MIRA INFORM REPORT

Report No. :	348766
Report Date :	09.11.2015

IDENTIFICATION DETAILS

Name :	OOO "GLEN"

Registered Office :	Per Spiridonevskiy D 8, 123104 G Moskva

Country :	Russia

Financials (as on) :	31.12.2014

Date of Incorporation :	23.12.2010

Legal Form :	Limited liability companies (OOO)

Line of Business :	Retail sale of clothing.

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Russia

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. In 2014, economic growth declined further when Russia forcibly violated Ukraine’s sovereignty and territorial integrity, and interfered in Ukraine’s internal affairs. In the second half of 2014, the Russian ruble lost about half of its value, contributing to increased capital outflows that reached $151.5 billion for the year; the ruble remains volatile. Declining oil prices, lack of economic reforms, and the imposition of foreign sanctions have contributed to the downturn and created wide expectations the economy will continue to slump. In April 2015, the Russian Ministry of Economic Development predicted that the Russia’s economy will contract by 3% in 2015, and average only 2.5% growth through 2030.

Source : CIA

Company name and address

OOO "GLEN"

per Spiridonevskiy d 8,
123104 g Moskva

Tel: 79099868166

Company summary

Company development

Constant company development.

Business course	Satisfactory order situation.
Terms of payment	No complaints / delays of payments are known.

Business connection

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

Legal form	Limited liability companies (OOO)
Established on	23/12/2010 - Limited liability companies (OOO)

Registered on	23/12/2010, Mezhrayonnaya inspektsiya Federalnoy nalogovoy sluzhby № 46 po g. Moskve, RegNr.: 5107746050000 Tax number: 7703734706 Statistical number: 69652064
Registered capital		RUB	10 000,-

Owner	Svetlana Valerevna Korshikova	%	100
Sole Executive Body	Ruslan Vecheslavovich Panin Managing director

General data	Main activity: Retail sale of clothing
	Full name: Obshchestvo s ogranichennoy otvetstvennostyu "GLEN"

	Short name: OOO "GLEN"

Residence address:
per Spiridonevskiy d 8, 123104 g Moskva
Tel:
79099868166

Other activities

	:
	Publishing

	Site preparation
	Building of complete constructions or parts thereof; civil engineering

	Building installation
	Wholesale on a fee or contract basis

	Wholesale of household goods
	Other wholesale trade

	Other retail sale of new goods in specialized stores
	Retail sale of footwear and leather goods

	Hotels
	Restaurants

	Bars
	Cargo handling

	Storage and warehousing
	Activities of travel agencies and tour operators; tourist assistance activities n.e.c.

	Activities of other transport agencies
	Real estate activities on a fee or contract basis

	Other computer related activities
	Advertising

Annual turnover	31/12/2012	Enterprise turnover	RUB	587 528 000,-
	31/12/2013	Enterprise turnover	RUB	612 164 000,-

	31/12/2014	Enterprise turnover	RUB	648 730 000,-
Remarks	OOO “GLEN” does not provide any information about itself in open sources. According to the research, through the managing director of OOO “GLEN”, Ruslan Vecheslavovich Panin, the company is affiliated with following legal persons: OOO “TORGOVY ALYANS” – OGRN: 5067746257178, Moscow. Ruslan Vecheslavovich Panin is the director and owner of 100% of share capital of this company. ZAO “S-TREYD” – OGRN: 1037705039305, Moscow. Ruslan Vecheslavovich Panin is the owner of 100% of share capital of this company. Affiliation through the managing director with other legal subjects has not been revealed. OOO “GLEN” did not participate in court cases. According to the information, disclosed by the Federal Tax Service, OOO “GLEN” 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 “GLEN” does not have delays in social payments. According to the research, OOO “GLEN” 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 “GLEN” 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.

A. The enclosed balance of 2013 is originated from official source, no data available about authentication. (31.12.2013 - 1000 RUB)
B. The enclosed balance of 2014 is originated from official source, no data available about authentication. (31.12.2014 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).

Financial statement

balance	A 31.12.2013	B 31.12.2014	C
1. ASSETS
I. FIXED ASSETS
Intangible assets	0	14
The results of research and development	0	0
Intangible research assets	0	0
Tangible research assets	0	0
Fixed assets	0	11 905
Profitable investments in tangible assets	0	0
Financial investments	0	0
Deferred tax assets	0	0
Other non-current assets	0	0
TOTAL IN SECTION I.	0	11 919
II. CURRENT ASSETS
Inventories	0	275 416
VAT on acquired assets	0	0
Accounts receivable	0	180 146
Financial investments (excluding the monetary equivalent)	0	0
Cash and monetary equivalents	0	49 052
Other current assets	0	300
TOTAL IN SECTION II.	0	504 913
BALANCE	0	516 832
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital, deposits capital, partners capital)	0	10
Treasury stock	0	0
Revaluation of fixed assets	0	0
Additional capital (without revaluation)	0	0
Reserve capital	0	0
Retained earnings (uncovered loss)	0	9 701
TOTAL IN SECTION III.	0	9 711
IV. LONG-TERM LIABILITIES
Borrowed funds	0	0
Deferred tax liabilities	0	0
Provisions	0	0
Other liabilities	0	0
TOTAL IN SECTION IV.	0	0
V. SHORT-TERM LIABILITIES
Borrowed funds	0	0
Payables	0	507 121
Deferred income	0	0
Provisions	0	0
Sonstige Verbindlichkeiten	0	0
TOTAL IN SECTION V.	0	507 121
BALANCE	0	516 832
A. The enclosed profit and loss account of 2013 is originated from official source, no data available about authentication. (31.12.2013 - 1000 RUB) B. The enclosed profit and loss account of 2014 is originated from official source, no data available about authentication. (31.12.2014 - 1000 RUB)

PROFIT AND LOSS ACCOUNT	A 31.12.2013	B 31.12.2014	C
Turnover	612 164	648 730
Cost of sales	343 838	332 969
Gross profit (loss)	268 326	315 761
Selling expenses	257 888	304 916
Administrative expenses	0	0
Sales profit (loss)	10 438	10 845
Earnings from other entities	0	0
Interest receivable	32	0
Interest payable	0	0
Other operating income	24	393
Other operating expenses	6 734	7 578
Profit (loss) before tax	3 760	3 660
Current profit tax	773	861
Permanent tax liabilities (assets)	0	0
Change in deferred tax liabilities	0	0
Change in deferred tax assets	0	0
Different	0	0
Net profit (loss)	2 987	2 799
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	2 987	2 799

RATIOS		2013	2014

	Current ratio	n/a	1
	Quick ratio	n/a	0,45

	Average Collection Period	n/a	50,68
	Payables turnover Period	n/a	278

	Debt ratio	n/a	0,98
	Equity to total assets ratio	n/a	0,02

	Funding ratio	n/a	0,02
	Return on sales	0,49	0,43

	Return on Assets	n/a	1,08
	Return on Equity	n/a	57,65

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.34
UK Pound	1	Rs.100.03
Euro	1	Rs.71.45

INFORMATION DETAILS

Analysis Done by :	KAS

Report Prepared by :	ANK

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.

MIRA INFORM REPORT

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