MIRA INFORM REPORT

Report Date :

05.04.2012

IDENTIFICATION DETAILS

Name :	OBSCHESTVO S OGRANICHENNOY OTVETSTVENNOSTYU "AGROFIRMA "GAVRISH" I K"
Registered Office :	2-nd Khutorskaya str., 11, bldg. 1, Moscow, 127287, Russian Federation
Country :	Russia
Financials (as on) :	01.01.2011
Date of Incorporation :	2009
Legal Form :	OOO (Limited Liability Company by Russian Law)
Line of Business :	Sales of seeds.
No. of Employees :	15

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	50 000 USD
Status :	Moderate
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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 and the telephone numbers mentioned in your inquiry belong to the company Obschestvo s ogranichennoy otvetstvennostyu "AGROFIRMA "GAVRISH" I K" (name in English: AGROFIRM "GAVRISH" AND C" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "AGROFIRMA "GAVRISH" I K"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	2009
Sales	205 309 th RUR for 12 months, ended 01.01.2011
Employees	15 on April, 03, 2012 (company's data)

Creditline Recommendations

Credit Limit

50 000 USD

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "AGROFIRMA "GAVRISH" I K"
Short Name	OOO "AGROFIRMA "GAVRISH" I K"
Name in English	"AGROFIRM "GAVRISH" AND C" LIMITED LIABILITY COMPANY
Address	2-nd Khutorskaya str., 11, bldg. 1, Moscow, 127287, Russian Federation
Legal Address	Kastanaevskaya str., 13, bldg. 2, office 9, Moscow, 121096, Russian Federation
Phone	+7 (499) 7608030, 7608475 +7 (495) 6041870, 6041871
Fax	+7 (495) 6041870, 6041871
E-mail	info@gavrish.ru
WEB Address	www.gavrish.ru
History	03.03.2010: Legal Address changed from Kosmonavta Volkova str., 5, bldg. 1, Moscow, 127299, Russian Federation

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	16.02.2009
Registration Number	1097746074260
Statistic Code (OKPO)	89655001
Taxpayer Code (INN)	7743734396
Registration Authority	Federal Tax Service of Russian Federation

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "AGROFIRMA "GAVRISH" I K" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

20 000 RUR

Shareholders

Total	5 private persons
Shareholder	Mr Gavrish Sergey Fedorovich
Nationality	Russian Federation
Address	Baryshikha str., 25, bldg. 2, ap. 174, Moscow, 123627, Russian Federation
Date of Birth	07.11.1950
Taxpayer Code (INN)	771501277190
Share	61 %
Shareholder	Mr Morev Viktor Vasil'evich
Nationality	Russian Federation
Address	Dmitrovskoe shosse, 41, bldg. 2, ap. 16, Moscow, 127550, Russian Federation
Date of Birth	01.08.1951
Taxpayer Code (INN)	771303233458
Share	12 %
Shareholder	Ms Volok Ol'ga Anatol'evna
Nationality	Russian Federation
Address	Baryshikha str., 46, ap. 268, Moscow, 123627, Russian Federation
Date of Birth	15.03.1958
Taxpayer Code (INN)	773303171942
Share	12 %
Shareholder	Ms Amcheslavskaya Elena Valentinovna
Nationality	Russian Federation
Address	Baryshikha str., 46, ap. 270, Moscow, 123627, Russian Federation
Date of Birth	24.02.1958
Taxpayer Code (INN)	773304407206
Share	12 %
Shareholder	Ms Degovtsova Tat'yana Vladimirovna
Nationality	Russian Federation
Address	Severnaya str., 3, Dolgoprudniy, Moscow Region, Russian Federation
Date of Birth	22.03.1969
Taxpayer Code (INN)	500800273811
Share	3 %

Directors

Director	Mr Landyshev Vladimir Vladimirovich
	Signature Right
Nationality	Russian Federation
Address	Opytnoe Pole str., 53, ap. 5, Kotelniki, Moscow Region, 140055, Russian Federation
Date of Birth	10.11.1970
Taxpayer Code (INN)	502704345619

Re-Registration Data

Date of Registration	16.02.2009
	(Entering into the Single State Register of Legal Entities)
Registration Number	1097746074260
Registration Authority	Federal Tax Service of Russian Federation
Date of Re-registration	09.12.2009
File Number	8097748117976
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	03.03.2010
File Number	7107746888143
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address

Operations

Activities	Sales of seeds. The company OOO "AGROFIRMA "GAVRISH" I K" with the related companies form the group of companies "GAVRISH". The group of companies "GAVRISH" is engaged in selection of grades and hybrids of vegetable cultures for industrial production, farms and vegetable growers-fans. The group of companies "GAVRISH" is engaged in seed-growing of vegetable cultures.
Staff Employed	15 on April, 03, 2012 (company's data)
Employees' History	5 on June, 14, 2010 (company's data)

