MIRA INFORM REPORT

Report Date :

24.10.2013

IDENTIFICATION DETAILS

Name :	SYNTHOS KRALUPY, A.S.
Registered Office :	O. Wichterleho 810, Kralupy nad Vltavou - Lobeček 27801
Country :	Czech Republic
Financials (as on) :	2012
Date of Incorporation :	02.01.2008
Com. Reg. No.:	28214790
Legal Form :	Public Limited Company
Line of Business :	Manufacture of plastics in primary forms
No. of Employees :	750

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 :	Good
Payment Behaviour :	Regular
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)
Czech Republic	B1	B1

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

CZECH REPUBLIC - ECONOMIC OVERVIEW

The Czech Republic is a stable and prosperous market economy closely integrated with the EU, especially since the country's EU accession in 2004. While the conservative, inward-looking Czech financial system has remained relatively healthy, the small, open, export-driven Czech economy remains sensitive to changes in the economic performance of its main export markets, especially Germany. When Western Europe and Germany fell into recession in late 2008, demand for Czech goods plunged, leading to double digit drops in industrial production and exports. As a result, real GDP fell 4.7% in 2009, with most of the decline occurring during the first quarter. Real GDP, however, slowly recovered with positive quarter-on-quarter growth starting in the second half of 2009 and continuing throughout 2011. In 2012, however, the economy fell into a recession due to a slump in external demand. The auto industry remains the largest single industry, and, together with its upstream suppliers, accounts for nearly 24% of Czech manufacturing. The Czech Republic produced more than a million cars for the first time in 2010, over 80% of which were exported. Foreign and domestic businesses alike voice concerns about corruption especially in public procurement. Other long term challenges include dealing with a rapidly aging population, funding an unsustainable pension and health care system, and diversifying away from manufacturing and toward a more high-tech, services-based, knowledge economy.

Source : CIA

Company Summary

Company Name SYNTHOS KRALUPY, A.S.

Company Registration Number 28214790

Country CZ

Activity Code 2016

Activity Description Manufacture of plastics in primary forms

Company Status Company Status.ACT

Latest Turnover 23,014,000,000.00 (CZK)

Latest Shareholders Equity 8,820,531,000.00 (CZK)

Rating Indicator Profit Before Tax 2,032,233,000.00 (CZK)

Company Identification

Activities

Activity Code 2016

Activity Description Manufacture of plastics in primary forms

Activity Code 2050

Activity Description Manufacture of other chemical products

Activity Code 2360

Activity Description Manufacture of articles of concrete, cement and plaster

Activity Code 2820

Activity Description Manufacture of other general-purpose machinery

Activity Code 3600

Activity Description Water collection, treatment and supply

Activity Code 3800

Activity Description Waste collection, treatment and disposal activities; materials recovery

Activity Code 4610

Activity Description Wholesale on a fee or contract basis

Activity Code 4690

Activity Description Non-specialised wholesale trade

Activity Code 4778

Activity Description Other retail sale of new goods in specialised stores

Activity Code 5210

Activity Description Warehousing and storage

Activity Code 5590

Activity Description Other accommodation

Activity Code 6200

Activity Description Computer programming, consultancy and related activities

Activity Code 6820

Activity Description Renting and operating of own or leased real estate

Activity Code 6920

Activity Description Accounting, bookkeeping and auditing activities; tax consultancy

Activity Code 7020

Activity Description Management consultancy activities

Activity Code 7110

Activity Description Architectural and engineering activities and related technical consultancy

Activity Code 7120

Activity Description Technical testing and analysis

Activity Code 7219

Activity Description Other research and experimental development on natural sciences and engineering

Activity Code 7400

Activity Description Other professional, scientific and technical activities

Activity Code 7430

Activity Description Translation and interpretation activities

Activity Code 7720

Activity Description Renting and leasing of personal and household goods

Activity Code 8559

Activity Description Other education n.e.c.

Basic Information

Company Name SYNTHOS KRALUPY, A.S.

Registered Company Name SYNTHOS KRALUPY A.S.

