MIRA INFORM REPORT

Report Date :

01.02.2013

IDENTIFICATION DETAILS

Name :	BADM, LLC
Registered Office :	2 Panikahy str., Dnipropetrovsk, Dnipropetrovsk region, 49005
Country :	Ukraine
Financials (as on) :	30.06.2012
Date of Incorporation :	18.01.2002
Com. Reg. No.:	31816235
Legal Form :	TOV (Limited Liability Company by Ukrainian Law)
Line of Business :	Drugs & Drug Proprietaries
No. of Employees :	2 700

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 :	Exist

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)
Ukraine	B2	B2

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

UKRAINE - ECONOMIC OVERVIEW

After Russia, the Ukrainian republic was the most important economic component of the former Soviet Union, producing about four times the output of the next-ranking republic. Its fertile black soil generated more than one-fourth of Soviet agricultural output, and its farms provided substantial quantities of meat, milk, grain, and vegetables to other republics. Likewise, its diversified heavy industry supplied the unique equipment (for example, large diameter pipes) and raw materials to industrial and mining sites (vertical drilling apparatus) in other regions of the former USSR. Shortly after independence in August 1991, the Ukrainian Government liberalized most prices and erected a legal framework for privatization, but widespread resistance to reform within the government and the legislature soon stalled reform efforts and led to some backtracking. Output by 1999 had fallen to less than 40% of the 1991 level. Ukraine's dependence on Russia for energy supplies and the lack of significant structural reform have made the Ukrainian economy vulnerable to external shocks. Ukraine depends on imports to meet about three-fourths of its annual oil and natural gas requirements and 100% of its nuclear fuel needs. After a two-week dispute that saw gas supplies cutoff to Europe, Ukraine agreed to 10-year gas supply and transit contracts with Russia in January 2009 that brought gas prices to "world" levels. The strict terms of the contracts have further hobbled Ukraine's cash-strapped state gas company, Naftohaz. Outside institutions - particularly the IMF - have encouraged Ukraine to quicken the pace and scope of reforms. Ukrainian Government officials eliminated most tax and customs privileges in a March 2005 budget law, bringing more economic activity out of Ukraine's large shadow economy, but more improvements are needed, including fighting corruption, developing capital markets, and improving the legislative framework. Ukraine's economy was buoyant despite political turmoil between the prime minister and president until mid-2008. Real GDP growth exceeded 7% in 2006-07, fueled by high global prices for steel - Ukraine's top export - and by strong domestic consumption, spurred by rising pensions and wages. A drop in steel prices and Ukraine's exposure to the global financial crisis due to aggressive foreign borrowing lowered growth in 2008. Ukraine reached an agreement with the IMF for a $16.4 billion Stand-By Arrangement in November 2008 to deal with the economic crisis, but the program quickly stalled due to the Ukrainian Government's lack of progress in implementing reforms. The economy contracted nearly 15% in 2009, among the worst economic performances in the world. In April 2010, Ukraine negotiated a price discount on Russian gas imports in exchange for extending Russia's lease on its naval base in Crimea. In August 2010, Ukraine, under the YANUKOVYCH Administration, reached a new agreement with the IMF for a $15.1 billion Stand-By Agreement to put the country on the path to fiscal sustainability, reform the gas sector, and shore up the country's banking system. Economic growth resumed in 2010 and 2011, buoyed by exports. After initial disbursements, the IMF program stalled in early 2011 due to the Ukrainian Government's lack of progress in implementing key gas sector reforms, namely gas tariff increases

Source : CIA

Identification

Full Name

:

Tovarystvo z obmezhenoyu vidpovidalnistyu BADM

Name in English

:

BADM, LLC

Name in national language

:

Товариство з обмеженою відповідальністю БАДМ

Office Address

:

Second office

164B Robitnycha str., Dnipropetrovsk, Dnipropetrovsk region, 49008, Ukraine

2 Panikahy str., Dnipropetrovsk, Dnipropetrovsk region, 49005, Ukraine

Legal Address

:

2 Panikahy str., Dnipropetrovsk, Dnipropetrovsk region, 49005, Ukraine

Other Addresses

:

Previous legal address

164B Robitnycha str., Dnipropetrovsk, Dnipropetrovsk region, 49008, Ukraine

Russian transliteration: Rabochaya str.

