MIRA INFORM REPORT

Report Date :

16.01.2014

IDENTIFICATION DETAILS

Name :	KONIMPEX SP. Z O.O.
Formerly Known As :	PRZEDSIĘBIORSTWO PRODUKCYJNO-HANDLOWE KONIMPEX SP. Z O.O
Registered Office :	Ul. Mickiewicza 24 62-500 Konin
Country :	Poland
Financials (as on) :	31.12.2012
Date of Incorporation :	25.09.1989
Legal Form :	Limited liability company
Line of Business :	Export and import of chemical raw materials for rubber and tyre industry; Sale, export and import of cellulose, plastics and other raw materials
No. of Employees :	141

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 :	No complaints
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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
Poland	B1	B1

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

POLAND - ECONOMIC OVERVIEW

Poland has pursued a policy of economic liberalization since 1990 and Poland's economy was the only one in the European Union to avoid a recession through the 2008-09 economic downturn. Although EU membership and access to EU structural funds have provided a major boost to the economy since 2004, GDP per capita remains significantly below the EU average while unemployment continues to exceed the EU average. The government of Prime Minister Donald TUSK steered the Polish economy through the economic downturn by skillfully managing public finances without stifling economic growth and adopted controversial pension and tax reforms to further shore up public finances. While the Polish economy has performed well over the past five years, growth slowed in 2012, in part due to the ongoing economic difficulties in the euro zone. The key policy challenge is to provide support to the economy through monetary easing, while maintaining the pace of structural fiscal consolidation. Poland's economic performance could improve over the longer term if the country addresses some of the remaining deficiencies in its road and rail infrastructure and its business environment. An inefficient commercial court system, a rigid labor code, red tape, and a burdensome tax system keep the private sector from realizing its full potential

Source : CIA

company name and address

KONIMPEX SP. Z O.O.

ul. Mickiewicza 24
62-500 Konin

Phone:    63 2497792, 2497793

Fax:      63 2497794

E-mail:   konimpex@konimpex.com.pl

Website:  www.konimpex.pl

Company summary

Legal form	Limited liability company
Stat.no.	008273909
Tax ID	PL 6650001148

Establishment	25.09.1989
Changes of names and addresses	25.09.1989 Przedsiębiorstwo Produkcyjno-Handlowe KONIMPEX Sp. z o.o. ul. Spółdzielców 3, 62-510 Konin
	17.09.2001 KONIMPEX Sp. z o.o.
	01.10.2005  ul. Mickiewicza 24, 62-500 Konin

Registration

Registration:

17.09.2001, District Court Poznań IX Department, KRS 43189 Data concerning previous registrations: 11.10.1989, District Court Konin, RHB 218

Shareholders

Shareholders	Wiesław Wojciech Pluta Plutowski , personal ID no. (PESEL) 47092901297, Kolno 4A, 62-590 Golina	PLN	179 000,00 50,14%
	Anna Grażyna Pluta Plutowska , personal ID no. (PESEL) 54010209649, Kolno 4A, 62-590 Golina	PLN	178 000,00 49,86%
	list entered to NCR /KRS/ on  08.08.2013

Initial Capital		PLN 357 000,00
	Initial capital divided into 357 shares of PLN 1 000,00 each
	Changes of initial capital
	- since 25.02.2010  until 08.08.2013  the capital estimated	PLN 330 480,00
	- since 09.07.2007  until 25.02.2010  the capital estimated	PLN 324 000,00
	-  until 09.07.2007  the capital estimated	PLN 162 000,00

Management

Management

Wiesław Wojciech Pluta Plutowski , personal ID no. (PESEL) 47092901297, Kolno 4A, 62-590 Golina  - president Krzysztof Płoszek , personal ID no. (PESEL) 71041105555, ul. Admiralska 8, 62-510 Konin  - vice president Monika Szymczukiewicz , personal ID no. (PESEL) 81031203862, ul. Kruczkowskiego 3, 62-530 Kazimierz Biskupi  - member of board of directors Marcin Jakub Kłosiński , personal ID no. (PESEL) 72070303336, Jankowo Gdańskie  ul. Jantarowa 23  - member of board of directors

Representation: Each member of the board of directors individually

activity

Main activity	Sale, export and import of chemical raw materials for rubber and tyre industry; Sale, export and import of cellulose, plastics and other raw materials
	Branches NACE 2007:
	Wholesale of chemical products	(G.46.75.Z)
	Other wholesale	(G.46.73.Z)

Employment

Employment

2008:             146      employees 2009:             134      employees 2010:             141      employees 2011:             136      employees 2012:            141     employees

financial

Turnover	2008	PLN	579 554 330,65
	2009	PLN	513 512 540,75
	2010	PLN	740 240 625,41
	2011	PLN	978 133 810,19
	2012	PLN	1 296 398 465,99
consolidated turnover	2007	PLN	501 300 600,58
	2008	PLN	602 315 853,80
	2009	PLN	529 463 900,17
	2010	PLN	743 215 152,97
	2011	PLN	1 000 517 977,07

