MIRA INFORM REPORT

Report No. :	504008
Report Date :	19.04.2018

IDENTIFICATION DETAILS

Name :	OOO RGS
Registered Office :	Sestroretskaya Street 5, Lit A, Room 11-N, Primorskiy District, 197183 Saint Petersburg
Country :	Russia
Financials (as on) :	31.12.2016
Date of Incorporation :	13.01.2015
Com. Reg. No.:	OGRN 1157847004776
Legal Form :	Limited Liability Company
Line of Business :	Trading as Importers and Wholesalers of Fresh Fruits and Vegetables.
No. of Employees :	15

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)
Russia	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

RUSSIA - ECONOMIC OVERVIEW

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a centrally planned economy towards a more market-based system. Both economic growth and reform have stalled in recent years, however, and Russia remains a predominantly 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, transportation, banking, and defense-related sectors. The protection of property rights is still weak, and the state continues to interfere in the free operation of the private sector.

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 is heavily dependent on the movement of world commodity prices as 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 the 1998-2008 period as oil prices rose rapidly, has seen diminishing growth rates since then due to the exhaustion of Russia’s commodity-based growth model.

A combination of falling oil prices, international sanctions, and structural limitations pushed Russia into a deep recession in 2015, with GDP falling by close by 2.8%. The downturn continued through 2016, with GDP contracting another 0.2%, but was reversed in 2017 as world demand picked up. Government support for import substitution has increased recently in an effort to diversify the economy away from extractive industries.

Source : CIA

BRIEF SUMMARY
COMPANY NAME	OOO RGS
ADDRESS	Building	Street			Area			PO Box
	N/A	Sestroretskaya Street 5, Lit A, Room 11-N			Primorskiy District			197183 Saint Petersburg
TEL/FAX	Verified Phones: (+7 911) 920 3868 / Fax: +(7 812) 702 4360
EMAIL/WEBSITE	Email: ludmila@rgsco.ru / info@rgsco.ru / Website: www.rgsco.ru
ACTIVITY	NACE 4631 - Wholesale of fruit and vegetables; NACE 4638 - Wholesale of other food, including fish, crustaceans and molluscs;
PRINCIPAL	Yulia Antonovna Ten					Workforce
	Managing Director					15
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	13/01/2015		OGRN 1157847004776	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			1,000,000
OPINION ON MAX CREDIT	CURRENCY			AMOUNT
	RUBLE (RUB)			3,900,000

IDENTIFICATION
CO. NAME	OOO RGS
ENQUIRED NAME	RGS LLC
ALSO KNOWN NAME (S)	OOO ARDZHIES / RGS LLC / RGS Torgovaya Kompaniya
STREET	Sestroretskaya Street 5, Lit A, Room 11-N
AREA	Primorskiy District
POSTAL ADDRESS	197183 Saint Petersburg
CITY	Saint Petersburg
COUNTRY	Russia
TELEPHONE	(+7 911) 920 3868 (Finance Manager) / (+7 812) 708 8522
FAX	(+7 812) 702 4360
VERIFIED EMAIL	ludmila@rgsco.ru / info@rgsco.ru
WEBSITE	www.rgsco.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	09:00-18:00	13:00-14:00
REGISTERED ADDRESS	Sestroretskaya Street 5, Lit A, Room 11-N, Primorskiy District, 197183 Saint Petersburg, Russia

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Yulia Antonovna Ten	Managing Director
	Ms. Lyudmila	Finance Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	15	04.2018
	10	04.2017

FINANCIAL SUMMARY
REVENUE	31/12/2017 (approx.)	31/12/2018 (projected)
	RUBLE 150,000,000	RUBLE 300,000,000
NET PROFIT / (LOSS)	Not given but stated to be profitable
FISCAL YEAR-END	31 December
NOTES	The following financial information applies to subject’s affiliated company, OOO FRESHMART: 31/12/2016 31/12/2015 (in RUBLE) ASSETS Total non-current assets 0 0 Current assets Stock 20,827,000 32,049,000 Trade receivables 226,971,000 112,475,000 Cash equivalents 648,000 5,147,000 Other current assets 991,000 418,000 Total current assets 249,437,000 150,089,000 TOTAL ASSETS 249,437,000 150,089,000 EQUITY & LIABILITIES Share capital 10,000 10,000 Reserve capital 1,050,000 0 Retained earnings 9,286,000 1,050,000 Total Equity 10,346,000 1,060,000 Total long-term liabilities 0 0 Short-term Liabilities Borrowings 361,000 361,000 Accounts payable 211,204,000 148,668,000 Other liabilities 27,526,000 0 Total Short-term Liabilities 239,091,000 149,029,000 TOTAL EQUITY & LIABILITIES 249,437,000 150,089,000 INCOME STATEMENT Revenue 1,608,666,000 447,748,000 Cost of Sales (1,497,964,000) (398,324,000) Gross Profit 110,702,000 49,424,000 Commercial expenses (95,990,000) (35,987,000) Profit(loss) from sales 14,712,000 13,437,000 Other income and expenses Other expenses (3,104,000) (12,125,000) Profit(loss) before taxation 11,608,000 1,312,000 Current income tax (2,322,000) (262,000) Net Profit(loss) 9,286,000 1,050,000

