MIRA INFORM REPORT

Report Date :

17.03.2012

IDENTIFICATION DETAILS

Name :	"PLANT BREEDING -SEEDS PRODUCTION FIRM "MANUL" LIMITED LIABILITY COMPANY
Registered Office :	Yaroslavskoe shosse, 116 A, bldg. 1, Mytischi, Moscow Region, 141009, Russian Federation
Country :	Russia
Financials (as on) :	01.01.2007
Date of Incorporation :	23.10.2002
Com. Reg. No.:	1025003524402
Legal Form :	OOO (Limited Liability Company by Russian Law)
Line of Business :	Engaged in Breeding and Seed Production of Vegetable Crops.
No. of Employees :	30

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 :	10 000 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 mentioned in your inquiry belongs to the company Obschestvo s ogranichennoy otvetstvennostyu "SELEKTSIONNO-SEMENOVODCHESKAYA FIRMA "MANUL" (name in English: "PLANT BREEDING -SEEDS PRODUCTION FIRM "MANUL" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "SELEKTSIONNO-SEMENOVODCHESKAYA FIRMA "MANUL"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	1993
Sales	29 001 th RUR for 12 months, ended 01.01.2007
Employees	30 (approx.) on March, 12, 2012 (company's data)

Creditline Recommendations

Credit Limit

10 000 USD

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "SELEKTSIONNO-SEMENOVODCHESKAYA FIRMA "MANUL"
Short Name	OOO "SELEKTSIONNO-SEMENOVODCHESKAYA FIRMA "MANUL"
Name in English	"PLANT BREEDING -SEEDS PRODUCTION FIRM "MANUL" LIMITED LIABILITY COMPANY
Address	Yaroslavskoe shosse, 116, Mytischi, Moscow Region, 141009, Russian Federation
Legal Address	Yaroslavskoe shosse, 116 A, bldg. 1, Mytischi, Moscow Region, 141009, Russian Federation
Phone	+7 (495) 5863255
Fax	+7 (495) 5863255
E-mail	info@manul.ru
WEB Address	www.manul.ru
History	09.02.2010: Legal Address changed from Yaroslavskoe shosse, 116, Mytischi, Moscow Region, 141009, Russian Federation

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	23.10.2002
Registration Number	1025003524402
Statistic Code (OKPO)	23520759
Taxpayer Code (INN)	5029024290
Registration Authority	Ministry for Taxes and Duties of Russian Federation

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "SELEKTSIONNO-SEMENOVODCHESKAYA FIRMA "MANUL" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

400 000 RUR

Shareholders

Total	7 private persons
Shareholder	Mr Borisov Aleksandr Vladimirovich
Nationality	Russian Federation
Address	Zelenaya str., 20, ap. 103, Khimki, Moscow Region, 141400, Russian Federation
Taxpayer Code (INN)	504707951241
Share	20,5 %
Shareholder	Mr Krylov Oleg Nikolaevich
Nationality	Russian Federation
Address	Koptevskiy bul'var, 10, ap. 38, Moscow, 125008, Russian Federation
Date of Birth	771104089922
Share	20,5 %
Shareholder	Mr Skachko Vladislav Aleksandrovich
Nationality	Russian Federation
Address	Krasnostudencheskiy pr., 4, ap. 30, Moscow, 127434, Russian Federation
Share	20,5 %
Shareholder	Ms Panova Mariya Dmitrievna
Nationality	Russian Federation
Address	Keramicheskiy pr., 57, bldg. 1, ap. 83, Moscow, 127591, Russian Federation
Share	20,5 %
Shareholder	Mr Bovin Yuriy Mikhaylovich
Nationality	Russian Federation
Address	Moskovskoe shosse, 55, ap. 35, Dolgoprudniy, Moscow Region, 141700, Russian Federation
Share	6 %
Shareholder	Mr Mayboroda Leonid Petrovich
Nationality	Russian Federation
Address	Yubileynaya str., 27, ap. 126, Mytischi, Moscow Region, 141021, Russian Federation
Share	6 %
Shareholder	Mr Mr Kamenskiy Nikolay Trofimovich
Nationality	Russian Federation
Address	Kargina str., 40, ap. 1, ap. 65, Mytischi, Moscow Region, 141007, Russian Federation
Share	6 %

Directors

Director	Mr Borisov Aleksandr Vladimirovich
	Signature Right
Nationality	Russian Federation
Address	Zelenaya str., 20, ap. 103, Khimki, Moscow Region, 141400, Russian Federation
Taxpayer Code (INN)	504707951241