( the data cancelled since 26.01.2007 )

Contacts

:

-	Phone	:	(+38 056) 7470121, 2399010, 7470110, 7470105
-	Fax	:	(+38 056) 7470196, 7470211
-	E-mail	:	secretary@ooobadm.dp.ua
-	WWW	:	www.ooobadm.dp.ua

SUMMARY

Legal Form : TOV (Limited Liability Company by Ukrainian Law)

Incorporation : 2002

Staff : 2 700

Litigation events : n/a Remarks on payments : n/a

Sales :	4 156 363.00 th UAH ( for 6 months, ended 30.06.2012 )
	7 469 317.00 th UAH ( for 12 months, ended 31.12.2011 )

Incorporation

:

2002

Registration Data

Date of registration

:

18.01.2002

Registration number

:

31816235

Registr. authority

:

Local Executive Committee (Dnipropetrovsk, Dnipropetrovsk region, Ukraine)

VAT number

:

318162304666

Registr. place

:

Ukraine

Number of VAT-certificate: 100327725 Date of issue: 16.03.2011

Legal Form

:

TOV (Limited Liability Company by Ukrainian Law)

since 18.01.2002

Share Capital

:

112 832 UAH (registered)

since 07.04.2005

Shareholders

:

-	Liorko Investments Limited (Cyprus)				100.00 %
		share's book value	:	112 832 UAH
		address	:	Limassol ARH Makarii III 284 Fortuna Kort BL, 2 floor, Cyprus

Board / Executives

Executives

Director

:

Mr Chicherin Viktor Valentinovich (Ukraine)
	pers. code: 2290016794

Authorised signature

:

Mr Chicherin Viktor Valentinovich

Changes in Registration Data

- 26.01.2007

:

legal address

- 07.04.2005

:

share capital

Activities

:

-	5122	Drugs & Drug Proprietaries
		(NACE 5146: Wholesale of pharmaceutical goods)

Wholesale of medicaments.

Staff employed

:

2 700 [E]

Staff History

:

-	2 600 [E]
	( the data as of 05.12.2012 )
-	2 000 [E]
	( the data as of 07.05.2012 )
-	1 800 [E]
	( the data as of 08.07.2010 )
-	1 483
	Official data.
	( the data as of 31.03.2010 )
-	1 800 [E]
	( the data as of 22.03.2010 )
-	1 483
	( the data as of 31.12.2009 )
-	1 400
	( the data as of 24.12.2009 )
-	Company's administration data:
	950 [E]
	( the data as of 05.02.2009 )
-	Official data:
	975
	( the data as of 31.12.2007 )
-	764
	( the data as of 01.01.2007 )

Export

- 01.11.2012

:

Fiscal period: 10 month(s), currency: UAH

4 044 599.00

Netherlands, Azerbaijan, Georgia

- 01.05.2011

:

Fiscal period: 4 month(s), currency: UAH

1 170 011.00

Azerbaijan, Georgia, Kazakhstan, Russian Federation

- 01.01.2011

:

Fiscal period: 12 month(s), currency: UAH

3 970 080.00

Azerbaijan, Georgia, Moldova

Import

- 01.11.2012

:

Fiscal period: 10 month(s), currency: UAH

9 695 871 162.00

United States of America, Switzerland, France, United Kingdom, Germany

- 01.05.2011

:

Fiscal period: 4 month(s), currency: UAH

884 462 883.00

Austria, Hungary, Switzerland, Slovenia, Finland

- 01.01.2011

:

Fiscal period: 12 month(s), currency: UAH

2 481 403 096.00

Europe, Asia, United States of America

Facilities

Real estate

:

own:
-	Premises - Office
	address	:	2 Panikahy str., Dnipropetrovsk, Dnipropetrovsk region, 49005, Ukraine
unknown ownership:
-	Premises - Office
	name	:	Second office
	address	:	164B Robitnycha str., Dnipropetrovsk, Dnipropetrovsk region, 49008, Ukraine

