MIRA INFORM REPORT

Report No. :	339155
Report Date :	02.09.2015

IDENTIFICATION DETAILS

Name :	OOO "OSTIN"

Registered Office :	Ul Profsoyuznaya D 61 A, 117420 G Moskva

Country :	Russia

Financials (as on) :	31.12.2013

Date of Incorporation :	27.06.2005

Com. Reg. No.:	1057747320003

Legal Form :	Limited Liability Companies (OOO)

Line of Business :	Retail Sale of Clothing.

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.

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. 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 "OSTIN"

Ul Profsoyuznaya d 61 A,
117420 g Moskva

Tel: 74957774999
Telefax: 74957774999
Web: www.ostin.com

Company summary

Company development	Constant Company Development.
Business course	Good order situation.

Terms of payment	Slow but correct
Business connection	Business connection appears permissable.

Legal form

Limited liability companies (OOO)

Established on	27/06/2005 - Limited liability companies (OOO)
Registered on	27/06/2005, Mezhrayonnaya inspektsiya Federalnoy nalogovoy sluzhby № 46 po g. Moskve, RegNr.: 1057747320003 Tax number: 7728551510 Statistical number: 77522753

Registered capital		RUB	123 534 845,-
Owner	CHKOO "OSTIN OPEREYSHNZ PTE. LTD." ROBINZON ROUD, № 02-00, 068898 SINGAPUR, Singapur	%	100

Sole Executive Body	Vasiliy Anatolevich Frolov Managing director
General data	Main activity: Retail sale of clothing	(52.42.1)

	Full name: Obshchestvo s ogranichennoy otvetstvennostyu "Ostin"
	Name in foreign language: "Ostin" Ltd.

	Short name: OOO "Ostin"

	Residence address: ul Profsoyuznaya d 61 A, 117420 g Moskva
	Representative office: Pudong, ZHang YAng Road 838, 200122 SHankhay

	Dunfen Road 438, 510040 Guanchzhou
	Address of the company premises: Moskovskoe shosse d. 81A, komn. 143, 443111 g. Samara

	ul. Sulimova d. 50, ofis 3.09, 620137 g. Ekaterinburg
	Leninskiy prospekt d. 127, lit. B, 198216 g. Sankt-Peterburg

	Voroshilovskiy prospekt d. 59/18, 344007 g. Rostov-na-Donu
	ul. Karla Marksa d. 182, 680031 g. KHabarovsk

	ul. Koroleva d. 40, 134, pom. 17, 630015 g. Novosibirsk
	Permanent address: ul. Aviakonstruktora Mikoyana d. 12, 125167 g. Moskva Tel: 74957774999 Telefax: 74957774999 Web: www.ostin.com

Other activities
	:

	Wholesale of clothing and footwear	(51.42.1)
	Wholesale of clothing and footwear	(51.42.2)

	Wholesale of clothing and footwear	(51.42.3)
	Wholesale of clothing and footwear	(51.42.4)

	Wholesale of clothing and footwear	(51.42.5)
	Retail sale of clothing	(52.42.2)

	Retail sale of clothing	(52.42.3)
	Retail sale of clothing	(52.42.4)

	Retail sale of clothing	(52.42.5)
	Retail sale of clothing	(52.42.6)

	Retail sale of clothing	(52.42.7)
	Retail sale of clothing	(52.42.8)

	Retail sale of footwear and leather goods	(52.43.1)
	Retail sale of footwear and leather goods	(52.43.2)

	Other retail sale in specialized stores				(52.48.23)
Annual turnover	31/12/2007	Enterprise turnover	RUB	2 257 186 000,-

	31/12/2008	Enterprise turnover	RUB	4 865 993 000,-
	31/12/2009	Enterprise turnover	RUB	6 674 721 000,-

	31/12/2010	Enterprise turnover	RUB	9 317 581 000,-
	31/12/2011	Enterprise turnover	RUB	14 346 057 000,-

	31/12/2012	Enterprise turnover	RUB	19 456 021 000,-
	31/12/2013	Enterprise turnover	RUB	23 414 961 000,-

Events, negative data

09.01.2014 - Legal debt collection procedure

Remark:
A40-654/2014

Remarks

OOO “Ostin” is the managing chain of stores “O’STIN”, which sells clothes for men and women. Currently chain is represented by more than 500 stores in Russia and CIS countries.
The subject represents following brands on the Russian market: O'Stin Casual, O'Stin Studio, O'Stin Woman and O'stin Man.
According to the research, through the managing director of OOO “Ostin”, Vasily Anatolevich Frolov, the company is affiliated with following legal persons:
OOO “O STIN” – OGRN: 1047796336587, Moscow. The company was liquidated in 2008. Vasily Anatolevich Frolov was the director of this company.
Affiliation through the managing director with other legal subjects has not been revealed.
The subject participated in court cases as claimant and collected:
In 2014: 355 883, 58 RUB
In 2013: 53 959 RUB.
According to the information, disclosed by the Federal Tax Service, OOO “Ostin” 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 “Ostin” does not have delays in social payments.
According to the information, disclosed by the Federal Labor Service, OOO “Ostin” does not plan to attract foreign employees.
According to the research, OOO “Ostin” 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 “Ostin” 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.

