MIRA INFORM REPORT

Report Date :

07.03.2014

IDENTIFICATION DETAILS

Name :	LIIKUMISE ENERGIA
Registered Office :	Katusepapi tn 6, Tallinn, Harju county, 11412
Country :	Estonia
Financials (as on) :	31.12.2012
Date of Incorporation :	09.02.2009
Com. Reg. No.:	11587818
Legal Form :	Limited Liability Company by Estonian Commercial Law
Line of Business :	Wholesale of waste and scrap, inc glass-tare
No. of Employees :	30

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)
Estonia	B1	B1

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

ESTONIA - ECONOMIC OVERVIEW

Estonia, a member of the European Union and the eurozone since 2004, has a modern market-based economy and one of the higher per capita income levels in Central Europe and the Baltic region. Estonia's successive governments have pursued a free market, pro-business economic agenda and have wavered little in their commitment to pro-market reforms. The current government has followed sound fiscal policies that have resulted in balanced budgets and low public debt. The economy benefits from strong electronics and telecommunications sectors and strong trade ties with Finland, Sweden, Russia, and Germany. Estonia's economy fell into recession in mid-2008, as a result of an investment and consumption slump following the bursting of the real estate market bubble and a decrease in export demand as result of economic slowdown in the rest of Europe, but the economy has recovered strongly in the last five years. Estonia adopted the euro on 1 January 2011.

Source : CIA

Identification

Full Name

:

LIIKUMISE ENERGIA

Name in English

:

LIIKUMISE ENERGIA

Name in national language

:

LIIKUMISE ENERGIA OÜ

Office Address

:

Katusepapi tn 201 room, Tallinn, Harju county, 11412, Estonia

Legal Address

:

Katusepapi tn 6, Tallinn, Harju county, 11412, Estonia

Contacts

:

-	Phone	:	+79219041493
-	Fax	:	(+372) 6228843
-	E-mail	:	n.dolbilin@russmet.com
-	E-mail	:	$zvt@russmet.com

SUMMARY

Legal Form : OU (Limited Liability Company by Estonian Commercial Law)

Incorporation : 2009

Staff : 30

Litigation events : none Remarks on payments : none

Sales :	4 990 990.00 EUR ( for 12 months, ended 31.12.2012 )
	760 851.00 EUR ( for 12 months, ended 31.12.2011 )

Incorporation

:

2009

Registration Data

Date of registration

:

09.02.2009

Registration number

:

11587818

Registr. authority

:

Registration department of the County Court (Estonia)

Harju Maakohtu Registriosakond

Legal Form

:

OU (Limited Liability Company by Estonian Commercial Law)

since 09.02.2009

Share Capital

:

40 000 EEK (registered)

since n/a

Shareholders

:

-	Mr Nikolay Dolbilin (Russian Federation)				100.00 %
		reg. number	:	24.02.1974
-	OÜ MAZEROS (Estonia)				share n/a
		reg. number	:	11095110
	( the data cancelled since 09.02.2009 )

Board / Executives

Executives

Board Member

:

Mr Maksim Hohlov (Estonia)
	pers. code: 37807302218

Board Member

:

Mr Nikolay Dolbilin (Russian Federation)
	pers. code: 24.02.1974

Authorised signature

:

Mr Maksim Hohlov

Mr Nikolay Dolbilin

Activities

:

-	5093	Scrap and waste materials
		(NACE 5157: Wholesale of waste and scrap)

Wholesale of waste and scrap, inc glass-tare

Staff employed

:

30

Export

- 04.03.2014

:

China Peoples Republic, Asia

Import

:

none

Facilities

Real estate

:

own:
-	Premises - Office
	size/amnt	:	64.00 m2 [E]
	address	:	Katusepapi tn 201 room, Tallinn, Harju county, Estonia

Branches

:

none

Subsidiaries and Participation

:

none

Bankers

:

-

Sampo

Clients

:

Terms: company provide deferred payment for a period of 14 days. Member of the management refused to provide details, grounding this information as commercial secret.

Suppliers

:

Member of the management refused to provide details, grounding this information as commercial secret.

Litigation

:

none

There are no warnings recorded by the State Register. There are no registered legal actions against company required.

Remarks on payment

:

none

Debts to Estonian government: By the Tax Authorities there are no tax debts registered on the subject. Other debts: No current on defaulted payments are reported by local debt collection companies. No current are reported on the company required.