Financial statements

Source of financial data	Court	Monitor Polski B	Monitor Polski B	Monitor Polski B
	annual	annual	annual	annual
Personal balance sheet as at	31.12.2012 (PLN)	31.12.2011 (PLN)	31.12.2010 (PLN)	31.12.2009 (PLN)
-A. Fixed assets......................	59 174 163,83	57 336 159,14	51 926 144,87	56 424 601,60
-  I.   Intangible assets.............	1 380 045,74		22 101,08	81 361,77
-    3. Other intangible assets.......	1 380 045,74		22 101,08	81 361,77
-  II.  Tangible assets...............	11 892 827,16	12 800 523,21	11 985 050,84	12 362 027,12
-    1. Fixed goods...................	11 577 730,53	11 622 559,88	11 680 160,56	12 105 756,59
-      a) land........................	519 593,56	527 428,90	862 617,27	840 075,34
-      b) buildings, premises, facilities............................	8 979 731,62	9 339 549,12	9 697 055,46	10 084 413,58
-      c) machinery and equipment.....	1 041 724,42	802 895,50	505 898,61	561 362,58
-      d) fleet of motor vehicles.....	861 461,43	791 814,19	443 816,23	399 982,40
-      e) other fixed goods...........	175 219,50	160 872,17	170 772,99	219 922,69
-    2. Fixed goods under construction..........................	179 584,44	1 177 963,33	304 890,28	256 270,53
-    3. Prepayments for fixed goods under construction....................	135 512,19
-  III. Long term receivables.........			5 000,00	5 000,00
-    2. Other receivables.............			5 000,00	5 000,00
-  IV.  Long term investments.........	44 599 906,93	43 099 906,93	38 981 619,07	42 941 240,71
-    1. Real estate...................	29 620 333,52	29 620 333,52	30 932 686,78	30 932 686,78
-    3. Long term financial assets....	14 979 573,41	13 479 573,41	8 048 932,29	12 008 553,93
-      a) in affiliated companies.....	14 979 573,41	13 479 423,41	8 048 782,29	12 008 403,93
-        - participations or shares...	14 979 573,41	13 479 423,41	8 048 782,29	12 008 403,93
-      b) Other.......................		150,00	150,00	150,00
-        - participations or shares...		150,00	150,00	150,00
-V. Long-term prepayments and accrued income........................	1 301 384,00	1 435 729,00	932 373,88	1 034 972,00
-  1. Deferred tax assets.............	1 104 659,00	1 199 659,00	843 265,00	1 034 972,00
-  2. Other prepayments...............	196 725,00	236 070,00	89 108,88
-B. Current assets....................	265 350 145,52	287 211 793,59	184 487 743,49	141 808 411,60
-  I.   Stock.........................	93 016 128,11	126 903 243,17	73 331 207,03	50 394 925,05
-    1. Raw materials.................	160 565,13	186 212,61	308 385,49	181 343,01
-    4. Goods for re-sale.............	92 022 329,52	124 672 233,07	72 468 361,72	49 960 311,27
-    5. Advance payments .............	833 233,46	2 044 797,49	554 459,82	253 270,77
-  II. Short-term receivables.........	155 469 130,19	145 634 136,05	94 138 868,54	70 776 516,74
-    1. Receivables from affiliated companies.............................	2 265 606,95	5 553 899,98	1 051 688,39	331 017,46
-      a) Due to deliveries and services with payment period:.........	2 137 956,95	5 426 249,98	1 051 688,39	331 017,46
-        - up to 12 months............	2 137 956,95	5 426 249,98	1 051 688,39	331 017,46
-      b) Other.......................	127 650,00	127 650,00
-    2. Other receivables ............	153 203 523,24	140 080 236,07	93 087 180,15	70 445 499,28
-      a) Due to deliveries and services with payment period:.........	148 708 238,32	136 888 264,99	80 935 904,10	63 298 157,35
-        - up to 12 months............	148 708 238,32	136 888 264,99	80 935 904,10	63 298 157,35
-      b) Due to taxes, subsidies, insurances, duties, etc...............	3 010 623,63	2 397 843,36	7 526 676,25	5 817 050,80
-      c) Other.......................	1 484 661,29	794 127,72	4 624 599,80	1 330 291,13
-  III. Short term investments........	15 943 463,82	13 634 072,79	16 305 355,37	19 818 291,10
-    1. Short-term financial assets...	15 943 463,82	13 634 072,79	16 305 355,37	19 818 291,10
-      a) in affiliated companies.....	1 005 512,11		11 130 460,63	6 669 844,47
-        - granted loans..............	1 005 512,11		11 130 460,63	6 669 844,47
-      b) Other.......................	4 357 301,54	4 676 978,54	4 047 421,49	5 479 753,65
-        - granted loans..............	4 357 301,54	4 676 978,54	4 047 421,49	5 479 753,65
-      c) cash and other liquid assets................................	10 580 650,17	8 957 094,25	1 127 473,25	7 668 692,98
-        - cash in hand and on bank account...............................	10 580 650,17	8 357 094,25	1 127 473,25	7 668 692,98
-        - other liquid assets........		600 000,00
-IV. Short-term prepayments and accrued income........................	921 423,40	1 040 341,58	712 312,55	818 678,71
-D. Total assets......................	324 524 309,35	344 547 952,73	236 413 888,36	198 233 013,20
-A. Shareholders' equity..............	72 941 753,97	97 076 115,06	73 877 618,62	79 557 941,66
-  I.   Basic share capital...........	330 480,00	330 480,00	330 480,00	324 000,00
-  IV.  Statutory reserve capital.....	58 245 635,06	73 547 138,62	51 657 901,58	72 601 379,89
-  VIII. Net profit (loss)............	14 365 638,91	25 698 496,44	22 909 237,04	7 732 561,77
-  IX.  Deductions from profit during the accounting year (-.........		-2 500 000,00	-1 020 000,00	-1 100 000,00
-B. Liabilities and reserves for liabilities...........................	251 582 555,38	247 471 837,67	162 536 269,74	118 675 071,54
-  I.   Reserves for liabilities......	1 080 574,00	797 524,00	580 208,00	5 608 581,00
-    1. Deferred income tax reserves..	771 564,00	737 524,00	522 008,00	513 681,00
-    2. Reserves for pensions and similar social payments...............	257 010,00
-      - short-term...................	257 010,00
-    3. Other reserves................	52 000,00	60 000,00	58 200,00	5 094 900,00
