MIRA
INFORM REPORT
|
Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MMI INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Lalanni Aura, 5th Floor, 34th Road, Khar (West),
Mumbai – 400 052, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
13.09.2007 |
|
|
|
|
Com. Reg. No.: |
11-174081 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.625 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92400MH2007PTC174081 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM32801G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM2461F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the Business of Organizing and Conducting Trade
Fairs, Conference, Conventions and Complimentary Services of any Kind. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 191000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported to be fair. Business is active. Payment are reported
to be usually correct and as per commitment. The company can be considered for business dealing at usual trade term
and condition. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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
31-03-2012.
LOCATIONS
|
Registered Office : |
Lalanni Aura, 5th Floor, 34th Road, Khar (West),
Mumbai – 400 052, Maharashtra, India |
|
Tel. No.: |
91-22-42554700/ 26487117 |
|
Fax No.: |
91-22-42554719/ 26487114 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 28.06.2011
|
Name : |
Klaus Herbert Dittrich |
|
Designation : |
Director |
|
Address : |
Drachenseestr.3, Muenchen - 81373, Germany |
|
Date of Birth/Age : |
14.04.1955 |
|
Date of Appointment : |
10.03.2008 |
|
DIN No.: |
02017291 |
|
|
|
|
Name : |
Norbert Hermann Kurt Bargmann |
|
Designation : |
Director |
|
Address : |
Rosenhem, Austrasse, 13D, Rosenheim - 83022 |
|
Date of Birth/Age : |
11.10.1952 |
|
Date of Appointment : |
24.06.2010 |
|
DIN No.: |
02924216 |
|
|
|
|
Name : |
Reinhold Unterburger |
|
Designation : |
Director |
|
Address : |
Apt Block 50, Bayshore Road 20-06, Singapore, 469977 |
|
Date of Birth/Age : |
01.05.1957 |
|
Date of Appointment : |
13.06.2008 |
|
DIN No.: |
02155944 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
MMI Asia PTE. Limited, Singapore |
|
781250 |
|
Messe Muenchem GMBH, Germany |
|
781250 |
|
Total |
|
1562500 |
Equity Share Break up (Percentage of Total Equity)
As on 28.06.2011
|
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 : |
Subject is engaged in the Business of Organizing and Conducting Trade Fairs,
Conference, Conventions and Complimentary Services of any Kind. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Hinesh R. Doshi and Company Chartered Accountants |
|
Address : |
102, A-Wing, Rajgir Court, 6 Kohinoor Road, Near Pritam Hotel, Dadar
(East), Mumbai – 400 014, Maharashtra, India |
|
PAN No.: |
AACFH3118C |
|
|
|
|
Holding Company: |
Messe Muenchen GMBH, Germany |
CAPITAL STRUCTURE
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1562500 |
Equity Shares |
Rs.10/- each |
Rs.15.625 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
15.625 |
15.610 |
15.555 |
|
|
2] Share Application Money |
0.000 |
0.015 |
0.015 |
|
|
3] Reserves & Surplus |
32.311 |
16.511 |
14.697 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
47.936 |
32.136 |
30.267 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.376 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.376 |
|
|
DEFERRED TAX LIABILITIES |
0.021 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.957 |
32.136 |
30.643 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.283 |
1.020 |
1.330 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.041 |
0.014 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
12.927 |
15.524 |
2.926 |
|
|
Cash & Bank Balances |
25.114 |
22.877 |
26.403 |
|
|
Other Current Assets |
0.000 |
1.035 |
0.000 |
|
|
Loans & Advances |
22.436 |
8.561 |
3.972 |
|
Total
Current Assets |
60.477 |
47.997 |
33.301 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.647 |
0.915 |
0.195 |
|
|
Other Current Liabilities |
5.669 |
16.007 |
0.572 |
|
|
Provisions |
2.487 |
0.000 |
3.235 |
|
Total
Current Liabilities |
14.803 |
16.922 |
4.002 |
|
|
Net Current Assets |
45.674 |
31.075 |
29.299 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.957 |
32.136 |
30.643 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL
|
104.934 |
46.017 |
71.294 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
80.852 |
43.330 |
47.460 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) |
24.082 |
2.687 |
23.834 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.282 |
0.873 |
8.341 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
15.800 |
1.814 |
15.493 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.511 |
14.697 |
(0.796) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
32.311 |
16.511 |
14.697 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
36.090 |
16.966 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
|
|
|
|
|
Basic |
10.12 |
1.16 |
27.01 |
|
|
|
Diluted |
10.12 |
1.16 |
26.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
25.18
|
3.94 |
21.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
38.37
|
5.48 |
68.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.08 |
0.79 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.31
|
0.53 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.09
|
2.84 |
8.32 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three 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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note: The Registered
office of the company has been shifted from 23, Deccan Court, S.V.Road, Bandra
(West), Mumbai-400050, Maharashtra, India to the present address w.e.f.
