MIRA INFORM REPORT

Report No. :	338677
Report Date :	09.09.2015

IDENTIFICATION DETAILS

Name :	OAO "METALLSERVIS"

Registered Office :	Ul Stakhanovskaya D 19, 109428 G Moskva

Country :	Russia

Financials (as on) :	31.12.2014

Date of Incorporation :	15.04.1993

Com. Reg. No.:	1027700013659

Legal Form :	Public limited company (OAO)

Line of Business :	Subject is engaged in wholesale of metals and metal ores

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 :	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)

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

OAO "METALLSERVIS"

Ul Stakhanovskaya D 19, 109428 G Moskva

Tel: 74959251155
Telefax: 74957274100
E-Mail: contact@mc.ru
Web: www.mc.ru

Registration Details

Company development

Constant company development.

Business course	Good order situation.
Terms of payment	As far as know, punctually.

Business connection

Business connection and credit are permissible.

Established on

15/04/1993 - Public limited company (OAO)

Registered on

09/07/2002, UPRAVLENIE MNS ROSSII PO G.MOSKVE,

RegNr.: 1027700013659
Tax number: 7721040281
Statistical number: 01869579

Registered capital		RUB	3 907 761,-
Stockholders	Valeriy Mitkhatovich Zyaparov	%	0,19

	Oleg Anatolevich Tyurpenko	%	0,08
	Vladimir YAkovlevich Feldman	%	0,0056

Sole Executive Body

ALEKSANDR PETROVICH MANCHENKO
Managing director

General data

Main activity:
Wholesale of metals and metal ores

Full name:
Otkrytoe aktsionernoe obshchestvo "METALLSERVIS"

Short name:
OAO "METALLSERVIS"

Residence address:
ul Stakhanovskaya d 19, 109428 g Moskva
Tel:
74956600687
74959251155
Telefax:
74957274100
E-Mail:
contact@mc.ru
Web:
www.mc.ru

Other activities

General construction of buildings and civil engineering works

Agents involved in the sale of a variety of goods

Other wholesale trade
Cargo handling

Storage and warehousing
Activities of other transport agencies

Other financial intermediation n.e.c.
Security broking and fund management

Market research and public opinion polling
Technical and vocational secondary education

Annual turnover

31/12/2006	Enterprise turnover	RUB	13 945 520 000,-
31/12/2007	Enterprise turnover	RUB	19 192 506 000,-

31/12/2008	Enterprise turnover	RUB	19 970 939 000,-
31/12/2009	Enterprise turnover	RUB	12 788 248 000,-

31/12/2010	Enterprise turnover	RUB	24 259 233 000,-
31/12/2011	Enterprise turnover	RUB	39 084 549 000,-

31/12/2012	Enterprise turnover	RUB	44 228 019 000,-
31/12/2013	Enterprise turnover	RUB	50 960 499 000,-

31/12/2014

Enterprise turnover

RUB

63 155 758 000,-

Events, negative data

02.02.2011 - Legal debt collection procedure

Remark:
A60-2360/2011 - 1 804 409 RUB

11.03.2011 - Legal debt collection procedure

Remark:
A60-6564/2011 - 353 737 RUB

22.06.2011 - Legal debt collection procedure

Remark:
A60-19714/2011 - 494 884 RUB

08.04.2015 - Legal debt collection procedure

Remark:
A43-8325/2015

Remarks

The main activity of OAO “METALLSERVIS” is wholesale trade of metal products.
The subject has the following license:
00902 - Harvesting, storage, processing and sale of scrap metal – Unlimited.
The register of shareholders of OAO “METALLSERVIS” is held by a private non-state registrar.
The information about shareholders is closed. List of shareholders provided in the report was formed according to the information from last published official “List of affiliated persons” of the company of 30.06.2015.
According to the research, through the managing director of OAO “METALLSERVIS”, Aleksandr Petrovich Manchenko, the company is affiliated with following legal persons:
OOO “Metallservis-finans” – OGRN: 1057748494957, Moscow. Aleksandr Petrovich Manchenko is the head of the board of director of this company.
Affiliation through the managing director with other legal subjects has not been revealed.
Debt collection of the company (as claimant):
In 2015: 694 671, 88 RUB;
In 2014: 78 741 885, 36 RUB.
The company had state contracts on the total sum:
In 2013: 989 618 RUB;
In 2012: 863 349 RUB;
In 2011: 241 610 RUB.
According to the information, disclosed by the Federal Tax Service, OAO “METALLSERVIS” 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, OAO “METALLSERVIS” does not have delays in social payments.
According to the information, disclosed by the Federal Labor Service, OAO “METALLSERVIS” does not plan to attract foreign employees.
According to the research, OAO “METALLSERVIS” 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.
OAO “METALLSERVIS” 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.

