MIRA INFORM REPORT

Report No. :	505350
Report Date :	28.04.2018

IDENTIFICATION DETAILS

Name :	OOO INZHINIRINGOVIY TSENTR
Registered Office :	Volokolamskoe Highway 73, Office 143, Pokrovskoye-Streshnevo District, 125424 Moscow
Country :	Russia
Financials (as on) :	31.12.2016
Date of Incorporation :	11.05.2012
Com. Reg. No.:	OGRN 1127746367803
Legal Form :	Limited Liability Company
Line of Business :	· Wholesale of other machinery and equipment · Repair of machinery
No. of Employees :	20 [2018]

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 :	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

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

SUMMARY
COMPANY NAME	OOO Inzhiniringoviy Tsentr
ADDRESS	Building	Street			Area			PO Box
	N/A	Volokolamskoe Highway 73, Office 143			Pokrovskoye-Streshnevo District			125424 Moscow
TEL/FAX	Verified Phones: (+7 495) 663 9192 / (+7 926) 619 6216 / Fax: (+7 495) 663 9192 ext. 222
EMAIL/WEBSITE	Email: info@lcec.ru / lcectest@gmail.com / Website: www.lcec.ru
ACTIVITY	NACE 4669 - Wholesale of other machinery and equipment; NACE 3312 - Repair of machinery;
PRINCIPAL	Anatoliy Alekseevich Artamonov					Workforce
	Managing Director					20
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	11/05/2012		OGRN 1127746367803	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			15,000

IDENTIFICATION
CO. NAME	OOO Inzhiniringoviy Tsentr
ALSO KNOWN NAME (S)	OO ITS / LCEC LTD / Engineering Center Ltd.
STREET	Volokolamskoe Highway 73, Office 143
AREA	Pokrovskoye-Streshnevo District
POSTAL ADDRESS	125424 Moscow
CITY	Moscow
COUNTRY	Russia
TELEPHONE	(+7 495) 663 9192 / Mobile (+7 926) 619 6216 / (+7 495) 617 1824
FAX	(+7 495) 663 9192 ext. 222
VERIFIED EMAIL	info@lcec.ru / lcectest@gmail.com / artamonov@lcec.ru / dkulikov@lcec.ru / egorkin@lcec.ru
WEBSITE	www.lcec.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	09:00-18:00	13:00-14:00
REGISTERED ADDRESS	Volokolamskoe Highway 73, Office 143, Pokrovskoye-Streshnevo District, 125424 Moscow, Russia
FORMER ADDRESS	Pohodnyi proezd, building 14, Business Center Office 202, Moscow 125373, Russia

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Anatoliy Alekseevich Artamonov	Managing Director
	Dmitriy Aleksandrovich Kulikov Anna Viktorovna Aleksandr Sergeevich Egorkin	Executive Director Chief Accountant Sales Manager / Test Engineer
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	20	04.2018

FINANCIAL SUMMARY
REVENUE	31/12/2017	31/12/2016
	RUBLE 140,000,000	RUBLE 116,528,000
NET PROFIT / (LOSS)	31/12/2017	31/12/2016
	RUBLE 2,500,000	RUBLE 3,338,000
PROFIT BEFORE TAX	RUBLE 4,173,000 as of 31/12/2016
STOCK/INVENTORIES	RUBLE 14,087,000 as of 31/12/2016
FISCAL YEAR-END	31 December

LEGAL STATUS
INCORPORATION	11/05/2012
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1127746367803	Federal Tax Service
OTHER REGISTRATION NO.	INN 7733802150 (Tax Code) / KPP 773301001 / OKPO 9779019 (Statistics Code) / OKTMO 45373000000
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	15,000	RUBLE
PAID-UP CAPITAL	AMOUNT	CURRENCY
	15,000	RUBLE
LEGAL FORM	Limited Liability Company
BUSINESS HISTORY	The company was incorporated in Russia on 11 May 2012, however its origins of business activities can be traced back to 2006.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Anatoliy Alekseevich Artamonov Nationality: Russian Tax Code: INN 773316221051 2. Natalya Anatolievna Spirina Nationality: Russian Tax Code: INN 771383605250	60.00% 40.00%

