MIRA INFORM REPORT

Report No. :	490506
Report Date :	08.02.2018

IDENTIFICATION DETAILS

Name :	OOO FRUKTOVAYA KOMPANIYA VVF
Registered Office :	Nepokorennyh Avenue 63, Liter K46, Kalininskiy District, 195067 Saint Petersburg
Country :	Russia
Financials (as on) :	31.12.2016
Date of Incorporation :	26.02.2013
Com. Reg. No.:	OGRN 1137847085826
Legal Form :	Limited Liability Company
Line of Business :	Trading as importers and wholesalers of fresh fruits and vegetables.
No. of Employees :	80

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 (30.06.2017)	Current Rating (30.09.2017)
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 FRUKTOVAYA KOMPANIYA VVF
ADDRESS	Building	Street			Area			PO Box
	Business Centre Lakhta, Office 210	Optikov Street 4, Block 2			Primorskiy District			197374 Saint Petersburg
TEL/FAX	Verified Phones: (+7 812) 499 4708 / +(7 812) 499 4720 / +(7 499) 551 8897 / Fax: +(7 812) 499 4720
EMAIL/WEBSITE	Email: alexey@wwf-co.ru / Website: www.wwf-co.ru
ACTIVITY	NACE 4631 - Wholesale of fruit and vegetables; NACE 4721 - Retail sale of fruit and vegetables in specialised stores;
PRINCIPAL	Viktor Dmitrievich Akatsevich					Workforce
	Managing Director					80
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	26/02/2013		OGRN 1137847085826	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			10,000
OPINION ON MAX CREDIT	CURRENCY			AMOUNT
	RUBLE (RUB)			32,000,000

IDENTIFICATION
CO. NAME	OOO FRUKTOVAYA KOMPANIYA VVF
ENQUIRED NAME	WWF CO LLC (WORLD WIDE FRUIT)
TRADEMARK	WWF
ALSO KNOWN NAME (S)	OOO FK VVF / WWF CO LLC / WORLD WIDE FRUIT
BUILDING	Business Centre Lakhta, Office 210
STREET	Optikov Street 4, Block 2
AREA	Primorskiy District
POSTAL ADDRESS	197374 Saint Petersburg
CITY	Saint Petersburg
COUNTRY	Russia
TELEPHONE	(+7 812) 499 4708 / +(7 812) 499 4720 / +(7 499) 551 8897
FAX	+(7 812) 499 4720
VERIFIED EMAIL	info@wwf-co.ru / alexey@wwf-co.ru
WEBSITE	www.wwf-co.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	10:00-18:00	13:00-14:00
REGISTERED ADDRESS	Nepokorennyh Avenue 63, Liter K46, Kalininskiy District, 195067 Saint Petersburg, Russia.

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Viktor Dmitrievich Akatsevich	Managing Director
	Irina Leonova Mr Aleksey	Accountant Administrative Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	80	01.2018

FINANCIAL SUMMARY
REVENUE	31/12/2016	31/12/2015
	RUBLE 2,334,528,000	RUBLE 1,487,994,000
NET PROFIT / (LOSS)	31/12/2016	31/12/2015
	RUBLE 24,262,000	RUBLE -7,765,000
PROFIT BEFORE TAX	RUBLE 36,549,000 as of 31/12/2016
STOCK/INVENTORIES	RUBLE 42,905,000 as of 31/12/2016

LEGAL STATUS
INCORPORATION	26/02/2013
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1137847085826	Federal Tax Service
OTHER REGISTRATION NO.	INN 7804503688 (Tax Code) / KPP 780401001 / OKPO 50893181 (Statistics Code) / OKTMO 40332000000
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	10,000	RUBLE
PAID-UP CAPITAL	AMOUNT	CURRENCY
	10,000	RUBLE
LEGAL FORM	Limited Liability Company
BUSINESS HISTORY	The Company was incorporated in Russia on 26 February 2013.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Viktor Dmitrievich Akatsevich Nationality: Russian Tax Code: INN 780421845109 2. Evgeniy Aleksandrovich Ugolev Nationality: Russian Tax Code: INN 772614557866	60.00% 40.00%

