MIRA INFORM REPORT

Report No. :	340502
Report Date :	15.09.2015

IDENTIFICATION DETAILS

Name :	OOO " INSTRUMENTALNAYA KOMPANIYA BM"
Registered Office :	Ul Torfyanaya D 35 603037 G Nizhniy Novgorod
Country :	Russia
Financials (as on) :	31.12.2013
Date of Incorporation :	17.05.2007
Legal Form :	Limited Liability Companies (OOO)
Line of Business :	Wholesale of hardware Other wholesale trade
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 :	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	B1	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. 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 ” INSTRUMENTALNAYA KOMPANIYA BM”

Ul Torfyanaya d 35

603037 g Nizhniy Novgorod

Russia

Tel 78312731012

Crefo Nr. 9490784621 Registration: Inspektsiya Federalnoy nalogovoy

sluzhby po Sormovskomu rayonu

g.Nizhnego Novgoroda

Statistical Nr. 80459445 Registration Nr. 1075263005190

Tax Nr. 5263061186 Status Active

Economic situation

Business connection Business connection appears permissible

Terms of payment Slow but correct

Basic information

Legal form

Limited liability companies (OOO)

Founded

17/05/2007 as Limited liability companies (OOO)

Registration

17/05/2007, Inspektsiya Federalnoy nalogovoy sluzhby po Sormovskomu rayonu g.Nizhnego Novgoroda, 1075263005190

Statistical Nr.: 80459445

Tax Nr.: 5263061186

Registered names

Valid from	Full name	Valid until
	Obshchestvo s ogranichennoy otvetstvennostyu "INSTRUMENTALNAYA KOMPANIYA BM"
Valid from	Short name	Valid until
	OOO "INSTRUMENTALNAYA KOMPANIYA BM"

Owners and Capital

Crefo Nr.	Name / Address / Status	From	Share
Owner
9498054040 9498054040	Tatyana Gennadevna Kotelnikova		50%
9498053956 9498053956	Olga Valentinovna Konovalova		50%

Registered capital

Date Currency Value

31/12/2010 RUB 10 000

Management

Crefo Nr.	Name / Address / Status	Since Power of attorney
Sole Executive Body
9509855851	Director Igor Vyacheslavovich Volkov

Company addresses

Valid from	Residence address	Valid until
	ul Torfyanaya d 35, 603037 g Nizhniy Novgorod, Russia Tel: 78312731012

Business activities

Main activity	Nace
Wholesale of hardware	51.54.3
Additional activities	Nace
Other wholesale trade 51.7	51.7

Economic data

Turnover and Employees

Date	Turnover	Employees
31/12/2008	31 002 000 RUB
31/12/2009	22 338 000 RUB
31/12/2010	45 228 000 RUB
31/12/2011	54 802 000 RUB
31/12/2012	86 409 000 RUB
31/12/2013	80 549 000 RUB

Supplementary data

Remarks

According to open sources, OOO “INSTRUMENTALNAYA KOMPANIYA BM” specializes in wholesale trade of hand tools.

Affiliation through the managing director with other legal subjects has not been revealed.

OOO “INSTRUMENTALNAYA KOMPANIYA BM” did not participate in court cases.

According to the information, disclosed by the Federal Tax Service, OOO “INSTRUMENTALNAYA KOMPANIYA BM” 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 “INSTRUMENTALNAYA KOMPANIYA BM” does not have delays in social payments.

According to the research, OOO “INSTRUMENTALNAYA KOMPANIYA BM” 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 “INSTRUMENTALNAYA KOMPANIYA BM” 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.

Main indices

Payment experience and credit opinion

Terms of payment	Slow but correct	(29)
Business connection	Business connection appears permissable.	(31)

Business development

Company development	Constant company development.	(31)
Business course	Satisfactory order situation.	(31)

Events

No negative events registered.