Real Estate

Own	None
Rent	Office Address: 2-nd Khutorskaya str., 11, bldg. 1, Moscow, 127287, Russian Federation (company's data) Warehouse Address: Skladochnaya str., 3, bldg. 5, Moscow, 127018, Russian Federation (company's data)

Export & Import

Export Countries	2011: Iran, Egypt, Saudi Arabia, Tunisia, Ukraine 2010: Egypt, Saudi Arabia, Tunisia 2009: Egypt, Saudi Arabia
Exported Goods	seeds, equipment
Export Value	in 2011: 376 959 USD in 2010: 140 036 USD in 2009: 177 661 USD
Import Countries	2011: Lithuania, China, Germany, Czech Republic, Jordan, India, Korea, France, Denmark 2010: Finland, Lithuania, China, Czechia 2009: Lithuania, China, Germany, Czech Republic, Jordan, India
Imported Goods	seeds
Import Value	in 2011: 2 084 397 USD in 2010: 3 776 048 USD in 2009: 759 330 USD

Branches

Branch

According to the company's administration the group of companies "GAVRISH" has got branches situated at the following cities of Russian Federations: Krasnodar, Krasnogorsk, Tula and also in Kiev (Ukraine) and Minsk (Belarus).

Participation

Information

None

Related Companies

Information

Mr Gavrish Sergey Fedorovich is also the shareholder of companies: OOO "ABRYUTINSKIE DVORIKI" Registration number: 1107154000073 OOO "ALEKSINSKIY SEMENOVODCHESKIY TSENTR "GAVRISH" Registration number: 1077146002757 OOO "AGROFIRMA GAVRISH" Registration number: 1037739560760 OOO "SELEKTSENTR "GAVRISH" Registration number: 1082337000206 OOO "KARLSON" Registration number: 1057748004302 OOO "GS "GAVRISH" Registration number: 1087746706189 OOO "ALEKSINSKIY SELEKTSIONNIY TSENTR "GAVRISH" Registration number: 1067146009688 OOO "ALEKSINSKIY PITOMNIK "GAVRISH" Registration number: 1107154000140 OOO "OVOSCHTSVET" Registration number: 5077746958416 OOO "ELITSIDS" Registration number: 5067746759086 OOO "AGROSET' "GAVRISH" Registration number: 1077758612568 OOO "KRYMSKIY TORGOVIY DOM "GAVRISH" Registration number: 1072337001351 OOO "KRYMSKIY SELEKTSIONNIY TSENTR "GAVRISH" Registration number: 1042320797650 OOO "GAVRISH" Registration number: 1107746122384 Ms Volok Ol'ga Anatol'evna, Mr Morev Viktor Vasil'evich and Ms Amcheslavskaya Elena Valentinovna are also the shareholders of companies: OOO "SELEKTSENTR "GAVRISH" Registration number: 1082337000206 OOO "ALEKSINSKIY SEMENOVODCHESKIY TSENTR "GAVRISH" Registration number: 1077146002757 OOO "KARLSON" Registration number: 1057748004302 OOO "AGROSEMGAVRISH" Registration number: 1127746133130 Ms Degovtsova Tat'yana Vladimirovna isn't a shareholder of any other companies in Russian Federation. The company OOO "AGROFIRMA "GAVRISH" I K" with the related companies form the group of companies "GAVRISH".

Bankers

Bank	KOMMERCHESKIY BANK "LUBYANKA" (OOO) (Russian Federation)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12
Ended	01.01.2011	01.01.2010
Currency	RUR	RUR
SALES	205309	50389
Cost of Goods sold	203540	49987
GROSS PROFIT	1769	402
Distribution Costs
Management Costs
OPERATING PROFIT	1769	402
Non Trading Income	633	-142
PRE TAX PROFIT	2402	260
Taxation	503	52
PROFIT AFTER TAX	1899	208

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2011	01.01.2010
Currency	RUR	RUR
TOTAL FIXED ASSETS	586	20
Intangible Assets	534
Fixed Assets	52
TOTAL CURRENT ASSETS	137469	54898
Stock	116846	39487
Trade debtors	20133	15396
Cash	2	14
TOTAL ASSETS	138055	54918
TOTAL EQUITY	2127	228
Share Capital	20	20
Retained Profits	2107	208
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	135928	54690
Short Term Loans
Short Term Trade Creditors	135928	54690
TOTAL EQUITY & LIABS	138055	54918

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2011	01.01.2010
Current Ratio	1,01	1
Working Capital, x1000 RUR	1541	208
Quick Ratio	0,15	0,28
Debt to Equity Ratio	63,91	239,87
Current Assets Turnover	1,49	0,92
Total Assets Turnover Ratio	1,49	0,92
Pre Tax Profit Margin, %	1,17	0,52
Gross Profit, %	0,86	0,8
Return on Investment, %	112,93	114,04
Return on Assets, %	1,74	0,47

