MIRA INFORM REPORT

Report Date :

31.10.2014

IDENTIFICATION DETAILS

Name :	OOO "SK TREYD"
Registered Office :	Leningradskoe Shosse Vladenie 5, 141408 Moskovskaya Oblast, G KHimki
Country :	Russia
Financials (as on) :	31.12.2013
Date of Incorporation :	27.05.2005
Com. Reg. No.:	1057747108154
Legal Form :	Limited Liability Companies (OOO)
Line of Business :	Agents involved in the sale of textiles
No. of Employees :	Not Available

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Russia	A2	B1

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

OOO "SK TREYD"

Leningradskoe Shosse Vladenie 5,
141408 Moskovskaya Oblast, G KHimki

Tel: 74957778999
E-Mail: info@snq.ru
Web: www.snowqueen.ru

Company Summary

Legal form	Limited liability companies (OOO)
Established on	27/05/2005 - Limited liability companies (OOO)

Registered on	27/05/2005, Mezhrayonnaya inspektsiya Federalnoy nalogovoy sluzhby №13 po Moskovskoy oblasti, RegNr.: 1057747108154 Tax number: 7701599226 Statistical number: 77333746
Registered capital		RUB	1 144 489 500,-

Owner	Kompaniya s ogranichennoy otvetstvennostyu SK INVESTMENT LIMITED BUMPULINAS 11, 1 etazh, 1060, 1087 NIKOSIYA, Cyprus	%	100
Sole Executive Body	Igor Alekseevich Levshin Managing director

General data	Main activity: Agents involved in the sale of textiles	(51.16)
	Commercial name: Snezhnaya Koroleva

Full name:
Obshchestvo s ogranichennoy otvetstvennostyu "SK Treyd"

Name in foreign language:
SQ Trade

Short name:
OOO "SK Treyd"

Residence address:
Leningradskoe shosse vladenie 5, 141408 Moskovskaya oblast, g KHimki 
Tel:
74957778999
74959559171
E-Mail:
info@snq.ru
Web:
www.snowqueen.ru
www.shop.snq.ru

Office address:
Kutuzovskiy prosp d 34, 121170 g Moskva 
Tel:
74954116905

According to information from official web site, OOO "SK TREYD" is large retailer of clothes (outerwear mostly) and accessories in Moscow, Sankt-Petersburg and big city of Russia operating under the brand name “Snezhnaya Koroleva” (Snow Queen) since 1998. The company sales through its retail chain, which includes 120 shops, and also through its online shop www.shop.snq.ru. OOO "SK TREYD" sells the products of the following brands: Antonio Didone, Tsoukas bros. & Sons, Fellicci, Acasta, Desigual, Le Monique, Pepe jeans London, ALF Sport,Tom Tailor, s.Oliver, Calvin Klein, Jorg Weber, Betty Barclay, Al Franco, Flaumfeder, Blend, Apart, Vespucci, Gallotti, Olivieri, Fornarina, Neohit, Silviah Heach, Vesuvia, Eleganzza, DALI, Galaday, Palio, Di Daneli, Zest, Tosca Blu, Barbara Milano and others.

Other activities

:
Manufacture of leather clothes	(18.10)

Manufacture of other outerwear	(18.22)
Manufacture of other wearing apparel and accessories n.e.c.	(18.24)

Dressing and dyeing of fur; manufacture of articles of fur	(18.30)
Wholesale of clothing and footwear	(51.42)

Wholesale of other household goods	(51.47)
Other wholesale trade	(51.70)

Retail sale of textiles	(52.41)
Retail sale of clothing	(52.42)

Retail sale of footwear and leather goods	(52.43.2)
Repair n.e.c.	(52.74)

Advertising	(74.40)
Labour recruitment and provision of personnel	(74.50)

	Washing and dry-cleaning of textile and fur products				(93.01)
Annual turnover	31/12/2006	Enterprise turnover	RUB	188 668 000,-

31/12/2007	Enterprise turnover	RUB	507 486 000,-
31/12/2008	Enterprise turnover	RUB	847 882 000,-

31/12/2009	Enterprise turnover	RUB	2 851 287 000,-
31/12/2010	Enterprise turnover	RUB	6 138 460 000,-

31/12/2011	Enterprise turnover	RUB	11 058 467 000,-
31/12/2012	Enterprise turnover	RUB	13 057 338 000,-