-      - short-term...................	52 000,00	60 000,00	58 200,00	5 094 900,00
-II.  Long-term liabilities...........	18 852 028,40	7 924 915,56	15 856 963,19	15 364 863,32
-  2. Other liabilities...............	18 852 028,40	7 924 915,56	15 856 963,19	15 364 863,32
-    a) Loans.........................	1 306 887,41	4 097 491,87	8 272 500,24	15 227 210,00
-    c) Other financial liabilities...	17 545 140,99	3 827 423,69	7 576 044,95	129 235,32
-    d) Other.........................			8 418,00	8 418,00
-III. Short-term liabilities..........	231 617 785,25	238 709 395,04	146 051 260,14	97 383 286,59
-  1. Due to affiliated companies.....	736 580,90	415 723,14	1 958 841,83	1 560 890,32
-    a) Due to deliveries and services with payment period:.........	736 580,90	415 723,14	1 958 841,83	1 560 890,32
-      - up to 12 months..............	736 580,90	415 723,14	1 958 841,83	1 560 890,32
-  2. Other liabilities...............	230 480 456,20	237 951 015,52	143 799 905,68	95 527 149,38
-    a) Loans.........................	87 909 645,82	98 307 869,63	52 502 571,01	35 996 269,80
-    c) Other financial liabilities...	13 821 735,35	4 834 793,91	7 961 798,67	941 575,68
-    d)Due to deliveries and services with payment period:.........	125 795 667,55	124 925 324,37	76 926 878,41	56 048 163,50
-      - up to 12 months..............		124 925 324,37	76 926 878,41	56 048 163,50
-    e) Advances received.............	944 317,93	808 898,34	569 102,31	441 345,61
-    g) Due to taxes, subsidies, insurances, duties, etc...............	862 085,96	8 191 998,06	5 048 491,59	1 548 834,93
-    h) Due to salaries...............	566 736,22	649,00	166 575,85	109,61
-    i) Other.........................	580 267,37	881 482,21	624 487,84	550 850,25
-  3. Special funds...................	400 748,15	342 656,38	292 512,63	295 246,89
-IV.  Accruals and deferred income....	32 167,73	40 003,07	47 838,41	318 340,63
-  2. Other accruals..................	32 167,73	40 003,07	47 838,41	318 340,63
-    - long-term......................	24 332,39	32 167,73		47 911,44
-    - short-term.....................	7 835,34	7 835,34		270 429,19
-D. Total liabilities.................	324 524 309,35	344 547 952,73	236 413 888,36	198 233 013,20
Source of financial data	Court	Monitor Polski B	Monitor Polski B	Monitor Polski B
	annual	annual	annual	annual
individual PROFIT AND LOSS ACCOUNT	01.01.2012- 31.12.2012 (PLN)	01.01.2011- 31.12.2011 (PLN)	01.01.2010- 31.12.2010 (PLN)	01.01.2009- 31.12.2009 (PLN)
-A. Income from sales and similar.....	1 296 398 465,99	978 133 810,19	740 240 625,41	513 512 540,75
-  - including related companies......	28 566 931,79	42 020 154,42	17 261 466,33	10 250 679,65
-  I.   Net revenue form sale of products..............................	1 085 128,44	882 565,49	1 988 644,15	429 490,59
-  II.  Net revenue from sale of goods.................................	1 295 313 337,55	977 251 244,70	738 251 981,26	513 083 050,16
-B.Cost of products, goods sold.......	1 145 337 583,74	822 585 697,30	617 908 056,18	426 184 025,43
-  - including related companies......	25 165 815,72	36 882 304,62	13 150 483,79	8 463 031,76
-  I.  Cost of production of products sold.........................	282 098,21	208 314,58	395 984,39	153 935,38
-  II.  Value of products sold........	1 145 055 485,53	822 377 382,72	617 512 071,79	426 030 090,05
-C. Gross profit on sale..............	151 060 882,25	155 548 112,89	122 332 569,23	87 328 515,32
-D. Costs of sale.....................	112 803 885,49	86 726 778,21	74 299 110,00	54 491 222,84
-E. General management costs..........	15 098 322,46	12 759 854,84	12 684 404,81	11 835 548,73
-F. Profit on sale....................	23 158 674,30	56 061 479,84	35 349 054,42	21 001 743,75
-G. Other operating incomes...........	1 070 951,68	2 323 489,74	1 334 842,83	1 145 427,23
-  I.   Incomes from disposal of fixed assets..........................	58 028,84	555 391,55	4 237,18	93 590,06
-  II.  Subsidies.....................	107 239,03	120 663,56
-  III. Other operating incomes.......	905 683,81	1 647 434,63	1 330 605,65	1 051 837,17
-H. Other operating costs.............	6 189 589,85	3 997 418,69	761 456,52	6 814 361,91
-  II.  Goodwill revaluation..........	4 737 813,48	1 988 523,23	130 078,68	1 165 613,85
-  III. Other operating costs.........	1 451 776,37	2 008 895,46	631 377,84	5 648 748,06
-I. Profit on operating activities....	18 040 036,13	54 387 550,89	35 922 440,73	15 332 809,07
-J. Financial incomes.................	5 977 209,61	2 214 035,73	2 814 232,29	1 158 071,72
-  II.  Interest received.............	926 410,13	1 704 809,98	1 554 686,25	1 158 021,49
-    - including related companies....	31 018,69	37 303,97
-  IV.  Financial assets revaluation..	392 814,00	444 191,47
-  V.   Other.........................	4 657 985,48	65 034,28	1 259 546,04	50,23
-K. Financial costs...................	5 210 764,83	21 638 705,18	9 031 999,98	5 605 557,02
-  I.   Interest......................	4 604 435,38	3 487 307,81	2 761 387,67	3 404 536,89
-    - including related companies....		67 744,33
-  II.  Loss from assets sold.........	353 138,00		2 790,00
-  III. Financial assets revaluation..		5 437 867,88	5 594 820,92
-  IV.  Other.........................	253 191,45	12 713 529,49	673 001,39	2 201 020,13
-L. Gross profit on economic activity.	18 806 480,91	34 962 881,44	29 704 673,04	10 885 323,77
-M. Exceptional items.................			850,00
-  I.   Exceptional gains.............				3 386,14
-  II.  Exceptional losses............				3 386,14
-N. Gross profit......................	18 806 480,91	34 962 881,44	29 705 523,04	10 885 323,77
-O. Corporation tax...................	4 440 842,00	9 264 385,00	6 796 286,00	3 152 762,00
-R. Net profit........................	14 365 638,91	25 698 496,44	22 909 237,04	7 732 561,77

