MIRA INFORM REPORT

Report No. :	507177
Report Date :	08.05.2018

IDENTIFICATION DETAILS

Name :	VEEM TRADING S.R.O.
Registered Office :	Dobrovske´ho 675/4, 612 00 Brno
Country :	Czech Republic
Financials (as on) :	31.12.2016
Date of Incorporation :	15.09.2003
Com. Reg. No.:	C 44115
Legal Form :	Private Limited Company
Line of Business :	· Other specialized wholesale · Sale of professional vacuum technique: vacuum handling systems, \ vacuum sucking disks, clamping plates. · Sale of protective systems for machine tools.
No. of Employees :	4 [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+	Low Risk	Business dealings permissible with low risk of default

Status :	Good
Payment Behaviour :	Regular
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 (30.09.2017)	Current Rating (31.12.2017)
Czech Republic	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

Company identification
	VEEM TRADING, S.R.O.		Telephone	00420/ 545 222 322
	Dobrovske´ho 675/4		Telefax	00420/ 545 222 701
	612 00 Brno		E-Mail	nvykourilova@veemtrading.cz
	Czech Republic		Web	www.veemtrading.cz
	Crefo Nr.	9210235992	Registration:	Krajsky´ soud v Brneˇ
	Statistical Nr.	26901901	Registration Nr.	C 44115
	Tax Nr.	CZ26901901	Status	activ

Economic situation

Business connection	Business connections are permissible	(21)
Terms of payment	mostly no complaints, but occasional delays / reminders	(31)

Basic Information

Legal form

Private limited company

Founded

15/09/2003 as Private limited company

Registration

15/09/2003, Krajsk´y Soud V Brnˇ E, C 44115

Statistical Nr.: 26901901

Tax Nr.: CZ26901901

Registered Names

Valid From	Trade Name(S)	Valid Until
15/09/2003	VEEM TRADING, S.R.O.

Owners and Capital

Crefo Nr.	Name / Address / Status	From	Share
Shareholders
9210188398	Milan Vykouřil (birth date 16/02/1965)	25/07/2014	200,000 CZK
	Zeln ý trh 320/21, 602 00 Brno Czech Republic
	Phone Nr.: 00420/ 603 422 178
	E-mail: mvykouril@veemtrading.cz
Total capital			200,000 CZK

Registered Capital
Date	Currency	Value
15/09/2003	CZK	200,000
25/07/2014	CZK	200,000

Management

Crefo Nr.	Name / Address / Status	Since	Power of attorney
Management
9210188398	Milan Vykouˇril (birth date 16/02/1965) Executive Manager Zeln´y trh 320/21, 602 00 Brno Czech Republic Phone Nr.: 00420/ 603 422 178 E-mail: mvykouril@veemtrading.cz	15/09/2003

Company Addresses
Valid From	Address	Valid Until
25/07/2014	Dobrovsk ´eho 675/4, 612 00 Brno, Czech Republic
15/09/2003	Bendlova 1, 613 00 Brno, Czech Republic	09/06/2009
09/06/2009	Lozíbky 1053/17, 614 00 Brno, Czech Republic	25/07/2014

Business Activities

Main activity	Nace
Other specialized wholesale	46.70
Additional activities	Nace

Sale of professional vacuum technique: vacuum handling systems, \ vacuum sucking disks, clamping plates.

Sale of protective systems for machine tools.

Economic Data

Turnover and Employees

Date	Turnover	Employees
2005	actual sales 16,214,000 CZK
2006	actual sales 16,745,000 CZK
2007	actual sales 20,560,000 CZK	2 employees
2008	actual sales 19,954,000 CZK	2 employees
2009	actual sales 14,239,000 CZK	2 employees
2010	actual sales 14,968,000 CZK
2011	actual sales 17,911,000 CZK
2012	actual sales 17,250,000 CZK
2013	actual sales 17,423,000 CZK
2014	actual sales 21,601,000 CZK	2 employees
2015	actual sales 18,886,000 CZK	2 employees
2016	actual sales 17,299,000 CZK	2 employees
2017	actual sales 19,000,000 CZK	2 employees
2018		4 employees

Import / Export
	Import	Export
Percentage	90 %	20 %
Countries	Germany, Italy, Switzerland, Great Britain	Slovakia, India

Properties

None

Supplementary data

Remarks

All the sources of negative data accessible to public (insolvency registers, databases of debtors of health insurance institutions, commercial bulletin, collection database of Creditreform and others) are currently monitored.