OPERATION
BANKERS	1. AO Alfa-Bank Kalanchevskaya Street 27 Moscow 107078 Russia Telephone: (+7 495) 620 9191 SWIFT: ALFARUMM 2. AO KB Citibank Bolshaya Nikitskaya Street 15 Moscow 125009 Telephone: (+7 495) 775 7575 Fax : (+7 495) 775 7575 SWIFT: CITIRUMX Subject also has an account with other local banks.
ACTIVITY CODE (NACE)	4669 - Wholesale of other machinery and equipment; 3312 - Repair of machinery;
LINE OF BUSINESS	Trading as importers and suppliers of test equipment such as vibration test equipment and electro-dynamic shakers. Subject also offers the following services: - Complex engineering solutions for the creation of testing facilities; - Equipment for mechanical, climatic and acoustic impacts testing; - Equipment for strength, resource and frequency testing; - Control systems and data collection; - Software products for functional and 3D modeling; - Warranty and post warranty maintenance, modernization and repair of existing equipment Technical assistance, information support and training. Subject’s clients include: TsAGI, RKK "Energia", Central Design Bureau "Progress", Sarovskie Laboratorii, ZAO Interkonsul, Bauman, MAI and KGTU-KAI
IMPORT FROM	China, USA, Hong Kong, Belgium, Taiwan and Germany.
EXPORT TO	Subject does not engage in exporting activities.
TRADE REFERENCES	1. Crystal Instruments 2370 Owen Street Santa Clara, CA 95054 USA 2. ETS Solutions (China) LTD No. 66 Tong Dun Road, Suzhou National New Hi-tech Industrial Park, Suzhou, Jiangsu China 3. Shenzhen WANCE Testing Machine Co., Ltd Fuxinfa Industrial Park, Liuxiandong, Xili, Nanshan District, Shenzhen 518055 China
FACILITIES	Rented premises comprising administrative offices located at the heading address.
RELATED COMPANIES	Associates 1. OOO Inzhiniringoviy Center Mitinskaya Street 15 Moscow 125222 Russia Est.: 30/01/2013 C.R. No.: OGRN 1137746061970 Tax Code: INN 7733829842 Sole Shareholder: Anatoliy Alekseevich Artamonov 2. OOO Ispytatelnye Sistemy Stromynko Street 14, Block 1 Moscow 107076 Russia Est.: 19/08/2013 C.R. No.: OGRN 1137746742055 Tax Code: INN 7718943854 Sole Shareholder: Anatoliy Alekseevich Artamonov Former associate: OOO Sertifitsirovanniy Inzhiniringoviy Tsentr proezd Pokhodniy 14 Moscow 125373 Russia Est.: 19/07/2006 C.R. No.: OGRN 1067746831976 Tax Code: INN 7733574129 Shareholders: Anatoliy Karmazin – 40% Anatoliy Alekseevich Artamonov – 25% Boris Logunov – 10%

FINANCIAL INFORMATION
CURRENCY	RUBLE
PERIOD	31/12/2016	31/12/2015
CURRENT ASSETS	71,960,000	75,597,000
STOCK/INVENTORIES	14,087,000	18,154,000
NON-CURRENT ASSETS	2,969,000	1,746,000
CURRENT LIABILITIES	65,957,000	68,708,000
NON-CURRENT LIABILITIES	138,000	3,138,000
EQUITY	8,834,000	5,496,000
BALANCE TOTAL	74,929,000	77,342,000
REVENUE	116,528,000	246,066,000
NET PROFIT / LOSS	3,338,000	2,350,000
NOTES	Balance sheets as at 31 December 2016 showed : 31/12/2016 31/12/2015 (in RUBLE) ASSETS Non-current assets Fixed assets 2,797,000 1,574,000 Deferred tax assets 172,000 172,000 Total non-current assets 2,969,000 1,746,000 Current assets Stock 14,087,000 18,154,000 Trade receivables 7,339,000 36,475,000 Financial investment 30,000,000 - Cash and cash equivalents 20,345,000 20,779,000 Other current assets 189,000 189,000 Total current assets 71,960,000 75,597,000 TOTAL ASSETS 74,929,000 77,342,000 EQUITY & LIABILITIES Share capital 15,000 15,000 Retained earnings 8,819,000 5,481,000 Total Equity 8,834,000 5,496,000 Long-term liabilities Borrowings 0 3,000,000 Deferred tax liabilities 138,000 138,000 Total long-term liabilities 138,000 3,138,000 Short-term liabilities Accounts payable 63,092,000 68,011,000 Total Short-term liabilities 65,957,000 68,708,000 TOTAL EQUITY & LIABILITIES 74,929,000 77,342,000 INCOME STATEMENT Revenue 116,528,000 246,066,000 Cost of Sales (72,209,000) (208,417,000) Gross Profit 44,319,000 37,649,000 Commercial expenses (209,000) 3,412,000 Administrative expenses (40,766,000) (18,569,000) Profit(loss) from sales 3,344,000 15,668,000 Other income and expenses Interest income 1,974,000 0 Interest payable (166,000) 0 Other income 25,476,000 6,193,000 Other expenses (26,455,000) (18,923,000) Profit(loss) before taxation 4,173,000 2,938,000 Current income tax (835,000) (588,000) Net Profit(loss) 3,338,000 2,350,000

SPECIAL REMARKS
INTERVIEWED	Aleksandr Sergeevich Egorkin (Sales Manager / Test Engineer).
COMMENTS	You enquired on: LCEC LTD. Please note that this name applies to subject’s also known as name. Subject’s registered name is as per heading. The address which you provided: 14, Pokhodny Proezd Business Center, office 202, 125373 Moscow applies to subject’s former address. Please note that subject’s current administrative address is as per heading.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.78
UK Pound	1	INR 92.89
Euro	1	INR 80.74
RUB	1	INR 1.07

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

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	SYL

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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