Financials

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).
C. 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 31.12.2011	B 31.12.2012	C 31.12.2013
1. ASSETS
I. FIXED ASSETS
Intangible assets	23 857	49 091	43 654
The results of research and development	0	0	0
Intangible research assets	0	0	0
Tangible research assets	0	0	0
Fixed assets	368 396	447 931	569 232
Profitable investments in tangible assets	0	0	0
Financial investments	0	0	0
Deferred tax assets	0	0	0
Other non-current assets	9 779	7 192	59 038
TOTAL IN SECTION I.	402 032	504 214	671 925
II. CURRENT ASSETS
Inventories	3 947 444	4 511 308	6 594 227
VAT on acquired assets	72 339	12 236	11 845
Accounts receivable	1 422 502	1 280 701	1 618 619
Financial investments (excluding the monetary equivalent)	76 669	50 275	46 275
Cash and monetary equivalents	511 098	1 667 486	1 430 661
Other current assets	414	0	0
TOTAL IN SECTION II.	6 030 466	7 522 006	9 701 626
BALANCE	6 432 498	8 026 220	10 373 551
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital, deposits capital, partners capital)	123 535	123 535	123 535
Treasury stock	0	0	0
Revaluation of fixed assets	0	0	0
Additional capital (without revaluation)	154	154	154
Reserve capital	0	0	0
Retained earnings (uncovered loss)	4 246 878	5 606 246	6 505 985
TOTAL IN SECTION III.	4 370 567	5 729 935	6 629 674
IV. LONG-TERM LIABILITIES
Borrowed funds	779 726	1 314 493	1 728 910
Deferred tax liabilities	0	0	0
Provisions	0	0	0
Other liabilities	0	0	0
TOTAL IN SECTION IV.	779 726	1 314 493	1 728 910
V. SHORT-TERM LIABILITIES
Borrowed funds	0	0	2 033
Payables	1 282 201	981 791	2 012 876
Deferred income	4	0	58
Provisions	0	0	0
Sonstige Verbindlichkeiten	0	0	0
TOTAL IN SECTION V.	1 282 205	981 791	2 014 966
BALANCE	6 432 498	8 026 220	10 373 551

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)
C. 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 31.12.2011	B 31.12.2012	C 31.12.2013
Turnover	14 346 057	19 456 021	23 414 961
Cost of sales	5 049 298	7 302 069	8 940 427
Gross profit (loss)	9 296 759	12 153 952	14 474 534
Selling expenses	7 205 926	10 079 772	12 833 427
Administrative expenses	0	0	0
Sales profit (loss)	2 090 833	2 074 180	1 641 107
Earnings from other entities	0	0	0
Interest receivable	11 346	45 776	44 821
Interest payable	78 925	128 501	127 107
Other operating income	367 123	293 143	333 773
Other operating expenses	513 075	447 906	573 602
Profit (loss) before tax	1 877 302	1 836 692	1 318 992
Current profit tax	376 000	368 172	263 826
Permanent tax liabilities (assets)	0	0	0
Change in deferred tax liabilities	0	0	0
Change in deferred tax assets	0	0	0
Different	52 073	109 152	155 428
Net profit (loss)	1 449 229	1 359 368	899 738
Results of fixed assets revaluation, non-includedin net profit/loss for period	0	0	0
Result of other transactions, non included in net profit/loss for period	0	0	0
Total financial result for period	1 449 229	1 359 368	899 738

RATIOS

	2011	2012	2013
Current ratio	4,7	7,66	4,81
Quick ratio	1,62	3,07	1,54

Average Collection Period	n/a	25,36	22,6
Payables turnover Period	n/a	56,58	61,13

Debt ratio	0,32	0,29	0,36
Equity to total assets ratio	0,68	0,71	0,64

Funding ratio	2,12	2,5	1,77
Return on sales	10,1	6,99	3,84

Return on Assets	n/a	18,8	9,78
Return on Equity	n/a	26,92	14,56

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.26
UK Pound	1	Rs.101.99
Euro	1	Rs.74.79

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.

MIRA INFORM REPORT

Company Name and address

Company summary

Financials

Unit