MIRA INFORM REPORT

Report Date :

24.03.2012

IDENTIFICATION DETAILS

Name :	ZAKRYTOE AKTSYONERNOE OBSCHESTVO - MEDKHIM
Registered Office :	Zavodskaya str., 5, Syzran, Samara Region, 446021, Russian Federation
Country :	Russia
Financials (as on) :	01.01.2011
Date of Incorporation :	01.02.2003
Com. Reg. No.:	1036301251524
Legal Form :	ZAO (Private Joint Stock Company by Russian Law)
Line of Business :	Manufacture and sales of medical and veterinary substances; technical and household detergents; wax structures and greasings of industrial function.
No. of Employees :	50 Approximately

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 :	200 000 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 – 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 Zakrytoe aktsyonernoe obschestvo "MEDKHIM" (name in English: "MEDCHEM" PRIVATE JOINT STOCK COMPANY). We provide the report on this company.

Summary

Original Name	Zakrytoe aktsyonernoe obschestvo "MEDKHIM"
Legal Form	ZAO (Private Joint Stock Company by Russian Law)
Year of Foundation	2000
Sales	264 407 th RUR for 12 months, ended 01.01.2011
Employees	50 (approx.) on March, 21, 2012 (company's data)

Creditline Recommendations

Credit Limit

200 000 USD

Company Identification Details

Original Name	Zakrytoe aktsyonernoe obschestvo "MEDKHIM"
Short Name	ZAO "MEDKHIM"
Name in English	"MEDCHEM" PRIVATE JOINT STOCK COMPANY
Address	Zavodskaya str., 5, Syzran, Samara Region, 446021, Russian Federation
Legal Address	Zavodskaya str., 5, Syzran, Samara Region, 446021, Russian Federation
Phone	+7 (8464) 922255, 911245, 922233 +7 (846) 9512856, 9512372
Fax	+7 (8464) 922255, 911245, 922233 +7 (846) 9512856, 9512372
E-mail	info@medhim.net
WEB Address	www.medhim.net

Official Company Data

Legal Form	ZAO (Private Joint Stock Company by Russian Law)
Date of Registration	01.02.2003
Registration Number	1036301251524
Statistic Code (OKPO)	54051488
Taxpayer Code (INN)	6325027630
Registration Authority	Ministry for Taxes and Duties of Russian Federation

Public Record Information

Information

The company Zakrytoe aktsyonernoe obschestvo "MEDKHIM" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

40 000 000 RUR

Shareholders

Total	legal and private persons
Shareholder	OOO "TORGOVO-PROMYSHLENNAYA KOMPANIYA "BETTA"
Address	Voevodina str., 16, Samara, Samara Region, 443109, Russian Federation
Registration Number	1026300767866
Taxpayer Code (INN)	6312048150
Share	98,475 %
Comments	The information on the shareholders of the company is presented on 12.02.2009: According to Russian legislation the information on change of shareholders of companies with the legal status joint-stock company isn’t included in the Single State Register of Legal Entities of Russian Federation. Data on change of shareholders of company (if the company has a status joint-stock company) are reflected in register of shareholders which is conducted either by the company itself or by independent specific company – register holder. According to Russian legislation to get an extract about the composition of shareholders at current situation from the register of shareholders it’s necessary to be a shareholder of this company (to have no less than 1 % of its share). The inquired company isn’t public corporation (the shares of the company aren’t presented on the exchange), that’s why the company doesn’t publish quarterly reports about the composition of shareholders. Therefore current composition of company’s shareholders may differ from ours one in the report.

