MIRA INFORM REPORT

Report Date :

26.04.2012

IDENTIFICATION DETAILS

Correct Name :	OBSCHESTVO S OGRANICHENNOY OTVETSTVENNOSTYU SANTI
Registered Office :	Mira prosp., 69, bldg. 1, Moscow, 129110
Country :	Russia
Financials (as on) :	01.01.2011
Date of Incorporation :	19.11.2008
Com. Reg. No.:	1085047447099
Legal Form :	Limited Liability Company
Line of Business :	Sales of tea and coffee
No. of Employees :	25

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
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 "SANTI" (name in English: "SUNTY" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "SANTI"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	2008
Sales	2 358 234 th RUR for 12 months, ended 01.01.2011
Employees	25 on April, 26, 2012 (company's data)

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "SANTI"
Short Name	OOO "SANTI"
Name in English	"SUNTY" LIMITED LIABILITY COMPANY
Address	Berzarina str., 36, bldg. 2, Moscow, 123060, Russian Federation
Legal Address	Mira prosp., 69, bldg. 1, Moscow, 129110, Russian Federation
Phone	+7 (495) 3800214, 1927588, 5740225, 5741951
Fax	+7 (495) 3800214, 1927588, 5740225, 5741951
E-mail	marketing@grandmail.ru
WEB Address	www.grand-online.ru
History	30.12.2008: change of name from OOO "KIRMANTE-R" The company was formed through reorganization of company Zakrytoe aktsyonernoe obschestvo "KIRMANTE-R" (registration number: 1045009553445, taxpayer number (INN): 5047059337, date of registration: 24.03.2004) with change of legal status. The company is the legal successor of the company Zakrytoe aktsyonernoe obschestvo "KIRMANTE-R".

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	19.11.2008
Registration Number	1085047447099
Statistic Code (OKPO)	70473881
Taxpayer Code (INN)	7702371288
Registration Authority	Federal Tax Service of Russian Federation

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "SANTI" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

112 510 627 RUR (since 18.12.2009)

Shareholders

Total	1 legal person
Shareholder	SUNTY CO HOLDING LTD
Address	Cyprus
Registration Number	HE 216097
Share	100 %

Directors

Director	Mr Borisov Aleksandr Evgen'evich
	Signature Right
Nationality	Russian Federation
Address	Volokolamskoe shosse, 1, ap. 196, Moscow, Russian Federation
Date of Birth	10.12.1950
Taxpayer Code (INN)	773305060324

Re-Registration Data

Date of Registration	19.11.2008
	(Entering into the Single State Register of Legal Entities)
Registration Number	1085047447099
Registration Authority	Federal Tax Service of Russian Federation
Date of Re-registration	30.12.2008
File Number	2087766292865
Registration Authority	Federal Tax Service of Russian Federation
Changes	Name
Date of Re-registration	27.01.2009
File Number	2097746216313
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	01.04.2009
File Number	7097746991676
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	04.06.2009
File Number	2097747620914
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	18.12.2009
File Number	8097748573871
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules

Operations

Activities	Sales of tea and coffee. The company operates under trading name GRAND. The company sells goods under brands: «GRAND GOLD», «GRAND EXTRA», «GRAND PREMIUM», «IZUMRUDNYY OSTROV OTBORNYY», «VELIKIY TIGR OTBORNYY», «7 SLONOV», «GENERALISSIMUS».
Staff Employed	25 on April, 26, 2012 (company's data)
Employees' History	10 on July, 06, 2011 (company's data) 7 on July, 22, 2010 (company's data) 5 on March, 19, 2009 (company's data)

Real Estate

Own	None
Rent	Office Address: Berzarina str., 36, bldg. 2, Moscow, 123060, Russian Federation (company's data) Warehouse Address: Fabrichnaya str., 6, Moscow, Russian Federation (company's data) Warehouse Address: Mira str., 93, Mozhaysk, Moscow Region, Russian Federation (company's data) Warehouse Address: Zheleznodorozhnaya str., 8, Skhodnya, 8, Moscow Region, Russian Federation (company's data)

Export & Import

Export Countries	2011: Bangladesh
Exported Goods	equipment
Export Value	in 2011: 66 400 USD
Import Countries	2011: India, Ecuador, Germany, Sri Lanka, Vietnam, Switzerland, United Kingdom, Lithuania, China, Kenya, Spain, Poland 2010: India, Ecuador, Vietnam, Germany, Brazil, China, Great Britain 2009: India, Ecuador, Vietnam, Germany, Brazil, China,
Imported Goods	packaging equipment
Import Value	in 2011: 37 539 684 USD in 2010: 36 387 878 USD in 2009: 33 571 890 USD in 2008: none