Financial Elements

Period, months	12	12
Ended	31.12.2012	31.12.2011
Currency	EUR	EUR
===== BALANCE SHEET ====================
--- A S S E T S --------------------
NON-CURRENT ASSETS
- Intangible assets
- Fixed assets	16 391.00	17 281.00
- Investments in tangible assets	428 200.00	429 866.00
- Financial assets
- Other non-current assets
Non-current assets total	444 591.00	447 147.00
CURRENT ASSETS
- Stock	124 987.00
- Debtors	663 890.00	178 163.00
- Other receivables
- Short-term financial investments
- Cash	4 694.00	140 876.00
- Other current assets
Current assets total	793 571.00	319 039.00
Assets total	1 238 162.00	766 186.00
--- EQUITY AND LIABILITIES ---------
CAPITAL AND RESERVES
- Share capital	2 556.00	2 556.00
- Additional capital
- Other capital
- Reserve capital	256.00	256.00
- Retained earnings (Non-covered loss)	882 547.00	384 384.00
Capital and reserves total	885 359.00	387 196.00
Provisions
LONG-TERM LIABILITIES
- Loans and credits	336 952.00	378 984.00
- long-term amounts owed to banks
- Other long-term liabilities
Long-term liabilities total	336 952.00	378 984.00
SHORT-TERM LIABILITIES
- Loans and credits	3 790.00
- short-term amounts owed to banks
- Creditors	12 061.00	6.00
- trade debts	12 061.00
- accrued payroll
- tax liabilities
- other creditors
- advances received
- Dividends in arrears
- Accrued income, deferred charges
- Other short-term liabilities
Short-term liabilities total	15 851.00	6.00
Liabilities total	352 803.00	378 990.00
Equity and liabilities total	1 238 162.00	766 186.00
===== PROFIT AND LOSS ACCOUNT ==========
ORDINARY ACTIVITY INCOME AND CHARGES
Net sales	4 990 990.00	760 851.00
Cost of goods sold	4 461 216.00	455 410.00
Gross profit
Distribution costs
Administrative and management costs
Profit on sales
OPERATING INCOME AND CHARGES
Interest receivable
Interest payable
Income from participating interests
Other operating income	5 219.00	27 910.00
Other operating charges	28 750.00	31 363.00
Operating profit
INVESTMENT INCOME AND CHARGES
Investment income less charges	-8 080.00	-4 832.00
Profit before taxation	498 163.00	297 156.00
Income-tax and other similar payments
Profit (loss) from ordinary activity
Extraordinary income less charges
Net profit	498 163.00	297 156.00
- - - - - - - KEY RATIOS - - - - - - -
Return on sales, %	9.98	39.06
Profit before taxation / Net sales
Operating margin of profit, %
Operating profit / Net sales
Return on investment, %	56.27	76.75
Profit before taxation / Equity
Current assets turnover	6.29	2.38
Net sales / Current assets
Working capital	777 720.00	319 033.00
Current assets - Short-term liabilities
Leverage	0.72	0.51
Equity / Total assets
Current ratio	50.06	53 173.17
Current assets / Short-term liabilities
Quick ratio	42.18
(Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio	0.40	0.98
Total liabilities / Equity

FINAL COMMENTS

Information given in this report has been gathered from public sources. We called Mr Nikolay Dolbilin, he kindly answered our questions from the questionnaire. Financial statement was taken from official sources. Mr Nikolay Dolbilin informed us that financial statement for 2013 year has not been prepared yet.

