MIRA
INFORM REPORT
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Report Date : |
08.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ASIAN BUSINESS EXHIBITION & CONFERENCE |
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Registered Office : |
530-532, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri [West],
Mumbai, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.08.2002 |
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PAN No.: [Permanent
Account No.] |
ATZPS3217K |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business : |
Conference and Exhibition Organizer |
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 25000 |
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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 concern having satisfactory
track. Partners are reported as
experienced and respectable businessmen.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered / Head Office : |
530-532, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri [West],
Mumbai, Maharashtra, India |
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Tel. No.: |
91-22-26374034 – 39 / 40504900 |
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Mobile No.: |
91-9320066655 |
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Fax No.: |
91-22-26367676 |
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E-Mail : |
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Website : |
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Area : |
8000 sq. ft. |
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Location : |
Owned |
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Regional Offices : |
Konark No. 2, Row House No. 7, Viman Nagar, Pune – 410014 Mobile : 91-9820603890 Area : 800 sq. ft. Location : Leased C – 3 /11, S. D.A., Hauz Khas, New Delhi Mobile : 91-9820603890 Area : 1000 sq. ft. Location : Leased |
PARTNERS
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Name : |
Mr. Sumit Mohan Singh Gandhi |
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Designation : |
Partner |
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Address : |
54, Movie Towers, Oshiwara, Andheri [West], Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
33 years |
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Qualification : |
C.A. |
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Experience : |
13 years |
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Name : |
Mr. S. M. Singh Gandhi |
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Designation : |
Partner |
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Address : |
54, Movie Towers, Oshiwara, Andheri [West], Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
58 years |
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Qualification : |
B.A. |
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Experience : |
8 years |
KEY EXECUTIVES
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Name : |
Mr. Manish Mohan Singh Gandhi |
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Designation : |
Chief Executive Officer |
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Address : |
54, Movie Towers, Oshiwara, Andheri [West], Mumbai – 400058,
Maharashtra, India |
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Date of Birth/Age : |
29 years |
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Qualification : |
B.E. |
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Experience : |
8 years |
BUSINESS DETAILS
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Line of Business : |
Conference and Exhibition Organizer |
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Terms : |
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Selling : |
Credit [30 days] and 30% Advance balance Credit |
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Purchasing : |
Credit [30 days] |
GENERAL INFORMATION
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No. of Employees : |
70 |
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Bankers : |
HSBC Manish Garden, Mumbai Dena Bank Manish Nagar, Mumbai |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajesh Sanghvi Chartered Accountants |
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Address : |
104, Rizvi Chambers No. 2, Hill Road, Bandra [West], Mumbai – 400020 |
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Tel. No.: |
91-22-26437221 |
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Fax No.: |
91-22-26401890 |
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E-Mail : |
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Associates : |
Indian Exhibition & Conference 427, Lamxi Plaza, Laxmi Industrial Complex, Off New Link Road, Andheri
[West], Mumbai – 400058, Maharashtra, India Line of Business : Event Management Media Eleven 530, Laxmi Plaza, Laxmi Industrial Complex, Off New Link Road, Andheri
[West], Mumbai – 400053, Maharashtra, India Line of Business : Event Management & Advertisment Oil Asia Journal 530, Laxmi Plaza, Laxmi Industrial Complex, Off New Link Road, Andheri
[West], Mumbai – 400053, Maharashtra, India Line of Business : Publishing of a Magazine Oil Asia Emporium 530, Laxmi Plaza, Laxmi Industrial Complex, Off New Link Road, Andheri
[West], Mumbai Line of Business : Seminars and Exhibition |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.314 millions |
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Borrowed : |
Rs. 2.753 millions |
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Total : |
Rs. 7.067 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.295 |
1.044 |
1.053 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.295 |
1.044 |
1.053 |
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LOAN FUNDS |
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1] Secured Loans |
2.753 |
1.583 |
0.017 |
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2] Unsecured Loans |
2.020 |
0.000 |
0.000 |
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TOTAL BORROWING |
4.773 |
1.583 |
0.017 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.068 |
2.627 |
1.070 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.918 |
2.166 |
0.000 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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0.000 |
