MIRA INFORM REPORT

Report Date :

07.07.2014

IDENTIFICATION DETAILS

Name :	NS-GROUP INTERNATIONAL LTD OY

Registered Office :	Tekniikantie 12, 02150, ESPOO

Country :	Finland

Financials (as on) :	30.06.2011

Date of Incorporation :	05.03.1996

Com. Reg. No.:	16096975

Legal Form :	Limited company

Line of Business :	Agents involved in the sale of fuels, ores, metals and industrial chemicals

No. of Employees	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Finland

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

FINLAND ECONOMIC OVERVIEW

Finland has a highly industrialized, largely free-market economy with per capita output almost as high as that of Austria, Belgium, the Netherlands, or Sweden. Trade is important, with exports accounting for over one-third of GDP in recent years. Finland is historically competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in export of technology for mobile phones as well as promotion of startups in the ICT, gaming, cleantech, and biotechnology sectors. Except for timber and several minerals, Finland depends on imports of raw materials, energy, and some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland had been one of the best performing economies within the EU in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports, domestic trade, and household consumption stimulated economic growth in 2010-11, however, continued recession within the EU dampened the economy in 2012-13. The recession affected general government finances and the debt ratio, turning previously strong budget surpluses into deficits, but Finland took action to ensure it that it met the EU deficit targets in 2013 and retained its triple-A credit rating. Finland's main challenge will be to stimulate growth while faced with weak export demand in the EU and its own government austerity measures. Longer-term, Finland must address a rapidly aging population and decreasing productivity in traditional industries that threaten competitiveness, fiscal sustainability, and economic growth

Source : CIA

Company name and address

Trading Name	NS-GROUP INTERNATIONAL LTD OY	Trade Registry Number	669371
Company Name	NS-GROUP INTERNATIONAL LTD OY	Business ID	16096975
Telephone Number	0468701243	Registered Address	Tekniikantie 12, 02150, ESPOO
Fax Number	0468701244	Visiting Address	Tekniikantie 12, 02150, ESPOO
Home Municipality	Espoo	Postal Address	PL 2, 00101, HELSINKI
Incorporation Date	05.03.1996	Branches	1
Company Type	Limited company	Website Address
Primary Sic Code	46120	Accountant	Kotiranta Kare Ilari
Primary Sic Description	Agents involved in the sale of fuels, ores, metals and industrial chemicals	Last Accounts Date	30.06.2011

Share Capital (€)	2.523	Holding Company
Deals in importing	No	Foreign Ownership
Deals in exporting	No	Currency	EUR

Registrations in Force

	State	Registration Date
Tax Administration	Registered	26.07.2000
Trade Register	Registered	05.03.1996
Employer Register	Registered	01.07.2008
Prepayment Register	Registered	09.08.2000
Value Added Tax-Liability	VAT-liable for business activity	01.08.2000

DIRECTORS/MANAGEMENT

Current Directors

Name	Rogozin Kirill
Date of Birth	05.04.1975	Appointment Date	08.10.2007
Nationality	RUSSIAN FEDERATION	Function	Actual Member of Board

Name	Shteling Nikolay
Date of Birth	22.02.1959	Appointment Date	08.10.2007
Nationality	RUSSIAN FEDERATION	Function	Actual Member of Board

Name	Shteling Vladimir
Date of Birth	24.06.1954	Appointment Date	08.10.2007
Nationality	RUSSIAN FEDERATION	Function	Chairman of Board

Name	Kaznakov Anton
Date of Birth	12.04.1973	Appointment Date	05.08.2003
Nationality	FINLAND	Function	Managing director

NEGATIVE INFORMATION

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

Shareholder Information

Year	30.06.2011
Total Value of Shares	2.523
Number of Shares	100
Value of Shares	-

PAYMENT INFORMATION

N/a

GROUP STRUCTURE & AFFILIATED COMPANIES

Group structure

No group structure

Linked Companies

No linked companies

FINANCIAL INFORMATION

Key Financials (€)

Year	30.06.2011	%	30.06.2010
Number of weeks	52		52
Turnover	560.768	-91%	6.593.878
Operating Profit/Loss	66.238	22%	54.072
Profit/Loss after Financial Items	42.041	24%	33.982
Profit/Loss after tax	31.040	24%	25.099
Current Assets	275.606	-1%	277.036
Fixed Assets	0	-	0
Long Term Debts	0	-	0
Current Liabilities	47.335	-41%	79.804
Shareholders Equity	228.271	16%	197.232
Balance sheet total	275.606	-1%	277.036
Number of employees	-		-
Auditor qualification	Not audited		Not audited

