal 2026 accounted for most of the Rs 6.6266 crore increase in purchases from the top 10 suppliers over that period.

Fiscal 2024 was the only disclosed year in which the top 10 suppliers represented all purchases, at 100.00%. In Fiscal 2025, the difference between the top-five and top-10 supplier shares was 23.12 percentage points, compared with 4.88 percentage points in Fiscal 2026. That comparison indicates that Fiscal 2026 purchasing was more concentrated within the five largest suppliers than Fiscal 2025 purchasing, although the top-10 group remained near-total in both years.

What could change EverestIMS's customer and supplier concentration risk?

EverestIMS says the loss of any key customer or supplier could materially and adversely affect its business operations and revenue. In Fiscal 2026, the affected relationship could sit within a customer group responsible for Rs 57.8117 crore of revenue or a supplier group responsible for Rs 8.592 crore of purchases. The stated mechanism is that EverestIMS's growth depends on the continuity of arrangements with its key counterparties.

The risk would persist if the customers and suppliers described as long-standing continue to represent similar proportions of revenue and purchases. EverestIMS expressly says there is no assurance that these relationships will continue at the same level in the future. A reduction in purchases from a supplier, loss of supply continuity, or reduced business from a customer would matter more where the relevant group accounts for 94.74% of purchases or 76.07% of revenue, as the top-five groups did in Fiscal 2026.

The three-year figures do not show broad diversification outside the largest 10 counterparties. Top-10 customer concentration moved within a 2.58-percentage-point range, from 86.31% to 88.89%, while top-10 supplier concentration moved within a 0.51-percentage-point range, from 99.49% to 100.00%. The disclosure provides no plan to reduce those percentages, so any future change would depend on the composition and scale of EverestIMS's customer revenue and supplier purchases.

Conclusion

EverestIMS's reported figures show substantial concentration on both sides of its commercial chain. Its top 10 customers supplied 88.77% of Fiscal 2026 revenue, and its top 10 suppliers represented 99.62% of purchases, with the supplier base more concentrated than the customer base. The top-five figures of 76.07% for revenue and 94.74% for purchases show that dependence is concentrated further within each top-10 group.

The unresolved matter is whether EverestIMS can maintain the long-standing relationships at the same level, which the company says it cannot assure. The next relevant disclosure would show whether the top-five and top-10 shares move from Fiscal 2026 levels of 76.07%, 88.77%, 94.74% and 99.62%, or whether the company reports changes in its arrangements with key customers or suppliers.