MIRA INFORM REPORT

Report No. :	490729
Report Date :	13.02.2018

IDENTIFICATION DETAILS

Name :	OOO RUZISET
Registered Office :	Sofiyskaya Street 60, Liter AYA, Apartment 13-H, Office 604-1, Frunzenskiy District, 192241 Saint Petersburg
Country :	Russia
Financials (as on) :	31.12.2017
Date of Incorporation :	28.07.2015
Com. Reg. No.:	OGRN 1157847259140
Legal Form :	Limited Liability Company
Line of Business :	· Wholesale of fruit and vegetables · Non-specialised wholesale trade · Retail sale of fruit and vegetables in specialised stores
No. of Employees :	8 [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 :	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	B1	B1

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 RUZISET
ADDRESS	Building	Street			Area			PO Box
	N/A	Sofiyskaya Street 60, Liter AYA, Apartment 13-H, Office 604-1			Frunzenskiy District			192241 Saint Petersburg
TEL/FAX	Verified Phones: (+7 812) 309 5874 / (+7 812) 309 5837 / Fax: (+7 812) 309 5837
EMAIL/WEBSITE	Email: olga@ruzifruit.ru / glavbuh@appleway.su / Website: www.ruzifruit.ru
ACTIVITY	NACE 4631 - Wholesale of fruit and vegetables; NACE 4690 - Non-specialised wholesale trade; NACE 4721 - Retail sale of fruit and vegetables in specialised stores;
PRINCIPAL	Abulfat Gaman Ogly Achmedov					Workforce
	Managing Director					8
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	28/07/2015		OGRN 1157847259140	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			20,000

IDENTIFICATION
CO. NAME	OOO RUZISET
ALSO KNOWN NAME (S)	RUZISET / Ruziset Ltd
STREET	Sofiyskaya Street 60, Liter AYA, Apartment 13-H, Office 604-1
AREA	Frunzenskiy District
POSTAL ADDRESS	192241 Saint Petersburg
CITY	Saint Petersburg
COUNTRY	Russia
TELEPHONE	(+7 812) 309 5874 / (+7 812) 309 5837 / Mobiles: +(7 921) 419 3393 (Olga Efankina) / +(7 921) 765 3983
FAX	(+7 812) 309 5837
VERIFIED EMAIL	olga@ruzifruit.ru / glavbuh@appleway.su / office@ruzifruit.ru
WEBSITE	www.ruzifruit.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	09:00-18:00	13:00-14:00
REGISTERED ADDRESS	Sofiyskaya Street 60, Liter AYA, Apartment 13-H, Office 604-1, Frunzenskiy District, 192241 Saint Petersburg, Russia
FORMER ADDRESS	Until 2017, subject was located at: Bolshoy Sampsonievskiy Avenue 55, 2-H, Office 3, Saint Petersburg 194044, Russia

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Abulfat Gaman Ogly Achmedov	Managing Director
	Ms. Tatyana Olga Efankina Alexander Michalich	Chief Accountant Import Manager Assistant Broker
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	8	01.2018

FINANCIAL SUMMARY
SALES TURNOVER	RUBLE 228,075,340 as of 31/12/2017 *
NET PROFIT / (LOSS)	RUBLE 1,102,000 as of 31/12/2017 *
PROFIT BEFORE TAX	RUBLE 1,381,000 as of 31/12/2017 *
STOCK/INVENTORIES	RUBLE 127,252,683 as of 13/02/2017 *
TOTAL VALUE OF CURRENT CONTRACTS	RUBLE 195,242,788 as of 13/02/2017 *
NOTEST	* 6 months in operations (July – December)

LEGAL STATUS
INCORPORATION	28/07/2015
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1157847259140	Federal Tax Service
OTHER REGISTRATION NO.	INN 7802533479 (Tax Code) / KPP 781601001 / OKPO 23176262 (Statistics Code) / OKTMO 40314000000
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	20,000	RUBLE
PAID-UP CAPITAL	AMOUNT	CURRENCY
	20,000	RUBLE
LEGAL FORM	Limited Liability Company
BUSINESS HISTORY	The Company was incorporated in Russia on 28 July 2015 and started trading on 1 July 2017. Initially, subject’s sole shareholder was Abulfat Gaman Ogly Achmedov. In 2017, subject changed its shareholding structure to the present.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Abulfat Gaman Ogly Achmedov Nationality: Russian Tax Code: INN 470413810250 2. Elbrus Gadir Ogly Mamedov Nationality: Russian Tax Code: INN 470417340090	50.00% 50.00%