APPENDIX A

Financial Statements

Period, months	12	12
Ended	31.12.2012	31.12.2011
Currency	EUR	EUR
BALANCE SHEET
A S S E T S
CURRENT ASSETS
1. CASH IN BANK AND IN HAND	4 694.00
2. SHORT-TERM FINANCIAL INVESTMENTS
3. RECEIVABLES AND PREPAYMENTS
3.1 Customer receivables	659 919.00
3.2. Prepaid and deferred taxes	197.00
3.3. Other short-term receivables	3 774.00
3.4. Prepaid services
3. RECEIVABLES AND PREPAYMENTS TOTAL	663 890.00
4. INVENTORIES
4.1 Raw materials
4.2 Work in progress
4.3 Finished goods
4.4 Goods for resale
4.5 Prepayments for inventories	124 987.00
4. INVENTORIES TOTAL	124 987.00
5. BIOLOGICAL ASSETS
6. NON-CURRENT ASSETS HELD FOR SALE
TOTAL CURRENT ASSETS	793 571.00
NON-CURRENT ASSETS
7. LONG-TERM FINANCIAL INVESTMENTS
7.1 Shares in subsidiary companies
7.2 Shares in associates
7.3 Other shares and securities
7.4 Long-term accounts receivable
7. LONG-TERM FINANCIAL INVESTMENTS TOTAL
8. INVESTMENT PROPERTIES	428 200.00
9. TANGIBLE ASSETS
9.1. Land
9.2. Buildings
9.3. Machinery and equipment	16 391.00
9.4. Other tangible assets
9.5. Construction-in-progress and prepayments for
tangible assets
9. TANGIBLE ASSETS TOTAL	16 391.00
10. BIOLOGICAL ASSETS
11. INTANGIBLE ASSETS
11.1. Goodwill
11.2. Development costs
11.3. Other intangible assets
11.4. Prepayments for intangible assets
11. INTANGIBLE ASSETS TOTAL
NON-CURRENT ASSETS TOTAL	444 591.00
TOTAL ASSETS	1 238 162.00
SHORT-TERM LIABILITIES
12. LOAN LIABILITIES
12.1. Short-term loans and notes	3 790.00
12.2. Current portion of long-term debt
12.3. Convertible debts
12. LOAN LIABILITIES TOTAL	3 790.00
13. DEBTS AND PAYABLES
13.1. Supplier payables	12 061.00
13.2. Employee-related liabilities
13.3. Taxes payable
13.4. Other debts
13.5. Prepayments received
13. DEBTS AND PAYABLES TOTAL	12 061.00
14. SHORT-TERM PROVISIONS
15. TARGETED FINANCING
SHORT-TERM LIABILITIES TOTAL	15 851.00
LONG-TERM LIABILITIES
16. LONG-TERM LOAN LIABILITIES
16.1. Loans, notes and financial lease payables	336 952.00
16.2. Covertible debts
16. LONG-TERM LOAN LIABILITIES TOTAL	336 952.00
17. OTHER LONG-TERM DEBTS
18. LONG-TERM PROVISIONS
19. TARGETED FINANCING
LONG-TERM LIABILITIES TOTAL	336 952.00
LIABILITIES TOTAL	352 803.00
20. SHARE CAPITAL	2 556.00
20.a. OTHER CAPITAL
21. UNREGISTERED SHARE CAPITAL
22. SHARE PREMIUM
23. LESS TREASURY SHARES
24. Statutory legal reserve	256.00
25. Other reserves
26. RETAINED EARNINGS	384 384.00
27. NET PROFIT/ LOSS FOR FINANCIAL YEAR	498 163.00
EQUITY TOTAL	885 359.00
EQUITY AND LIABILITIES TOTAL	1 238 162.00
INCOME STATEMENT format 1 or 2
1. NET SALES format 1	4 990 990.00
2. Other income	5 219.00
3. Change in inventories of agricultural goods
4. Profit (loss) on biological inventories
5. Changes in inventories of finished goods and work in
progress
6. Work performed by the undertaking for its own purpose
and capital
7. Goods, raw materials and services	4 461 216.00
8. Other operating expenses	26 194.00
9. STAFF COSTS
9.a. Wages and salaries
9.b. Social security costs
9.c. Pension expenses
9. STAFF COSTS TOTAL
10. Depreciation and impairment of fixed assets	2 556.00
11. Other expenses
1. NET SALES format 2
2. Change in inventories of agricultural goods
3. Profit (loss) on biological inventories
4. Cost of sales
GROSS PROFIT (LOSS)
5. Marketing expenses
6. Administration and general expenses
7. Other income
8. Other expenses
OPERATING PROFIT (LOSS)	506 243.00
12. FINANCIAL INCOME AND EXPENSES
12.a. Financial income and expenses from shares in subsidiaries
12.b. Financial income and expenses from shares in associates
12.c. Financial income and expenses from long-term
financial investments
12.d. Interest expense
12.e. Profit (loss) on translation of foreign currencies
12.f. Other financial income and expenses	-8 080.00
12. TOTAL FINANCIAL INCOME AND EXPENSES	-8 080.00
PROFIT(LOSS) ON ORDINARY ACTIVITIES	498 163.00
13. Income tax expense
NET PROFIT (LOSS) FOR FINANCIAL YEAR	498 163.00

- 31.12.2011

:

Fiscal period: 12 month(s), currency: EUR
BALANCE SHEET
A S S E T S
CURRENT ASSETS
1. CASH IN BANK AND IN HAND	140 876.00
2. SHORT-TERM FINANCIAL INVESTMENTS
3. RECEIVABLES AND PREPAYMENTS
3.1 Customer receivables	172 770.00
3.2. Prepaid and deferred taxes	5.00
3.3. Other short-term receivables	5 388.00
3.4. Prepaid services
3. RECEIVABLES AND PREPAYMENTS TOTAL	178 163.00
4. INVENTORIES
4.1 Raw materials
4.2 Work in progress
4.3 Finished goods
4.4 Goods for resale
4.5 Prepayments for inventories
4. INVENTORIES TOTAL
5. BIOLOGICAL ASSETS
6. NON-CURRENT ASSETS HELD FOR SALE
TOTAL CURRENT ASSETS	319 039.00
NON-CURRENT ASSETS
7. LONG-TERM FINANCIAL INVESTMENTS
7.1 Shares in subsidiary companies
7.2 Shares in associates
7.3 Other shares and securities
7.4 Long-term accounts receivable
7. LONG-TERM FINANCIAL INVESTMENTS TOTAL
8. INVESTMENT PROPERTIES	429 866.00
9. TANGIBLE ASSETS
9.1. Land
9.2. Buildings
9.3. Machinery and equipment	17 281.00
9.4. Other tangible assets
9.5. Construction-in-progress and prepayments for
tangible assets
9. TANGIBLE ASSETS TOTAL	17 281.00
10. BIOLOGICAL ASSETS
11. INTANGIBLE ASSETS
11.1. Goodwill
11.2. Development costs
11.3. Other intangible assets
11.4. Prepayments for intangible assets
11. INTANGIBLE ASSETS TOTAL
NON-CURRENT ASSETS TOTAL	447 147.00
TOTAL ASSETS	766 186.00
SHORT-TERM LIABILITIES
12. LOAN LIABILITIES
12.1. Short-term loans and notes
12.2. Current portion of long-term debt
12.3. Convertible debts
12. LOAN LIABILITIES TOTAL
13. DEBTS AND PAYABLES
13.1. Supplier payables
13.2. Employee-related liabilities
13.3. Taxes payable
13.4. Other debts
13.5. Prepayments received
13. DEBTS AND PAYABLES TOTAL	6.00
14. SHORT-TERM PROVISIONS
15. TARGETED FINANCING
SHORT-TERM LIABILITIES TOTAL	6.00
LONG-TERM LIABILITIES
16. LONG-TERM LOAN LIABILITIES
16.1. Loans, notes and financial lease payables	378 984.00
16.2. Covertible debts
16. LONG-TERM LOAN LIABILITIES TOTAL	378 984.00
17. OTHER LONG-TERM DEBTS
18. LONG-TERM PROVISIONS
19. TARGETED FINANCING
LONG-TERM LIABILITIES TOTAL	378 984.00
LIABILITIES TOTAL	378 990.00
20. SHARE CAPITAL	2 556.00
20.a. OTHER CAPITAL
21. UNREGISTERED SHARE CAPITAL
22. SHARE PREMIUM
23. LESS TREASURY SHARES
24. Statutory legal reserve	256.00
25. Other reserves
26. RETAINED EARNINGS	87 228.00
27. NET PROFIT/ LOSS FOR FINANCIAL YEAR	297 156.00
EQUITY TOTAL	387 196.00
EQUITY AND LIABILITIES TOTAL	766 186.00
INCOME STATEMENT format 1 or 2
1. NET SALES format 1	760 851.00
2. Other income	27 910.00
3. Change in inventories of agricultural goods
4. Profit (loss) on biological inventories
5. Changes in inventories of finished goods and work in
progress
6. Work performed by the undertaking for its own purpose
and capital
7. Goods, raw materials and services	455 410.00
8. Other operating expenses	29 178.00
9. STAFF COSTS
9.a. Wages and salaries
9.b. Social security costs
9.c. Pension expenses
9. STAFF COSTS TOTAL
10. Depreciation and impairment of fixed assets	2 185.00
11. Other expenses
1. NET SALES format 2
2. Change in inventories of agricultural goods
3. Profit (loss) on biological inventories
4. Cost of sales
GROSS PROFIT (LOSS)
5. Marketing expenses
6. Administration and general expenses
7. Other income
8. Other expenses
OPERATING PROFIT (LOSS)	301 988.00
12. FINANCIAL INCOME AND EXPENSES
12.a. Financial income and expenses from shares in subsidiaries
12.b. Financial income and expenses from shares in associates
12.c. Financial income and expenses from long-term
financial investments
12.d. Interest expense
12.e. Profit (loss) on converting of foreign currencies
12.f. Other financial income and expenses	-4 832.00
12. TOTAL FINANCIAL INCOME AND EXPENSES	-4 832.00
PROFIT(LOSS) ON ORDINARY ACTIVITIES	297 156.00
13. Income tax expense
NET PROFIT (LOSS) FOR FINANCIAL YEAR	297 156.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.32
UK Pound	1	Rs.102.54
Euro	1	Rs.84.19

INFORMATION DETAILS

Report Prepared by :

NNA

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.