Re-Registration Data

Initial Registration	13.01.1993
Registration Number	2274
Registration Authority	Moscow regional registration chamber
Date of Registration	23.10.2002
	(Entering into the Single State Register of Legal Entities)
Registration Number	1025003524402
Registration Authority	Ministry for Taxes and Duties of Russian Federation
Date of Re-registration	04.02.2004
File Number	2045005501143
Registration Authority	Ministry for Taxes and Duties of Russian Federation
Changes	Company's Rules
Date of Re-registration	21.12.2006
File Number	2065029223521
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	09.02.2010
File Number	2105029016080
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address

Operations

Activities	The company is engaged in breeding and seed production of vegetable crops. The company produces goods under brand MANUL.
Staff Employed	30 (approx.) on March, 12, 2012 (company's data)

Real Estate

Own	None
Rent	Office, warehouse, industrial area Address: Yaroslavskoe shosse, 116, Mytischi, Moscow Region, 141009, Russian Federation (company's data) Office, warehouse, industrial area Address: Pryanishnikova str., 23, Moscow, 127550, Russian Federation (company's data)

Export & Import

Export Countries	2008-2011: No Export Activity
Exported Goods	none
Export Value	none
Import Countries	2011: Lithuania, Italy, China, India 2009-2010: Lithuania, Italy, China 2008: Lithuania, China
Imported Goods	seeds
Import Value	in 2011: 376 740 USD in 2010: 288 949 USD in 2009: 323 279 USD in 2008: 47 854 USD

Branches

Branch

The company has got branch situated at the following address: Address: Pryanishnikova str., 23, bldg. 1, Moscow, 127550, Russian Federation

Participation

Information

None

Related Companies

Information

Mr Bovin Yuriy Mikhaylovich is also the shareholder of company: OOO "ARENA" Registration number: 1025003534962 Mr Borisov Aleksandr Vladimirovich, Mr Skachko Vladislav Aleksandrovich, Ms Panova Mariya Dmitrievna, Mr Krylov Oleg Nikolaevich, Mr Kamenskiy Nikolay Trofimovich, and Mr Mayboroda Leonid Petrovich aren't shareholders of any other companies of Russian Federation.

Bankers

Bank	SREDNERUSSKIY BANK SBERBANKA ROSSIYSKOY FEDERATSII, bank code: 044552323 (Russian Federation)
Account(s)	40702810440260100283 (RUR)
Bank	AKTSIONERNYY KOMMERCHESKIY SBEREGATEL'NYY BANK ROSSIYSKOY FEDERATSII (OAO), bank code: 044525225 (Russian Federation)
Account(s)	40702810140260100283 (RUR)
Bank	AKTSIONERNYY KOMMERCHESKIY SBEREGATEL'NYY BANK ROSSIYSKOY FEDERATSII (OAO), Mytischi branch No 7810 (Russian Federation)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12
Ended	01.01.2007	01.01.2006	01.01.2005
Currency	RUR	RUR	RUR
SALES	29001	26654	21904
Cost of Goods sold	13404	17310	12850
GROSS PROFIT	15597	9344	9054
Distribution Costs	12842	8342	6868
Management Costs	732	667	1234
OPERATING PROFIT	2023	335	952
Non Trading Income	-798	-17
PRE TAX PROFIT	1225	-1354	313
Taxation	487	76	209
PROFIT AFTER TAX	738	-1430	104

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2007	01.01.2006	01.01.2005
Currency	RUR	RUR	RUR
TOTAL FIXED ASSETS	7987	6532	5295
Intangible Assets	58
Fixed Assets	701	819	860
TOTAL CURRENT ASSETS	13719	15868	15068
Stock	10571	13427	13547
Trade debtors	2000	1544	719
Cash	897	496	224
TOTAL ASSETS	21706	22400	20363
TOTAL EQUITY	14639	14763	15919
Share Capital	400	400	400
Retained Profits	14218	14342	15498
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	7067	7637	4444
Short Term Loans
Short Term Trade Creditors	7067	7637	4444
TOTAL EQUITY & LIABS	21706	22400	20363

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2007	01.01.2006	01.01.2005
Current Ratio	1,94	2,08	3,39
Working Capital, x1000 RUR	6652	8231	10624
Quick Ratio	0,45	0,32	0,34
Debt to Equity Ratio	0,48	0,52	0,28
Current Assets Turnover	2,11	1,68	1,45
Total Assets Turnover Ratio	1,34	1,19	1,08
Pre Tax Profit Margin, %	4,22	-5,08	1,43
Gross Profit, %	53,78	35,06	41,33
Return on Investment, %	8,37	-9,17	1,97
Return on Assets, %	5,64	-6,04	1,54