OPERATION
BANKERS	PAO Sberbank Severo-Zapadny Head Office Saint Petersburg Russia Telephone: (+7 495) 957 5731 Fax : (+7 495) 747 4758
ACTIVITY CODE (NACE)	4631 - Wholesale of fruit and vegetables; 4690 - Non-specialised wholesale trade; 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	South Africa, China, Moldova, Egypt, Turkey, Peru, Chile, Argentina, Israel, Morocco, Pakistan, Iran, Ecuador, Costa-Rica and Mexico.
EXPORT TO	Subject does not engage in exporting activities.
TRADE REFERENCES	1. Botou Lihong Fruit Co., Ltd Shaer Village, Waliwang Town Botou City Hebei Province China 2. Core Fruit (PTY) Ltd 63 Main Road Paarl 7646 South Africa 3. Ekonomik Sistem Gida Tarim Ve Orman Urun Nakliye Gemicilik San. Tic. Ltd.Sti Mersin Tarsus Organize Sanayi Bolgesi Gelisme Alani Rasim Dokur Bulvari No: 21 Akdeniz – Mersin Turkey
FACILITIES	Rented premises comprising administrative offices (30 sq. m.) and wholesale warehouse (942 sq. m.) located at the heading address.
RELATED COMPANIES	A Member of RUZIFRUIT Group of Companies, which also includes the following companies: 1. OOO AppleWay Pereulok Libavskiy 5, Liter 3 Saint Petersburg 190020 Russia Est.: 16/04/2015 C.R. No.: OGRN 1157847137128 Tax Code: INN 7839032486 Sole Shareholder: Elbrus Gadir Ogly Mamedov Revenue: RUBLE 4,643,357,000 (2016) Net Profit: RUBLE 2,311,000 (2016) 2. OOO NordFruit Sevastyanova Street 23, Block 12, Liter F Apartment 12 Saint Petersburg 196655 Russia Est.: 25/09/2013 C.R. No.: OGRN 1137847359077 Tax Code: INN 7811561049 Shareholders: Elbrus Gadir Ogly Mamedov – 50% Dmitriy Evgenievich Pavlenko – 25% Maksim Fedorovich Karpov – 25%

FINANCIAL INFORMATION
CURRENCY	RUBLE
NOTES	Balance sheets as at 31 December 2017 * showed: 31/12/2017 * (in RUBLE) ASSETS Non-current assets Fixed assets 2,068,000 Total non-current assets 2,068,000 Current assets Stock 129,824,000 Value added tax on purchased valuables 24,075,000 Trade receivables 42,767,000 Cash & cash equivalents 3,877,000 Total current assets 200,543,000 Total Assets 202,611,000 EQUITY & LIABILITIES Equity Share Capital 20,000 Retained earnings 1,102,000 Total equity 1,122,000 Total long-term liabilities 0 Short-term liabilities Borrowings 3,136,000 Accounts payable 198,353,000 Total short-term liabilities 201,489,000 Total equity & liabilities 202,611,000 INCOME STATEMENTS Revenue 194,168,000 Cost of sales (179,694,000) Gross profit 14,474,000 Commercial expenses (13,966,000) Profit (loss) from sales 508,000 Interest payable (136,000) Other income 3,122,000 Other expenses (2,113,000) Profit(loss) before taxation 1,381,000 Current income tax (278,000) Net profit (loss) 1,102,000 * 6 months in operations (July-December).

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

SPECIAL REMARKS
INTERVIEWED	Olga Efankina (Import Manager Assistant).
COMMENTS	You enquired on: RUZISET LLС. 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: 55 BOLSHOJ SAMPSONIEVSKIJ 2-H, OFFI SAINT PETERSBURG 194044 applies to subject’s former address. Subject’s current administrative address is as per heading.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.28
UK Pound	1	INR 89.02
Euro	1	INR 78.93
RUB	1	INR 1.11

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

INFORMATION DETAILS

Analysis Done by :	PRI
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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