MIRA INFORM REPORT

Report Date :

29.09.2012

IDENTIFICATION DETAILS

Name :	DIAGNOSTICS-M - LIMITED LIABILITY COMPANY
Registered Office :	5-th Sokolinoy Gory str., 22, Moscow, 105275
Country :	Russia
Financials (as on) :	01.01.2011
Date of Incorporation :	09.01.2003
Com. Reg. No.:	1037739045552
Legal Form :	OOO (Limited Liability Company by Russian Law)
Line of Business :	Wholesale trade in x-ray equipment, spare part and expendables
No. of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

B

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

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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
Russia	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

RUSSIA - ECONOMIC OVERVIEW

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a globally-isolated, centrally-planned economy to a more market-based and globally-integrated economy. Economic reforms in the 1990s privatized most industry, with notable exceptions in the energy and defense-related sectors. The protection of property rights is still weak and the private sector remains subject to heavy state interference. Russian industry is primarily split between globally-competitive commodity producers. In 2011, Russia became the world's leading oil producer, surpassing Saudi Arabia; Russia is the second-largest producer of natural gas; Russia holds the world's largest natural gas reserves, the second-largest coal reserves, and the eighth-largest crude oil reserves. Russia is the third-largest exporter of both steel and primary aluminum. Other less competitive heavy industries remain dependent on the Russian domestic market. Russia's reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the highly volatile swings in global commodity prices. The government since 2007 has embarked on an ambitious program to reduce this dependency and build up the country's high technology sectors, but with few results so far. The economy had averaged 7% growth in the decade following the 1998 Russian financial crisis, resulting in a doubling of real disposable incomes and the emergence of a middle class. The Russian economy, however, was one of the hardest hit by the 2008-09 global economic crisis as oil prices plummeted and the foreign credits that Russian banks and firms relied on dried up. According to the World Bank the government's anti-crisis package in 2008-09 amounted to roughly 6.7% of GDP. The Central Bank of Russia spent one-third of its $600 billion international reserves, the world's third largest, in late 2008 to slow the devaluation of the ruble. The government also devoted $200 billion in a rescue plan to increase liquidity in the banking sector and aid Russian firms unable to roll over large foreign debts coming due. The economic decline bottomed out in mid-2009 and the economy began to grow in the third quarter of 2009. However, a severe drought and fires in central Russia reduced agricultural output, prompting a ban on grain exports for part of the year, and slowed growth in other sectors such as manufacturing and retail trade. High oil prices buoyed Russian growth in 2011 and helped Russia reduce the budget deficit inherited from the lean years of 2008-09. Russia has reduced unemployment since 2009 and has made progress on reducing inflation since 2010. Russia's long-term challenges include a shrinking workforce, a high level of corruption, difficulty in accessing capital for smaller, non-energy companies, and poor infrastructure in need of large investments.

Source : CIA

Comments

Information

The address mentioned in your inquiry belongs to the company Obschestvo s ogranichennoy otvetstvennostyu "DIAGNOSTIKA-M" (name in English: "DIAGNOSTICS-M" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "DIAGNOSTIKA-M"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	1992
Sales	217 609 th RUR for 12 months, ended 01.01.2011
Employees	20 (approx.) on September, 27, 2012 (company's data)

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "DIAGNOSTIKA-M"
Short Name	OOO "DIAGNOSTIKA-M"
Name in English	"DIAGNOSTICS-M" LIMITED LIABILITY COMPANY
Address	5-th Sokolinoy Gory str., 22, Moscow, 105275, Russian Federation
Legal Address	5-th Sokolinoy Gory str., 22, Moscow, 105118, Russian Federation
Phone	+7 (495) 3654236, 2281828, 7379944
Fax	+7 (495) 3654236
E-mail	info@x-ray.ru
WEB Address	www.x-ray.ru www.tsnk.ru
History	12.11.2010: Legal Address changed from Lyublinskaya str., 17, bldg. 3, Moscow, 109390, Russian Federation

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	09.01.2003
Registration Number	1037739045552
Statistic Code (OKPO)	17942806
Taxpayer Code (INN)	7720081285
Registration Authority	Ministry for Taxes and Duties of Russian Federation

Public Record Information

Information

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

Share Capital

Current Share Capital

10 000 RUR

Shareholders

Total	1 private person
Shareholder	Mr Usachev Vladimir Evgen'evich
Nationality	Russian Federation
Address	3-rd Vladimirskaya str., 25, bldg. 5, ap. 13, Moscow, 111397, Russian Federation
Date of Birth	13.10.1978
Taxpayer Code (INN)	772076282546
Share	100 %