Further participations: Milan Vykouˇril

- 2M Agency, s.r.o., IˇC 26939860,

executive head, share 100%

- Ecobeton Czech Republic s.r.o., IˇC 06595189

share 25%

Banks
Code	Bank name / Address	Account Nr.
0300	Ceskoslovensk ´a obchodní banka, a. s.	188054464/0300
0300	Ceskoslovensk ´a obchodní banka, a. s.	188056021/0300
0600	MONETA Money Bank, a.s.	166086166/0600

Main indices
Payment experience and credit opinion
Terms of payment	mostly no complaints, but occasional delays / reminders	(31)
Business connection	Business connections are permissible	(21)

Business Development
Company development	Positive company development	(20)
Order situation	Satisfactory order situation	(30)

Events

No negative events registered.

Per 07/05/2018 the company was examined in a Central register of executions and no were found.

Balances

Balance

Dec 31, 2016 The enclosed balance of 2016 from business register, ..

Dec 31, 2015 The enclosed of 2015 from business register, ..

Dec 31, 2014 The enclosed balance of 2014 from business register, ..

Dec 31, 2012 The enclosed balance of 2012 from business register, ..

Name	31/12/2016 1000 CZK balance	31/12/2015 1000 CZK	31/12/2014 1000 CZK balance	31/12/2012 1000 CZK balance
TOTAL ASSETS	13,211	10,573	8,174	9,163
Receivables for subscriptions	0		0
Fixed assets	3,541	105	412	1,130
Intangible fixed assets			0
Incorporation expenses
Research and development
Software
Other valuable rights
Goodwill
Other intangible fixed assets
Intangible fixed assets under construction
Advance payments for intangible fixed assets
Tangible fixed assets	1,501	105	412	1,130
Lands
Constructions
Equipment		105		1,130
Perennial corps
Breeding and draught animals
Other tangible fixed assets
Tangible fixed assets under construction		0
Advance payments for tangible fixed assets
Adjustment to acquired assets
Long-term financial assets	2,040		0
Shares - controlled organizations

Name	31/12/2016 1000 CZK balance	31/12/2015 1000 CZK	31/12/2014 1000 CZK balance	31/12/2012 1000 CZK balance
Shares in accounting units with substantial influ- ence
Other securities and shares
Loans - controlled and controlling organizations, substantial influence
Other financial investments
Financial investments acquired
Advance payments for long-term financial assets
Current assets	9,637	10,412	7,697	7,970
Inventory	620	506	449	765
Materials
Work in progress and semi-products
Finished products
Animals
Merchandise		506		765
Advance payments for inventory
Trade receivables
Receivables	4,858
Long-term receivables			0
Trade receivables
Receivables - controlled and controlling organiza- tions
Receivables from accounting units with substan- tial influence
Receivables from partners
Long-term deposits given
Estimated receivable
Other receivables
Deferred tax receivable
Short-term receivables		5,332	5,643	3,101
Trade receivables		2,470		2,845
Receivables - controlled and controlling organiza- tions
Receivables from accounting units with substan- tial influence
Receivables from partners		2,443
Receivables from social security and health insur- ance
Due from state - tax receivable				56
Short-term deposits given		282		84
Estimated receivable				0
Other receivables		137		116
Short-term financial assets		4,574	1,605	4,104