Clients & Suppliers

Clients

OOO NPSK "AGRONI" (Russian Federation) OOO "TPP YAUZA" (Russian Federation) OOO "KOMMERCHESKAYA FIRMA "SPRINT-1" (Russian Federation) ZAO SSPP "SORTSEMOVOSCH" (Russian Federation) OAO "VESENNIY" (Russian Federation) OOO "AGROFIRMA SEMENA ALTAYA" (Russian Federation) OOO "RS-OVOSCHI I TSVETY" (Russian Federation) OOO AGROTEKHNOLOGICHESKAYA FIRMA "AGROS" (Russian Federation) OOO "KOMPANIYA REGION-AGRO" (Russian Federation) ZAO "AGROFIRMA "BELAYA DACHA" (Russian Federation)

Suppliers

BEIJING AUTHENTIC SEED CO., LTD. (China) TROPICA SEEDS PVT LTD. (India) DALLEX UAB (Lithuania) NATURLITA UAB (Lithuania) ANSEME SPA (Italy) EURO TRANS UAB (Lithuania) ZAO "IAT" (Russian Federation) OAO "TEPLICHNOE" (Russian Federation) OAO AGROKOMBINAT "GOR'KOVSKOY" (Russian Federation) OOO "ELIOS PROEKT" (Russian Federation) OOO "PROMDIZAYN" (Russian Federation) OOO "SINGENTA" (Russian Federation) ZAO "TEPLICHNYY SERVIS" (Russian Federation) ZAO SEMENNAYA KOMPANIYA "AGROLYUKS" (Russian Federation) ZAO "VTENMA" (Russian Federation) OOO "AL'YANS" (Russian Federation) OOO "TREYD KO" (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.

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 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 Krylov Oleg Nikolaevich (as private person) does't have not paid taxes.

Financial Data

We couldn't get the financial data on the company of 2007 - 2010 years, because there weren't company's financial data of 2007 - 2010 years in the Federal Statistics Service of Russian Federation.

Original Financial Data (Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2005	as at 01.01.2006	as at 01.01.2007
I. NON-CURRENT ASSETS
Intangible assets	110	-	-	58
Fixed assets	120	860	819	701
Construction in progress	130	4435	5713	7228
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	5295	6532	7987
II. CURRENT ASSETS
Inventories	210	13547	13427	10571
including :
raw materials and other inventories	211	1114	953	1632
livestock	212	-	-	-
work in progress	213	3186	2578	198
finished goods and goods for resale	214	9247	9896	8736
goods dispatched	215	-	-	-
expenses related to future periods	216	-	-	5
other supplies and expenditures	217	-	-	-
Value added tax on purchased goods	220	578	401	251
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	719	1544	2000
including :
buyers and customers	241	584	1266	1672
Short-term investments	250	-	-	-
Monetary assets	260	224	496	897
Other current assets	270	-	-	-
Total section II	290	15068	15868	13719
TOTAL SECTIONS I and II	300	20363	22400	21706
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	400	400	400
Treasury shares	411	-	-	-
Additional capital	420	-	-	-
Legal reserve	430	21	21	21
including :
reserves and provisions formed in  accordance with legislation	431	-	-	-
reserves formed in accordance  with foundation documents	432	21	21	21
Retained earnings (loss)	470	15498	14342	14218
Total section III	490	15919	14763	14639
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	4444	7637	7067
including :
suppliers and contractors	621	4092	7120	6194
salaries payable	622	-	-	-
payable to state non-budget funds	623	-	-	-
taxes payable	624	342	512	746
other creditors	625	10	5	127
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	4444	7637	7067
TOTAL SECTIONS III,IV,V	700	20363	22400	21706

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2007	01.01.2006	01.01.2005
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	29001	26654	21904
Cost of goods, products, work, services sold	020	13404	17310	12850
Gross profit	029	15597	9344	9054
Selling expenses	030	12842	8342	6868
Administrative expenses	040	732	667	1234
Profit (loss) from operations	050	2023	335	952
OTHER INCOME AND EXPENSES
Interest income	060	-	-	-
Interest expenses	070	-	-	-
Income from investments in other companies	080	-	-	-
Other operating income	090	20	-	-
Other operating expenses	100	818	17	-
Non-operating income	120	-	-	-
Non-operating expenses	130	-	-	-
Profit (loss) before profit tax	140	1225	-1354	313
Deferred tax assets	141	-	-	-
Deferred tax liabilities	142	-	-	-
Current profit tax	150	487	76	209
Net profit (loss) for the reporting period	190	738	-1430	104

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.31
UK Pound	1	Rs.79.04
Euro	1	Rs.65.82

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.