OPERATION
BANKERS	JSC BBR BANK Kharkovskaya Street 3-5, Liter B Saint Petersburg Russia Telephone: +(7 812) 447 9894 Fax : +(7 812) 447 9895
ACTIVITY CODE (NACE)	4631 - Wholesale of fruit and vegetables; 4721 - Retail sale of fruit and vegetables in specialised stores;
LINE OF BUSINESS	Trading as importers and wholesalers of fresh fruits and vegetables.
IMPORT FROM	Argentina, South Africa, China, Turkey, Pakistan, Morocco and India.
EXPORT TO	Subject does not engage in exporting activities.
FACILITIES	Rented premises comprising administrative offices located at the heading address as well as storage facilities locate elsewhere in Saint Petersburg.
RELATED COMPANIES	1. OOO WWF-Fresh Engelsa Avenue 27, Liter T, Apartment 69N Saint Petersburg 194156 Russia Est.: 06/10/2015 Tax Code: INN 7804289956 Shareholders: Viktor Dmitrievich Akatsevich – 60% Evgeniy Aleksandrovich Ugolev – 40% 2. OOO FruitOptTorg Sudakova Street 11, Block 2 Saint Petersburg Russia Est.: 02/12/2003 Tax Code: INN 7807057390 Sole Shareholder: Viktor Dmitrievich Akatsevich 3. OOO AgroFresh Krasnaya Street 61a Dinskoy District Krasnodar Region Russia Est.: 05/10/2012 Tax Code: INN 7814550510 Sole Shareholder: Viktor Dmitrievich Akatsevich 4. OOO FruitSnab Nepokorennyh Avenue 63, Liter K46 Saint Petersburg Russia Est.: 08/04/2013 Tax Code: INN 7842494709 Sole Shareholder: Viktor Dmitrievich Akatsevich 5. OOO TorgServis Nepokorennyh Avenue 63, Liter K46 Saint Petersburg Russia Est.: 12/10/2012 Tax Code: INN 7804495250 Sole Shareholder: Viktor Dmitrievich Akatsevich 6. OOO WWF Torg Nepokorennyh Avenue 63, Liter K46 Saint Petersburg Russia Est.: 29/03/2016 Tax Code: INN 7804562274 Shareholders: Viktor Dmitrievich Akatsevich – 60% Evgeniy Aleksandrovich Ugolev – 40% 7. OOO Baku Fruit Nepokorennyh Avenue 63, Liter K46 Saint Petersburg Russia Est.: 26/04/2017 Tax Code: INN 7804596957 Shareholders: Viktor Dmitrievich Akatsevich – 60% Evgeniy Aleksandrovich Ugolev – 40% 8. OOO Profil Dudenevskoe Highway 3 Bogorodsk Russia Est.: 21/04/2015 Tax Code: INN 5245026380 Shareholders: Viktor Dmitrievich Akatsevich – 33.33% Mikhail Yurievich Tikhonov – 33.33% Dmitriy Nikolaevich Volkov – 33.33%

FINANCIAL INFORMATION
CURRENCY	RUBLE
PERIOD	31/12/2016	31/12/2015
CURRENT ASSETS	865,644,000	553,049,000
STOCK/INVENTORIES	42,905,000	45,781,000
NON-CURRENT ASSETS	377,000	278,000
CURRENT LIABILITIES	725,892,000	560,789,000
NON-CURRENT LIABILITIES	110,034,000	0
EQUITY	30,095,000	-7,462,000
BALANCE TOTAL	866,021,000	553,327,000
REVENUE	2,334,528,000	1,487,994,000
NET PROFIT / LOSS	24,262,000	-7,765,000
NOTES	Balance sheets as at 31 December 2016 showed : 31/12/2016 31/12/2015 (in RUBLE) ASSETS Non-current assets Intangible assets 20,000 0 Fixed assets 357,000 278,000 Total non-current assets 377,000 278,000 Current assets Stock 42,905,000 45,781,000 Value added tax on purchased valuables 0 84,000 Trade receivables 626,954,000 491,967,000 Financial Investments 188,152,000 0 Cash equivalents 7,632,000 15,217,000 Total current assets 865,644,000 553,049,000 TOTAL ASSETS 866,021,000 553,327,000 EQUITY & LIABILITIES Share capital 10,000 10,000 Retained earnings 30,085,000 -7,472,000 Total Equity 30,095,000 -7,462,000 Total long-term liabilities 110,034,000 0 Short-term Liabilities Borrowings 93,183,000 14,239,000 Accounts payable 632,709,000 546,550,000 Total Short-term Liabilities 725,892,000 560,789,000 TOTAL EQUITY & LIABILITIES 866,021,000 553,327,000 INCOME STATEMENT Revenue 2,334,528,000 1,487,994,000 Cost of Sales 1,998,404,000 1,360,622,000 Gross Profit 336,124,000 127,372,000 Commercial expenses 304,217,000 124,722,000 Profit(loss) from sales 31,907,000 2,650,000 Other income and expenses Interest income 2,776,000 0 Interest payable 9,886,000 544,000 Other income 40,506,000 18,334,000 Other expenses 28,754,000 28,143,000 Profit(loss) before taxation 60,428,000 52,777,000 Change in deferred tax assets 36,549,000 -7,703,000 Change in deferred tax liabilities 34,000 0 Current income tax 12,253,000 62,000 Net Profit(loss) 24,262,000 -7,765,000

PAYMENT RECORDS
CREDIT OPINION	We consider it is acceptable to deal with subject for LARGE amounts.
CREDIT LIMIT RECOMMENDATION	CURRENCY	AMOUNT
	RUBLE	32,000,000
FINANCIAL STRENGTH	Normal
EMPLOYEE RANGE	ER4

SPECIAL REMARKS
INTERVIEWED	Irina Leonova (Accountant).
COMMENTS	You enquired on: WWF CO LLC (WORLD WIDE FRUIT). Please note that this name applies to an English translation of the subject’s name. Subject’s correct registered name is as per heading. The address which you provided: Engelsa Pr-Kt Dom 27 Liter T, Pomeshchenie 69 N, 194156 Sankt Petersburg G applies to subject’s affiliated company, OOO WWF-Fresh. Please note that subject’s administrative address is as per heading.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.14
UK Pound	1	INR 89.50
Euro	1	INR 79.43
RUB	1	INR 1.11

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

INFORMATION DETAILS

Analysis Done by :	NIY
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)

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.