Clients & Suppliers

Clients	OOO GAVRISN (Ukraine) ARKAN ALL MEMWBER FOR AGRICULTURE, TRADING EAST (Iran) MICR AGRICULTURAL DEVELORMENT COMRANY (Egypt) MOON AGRICULTURE COMRANY (Saudi Arabia) GRUPPA KOMPANIY "KHIT SEZONA" (Russian Federation) KOMPANIYA VILMORIN (Russian Federation) KOMPANIYA "AGROOPTTORG" (Russian Federation) OOO "FLORA RS" (Russian Federation)
Suppliers	INOVA SEEDS (GANSU) CO. LTD (China) FIRM BEIJING AUTENTIK SID CO. LTD (China) FIRM V. LEGUTKO (Lithuania) FIRM N.L.HRESTENSEN GMBH (Germany) FIRM "CHEM ZADEN BV" (Finland) FIRM JSN SEMENTSES (Czechia) *** 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

The information of Arbitration court of Moscow about judicial claims is presented

Date of registration	20.04.2011
Registration number	A40-41646/2011
Plaintiff	OOO "AGROFIRMA "GAVRISH" I K"
Defendant	Pension fund of Russian Federation
Claim sum	30 822 USD
Claim category	Economic disputes

Publications

Date	2012
Source	The Federal Tax Service of Russian Federation
Text of Publication	The Federal Tax Service of Russian Federation has published the information that Mr Gavrish Sergey Fedorovich (as private person) does't have not paid taxes.
Date	2012
Source	The Federal Tax Service of Russian Federation
Text of Publication	The Federal Tax Service of Russian Federation has published the information that Mr Landyshev Vladimir Vladimirovich (as private person) does't have not paid taxes.
Date	2012
Source	The Federal Tax Service of Russian Federation
Text of Publication	The Federal Tax Service of Russian Federation has published the information that Mr Morev Viktor Vasil'evich (as private person) does't have not paid taxes.

Original Financial Data (Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2010	as at 01.01.2011
I. NON-CURRENT ASSETS
Intangible assets	110	-	534
Fixed assets	120	-	52
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	20	-
Total section I	190	20	586
II. CURRENT ASSETS
Inventories	210	39487	116846
including :
raw materials and other inventories	211	15864	30667
livestock	212	-	-
work in progress	213	248	344
finished goods and goods for resale	214	21980	83903
goods dispatched	215	1331	1840
expenses related to future periods	216	64	92
other supplies and expenditures	217	-	-
Value added tax on purchased goods	220	1	488
Accounts receivable (payments expected beyond 12 months after the reporting date)	230	-	-
including :
buyers and customers	231	-	-
Accounts receivable (payments expected within 12 months after the reporting date)	240	15396	20133
including :
buyers and customers	241	15358	20051
Short-term investments	250	-	-
Monetary assets	260	14	2
Other current assets	270	-	-
Total section II	290	54898	137469
TOTAL SECTIONS I and II	300	54918	138055
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	20	20
Treasury shares	411	-	-
Additional capital	420	-	-
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	208	2107
Total section III	490	228	2127
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-
Deferred tax liabilities	515	-	-
Other non-current liabilities	520	-	-
Total section IV	590	-	-
V. CURRENT LIABILITIES
Borrowings	610	-	-
Accounts payable	620	54690	135928
including :
suppliers and contractors	621	49885	133547
salaries payable	622	146	171
payable to state non-budget funds	623	-	80
taxes payable	624	77	134
other creditors	625	4582	1996
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	54690	135928
TOTAL SECTIONS III,IV,V	700	54918	138055

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2011	01.01.2010
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	205309	50389
Cost of goods, products, work, services sold	020	203540	49987
Gross profit	029	1769	402
Selling expenses	030	-	-
Administrative expenses	040	-	-
Profit (loss) from operations	050	1769	402
OTHER INCOME AND EXPENSES
Interest income	060	-	-
Interest expenses	070	-	-
Income from investments in other companies	080	-	-
Other operating income	090	6445	2718
Other operating expenses	100	5812	2860
Non-operating income	120	-	-
Non-operating expenses	130	-	-
Profit (loss) before profit tax	140	2402	260
Deferred tax assets	141	-	-
Deferred tax liabilities	142	-	-
Current profit tax	150	503	52
Net profit (loss) for the reporting period	190	1899	208
Rates of Exchange

RUR - Russian Rouble	01.01.2011:   1 EUR = 40.49 RUR,   1 USD = 30.35 RUR
EUR - EURO	01.01.2010:   1 EUR = 43.46 RUR,   1 USD = 30.19 RUR
USD - US Dollar	01.01.2009:   1 EUR = 41.43 RUR,   1 USD = 29.39 RUR

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.04
UK Pound	1	Rs.81.08
Euro	1	Rs.67.39

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.