Name	31/12/2016 1000 CZK balance	31/12/2015 1000 CZK	31/12/2014 1000 CZK balance	31/12/2012 1000 CZK balance
Cash		207		174
Bank accounts		4,367		3,930
Short-term securities and ownership interests
Short-term financial assets acquired
Cash and bank accounts	4,159
Accruals	33	56	65	63
Deferred expenses		51		63
Complex deferred costs
Deferred income		5
TOTAL LIABILITIES	13,211	10,573	8,174	9,163
Equity	8,166	6,602	5,091	3,681
Registered capital	200	200	200	200
Registered capital
Ownership interests (-)
Changes of registered capital ( +/- )
Share premium and capital funds			0
Share premium
Other capital funds
Differences from revaluation of assets and liabili- ties ( +/- )
Diferences from revaluation in tranformation of companies (+/-)
Diferences from tranformation of companies ( +/- )
The differences from valuation on transformation of business corporations
Funds from earnings			0	20
Other reserve funds
Statutory and other funds
Profit / loss - previous years (+/-)	6,402	4,891	3,994	2,687
Retained earnings from previous years
Accumulated losses from previous years (-)
Other profit / loss - previous years (+/-)
Profit / loss - current year (+/-)	1,564	1,511	897	774
Decided on advance for payment of a profit share (-)			0
Liabilities	4,694	3,685	2,928	5,267
Reserves			0
Reserves under special statutory regulations
Reserves for pension and similar payables
Income tax reserves
Other reserves
Payables	4,694

Name	31/12/2016 1000 CZK balance	31/12/2015 1000 CZK	31/12/2014 1000 CZK balance	31/12/2012 1000 CZK balance
Long-term payables	372		0	85
Trade payables
Payables - controlled and controlling organizations
Payables to accounting units with substantial in- fluence
Payables to partners
Long-term advances received
Issues bonds
Long-term notes payables
Estimated payables
Other payables
Deferred tax liability
Short-term payables	4,322	3,685	2,928	4,856
Trade payables
Payables - controlled and controlling organizations
Payables to accounting units with substantial in- fluence
Payables to partners
Payroll
Payables to social securities and health insurance
Due from state - tax liabilities and subsidies
Short-term deposits received
Issues bonds
Estimated payables
Other payables
Bank loans and financial accommodations			0	326
Liabilities to credit institutions
Payables to banks
Short-term accommodations
Accruals	351	286	155	215
Accrued expenses
Deferred revenues

Profit and loss accounts

Dec 31, 2016 The enclosed profit/loss account of 2016 from business register, ..

Dec 31, 2015 The enclosed profit/loss account of 2015 from business register, ..

Dec 31, 2014 The enclosed profit/loss account of 2014 from business register, ..

Dec 31, 2012 The enclosed profit/loss account of 2012 from business register, ..

Name	31/12/2016 1000 CZK profit/loss account	31/12/2015 1000 CZK profit/loss account	31/12/2014 1000 CZK profit/loss account	31/12/2012 1000 CZK profit/loss account
Turnover	17,299	18,886	21,601	17,250
Revenues from own products and services	491
Revenues from sold goods	16,808	18,424	21,112	17,250
Production consumption	15,222
Expenses on sold goods	10,263	11,453	14,630	11,150
Sale margin		6,971	6,482	6,100
Production		462	489	1,015
Consumption of material and energy	282
Services	4,677
Added value		2,365	2,172	1,793
Change in inventory of own products (+/-)	0
Capitalization (-)	0
Production consumption		5,068	4,799	5,322
Personnel expenses	563	556	522	496
Wages and salaries	373
Social security, healt insurance and other ex- penses	190
Social security expenses and health insurance	127
Other expenses	63
Value adjustments in the operational area	353
Value adjustments of intagible and tangible fixed assets	353
Value adjustments of intagible and tangible fixed assets - permanent	353	156	499	488
Value adjustments of intagible and tangible fixed assets - temporary
Stock value adjustments
Receivable value adjustments
Revenues from disposals of fixed assets and materials		40	0	181
Other operating revenues	651
Other operating expenses		222	67	79
Revenues from disposals of fixed assets	519
Revenues from disposals of materials
Net book value of disposed fixed assets and materials		22	0
Other operating revenues	132
Other operating expenses	89
Net book value of sold fixed assets
Net book value of sold material
Taxes and fees	18	19	18	20
Change in operating reserves and adjustments and complex deferred costs ( + / - )		-40	40