0.082 |
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Cash & Bank Balances |
5.675
|
0.368 |
0.747 |
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Other Current Assets |
0.061
|
0.107 |
0.173 |
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Loans & Advances |
0.100
|
0.194 |
0.100 |
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Total
Current Assets |
5.836
|
0.669 |
1.102 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.686
|
0.208 |
0.032 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
3.686
|
0.208 |
0.032 |
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Net Current Assets |
2.150
|
0.461 |
1.070 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.068 |
2.627 |
1.070 |
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PROFIT & LOSS
ACCOUNT
|
Particulars |
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31.03.2007
[Projected] |
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Sales Turnover |
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|
38.195 |
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
28.002 |
9.811 |
9.472 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
28.002 |
9.811 |
9.472 |
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Profit/(Loss) Before Tax |
2.045 |
0.485 |
0.629 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
2.045 |
0.485 |
0.629 |
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Total Expenditure |
25.957 |
9.326 |
8.843 |
KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
7.30
|
4.94 |
6.64 |
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Net Profit Margin (PBT/Sales) |
(%) |
7.30
|
4.94 |
6.64 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
19.01
|
17.10 |
57.07 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.89
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0.46 |
0.59 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.68
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1.71 |
0.04 |
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Current Ratio (Current Asset/Current Liability) |
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1.58
|
3.21 |
34.43 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference :
> Aari Fashions
Station Road, Vile Parle
[West], Mumbai – 400056, Maharashtra, India
Contact Person : Mr. Amit Shah
Tel. No. : 91-22-26127934
> Aimsite
5th Floor,
Chincholi Bunder, Malad [West], Mumbai – 400064
Contact Person : Mr. Praveen
Shah
Tel. No. : 91-22-28745984
WEBSITE DETAILS
Welcome to Asian Business Exhibitions &
Conferences, part of the Oil Asia Group.
A team of professional organizers for international exhibitions and
conferences in the Asian region.
Growing steadily with dedication and commitment to quality. They are one of the best names in the
business today.
Since 1993, they have been providing their
clients with access to global distribution networks through out well organized
and widely marketed events. Leveraging
on their strong relationships with the key industry players, government bodies
and trade associations, they have been securing business success for their
clients by playing a critical role in leading many firms to benchmark
themselves against the standards of international players.
In line with their motto ‘from concept to
completion’, they always give end-to-end marketing solutions, keeping their
clients at the forefront of market trends, giving them a competitive advantage
and edge in their respective industry at all times.
Making a large event successful by giving attention to small details
They believe that the business of organizing
exhibition is a fine combination of an art and a science, while they have the
accuracy to run things smoothly in large volumes, they have the aesthetics and
soft skills that bring out the soul of the event. From the venue selection to the smallest communication element
and from choosing the right kind of set up to using industry specific
mnemonics.
They ensure every event is different from each
in its own creative way, yet consistent in fundamentals like quality control
and process.
Their forte lies in providing clients with an
integrated package. They are a one stop
shop for the wide array, be it meetings, incentives, conventions and
exhibitions [MICE]. They cover it
all. They are able to offer you a full
suite of services, from conceptualizing, events logistics planning and
coordination, to soliciting partnerships with various public and private
agencies such that they fulfill the needs.
Their core competencies include :
Organizing Exhibitions / Conferences /
Seminars / Workshops
Co-organizing Events
Management and Coordination of Events
Aggressive Marketing and Sales Support for
Events
Design and Production of Event Collaterals – posters,
brochures, information booklets, media-coverage, electronic and print media
etc.
They have covered sectors like Telecom, Power,
Engineering, Architecture, Glass, Packaging, Machinery, Automation,
Petrochemicals, Education, Jewellery, Food, Hospitality, Garments, Textile, Hi
End Audio / Video, Pro AV, Electronics, Fire Safety and Security, Smart Cards,
IT among others.
Conferences and Exhibitions organized :
Glamour [Gold & Diamond Jewellery
Exhibition] – To catch an immense variety of glitters in one’s life Glamour is
one shop for all. To avail the best,
the market has to offer from the eminent jewelers or traditional jewelers.
Glamour is the biggest jewellery exhibition in India. The event provides a unique opportunity to enterprising jewellery
houses to explore new high growth markets and develop a new client base. Glamour exhibition made its first appearance
in 2002, since then there has been no looking back with more and more
celebrities joining the crowd each year.
Glitter [Hi End Designer Wear] – Glitter
Exhibits hi-end designer wear, exclusive diamond jewellery and lifestyle
accessories. The event covers the
entire spectrum when it comes to making a statement – suave to sassy and cool
to classy. The event is a live
opportunity to put before the world, the hours of creativity and passion in the
form of designer cloths, exquisite jewelleyr and lifestyle products. It has become of the most awaited consumer
events in the cities event calendar. To
add with, the event is highlighted with un-matched media coverage.