Directors

Director	Mr Eyvazov Talat Seyfulla Ogly
	Signature Right
Nationality	Russian Federation
Address	Silina str., 7, ap. 16, Samara, Samara Region, 443122, Russian Federation
Date of Birth	01.05.1967
Taxpayer Code (INN)	631907167954

Re-Registration Data

Initial Registration	29.11.2000
Registration Number	YUL-0225
Registration Authority	Administration of Syzran
Date of Registration	01.02.2003
	(Entering into the Single State Register of Legal Entities)
Registration Number	1036301251524
Registration Authority	Ministry for Taxes and Duties of Russian Federation
Date of Re-registration	31.03.2003
File Number	2036301257100
Registration Authority	Ministry for Taxes and Duties of Russian Federation
Changes	Company's Rules
Date of Re-registration	03.12.2004
File Number	2046301263776
Registration Authority	Ministry for Taxes and Duties of Russian Federation
Changes	Company's Rules
Date of Re-registration	06.02.2007
File Number	2076325006723
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	03.10.2007
File Number	2076325047995
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	02.12.2008
File Number	2086325047411
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules

Operations

Activities	Manufacture and sales of medical and veterinary substances; technical and household detergents; wax structures and greasings of industrial function.
Staff Employed	50 (approx.) on March, 21, 2012 (company's data)

Real Estate

Own	Office, warehouse, industrial area Address: Zavodskaya str., 5, Syzran, Samara Region, 446021, Russian Federation (company's data)
Rent	Office Address: Cheremshanskaya str., 89/18, Samara, Samara Region, 443016, Russian Federation (company's data) Warehouse Address: Zubchaninovskoe shosse, 128/2, Samara, Samara Region, 443109, Russian Federation (company's data)

Export & Import

Export Countries	2011: Ukraine, Latvia, Moldova, Bulgaria 2010: Ukraine, Kazakhstan, Pakistan, Uzbekistan, Latvia, Moldova 2009: Ukraine, Kazakhstan, Afghanistan 2008: Uzbekistan, Ukraine, Kazakhstan, Latvia, Moldova
Exported Goods	medical and veterinary substances, technical and household detergents, wax structures and greasings of industrial function
Export Value	in 2011: 91 986 USD in 2010: 173 931 USD in 2009: 86 520 USD in 2008: 135 162 USD
Import Countries	2011: Turkmenistan, Malaysia 2009-2010: Turkmenistan
Imported Goods	greasings of industrial function
Import Value	in 2011: 5 265 748 USD in 2010: 1 699 264 USD in 2009: 92 015 USD in 2008: none

Branches

Branch

None

Participation

Information

None

Related Companies

Information

The company OOO "TORGOVO-PROMYSHLENNAYA KOMPANIYA "BETTA" is also a shareholder of company OOO "SISTEMSERVIS" Registration number: 1086312002006

Bankers

Bank	OAO "ROSSEL'KHOZBANK", Samara branch, bank code: 043601978 (Russian Federation)
Account(s)	40702810113000001110 (RUR)
Bank	POVOLZHSKIY BANK SBERBANKA ROSSIYSKOY FEDERATSII, bank code: 043601607 (Russian Federation)
Account(s)	40702810554050101426 (RUR)
Bank	OAO "AVTOVAZBANK", Syzran branch, bank code: 043606734 (Russian Federation)
Account(s)	40702810100000000674 (RUR)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12	12
Ended	01.01.2011	01.01.2010	01.01.2009	01.01.2008
Currency	RUR	RUR	RUR	RUR
SALES	264407	192847	172568	156610
Cost of Goods sold	223513	159125	143164	130515
GROSS PROFIT	40894	33722	29404	26095
Distribution Costs	12347	6280	5868	3607
Management Costs	14355	14896	16169	16240
OPERATING PROFIT	14192	12546	7367	6248
Non Trading Income	-9906	-5932	-4377	-4753
PRE TAX PROFIT	4286	6614	2990	1495
Taxation	905	1325	784	362
PROFIT AFTER TAX	2151	4015	2206	1133

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	19829	17272	18780	19384
Intangible Assets	35	40	45	56
Fixed Assets	19438	16828	18399	19067
TOTAL CURRENT ASSETS	95746	45098	51840	47840
Stock	49283	31055	33823	36347
Trade debtors	37662	12371	11446	7462
Cash	8126	417	610	1860
TOTAL ASSETS	115575	62370	70620	67224
TOTAL EQUITY	53376	51024	46995	15491
Share Capital	40000	40000	40000	10000
Retained Profits	13100	10949	6995	5491
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	62199	11346	23625	51733
Short Term Loans	44660	1979	8696	20500
Short Term Trade Creditors	16640	8968	14929	31233
TOTAL EQUITY & LIABS	115575	62370	70620	67224

