MIRA INFORM REPORT

Report No. :	352538
Report Date :	05.12.2015

IDENTIFICATION DETAILS

Name :	PLASTIC SP. Z.O.O
Registered Office :	Frydrychowo 55, 87-410 Kowalewo Pomorskie
Country :	Poland
Financials (as on) :	31.12.2014
Date of Incorporation :	09.06.2003
Legal Form :	Limited Liability Company
Line of Business :	· Processing of Plastic Products, Laminating Services · Manufacture of Other Plastic Products
No. of Employees :	1015 [2013]

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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Poland	A2	A2

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

POLAND - ECONOMIC OVERVIEW

Poland has pursued a policy of economic liberalization since 1990 and Poland's economy was the only one in the EU to avoid a recession through the 2008-09 economic downturn. Although EU membership and access to EU structural funds have provided a major boost to the economy since 2004, GDP per capita remains significantly below the EU average. The unemployment rate is now below the EU average. The government of Prime Minister Donald TUSK steered the Polish economy through the economic downturn by skillfully managing public finances and adopting controversial pension and tax reforms to further shore up public finances. While the Polish economy has performed well over the past five years, growth slowed in 2013 and picked back up in 2014. Short-term, the key policy challenge will be to consolidate debt and spending without stifling economic growth. Over the longer term, Poland's economic performance could improve if the country addresses some of the remaining deficiencies in its road and rail infrastructure, business environment, rigid labor code, commercial court system, government red tape, and burdensome tax system, especially for entrepreneurs. Poland’s long-term challenges include diversifying Poland’s energy mix and sources of supply, as well as stemming the outflow of educated young Poles to other EU Member States, especially in light of a coming demographic contraction as the Solidarity-era baby boom generation ages.

Source : CIA

Company name & address

PLASTICA SP. Z O.O.

Frydrychowo 55

87-410 Kowalewo Pomorskie

Phone:    56 6843000

Fax:      56 6843010

E-mail:   plastica@tzmo.com.pl

Website:  www.plastica.com.pl

Company summary

Legal form	Limited liability company	(5)
Stat.no.	871675580
Tax ID	PL 8781728490

Establishment	09.06.2003	(5)
Changes of names and addresses	pl. Wolności 1, 87-410 Kowalewo Pomorskie
	14.07.2004  Frydrychowo 55, 87-410 Kowalewo Pomorskie

Registration:

16.09.2003, District Court Toruń, VII Department, KRS 173291

Shareholders	Toruńskie Zakłady Materiałów Opatrunkowych SA, ul. Żółkiewskiego 20/26, 87-100 Toruń	PLN	150 000 000,00 100,00%
	list entered to NCR /KRS/ on  14.08.2009

Initial Capital		PLN 150 000 000,00
	Initial capital divided into 300000 shares of PLN 500,00 each
	Changes of initial capital
	- since 14.08.2009  until 16.11.2009  the capital estimated	PLN 125 500 000,00
	- since 27.05.2009  until 14.08.2009  the capital estimated	PLN 100 000 000,00
	- since 27.11.2008  until 27.05.2009  the capital estimated	PLN 68 250 000,00
	- since 09.09.2008  until 27.11.2008  the capital estimated	PLN 48 250 000,00
	- since 04.08.2008  until 09.09.2008  the capital estimated	PLN 29 050 000,00
	- since 14.07.2004  until 04.08.2008  the capital estimated	PLN 25 050 000,00
	- since 16.09.2003  until 14.07.2004  the capital estimated	PLN 50 000,00

Management	Jarosław Wojciech Józefowicz , personal ID no. (PESEL) 50041703550, ul. Puszczyńskich 3D/111, 87-100 Toruń  - president
	Proxies: Roman Grzymowicz , personal ID no. (PESEL) 51092505078  - independent proxy
	Representation: To submit statements of will on behalf of the company: If one man board – President solely If numerous managers – President solely, two members of the board of directors jointly or member of the board of directors with proxy jointly

Main activity	Processing of plastic products; Laminating services
	Branches NACE 2007:
	Manufacture of other plastic products	(C.22.29.Z)

