3decades

MIRA INFORM REPORT

Report No. :	487224
Report Date :	23.01.2018

IDENTIFICATION DETAILS

Name :	OOO JAY TEA

Registered Office :	Solnechnaya Street 46, Primorskiy Region, Free Port of Vladivostok, 692756 Artem

Country :	Russia

Financials (as on) :	31.12.2016

Date of Incorporation :	02.11.2016

Com. Reg. No.:	OGRN 1162536092465

Legal Form :	Limited Liability Company

Line of Business :	· Processing of tea and coffee · Wholesale of coffee, tea, cocoa and spices

No. of Employees :	50

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate

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

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 Jay Tea

ADDRESS	Building	Street			Area			PO Box
	N/A	Solnechnaya Street 46			Primorskiy Region, Free Port of Vladivostok			692756 Artem
TEL/FAX	Verified Phones: +(7 423) 279 1049 / +(7 423) 279 1050 / Fax: +(7 423) 279 1050
EMAIL/WEBSITE	Email: inforus@jaytea.com / Website: www.jaytea.ru
ACTIVITY	NACE 1083 - Processing of tea and coffee; NACE 4637 - Wholesale of coffee, tea, cocoa and spices;
PRINCIPAL	Tanmay Chakrabarty					Workforce
	Managing Director					50
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	02/11/2016		OGRN 1162536092465	Limited Liability Company			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			10,000

IDENTIFICATION
CO. NAME	OOO Jay Tea
TRADEMARK	Golden Victoria / Indus / Gold Bond / Korol Dzhunglei / Siniy Almaz / Ussuriyskiy Tigr
ALSO KNOWN NAME (S)	OOO Dzhei Ti
STREET	Solnechnaya Street 46
AREA	Primorskiy Region, Free Port of Vladivostok
POSTAL ADDRESS	692756 Artem
CITY	Artem
COUNTRY	Russia
TELEPHONE	+(7 423) 279 1049 / +(7 423) 279 1050
FAX	+(7 423) 279 1050
VERIFIED EMAIL	inforus@jaytea.com
WEBSITE	www.jaytea.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	09:00-18:00	13:00-14:00
REGISTERED ADDRESS	Solnechnaya Street 46, Primorskiy Region, Free Port of Vladivostok, 692756 Artem, Russia

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Tanmay Chakrabarty Nationality: Indian Tax Code: INN 772703707305 (currently on vacation)	Managing Director
	Ms. Natalya	Chief Accountant
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	50	01.2018
	N/A	01.2017

FINANCIAL SUMMARY

NOTES

The subject commenced its production on the 4^th quarter of 2017. Therefore, relevant financial information is not available.

TOTAL INVESTED CAPITAL

RUBLE 175,000,000 as of 31/12/2017

LEGAL STATUS
INCORPORATION	02/11/2016
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1162536092465	Federal Tax Service
OTHER REGISTRATION NO.	INN 2502056057 (Tax Code) / KPP 250201001
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 2 November 2016 and commenced its production in the 4^th quarter of 2017. However, its operations can be traced back to 2002.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	Multitrade Overseas Pte. Ltd City House 13-01, Robinson Road 36 Singapore Est.: 03/07/2008 C.R. No. : 200813024D Parent Company: Madhu Jayanti International Ltd. Jay Complex, 46, B.B. Ganguly Street, Kolkata-700 012 India Tel: +(91 33) 2225 2686 Fax: +*91 33) 2225 7422 E-mail: info@jaytea.com Executive Director: Sumit Shah Est.: 21 April 1950 C.R. No.: CIN U15491WB1950PLC018768 Madhu Jayanti International Limited is India’s leading exporter of value added teas and markets its brands Golden Victoria, Indus and Gold Bond in West Africa specially in Nigeria, Mali, Burkina Faso, Niger, Ghana & Russia with 7 factories spread in 2 countries. The group’s annual revenue from beverages and commodities is over $300 million with over 15 operating locations around the world.	100.00%