Branches

:

none

Subsidiaries and Participation

:

n/a

Bankers

:

-	Privatbank (Ukraine)
	bank code	:	305299
	account(s)	:	26001146146002 USD, 26006146146030 EUR, 26068146146001, 26002146146001 UAH
-	Ukrsibbank (Ukraine)
	bank code	:	351005
	account(s)	:	26005033930000 USD, UAH, EUR

Clients

:

-	Abbott Logistics B V (Netherlands)
-	LOGMAN FARM MMC (Azerbaijan)
-	Nova-Farma (Georgia)

Suppliers

:

-	Abbott Logistics B V (Netherlands)
-	Chauvin Ankerpharm GmbH (Germany)
-	Company AstraZeneca UK Limited (United Kingdom)
-	IPSEN PHARMA (France)
-	Unipharm,Inc. (United States of America)

Litigation

:

Generally in the DB of the Unified State Register of the Legal Judgements data there have been traced 177 court where the subject company is filed as a defendant, co-defendant, claimant and co-claimant in the period from 13.10.2006 up to 10.01.2013. There are no bankruptcy/insolvency filed. These litigation processes arise in the course of company's usual operation.

According to the data of Bulletin of the State Registration as of 30.01.2013, there are no bankruptcy records registered in the name of the subject company.

Remarks on payment

:

No official information is available according to the Ukrainian legislation.

Financial Elements

Period, months	6	12	12
Ended	30.06.2012	31.12.2011	31.12.2010
Currency	UAH th	UAH th	UAH th
===== BALANCE SHEET ====================
--- A S S E T S --------------------
NON-CURRENT ASSETS
- Intangible assets	1 561.00	1 418.00
- Fixed assets	76 611.00	79 149.00	70 459.00
- Investments in tangible assets
- Financial assets	0.00	0.00	0.00
- Other non-current assets	0.00	0.00
Non-current assets total	78 172.00	80 567.00	70 599.00
CURRENT ASSETS
- Stock	1 064 972.00	1 063 166.00	748 765.00
- Debtors	620 399.00	601 197.00	473 421.00
- Other receivables	48 196.00	25 004.00
- Short-term financial investments	0.00	0.00
- Cash	69 096.00	61 261.00	97 803.00
- Other current assets	13 983.00	13 414.00
Current assets total	1 816 646.00	1 764 042.00	1 320 861.00
Assets total	1 894 818.00	1 844 609.00	1 391 460.00
--- EQUITY AND LIABILITIES ---------
CAPITAL AND RESERVES
- Share capital	113.00	113.00	113.00
- Additional capital	0.00	0.00
- Other capital	0.00	0.00
- Reserve capital	0.00	0.00
- Retained earnings (Non-covered loss)	36 020.00	27 263.00
Capital and reserves total	36 133.00	27 376.00	23 330.00
Provisions	0.00	0.00
LONG-TERM LIABILITIES
- Loans and credits	211 801.00	211 730.00
- long-term amounts owed to banks	0.00	0.00
- Other long-term liabilities	0.00	0.00
Long-term liabilities total	211 801.00	211 730.00	215 625.00
SHORT-TERM LIABILITIES
- Loans and credits	22 026.00	0.00
- short-term amounts owed to banks	22 026.00	0.00
- Creditors	1 623 424.00	1 604 808.00
- trade debts	1 608 197.00	1 580 951.00
- accrued payroll	2 450.00	5 302.00
- tax liabilities	4 366.00	6 887.00
- other creditors
- advances received	8 411.00	11 668.00
- Dividends in arrears
- Accrued income, deferred charges	0.00	0.00
- Other short-term liabilities	1 434.00	695.00
Short-term liabilities total	1 646 884.00	1 605 503.00	1 152 505.00
Liabilities total	1 858 685.00	1 817 233.00	1 368 130.00
Equity and liabilities total	1 894 818.00	1 844 609.00	1 391 460.00
===== PROFIT AND LOSS ACCOUNT ==========
ORDINARY ACTIVITY INCOME AND CHARGES
Net sales	4 156 363.00	7 469 317.00	5 803 910.00
Cost of goods sold	3 993 132.00	7 246 323.00	5 522 981.00
Gross profit	163 231.00	222 994.00
Distribution costs	129 599.00	187 870.00
Administrative and management costs	16 225.00	32 125.00
Profit on sales
OPERATING INCOME AND CHARGES
Interest receivable
Interest payable
Income from participating interests	0.00	0.00
Other operating income	36 467.00	96 001.00
Other operating charges	35 066.00	83 816.00
Operating profit			99 683.00
INVESTMENT INCOME AND CHARGES
Investment income less charges	-2 467.00	453.00
Profit before taxation	16 341.00	15 637.00	110 237.00
Income-tax and other similar payments	7 585.00	11 591.00
Profit (loss) from ordinary activity
Extraordinary income less charges	0.00	0.00
Net profit	8 756.00	4 046.00	101 765.00
- - - - - - - KEY RATIOS - - - - - - -
Return on sales, %	0.39	0.21	1.90
Profit before taxation / Net sales
Operating margin of profit, %			1.72
Operating profit / Net sales
Return on investment, %	45.22	57.12	472.51
Profit before taxation / Equity
Current assets turnover	2.29	4.23	4.39
Net sales / Current assets
Working capital	169 762.00	158 539.00	168 356.00
Current assets - Short-term liabilities
Leverage	0.02	0.01	0.02
Equity / Total assets
Current ratio	1.10	1.10	1.15
Current assets / Short-term liabilities
Quick ratio	0.46	0.44	0.50
(Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio	51.44	66.38	58.64
Total liabilities / Equity

