MIRA INFORM REPORT

Report No. :	504367
Report Date :	18.04.2018

IDENTIFICATION DETAILS

Name :	MAXIN PRAGUE S.R.O.
Registered Office :	Spojovaci 205/24 190 00 Praha9
Country :	Czech Republic
Financials (as on) :	31.12.2016
Date of Incorporation :	02.08.1999
Com. Reg. No.:	C 69996
Legal Form :	Private limited company
Line of Business :	Organisation of conventions and trade shows Organization and production of events, events, congresses and \ conferences, meetings, teambuilding and incentive programs, \ celebrations, anniversaries, meetings, interest groups etc. and \ bringing new products to market. Renting hotel.
No. of Employees :	10

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Czech Republic	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

Company identification

MAXIN PRAGUE s.r.o.	telephone	00420/ 277 779 919
Spojovaci 205/24	Telefax	00420/ 224 827 055
190 00 Praha9	e-mail	sales@maxin-prague.cz
Czech Republic	Web	www.maxin-prague.cz

Registration:		Mestsky soud v Praze
Statistical Nr.	25784846		Registration Nr.	C 69996
Tax Nr.	CZ25784846		Status	active

Economic situation

Business connection	Business connections appear permissible	(31)
Terms of payment	no complaints	(39)

Basic information

Legal form

Private limited company

Founded

02/08/1999 as Private limited company

Registration

02/08/1999, Mestsky soud v Praze, C 69996 Statistical Nr.: 25784846 Tax Nr.: CZ25784846

Registered names

Valid from	Trade name(s)	Valid until
16/03/2006	MAXIN PRAGUE s.r.o.
Valid from	Former name(s)	Valid until
02/08/1999	MAXIN PRAHA, s.r.o.	16/03/2006

Owners and Capital

Crefo Nr.	Name / Address / Status	From	Share
Shareholders
9213763989	Ing. Jarmila Skorikova (birth date 29/05/1959) K nahonu 987/6, 198 00 Praha 9 Czech Republic	18/11/2015	102,000 CZK
9214014323	Jakub Skorik (birth date 24/02/1987) K Nahonu 987/6, 190 00 Praha 9 Czech Republic	18/11/2015	98,000 CZK
Total capital			200,000 CZK

Registered capital

Date	Currency	Value
02/08/1999	CZK	100,000
04/06/2004		200,000

Management

Crefo Nr.	Name / Address / Status	Since	Power of attorney
Management
9213763989	Ing. Jarmila Skorikova (birth date 29/05/1959) Executive Manager K nahonu 987/6, 198 00 Praha 9 Czech Republic	02/08/1999

Company addresses

Valid from	Address	Valid until
07/05/2012	Spojovaci 205/24, 190 00 Praha 9, Czech Republic
02/08/1999	Neustupneho 1832, Praha 5, Czech Republic	23/11/2000
23/11/2000	Neustupneho 1832, 155 00 Praha 5, Czech Republic	06/01/2004
06/01/2004	Benediktska 685/2, 110 05 Praha 1, Czech Republic	21/09/2005
21/09/2005	Vinohradska 35/25, 120 00 Praha 2, Czech Republic	07/05/2012

Business activities

Main activity	Nace
Organisation of conventions and trade shows	82.30
Additional activities	Nace
Organization and production of events, events, congresses and \ conferences, meetings, teambuilding and incentive programs, \ celebrations, anniversaries, meetings, interest groups etc. and \ bringing new products to market. Renting hotel

Economic data

Turnover and Employees

Date	Turnover	Employees
2013	actual sales 33,333,000 CZK
2014	actual sales 44,099,000 CZK
2015	actual sales 47,754,000 CZK
2016	actual sales 41,260,000 CZK	10 employees
2017		10 employees
2018		10 employees

Properties

Name	Detail	Currency	Value
total value of lands	Property of the company	CZK	522,000
total value of buildings	Property of the company	CZK	7,147,000
freehold flat	Property of the company K nahonu 987/6, Praha 9, Hloubetin 198 00, Czech Republic verified in the real estate registry		Unknown