Branches

Branch

The company has got branch situated at the following address: Address: Zheleznodorozhnaya str., 8, Skhodnya mkr., Khimki, Moscow Region, 141400, Russian Federation

Participation

Information

None

Related Companies

Information

The company SUNTY CO HOLDING LTD is also a shareholder of company: OOO "TITREYD" Registration number: 5087746371741 Mr Borisov Aleksandr Evgen'evich is also a shareholder of companies: ZAO "GRAND-IRKUTSK" Registration number: 1043801014014 OOO "SKHODNYA-GRAND" Registration number: 1035009566503 OOO "PM-69" Registration number: 1027739455655

Bankers

Bank	OAO BANK ZENIT, bank code: 044525272 (Russian Federation)
Account(s)	40702810800000006072 (RUR)

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	2358234	1707573
Cost of Goods sold	1690360	1276194
GROSS PROFIT	667874	431379
Distribution Costs	228730	173125
Management Costs	69014	36937
OPERATING PROFIT	370130	221317
Non Trading Income	-178860	3129
PRE TAX PROFIT	191270	224446
Taxation	40694	46636
PROFIT AFTER TAX	150385	177348

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	125928	141594
Intangible Assets	284
Fixed Assets	125629	141594
TOTAL CURRENT ASSETS	896425	886811
Stock	546413	452284
Trade debtors	340421	401902
Cash	4535	30839
TOTAL ASSETS	1022352	1028405
TOTAL EQUITY	300126	347545
Share Capital	112511	112511
Retained Profits	99363	146783
TOTAL LONG TERM LIABS	218607	394218
Long Term Loans	218600	394213
TOTAL CURRENT LIABS	503620	286642
Short Term Loans	185824	52002
Short Term Trade Creditors	317796	234640
TOTAL EQUITY & LIABS	1022352	1028405

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2011	01.01.2010
Current Ratio	1,78	3,09
Working Capital, x1000 RUR	392805	600169
Quick Ratio	0,69	1,52
Debt to Equity Ratio	2,41	1,96
Current Assets Turnover	2,63	1,93
Total Assets Turnover Ratio	2,31	1,66
Pre Tax Profit Margin, %	8,11	13,14
Gross Profit, %	28,32	25,26
Return on Investment, %	63,73	64,58
Return on Assets, %	18,71	21,82

Clients & Suppliers

Clients	AMBO EXPORT LTD (Bangladesh)
Suppliers	CIRMANTE TRADING LIMITED (Cyprus) TATA COFFEE LIMITED (Great Britain) SSL PRODUKTS (Germany) KHINDUSTAN YUNILEVER LTD (China) SSL PRODUKTS (INDIYA) LTD (India) V'ETNAM NATIONAL TI KORPOREYSHN (Vietnam) *** 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.

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 Borisov Aleksandr Evgen'evich (as private person) does't have not paid taxes.

Comments

The information about bank mentioned in our report belongs to the company Zakrytoe aktsyonernoe obschestvo "KIRMANTE-R" (registration number: 1045009553445, taxpayer number (INN): 5047059337, date of registration: 24.03.2004). The company Zakrytoe aktsyonernoe obschestvo "KIRMANTE-R" (registration number: 1045009553445) is the legal predecessor of the company OOO "SANTI".

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	-	284
Fixed assets	120	141594	125629
Construction in progress	130	-	-
Income-bearing investments in tangible assets	135	-	-
Long-term financial investments	140	-	-
Deferred tax assets	145	-	15
Other non-current assets	150	-	-
Total section I	190	141594	125928
II. CURRENT ASSETS
Inventories	210	452284	546413
including :
raw materials and other inventories	211	274189	323618
livestock	212	-	-
work in progress	213	273	148
finished goods and goods for resale	214	162903	209718
goods dispatched	215	12753	4247
expenses related to future periods	216	2166	8682
other supplies and expenditures	217	-	-
Value added tax on purchased goods	220	1786	4971
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	401902	340421
including :
buyers and customers	241	323347	305364
Short-term investments	250	-	-
Monetary assets	260	30839	4535
Other current assets	270	-	84
Total section II	290	886811	896425
TOTAL SECTIONS I and II	300	1028405	1022352
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	112511	112511
Treasury shares	411	-	-
Additional capital	420	88252	88252
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	146783	99363
Total section III	490	347545	300126
IV. NON-CURRENT LIABILITIES
Borrowings	510	394213	218600
Deferred tax liabilities	515	5	7
Other non-current liabilities	520	-	-
Total section IV	590	394218	218607
V. CURRENT LIABILITIES
Borrowings	610	52002	185824
Accounts payable	620	234640	317796
including :
suppliers and contractors	621	224642	305794
salaries payable	622	6632	69
payable to state non-budget funds	623	1500	1658
taxes payable	624	1856	9702
other creditors	625	11	573
Dividends payable to participants (shareholders)	630	1	-
Income of future periods	640	-	-
Reserves for future expenses and payments	650	-	-
Other current liabilities	660	-	-
Total section V	690	286642	503620
TOTAL SECTIONS III,IV,V	700	1028405	1022352