The company is registered as a taxpayer at the State Tax Administration.

Publications

- 16.04.2012

:

Subject

:

http://www.apteka.ua/article/137600

BADM, LLC received GDP certificate (Good Distribution Practice — GDP). The company is a national distributor, as it supplies 30% of all drugs traded in Ukraine to the retail link. Today the company has 12 regional units, 16 representative offices, 18 thousand partners throughout Ukraine, and cooperates with 270 foreign and 150 domestic manufacturers and suppliers.

FINAL COMMENTS

The information given in this report was collected from all the sources accessible. We contacted Mr Sereda Aleksandr (Head of Audit department) on 30.01.2013 by the tel. number: +38 056 7470121. He confirmed the general information and asked us to send a questionnaire. An inquiry was sent for the attention of the Director but no answer was received. If the additional information comes in we will update the subject report. Address mentioned in your order (Panikasho str.) has a mistake, correct address is Panikahy str.
Capital History
- 18.01.2002	:	14 000 UAH (registered)
		( the data as of 18.01.2002, cancelled since 07.04.2005 )

APPENDIX A

Financial Statements

Period, months	6	12	12
Ended	30.06.2012	31.12.2011	31.12.2010
Currency	UAH th	UAH th	UAH th
PROFIT AND LOSS ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	4 228 983.00
services
015 VAT tax	35 653.00
020 Excise tax	0.00
025	0.00
030 Other compulsory payments	36 967.00
035 Net sales revenue	4 156 363.00
040 Cost of goods, work, services	3 993 132.00
045 Total production costs
050 Gross profit	163 231.00
055 Gross loss	0.00
060 Other operating income	35 963.00
070 Administrative and management costs	16 225.00
080 Distribution costs	129 599.00
090 Other operating charges	26 922.00
100 Operating profit	26 448.00
105 Operating loss	0.00
110 Income from capital participating	0.00
120 Other financial income	6 466.00
130 Other income	504.00
140 Financial charges	8 933.00
150 Capital participating expenses	0.00
160 Other expenses	8 144.00
170 Profit from ordinary activity before taxation	16 341.00
175 Loss from ordinary activity before taxation	0.00
180 Ordinary activity Income-tax	7 585.00
190 Profit from ordinary activity	8 756.00
195 Loss from ordinary activity	0.00
200 Extraordinary income	0.00
205 Extraordinary charges	0.00
210 Extraordinary activity Income-Tax	0.00
220 Net profit	8 756.00
225 Net loss	0.00
Operating charges details:
230 Tangible expenses	11 249.00
240 Payroll costs	53 318.00
250 Allocation to social needs	8 184.00
260 Amortization charges	9 667.00
270 Other operating charges	90 329.00
280 Operating charges total	172 747.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
Intangible assets
010 residual value	1 561.00