AUDITOR

Balance sheet as at 31.12.2012
GRANT THORNTON FRĄCKOWIAK SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ sp. k., ul. ABPA ANTONIEGO BARANIAKA 88 E, 61-131 Poznań	No. 3654

Expert auditor Jan  Letkiewicz

No. 9530

Balance sheet as at 31.12.2011
ERNST & YOUNG AUDYT POLSKA SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ sp. k., ul. Rondo ONZ 1, 00-124 Warszawa	No. 130

Expert auditor Andrzej Kowal

No. 90032

Balance sheet as at 31.12.2010
GRANT THORNTON FRĄCKOWIAK SPÓŁKA Z O.O., ul. ABPA ANTONIEGO BARANIAKA 88E, 61-131 Poznań	No. 238

Expert auditor Jan  Letkiewicz

No. 9530

Balance sheet as at 31.12.2009
GRANT THORNTON FRĄCKOWIAK SPÓŁKA Z O.O., ul. ABPA ANTONIEGO BARANIAKA 88E, 61-131 Poznań	No. 238

Expert auditor  Jan Letkiewicz

No. 9530/7106

Ratios	01.01.2012- 31.12.2012	01.01.2011- 31.12.2011	01.01.2010- 31.12.2010	01.01.2009- 31.12.2009
Current ratio	1,15	1,20	1,26	1,46
Quick ratio	0,74	0,67	0,76	0,93
Immediate ratio	0,05	0,04	0,01	0,08
Return on sale	1,11	2,63	3,09	1,51
Return on assets	4,43	7,46	9,69	3,90
Return on equity	19,69	26,47	31,01	9,72
Average trade debtors' days	43,89	54,34	46,42	50,31
Average stock turnover's days	26,26	47,36	36,16	35,82
average payables payment period	65,39	89,08	72,02	69,22
Total indebtedness ratio	77,52	71,83	68,75	59,87