Employment

2007:              65        employees 2008:              135       employees 2011:              571       employees 2012:              760       employees 2013:              1015      employees

Turnover	2010	PLN	253 038 290,44
	2011	PLN	345 504 249,54
	2012	PLN	443 924 131,06
	2013	PLN	544 936 320,91
	2014	PLN	636 505 932,45

Financial statements

Source of financial data	Court	Court	Court	Monitor Polski B
	annual	annual	annual	annual
Personal balance sheet as at	31.12.2014 (PLN)	31.12.2013 (PLN)	31.12.2012 (PLN)	31.12.2011 (PLN)
-A. Fixed assets......................	315 427 359,16	296 219 504,63	225 489 823,76	217 261 436,63
-  I.   Intangible assets.............	751 956,30	1 229 312,25	454 427,81	46 269,82
-    1. Costs of finished development works.....................	736 169,92	1 177 792,52	385 000,00
-    3. Other intangible assets.......	15 786,38	51 519,73	69 427,81	46 269,82
-  II.  Tangible assets...............	314 492 592,16	294 890 693,68	224 963 491,44	217 188 824,94
-    1. Fixed goods...................	290 968 263,31	287 620 546,71	204 555 855,16	211 728 399,09
-      a) land........................	2 231 226,36	2 231 226,36	2 231 228,36	2 231 226,36
-      b) buildings, premises, facilities............................	122 897 059,60	125 449 549,82	80 439 906,76	82 633 983,92
-      c) machinery and equipment.....	160 035 159,25	154 601 229,24	117 924 598,93	122 411 745,82
-      d) fleet of motor vehicles.....	2 297 121,83	1 470 289,58	1 234 008,65	1 266 477,88
-      e) other fixed goods...........	3 507 696,27	3 868 251,71	2 726 112,46	3 184 965,11
-    2. Fixed goods under construction..........................	15 722 741,50	5 444 988,73	10 228 845,82	5 460 425,85
-    3. Prepayments for fixed goods under construction....................	7 801 587,35	1 825 158,24	10 178 790,46
-  IV.  Long term investments.........	5 833,70	5 833,70
-    3. Long term financial assets....	5 833,70	5 833,70
-      a) in affiliated companies.....	5 833,70	5 833,70
-        - participations or shares...	5 833,70	5 833,70
-V. Long-term prepayments and accrued income........................	176 977,00	93 665,00	71 904,51	26 341,87
-  1. Deferred tax assets.............	176 977,00	93 665,00	71 773,00	25 471,00
-  2. Other prepayments...............			131,51	870,87
-B. Current assets....................	156 387 640,22	119 450 684,30	110 885 435,88	100 036 003,22
-  I.   Stock.........................	72 977 041,32	63 106 534,98	47 159 950,57	43 391 591,57
-    1. Raw materials.................	46 301 088,96	37 015 355,30	24 287 471,98	21 947 841,84
-    2. Semi-finished products and work-in-progress......................	8 560 860,97	10 261 833,45	10 935 366,88	8 366 554,80
-    3. Finished products.............	18 039 367,70	15 789 774,98	11 937 111,71	13 077 194,93
-    5. Advance payments .............	75 723,69	39 571,25
-  II. Short-term receivables.........	78 340 187,82	52 788 063,79	59 953 724,83	54 491 980,71
-    1. Receivables from affiliated companies.............................	74 222 388,90	48 348 636,72	54 805 441,40	52 184 197,33
-      a) Due to deliveries and services with payment period:.........	74 222 388,90	48 348 636,72	54 805 441,40	52 184 197,33
-        - up to 12 months............	74 222 388,90	48 348 636,72	54 805 441,40	52 184 197,33
-    2. Other receivables ............	4 117 798,92	4 439 427,07	5 148 283,43	2 307 783,38