Name	31/12/2016 1000 CZK profit/loss account	31/12/2015 1000 CZK profit/loss account	31/12/2014 1000 CZK profit/loss account	31/12/2012 1000 CZK profit/loss account
Reserves and complex deferred costs
Other operating revenues		114	51	5
Other operating expenses	71
Operating profit / loss	1,723	1,584	1,077	896
Revenues from long-term financial assets - shares
Revenues from shares - controlled and controlling organizations
Other revenues from shares
Expenses associated with financial assets		0
Costs spent for sold shares
Revenues from other long-term financial as- sets
Revenues from other long-term financial assets - controlled and controlling organizations
Revenues from other long-term financial assets
Costs related to other fixed financial assets
Interest revenues	189
Interest revenues - controlled and controlling or- ganizations	189
Other interest revenues
Value adjustments and reserves in the finan- cial area
Interest expenses	26	0	1	44
Interest revenues		188	20	6
Interest expenses - controlled and controlling or- ganizations
Other interest expenses	26
Other financial revenues		179	358	336
Other financial reveneus	94
Other financial expenses		150	350	349
Other financial expenses	71
Profit / loss from financial operations ( trans- actions ) (+/-)	186	217	27	49
Income tax on ordinary income		290	207	171
Profit / loss before tax (+/-)	1,909	1,801	1,104	945
Income tax	346
Income tax - due tax	346
Income tax - tax deferred (+/-)
Operating profit / loss ordinary activity		1,511	897	774
Profit/Loss after tax ( +/- )	1,563
Transfer profit ( loss ) to partners (+/-)
Profit / loss of current accounting period (+/-)	1,563	1,511	897	774

Name	31/12/2016 1000 CZK profit/loss account	31/12/2015 1000 CZK profit/loss account	31/12/2014 1000 CZK profit/loss account	31/12/2012 1000 CZK profit/loss account
Net turnover for the accounting period	18,233
Operating cash flow
Investment cash flow
Financial cash flow
Receivables after due date total	597	972
Receivables more than 360 days after due date
Receivables more than 180 days after due date
Receivables more than 90 days after due date
Receivables more than 60 days after due date
Receivables more than 30 days after due date
Receivables less than 30 days after due date
Liabilities after due date total	295	838
Liabilities more than 360 days after due date
Liabilities more than 180 days after due date
Liabilities more than 90 days after due date
Liabilities more than 60 days after due date
Liabilities more than 30 days after due date
Liabilities less than 30 days after due date

Financial ratios

Name	31/12/2016	31/12/2015	31/12/2014	31/12/2012
Return on total assets ROA (in %)	14.45	17.03	13.51	10.31
Return on equity ROE (in %)	23.38	27.28	21.69	25.67
Return on sales ROS (in %)	11.04	9.54	5.11	5.48
Turnover of receivables (in days)		47.74		60.20
Turnover of liabilities (in days)
Turnover of inventories (days)	13.08	9.78	7.59	16.19
Net working capital (in ths. CZK)	5315.00	6727.00	4769.00	3114.00
Ratio of accounts payable to accounts receivable (in %)			192.73
Ratio of profit/loss to tangible assets (in%)	20.47	0.56	1.91	6.55
Current ratio
Quick ratio		2.69	2.48	1.48
Cash ratio
Debt ratio I (in %)	38.19	37.56	37.72	59.83
Debt ratio II (in %)	35.53	34.85	35.82	57.48

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.11
UK Pound	1	INR 90.85
Euro	1	INR 80.12
CZK	1	INR 3.12

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.