MIRA INFORM REPORT

Report No. :	491588
Report Date :	15.02.2018

IDENTIFICATION DETAILS

Name :	OOO PROMAKS
Registered Office :	Novostroek Street 29, Liter A, Apartment 8-N, Kirovskiy District, 198152 Saint Petersburg
Country :	Russia
Financials (as on) :	31.12.2016
Date of Incorporation :	01.11.2008
Com. Reg. No.:	OGRN 1089848032999
Legal Form :	Limited Liability Company
Line of Business :	· Wholesale of fruit and vegetables · Non-specialised wholesale of food, beverages and tobacco;
No. of Employees :	10 [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 (30.06.2017)	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

SUMMARY
COMPANY NAME	OOO Promaks
ADDRESS	Building	Street			Area			PO Box
	N/A	Novostroek Street 29, Liter A, Apartment 8-N			Kirovskiy District			198152 Saint Petersburg
TEL/FAX	Verified Phones: +(7 812) 495 4043 / (+7 921) 904 2134 / (+7 964) 395 1318 / Fax: +(7 812) 495 4043
EMAIL/WEBSITE	Email: torg@promaxltd.ru / Website: www.promaxltd.ru
ACTIVITY	NACE 4631 - Wholesale of fruit and vegetables; NACE 4639 - Non-specialised wholesale of food, beverages and tobacco;
PRINCIPAL	Yurii Aleksandrovich Palianov					Workforce
	Managing Director					10
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	01/11/2008		OGRN 1089848032999	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			10,000

IDENTIFICATION
CO. NAME	OOO Promaks
ENQUIRED NAME	PROMAX CO LTD
ALSO KNOWN NAME (S)	OOO ProMaks / OOO ProMax / PROMAX CO LTD
STREET	Novostroek Street 29, Liter A, Apartment 8-N
AREA	Kirovskiy District
POSTAL ADDRESS	198152 Saint Petersburg
CITY	Saint Petersburg
COUNTRY	Russia
TELEPHONE	+(7 812) 495 4043 / (+7 921) 904 2134 / (+7 964) 395 1318 (Viktoria Olegovna Palianova) / (+7 981) 743 3226
FAX	+(7 812) 495 4043
VERIFIED EMAIL	torg@promaxltd.ru / sale@promaxltd.ru
WEBSITE	www.promaxltd.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	09:00-18:00	13:00-14:00
REGISTERED ADDRESS	Novostroek Street 29, Liter A, Apartment 8-N, Kirovskiy District, 198152 Saint Petersburg, Russia
FORMER ADDRESS	Kariernaya Street 1, village Taitsy, Leningrad Region 198255

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Yurii Aleksandrovich Palianov	Managing Director
	Olga Pakhnotskaya	Sales Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	10	01.2018

FINANCIAL SUMMARY
REVENUE	31/12/2017	31/12/2016
	RUBLE 10,000,000	RUBLE 2,728,000
NET PROFIT / (LOSS)	31/12/2017	31/12/2016
	RUBLE 210,000	RUBLE 87,000
PROFIT BEFORE TAX	RUBLE 111,000 as of 31/12/2016
STOCK/INVENTORIES	RUBLE 3,002,000 as of 31/12/2016

LEGAL STATUS
INCORPORATION	01/11/2008
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1089848032999	Federal Tax Service
OTHER REGISTRATION NO.	INN 7805476959 (Tax Code) / KPP 780501001 / OKPO 89034109 (Statistics Code) / OKTMO 40338000000
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 1 November 2008.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	Yurii Aleksandrovich Palianov Nationality: Russian Tax Code: INN 780508596087	100.00%

OPERATION
BANKERS	AO Raiffeisenbank Severnaya Stolitsa Branch Nab. Reki Moyki 36 Saint Petersburg Russia Telephone: (+7 812) 334 4343 Acc. No.: 40702-840-0-0300-0-000509 SWIFT: RZBMRUMM
ACTIVITY CODE (NACE)	NACE 4631 - Wholesale of fruit and vegetables; NACE 4639 - Non-specialised wholesale of food, beverages and tobacco;
LINE OF BUSINESS	Trading as importers and wholesalers of fresh vegetables, mainly potatoes, onions, carrots and beet.
IMPORT FROM	Belarus (90%), Moldova and Pakistan.
EXPORT TO	Subject does not engage in exporting activities.
FACILITIES	Premises comprising administrative offices located at the heading address as well as rented storage facilities with office premises located at Kariernaya Street 1, village Taitsy, Leningrad Region 198255.
RELATED COMPANIES	Associate As a matter of interest Mr. Yurii Palianov’s wife Mrs Viktoria Olegovna Palianova has interest in the following company: OOO ProdSnab Stachek Avenue 23, Liter A, Apartment 5-N Saint Petersburg 198095 Russia Est.: 20/01/2010 C.R. No.: OGRN 1109847007600 Tax Code: INN 7805509675 Managing Director and Sole Shareholder: Viktoria Olegovna Palianova Nationality: Russian Tax Code: INN 781905325857

FINANCIAL INFORMATION
CURRENCY	RUBLE
PERIOD	31/12/2016	31/12/2015
CURRENT ASSETS	3,671,000	3,635,000
STOCK/INVENTORIES	3,002,000	1,753,000
NON-CURRENT ASSETS	14,000	19,000
CURRENT LIABILITIES	1,746,000	1,802,000
EQUITY	1,939,000	1,852,000
BALANCE TOTAL	3,685,000	3,654,000
REVENUE	2,728,000	21,909,000
NET PROFIT / LOSS	87,000	344,000
NOTES	Balance sheets as at 31 December 2016 showed : 31/12/2016 31/12/2015 (in RUBLE) ASSETS Non-current assets Intangible assets 5,000 6,000 Fixed assets 9,000 13,000 Total non-current assets 14,000 19,000 Current assets Stock 3,002,000 1,753,000 Trade receivables 655,000 1,805,000 Cash equivalents 14,000 77,000 Total current assets 3,671,000 3,635,000 TOTAL ASSETS 3,685,000 3,654,000 EQUITY & LIABILITIES Equity Share capital 10,000 10,000 Retained earnings 1,929,000 1,842,000 Total Equity 1,939,000 1,852,000 Total long-term liabilities 0 0 Short-term Liabilities Borrowings 505,000 824,000 Accounts payable 1,241,000 978,000 Total Short-term Liabilities 1,746,000 1,802,000 TOTAL EQUITY & LIABILITIES 3,685,000 3,654,000 INCOME STATEMENT Revenue 2,728,000 21,909,000 Cost of Sales 934,000 20,762,000 Gross Profit 1,794,000 1,147,000 Commercial expenses 1,540,000 795,000 Profit(loss) from sales 254,000 352,000 Other income and expenses Interest payable 125,000 199,000 Other income 0 277,000 Other expenses 18,000 - Profit(loss) before taxation 111,000 430,000 Current income tax 22,000 86,000 Net Profit(loss) 87,000 344,000

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

SPECIAL REMARKS
INTERVIEWED	Viktoria Olegovna Palianova (Managing Director at OOO ProdSnab)
COMMENTS	You enquired on: PROMAX CO LTD. 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 64.13
UK Pound	1	INR 89.17
Euro	1	INR 79.39
RUB	1	INR 1.13

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

INFORMATION DETAILS

Analysis Done by :	NIY
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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.