Directors

Director	Mr Usachev Vladimir Evgen'evich
	Signature Right
Nationality	Russian Federation
Address	3-rd Vladimirskaya str., 25, bldg. 5, ap. 13, Moscow, 111397, Russian Federation
Date of Birth	13.10.1978
Taxpayer Code (INN)	772076282546

Re-Registration Data

Initial Registration	10.11.1992
Registration Number	333016
Registration Authority	Moscow Register Chamber
Date of Registration	09.01.2003
	(Entering into the Single State Register of Legal Entities)
Registration Number	1037739045552
Registration Authority	Ministry for Taxes and Duties of Russian Federation
Date of Re-registration	29.11.2004
File Number	2047723036722
Registration Authority	Ministry for Taxes and Duties of Russian Federation
Changes	Company's Rules
Date of Re-registration	01.04.2009
File Number	7097746981083
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	06.08.2009
File Number	7097747959270
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	12.11.2010
File Number	8107748716540
Registration Authority	Federal Tax Service of Russian Federation
Changes	Legal Address

Operations

Activities	Wholesale trade in x-ray equipment, spare part and expendables.
Staff Employed	20 (approx.) on September, 27, 2012 (company's data)
Employees' History	20 (approx.) on April, 17, 2009 (company's data) 12 on January, 01, 2005 (official data) 8 on January, 01, 2004 (official data)

Real Estate

Own	none
Rent	Office, warehouse Address: 5-th Sokolinoy Gory str., 22, Moscow, 105275, Russian Federation (company's data)

Export & Import

Export Countries	2011: India, Singapore, Hong Kong 2010: India, Hong Kong 2009: India, China, Austria 2008: Germany, India, Austria, Vietnam 2007: Poland, India 2006: India
Exported Goods	x-ray equipment
Export Value	in 2011: 827 515 USD in 2010: 1 372 443 USD in 2009: 519 079 USD in 2008: 409 547 USD in 2007: 154 789 USD in 2006: 63 732 USD
Import Countries	2009-2011: Germany 2007: Germany
Imported Goods	consumables, x-ray films, plastic products, computer equipment, accumulators, spare parts
Import Value	in 2011: 610 904 USD in 2010: 400 299 USD in 2009: 401 822 USD in 2008: none in 2007: 86 858 USD in 2006: none

Branches

Branch

None

Participation

Information

None

Related Companies

Information

Mr Usachev Vladimir Evgen'evich isn't a shareholder or a director of any other companies in Russian Federation.

Bankers

Bank	AKTSIONERNYY KOMMERCHESKIY SBEREGATEL'NYY BANK ROSSIYSKOY FEDERATSII (OAO), bank code: 044525225 (Russian Federation)
Account(s)	40702810838230102183 (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	217609	138047	130158	94325
Cost of Goods sold	145497	86118	81417	68697
GROSS PROFIT	72112	51929	48741	25628
Distribution Costs
Management Costs	10378	14839	15368	12374
OPERATING PROFIT	61734	37090	33373	13254
Non Trading Income	382	-75	-3369	-395
PRE TAX PROFIT	62116	37015	30004	12859
Taxation	12665	7626	8074	3135
PROFIT AFTER TAX	49451	29367	21932	9752

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	2246	2370	2718	2287
Intangible Assets	29
Fixed Assets	2050	2238	2677	2255
TOTAL CURRENT ASSETS	134285	84757	73017	43673
Stock	90927	66523	38984	19592
Trade debtors	21904	8606	13817	21076
Cash	18945	9533	20036	1326
TOTAL ASSETS	136531	87126	75735	45960
TOTAL EQUITY	118856	76140	46762	24732
Share Capital	10	10
Retained Profits	118826	76110	46742	24712
TOTAL LONG TERM LIABS			5
Long Term Loans
TOTAL CURRENT LIABS	17675	10987	28968	21228
Short Term Loans				950
Short Term Trade Creditors	17675	10987	28968	20278
TOTAL EQUITY & LIABS	136531	87126	75735	45960

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	7,6	7,71	2,52	2,06
Working Capital, x1000 RUR	116610	73770	44049	22445
Quick Ratio	2,45	1,66	1,17	1,13
Debt to Equity Ratio	0,15	0,14	0,62	0,86
Current Assets Turnover	1,62	1,63	1,78	2,16
Total Assets Turnover Ratio	1,59	1,58	1,72	2,05
Pre Tax Profit Margin, %	28,54	26,81	23,05	13,63
Gross Profit, %	33,14	37,62	37,45	27,17
Return on Investment, %	52,26	48,61	64,16	51,99
Return on Assets, %	45,5	42,48	39,62	27,98