-      a) Due to deliveries and services with payment period:.........	2 381 460,11	1 975 848,30	2 568 165,40	1 423 857,76
-        - up to 12 months............	2 381 460,11	1 975 848,30	2 568 165,40	1 423 857,76
-      b) Due to taxes, subsidies, insurances, duties, etc...............	1 650 831,13	2 397 516,42	2 504 243,60	798 994,11
-      c) Other.......................	85 507,68	66 062,35	75 874,43	84 931,51
-  III. Short term investments........	2 855 111,04	1 665 622,53	1 462 058,47	339 139,78
-    1. Short-term financial assets...	2 855 111,04	1 665 622,53	1 462 058,47	339 139,78
-      c) cash and other liquid assets................................	2 855 111,04	1 665 622,53	1 462 058,47	339 139,78
-        - cash in hand and on bank account...............................	2 855 111,04	1 665 622,53	1 462 058,47	339 139,78
-IV. Short-term prepayments and accrued income........................	2 215 300,04	1 890 463,00	2 309 702,01	1 813 291,16
-D. Total assets......................	471 814 999,38	415 670 188,93	336 375 259,64	317 297 439,85
-A. Shareholders' equity..............	343 078 626,86	310 764 358,16	252 515 085,06	203 702 830,75
-  I.   Basic share capital...........	150 000 000,00	150 000 000,00	150 000 000,00	150 000 000,00
-  IV.  Statutory reserve capital.....	115 764 358,16	92 515 085,06	53 702 830,75	33 039 004,84
-  VIII. Net profit (loss)............	-876 955,49	68 249 273,10	48 812 254,31	20 663 825,91
-  IX.  Deductions from profit during the accounting year (-.........	78 191 224,19
-B. Liabilities and reserves for liabilities...........................	128 736 372,52	104 905 830,77	83 860 174,58	113 594 609,10
-  I.   Reserves for liabilities......	1 246 921,09	323 661,00	628 969,00	1 173 386,00
-    1. Deferred income tax reserves..	139 592,00	323 661,00	628 969,00	1 173 386,00
-    2. Reserves for pensions and similar social payments...............	1 107 329,09
-      - long-term....................	71 633,99
-      - short-term...................	1 035 695,10
-II.  Long-term liabilities...........	13 509 307,47
-  2. Other liabilities...............	13 509 307,47
-    c) Other financial liabilities...	13 509 307,47
-III. Short-term liabilities..........	113 961 511,07	104 582 169,77	83 231 205,58	112 325 195,94
-  1. Due to affiliated companies.....	31 724 353,19	46 555 951,89	41 876 999,08	49 366 951,24
-    a) Due to deliveries and services with payment period:.........	31 281 201,08	39 449 011,65	27 334 374,36	38 222 186,99
-      - up to 12 months..............	31 281 201,08	39 449 011,65	27 334 374,36	38 222 186,99
-    b) Other.........................	443 152,11	7 106 940,24	14 542 624,72	11 144 764,25
-  2. Other liabilities...............	82 119 437,73	57 799 614,95	41 120 519,15	62 750 789,73
-    a) Loans.........................				20 993 816,00
-    c) Other financial liabilities...	6 040 545,32
-    d)Due to deliveries and services with payment period:.........	64 575 399,61	48 611 562,07	35 080 915,49	31 260 706,19
-      - up to 12 months..............	64 575 399,61	48 611 562,07	35 080 915,49	31 260 706,19
-    g) Due to taxes, subsidies, insurances, duties, etc...............	4 753 086,67	3 452 933,31	1 993 363,31	2 230 439,89
-    h) Due to salaries...............	2 894 346,93	2 088 387,86	1 244 766,93	980 319,39
-    i) Other.........................	3 856 059,20	3 646 731,71	2 801 473,42	7 285 508,26
-  3. Special funds...................	117 720,15	226 602,93	233 687,35	207 454,97