While rating the company, it is advisable to take into consideration information about the branch  , the company is acting in
(G.46.75.Z - NACE 2007), as at :	30.09.2013	31.12.2012	31.12.2011	31.12.2010	31.12.2009
Current ratio............................	1,55	1,53	1,14	1,11	1,23
Quick ratio..............................	1,13	0,95	0,76	0,77	0,80
Immediate ratio..........................	0,13	0,10	0,09	0,08	0,10
Return on sale...........................	4,32	0,72	4,05	2,19	1,67
Return on assets.........................	6,59	1,71	8,69	4,46	3,50
Return on equity.........................	17,93	4,56	21,64	13,82	9,20
Average trade debtors' days..............	71,81	53,66	57,73	57,67	56,03
Average stock turnover's days............	31,39	36,55	34,45	33,96	34,46
average payables payment period..........	77,74	64,47	90,78	102,77	82,50
Total indebtedness ratio.................	63,26	62,54	59,82	67,75	61,93
Percent share in the examinated group of companies with net profit.............	91,20	91,50	94,40	87,30	85,70
Sales/revenue per employee in th. PLN....	1 866,06	2 613,50	2 400,45	2 096,10	1 840,31
Average sales/revenue per company in th. PLN..................................	223 680,44	297 644,08	258 606,56	213 369,35	186 893,24