Clients & Suppliers

Clients

PRECISION OPERATION SYSTEMS (India) KAPRI CORP. (India) DURR DENTAL GMBH & CO KG (Germany) CHINA LIANSU GROUP HOLDING LIMITED (China) CHINA JIUYUAN TRADING CORPORATION (China) AR SICHERHEITS-TECHNOLOGIE-GES.M.B.H. (Austria) M/S AXIS CARGO MOVERS PVT. LTD. (India) TOWER AIR FREIGHT PTE LTD. (Singapore) RELIANCE ELECTRONICS (India) ASIA TRINITY ENTERPRISE LIMITED (Hong Kong) OAO "NOVO" (Russian Federation) OOO "TSRK" (Russian Federation) OAO TKZ "KRASNYY KOTEL'SCHIK" (Russian Federation) ZAO "NAUCHNO-ISSLEDOVATEL'SKIY INSTITUT INTROSKOPII MNPO "SPEKTR" (Russian Federation) OOO "TELIKOM-ORBITELING" (Russian Federation) OOO "LK "ROSINTERLIZING" (Russian Federation)

Suppliers

DURR NDT GMBH & CO. KG (Germany) DURR DENTAL GMBH & CO. KG (Germany) OOO "KEMBO" (Russian Federation) OOO "PERSEY-EKSPO" (Russian Federation) OOO "LIDER" (Russian Federation) OOO "ENERGIYA" (Russian Federation) OOO "EVROTEK" (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 Usachev Vladimir Evgen'evich (as private person) doesn't have not paid taxes.

Financial Data

We couldn’t get the financial data on the company of 2011 year, because there weren’t company’s financial data of 2011 year 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 01.01.2009	as at 01.01.2010	as at 01.01.2011
I. NON-CURRENT ASSETS
Intangible assets	110	-	-	29
Fixed assets	120	2677	2238	2050
Construction in progress	130	-	-	-
Income-bearing investments in tangible assets	135	-	-	-
Long-term financial investments	140	-	-	-
Deferred tax assets	145	41	-	-
Other non-current assets	150	-	132	167
Total section I	190	2718	2370	2246
II. CURRENT ASSETS
Inventories	210	38984	66523	90927
including :
raw materials and other inventories	211	35174	59345	85297
livestock	212	-	-	-
work in progress	213	-	-	-
finished goods and goods for resale	214	3226	6537	5548
goods dispatched	215	-	-	-
expenses related to future periods	216	584	640	82
other supplies and expenditures	217	-	-	-
Value added tax on purchased goods	220	180	95	2509
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	13817	8606	21904
including :
buyers and customers	241	3819	3001	7173
Short-term investments	250	-	-	-
Monetary assets	260	20036	9533	18945
Other current assets	270	-	-	-
Total section II	290	73017	84757	134285
TOTAL SECTIONS I and II	300	75735	87126	136531
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	-	10	10
Treasury shares	411	-	-	-
Additional capital	420	20	20	20
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	46742	76110	118826
Total section III	490	46762	76140	118856
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-	-
Deferred tax liabilities	515	5	-	-
Other non-current liabilities	520	-	-	-
Total section IV	590	5	-	-
V. CURRENT LIABILITIES
Borrowings	610	-	-	-
Accounts payable	620	28968	10987	17675
including :
suppliers and contractors	621	6248	3516	1775
salaries payable	622	225	-	-
payable to state non-budget funds	623	57	47	167
taxes payable	624	8125	317	5569
other creditors	625	14314	7107	10164
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	28968	10987	17675
TOTAL SECTIONS III,IV,V	700	75735	87126	136531

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	217609	138047	130158
Cost of goods, products, work, services sold	020	145497	86118	81417
Gross profit	029	72112	51929	48741
Selling expenses	030	-	-	-
Administrative expenses	040	10378	14839	15368
Profit (loss) from operations	050	61734	37090	33373
OTHER INCOME AND EXPENSES
Interest income	060	15	14	6
Interest expenses	070	-	-	-
Income from investments in other companies	080	-	-	-
Other operating income	090	44201	25430	7451
Other operating expenses	100	43834	25519	10826
Non-operating income	120	-	-	-
Non-operating expenses	130	-	-	-
Profit (loss) before profit tax	140	62116	37015	30004
Deferred tax assets	141	-	-27	7
Deferred tax liabilities	142	-	-5	5
Current profit tax	150	12665	7626	8074
Net profit (loss) for the reporting period	190	49451	29367	21932

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.52.69
UK Pound	1	Rs.85.71
Euro	1	Rs.68.15

INFORMATION DETAILS

Report Prepared by :

PRL

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.