15.03.2010
BUSINESS OPERATIONS AND FUTURE OUTLOOK:
Considering the favourable economic condition
prevailing in India which has resulted into substantial increase in
international trade, overall industrial growth and substantial improvement of
the people’s standard of living, the Company’s business is expected to rise
substantially in the years to come.
In the year 2010 two new shows (dti and
Intersolar India) were launched and proved to be very successful.
PROFILE:
MESSE MÜNCHEN
INTERNATIONAL - INDIA
As part of its international
strategy, Messe München founded its own affiliated company in India with a
registered office in Mumbai, in September 2007. MMI India Private Limited has
been founded to provide Messe München with timely and competent organisational
support for its increasing involvement in India.
electronica India and productronica
India are held in conjunction, annually. They are India's and South-Asia's
leading fairs for electronic components, systems and applications along with
electronics manufacturing and production technologies. Together the entire
value-added chain of the electronics industry is presented.
LASER World of PHOTONICS INDIA
revolves around innovative products as well as their industrial solutions and
applications, which reflects actual developments in the industry around the world.
LASER World of PHOTONICS INDIA intends to boost growth of the Indian laser
industry by focussing on the industry's leading technologies. It offers
opportunities to exhibitors and visitors alike.
Intersolar India is a continuation
of the world's largest series of exhibitions by Intersolar, held in Munich, San
Francisco and Shanghai. Intersolar India focuses on photovoltaics and solar
thermal technologies. Exhibitors include PV cell, module and inverter
manufacturers, components and mounting systems suppliers, manufacturing system
suppliers, service companies as well as manufacturers of solar thermal
applications including heating and cooling, among others.
drink technology India is a biennial
tradefair for beverage and liquid food technology. It encompasses the entire
spectrum from Aseptic systems, Filling and packaging technology, Packaging
materials, PET technology, Process technology and process automation, Raw
materials/additives, Restaurant and catering equipment
India Automation Technology Fair
(IATF) is an event jointly organised by MMI India and Automation Industry
Association (AIA). IATF, is designed as a premier Asian B2B event with
participation from India and across the world. Companies will showcase emerging
technologies in electrical automation, mechanical automation, robotics, machine
vision, assembly and material handling systems, sensors, controllers,
actuators, communication devices, HMI, software, simulation, training, and a
host of interface and supporting sub-systems that will enhance the
effectiveness of automation investment.
bC Expo India Private Limited a
Joint Venture between MMI Group and AEM, organizes the biennial BAUMA CONEXPO
SHOW in India, bC India focussing on the machinery industry for construction,
building material, mining, construction vehicles and construction equipment.
In the coming years MMI India
Private Limited will include more verticals keeping in mind its international
expansion strategy.
With 6 subsidiaries abroad - in Europe
and in Asia - and 66 foreign representatives covering 9 countries, MMI has a
network that spans the globe.
FIXED ASSETS:
·
Vehicles
·
Furniture and Fixtures
·
Computers
·
Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.55.34 |
|
|
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
|
|
|
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 |
6 |
|
--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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.