according to the Central Statistical Office

Source of financial data	Monitor Polski B	Monitor Polski B	Monitor Polski B
	annual	annual	annual
Consolidated balance sheet as at	31.12.2011 (PLN)	31.12.2010 (PLN)	31.12.2009 (PLN)
-A. Fixed assets......................	50 552 327,84	50 325 639,37	54 315 129,50
-  Intangible assets..................	13 500,00	22 101,08	84 471,73
-    3. Other intangible assets.......	13 500,00	22 101,08	84 471,73
-  III. Tangible assets...............	13 000 399,52	12 187 222,20	12 389 045,06
-    1. Fixed assets..................	11 822 436,19	11 882 331,92	12 132 774,53
-      a) land (including perpetual usufruct right).......................	527 428,90	862 617,27	840 075,34
-      b) buildings...................	9 373 478,47	9 697 055,46	10 084 413,58
-      c) technical appliances and machniery.............................	805 897,10	505 898,61	570 161,12
-      d) fleet of motor vehicles.....	905 898,69	645 987,59	417 681,82
-      e) other fixed assets..........	209 733,03	170 772,99	220 442,67
-    2. Construction in progress......	1 177 963,33	304 890,28	256 270,53
-  IV. Long term receivables..........		5 000,00	5 000,00
-    1. From related companies........			5 000,00
-    2. From other companies..........		5 000,00
-  V. Long term investments...........	35 336 227,52	36 842 519,07	40 801 640,71
-    1. Real estate...................	32 431 057,52	30 932 686,78	30 932 686,78
-    3. Long term financial assets....	2 905 170,00	5 909 832,29	9 868 953,93
-      a) in related companies *......	473 314,41
-      a) in subsidiaries and dependant companies...................		5 516 868,29
-      a) in  subsidiaries not being trade companies.......................			9 868 803,93
-      b) in other companies..........	2 431 705,59
-      c) in other companies..........	150,00	392 964,00	150,00
-        - shares or stocks...........	150,00	392 964,00	150,00
-VI. Long term prepayments............	2 202 200,80	1 268 797,02	1 034 972,00
-  1. Defferred tax assets............	1 966 130,80	1 179 688,14	1 034 972,00
-  2. Other prepayments...............	236 070,00	89 108,88
-B. Current assets....................	320 722 187,65	197 737 306,14	150 358 815,80
-  I. Stocks..........................	145 187 715,20	90 298 121,82	63 897 847,61
-    1. Materials.....................	186 212,61	308 385,49	181 343,01
-    2. Goods and semi goods in production............................	8 804 759,07	9 563 073,27	3 809 128,08
-    3. Finished goods................	11 930 060,82	1 144 038,71	2 770 043,65
-    4. Wares.........................	122 186 435,71	78 686 418,53	56 879 176,10
-    5. Prepayments for supplies......	2 080 246,99	596 205,82	258 156,77
-  II. Short term receivables.........	146 757 716,19	95 102 754,50	70 936 514,97
-    1. Receivables from related companies.............................	5 325 130,17	990 004,10	328 377,51
-      a) due to deliveries with payment period........................	5 230 980,17	990 004,10	328 377,51
-        - to 12 months...............	5 230 980,17	990 004,10	328 377,51
-      b) inne........................	94 150,00
-    2. Receivables from other units..	141 432 586,02	94 112 750,40	70 608 137,46
-      a) due to deliveries with payment period........................	137 074 148,23	80 972 833,60	63 452 695,53
-        - to 12 months...............	137 074 148,23	80 972 833,60	63 452 695,53
-      b) due to taxes, donations, insurances, duties, etc...............	2 852 272,41	7 906 417,57	5 817 050,80
-      c) other.......................	1 506 165,38	5 233 499,23	1 338 391,13
-III. Short term investments..........	27 673 549,26	11 568 522,46	14 694 863,55
-  1. Short term financial assets.....	27 673 549,26	11 568 522,46	14 694 863,55
-    a) in related companies *........			1 441 594,72
-    a) in dependant companies........		3 197 761,52
-    c) in other companies............	4 676 978,54	4 047 421,49	5 479 753,65
-      - granted loans................		4 047 421,49	5 479 753,65
-    d) cash and other liquid means...	22 996 570,72	4 323 339,45	7 773 515,18
-      - cash in hand and on bank account...............................		1 671 253,39	7 773 515,18
-      - cash in hand *...............		2 652 086,06
-IV. Short term prepayments...........	1 103 207,00	767 907,36	829 589,67
-Total assets.........................	371 274 515,49	248 062 945,51	204 673 945,30
-A. Shareholders' Equity..............	107 817 425,27	77 109 070,24	84 138 651,54
-  I. Initial Capital.................	330 480,00	330 480,00	324 000,00
-  IV. Statutory reserve capital......	76 219 190,66	55 891 726,28	73 209 940,89
-  VI. Other reserve capital..........	346 885,18	346 885,18	346 885,18
-  IX. Net profit (loss)..............	33 420 869,43	21 559 978,78	11 357 825,47
-  X. Deductions from profit during the accounting year...................	2 500 000,00	1 020 000,00	1 100 000,00
-B. Minority capital..................	4 375 837,10	599 394,63	749 312,21
-D.  Liabilities and reserves for liabilities...........................	259 081 253,12	170 354 480,64	119 785 981,55
-  I. Reserves for liabilities........	862 524,00	807 623,24	5 615 081,00
-    1. Deffered tax reserve..........	737 524,00	636 656,00	513 681,00
-    3. Other reserves................	125 000,00	170 967,24	5 101 400,00
-      - short term...................	125 000,00	170 967,24	5 101 400,00
-II. Long term liabilities............	8 010 180,55	18 430 659,05	15 364 863,32
-  2. due to other units..............	8 010 180,55	18 430 659,05	15 364 863,32
-    a) credits and loans.............	4 097 491,87	10 725 525,57	15 227 210,00
-    c) other financial liabilities...	3 912 688,68	7 696 715,48	129 235,32
-    d) other.........................		8 418,00	8 418,00
-III. Short term liabilities..........	243 035 151,34	149 314 458,13	98 111 811,10
-  1. Due to related companies........	406 454,39	1 901 067,97	1 561 488,30
-    a) due to delivered goods with payment period:.......................	205 171,99	1 901 067,97	1 561 488,30
-      - to 12 months.................	205 171,99	1 901 067,97	1 561 488,30
-    b) other.........................	201 282,40
-  2. Due to other companies..........	242 261 800,43	147 094 449,53	96 234 255,27
-    a) credits and loans.............	99 407 909,63	54 099 160,45	36 365 971,58
-    c) other financial assets........	4 870 342,97	7 995 023,89	941 575,68
-    d) due to delivered goods with payment period........................	127 612 114,80	78 499 168,17	56 127 263,30
-      - to 12 months.................	127 612 114,80	78 499 168,17	56 127 263,30
-    e) prepayments for deliveries....	808 898,34	569 102,31	441 345,61
-    g) due to taxes, donations, insurances, duties, etc...............	8 677 926,57	5 140 411,75	1 746 368,81
-    h) due to salaries...............	649,00	166 575,85	43 019,49
-    i) other.........................	883 959,12	625 007,11	568 710,80
-  3. Special funds...................	366 896,52	318 940,63	316 067,53
-IV. Accurals and deferred income.....	7 173 397,23	1 801 740,22	694 226,13
-  2. Other...........................	7 173 397,23	1 801 740,22	694 226,13
-    - long term......................	32 167,73	40 003,07	47 911,44
-    - short term.....................	7 141 229,50	1 761 737,15	646 314,69
-Total liabilities....................	371 274 515,49	248 062 945,51	204 673 945,30
Source of financial data	Monitor Polski B	Monitor Polski B	Monitor Polski B
	annual	annual	annual
CONSOLIDATED Consolidated P/L	01.01.2011- 31.12.2011 (PLN)	01.01.2010- 31.12.2010 (PLN)	01.01.2009- 31.12.2009 (PLN)
-A. Net income form sale of goods, products and materials................	1 000 517 977,07	743 215 152,97	529 463 900,17
-  from related companies.............	40 730 809,92	17 150 769,19	10 207 089,50
-  I. Net income form sale of products..............................	23 267 812,04	4 972 349,70	16 380 850,01
-  II. Net income form sale of goods and materials.........................	977 250 165,03	738 242 803,27	513 083 050,16
-B. Costs of sale of goods, products and materials.........................	834 593 948,05	619 631 457,87	438 022 659,36
-  to related companies...............	32 811 850,40	13 150 483,47	8 463 031,76
-  I. Costs of manufacture of sold products..............................	12 216 565,33	2 119 386,08	11 992 569,31
-  II. Value of sold goods and materials.............................	822 377 382,72	617 512 071,79	426 030 090,05
-C. Gross profit from sale (A-B)......	165 924 029,02	123 583 695,10	91 441 240,81
-D. Costs of sale.....................	86 908 885,31	74 456 359,09	54 491 222,84
-E. Cost of management................	15 487 406,96	14 755 802,49	13 455 762,22
-F. Profit from sale (C-D-E)..........	63 527 736,75	34 371 533,52	23 494 255,75
-G. Other operating income............	2 460 596,72	1 395 241,21	3 638 166,56
-  I. Profit from sale of non-financial fixed assets............	332 440,83	4 237,18	168 590,06
-  II. Subsidies......................	120 663,56
-  III. Other operating income........	2 007 492,33	1 391 004,03	3 469 576,50
-H. Other operating costs.............	4 058 271,69	939 538,35	6 821 647,86
-  II. Update of value of non-financial assets..................	1 988 523,23	140 308,68	1 172 113,85
-  III. Other operating costs.........	2 069 748,46	799 229,67	5 649 534,01
-I. Profit from ordinary activity (F+G+H)...............................	61 930 061,78	34 827 236,38	20 310 774,45
-J. Financial income..................	2 332 954,24	2 418 877,06	903 008,36
-  II. Interests, including:..........	1 823 728,49	1 159 331,02	902 958,13
-    - from related companies.........		173 197,33	46 532,19
-  IV. Update of the investment value.	444 191,47
-  V. Other...........................	65 034,28	1 259 546,04	50,23
-K. Financial costs...................	19 226 581,77	9 377 039,38	5 888 683,26
-  I. Interests, including:...........	3 596 107,29	2 859 270,91	3 633 727,15
-  II. Loss from sale of the investment............................		2 790,00
-  III. Update of investments value...	5 437 867,88	5 594 820,92
-  IV. Other..........................	10 192 606,60	920 157,55	2 254 956,11
-M. Profit from business activity (I+J-K+-L)............................	45 036 434,25	27 869 074,06	15 325 099,55
-N. Result from extraordinary activities (N.I.-N.II.)...............		850,00
-  I. Extraordinary income............		850,00	3 386,14
-  II. Extraordinary loss.............			3 386,14
-P. Write off of negative goodwill value - subordinated companies........	-2 055 614,62
-Q. Gross profit (M+/-N-O+P)..........	47 092 048,87	27 869 924,06	15 325 099,55
-R. Income tax........................	9 335 342,34	6 459 862,86	3 564 467,00
-S. Other obligatory loss increases...	4 335 837,10
-U. Minority profits..................		149 917,58
-U. Minority losses...................			402 807,08
-W. Net profit (Q-R-S+-T+/-U).........	33 420 869,43	21 559 978,78	11 357 825,47