Supplementary data

Remarks

All the sources of negative data accessible to public (insolvency registers, databases of debtors of health insurance institutions, commercial bulletin, collection database of Creditreform and others) are currently monitored. Company management:

Jarmila Skorikova - Executive Director, Managing Director & CEO, phone: 00420/277 779 913, mob .: 00420/606 654 144, e-mail: jarmila@maxin-prague.cz

Jakub Skorik - Head of Sales, tel: 00420/277 779 919, mob .: 00420 775 867 461, e-mail: jakub@maxin-prague.cz

Further participation: Ing. Jarmila Skorikova

- JAVORNIK s.r.o., VAT: 45790639, partner 50%

Banks

Code	Bank name / Address	Account Nr.
0300	Ceskoslovenska obchodni banka, a. s.	211199988/0300
2060	Citfin, sporitelni druzstvo	1052697/2060
0100	Komercm banka, a.s.	107-5808040227/0100
0100	Komercm banka, a.s.	115-3597240237/0100

Main indices

Payment experience and credit opinion

Terms of payment	no complaints	(39)
Business connection	Business connections appear permissible	(31)

Business development

Company development	Constant company development	(30)
Order situation	Satisfactory order situation	(30)

Events

No negative events registered.

Per 18/04/2018 the company was examined in a Central register of executions and no were found.

Balances

Balance

Dec 31, 2016 The enclosed of 2016 from business register, ..

Dec 31, 2015 The enclosed of 2015 from business register, ..

