MIRA INFORM REPORT

Report Date :

18.08.2014

IDENTIFICATION DETAILS

Name :	E.T.C.PHARMA
Registered Office :	Proezd Nagornyy d. 12, kor. 1, 117105 g Moskva
Country :	Russia
Financials (as on) :	31.12.2013
Date of Incorporation :	24.02.2000
Com. Reg. No.:	1027700020908
Legal Form :	Limited liability companies
Line of Business :	Agents specializing in the sale of particular products or ranges of products
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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Russia	A2	B1

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 towards a more market-based and globally-integrated economy, but stalling as a partially reformed, statist economy with a high concentration of wealth in officials' hands. 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. Russia is one of the world's leading producers of oil and natural gas and is also a top exporter of metals such as steel and primary aluminum. Russia's manufacturing sector is generally uncompetitive on world markets and is geared toward domestic consumption. Russia's reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the volatile swings in global prices. The economy, which had averaged 7% growth during 1998-2008 as oil prices rose rapidly, 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. Slowly declining oil prices over the past few years and difficulty attracting foreign direct investment have contributed to a noticeable slowdown in GDP growth rates. In late 2013, the Russian Economic Development Ministry reduced its growth forecast through 2030 to an average of only 2.5% per year, down from its previous forecast of 4.0 to 4.2%. In 2014, following Russia's military intervention in Ukraine, prospects for economic growth declined further, with expections that GDP growth could drop as low as zero

Source : CIA

Company name and address

OOO "E.T.S. FARMA"

proezd Nagornyy d. 12,

kor. 1, 117105 g Moskva
Tel: 74955029001
E-Mail: agio@agio-pharma.ru
Web: www.agio-pharma.com

Company summary

Legal form

Limited liability companies (OOO)

Established on

24/02/2000 - Limited liability companies (OOO)

Registered on

11/07/2002, Upravlenie Ministerstva Rossiyskoy Federatsii po nalogam i sboram po g.Moskve, RegNr.: 1027700020908 Tax number: 7730124019 Statistical number: 52639444

Registered capital

RUB

10 000,-

Owner

MEZHDUNARODNAYA KOMPANIYA ETS FARMA LIMITED SHEYKH ZAYED ROUD KHALID AL ATTAR TAUER СВИТ 1003, П.Я. 7124 g Dubay, United Arab Emirates

%

100

Sole Executive Body

Svetlana Evgenevna KHarchevnikova Managing director

General data

Main activity: Agents specializing in the sale of particular products or ranges of products n.e.c.

(51.18.27)

Commercial name:
Agio Pharmaceuticals

Full name:
Obshchestvo s ogranichennoy otvetstvennostyu "E.T.S. FARMA"

Name in foreign language:
"E.T.C.PHARMA"

Short name:
OOO "E.T.S. FARMA"

Residence address:
prospekt Kutuzovskiy d. 20 str. 4 Комнт 18, 121151 g Moskva

Permanent address:
proezd Nagornyy d. 12, kor. 1, 117105 g Moskva
Tel:
74955029001
E-Mail:
agio@agio-pharma.ru
Web:
www.agio-pharma.com

As open sources inform, the main activity of OOO "E.T.S. FARMA" is pharmaceutical retail.

Other activities

:

Agents specializing in the sale of particular products or ranges of products n.e.c.

(51.18.1)

Agents involved in the sale of a variety of goods

(51.19)

Wholesale of pharmaceutical goods

(51.46.1)

Other retail sale in specialized stores

(52.48)

Storage and warehousing

(63.12.4)

Other supporting land transport activities

(63.21)

Activities of other transport agencies

(63.40)

Market research and public opinion polling

(74.13)

Hospital activities

(85.11)