-IV.  Accruals and deferred income....	18 632,89			96 027,16
-  2. Other accruals..................	18 632,89			96 027,16
-    - long-term......................				93 577,24
-    - short-term.....................	18 632,89			2 449,92
-D. Total liabilities.................	471 814 999,38	415 670 188,93	336 375 259,64	317 297 439,85
Source of financial data	Court	Court	Court	Monitor Polski B
	annual	annual	annual	annual
individual PROFIT AND LOSS ACCOUNT	01.01.2014- 31.12.2014 (PLN)	01.01.2013- 31.12.2013 (PLN)	01.01.2012- 31.12.2012 (PLN)	01.01.2011- 31.12.2011 (PLN)
-A. Income from sales and similar.....	636 505 932,45	544 936 320,91	443 924 131,06	345 504 249,54
-  - including related companies......	906 267 766,37	519 893 600,10	420 829 268,41	327 039 498,89
-  I.   Net revenue form sale of products..............................	620 037 435,97	539 391 431,94	439 996 469,73	342 130 860,30
-  II.  Net revenue from sale of goods.................................	16 468 496,45	5 544 888,97	3 927 661,33	3 373 389,24
-B.Cost of products, goods sold.......	513 652 291,60	440 450 386,63	362 424 550,03	294 496 694,52
-  - including related companies......	501 018 614,01	428 796 321,38	353 005 146,60	287 160 308,75
-  I.  Cost of production of products sold.........................	497 910 637,30	435 344 254,57	358 664 812,01	291 287 886,87
-  II.  Value of products sold........	15 741 654,30	5 106 132,06	3 759 738,02	3 208 807,65
-C. Gross profit on sale..............	122 853 640,85	104 485 934,28	81 499 581,03	51 007 555,02
-D. Costs of sale.....................	3 590 833,55	3 647 272,21	3 342 921,30	2 801 788,98
-E. General management costs..........	33 685 165,41	27 826 108,68	25 278 574,56	22 993 689,34
-F. Profit on sale....................	85 577 641,86	73 012 553,39	52 878 085,17	25 212 076,70
-G. Other operating incomes...........	1 192 647,52	1 300 736,26	584 119,45	208 661,37
-  I.   Incomes from disposal of fixed assets..........................	13 688,39
-  II.  Subsidies.....................		70 000,00	96 027,16	1 918,68
-  III. Other operating incomes.......	1 178 959,13	1 230 736,26	488 092,29	206 742,69
-H. Other operating costs.............	2 616 975,00	3 108 226,19	3 312 929,63	801 845,59
-  I.   Loss on dsiposal of non--financial fixed assets...........		114 060,16	53 352,51	17 977,50
-  II.  Goodwill revaluation..........	594 048,97	590 170,00	1 965 437,00	3 492,34
-  III. Other operating costs.........	2 022 926,03	2 403 996,03	1 294 140,12	780 375,75
-I. Profit on operating activities....	84 153 314,38	71 205 063,46	50 149 274,99	24 618 892,48
-J. Financial incomes.................	36 613,60	38 543,70	745 870,42	18 526,34
-  II.  Interest received.............	36 613,60	38 543,70	67 161,79	18 526,34
-  V.   Other.........................			678 708,63
-K. Financial costs...................	3 170 184,79	856 694,06	712 565,10	2 290 571,91
-  I.   Interest......................	234 294,97	275 330,62	697 870,54	606 266,42
-    - including related companies....		263 959,44
-  IV.  Other.........................	2 935 889,82	581 363,44	14 694,56	1 684 305,49
-L. Gross profit on economic activity.	81 019 743,19	70 386 913,10	50 182 580,31	22 346 846,91
-N. Gross profit......................	81 019 743,19	70 386 913,10	50 182 580,31	22 346 846,91
-O. Corporation tax...................	2 828 519,00	2 137 640,00	1 370 326,00	1 683 021,00
-R. Net profit........................	78 191 224,19	68 249 273,10	48 812 254,31	20 663 825,91

