MIRA INFORM REPORT

Report No. :	515951
Report Date :	23.06.2018

IDENTIFICATION DETAILS

Name :	OOO INTERFARMA
Registered Office :	Torkhovskiy Proezd 8, Tulskaya Oblast, 300004 Tula
Country :	Russia
Date of Incorporation :	14.06.2000
Com. Reg. No.:	OGRN 1027100687448
Legal Form :	Limited Liability Company
Line of Business :	Manufacture of basic pharmaceutical products
No. of Employees :	2 (plans to increase up to 40 staff by October 2018)

RATING & COMMENTS

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

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Yet to restart activities
Payment Behaviour :	Unknown
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 (31.12.2017)	Current Rating (01.04.2018)
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 INTERFARMA
ADDRESS	Building	Street			Area			PO Box
	N/A	Torkhovskiy Proezd 8			Tulskaya Oblast			300004 Tula
TEL/FAX	Verified Phones: (+7 4872) 410 239 / Fax: (+7 4872) 410 775
EMAIL/WEBSITE	Email: bhupesh@mail.ru / Website: N/A
ACTIVITY	NACE 2110 - Manufacture of basic pharmaceutical products;
PRINCIPAL	Bhupesh Singh					Workforce
	Managing Director					2
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	14/06/2000		OGRN 1027100687448	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			5,000,000

IDENTIFICATION
CO. NAME	OOO INTERFARMA
ALSO KNOWN NAME (S)	LLC INTERFARMA / INTER PHARMA LLC
STREET	Torkhovskiy Proezd 8
AREA	Tulskaya Oblast
POSTAL ADDRESS	300004 Tula
CITY	Tula
COUNTRY	Russia
TELEPHONE	(+7 4872) 410 239 / (+7 4872) 412 422
FAX	(+7 4872) 410 775
VERIFIED EMAIL	bhupesh@mail.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	09:00-18:00	13:00-14:00
REGISTERED ADDRESS	Torkhovskiy Proezd 8 Tulskaya Oblast 300004 Tula Russia

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Bhupesh Singh	Managing Director
	Valentina Vasilevna Severina	Chief Accountant
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	2 (plans to increase up to 40 staff by October 2018)	06.2018

FINANCIAL SUMMARY
NOTES	As the Buyer has not yet commenced its production, relevant financial information is not available. However, the subject interviewed offered the following information : Non-Current Assets : RUBLE 21,662,000 – 2016 Stock : RUBLE 1,512,000 – 2016 Trade Receivables : RUBLE 9,076,000 – 2016 Cash & cash equivalents : RUBLE 46,000 – 2016 Current Assets : RUBLE 35,444,000 – 2016 Borrowings & Loans : RUBLE 43,139,000 – 2016 Trade Payables : RUBLE 8,852,000 – 2016
FISCAL YEAR-END	31 December.

LEGAL STATUS
INCORPORATION	14/06/2000
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1027100687448 (issued on: 13/11/2002)	Federal Tax Service
OTHER REGISTRATION NO.	INN 7105022163 (Tax Code) / KPP 710501001 / OKPO 52523115 (Statistics Code) / OKTMO 70701000001
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	5,000,000	RUBLE
PAID-UP CAPITAL	AMOUNT	CURRENCY
	5,000,000	RUBLE
BUSINESS HISTORY	Subject was incorporated in Russia on 14 June 2000 and was engaged in trading of pharmaceutical products until 2005. Subject is currently engaged in setting up of its plant and plans to manufacture basic pharmaceutical products by October 2018.
LEGAL FORM	Limited Liability Company
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Bhupesh Singh Nationality: Indian Tax Code: INN 710508687692 2. Kumar O. Sudeep Nationality: Indian Tax Code: INN 710502069273	60.00% 40.00%

OPERATION
BANKERS	PAO SBERBANK Krestovozdvizhenskaya Ploschad 1 Tula 300041 Russia Telephone: (+7 4872) 328 752 Fax : (+7 4872) 327 031 Subject previously had an account with: OOO Commercial Indo Bank Marksistskaya Street 16 Moscow 109147 Telephone: (+7 495) 735 4335 Fax : (+7 495) 735 4334
ACTIVITY CODE (NACE)	2110 - Manufacture of basic pharmaceutical products;
LINE OF BUSINESS	Subject will be engaged in manufacturing of basic pharmaceutical products. Until 2005, subject was engaged in trading as importers and wholesalers of pharmaceuticals.
IMPORT FROM	equipment and components from India and UK.
EXPORT TO	Subject currently does engage in exporting activities.
FACILITIES	Owned premises comprising administrative offices, a manufacturing unit with storage facilities located at the heading address.
RELATED COMPANIES	Associates 1. OOO Shagun International Frezernaya Street 1-YA, 2/1, Building 41 Moscow 109202 Russia Est.: 27/07/2015 C.R. No.: OGRN 1157746685018 Tax Code: INN 7721334644 Sole Shareholder: Bhupesh Singh 2. OOO LEONARDO Tverskaya Street 12, Building 8 Moscow 125009 Russia Est.: 14/06/2013 C.R. No.: OGRN 1137746506974 Tax Code: INN 7710941735 Managing Director: Bhupesh Singh Sole Shareholder: Kumar O. Sudeep 3. OOO Center TestProfi Bulvar Kronshtadskiy 7a, Building 1 Moscow 125212 Russia Est.: 05/12/2016 C.R. No.: OGRN 5167746407880 Tax Code: INN 7743184640 Shareholders: Bhupesh Singh – 50% Ella Zhbanova – 50% 4. OOO Torgoviy Dom PHARMPARTNER Torkhovskiy Proezd 8 Tula 300004 Russia Est.: 30/10/2000 C.R. No.: OGRN 1037100321521 Tax Code: INN 7104030411 Sole Shareholder: Kumar O. Sudeep 5. OOO FK PHARMPARTNER Torkhovskiy Proezd 8 Tula 300004 Russia Est.: 04/08/2009 C.R. No.: OGRN 1097154018015 Tax Code: INN 7105507376 Sole Shareholder: Kumar O. Sudeep

PAYMENT RECORDS
CREDIT OPINION	No trade experience of payments is available.
CREDIT LIMIT RECOMMENDATION	As the subject has not yet commenced its production and has no financial or payment track record, we recommend dealing on fully secured terms.

SPECIAL REMARKS
INTERVIEWED	Valentina Vasilevna Severina (Chief Accountant).
COMMENTS	You enquired on: INTER PHARMA 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.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.77
UK Pound	1	INR 89.96
Euro	1	INR 78.86
RUB	1	INR 1.08

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)

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.