companies consolidated in financial statement as at

31.12.2010 -  KONIMPEX Sp. z o.o., ul. Mickiewicza 24, 62-500 Konin
           -  KONIMPEX-INVEST PROJEKT „POD KASZTANAMI” SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ SPÓŁKA KOMANDYTOWA W LIKWIDACJI, ul. Mickiewicza 24, 62-500 Konin
           -  KONIMPEX-INVEST SA, ul. Mickiewicza 24, 62-500 Konin

31.12.2009 -  KONIMPEX Sp. z o.o., ul. Mickiewicza 24, 62-500 Konin
           -  KONIMPEX-INVEST SA, ul. Mickiewicza 24, 62-500 Konin

AUDITOR

Consolidated balance sheet as at 31.12.2011
ERNST & YOUNG AUDYT POLSKA SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ sp. k., ul. Rondo ONZ 1, 00-124 Warszawa	No. 130

Expert auditor Andrzej Kowal

No. 90032

Consolidated balance sheet as at 31.12.2010
GRANT THORNTON FRĄCKOWIAK SPÓŁKA Z O.O., ul. ABPA ANTONIEGO BARANIAKA 88E, 61-131 Poznań	No. 238

Expert auditor Jan  Letkiewicz

No. 9530

Consolidated balance sheet as at 31.12.2009
GRANT THORNTON FRĄCKOWIAK SPÓŁKA Z O.O., ul. ABPA ANTONIEGO BARANIAKA 88E, 61-131 Poznań	No. 238

Expert auditor Jan  Letkiewicz

No. 9530

Locations:

seat: ul. Mickiewicza 24, 62-500 Konin Phone:                   63 2497792, 2497793 Fax:                     63 2497794 E-mail:                  konimpex@konimpex.com.pl                          marketing@konimpex.com.pl Website:                 www.konimpex.pl

Real Estate	ul. Mickiewicza 24, 62-500 Konin
	Book value of buildings as at 31.12.2012	PLN	8 979 731,62
	Book value of lands as at 31.12.2012	PLN	519 593,56
	Verification of information on real estate ownership position through the Real Estate Register is not covered by the standard report.

Shares in other companies	FERMINTRADE Sp. z o.o. NIP PL 6652721473, ul. Kilińskiego 1, 62-500 Konin PLN 50 000,00 (100,00%)   KONIMPEX - INVEST Sp. z o.o., ul. Kilińskiego 1, 62-500 Konin PLN 21 182 000,00 (100,00%)   SINE Sp. z o.o., pl. Wolności 2, 62-500 Konin PLN 500 000,00 (100,00%)   KONIMPEX CHEMICALS Sp. z o.o. NIP PL 6652991824, ul. Mickiewicza 24, 62-500 Konin PLN 500 000,00 (100,00%)
	Data concerning shares in other companies are valid as at: 20.12.2013.