Balances

31.12.2013 The enclosed balance of 2013 is originated from official source, no data available about authentication.

31.12.2012 The enclosed balance of 2012 is originated from official source, no data available about authentication.

Name	Ref.	31/12/2013 1000 RUB balance	31/12/2012 1000 RUB balance
1. ASSETS
I. FIXED ASSETS
Intangible assets	1110	0	0
The results of research and development	1120	0	0
Intangible research assets	1130	0	0
Tangible research assets	1140	0	0
Fixed assets	1150	0	0
Profitable investments in tangible assets	1160	0	0
Financial investments	1170	0	0
Deferred tax assets	1180	0	0
Other non-current assets	1190	0	0
TOTAL IN SECTION I.	1100	0	0
II. CURRENT ASSETS
Inventories	1210	0	0
VAT on acquired assets	1220	0	0
Accounts receivable	1230	15 050	14 069
Financial investments (excluding the monetary equivalent)	1240	0	0
Cash and monetary equivalents	1250	2 124	2 326
Other current assets	1260	16	396
TOTAL IN SECTION II.	1200	17 190	16 791
BALANCE	1600	17 190	16 791
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital, deposits capital, partners capital)	1310	10	10
Treasury stock	1320	0	0
Revaluation of fixed assets	1340	0	0
Additional capital (without revaluation)	1350	0	0
Reserve capital	1360	0	0
Retained earnings (uncovered loss)	1370	15 283	9 977
TOTAL IN SECTION III.	1300	15 293	9 987
IV. LONG-TERM LIABILITIES
Borrowed funds	1410	0	0
Deferred tax liabilities	1420	0	0
Provisions	1430	0	0
Other liabilities	1450	0	0
TOTAL IN SECTION IV.	1400	0	0
V. SHORT-TERM LIABILITIES
Borrowed funds	1510	0	0
Payables	1520	1 897	6 804
Deferred income	1530	0	0
Provisions	1540	0	0
Sonstige Verbindlichkeiten	1550	0	0
TOTAL IN SECTION V.	1500	1 897	6 804
BALANCE	1700	17 190	16 791

Profit and loss accounts

31.12.2013 The enclosed profit and loss account of 2013 is originated from official source, no data available about authentication.

31.12.2012 The enclosed profit and loss account of 2012 is originated from official source, no data available about authentication.

Name	Ref.	31/12/2013 1000 RUB profit and loss account	31/12/2012 1000 RUB profit and loss account
Turnover	2110	80 549	86 409
Cost of sales	2120	67 812	72 530
Gross profit (loss)	2100	12 737	13 879
Selling expenses	2210	6 804	7 306
Administrative expenses	2220	0	0
Sales profit (loss)	2200	5 933	6 573
Earnings from other entities	2310	0	0
Interest receivable	2320	0	0
Interest payable	2330	0	0
Other operating income	2340	1 968	1 472
Other operating expenses	2350	1 268	5 263
Profit (loss) before tax	2300	6 633	2 782
Current profit tax	2410	1 327	558
Permanent tax liabilities (assets)	2421	0	0
Change in deferred tax liabilities	2430	0	0
Change in deferred tax assets	2450	0	0
Different	2430	0	0
Net profit (loss)	2400	5 306	2 224
Results of fixed assets revaluation, non-includedin net profit/loss for period	2510	0	0
Result of other transactions, non included in net profit/loss for period	2520	0	0
Total financial result for period	2500	5 306	2 224

Financial Ratios

Name	Ref.	31/12/2013	31/12/2012
Current ratio	1	9,06	2,47
Quick ratio	2	9,06	2,47
Average Collection Period	3	65,98	56,39
Payables turnover Period	4	23,42	37,75
Debt ratio	5	0,11	0,41
Equity to total assets ratio	6	0,89	0,59
Funding ratio	7	8,06	1,47
Return on sales	8	6,59	2,57
Return on Assets	9	31,23	13,58
Return on Equity	10	41,98	25,04

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.37
UK Pound	1	Rs.102.54
Euro	1	Rs.75.32

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	VNT

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.