Company Registration Number 28214790

Country CZ

VAT Registration Number CZ28214790

Date of Company Registration 02/01/2008

Date of Starting Operations 02/01/2008

Commercial Court Municipal Court of Prague

Legal Form Public Limited Company

Type of Ownership Foreign ownership

Company Status Company Status ACT

Principal Activity Code 2016

Principal Activity Description Manufacture of plastics in primary forms

Contact Address O. Wichterleho 810, Kralupy nad

Vltavou - Lobeček 27801

Main Address

Address O. Wichterleho 810, Kralupy nad Vltavou- Lobeček 27801

Country CZ

Other Addresses

Address O. Wichterleho 810, Kralupy nad Vltavou- Lobeček 27801

Country CZ

Address O. Wichterleho 810, Kralupy nad Vltavou- Lobeček 27801

Country CZ

Address O. Wichterleho 810, Kralupy nad Vltavou - Lobeček 27801

Country CZ

Current Directors Managers

Name Zbigniew Warmuz

Position Chairman

Name Zbigniew Lange

Position Deputy – Chairman

Name Robert Oskard

Position Chairman of the supervisory board

Name Ing. Václav Havlů

Position Member of the Supervisory Board

Name Wieslaw Ziembla

Position Deputy - Chairman of the supervisory board

Share Capital Structure

Issued Share capital 2,000,000.00 (CZK)

Name SYNTHOS SPÓLKA AKCYJNA

Address , Oswiecim 32600

Share Percent 100.00 %

Employee Information

Year 2012

Number of Employees 750

Year 2011

Number of Employees 750

Year 2010

Number of Employees 750

Financial Statements

Profit & Loss

Financial Year 2012 2011 2010

Number of Weeks 52 52 52

Currency CZK CZK CZK

Revenue 0.00 0.00 16,210,450,000.00

Operating Costs 0.00 0.00 14,156,890,000.00

Operating Profit 2,135,743,000.00 3,243,909,000.00 2,053,560,000.00

Wages & Salaries 280,065,000.00 318,422,000.00 346,742,000.00

Depreciation 403,748,000.00 474,615,000.00 493,598,000.00

Financial Income 0.00 0.00 361,826,000.00

Financial Expenses 0.00 0.00 174,286,000.00

Retained Profit 1,640,254,000.00 2,698,851,000.00 1,842,383,000.00

Balance Sheet

Financial Year 2012 2011 2010

Number of Weeks 52 52 52

Currency CZK CZK CZK

Total Tangible Assets 3,331,791,000.00 3,535,376,000.00 3,751,024,000.00

Total Intangible Assets 5,394,000.00 4,527,000.00 151,838,000.00

Investments 614,093,000.00

Miscellaneous Fixed Assets 962,415,000.00 1,008,348,000.00 0.00

Total Other Fixed Assets 962,415,000.00 1,008,348,000.00 614,093,000.00

Total Fixed Assets 4,299,600,000.00 4,548,251,000.00 4,516,955,000.00

Total Inventories 1,620,969,000.00 1,317,591,000.00 1,072,218,000.00

Trade Receivables 0.00 0.00 13,756,000.00

Miscellaneous Receivables 5,450,775,000.00 4,195,736,000.00 2,896,565,000.00

Total Receivables 5,450,775,000.00 4,195,736,000.00 2,910,321,000.00

Cash 5,450,775,000.00 4,195,736,000.00 1,988,559,000.00

Other Current Assets -2,294,876,000.00 -863,926,000.00 37,924,000.00

Total Current Assets 10,227,643,000.00 8,845,137,000.00 6,009,022,000.00

Total Assets 14,527,243,000.00 13,393,388,000.00 10,525,977,000.00

Trade Payables 2,820,035,000.00 2,115,306,000.00 1,941,013,000.00

Bank Liabilities 3,761,941,000.00

Miscellaneous Liabilities 2,324,773,000.00 3,429,149,000.00 32,762,000.00

Total Current Liabilities 5,144,808,000.00 5,544,455,000.00 5,735,716,000.00

Miscellaneous Liabilities due

after 1 year 561,904,000.00 668,656,000.00 278,244,000.00

Total Long Term Liabilities 561,904,000.00 668,656,000.00 278,244,000.00

Total Liabilities	5,706,712,000.00	6,213,111,000.00	6,013,960,000.00
Called Up Share Capital	2,000,000.00	2,000,000.00	2,000,000.00
Revenue Reserves	7,177,877,000.00	4,479,026,000.00	2,667,234,000.00
Other Reserves	1,640,654,000.00	2,699,251,000.00	1,842,783,000.00
Total Shareholders Equity	8,820,531,000.00	7,180,277,000.00	4,512,017,000.00
Other Financials
Working Capital	5,082,835,000.00	3,300,682,000.00	273,306,000.00
Net Worth	8,815,137,000.00	7,175,750,000.00	4,360,179,000.00

Ratios

Return on Total Assets Employed	0.00	0.00	51.29
Return on Net Assets Employed	0.00	0.00	21.99
Current Ratio	0.00	0.00	2.20
Liquidity Ratio/Acid Test	0.00	0.00	1.80
Current Debt Ratio	0.00	0.00	1.27
Equity in Percentage	65.05	58.00	46.23

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.53
UK Pound	1	Rs.99.75
Euro	1	Rs.84.75

INFORMATION DETAILS

Report Prepared by :

SDA

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.