Connections:

Wiesław Wojciech Pluta Plutowski , personal ID no. (PESEL) 47092901297 -  Przedsiębiorstwo Produkcyjno Handlowe "KONIMPEX-PLUS" Sp. z o.o. NIP PL 6651007383, ul. Jana Kilińskiego 1, 62-500 Konin   · shareholder: PLN 600 000,00 (100,00%)   · member of supervisory board -  WYDAWNICTWO - PRZEGLĄD KONIŃSKI Sp. z o.o. NIP 6652366747, ul. Przemysłowa 9, 62-510 Konin   · shareholder: PLN 30 000,00 (40,00%) -  KONIMPEX-INVEST SA NIP 6652389889, ul. Mickiewicza 24, 62-500 Konin   · member of supervisory board -  KONIMPEX - INVEST Sp. z o.o., ul. Kilińskiego 1, 62-500 Konin   · member of supervisory board -  AVENTURA Sp. z o.o. NIP 6652773636, ul. Kilińskiego Jana 1, 62-500 Konin   · shareholder: PLN 22 500,00 (45,00%)   · member of supervisory board -  Fundacja na Rzecz Rozwoju Dzieci i Młodzieży "OTWARCIE", ul. Mickiewicza 24, 62-500 Konin   · member of supervisory board -  "FERMINTRADE SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ SPÓŁKA KOMANDYTOWA" NIP PL 1132788847, ul. Kilińskiego 1, 62-500 Konin   · Limited partners, Comandite sum: PLN 12 800,00 -  VILLA PARK KONIN sp. z o.o., ul. Kilińskiego 1, 62-500 Konin   · shareholder: PLN 376 550,00 (10,00%) -  OGRODY RÓŻANE sp. z o.o., ul. Mickiewicza 24, 62-500 Konin   · member of supervisory board -  BOSA NOVA sp. z o.o. NIP 6652927714, ul. Mickiewicza 24, 62-500 Konin   · member of supervisory board Monika Szymczukiewicz , personal ID no. (PESEL) 81031203862 -  SINE Sp. z o.o., pl. Wolności 2, 62-500 Konin   · member of supervisory board Anna Grażyna Pluta Plutowska , personal ID no. (PESEL) 54010209649 -  WYDAWNICTWO - PRZEGLĄD KONIŃSKI Sp. z o.o. NIP 6652366747, ul. Przemysłowa 9, 62-510 Konin   · shareholder: PLN 30 000,00 (40,00%) -  AVENTURA Sp. z o.o. NIP 6652773636, ul. Kilińskiego Jana 1, 62-500 Konin   · shareholder: PLN 27 500,00 (55,00%)   · member of supervisory board -  Przedsiębiorstwo Produkcyjno Handlowe "KONIMPEX-PLUS" Sp. z o.o. NIP PL 6651007383, ul. Jana Kilińskiego 1, 62-500 Konin   · member of supervisory board Marcin Jakub Kłosiński , personal ID no. (PESEL) 72070303336 -  KONIMPEX CHEMICALS Sp. z o.o. NIP PL 6652991824, ul. Mickiewicza 24, 62-500 Konin   · member of supervisory board -  SINE Sp. z o.o., pl. Wolności 2, 62-500 Konin   · member of supervisory board Krzysztof Płoszek , personal ID no. (PESEL) 71041105555 -  KONIMPEX - INVEST Sp. z o.o., ul. Kilińskiego 1, 62-500 Konin   · member of supervisory board -  KONIMPEX-INVEST SA NIP 6652389889, ul. Mickiewicza 24, 62-500 Konin   · member of supervisory board -  FERMINTRADE Sp. z o.o. NIP PL 6652721473, ul. Kilińskiego 1, 62-500 Konin   · proxy -  BOSA NOVA sp. z o.o. NIP 6652927714, ul. Mickiewicza 24, 62-500 Konin   · member of supervisory board -  OGRODY RÓŻANE sp. z o.o., ul. Mickiewicza 24, 62-500 Konin   · member of supervisory board -  KONIMPEX - INVEST PROJEKT „POD KASZTANAMI” Sp. z o.o. NIP 6652924265, ul. Mickiewicza 24, 62-500 Konin   · proxy

Data concerning connections are valid as at: 20.12.2013.

Certificates:

ISO 14001:2004 ISO 9001:2008

Banks

RAIFFEISEN BANK POLSKA SA O. w Poznaniu ul.Marcelińska 90  (17501019) ul. Marcelińska 90, 60-324 Poznań Acc.no. 71175010190000000003802035  Bank BPH SA Centrum Rozliczeniowe  (10600076) al. Pokoju 1, 31-548 Kraków Acc.no. 60106000760000321000041689  Powszechna Kasa Oszczędności Bank Polski SA ul. Puławska 15, 02-515 Warszawa  Bank Millennium SA ul. Żaryna 2A, 02-593 Warszawa  Bank Handlowy w Warszawie SA O. w Koninie  (10301175) pl. Zamkowy 1, 62-500 Konin Acc.no. 17103011750000000009950202  MBANK SA ul. Senatorska 18, 00-950 Warszawa

Payment Manner	In available sources, payment delays have not been noted
Credit capability	Business connections appear permissible

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.59
UK Pound	1	Rs.101.09
Euro	1	Rs.83.99

INFORMATION DETAILS

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%)

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.