Ratios

Year	30.06.2011	30.06.2010
Solvency Ratio	83%	71%
	Exceptionally Low Indebtedness	Exceptionally Low Indebtedness
Net margin (%)	8%	1%
Interest Coverage Ratio (times)	2	2
Gearing (%)	0%	17%
Liquidity Ratio/Acid Test	6	3
Risk Buffer (%)	-53%	-18%

Profit & Loss (€)

Operating Income	30.06.2011	%	30.06.2010
Number of weeks	52		52
Consolidated Accounts	no		no
Sales Revenue	560.768	-91%	6.593.878
Other Operating Income	416	-	0
Total Operating Income	561.184	-91%	6.593.878
Wages & Salaries	312.615	14%	274.459
Depreciation	0	-	0
Total Operating Expenses	494.946	-92%	6.539.806
Operating Profit/Loss	66.238	22%	54.072
Result From Financial Investments
Financial Income	14.574	9%	13.415
Financial Expenses	38.771	16%	33.505
Total Financial Investments	-24.197	-	-20.090
Profit/Loss after Financial Items	42.041	24%	33.982
Extraordinary Income	0	-	0
Extraordinary Expenses	0	-	0
Profit/Loss Before Tax	42.041	24%	33.981
Tax	11.001	24%	8.882
Profit/Loss After Tax	31.040	24%	25.099

Balance Sheet (€)

Assets	06.2011	%	06.2010
Number of weeks	52		52
Consolidated Accounts	no		no
Fixed Assets
Intangible Assets	0	-	0
Tangible Assets	0	-	0
Other Fixed Assets	0	-	0
Total Fixed Assets	0	-	0
Current Assets
Inventories	0	-	0
Trade Receivables	80.000	100%	40.000
Other Receivables	5.161	-82%	29.247
Cash & Bank Balances	190.445	-8%	207.789
Other Current Assets	0	-	0
Total Current Assets	275.606	-1%	277.036
Total Assets	275.606	-1%	277.036

Equity and Liabilities (€)

EQUITY
Share Capital	2.523	0%	2.523
Share Premium Reserve	0	-	0
Retained Earnings	225.748	16%	194.709
Other Reserves	0	-	0
Total Equity	228.271	16%	197.232
LONG TERM LIABILITIES
Long Term Liabilities to Financial Institutions	0	-	0
Other Long Term Liabilities Finance	0	-	0
Other Long Term Liabilities	0	-	0
Total Long Term Debts	0	-	0
CURRENT LIABILITIES
Trade Payables	2.529	38%	1.831
Liabilities to Financial Institutions	0	-	33.399
Other Short Term Financial Loans	0	-	0
Other Short Term Liabilities	44.806	1%	44.574
Total Current Liabilities	47.335	-41%	79.804
Total Liabilities	47.335	-41%	79.804
Total Equity & Liabilities	275.606	-1%	277.036

Other Financials (€)

	Working Capital	228.271	16%	197.232
	Net Worth	228.271	16%	197.232

Key Ratios

	30.06.2011	30.06.2010
Number of weeks	52	52
Consolidated Accounts	no	no
PROFITABILITY
Net Margin %	7,5%	0,5%
Operating Profit/Loss %	11,8%	0,8%
Pre-Tax Profit Margin %	7,5%	0,5%
TRADING PERFORMANCE
Return on Net Assets Employed %	18,4%	17,2%
Return on Total Capital %	29,3%	24,4%
Interest Coverage Ratio (times)	2	2
Return on Capital Employed %	18,4%	17,2%
Return on Total Assets Employed %	15,3%	12,3%
Interest on Debt %	81,9%	42,0%
Risk Buffer %	-52,6%	-17,6%
SHORT TERM LIQUIDITY
Liquidity Ratio/Acid Test	6	3
Current Ratio %	582,0%	347,0%
Debtor Days	52	2
Working capital	228.271	197.232
LONG TERM LIQUIDITY
Equity Ratio %	82,8%	71,2%
Gearing %	0,0%	16,9%
Current Debt Ratio	0	0
Total Debt Ratio	0	0
Relative debt %	8,4%	1,2%
BUSINESS MEASURES
Change in turnover %	-91,5%	-
Turnover/employees	-	-
Sales/Net Working Capital	2	33
Stock Turnover Ratio %	0,0%	0,0%
Creditor Days	2	0
Equity in Percentage %	82,8%	71,2%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

N/a

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.79
UK Pound	1	Rs.102.66
Euro	1	Rs.81.32

INFORMATION DETAILS

Analysis Done by :	SUM

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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