Company name & address

Company summary

Financial data

Company name & address

Company summary

Financial data

MIRA INFORM REPORT

MIRA INFORM REPORT

Unit

Report Date :

09.05.2014

IDENTIFICATION DETAILS

Name :	ZAO KOMPANIYA MAY

Registered Office :	per Ukhtomskiy d 4,111020 g Moskva

Country :	Russia

Financials (as on) :	31.12.2012

Date of Incorporation :	04.08.2006

Com. Reg. No.:	1067746975559

Legal Form :	Closed and Joint-Stock Companies (ZAO)

Line of Business :	· wholesale trader of tea bearing the brand name CURTIS, LISMA, MAYSKIY & RICHARD Wholesaler of coffee

No of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

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.

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

ZAO Kompaniya "May"
per Ukhtomskiy d 4,
111020 g Moskva
Tel:                   74957757505
Telefax:             74957755515
E-Mail:              nfo@theMay.com
Web:                www.themay.com

Company development

Constant company development.

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

Business connection

Business connection appears permissible.

Legal form	Closed and joint-stock companies (ZAO)
Established on		04/08/2006 - Closed and joint-stock companies (ZAO)

Registered on

04/08/2006, Mezhrayonnaya inspektsiya Federalnoy nalogovoy sluzhby № 46 po g. Moskve,

RegNr.: 1067746975559
Tax number: 7722584340
Statistical number: 75545438

Registered capital

RUB

10 010 000,-

Owner	OOO "TRANSPROD" per Ukhtomskiy d 4, 111020 g Moskva	%	99,9
	Grazhdanin Rossii	%	0,1

Employees	Liliya Vladimirovna Voron Director of accounting
Sole Executive Body	Igor Vasilevich Lisinenko Managing director

General data	Main activity: Wholesale of coffee
		Brand name: "RICHARD"

	"CURTIS"
	"Lisma"

	"Mayskiy"
	Full name: Zakrytoe aktsionernoe obshchestvo Kompaniya "May"

	Name in foreign language: JSC May Company
	Short name: ZAO Kompaniya "May"


	Residence address: per Ukhtomskiy d 4, 111020 g Moskva

Office address:
ul Dmitriya Ulyanova d 7A, 117036 g Moskva
Tel:
74957757505
Telefax:
74957755515
E-Mail:
nfo@theMay.com
Web:
www.themay.com

ZAO Kompaniya “May” is a part of “May” group of companies.

The main activity of ZAO Kompaniya “May” is wholesale trade of tea of the following brands: CURTIS, LISMA, MAYSKIY, RICHARD.

Other activities

	Printing n.e.c.	(22.22)
	Maintenance and repair of motor vehicles	(50.20)

	Agents involved in the sale of food	(51.17.1)
	Agents specializing in the sale of particular products or ranges of products n.e.c.	(51.18.2)

	Wholesale of sugar and chocolate and sugar confectionery	(51.36.2)
	Wholesale of other household goods	(51.47.37)

	Other retail sale of food	(52.27.36)
	Freight transport by road	(60.24)

	Activities of other transport agencies	(63.40)
	Buying and selling of own real estate	(70.12)

	Letting of own property	(70.20)
	Renting of other land transport equipment	(71.21.1)

	Maintenance and repair of office	(72.50)
	Market research and public opinion polling	(74.13.1)

	Business and management consultancy activities	(74.14)
	Architectural and engineering activities and related technical consultancy	(74.20.1)

	Advertising	(74.4)
	Packaging activities	(74.82)

	Other business activities not elsewhere classified	(74.84)
	Activities of business and employers organizations	(91.11)

Annual turnover	31/12/2006	Enterprise turnover	RUB	1 704 108 000,-
	31/12/2007	Enterprise turnover	RUB	2 760 521 000,-

	31/12/2008	Enterprise turnover	RUB	2 827 320 000,-
	31/12/2009	Enterprise turnover	RUB	1 393 099 000,-

	31/12/2010	Enterprise turnover	RUB	632 425 000,-
	31/12/2011	Enterprise turnover	RUB	625 104 000,-

A. The enclosed balance of 2011 is originated from official source, no data available about authentication. (31.12.2011 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).
B. The enclosed balance of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).