OPERATION
BANKERS	PJSC SCB of Primorye Primsotsbank Partizanskiy Avenue 44 Vladivostok, 690106 Russia Telephone: (+7 423) 242 4242 Fax : (+7 423) 242 2076 SWIFT: PRMTRU8V BIK: 040507803
ACTIVITY CODE (NACE)	1083 - Processing of tea and coffee; 4637 - Wholesale of coffee, tea, cocoa and spices;
LINE OF BUSINESS	Processors, importers and wholesalers of tea under the trademark “Golden Victoria”, “Indus” “Gold Bond”, “Korol Dzhunglei”, “Siniy Almaz” and “Ussuriyskiy Tigr”
IMPORT FROM	LIST OF COUNTRIES	PAYMENT TERMS
	India	Bill of exchange
EXPORT TO	Mongolia
FACILITIES	Premises comprising administrative offices, a processing unit and warehousing facilities located at the heading address.
RELATED COMPANIES	Associates in Russia: 1. OOO Jay Foods Nadezhdinskiy District village Volno-Nadezhdinskoye Primorskiy Region 692481 Russia Managing Director: Tanmay Chakrabarty Est.: 25/12/2017 Tax Code: INN 2521015698 Capital: RUBLE 10,000 Sole Shareholder: Multitrade Overseas Pte. Ltd 2. OOO Jay Rus Strelnikova Street 7, Office 904 Vladivostok 690065 Primorskiy Region Russia Managing Director: Tanmay Chakrabarty Est.: 29/06/2002 Tax Code: INN 2538072140 Capital: RUBLE 4,991,020 Sole Shareholder: Multitrade Overseas Pte. Ltd

FINANCIAL INFORMATION (APPLIES TO OOO JAY RUS, SUBJECT’S ASSOCIATE)
CURRENCY	RUBLE
PERIOD	31/12/2016	31/12/2015
CURRENT ASSETS	213,780,000	153,023,000
STOCK/INVENTORIES	181,057,000	120,302,000
NON-CURRENT ASSETS	126,087,000	95,911,000
CURRENT LIABILITIES	111,923,000	60,853,000
NON-CURRENT LIABILITIES	98,469,000	106,942,000
EQUITY	129,475,000	81,138,000
BALANCE TOTAL	339,867,000	248,934,000
REVENUE	919,595,000	753,784,000
NET PROFIT / LOSS	56,758,000	54,551,000
NOTES	The following Balance sheets as at 31 December 2016 applies to subject’s associate, OOO Jay Rus: 31/12/2016 31/12/2015 (in RUBLE) ASSETS Non-current assets Intangible assets 1,000 23,000 Fixed assets 125,327,000 95,769,000 Deferred tax assets 759,000 120,000 Total non-current assets 126,087,000 95,911,000 Current assets Stock 181,057,000 120,302,000 Value added tax on purchased valuables 196,000 972,000 Trade receivables 29,313,000 30,249,000 Cash equivalents 2,982,000 1,483,000 Other current assets 232,000 18,000 Total current assets 213,780,000 153,023,000 TOTAL ASSETS 339,867,000 248,934,000 EQUITY & LIABILITIES Share capital 4,991,000 4,991,000 Retained earnings 124,484,000 76,147,000 Total Equity 129,475,000 81,138,000 Long-term Liabilities Borrowings 94,220,000 88,500,000 Deferred tax liabilities 4,249,000 2,235,000 Other liabilities 0 16,207,000 Total long-term liabilities 98,469,000 106,942,000 Short-term liabilities Borrowed funds 184,000 199,000 Accounts payable 107,956,000 60,055,000 Deferred income tax 1,421,000 599,000 Total Short-term Liabilities 111,923,000 60,853,000 TOTAL EQUITY & LIABILITIES 339,867,000 248,934,000 INCOME STATEMENT Revenue 919,595,000 753,784,000 Cost of Sales 692,239,000 525,145,000 Gross Profit 227,356,000 228,639,000 Commercial expenses 94,595,000 77,906,000 Administrative expenses 10,883,000 8,132,000 Profit(loss) from sales 121,878,000 142,601,000 Other income and expenses Interest income 1,000 18,000 Interest payable 12,666,000 10,685,000 Other income 46,231,000 59,916,000 Other expenses 83,862,000 123,214,000 Profit(loss) before taxation 71,582,000 68,636,000 Change in deferred tax assets 639,000 120,000 Change in deferred tax liabilities 2,014,000 2,235,000 Current income tax 13,449,000 11,970,000 Net Profit(loss) 56,758,000 54,551,000

PAYMENT

CREDIT OPINION

We consider it is acceptable to deal with subject for SMALL amounts. At this rather early stage, international suppliers in large or protracted dealings should seek the comfort of assurances or guarantees from the shareholders. Future development will be watched with interest.

FINANCIAL STRENGTH

Normal

SPECIAL REMARKS

INTERVIEWED

Ms. Natalya (Chief Accountant).

COMMENTS

You enquired on: JAY TEA 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.

The postal address given by you: 692707 is incorrect. Please note that subject’s correct PO Box number is as per heading.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.89
UK Pound	1	INR 88.60
Euro	1	INR 78.12
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)

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.

MIRA INFORM REPORT

SUMMARY

IDENTIFICATION

SENIOR PERSONNEL

FINANCIAL SUMMARY

LEGAL STATUS

OPERATION

FINANCIAL INFORMATION (APPLIES TO OOO JAY RUS, SUBJECT’S ASSOCIATE)

PAYMENT

SPECIAL REMARKS

Unit