MIRA INFORM REPORT

Report Date :

28.08.2014

IDENTIFICATION DETAILS

Name :	AGAMA IMPEX

Registered Office :	d 210, 143581 Moskovskaya obl, Istrinskiy r-n, d Leshkovo

Country :	Russia

Financials (as on) :	31.12.2009

Date of Incorporation :	22.03.2005

Com. Reg. No.:	1057746483948

Legal Form :	Limited liability companies

Line of Business :	Wholesale of sugar and chocolate and sugar confectionery

No. of Employees	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
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

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 "AGAMA IMPEKS"

d 210,
143581 Moskovskaya obl, Istrinskiy r-n, d Leshkovo

Tel: 74955807080
Telefax: 74955809640
E-Mail: info@agama.info
Web: www.agama.info

Company summary

Legal form	Limited liability companies (OOO)
Established on		22/03/2005 - Limited liability companies (OOO)

Registered on	22/03/2005, Mezhrayonnaya inspektsiya Federalnoy nalogovoy sluzhby № 46 po g. Moskve, RegNr.: 1057746483948 Tax number: 7723534695 Statistical number: 76458517
Registered capital		RUB	15 030 060,-

Owner	OOO "Alma Tekhnolodzhi" (Statistical number: 58048879) ul Argunovskaya d 2, korp 1, 129075 g Moskva		%	100
Sole Executive Body		YURIY OLEGOVICH ALASHEEV Managing director

General data	Main activity: Non-specialized wholesale of food		(51.39.1)
		Full name: Obshchestvo s ogranichennoy otvetstvennostyu "AGAMA IMPEKS"

	Name in foreign language: "AGAMA IMPEX"
	Short name: OOO "AGAMA IMPEKS"


	Residence address: d 210, 143581 Moskovskaya obl, Istrinskiy r-n, d Leshkovo Tel: 74955807080 Telefax: 74955809640 E-Mail: info@agama.info Web: www.agama.info

The main activity of OOO “AGAMA IMPEKS” is wholesale trade of frozen food of the brands “AGAMA”, VIVA LA CREMA”, “BO FROST”, etc.

Other activities

	:
	Wholesale of sugar and chocolate and sugar confectionery	(51.36.22)

	Wholesale of other food	(51.38)
	Wholesale of other food	(51.38.1)

	Wholesale of other food	(51.38.29)
	Storage and warehousing	(63.12.1)

	Other financial intermediation n.e.c.	(65.23)
	Miscellaneous business activities n.e.c.	(74.8)

		Other business activities not elsewhere classified				(74.84)
Annual turnover	31/12/2006		Enterprise turnover	RUB	33 249 000,-

	31/12/2007	Enterprise turnover	RUB	2 500 000,-
	31/12/2008	Enterprise turnover	RUB	4 123 000,-

	31/12/2009		Enterprise turnover	RUB	102 612 000,-
Remarks		According to the research, managing director of OOO “AGAMA IMPEKS” is also managing director and shareholder of 20 companies, 5 of which were liquidated. OOO “AGAMA IMPEKS” has not participated in court cases. According to the information, disclosed by the Federal Tax Service, OOO “AGAMA IMPEKS” does not have tax arrears, the company is not going to be excluded from the state register as non-active. According to the information, disclosed by the Pension Fund of Russian Federation, OOO “AGAMA IMPEKS” does not have delays in social payments. According to the information, disclosed by the Federal Labor Service, OOO “AGAMA IMPEKS” does not plan to attract foreign employees. According to the research, OOO “AGAMA IMPEKS” does not meet the most frequently encountered in practice characteristics of unreliable companies (so-called “shell” companies), developed by the Federal Tax Service of Russian Federation. OOO “AGAMA IMPEKS” is not in the list of default debtors, the Register of unfair suppliers, the blacklist of Russian companies. The management of the company is not in the list of default debtors, the register of disqualified persons, the blacklist of Russian Private Persons.