Dec 31, 2014 The enclosed balance of 2014 from business register

Name	Ref.	31/12/2016 1000 CZK	31/12/2015 1000 CZK	31/12/2014 1000 CZK balance
TOTAL ASSETS		13,704	12,865	13,501
Receivables for subscriptions		0	0	0
Fixed assets		10,041	9,352	9,480
Intangible fixed assets		473	264	23
Research and development		0	0
Valuable rights		147	264
Software		147	264	23
Other valuable rights		0	0
Goodwill		0	0
Other intangible fixed assets		0	0
Advance payments for intangible fixed assets and intangible fixed assets under construction		326	0
Advance payments for intangible fixed assets		0	0
Intangible fixed assets under construction		326	0
Tangible fixed assets		9,568	9,088	9,457
Lands and Constructions		7,669	7,830
Lands		522	522	522
Constructions		7,147	7,308	7,469
Equipment		432	1,258	1,446
Adjustment to acquired assets		0	0
Other tangible fixed assets		0	0
Perennial corps		0	0
Breeding and draught animals		0	0
Other tangible fixed assets		0	0
Advance payments for tangible fixed assets and tangible fixed assets under construction		1,467	0
Advance payments for tangible fixed assets		0	0
Tangible fixed assets under construction		1,467	0	20
Long-term financial assets		0	0	0
Shares - controlled and controlling organizations		0	0
Loans - controlled and controlling organizations		0	0
Shares - substantial influence
Loans - substantial influence		0	0
Other securities and shares		0	0
Other loans		0	0
Other financial investments		0	0
Other financial investments		0	0
Advance payments for long-term financial assets		0	0
Current assets		3,300	3,030	3,177
Inventory		357	0	0
Materials		0	0
Work in progress and semi-products		0	0
Finished products and merchandise		357	0
Finished products		0	0
Merchandise		357	0
Animals		0	0
Advance payments for inventory		0	0
Receivables		1,974	2,087
Long-term receivables		232	232	232
Trade receivables		0	0
Receivables - controlled and controlling organizations		0	0	232
Receivables from accounting units with substantial influence		0	0
Deferred tax receivable		0	0
Other receivables		232	232
Receivables from partners		232	232
Long-term deposits given		0	0
Estimated receivable		0	0
Other receivables		0	0
Short-term receivables		1,742	1,855	2,018
Trade receivables		441	1,277	501
Receivables - controlled and controlling organizations		0	0
Receivables from accounting units with substantial influence		0	0
Other receivables		1,301	578
Short-term financial assets			927
Receivables from partners		0	0
Receivables from social security and health insurance		0	0
Due from state - tax receivable		589	132	290
Short-term deposits given		698	446	778
Estimated receivable		0	0	300
Other receivables		14	0	149
Short-term financial assets		0	0
Shares - controlled and controlling organizations		0	0
Other short-term financial assets		0	0
Cash and bank accounts		969	943
Cash		118	144	100
Bank accounts		851	799	827
Accruals		363	483	844
Deferred expenses		363	483	844
Complex deferred costs		0	0
Deferred income		0	0
TOTAL LIABILITIES		13,704	12,865	13,501
Equity		1,798	1,772	-55
Registered capital		200	200	200
Registered capital		200	200	200
Ownership interests (-)		0	0
Changes of registered capital (+/-)		0	0
Share premium and capital funds		0	0	0
Share premium		0	0
Capital funds		0	0
Other capital funds		0	0
Differences from revaluation of assets and liabilities ( +/- )		0	0
Diferences from revaluation in tranformation of companies (+/-)		0	0
Diferences from tranformation of companies ( +/- )		0	0
The differences from valuation on transformation of business corporations		0	0
Funds from earnings		20	20	20
Other reserve funds		0	0
Statutory and other funds		20	20	20
Profit / loss - previous years (+/-)		1,552	-275	-502
Retained earnings from previous years		1,552	564	564
Accumulated losses from previous years (-)		0	-839	-1,066
Other profit / loss - previous years (+/-)		0	0
Profit / loss - current year (+/-)		26	1,827	227
Decided on advance for payment of a profit share (-)		0	0
Liabilities		11,906	11,093	13,556
Reserves		0	576	0
Reserves for pension and similar payables		0	0
Income tax reserves		0	461
Reserves under special statutory regulations		0	0
Other reserves		0	115
Payables		11,906	10,517
Long-term payables		6,562	6,085	5,884
Issues bonds		0	0
Exchangeable obligations		0	0
Other bonds		0	0
Liabilities to credit institutions		0	311	476
Long-term advances received		0	0
Trade payables		0	0
Long-term notes payables		0	0
Payables - controlled and controlling organizations		0	0
Payables to accounting units with substantial influence		0	0
Deferred tax liability		0	0
Other payables		6,562	5,774
Payables to partners		5,609	5,420	5,374
Estimated payables		0	0
Other payables		953	354	510
Short-term payables		5,344	4,432	4,959
Issues bonds		0	0
Exchangeable obligations		0	0
Other bonds		0	0
Payables to banks		1,883	2,471	2,237
Short-term deposits received		2,579	851	3,156
Trade payables		482	545	1,188
Short-term notes payables		0	0
Payables - controlled and controlling organizations		0	0
Payables to accounting units with substantial influence		0	0
Other payables		400	565
Bank loans and financial accommodations			2,713
Payables to partners		0	0
Short-term accommodations		0	66	0
Payroll		175	146	39
Payables to social securities and health insurance		95	75	138
Due from state - tax liabilities and subsidies		19	226	118
Estimated payables		46	52	318
Other payables		65	0	2
Accruals		0	0	0
Accrued expenses		0	0
Deferred revenues		0	0

Profit and loss accounts

Dec 31, 2016 The enclosed of 2016 from business register, ..

Dec 31, 2015 The enclosed of 2015 from business register, ..

Dec 31, 2014 The enclosed profit/loss account of 2014 from business register,..