Shagun [Bridal Jewellery and Trousseau
Exhibition] – The mega Exhibition of Trousseau Collections, Bridal Jewellery –
Diamond and Gold Jewellery, Designer Wear, Gifts and Artifacts, Lifestyle
Accessories. India’s most spectacular wedding exhibition showcasing precious
jewellery, designer measnwear and a very special trousseau collection. Shagun is making a mark in bridal jewellery
and Trousseaux exhibition. This
targeted turnout at the exhibition is being leveraged by India’s leading
jewelers to expose the customers to their new designs and products and further
build their brands. Its truly a wedding
exhibition that brings forwardthe latest trends for the wedding season and a
one-stop-shop for prospective brides and grooms.
Education Boutique [International Education
and Career Fair] – An exhibition cum conference on education opportunities in
India and abroad. An event that covers
the various career choices available to students today, to help them secure a
better tomorrow. The exhibitors include
foreign universities, management institutes, unconventional course providers,
schools, education loan providers, migration consultants, publishers, internet
sites on education and coaching institutes.
It is the India’s largest education fair and is being organized in India
by ABeC for the past 5 years more than 400 exhibitions participate in it every
year and it is held in 16-25 cities of India during April – May June. It sees massive media coverage and highest
student turnout throughtout the nation.
Education Expo [International Education and
Career Fair] – Education Expo is an Internationl Education and Career
Fair. The event brings to you the
entire spectrum of courses on offer as well as the opportunity to talk to
academics and representatives of different institutions not only across the
country but even abroad. A place where
students aspiring for higher education, their parents, teachers, lecturers
& VIP’s from the field of education are the visitors in this exhibition.
Acetech [Construction Machinery, Equipment
Building Materials & Technologies Mega Exhibition & Conferences] – It
is a first of kits kinds complete construction industry supermall, where
convergence of Architecture, Construction and Engineering in the construction
industry is exhibited. Trade visitors
from all across the country and abroad participate to provide more business
networking opportunities to participants at the mega expo. The event comprises of a mega exhibition
spread over 30000 sq. mts as well as a parallel conference. It also incorporates ACE Bath & Kitchen
Expo, ACE Lights Expo, ACE Tiles, Marble & Stone Expo ACE Roofing &
Facades, ACE Hardware, Fixtures and Fittings Expo, ACE Paints & Coatings
Expo, ACE CON – MAC Expo which are all held in separate halls. This event is also known as Super 7 in the
construction industry.
AV Revolution [Consumer & Professional
Audio, Video Electronic Expo] – AV Revolution, the audio-video revolution aims
at making good business better. A truly
international hi-fi AV Expo, AV Revolution embraces all aspects of the home and
professional audio video hardware industry.
Such vast gathering of technology giants help people witness the great
sensory pleasure, which is rare to find in lessthan one roof. The best can be availed by the customer with
the competitive prices, and the best the industry can deliver within the
competitive market, is what AV Revolution presents. The participation gathers
over 70 major electronics companies and over 163 international brands, witnessing
grandeur with each passing year, since the year 2003, when it made its maiden
appearance. It sees a massive football
of over 180000 visitors in 3 major cities of India.
ET CONVERGEX 2007
is an exhibition of international proportions on Telecom related equipments and
technologies. The exhibition focuses on technology development &
advancement in this sector including the equipment suppliers, component
manufacturers, hardware & software solution providers. ET Convergex 2007
will help in bringing manufacturers of ancillaries to put up their plants in
India. The Highlights of ET Convergex 2007 will be showcasing the technology
development & advancement in Telecom sector, along with business meets to
promote investment in equipment & accessories manufacturing, Technical
Seminars & Conferences, and a CEO's Forum.
The Indian
telecommunications industry has evolved over the past five decades. Initially,
the industry was ruled by a single player, the Department of Telecommunications
(DoT), whose main aim was to provide basic telephony services. After
liberalization, as the number of players operating in the industry increased,
competition among them also intensified and value creation and innovation
became the new mantra of the telecom industry. Almost all telephony products
and services were designed keeping in mind the ease of use and affordability to
the consumers. Customers became the driving force for new service innovations.
The customer is no longer the King in the Indian Telecom industry, he is God!
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.44.27 |
|
UK Pound |
1 |
Rs.85.54 |
|
Euro |
1 |
Rs.58.23 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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/normal. |
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 |
|