Financial data

A. The enclosed Updated Balance Form of 2007 is originated from official source, no data available about authentication. (31.12.2007 - 1000 RUB)
B. The enclosed Updated Balance Form of 2008 is originated from official source, no data available about authentication. (31.12.2008 - 1000 RUB)
C. The enclosed balance of 2009 is originated from official source, no data available about authentication. (31.12.2009 - 1000 RUB)

UPDATED BALANCE FORM	A 31.12.2007	B 31.12.2008	C 31.12.2009
1. ASSETS
I. FIXED ASSETS
Intangible assets	0	0	0
Fixed assets	2	0	2
Construction in progress	0	0	0
Profitable investments in tangible assets	0	0	0
Long-term financial investments	0	0	0
Deferred tax assets	0	0	0
Other non-current assets	0	0	0
TOTAL IN SECTION I.	2	0	2
II. CURRENT ASSETS
Inventories	0	1	0
raw materials, materials and other similar assets	0	0	0
live stock	0	0	0
WIP costs	0	0	0
finished goods and goods for resale	0	0	0
goods shipped	0	0	0
Deferred expenses	0	1	0
other inventories and costs	0	0	0
VAT on acquired assets	0	0	2 009
Accounts receivable (due after 12 months)	0	0	0
trade accounts receivable	0	0	0
Accounts receivable (due before 12 months)	45 786	67 080	230 870
trade accounts receivable	2 700	0	69 500
Short-term financial investments	0	0	0
Cash	7 889	900	98
Other current assets	0	0	0
TOTAL IN SECTION II.	53 675	67 981	232 977
Net Worth	53 677	67 981	232 979
2. LIABILITIES
Nominal capital	10	10	10
Treasury stock	0	0	0
Additional capital	0	0	0
Reserve capital	0	0	0
legal reserves	0	0	0
statutory reserves	0	0	0
Retained earnings (uncovered loss)	912	1 862	4 416
TOTAL IN SECTION III.	922	1 872	4 426
IV. LONG-TERM LIABILITIES
Borrowings and loans	0	0	0
Deferred tax liabilities	0	0	0
Other long-term liabilities	0	0	0
TOTAL IN SECTION IV.	0	0	0
V. SHORT-TERM LIABILITIES
Borrowings and loans	0	0	72 212
Accounts payable	52 755	66 109	156 341
trade accounts payable	52 665	65 728	152 303
payables to employees	48	135	529
payables to state extra-budgetary funds	0	0	0
taxes payable	42	246	3 494
other creditors	0	0	15
Dividends payable	0	0	0
Deferred income	0	0	0
Reserves for future expenses	0	0	0
Other short-term liabilities	0	0	0
TOTAL IN SECTION V.	52 755	66 109	228 553
BALANCE	53 677	67 981	232 979
Report about values recorded on the Out-of-Balance Accounts
Leased assets	0	19	19
operating leasing	0	0	0
Goods and materials accepted for custody	0	0	0
Goods accepted for commission	0	0	0
Indebtedness of insolvent debtors written off to losses	0	0	0
Securities received for obligations and payment	0	0	0
Securities given for obligations and payment	0	0	0
Depreciation of housing stock	0	0	0
Depreciation of land improvement facilities and other similar objects	0	0	0
Intangible assets for use	0	0	0
A. The enclosed Updated PnL of 2007 is originated from official source, no data available about authentication. (31.12.2007 - 1000 RUB) B. The enclosed Updated PnL of 2008 is originated from official source, no data available about authentication. (31.12.2008 - 1000 RUB) C. The enclosed profit and loss account of 2009 is originated from official source, no data available about authentication. (31.12.2009 - 1000 RUB)

Profit and loss

UPDATED PNL	A 31.12.2007	B 31.12.2008	C 31.12.2009
Net revenue from sales of goods, products, operations and services (less VAT, excise taxes and similar payments)	2 500	4 123	102 612
Cost of goods, products, operations, and services sold	0	0	94 016
Gross profit	2 500	4 123	8 596
Selling expenses	1 828	2 697	5 840
Administrative expenses	0	0	0
Sales profit (loss)	672	1 426	2 756
Interest receivable	0	0	0
Interest payable	0	0	0
Earnings from other entities	0	0	0
Other operating income	30	37	5 712
Other operating expenses	376	180	5 269
Profit (loss) before tax	326	1 283	3 199
Deferred tax assets	0	0	0
Deferred tax liabilities	0	0	0
Current profit tax	87	333	645
Net profit (loss) of the reported period	239	950	2 554
Constant tax liabilities	0	0	5

Ratios

Ratios

2007

2008

2009

	Quick ratio	1,02	1,03	1,01
	Current ratio	1,02	1,03	1,01

	Average Collection Period	4630	4927	523
	Payables turnover Period	n/a	n/a	426

	Debt ratio	0,98	0,97	0,98
	Equity to total assets ratio	0,02	0,03	0,02

	Funding ratio	0,02	0,03	0,02
	Return on sales	9,56	23,04	2,49

	Return on Assets	0,61	1,89	1,37
	Return on Equity	29,78	68	81,11

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.46
UK Pound	1	Rs.100.14
Euro	1	Rs.79.65

INFORMATION DETAILS

Analysis Done by :	DIV

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.