LEGAL STATUS
INCORPORATION	13/01/2015
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1157847004776	Federal Tax Service
OTHER REGISTRATION NO.	INN 7814166230 (Tax Code) / KPP 781401001 / OKPO 76273640 (Statistics Code) / OKTMO 40323000000
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	1,000,000	RUBLE
PAID-UP CAPITAL	AMOUNT	CURRENCY
	1,000,000	RUBLE
LEGAL FORM	Limited Liability Company
BUSINESS HISTORY	The Company was incorporated in Russia on 13 January 2015, however its origins of business activities can be traced back to 1999.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Vugar Gurbanogly Gasymly Nationality: Russian with Azerbaijani origins Tax Code: INN 470403622779 2. Yulia Antonovna Ten Nationality: Russian Tax Code: INN 780221867426	80.00% 20.00%

OPERATION
BANKERS	1. JSC Bank PSCB 42 Shpalernaya Street Saint-Petersburg 191123 Russia Telephone: (+7 812) 332 2626 Fax : (+7 812) 332 2623 2. JSC Alfa-Bank Moskovskiy Avenue 74, Liter A, Apartment 2H Frunzenskiy District Saint Petersburg Telephone: (+7 495) 755 5858 Fax : (+7 495) 755 5858
ACTIVITY CODE (NACE)	NACE 4631 - Wholesale of fruit and vegetables; NACE 4638 - Wholesale of other food, including fish, crustaceans and molluscs;
LINE OF BUSINESS	Trading as importers and wholesalers of fresh fruits and vegetables.
IMPORT FROM	Israel, India, Egypt, Turkey, China, Morocco, Chile, Spain, Portugal and Ecuador.
EXPORT TO	occasionally to Kazakhstan
FACILITIES	Premises comprising administrative offices located at the heading address as well as 2,000 sq. m. storage facilities located at 60, Sofiyskaya St., Suite 1/2, 192241 Saint Petersburg, Russia. Subject also has one branch office in Moscow.
RELATED COMPANIES	Associates 1. OOO FRUTERRA Zaozernaya Street 17, Lit A Saint Petersburg 196084 Russia Est.: 21/03/2014 C.R. No.: OGRN 1147847101654 Tax Code: INN 7810459620 Sole Shareholder: Yulia Antonovna Ten 2. OOO SPEKTR Bol. Sampsonievskiy Avenue 94 Saint Petersburg 194156 Russia Est.: 25/06/2001 C.R. No.: OGRN 1027801539578 Tax Code: INN 7802171902 Shareholders: Elshan Kirzhanov – 33.4% Vugar Gurbanogly Gasymly – 33.3% Takhir Abbasov – 33.3% 3. OOO FRESHMART Sofiyskaya Street 60 Saint Petersburg 192241 Russia Est.: 11/10/2010 C.R. No.: OGRN 1107847336882 Tax Code: INN 7816497929 Managing Director: Vugar Gurbanogly Gasymly Sole Shareholder: Marat Mustafaev 4. DNP Lesnaya Polyana Vyborgskiy District Leningrad Region Russia Est.: 06/10/2010 C.R. No.: OGRN 1104704002435 Tax Code: INN 4704085008 Shareholders: Vugar Gurbanogly Gasymly Gabil Gasanov Akif Khalilov

PAYMENT
CREDIT OPINION	We consider it is acceptable to deal with subject for SMALL amounts.
FINANCIAL STRENGTH	Normal
EMPLOYEE RANGE	ER6

SPECIAL REMARKS
INTERVIEWED	Ms. Lyudmila (Finance Manager).
COMMENTS	You enquired on: RGS LLC. Please note that this name applies to an English translation of the subject’s name. Subject’s correct registered name is as per heading.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.68
UK Pound	1	INR 93.98
Euro	1	INR 81.30
RUB	1	INR 1.08

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	TPT

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)

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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.