Name	Ref.	31/12/2016 1000 CZK	31/12/2015 1000 CZK	31/12/2014 1000 CZK profit/loss account
Turnover		41,260	47,754	44,099
Revenues from own products and services		41,260	47,754	44,099
Revenues from sold goods		0	0	0
Production consumption		35,838	39,776
Expenses on sold goods		0	0	0
Sale margin				0
Production				44,099
Consumption of material and energy		1,315	1,410	1,649
Services		34,523	38,366	37,099
Added value				5,351
Change in inventory of own products (+/-)		0	0
Capitalization (-)		0	0
Production consumption				38,748
Personnel expenses		5,037	4,404	4,372
Wages and salaries				3,338
Wages and salaries		3,901	3,287
Social security, healt insurance and other expenses		1,136	1,117
Social security expenses and health insurance		1,012	916	886
Other expenses		124	201	148
Value adjustments in the operational area		622	625
Value adjustments of intagible and tangible fixed assets		622	625
Value adjustments of intagible and tangible fixed assets - permanent		622	625	611
Value adjustments of intagible and tangible fixed assets - temporary		0	0
Stock value adjustments		0	0
Receivable value adjustments		0	0
Revenues from disposals of fixed assets and materials			0
Other operating revenues		698	142
Other operating expenses			177
Revenues from disposals of fixed assets		630	0
Revenues from disposals of materials		0	0
Net book value of disposed fixed assets and materials			0
Other operating revenues		68	142
Other operating expenses		186	349
Net book value of sold fixed assets		177	0
Net book value of sold material		0	0
Taxes and fees		16	22	14
Change in operating reserves and adjustments and complex deferred costs ( + / -)			0
Reserves and complex deferred costs		-116	116
Other operating revenues			314
Other operating expenses		109	211
Operating profit / loss		275	2,742	491
Revenues from long-term financial assets -shares		0	0
Revenues from shares - controlled and controlling organizations		0	0
Other revenues from shares		0	0
Costs spent for sold shares		0	0
Revenues from other long-term financial assets		0	0
Revenues from other long-term financial assets -controlled and controlling organizations		0	0
Revenues from other long-term financial assets		0	0
Costs related to other fixed financial assets		0	0
Interest revenues		0	1
Interest revenues - controlled and controlling organizations		0	0
Other interest revenues		0	1
Value adjustments and reserves in the financial area		0	0
Interest expenses		116	90	108
Interest revenues			5
Interest expenses - controlled and controlling organizations		0	0
Other interest expenses		116	90
Other financial revenues				276
Other financial reveneus		92	304
Other financial expenses			319
Other financial expenses		196	612
Profit / loss from financial operations (transactions ) (+/-)		-220	-397	-146
Income tax on ordinary income			118
Profit / loss before tax (+/-)		55	2,345	345
Income tax		29	518
Due tax			118
Income tax - due tax		29	518
Income tax - tax deferred (+/-)		0	0
Operating profit / loss ordinary activity			227
Operating profit / loss extraordinary activity			0
Profit/Loss after tax ( +/-)		26	1,827
Transfer profit (loss ) to partners (+/-)		0	0
Profit / loss of current accounting period (+/-)		26	1,827	227
Net turnover for the accounting period		42,050	48,201
Operating cash flow
Investment cash flow
Financial cash flow
Receivables after due date total
Receivables more than 360 days after due date
Receivables more than 180 days after due date
Receivables more than 90 days after due date
Receivables more than 60 days after due date
Receivables more than 30 days after due date
Receivables less than 30 days after due date
Liabilities after due date total
Liabilities more than 360 days after due date
Liabilities more than 180 days after due date
Liabilities more than 90 days after due date
Liabilities more than 60 days after due date
Liabilities more than 30 days after due date
Liabilities less than 30 days after due date

Financial Ratios

Name	Ref.	31/12/2016	31/12/2015	31/12/2014
Return on total assets ROA (in %)	1	0.40	18.23	2.56
Return on equity ROE (in %)	2	3.06	132.34	-627.27
Return on sales ROS (in %)	3	0.13	4.91	0.78
Turnover of receivables (in days)	4	3.90	9.76	4.15
Turnover of liabilities (in days)	5	4.26	4.17	9.83
Turnover of inventories (days)	6	3.16	0.00	0.00
Net working capital (in ths. CZK)	7	-3927.00	-3939.00	-4019.00
Ratio of accounts payable to accounts receivable (in %)	8	16.58	19.84	20.75
Ratio of profit/loss to tangible assets (in%)	9	24.34	19.58	21.50
Current ratio	10	0.46	0.43	0.44
Quick ratio	11			0.41
Cash ratio	12			0.13
Debt ratio I (in %)	13	86.88	86.23	100.41
Debt ratio II (in %)	14	86.88	86.23	100.41

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.61
UK Pound	1	INR 94.21
Euro	1	INR 81.32
CZK	1	INR 3.21

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.