MIRA INFORM REPORT

Report Date :

12.11.2013

IDENTIFICATION DETAILS

Name :	OOO "MOSKOVSKAYA CHAYNAYA FABRIKA"
Registered Office :	Ul Borovaya D 3, 111020 G Moskva
Country :	Russia
Financials (as on) :	31.12.2012
Date of Incorporation :	07.04.1998
Com. Reg. No.:	1027700037573
Legal Form :	Limited Liability Companies (OOO)
Line of Business :	Letting of Own Property
No. of Employees :	Not Available

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 :	Slow but 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, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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. 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 also a top exporter of metals such as steel and primary aluminum. Russia's reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the volatile swings in global 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 visible 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 economic decline bottomed out in mid-2009 and the economy began to grow again in the third quarter of 2009. High oil prices buoyed Russian growth in 2011-12 and helped Russia reduce the budget deficit inherited from 2008-09. Russia has reduced unemployment to a record low and has lowered inflation below double digit rates. Russia joined the World Trade Organization in 2012, which will reduce trade barriers in Russia for foreign goods and services and help open foreign markets to Russian goods and services. At the same time, Russia has sought to cement economic ties with countries in the former Soviet space through a Customs Union with Belarus and Kazakhstan, and, in the next several years, through the creation of a new Russia-led economic bloc called the Eurasian Economic Union. Russia has had difficulty attracting foreign direct investment and has experienced large capital outflows in the past several years, leading to official programs to improve Russia's international rankings for its investment climate. Russia's adoption of a new oil-price-based fiscal rule in 2012 and a more flexible exchange rate policy have improved its ability to deal with external shocks, including volatile oil prices. Russia's long-term challenges also include a shrinking workforce, rampant corruption, and underinvestment in infrastructure.

Source : CIA

company Name and Address

OOO "MCHF"

Ul Borovaya d 3,
111020 g Moskva
Tel: 74959182467
Web: www.moschay.ru

company information

Company development	Constant company development.
Business course	Satisfactory order situation.

Terms of payment	Mostly within agreed terms, in individual cases dalays of payments / payment reminders.
Business connection	Business connection is not denied. Credit is not assigned, it requires securities.

Legal form

Limited liability companies (OOO)

Established on	07/04/1998 - Limited liability companies (OOO)
Registered on	18/07/2002, Upravlenie Ministerstva Rossiyskoy Federatsii po nalogam i sboram po g.Moskve,  RegNr.: 1027700037573 Tax number: 7722146516 Statistical number: 18406694

Registered capital		RUB	19 877 153,-
Owner	Zakrytaya aktsionernaya kompaniya s ogranichennoy otvetstvennostyu YU-Vi-Si Limited  Kapatakis bilding,Nausis 1, 6018 Larnakas, Cyprus	%	100

Sole Executive Body	Andrey Anatolevich Ostryagin Managing director
General data	Main activity: Letting of own property

Full name:
OOO "Moskovskaya chaynaya fabrika"

Short name:
OOO "MCHF"

Residence address:
ul Borovaya d 3, 111020 g Moskva 
Tel: 74959182467
Web: www.moschay.ru

Other activities
	:

Printing n.e.c.

General construction of buildings and civil engineering works

Maintenance and repair of motor vehicles

Agents involved in the sale of a variety of goods

Wholesale of coffee

Non-specialized wholesale of food

Other wholesale trade

Other retail sale in non-specialized stores

Other retail sale of food

Other retail sale in specialized stores

Restaurants

Activities of other transport agencies

Financial leasing

Other financial intermediation n.e.c.

Real estate activities with own property

Real estate activities on a fee or contract basis

Software consultancy and supply

Legal activities

Market research and public opinion polling

Advertising

	Other service activities n.e.c.
Annual turnover	31/12/2006	Enterprise turnover	RUB	221 704 000,-

31/12/2007	Enterprise turnover	RUB	205 018 000,-
31/12/2008	Enterprise turnover	RUB	216 131 000,-

31/12/2009	Enterprise turnover	RUB	315 230 000,-
31/12/2010	Enterprise turnover	RUB	291 300 000,-

