MIRA INFORM REPORT

Report Date :

25.07.2014

IDENTIFICATION DETAILS

Name :	LIMITED LIABILITY COMPANY "TEA MARKET"
Registered Office :	Ul Pererva d 52, str 1, 109369 g Moskva
Country :	Russia
Financials (as on) :	31.12.2012
Date of Incorporation :	29.09.2009
Com. Reg. No.:	1097746576575
Legal Form :	Limited Liability Companies
Line of Business :	Wholesale of Coffee
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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
Russia	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 & ADDRESS

OOO "Ti Market"

Ul Pererva d 52, str 1,

109369 g Moskva

Tel: 79217759872

Company summary

Company development

Constant company development.

Business course	Satisfactory order situation.
Terms of payment	Mostly within agreed terms, in individual cases dalays of payments / payment reminders.

Business connection

Business connection is not denied. Credit is not assigned, it requires securities.

Legal form	Limited liability companies (OOO)
Established on	29/09/2009 - Limited liability companies (OOO)

Registered on	29/09/2009, Mezhrayonnaya inspektsiya Federalnoy nalogovoy sluzhby № 46 po g. Moskve, RegNr.: 1097746576575 Tax number: 7723730724 Statistical number: 62852021
Registered capital		RUB	25 000,-

Owner	Eka Narayan CHapagayn	%	100
Sole Executive Body	Mana Murti Bkhurtial Managing director

General data	Main activity: Wholesale of coffee	(51.37)
	Full name: Obshchestvo s ogranichennoy otvetstvennostyu "Ti Market"

Name in foreign language:
Limited liability company "Tea Market"

Short name:
OOO "Ti Market"

Residence address:
ul Pererva d 52, str 1, 109369 g Moskva
Tel:
79217759872
79266151337

	Under the information from open sources, the main activity of OOO “Ti Market” is wholesale trade of tea and coffee.
Other activities

:
Processing of tea and coffee	(15.86)

Agents involved in the sale of a variety of goods	(51.19)
Other wholesale trade	(51.70)

	Other retail sale of food				(52.27.36)
Annual turnover	31/12/2010	Enterprise turnover	RUB	23 662 000,-

31/12/2011	Enterprise turnover	RUB	89 424 000,-
31/12/2012	Enterprise turnover	RUB	152 862 000,-

Remarks

According to the research, through the managing director of OOO “Ti Market”, Mana Murti Bkhurtial, the company is affiliated with following legal persons: OOO “TI SERVIS” – INN: 7704854883, Moscow. He is the managing director and 100% stock shareholder of the company. OOO “MAGNAT” – INN: 7709860136, Moscow. He was 45,45% stock shareholder of the company. The affiliation through the managing director with other legal subjects has not been revealed. OOO “Ti Market” participated in several court cases as claimant and collected the following amount of debt: In 2013: 1 217 804,85 RUB. According to the information, disclosed by the Federal Tax Service, OOO “Ti Market” 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 “Ti Market” does not have delays in social payments. According to the information, disclosed by the Federal Labor Service, OOO “Ti Market” does not plan to attract foreign employees. According to the research, OOO “Ti Market” 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 “Ti Market” 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 balance of 2011 is originated from official source, no data available about authentication. (31.12.2011 - 1000 RUB)
B. The enclosed balance of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB)

balance	A 31.12.2011	B 31.12.2012	C
1. ASSETS
Tangible non-current assets	0	0
Intangible, financial and other non-current assets	0	0
Resources	61 906	83 551
Cash and cash equivalents	1 120	4 998
Financial and other current assets	59 218	57 614
BALANCE	122 244	146 163
2. LIABILITIES
Capital and reserves	778	1 230
Long-term debt	0	0
Other long-term liabilities	0	0
Short-term borrowings	7 320	11 098
Payables	114 146	133 835
Other short-term liabilities	0	0
BALANCE	122 244	146 163
A. The enclosed profit and loss account of 2011 is originated from official source, no data available about authentication. (31.12.2011 - 1000 RUB) B. The enclosed profit and loss account of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB)

profit and loss account	A 31.12.2011	B 31.12.2012	C
Turnover	89 424	152 862
Expenditure on ordinary activities	85 832	145 571
Outstanding interest	281	3 095
Other income	2 491	6 812
Other expenses	4 796	10 372
Taxes on income (profit)	230	184
Net income (loss)	776	452

Ratios

	2011	2012
Quick ratio	0,43	n/a

Current ratio	0,56	1,01
Average Collection Period	122	n/a

Payables turnover Period	429	n/a
Debt ratio	0,99	0,99

Equity to total assets ratio	0,01	0,01
Funding ratio	0,01	0,01

Return on sales	0,87	0
Return on Assets	0,17	0,03

Return on Equity

156

0,73

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.00
UK Pound	1	Rs.102.19
Euro	1	Rs.80.67

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

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.