balance Sheet	A 31.12.2011	B 31.12.2012
1. ASSETS
I. FIXED ASSETS
Intangible assets	0	0
The results of research and development	0	0
Intangible research assets	0	0
Tangible research assets	0	0
Fixed assets	33	0
Profitable investments in tangible assets	0	0
Financial investments	7 395	0
Deferred tax assets	0	0
Other non-current assets	2 105	323
TOTAL IN SECTION I.	9 533	323
II. CURRENT ASSETS
Inventories	475 381	472 380
VAT on acquired assets	4 306	2 230
Accounts receivable	841 409	1 242 647
Financial investments (excluding the monetary equivalent)	81 700	33 080
Cash and monetary equivalents	98 263	36 194
Other current assets	9 365	466
TOTAL IN SECTION II.	1 510 424	1 786 997
BALANCE	1 519 957	1 787 320
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital, deposits capital, partners capital)	10 010	10 010
Treasury stock	0	0
Revaluation of fixed assets	0	0
Additional capital (without revaluation)	0	0
Reserve capital	0	0
Retained earnings (uncovered loss)	37 579	43 070
TOTAL IN SECTION III.	47 589	53 080
IV. LONG-TERM LIABILITIES
Borrowed funds	276 118	739 580
Deferred tax liabilities	0	0
Provisions	0	0
Other liabilities	0	0
TOTAL IN SECTION IV.	276 118	739 580
V. SHORT-TERM LIABILITIES
Borrowed funds	0	0
Payables	1 196 250	994 660
Deferred income	0	0
Provisions	0	0
Sonstige Verbindlichkeiten	0	0
TOTAL IN SECTION V.	1 196 250	994 660
BALANCE	1 519 957	1 787 320
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
Turnover	2 481 768	2 633 342
Cost of sales	2 358 883	2 451 359
Gross profit (loss)	122 885	181 983
Selling expenses	73 295	112 488
Administrative expenses	0	0
Sales profit (loss)	49 590	69 495
Earnings from other entities	0	0
Interest receivable	1 239	563
Interest payable	28 863	72 919
Other operating income	1 541 128	1 418 436
Other operating expenses	1 556 682	1 408 486
Profit (loss) before tax	6 412	7 089
Current profit tax	1 429	1 598
Permanent tax liabilities (assets)	0	0
Change in deferred tax liabilities	0	0
Change in deferred tax assets	0	0
Different	1 693	0
Net profit (loss)	3 290	5 491
Results of fixed assets revaluation, non-includedin net profit/loss for period	0	0
Result of other transactions, non included in net profit/loss for period	0	0
Total financial result for period	3 290	5 491

Ratios

2011

2012

Quick ratio	0,85	1,32
Current ratio	0,56	0,55

Average Collection Period	61,87	144
Payables turnover Period	92,55	163

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

Funding ratio	0,03	0,03
Return on sales	0,13	0,21

Return on Assets	2,24	4,44
Return on Equity	n/a	10,91

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.99
UK Pound	1	Rs.101.75
Euro	1	Rs.83.48

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	MNL

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.

Enterprise turnover

2 633 342 000,-

Remarks

It is important to note that the register of shareholders of ZAO Kompaniya “May” is held by a private non-state registrar - ZAO Kompaniya “May” itself. The information about shareholders is closed. List of shareholders provided in the report was formed according to the most recent information from the Federal Service of State Statistics.
According to the research, through managing director of ZAO Kompaniya “May”, Igor Vasilyevich Lisinenko, the company is affiliated with following legal persons:
OOO “Yunayted Eksport Kompani” – INN: 7728570707, Moscow. He is general director and 100% stock shareholder of the company.
OOO “Fud Eksport” – INN: 7728695840, Moscow. He is general director and 100% stock shareholder of the company.
OOO “TRANSPROD” – INN: 7722144029, Moscow. Igor Vasilyevich Lisinenko is general director and 100% stock shareholder of the company. The company is registered at the same address as the subject.
OOO KOMPANIYA “MAY” – INN: 5052013232, Moscow region, Fryazino. He is general director and 66,67% stock shareholder of the company.
OOO “MAY-FUDS” – INN: 7723138243, Moscow. He is general director of the company.
OOO “May Enerdji” – INN: 7728805525, Moscow. Igor Vasilyevich Lisinenko is general director of the company.
OOO “MAY-STOR” – INN: 7728852959, Moscow. He is general director of the company.
OOO “May-Tek+” – INN: 7728835304, Moscow. He is general director of the company.
OOO “MAY-RIELTI” – INN: 7727811526, Moscow. He is general director of the company.
ZAO Kompaniya “May” – INN: 5052009652, Moscow region, Fryazino. He is general director of the company.
OOO “MAY-TEK” – INN: 7723160859, Moscow. He is general director of the company.
ZAO “SOVA” – INN: 7728794440, Moscow. He is general director of the company.
According to the research, the affiliation through the director of ZAO Kompaniya “May”, Igor Vasilyevich Lisinenko, with other legal persons has not been revealed.
ZAO Kompaniya “May” has not participated in court cases.
According to the information, disclosed by the Federal Tax Service, ZAO Kompaniya “May” 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, ZAO Kompaniya “May” does not have delays in social payments.
According to the information, disclosed by the Federal Labor Service, the company does not plan to attract foreign employees.
According to the research, ZAO Kompaniya “May” 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.
ZAO Kompaniya “May” 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.