AUDITOR

Balance sheet as at 31.12.2012
Audytor Sp. z o.o., ul. Małachowskiego 22A/4, 87-100 Toruń	No. 3513

Balance sheet as at 31.12.2011
Audytor Sp. z o.o., ul. Małachowskiego 22A/4, 87-100 Toruń	No. 3513

Expert auditor dr Jolanta Wiśniewska

No. 9567

Ratios	01.01.2014- 31.12.2014	01.01.2013- 31.12.2013	01.01.2012- 31.12.2012	01.01.2011- 31.12.2011
Current ratio	1,37	1,14	1,33	0,89
Quick ratio	0,71	0,52	0,74	0,49
Immediate ratio	0,03	0,02	0,02
Return on sale	12,28	12,52	11,00	5,98
Return on assets	16,57	16,42	14,51	6,51
Return on equity	22,79	21,96	19,33	10,14
Average trade debtors' days	44,92	35,36	49,43	57,57
Average stock turnover's days	41,85	42,27	38,88	45,84
average payables payment period	65,35	70,05	68,62	118,66
Total indebtedness ratio	27,29	25,24	24,93	35,80

While rating the company, it is advisable to take into consideration information about the branch, the company is acting in
(C.22.29.Z - NACE 2007), as at :	31.03.2015	31.12.2014	31.12.2013	31.12.2012	31.12.2011
Current ratio............................	1,68	1,63	1,52	1,51	1,44
Quick ratio..............................	1,16	1,13	1,08	1,05	1,01
Immediate ratio..........................	0,35	0,34	0,33	0,30	0,29
Return on sale...........................	9,14	7,43	6,58	6,11	6,00
Return on assets.........................	2,60	8,40	7,64	6,83	6,79
Return on equity.........................	4,64	15,59	14,91	13,53	13,65
Average trade debtors' days..............	69,93	69,24	76,49	77,85	79,78
Average stock turnover's days............	44,77	45,50	44,03	46,69	46,07
average payables payment period..........	92,13	95,60	104,94	106,81	112,56
Total indebtedness ratio.................	44,05	46,13	48,77	49,49	50,25
Percent share in the examinated group of companies with net profit.............	83,30	87,00	84,00	83,60	84,20
Sales/revenue per employee in th. PLN....	95,34	370,43	330,39	309,41	285,23
Average sales/revenue per company in th. PLN..................................	16 280,99	63 132,26	52 859,66	49 144,46	44 623,99
according to the Central Statistical Office

Locations:

seat: Frydrychowo 55, 87-410 Kowalewo Pomorskie Phone:                   56 6843000 Fax:                     56 6843010 E-mail:                  plastica@tzmo.com.pl Website:                 www.plastica.com.pl branch: Frydrychowo 55, 87-410 Kowalewo Pomorskie Phone:                   56 6843000 Fax:                     56 6843010 E-mail:                  plastica@tzmo.com.pl Website:                 www.plastica.com.pl

Real Estate	Book value of buildings as at 31.12.2014	PLN	122 897 059,60
	Book value of lands as at 31.12.2014	PLN	2 231 226,36
	Verification of information on real estate ownership position through the Real Estate Register is not covered by the standard report.

Means of transport

As at 31.12.2014  book value of car fleet was: PLN 2 297 121,83

Shares in other companies

As at 11.11.2015 there are no shares in other companies.

Connections:

Jarosław Wojciech Józefowicz , personal ID no. (PESEL) 50041703550 -  SERWIS MEDYCZNO-PROJEKTOWY SPÓŁKA Z O.O. NIP 8792148017, ul. Żółkiewskiego 20/26, 87-100 Toruń   · member of supervisory board -  TRICOMED SA NIP PL 9410033510, ul. Świętojańska 5/9, 93-493 Łódź   · member of supervisory board -  Citonet-Bydgoszcz SA NIP 5540308951, ul. Wyścigowa 7, 85-740 Bydgoszcz   · member of supervisory board -  CITONET - Szczecin Sp z o.o. NIP 8512969760, ul. Rolna 4, 71-730 Szczecin   · member of supervisory board -  SENI Sp. z o.o. NIP PL 9410033510, ul. Generała Władysława Sikorskiego 66, 87-300 Brodnica   · member of supervisory board -  „CITONET - POMORSKI” sp. z o.o. NIP 4990339595, Zabagno 18C, 83-115 Swarożyn   · member of supervisory board -  Toruńskie Zakłady Materiałów Opatrunkowych CISIEC Sp. z o.o. NIP PL 9410033510, Cisiec, ul. Wyszyńskiego 261, 34-350 Węgierska Górka   · member of supervisory board -  „CITONET-KRAKÓW” SA NIP PL 9410033510, ul. Gromadzka 52, 30-719 Kraków   · member of supervisory board -  TZMO MATOPAT Sp. z o.o. NIP PL 9410033510, ul. Żółkiewskiego 20/26, 87-100 Toruń   · member of supervisory board -  Szpitale TZMO S.A. NIP 8791984355, ul. Żółkiewskiego 20/26, 87-100 Toruń   · member of supervisory board -  „CITONET - ŚLĄSKI” sp. z o.o., ul. Wojkowicka 35, 41-250 Czeladź   · member of supervisory board -  A100 Przedsięwzięcia Informatyczne Sp. z o.o. NIP PL 9410033510, ul. Żółkiewskiego 20/26, 87-100 Toruń   · member of supervisory board -  OPTUS Sp. z o.o. NIP 8790169788, ul. Żółkiewskiego 20/26, 87-100 Toruń   · member of supervisory board -  INPLAST Sp. z o.o. NIP PL 9410033510, ul. Zachodnia 25, 97-425 Zelów   · member of supervisory board -  Fabryka Kosmetyków POLLENA-EWA SA NIP PL 9410033510, ul. Zachodnia 25, 97-425 Zelów   · chairman -  „CITONET-WARSZAWA” sp. z o.o., ul. Żółkiewskiego 20/26, 87-100 Toruń   · member of supervisory board -  „CITONET-ŁÓDŹ” sp. z o.o., ul. Świętojańska 5/9, 93-493 Łódź   · member of supervisory board -  DELFIA SA NIP PL 9410033510, ul. Żółkiewskiego 20/26, 87-100 Toruń   · chairman -  DT DOLNY ŚLĄSK Sp. z o.o. NIP 6112428723   · member of supervisory board -  Toruńskie Zakłady Materiałów Opatrunkowych - TKALNIE ZELÓW - SA NIP PL 9410033510, ul. Zachodnia 25, 97-425 Zelów   · member of supervisory board -  BELLA-HANDEL Sp. z o.o. NIP 8792170896, ul. Żółkiewskiego 20/26, 87-100 Toruń   · member of supervisory board -  PRZĘDZALNIA PIESZYCE sp. z o.o. w likwidacji NIP PL 9410033510, ul. 9 Maja 7B, 58-250 Pieszyce (! the company was put into liquidation)   · member of supervisory board -  BELLA Sp. z o.o. NIP PL 9410033510, ul. Szosa Lubicka 157A, 87-100 Toruń   · member of supervisory board -  Toruńskie Zakłady Materiałów Opatrunkowych SA NIP PL 8790166790, ul. Żółkiewskiego 20/26, 87-100 Toruń   · president -  OPAKOWANIA MEDYCZNE Sp. z o.o. NIP PL 9410033510, ul. Żółkiewskiego 20/26, 87-100 Toruń   · member of supervisory board  Toruńskie Zakłady Materiałów Opatrunkowych SA -  Kosmetyczne Wyroby Bawełniane Sp. z o.o. NIP PL 7691008099, ul. Zachodnia 25, 97-425 Zelów   · shareholder: PLN 100 000,00 (100,00%) -  DT DOLNY ŚLĄSK Sp. z o.o. NIP 6112428723   · shareholder: PLN 21 000,00 (21,00%) -  „CITONET-KRAKÓW” SA NIP PL 6792108034, ul. Gromadzka 52, 30-719 Kraków   · Shareholder: 100 % -  „CITONET - ŚLĄSKI” sp. z o.o., ul. Wojkowicka 35, 41-250 Czeladź   · shareholder: PLN 50 000,00 (100,00%) -  INPLAST Sp. z o.o. NIP PL 