MIRA INFORM REPORT

 

 

Report Date :

18.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

INDUSTRIAL-COMMERCIAL FIRM INSOFT LIMITED LIABILITY COMPANY

 

 

Registered Office :

Snegovaya str., 15A, Vladivostok, Primorskiy Kray, 690074

 

 

Country :

Russia

 

 

Financials (as on) :

01.01.2010

 

 

Date of Incorporation :

01.11.2002

 

 

Com. Reg. No.:

1022501283903

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale trade in foodstuff

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

300 000 USD

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

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, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Russia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Comments

 

 

Information

The address mentioned in your inquiry belongs to the company Obschestvo s ogranichennoy otvetstvennostyu PROIZVODSTVENNO-KOMMERCHESKAYA FIRMA "INSOFT" (name in English: INDUSTRIAL-COMMERCIAL FIRM INSOFT LIMITED LIABILITY COMPANY). We provide the report on this company.

 

 

 

Summary

 

 

Original Name

Obschestvo s ogranichennoy otvetstvennostyu PROIZVODSTVENNO-KOMMERCHESKAYA FIRMA "INSOFT"

Legal Form

OOO (Limited Liability Company by Russian Law)

Year of Foundation

1992

Sales

333 424 th RUR for 12 months, ended 01.01.2010

Employees

20 (approx.) on January, 16, 2011 (company's data)

 

 

 

Creditline Recommendations

 

 

Credit Limit

300 000 USD

 

 

 

Company Identification Details

 

 

Original Name

Obschestvo s ogranichennoy otvetstvennostyu PROIZVODSTVENNO-KOMMERCHESKAYA FIRMA "INSOFT"

Short Name

OOO PKF "INSOFT"

Name in English

INDUSTRIAL-COMMERCIAL FIRM INSOFT LIMITED LIABILITY COMPANY

Address

Snegovaya str., 15A, Vladivostok, Primorskiy Kray, 690074, Russian Federation

Legal Address

Snegovaya str., 15A, Vladivostok, Primorskiy Kray, 690074, Russian Federation

Phone

+7 (4232) 445430, 442401, 445432

Fax

+7 (4232) 441875

E-mail

insoft@vladivostok.ru

WEB Address

none

 

 

History

30.11.2006: Legal Address changed from Nerchinskaya str., 10, Vladivostok, Primorskiy Kray, 690106, Russian Federation

 

Official Company Data

 

 

Legal Form

OOO (Limited Liability Company by Russian Law)

Date of Registration

01.11.2002

Registration Number

1022501283903

Statistic Code (OKPO)

10225071

Taxpayer Code (INN)

2536002116

Registration Authority

Ministry for Taxes and Duties of Russian Federation

 

 

 

Public Record Information

 

 

Information

The company Obschestvo s ogranichennoy otvetstvennostyu PROIZVODSTVENNO-KOMMERCHESKAYA FIRMA "INSOFT" was not included in the published list of bankrupt companies.

 

 

 

Share Capital

 

 

Current Share Capital

1 000 010 RUR

 

 

 

Shareholders

 

 

Total

2 private persons

 

 

Shareholder

Mr Berezov Viktor Borisovich

Nationality

Russian Federation

Taxpayer Code (INN)

254000031356

Share

50 %

 

 

Shareholder

Mr Ryzhov Yuriy Dmitrievich

Nationality

Russian Federation

Share

50 %

 

 

 

Directors

 

 

Director

Mr Berezov Viktor Borisovich

 

Signature Right

Nationality

Russian Federation

Taxpayer Code (INN)

254000031356

 

 

 

Re-Registration Data

 

 

Initial Registration

20.10.1992

Registration Number

672

Registration Authority

Administration of Vladivostok

 

 

Date of Registration

01.11.2002

 

(Entering into the Single State Register of Legal Entities)

Registration Number

1022501283903

Registration Authority

Ministry for Taxes and Duties of Russian Federation

 

 

Date of Re-registration

30.11.2006

File Number

2062536175030

Registration Authority

Federal Tax Service of Russian Federation

Changes

Legal Address

 

 

Date of Re-registration

30.12.2009

File Number

2092538174639

Registration Authority

Federal Tax Service of Russian Federation

Changes

Company's Rules

 

 

 

Operations

 

 

Activities

Wholesale trade in foodstuff.

Export-import transactions.

The company is engaged in customs declaration of goods.

 

 

Staff Employed

20 (approx.) on January, 16, 2011 (company's data)

 

 

Real Estate

 

 

Own

none

 

 

Rent

Office, warehouse
Address: Snegovaya str., 15A, Vladivostok, Primorskiy Kray, 690074, Russian Federation
(company's data)

 

 

 

Export & Import

 

 

Export Countries

2007-2009, for 10 months 2010: No Export Activity

Exported Goods

none

Export Value

none

 

 

Import Countries

for 10 months 2010: India, China, Vietnam, Sri Lanka
2008-2009: India, China, Sri-Lanka, Vietnam, Thailand
2007: India, Sri-Lanka

Imported Goods

fruit, vegetables, tea

Import Value

for 10 months 2010: 4 539 445 USD
in 2009: 3 909 297 USD
in 2008: 4 379 772 USD
in 2007: 2 750 326 USD

 

 

 

Branches

 

 

Branch

None

 

 

 

Participation

 

 

Information

None

 

 

 

Related Companies

 

 

Information

Mr Berezov Viktor Borisovich and Mr Ryzhov Yuriy Dmitrievich aren't shareholders of any other companies of Russian Federation.