	31/12/2012	Enterprise turnover	RUB	356 307 000,-
Remarks	The main activity of OOO “MCHF” is production of tea. The subject produces following tea brands: “Nikitin”, “№36”, “Ataman” and supply its products all over the Russia as well to Europe, USA and CIS countries. During the phone call the representative did not geld information, if business premises rented or owned by the subject.  The affiliation of the subject with other entities was found through managing director, Ostryagin Andrei Anatolevich. OOO “MCHK” - INN: 7722547765; 111020, g. Moskva, ul. Borovaya, d. 3. He is the managing director of the company. OOO “MCHF” had several state contracts for the total sum: In 2013: 1 429 645 RUB; In 2010: 2 180 020 RUB; In 2009: 207 845 RUB; In 2008: 1 630 487 RUB. The subject participated in court cases as claimant and collected: In 2013: 145850 RUB; In 2012: 2606354.2 RUB; In 2011: 142031.36 RUB. No negative information was found about the company in open sources.

Financials

A. The enclosed balance of 2011 is originated from official source, no data available about authentication. (31.12.2011 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).
B. The enclosed balance of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).

balance	A 31.12.2011	B 31.12.2012	C
1. ASSETS
I. FIXED ASSETS
Intangible assets	995	3 806
The results of research and development	0	0
Intangible research assets	0	0
Tangible research assets	0	0
Fixed assets	654 797	1 489 888
Profitable investments in tangible assets	0	0
Financial investments	2 510	2 510
Deferred tax assets	35 538	32 366
Other non-current assets	477 743	3 438
TOTAL IN SECTION I.	1 171 583	1 532 008
II. CURRENT ASSETS
Inventories	6 759	33 381
VAT on acquired assets	10 604	329
Accounts receivable	883 152	415 230
Financial investments (excluding the monetary equivalent)	8 050	4 667
Cash and monetary equivalents	28 339	64 599
Other current assets	4 204	2 050
TOTAL IN SECTION II.	941 108	520 257
BALANCE	2 112 691	2 052 265
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital, deposits capital, partners capital)	19 877	19 877
Treasury stock	0	0
Revaluation of fixed assets	0	0
Additional capital (without revaluation)	0	0
Reserve capital	0	0
Retained earnings (uncovered loss)	-149 179	-241 678
TOTAL IN SECTION III.	-129 302	-221 801
IV. LONG-TERM LIABILITIES
Borrowed funds	2 095 769	1 804 809
Deferred tax liabilities	4 232	1 630
Provisions	0	0
Other liabilities	0	0
TOTAL IN SECTION IV.	2 100 001	1 806 440
V. SHORT-TERM LIABILITIES
Borrowed funds	20 077	376 162
Payables	121 915	91 464
Deferred income	0	0
Provisions	0	0
Sonstige Verbindlichkeiten	0	0
TOTAL IN SECTION V.	141 992	467 626
BALANCE	2 112 691	2 052 265
A. The enclosed profit and loss account of 2011 is originated from official source, no data available about authentication. (31.12.2011 - 1000 RUB) B. The enclosed profit and loss account of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB)

profit and loss account	A 31.12.2011	B 31.12.2012	C
Turnover	123 001	356 307
Cost of sales	22 155	59 749
Gross profit (loss)	100 846	296 558
Selling expenses	594	7 127
Administrative expenses	112 167	351 623
Sales profit (loss)	-11 915	-62 192
Earnings from other entities	0	0
Interest receivable	572	546
Interest payable	21 022	112 315
Other operating income	894 511	425 248
Other operating expenses	1 042 844	343 155
Profit (loss) before tax	-180 698	-91 868
Current profit tax	0	0
Permanent tax liabilities (assets)	0	-24 883
Change in deferred tax liabilities	-2 001	-2 601
Change in deferred tax assets	30 624	-3 172
Different	238	59
Net profit (loss)	-148 311	-92 498
Results of fixed assets revaluation, non-includedin net profit/loss for period	0	0
Result of other transactions, non included in net profit/loss for period	0	0
Total financial result for period	-148 311	-92 498

Ratios	2011	2012
Quick ratio	6,48	1,04
Current ratio	0,33	0,22

Average Collection Period	1310	665
Payables turnover Period	1004	652

Debt ratio	1,06	1,11
Equity to total assets ratio	-0,06	-0,11

Funding ratio	-0,06	-0,1
Return on sales	-120,58	-25,96

Return on Assets	-7,58	0,97
Return on Equity	n/a	52,69

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.30
UK Pound	1	Rs.101.36
Euro	1	Rs.84.60

INFORMATION DETAILS

Report Prepared by :

NIT

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.