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2011	01.01.2010	01.01.2009	01.01.2008
Current Ratio	1,54	3,97	2,19	0,92
Working Capital, x1000 RUR	33547	33752	28215	-3893
Quick Ratio	0,75	1,24	0,76	0,22
Debt to Equity Ratio	1,17	0,22	0,5	3,34
Current Assets Turnover	2,76	4,28	3,33	3,27
Total Assets Turnover Ratio	2,29	3,09	2,44	2,33
Pre Tax Profit Margin, %	1,62	3,43	1,73	0,95
Gross Profit, %	15,47	17,49	17,04	16,66
Return on Investment, %	8,03	12,96	6,36	9,65
Return on Assets, %	3,71	10,6	4,23	2,22

Clients & Suppliers

Clients

ALPHA MARKETING EOOD (Bulgaria) ARGOS SIA (Latvia) AO "LEKKHIM" (Ukraine) AO "MEDIKAMENTUM" (Moldova) OOO "ISTOK-PLYUS" (Ukraine) PAO "FITOFARM" (Ukraine) M/S. STANDARD DRUG COMPANY (Pakistan) RELIGIOZNAYA ORGANIZATSIYA "PRIKHOD KHRAMA KHRISTA SPASITELYA" (Kazakhstan) TOO "FARMATSIYA 2010" (Kazakhstan) OOO "APTEKA-95 FARMATSEVTICHESKAYA FIRMA" (Ukraine) OOO "KOMTRANS-XXI" (Russian Federation) OOO "MODUL'" (Russian Federation) OOO "FITOFARM-NN" (Russian Federation) OOO "MEDKHIM-03" (Russian Federation) OOO "NOVOKOM" (Russian Federation) OOO "DIATON" (Russian Federation) OOO "KLASSIKA" (Russian Federation) OOO "OPTIMUM" (Russian Federation) OOO "PARITET" (Russian Federation) OOO "AKTIV KOMPLEKT" (Russian Federation)

Suppliers

TURKMENBASHINSKIY KOMPLEKS NEFTEPERERABATYVAYUSCHIKH ZAVODOV (Turkmenistan) SURIACHEM SDN BHD (Malaysia) OOO "ADEPT-L" (Russian Federation) OOO "ALEKSOYL" (Russian Federation) OOO "SYZRANSKAYA TOPLIVNAYA KOMPANIYA" (Russian Federation) OOO "KIMIKAR" (Russian Federation) ZAO "BANG I BONSOMER" (Russian Federation) OOO "FORMAG GRUP" (Russian Federation) OAO "NEFIS KOSMETIKS" (Russian Federation) ZAO "GEOSTROYIZYSKANIYA" (Russian Federation) OOO "ELITTORG" (Russian Federation) OOO "DOMINIK STEKLO" (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 the Mr Eyvazov Talat Seyfulla Ogly (as private person) doesn'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 01.01.2009	as at 01.01.2010	as at 01.01.2011
I. NON-CURRENT ASSETS
Intangible assets	110	45	40	35
Fixed assets	120	18399	16828	19438
Construction in progress	130	261	329	281
Income-bearing investments in tangible assets	135	-	-	-
Long-term financial investments	140	-	-	-
Deferred tax assets	145	-	-	-
Other non-current assets	150	75	75	75
Total section I	190	18780	17272	19829
II. CURRENT ASSETS
Inventories	210	33823	31055	49283
including :
raw materials and other inventories	211	25558	25401	34573
livestock	212	5	5	5
work in progress	213	2300	147	2534
finished goods and goods for resale	214	5340	5173	11723
goods dispatched	215	-	-	-
expenses related to future periods	216	620	329	448
other supplies and expenditures	217	-	-	-
Value added tax on purchased goods	220	5961	1255	675
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	11446	12371	37662
including :
buyers and customers	241	6488	4516	8235
Short-term investments	250	-	-	-
Monetary assets	260	610	417	8126
Other current assets	270	-	-	-
Total section II	290	51840	45098	95746
TOTAL SECTIONS I and II	300	70620	62370	115575
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	40000	40000	40000
Treasury shares	411	-	-	-
Additional capital	420	-	-	-
Legal reserve	430	-	75	276
including :
reserves and provisions formed in  accordance with legislation	431	-	-	-
reserves formed in accordance  with foundation documents	432	-	75	276
Retained earnings (loss)	470	6995	10949	13100
Total section III	490	46995	51024	53376
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-	-
Deferred tax liabilities	515	-	-	-
Other non-current liabilities	520	-	-	-
Total section IV	590	-	-	-
V. CURRENT LIABILITIES
Borrowings	610	8696	1979	44660
Accounts payable	620	14929	8968	16640
including :
suppliers and contractors	621	7874	5120	8442
salaries payable	622	1281	1150	1332
payable to state non-budget funds	623	600	608	735
taxes payable	624	1011	772	825
other creditors	625	4163	1318	5306
Dividends payable to participants (shareholders)	630	-	399	-
Income of future periods	640	-	-	-
Reserves for future expenses and payments	650	-	-	-
Other current liabilities	660	-	-	-
Total section V	690	23625	11346	62199
TOTAL SECTIONS III,IV,V	700	70620	62370	115575