	31/12/2013	Enterprise turnover	RUB	11 874 854 000,-
Remarks	During the phone call the representative of OOO "SK TREYD" refused to inform whether the business premises are rented or owned by the company. Through the managing director, Igor Alekseevich Levshin (INN: 501302247401), the affiliation of the company was found with: OOO “INAKO”, INN 7719849100, g Moskva,-active legal entity. Igor Alekseevich Levshin is the owner of 25% of share capital of this company. 6 state inspections of OOO "SK TREYD" were planned within 2012-2014 with the following purposes: -supervision of compliance of Labor legislation of Russian Federation – February, 2013; - compliance of Federal Law № ЗCHS 68-FZ “On protection of population and territories from emergency situations of natural and technogenic character” – February, 2013; -supervision of compliance of mandatory requirements for fire safety in accordance with Federal Law № FZ-69 – – February, 2013, and June,2014;  -check of observance of the mandatory requirements of sanitary legislation and legislation on protection of consumers' rights - March, 2014; -federal state supervision in the field of consumer rights protection - November, 2014; OOO "SK TREYD" did not participate in court cases. According to information, disclosed by the Federal Tax Service, OOO "SK TREYD" does not have tax arrears, company is not going to be excluded from the state register as non-active. According to information, disclosed by the Pension Fund of Russian Federation, the company does not have delays in social payments. According to information, disclosed by the Federal Labor Service, the company does not plan to attract foreign employees. OOO "SK TREYD" is not in the list of default debtors, the Register of unfair suppliers, the blacklist of Russian companies. The management of company is not in the list of default debtors, the register of disqualified persons, the blacklist of Russian Private Persons.

Financial

A. 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).
B. The enclosed balance of 2013 is originated from official source, no data available about authentication. (31.12.2013 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).

balance	A 31.12.2012	B 31.12.2013	C
1. ASSETS
I. FIXED ASSETS
Intangible assets	20 655	24 793
The results of research and development	0	0
Intangible research assets	0	0
Tangible research assets	0	0
Fixed assets	244 378	227 799
Profitable investments in tangible assets	0	0
Financial investments	0	599 400
Deferred tax assets	24	106 438
Other non-current assets	188	1 814
TOTAL IN SECTION I.	265 245	960 245
II. CURRENT ASSETS
Inventories	6 304 493	6 763 229
VAT on acquired assets	248 674	72 599
Accounts receivable	879 132	1 175 354
Financial investments (excluding the monetary equivalent)	839 925	77 560
Cash and monetary equivalents	358 203	138 989
Other current assets	7 144	72 847
TOTAL IN SECTION II.	8 637 571	8 300 577
BALANCE	8 902 816	9 260 822
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital, deposits capital, partners capital)	1 144 490	1 144 490
Treasury stock	0	0
Revaluation of fixed assets	0	0
Additional capital (without revaluation)	0	0
Reserve capital	0	0
Retained earnings (uncovered loss)	1 571 293	1 559 240
TOTAL IN SECTION III.	2 715 783	2 703 730
IV. LONG-TERM LIABILITIES
Borrowed funds	1 806 686	1 462 925
Deferred tax liabilities	0	30 931
Provisions	0	0
Other liabilities	0	0
TOTAL IN SECTION IV.	1 806 686	1 493 855
V. SHORT-TERM LIABILITIES
Borrowed funds	2 330 732	3 448 866
Payables	2 035 190	1 595 180
Deferred income	14 425	19 191
Provisions	0	0
Sonstige Verbindlichkeiten	0	0
TOTAL IN SECTION V.	4 380 348	5 063 237
BALANCE	8 902 816	9 260 822
A. The enclosed profit and loss account of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB) B. The enclosed profit and loss account of 2013 is originated from official source, no data available about authentication. (31.12.2013 - 1000 RUB)

profit and loss account	A 31.12.2012	B 31.12.2013	C
Turnover	13 057 338	11 874 854
Cost of sales	7 171 965	6 775 021
Gross profit (loss)	5 885 373	5 099 833
Selling expenses	4 730 334	4 926 507
Administrative expenses	0	0
Sales profit (loss)	1 155 039	173 326
Earnings from other entities	0	0
Interest receivable	7 045	8 535
Interest payable	252 777	442 547
Other operating income	452 057	629 100
Other operating expenses	495 143	355 941
Profit (loss) before tax	866 221	12 473
Current profit tax	184 304	0
Permanent tax liabilities (assets)	-11 059	77 978
Change in deferred tax liabilities	0	30 931
Change in deferred tax assets	0	106 414
Different	0	9
Net profit (loss)	681 917	87 947
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	681 917	87 947
Ratios			2012	2013

Current ratio	n/a	1,64
Quick ratio	n/a	0,3

Average Collection Period	n/a	31,57
Payables turnover Period	n/a	97,79

Debt ratio	n/a	0,71
Equity to total assets ratio	n/a	0,29

Funding ratio	n/a	0,41
Return on sales	n/a	0,74

Return on Assets	n/a	0,97
Return on Equity	n/a	3,25

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.46
UK Pound	1	Rs.98.21
Euro	1	Rs.77.45

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	NIT

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.