7691977757, ul. Zachodnia 25, 97-425 Zelów   · shareholder: PLN 500 000,00 (100,00%) -  SERWIS MEDYCZNO-PROJEKTOWY SPÓŁKA Z O.O. NIP 8792148017, ul. Żółkiewskiego 20/26, 87-100 Toruń   · shareholder: PLN 250 000,00 (100,00%) -  CITONET - Szczecin Sp z o.o. NIP 8512969760, ul. Rolna 4, 71-730 Szczecin   · shareholder: PLN 50 000,00 (100,00%) -  „CITONET - POMORSKI” sp. z o.o. NIP 4990339595, Zabagno 18C, 83-115 Swarożyn   · shareholder: PLN 4 212 450,00 (100,00%) -  Przedsiębiorstwo Handlowo-Usługowe ELMET Sp. z o.o. NIP 8792001509, ul. ŻÓŁKIEWISKIEGO 20/26, 87-100 Toruń   · shareholder: PLN 1 068 250,00 (95,98%) -  Szpitale TZMO S.A. NIP 8791984355, ul. Żółkiewskiego 20/26, 87-100 Toruń   · Shareholder -  BELLA Sp. z o.o. NIP PL 8791205440, ul. Szosa Lubicka 157A, 87-100 Toruń   · shareholder: PLN 200 000,00 (100,00%) -  Citonet-Bydgoszcz SA NIP 5540308951, ul. Wyścigowa 7, 85-740 Bydgoszcz   · Shareholder: 100 % -  TORUŃSKIE ZAKŁADY MATERIAŁÓW OPATRUNKOWYCH - DYSTRYBUCJA SZCZECIN SPÓŁKA Z O.O. NIP 8512072633, ul. Rapackiego 2, 71-467 Szczecin   · shareholder: PLN 60 000,00 (75,00%) -  SENI Sp. z o.o. NIP PL 8741430092, ul. Generała Władysława Sikorskiego 66, 87-300 Brodnica   · shareholder: PLN 18 408 600,00 (90,73%) -  „CITONET-WARSZAWA” sp. z o.o., ul. Żółkiewskiego 20/26, 87-100 Toruń   · shareholder: PLN 11 350 000,00 (100,00%) -  BELLA-HANDEL Sp. z o.o. NIP 8792170896, ul. Żółkiewskiego 20/26, 87-100 Toruń   · shareholder: PLN 38 000,00 (50,67%) -  OPTUS Sp. z o.o. NIP 8790169788, ul. Żółkiewskiego 20/26, 87-100 Toruń   · shareholder: PLN 25 500,00 (51,00%) -  FARMPOL Sp. z o.o. NIP PL 5861987631, ul. Nowatorów 8, 80-298 Gdańsk   · shareholder: PLN 77 000,00 (25,25%) -  Toruńskie Zakłady Materiałów Opatrunkowych CISIEC Sp. z o.o. NIP PL 5531712546, Cisiec, ul. Wyszyńskiego 261, 34-350 Węgierska Górka   · shareholder: PLN 100 000,00 (100,00%) -  Fabryka Kosmetyków POLLENA-EWA SA NIP PL 7270125554, ul. Zachodnia 25, 97-425 Zelów   · Shareholder: 100 % -  A100 Przedsięwzięcia Informatyczne Sp. z o.o. NIP PL 8792269956, ul. Żółkiewskiego 20/26, 87-100 Toruń   · shareholder: PLN 560 000,00 (93,33%) -  PRZĘDZALNIA PIESZYCE sp. z o.o. w likwidacji NIP PL 8821849901, ul. 9 Maja 7B, 58-250 Pieszyce (! the company was put into liquidation)   · shareholder: PLN 2 640 000,00 (100,00%) -  „CITONET-ŁÓDŹ” sp. z o.o., ul. Świętojańska 5/9, 93-493 Łódź   · shareholder: PLN 4 000 000,00 (100,00%) -  OPAKOWANIA MEDYCZNE Sp. z o.o. NIP PL 8791006404, ul. Żółkiewskiego 20/26, 87-100 Toruń   · shareholder: PLN 154 000,00 (100,00%) -  TZMO MATOPAT Sp. z o.o. NIP PL 8792536481, ul. Żółkiewskiego 20/26, 87-100 Toruń   · shareholder: PLN 6 500 000,00 (100,00%)

Data concerning connections are valid as at: 11.11.2015.

General information

Despite our hard efforts, we could not achieve more information from available sources. The subject refused to cooperate in elaboration of the report.

Banks

Powszechna Kasa Oszczędności Bank Polski SA ul. Puławska 15, 02-515 Warszawa

Payment Manner	No Complaints	(27)
	Due to the size of the subject company the higher amount of credit cannot be estimated.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.84
UK Pound	1	Rs.101.04
Euro	1	Rs.73.05
PLN	1	Rs.16.84

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	KAS
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%)

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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.