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	2358234	1707573
Cost of goods, products, work, services sold	020	1690360	1276194
Gross profit	029	667874	431379
Selling expenses	030	228730	173125
Administrative expenses	040	69014	36937
Profit (loss) from operations	050	370130	221317
OTHER INCOME AND EXPENSES
Interest income	060	-	53
Interest expenses	070	49362	35641
Income from investments in other companies	080	-	-
Other operating income	090	210772	234655
Other operating expenses	100	340270	195938
Non-operating income	120	-	-
Non-operating expenses	130	-	-
Profit (loss) before profit tax	140	191270	224446
Deferred tax assets	141	15	-457
Deferred tax liabilities	142	2	5
Current profit tax	150	40694	46636
Net profit (loss) for the reporting period	190	150385	177348

Additional information about related companies

Below is presented the extended information about the related companies of subject company.

Name	OOO "TITREYD"
Registration Number	5087746371741
Taxpayer code (INN)	7702688197

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12
Ended	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR
SALES	55818	31240	40
Cost of Goods sold	3631	4641	30
GROSS PROFIT	52187	26599	10
Distribution Costs	45982	18440
Management Costs
OPERATING PROFIT	6205	8159	10
Non Trading Income	-3507	-3860	-6
PRE TAX PROFIT	2698	4299	4
Taxation	747	1004	1
PROFIT AFTER TAX	1942	3295	3

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2011	01.01.2010	01.01.2009
Currency	RUR	RUR	RUR
TOTAL FIXED ASSETS	417	269	31
Intangible Assets
Fixed Assets	331	269	31
TOTAL CURRENT ASSETS	383167	418045	3868
Stock	542	144
Trade debtors	377682	417861	3789
Cash	4420	40	79
TOTAL ASSETS	383584	418313	3899
TOTAL EQUITY	5250	3308	13
Share Capital	10	10	10
Retained Profits	5240	3298	3
TOTAL LONG TERM LIABS	7
Long Term Loans
TOTAL CURRENT LIABS	378327	415006	3886
Short Term Loans	19699	44792
Short Term Trade Creditors	358628	370214	3886
TOTAL EQUITY & LIABS	383584	418313	3899

Name	OOO "SKHODNYA-GRAND"
Registration Number	1035009566503
Taxpayer code (INN)	5047035978

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12	12
Ended	01.01.2011	01.01.2010	01.01.2009	01.01.2008
Currency	RUR	RUR	RUR	RUR
SALES	63403	166052	224390	147756
Cost of Goods sold	59106	161868	214037	138190
GROSS PROFIT	4297	4184	10353	9566
Distribution Costs
Management Costs	226	385	591	654
OPERATING PROFIT	4071	3799	9762	8912
Non Trading Income	-490	-1959	-7961	-4454
PRE TAX PROFIT	3581	1840	1801	4458
Taxation	735	833	135	1372
PROFIT AFTER TAX	2846	1007	1666	3086

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2011	01.01.2010	01.01.2009	01.01.2008
Currency	RUR	RUR	RUR	RUR
TOTAL FIXED ASSETS	37045	33415	91973	54142
Intangible Assets
Fixed Assets	25913	22283	81708	44030
TOTAL CURRENT ASSETS	21820	27494	130888	78996
Stock	2105	2153	64645	3232
Trade debtors	8279	14043	55192	65140
Cash	744	569	346	49
TOTAL ASSETS	58865	60909	222861	133138
TOTAL EQUITY	54411	51494	51074	49409
Share Capital	8	8	8	8
Retained Profits	54310	51486	51066	49401
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	4454	9415	171787	83729
Short Term Loans		4181	73773	62628
Short Term Trade Creditors	4454	5234	98014	21101
TOTAL EQUITY & LIABS	58865	60909	222861	133138

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.52.49
UK Pound	1	Rs.84.66
Euro	1	Rs.69.25

INFORMATION DETAILS

Report Prepared by :

MNL

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.