 

 

 

Bankers

 

 

Bank

OAO "MDM-BANK", Vladivostok branch, bank code: 040507839 (Russian Federation)

Account(s)

40702810400063000115 (RUR)

 

 

Bank

OAO "PRIMSOTSBANK", bank code: 040507803 (Russian Federation)

Account(s)

40702810700000004011 (RUR)

 

 

 

Financial Data

 

 

Profit and Loss (extract)

 

The following figures are shown in units of 1000

 

 

 

Period, months

12

12

12

12

Ended

01.01.2010

01.01.2009

01.01.2008

01.01.2007

Currency

RUR

RUR

RUR

RUR

SALES

333424

226104

184150

143294

Cost of Goods sold

288163

198916

163005

130623

GROSS PROFIT

45261

27188

21145

12671

Distribution Costs

13026

12596

8398

6106

Management Costs

 

 

 

 

OPERATING PROFIT

32235

14592

12747

6565

Non Trading Income

8824

730

676

2524

PRE TAX PROFIT

41059

15322

13423

9089

Taxation

8212

3701

3250

2227

PROFIT AFTER TAX

32847

11621

10173

6862

 

Balance Sheet (extract)

 

The following figures are shown in units of 1000

 

As at

01.01.2010

01.01.2009

01.01.2008

01.01.2007

Currency

RUR

RUR

RUR

RUR

TOTAL FIXED ASSETS

4634

5239

3956

4245

 Intangible Assets

 

 

 

 

 Fixed Assets

4634

5239

3956

4245

TOTAL CURRENT ASSETS

96954

58839

37045

33663

 Stock

38939

35549

17265

20920

 Trade debtors

43335

21060

13151

10961

 Cash

12207

1

4534

1261

TOTAL ASSETS

101588

64078

41001

37908

 

 

 

 

 

TOTAL EQUITY

82255

50175

38570

28438

 Share Capital

1000

1000

1000

1000

 Retained Profits

81126

49046

37441

27309

TOTAL LONG TERM LIABS

 

 

 

 

 Long Term Loans

 

 

 

 

TOTAL CURRENT LIABILITIES

19333

13903

2431

9470

 Short Term Loans

 

955

 

6000

 Short Term Trade Creditors

19333

12948

2431

3470

TOTAL EQUITY & LIABILITIES

101588

64078

41001

37908

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

01.01.2010

01.01.2009

01.01.2008

01.01.2007

Current Ratio

5,01

4,23

15,24

3,55

Working Capital, x1000 RUR

77621

44936

34614

24193

Quick Ratio

3

1,68

8,14

1,35

Debt to Equity Ratio

0,24

0,28

0,06

0,33

Current Assets Turnover

3,44

3,84

4,97

4,26

Total Assets Turnover Ratio

3,28

3,53

4,49

3,78

Pre Tax Profit Margin, %

12,31

6,78

7,29

6,34

Gross Profit, %

13,57

12,02

11,48

8,84

Return on Investment, %

49,92

30,54

34,8

31,96

Return on Assets, %

40,42

23,91

32,74

23,98

 

 

 

Clients & Suppliers

 

 

Clients

OOO "VEDES" (Russian Federation)

OOO "VINDOM" (Russian Federation)

OOO "TEKHMASHPROEKT" (Russian Federation)

OOO "PROMSERVIS" (Russian Federation)

OOO "TREYDMASTER" (Russian Federation)

OOO "KOMPLEKTENERGO" (Russian Federation)

OOO "NOVA" (Russian Federation)

 

 

Suppliers

MADHU JAYANTI INTERNATIONAL LTD. (India)

AIR SERVICES SUPPLY JOINT STOCK COMPANY (Vietnam)

DALIAN JIN FOODS CO., LTD. (China)

INTERNATIONAL AGRICULTURAL PROCESSING PVT. LTD. (India)

QUALITEA CEYLON LTD. (Sri-Lanka)

BHARATHI ASSOCIATES (India)

OOO "VELINA" (Russian Federation)

OOO "SITI-MARKET" (Russian Federation)

OOO "ATLANTA" (Russian Federation)

OOO "PROF - MASTER" (Russian Federation)

OOO "INLANTREYD" (Russian Federation)

OOO "KONTRANSERVIS" (Russian Federation)

*** The names of foreign partners may be pointed incorrectly as in official documents (declarations) they’re written in Russian. We present our apologies for possible mistakes in transliteration.