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2011	01.01.2010	01.01.2009
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	264407	192847	172568
Cost of goods, products, work, services sold	020	223513	159125	143164
Gross profit	029	40894	33722	29404
Selling expenses	030	12347	6280	5868
Administrative expenses	040	14355	14896	16169
Profit (loss) from operations	050	14192	12546	7367
OTHER INCOME AND EXPENSES
Interest income	060	-	-	-
Interest expenses	070	-	-	267
Income from investments in other companies	080	-	-	-
Other operating income	090	5548	6961	2170
Other operating expenses	100	15454	12893	6280
Non-operating income	120	-	-	-
Non-operating expenses	130	-	-	-
Profit (loss) before profit tax	140	4286	6614	2990
Deferred tax assets	141	-	-	-
Deferred tax liabilities	142	-	-	-
Current profit tax	150	905	1325	784
Net profit (loss) for the reporting period	190	2151	4015	2206

Additional information about shareholders (legal persons)

Below is presented the extended information about the shareholders (legal persons) of subject company.

Name	OOO "TORGOVO-PROMYSHLENNAYA KOMPANIYA "BETTA"
Legal address	Voevodina str., 16, Samara, Samara Region, 443109, Russian Federation
Taxpayer code (INN)	6312048150
Registration Number	1026300767866
Share	98,475 %

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12	12
Ended	01.01.2008	01.01.2007	01.01.2006	01.01.2005
Currency	RUR	RUR	RUR	RUR
SALES	830	465	437	87
Cost of Goods sold
GROSS PROFIT	830	465	437	87
Distribution Costs
Management Costs	676	401	288	65
OPERATING PROFIT	154	64	149	22
Non Trading Income	-78	325	-15	195
PRE TAX PROFIT	76	389	134	217
Taxation	14	11	32
PROFIT AFTER TAX	62	378	102	217

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2008	01.01.2007	01.01.2006	01.01.2005
Currency	RUR	RUR	RUR	RUR
TOTAL FIXED ASSETS	18203	14357	11678	11613
Intangible Assets
Fixed Assets	5134	361	359	332
TOTAL CURRENT ASSETS	31151	19817	298	262
Stock
Trade debtors	2428	308	283	125
Cash	4023	9	13	136
TOTAL ASSETS	49354	34174	11976	11875
TOTAL EQUITY	48986	12244	11873	11806
Share Capital	48300	11600	11600	11600
Retained Profits	686	644	273	206
TOTAL LONG TERM LIABS
Long Term Loans
TOTAL CURRENT LIABS	368	21930	103	69
Short Term Loans
Short Term Trade Creditors	368	21930	103	69
TOTAL EQUITY & LIABS	49354	34174	11976	11875

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.50.90
UK Pound	1	Rs.80.77
Euro	1	Rs.67.40

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.