011 acquisition cost	2 244.00
012 depreciation	683.00
020 Construction in progress	0.00
Fixed assets
030 residual value	76 611.00
031 acquisition cost	143 063.00
032 depreciation	66 452.00
Long-term biological assets
035 residual value
036 acquisition cost
037 depreciation
Long-term financial assets
040 Capital participation in other enterprises	0.00
045 Other financial investments	0.00
050 Long-term accounts receivable	0.00
060 Deferred tax assets	0.00
070 Other non-current assets	0.00
080 NON-CURRENT ASSETS TOTAL	78 172.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	984.00
110 Current biological assets	0.00
120 Work in progress	0.00
130 Finished goods	0.00
140 Goods for resale	1 063 988.00
150 Bills of exchange receivable	0.00
Trade debtors:
160 net realizable value	598 207.00
161 acquisition cost	598 207.00
162 doubtful debts reserve	0.00
Accounts receivable
170 Budget accounts receivable	0.00
180 Payments in advance	22 192.00
190 Accrued income	0.00
200 Internal payments	0.00
210 Other current accounts receivable	48 196.00
220 Current financial investments	0.00
Cash at bank and on hands
230 Funds in local currency	6 970.00
231 incl. cash on hands
240 Funds in foreign currencies	62 126.00
250 Other current assets	13 983.00
260 CURRENT ASSETS TOTAL	1 816 646.00
270 III. DEFERRED CHARGES	0.00
280 ASSETS TOTAL	1 894 818.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	113.00
310 Share capital	0.00
320 Additional contributed capital	0.00
330 Other additional capital	0.00
340 Reserve capital	0.00
350 Retained earnings (loss)	36 020.00
360 Unpaid capital (minus)	0.00
370 Retired capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	36 133.00
II. PROVISIONS OF EXPENSES AND
LIABILITIES
400 Provisions of payments to personnel	0.00
410 Other provisions	0.00
415 Insurance reserves	0.00
416 portion covered by insurers	0.00
417	0.00
418	0.00
420 Targeted funding	0.00
430 PROVISIONS OF EXPENSES AND	0.00
LIABILITIES TOTAL
III. LONG-TERM LIABILITIES
440 Long-term amounts owed to credit institutions	0.00
450 Other financial liabilities	211 801.00
460 Deferred tax liabilities	0.00
470 Other long-term liabilities	0.00
480 TOTAL LONG-TERM LIABILITIES	211 801.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	22 026.00
510 Short-term portion of long-term liabilities	0.00
520 Bills of exchange payable	0.00
530 Trade creditors	1 608 197.00
Accounts payable:
540 Advance payments	8 411.00
550 Budget accounts payable	3 574.00
560 Non-budget accounts payable	0.00
570 Insurance payments	792.00
580 Accrued payroll	2 450.00
590 Liabilities to shareholders	0.00
600 Internal payments	0.00
610 Other short-term liabilities	1 434.00
620 SHORT-TERM LIABILITIES TOTAL	1 646 884.00
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	1 894 818.00

- 31.12.2011

:

Fiscal period: 12 month(s), currency: UAH, th
PROFIT AND LOSS ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	7 611 612.00
services
015 VAT tax	60 842.00
020 Excise tax	0.00
025	0.00
030 Other compulsory payments	81 453.00
035 Net sales revenue	7 469 317.00
040 Cost of goods, work, services	7 246 323.00
045 Total production costs
050 Gross profit	222 994.00
055 Gross loss	0.00
060 Other operating income	93 717.00
070 Administrative and management costs	32 125.00
080 Distribution costs	187 870.00
090 Other operating charges	63 447.00
100 Operating profit	33 269.00
105 Operating loss	0.00
110 Income from capital participating	0.00
120 Other financial income	10 369.00
130 Other income	2 284.00
140 Financial charges	9 916.00
150 Capital participating expenses	0.00
160 Other expenses	20 369.00
170 Profit from ordinary activity before taxation	15 637.00
175 Loss from ordinary activity before taxation	0.00
180 Ordinary activity Income-tax	11 591.00
190 Profit from ordinary activity	4 046.00
195 Loss from ordinary activity	0.00
200 Extraordinary income	0.00
205 Extraordinary charges	0.00
210 Extraordinary activity Income-Tax	0.00
220 Net profit	4 046.00
225 Net loss	0.00
Operating charges details:
230 Tangible expenses	22 847.00
240 Payroll costs	66 616.00
250 Allocation to social needs	22 568.00
260 Amortization charges	17 940.00
270 Other operating charges	153 470.00
280 Operating charges total	283 441.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
Intangible assets
010 residual value	1 418.00
011 acquisition cost	1 885.00
012 depreciation	467.00
020 Construction in progress	0.00
Fixed assets
030 residual value	79 149.00
031 acquisition cost	136 150.00
032 depreciation	57 001.00
Long-term biological assets
035 residual value
036 acquisition cost
037 depreciation
Long-term financial assets
040 Capital participation in other enterprises	0.00
045 Other financial investments	0.00
050 Long-term accounts receivable	0.00
060 Deferred tax assets	0.00
070 Other non-current assets	0.00
080 NON-CURRENT ASSETS TOTAL	80 567.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	1 097.00
110 Current biological assets	0.00
120 Work in progress	0.00
130 Finished goods	0.00
140 Goods for resale	1 062 069.00
150 Bills of exchange receivable	0.00
Trade debtors:
160 net realizable value	588 861.00
161 acquisition cost	588 861.00
162 doubtful debts reserve	0.00
Accounts receivable
170 Budget accounts receivable	0.00
180 Payments in advance	12 336.00
190 Accrued income	0.00
200 Internal payments	0.00
210 Other current accounts receivable	25 004.00
220 Current financial investments	0.00
Cash at bank and on hands
230 Funds in local currency	12 166.00
231 incl. cash on hands
240 Funds in foreign currencies	49 095.00
250 Other current assets	13 414.00
260 CURRENT ASSETS TOTAL	1 764 042.00
270 III. DEFERRED CHARGES	0.00
280 ASSETS TOTAL	1 844 609.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	113.00
310 Share capital	0.00
320 Additional contributed capital	0.00
330 Other additional capital	0.00
340 Reserve capital	0.00
350 Retained earnings (loss)	27 263.00
360 Unpaid capital (minus)	0.00
370 Retired capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	27 376.00
II. PROVISIONS OF EXPENSES AND
LIABILITIES
400 Provisions of payments to personnel	0.00
410 Other provisions	0.00
415 Insurance reserves	0.00
416 portion covered by insurers	0.00
417
418
420 Targeted funding	0.00
430 PROVISIONS OF EXPENSES AND	0.00
LIABILITIES TOTAL
III. LONG-TERM LIABILITIES
440 Long-term amounts owed to credit institutions	0.00
450 Other financial liabilities	211 730.00
460 Deferred tax liabilities	0.00
470 Other long-term liabilities	0.00
480 TOTAL LONG-TERM LIABILITIES	211 730.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	0.00
510 Short-term portion of long-term liabilities	0.00
520 Bills of exchange payable	0.00
530 Trade creditors	1 580 951.00
Accounts payable:
540 Advance payments	11 668.00
550 Budget accounts payable	4 652.00
560 Non-budget accounts payable	0.00
570 Insurance payments	2 235.00
580 Accrued payroll	5 302.00
590 Liabilities to shareholders	0.00
600 Internal payments	0.00
610 Other short-term liabilities	695.00
620 SHORT-TERM LIABILITIES TOTAL	1 605 503.00
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	1 844 609.00

- 31.12.2010

:

Fiscal period: 12 month(s), currency: UAH, th
PROFIT AND LOSS ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	5 803 910.00
services
015 VAT tax	51 222.00
020 Excise tax	0.00
025
030 Other compulsory payments	34 681.00
035 Net sales revenue	5 718 007.00
040 Cost of goods, work, services	5 522 981.00
050 Gross profit	195 026.00
055 Gross loss	0.00
060 Other operating income	138 785.00
070 Administrative and management costs	27 706.00
080 Distribution costs	135 965.00
090 Other operating charges	70 457.00
100 Operating profit	99 683.00
105 Operating loss	0.00
110 Income from capital participating	0.00
120 Other financial income	5 662.00
130 Other income	33 687.00
140 Financial charges	7 103.00
150 Capital participating expenses	0.00
160 Other expenses	21 692.00
170 Profit from ordinary activity before taxation	110 237.00
175 Loss from ordinary activity before taxation	0.00
180 Ordinary activity Income-tax	8 472.00
190 Profit from ordinary activity	101 765.00
195 Loss from ordinary activity	0.00
200 Extraordinary income	0.00
205 Extraordinary charges	0.00
210 Extraordinary activity Income-Tax	0.00
220 Net profit	101 765.00
225 Net loss	0.00
Operating charges details:
230 Tangible expenses	15 688.00
240 Payroll costs	40 695.00
250 Allocation to social needs	13 682.00
260 Amortization charges	15 196.00
270 Other operating charges	148 867.00
280 Operating charges total	234 128.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
Intangible assets
010 residual value	140.00
011 acquisition cost	432.00
012 depreciation	292.00
020 Construction in progress	0.00
Fixed assets
030 residual assets	70 459.00
031 acquisition cost	109 695.00
032 depreciation	39 236.00
Long-term financial assets
040 Capital participation in other enterprises	0.00
045 Other financial investments	0.00
050 Long-term accounts receivable	0.00
060 Deferred tax charges	0.00
070 Other non-current assets	0.00
080 NON-CURRENT ASSETS TOTAL	70 599.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	840.00
110 Working and productive animals	0.00
120 Construction in progress	0.00
130 Finished goods	0.00
140 Goods for resale	747 925.00
150 Bills of exchange receivable	0.00
Trade debtors:
160 net realizable value	447 779.00
161 acquisition cost	447 779.00
162 doubtful debts reserve	0.00
Accounts receivable
170 Budget accounts receivable	0.00
180 Payments in advance	15 541.00
190 Accrued income	0.00
200 Internal payments	0.00
210 Other current accounts receivable	10 101.00
220 Current financial investments	0.00
Cash at bank and in hand
230 Funds in local currency	64 821.00
240 Funds in foreign currencies	32 982.00
250 Other current assets	872.00
260 CURRENT ASSETS TOTAL	1 320 861.00
270 III. DEFERRED CHARGES	0.00
280 ASSETS TOTAL	1 391 460.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	113.00
310 Share capital	0.00
320 Additional contributed capital	0.00
330 Other additional capital	0.00
340 Reserve capital	0.00
350 Retained earnings (loss)	23 217.00
360 Unpaid capital (minus)	0.00
370 Retired capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	23 330.00
II. PROVISIONS FOR EXPENSES AND
LIABILITIES
400 Provisions for payments to personnel	0.00
410 Other provisions	0.00
415 Insurance reserves	0.00
416 portion covered by insurers	0.00
420 Special-purpose funding	0.00
430 PROVISIONS FOR EXPENSES AND	0.00
LIABILITIES TOTAL
III. LONG-TERM LIABILITIES
440 Long-term amounts owed to credit institutions	0.00
450 Other financial liabilities	214 966.00
460 Deferred tax liabilities	659.00
470 Other long-term liabilities	0.00
480 TOTAL LONG-TERM LIABILITIES	215 625.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	0.00
510 Short-term portion of long-term liabilities	0.00
520 Bills of exchange payable	0.00
530 Trade creditors	1 139 389.00
Accounts payable:
540 Advance payments	6 218.00
550 Budget accounts payable	3 322.00
560 Non-budget accounts payable	0.00
570 Insurance payments	713.00
580 Accrued payroll	1 966.00
590 Liabilities to shareholders	0.00
600 Internal payments	0.00
610 Other short-term liabilities	897.00
620 SHORT-TERM LIABILITIES TOTAL	1 152 505.00
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	1 391 460.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.29
UK Pound	1	Rs.84.22
Euro	1	Rs.72.23

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%)

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.