 

 

 

Actions at law

 

 

According to Arbitration court of Moscow judicial claims of the company are not registered.

 

 

 

Original Financial Data (Russian Accounting Report in English)

 

 

Balance Sheet

 

The following figures are shown in units of 1000

 

 
ASSETS

Line code

as at
01.01.2008

as at
01.01.2009

as at
01.01.2010

 

 

 

 

 

I. NON-CURRENT ASSETS

 

 

 

 

Intangible assets

110

-

-

-

Fixed assets

120

3956

5239

4634

Construction in progress

130

-

-

-

Income-bearing investments in tangible assets

135

-

-

-

Long-term financial investments

140

-

-

-

Deferred tax assets

145

-

-

-

Other non-current assets

150

-

-

-

Total section I

190

3956

5239

4634

II. CURRENT ASSETS

 

 

 

 

Inventories

210

17265

35549

38939

including :

 

 

 

 

 raw materials and other inventories

211

313

485

549

 livestock

212

-

-

-

 work in progress

213

467

1223

702

 finished goods and goods for resale

214

16485

33587

37574

 goods dispatched

215

-

-

-

 expenses related to future periods

216

-

51

-

 other supplies and expenditures

217

-

203

114

Value added tax on purchased goods

220

-

113

160

Accounts receivable (payments expected beyond 12 months after the reporting date)

230

127

127

-

including :

 

 

 

 

 buyers and customers

231

-

-

-

Accounts receivable (payments expected within 12 months after the reporting date)

240

13151

21060

43335

including :

 

 

 

 

 buyers and customers

241

12973

19854

41820

Short-term investments

250

-

-

-

Monetary assets

260

4534

1

12207

Other current assets

270

1968

1989

2313

Total section II

290

37045

58839

96954

TOTAL SECTIONS I and II

300

41001

64078

101588


 


 


 


 


 

EQUITY AND LIABILITIES

 

 

 

 

 

 

 

 

 

III. EQUITY AND RESERVES

 

 

 

 

Share capital

410

1000

1000

1000

Treasury shares

411

-

-

-

Additional capital

420

129

129

129

Legal reserve

430

-

-

-

including :

 

 

 

 

 reserves and provisions formed in
 accordance with legislation

431

-

-

-

 reserves formed in accordance
 with foundation documents

432

-

-

-

Retained earnings (loss)

470

37441

49046

81126

Total section III

490

38570

50175

82255

IV. NON-CURRENT LIABILITIES

 

 

 

 

Borrowings

510

-

-

-

Deferred tax liabilities

515

-

-

-

Other non-current liabilities

520

-

-

-

Total section IV

590

-

-

-

V. CURRENT LIABILITIES

 

 

 

 

Borrowings

610

-

955

-

Accounts payable

620

2431

12948

19333

including :

 

 

 

 

 suppliers and contractors

621

2198

12870

19161

 salaries payable

622

-

-

-

 payable to state non-budget funds

623

8

-

59

 taxes payable

624

165

37

56

 other creditors

625

60

41

57

Dividends payable to participants (shareholders)

630

-

-

-

Income of future periods

640

-

-

-

Reserves for future expenses
and payments

650

-

-

-

Other current liabilities

660

-

-

-

Total section V

690

2431

13903

19333

TOTAL SECTIONS III,IV,V

700

41001

64078

101588

 

PROFIT AND LOSS ACCOUNT

 

The following figures are shown in units of 1000

 

 
PARAMETER

Line code

 
01.01.2010

 
01.01.2009

 
01.01.2008

 

 

 

 

 

INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES

 

 

 

 

Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)

010

333424

226104

184150

Cost of goods, products, work, services sold

020

288163

198916

163005

Gross profit

029

45261

27188

21145

Selling expenses

030

13026

12596

8398

Administrative expenses

040

-

-

-

Profit (loss) from operations

050

32235

14592

12747

OTHER INCOME AND EXPENSES

 

 

 

 

Interest income

060

-

-

-

Interest expenses

070

53

58

372

Income from investments in other companies

080

-

-

-

Other operating income

090

12000

4041

2155

Other operating expenses

100

3123

3253

1107

Non-operating income

120

-

-

-

Non-operating expenses

130

-

-

-

Profit (loss) before profit tax

140

41059

15322

13423

Deferred tax assets

141

-

-

-

Deferred tax liabilities

142

-

-

-

Current profit tax

150

8212

3701

3250

Net profit (loss) for the reporting period

190

32847

11621

10173

 

 

Rates of Exchange

 

 

RUR - Russian Rouble

01.01.2010:    1 EUR = 43.46 RUR,   1 USD = 30.19 RUR

EUR - EURO

01.01.2009:    1 EUR = 41.43 RUR,   1 USD = 29.39 RUR

USD - US Dollar

01.01.2008:    1 EUR = 35.93 RUR,   1 USD = 24.55 RUR

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.59

UK Pound

1

Rs.72.31

Euro

1

Rs.60.73

 

 

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 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%)

 

 

 

 

 

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.