Annual turnover

31/12/2006

Enterprise turnover

RUB

176 354 000,-

31/12/2007

Enterprise turnover

RUB

241 066 000,-

31/12/2008

Enterprise turnover

RUB

210 452 000,-

31/12/2009

Enterprise turnover

RUB

230 784 000,-

31/12/2010

Enterprise turnover

RUB

197 393 000,-

31/12/2011

Enterprise turnover

RUB

253 959 000,-

31/12/2012

Enterprise turnover

RUB

296 916 000,-

31/12/2013

Enterprise turnover

RUB

301 630 000,-

Remarks

The subject has the following license: FS-99-02-003626 - Pharmaceutical activity: Wholesale drug for medical use - Unlimited; FS-99-02-002680 - Pharmaceutical activity: Wholesale drug for medical use - Unlimited; FS-99-02-000048 - Pharmaceutical activity - Unlimited. According to the research, affiliation through the director of OOO "E.T.S. FARMA", Svetlana Evgenevna Kharchvnikova, with other legal persons has not been revealed. OOO "E.T.S. FARMA" has not participated in court cases. Acсording to information, disclosed by the Federal Tax Service, OOO "E.T.S. FARMA" does not have tax arrears, company is not going to be excluded from the state register as non-active. According to information, disclosed by the Pension Fund of Russian Federation, OOO "E.T.S. FARMA" does not have delays in social payments. According to information, disclosed by the Federal Labor Service, OOO "E.T.S. FARMA" does not plan to attract foreign employees. OOO "E.T.S. FARMA" is not in the list of default debtors, the Register of unfair suppliers, the blacklist of Russian companies. The management of company is not in the list of default debtors, the register of disqualified persons, the blacklist of Russian Private Persons. OOO "E.T.S. FARMA" did not participate in court cases. There is no negative information about company in open sources.

financial data

A. 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).
B. The enclosed balance of 2013 is originated from official source, no data available about authentication. (31.12.2013 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).

balance	A 31.12.2012	B 31.12.2013	C
1. ASSETS
I. FIXED ASSETS
Intangible assets	0	0
The results of research and development	0	0
Intangible research assets	0	0
Tangible research assets	0	0
Fixed assets	115	107
Profitable investments in tangible assets	0	0
Financial investments	0	0
Deferred tax assets	0	0
Other non-current assets	0	0
TOTAL IN SECTION I.	1 150	107
II. CURRENT ASSETS
Inventories	23 830	11 465
VAT on acquired assets	202	1
Accounts receivable	112 982	40 212
Financial investments (excluding the monetary equivalent)	0	0
Cash and monetary equivalents	1 689	891
Other current assets	166	197
TOTAL IN SECTION II.	138 869	52 766
BALANCE	138 984	52 879
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital, deposits capital, partners capital)	10	10
Treasury stock	0	0
Revaluation of fixed assets	0	0
Additional capital (without revaluation)	0	0
Reserve capital	0	0
Retained earnings (uncovered loss)	-39 791	-64 345
TOTAL IN SECTION III.	-39 781	-64 335
IV. LONG-TERM LIABILITIES
Borrowed funds	0	0
Deferred tax liabilities	0	0
Provisions	0	0
Other liabilities	0	0
TOTAL IN SECTION IV.	0	0
V. SHORT-TERM LIABILITIES
Borrowed funds	0	0
Payables	178 765	117 066
Deferred income	0	0
Provisions	0	142
Sonstige Verbindlichkeiten	0	0
TOTAL IN SECTION V.	178 765	117 208
BALANCE	138 984	52 873

A. The enclosed profit and loss account of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB)
B. The enclosed profit and loss account of 2013 is originated from official source, no data available about authentication. (31.12.2013 - 1000 RUB)

PROFIT AND LOSS ACCOUNT	A 31.12.2012	B 31.12.2013	C
Turnover	296 916	301 630
Cost of sales	269 873	265 077
Gross profit (loss)	27 043	36 553
Selling expenses	28 075	36 307
Administrative expenses	0	0
Sales profit (loss)	-1 032	246
Earnings from other entities	0	0
Interest receivable	0	0
Interest payable	0	0
Other operating income	61 530	22 125
Other operating expenses	50 660	46 925
Profit (loss) before tax	9 838	-24 554
Current profit tax	0	2
Permanent tax liabilities (assets)	0	0
Change in deferred tax liabilities	0	0
Change in deferred tax assets	0	0
Different	810	0
Net profit (loss)	9 028	-24 552
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	9 028	-24 552

Ratios

2012

2013

Quick ratio

0,64

0,35

Current ratio

0,14

0,11

Average Collection Period

69,44

92,69

Payables turnover Period

121

204

Debt ratio

1,29

2,22

Equity to total assets ratio

-0,29

-1,22

Funding ratio

-0,22

-0,55

Return on sales

3,04

-8,14

Return on Assets

7,08

-46,43

Return on Equity

n/a

47,16

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.06
UK Pound	1	Rs.101.84
Euro	1	Rs.81.56

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	NIS

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.