Bank relations

SBERBANK ROSSII OAO:
Central address: RU MOSKVA, UL.VAVILOVA,19
Account number: 40702810338060104275

MINB:
Central address: RU MOSKVA, UL.ORDZHONIKIDZE,5
Account number: 40702810600150000699

OAO BANK VTB:
Central address: RU MOSKVA, UL.KUZNETSKIY MOST,16
Account number: 40702810500050000099

SVEDBANK:
Central address: RU MOSKVA, UL.SADOVAYA-SPASSKAYA,24
Account number: 40702810000010000932

TRANSKREDITBANK:
Central address: RU MOSKVA, UL.N.BASMANNAYA,37A STR.1
Account number: 40702810400000007196

ADMIRALTEYSKIY:
Central address: RU MOSKVA, LOPUKHINSKIY PER.,6 STR.1
Account number: 40702810700080000011

ZAO YUNIKREDIT BANK:
Central address: RU MOSKVA, PRECHISTENSKAYA NAB.,9
Account number: 40702810900013099607

PROBIZNESBANK:
Central address: RU MOSKVA, UL.PUDOVKINA,3
Account number: 40702810800060114313

GLOBEKSBANK:
Central address: RU MOSKVA, UL.B.NIKITSKAYA,60, STR.1
Account number: 40702810000750004946

ROSEVROBANK:
Central address: RU MOSKVA, UL.VAVILOVA,24
Account number: 40702810000110110755

FINANCIALS

Balance	A 31.12.2012	B 31.12.2013	C 31.12.2014
1. ASSETS
I. FIXED ASSETS
Intangible assets	6	3	1
The results of research and development	0	0	0
Intangible research assets	0	0	0
Tangible research assets	0	0	0
Fixed assets	784 410	756 092	700 357
Profitable investments in tangible assets	0	0	0
Financial investments	15 231	13 938	102 020
Deferred tax assets	1 300	684	657
Other non-current assets	0	0	0
TOTAL IN SECTION I.	800 947	770 718	803 035
II. CURRENT ASSETS
Inventories	4 467 714	6 054 494	6 508 550
VAT on acquired assets	114 306	274 733	249 741
Accounts receivable	5 509 182	6 022 376	6 599 568
Financial investments (excluding the monetary equivalent)	1 644 365	2 016 001	2 124 649
Cash and monetary equivalents	38 492	24 742	41 528
Other current assets	38 880	29 300	62 705
TOTAL IN SECTION II.	11 812 939	14 421 647	15 586 741
BALANCE	12 613 886	15 192 365	16 389 776
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital, deposits capital, partners capital)	3 908	3 908	3 908
Treasury stock	0	0	0
Revaluation of fixed assets	44 280	44 280	44 280
Additional capital (without revaluation)	54 525	54 525	54 525
Reserve capital	26	26	26
Retained earnings (uncovered loss)	3 535 723	4 028 669	4 636 290
TOTAL IN SECTION III.	3 638 462	4 131 407	4 739 037
IV. LONG-TERM LIABILITIES
Borrowed funds	2 700 373	0	2 000 000
Deferred tax liabilities	6 872	7 266	7 121
Provisions	0	0	0
Other liabilities	0	0	0
TOTAL IN SECTION IV.	2 707 245	7 266	2 007 121
V. SHORT-TERM LIABILITIES
Borrowed funds	4 394 333	8 399 381	4 130 029
Payables	1 870 584	2 651 310	5 510 594
Deferred income	0	0	0
Provisions	3 263	3 001	2 995
Sonstige Verbindlichkeiten	0	0	0
TOTAL IN SECTION V.	6 268 179	11 053 692	9 643 618
BALANCE	12 613 886	15 192 365	16 389 776
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) C. The enclosed profit and loss account of 2014 is originated from other source, it is not authenticated by the auditor. (31.12.2014 - 1000 RUB)

profit and loss account	A 31.12.2012	B 31.12.2013	C 31.12.2014
Turnover	44 228 019	50 960 499	63 155 758
Cost of sales	40 431 683	47 801 356	59 567 550
Gross profit (loss)	3 796 336	3 159 143	3 588 208
Selling expenses	2 085 925	1 507 004	1 714 235
Administrative expenses	0	0	0
Sales profit (loss)	1 710 411	1 652 139	1 873 973
Earnings from other entities	0	0	0
Interest receivable	47 925	100 677	117 304
Interest payable	663 963	762 181	622 120
Other operating income	584 690	398 383	755 748
Other operating expenses	1 045 111	739 395	1 358 994
Profit (loss) before tax	633 952	649 623	765 911
Current profit tax	129 749	135 641	157 618
Permanent tax liabilities (assets)	0	0	0
Change in deferred tax liabilities	2 406	393	144
Change in deferred tax assets	181	-616	-27
Different	0	67	53
Net profit (loss)	501 978	512 906	608 357
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	501 978	512 906	608 357

Ratios		2012	2013	2014
	Current ratio	1,88	1,3	1,62

	Quick ratio	1,17	0,76	0,94
	Average Collection Period	46,38	41,3	36,47

	Payables turnover Period	16,28	17,26	25,01
	Debt ratio	0,71	0,73	0,71

	Equity to total assets ratio	0,29	0,27	0,29
	Funding ratio	0,41	0,37	0,41

	Return on sales	1,14	1,01	0,96
	Return on Assets	4,1	3,69	3,85

Return on Equity

14,82

13,2

13,72

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.40
UK Pound	1	Rs.101.19
Euro	1	Rs.73.89

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	ASH

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.