MIRA INFORM REPORT

Report No. :	507831
Report Date :	09.05.2018

IDENTIFICATION DETAILS

Name :	OOO FIRMA OPTICS GROUP
Registered Office :	Parkovaya Street 1, Bldg 5, Room 1, Moscow Region, 140081 Lytkarino
Country :	Russia
Financials (as on) :	31.12.2016
Date of Incorporation :	25.06.1998
Com. Reg. No.:	OGRN 1025003176615
Legal Form :	Limited Liability Company
Line of Business :	Wholesale of electrical household appliances
No. of Employees :	22

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 (30.09.2017)	Current Rating (31.12.2017)
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 Firma Optics Group
ADDRESS	Building	Street			Area			PO Box
	N/A	Parkovaya Street 1, Bldg 5, Room 1, 2^nd Floor			Moscow Region			140081 Lytkarino
TEL/FAX	Verified Phones: (+7 498) 711 5571 / Fax: (+7 495) 552 1890
EMAIL/WEBSITE	Email: info@optics-group.ru / Website: www.optics-group.ru
ACTIVITY	NACE 4643 - Wholesale of electrical household appliances;
PRINCIPAL	Sergey Olegovich Ponin					Workforce
	Managing Director					22
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	25/06/1998		OGRN 1025003176615	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			300,000

IDENTIFICATION
CO. NAME	OOO Firma Optics Group
ALSO KNOWN NAME (S)	OOO Firma Optiks Grupp / Optics Group LLC / OOO Optiks Grupp / Optics Group
STREET	Parkovaya Street 1, Bldg 5, Room 1, 2^nd Floor
AREA	Moscow Region
POSTAL ADDRESS	140081 Lytkarino
CITY	Lytkarino
COUNTRY	Russia
TELEPHONE	(+7 498) 711 5571 / (+7 495) 552 3295 / (+7 495) 552 1890 / Mobile (+7 918) 690 2130
FAX	(+7 495) 552 1890
VERIFIED EMAIL	info@optics-group.ru / sales@optics-group.ru
WEBSITE	www.optics-group.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	08:00-17:00	12:00-13:00
REGISTERED ADDRESS	Parkovaya Street 1, Bldg 5, Room 1, Moscow Region, 140081 Lytkarino, Russia
ADDITIONAL ADDRESS	Stepana Stepanova Street 2, Room 1, Moscow Region, 140083 Lytkarino, Russia

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Sergey Olegovich Ponin	Managing Director
	Yulia Eduardovna Sukharchenko	Accounts Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	22	04.2018

FINANCIAL SUMMARY
REVENUE	31/12/2017	31/12/2016
	RUBLE 382,000,000	RUBLE 376,534,000
NET PROFIT / (LOSS)	31/12/2017	31/12/2016
	RUBLE 13,000,0000	RUBLE 11,636,000
PROFIT BEFORE TAX	RUBLE 14,566,000 as of 31/12/2016
STOCK/INVENTORIES	RUBLE 29,000,000 as of May 2018
FISCAL YEAR-END	31 December

LEGAL STATUS
INCORPORATION	25/06/1998
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1025003176615 (issued on: 25/06/1998)	Federal Tax Service
OTHER REGISTRATION NO.	INN 5026009303 (Tax Code) / KPP 502701001 / OKPO 48798705 (Statistics Code) / OKTMO 46741000001
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	300,000	RUBLE
PAID-UP CAPITAL	AMOUNT	CURRENCY
	300,000	RUBLE
LEGAL FORM	Limited Liability Company
BUSINESS HISTORY	The Company was incorporated in Russia on 25 June 1998.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Vladimir Anatolievich Doshlygin Nationality: Russian Tax Code: INN 502600096492 2. Nadezhda Vasilevna Markelova Nationality: Russian Tax Code: INN 505600168167 3. Sergey Olegovich Ponin Nationality: Russian Tax Code: INN 502602669678	40.00% 40.00% 20.00%

OPERATION
BANKERS	PAO Sberbank Sportivnaya Street 1 140080 Lytkarino Moscow Region Russia Telephone: (+7 495) 957 5731 Fax : (+7 495) 747 4758 SWIFT: SABRRUMM
ACTIVITY CODE (NACE)	4643 - Wholesale of electrical household appliances;
LINE OF BUSINESS	Trading as importers and wholesalers of optical glass products as well as medical supplies. Subject closely cooperates with: AO LZOS Parkovaya Street 1, Moscow Region 140080 Lytkarino Russia Telephone: (+7 495) 552 3295 E-Mail: office@lzos.ru Website: www.lzos.ru Chairman: Aleksandr Ignatov Est.: 09/06/1994 C.R. No.: OGRN 1025003178397 A member of AO Shvabe Holding, which is in turn a member of Rostec State Corporation.
IMPORT FROM	Europe, mainly from Germany as well as from Far East Asian countries.
EXPORT TO	CIS countries, mainly to Belarus and Kazakhstan.
TRADE REFERENCES	OptoTech Optikmaschinen GmbH Sandusweg 2-4, 35435 Wettenberg Germany
FACILITIES	Rented premises comprising administrative offices and storage facilities located at the heading address.
RELATED COMPANIES	Associate OOO Polex-Grupp Proezd Proektiruemiy 4296, House 8, Liter A Lyubertsy 140000 Moscow Region Est.: 19/01/2011 C.R. No.: OGRN 1115027000274 Tax Code: INN 5026015258 Managing Director: Kirill Trushin Sole Shareholder: Sergey Olegovich Ponin

FINANCIAL INFORMATION
CURRENCY	RUBLE
PERIOD	31/12/2016	31/12/2015
CURRENT ASSETS	98,886,000	54,204,000
STOCK/INVENTORIES	25,321,000	2,675,000
NON-CURRENT ASSETS	1,520,000	1,605,000
CURRENT LIABILITIES	54,616,000	10,144,000
NON-CURRENT LIABILITIES	0	0
EQUITY	45,790,000	45,666,000
BALANCE TOTAL	100,406,000	55,809,000
REVENUE	376,534,000	237,758,000
NET PROFIT / LOSS	11,636,000	25,341,000
NOTES	Balance sheets as at 31 December 2016 showed : 31/12/2016 31/12/2015 (in RUBLE) ASSETS Non-current assets Fixed assets 1,520,000 1,605,000 Total non-current assets 1,520,000 1,605,000 Current assets Stock 25,321,000 2,675,000 Value added tax on purchased valuables 47,000 5,715,000 Trade receivables 54,538,000 8,116,000 Cash equivalents 18,979,000 37,698,000 Total current assets 98,886,000 54,204,000 TOTAL ASSETS 100,406,000 55,809,000 EQUITY & LIABILITIES Share capital 300,000 300,000 Retained earnings 45,490,000 45,366,000 Total Equity 45,790,000 45,666,000 Total long-term liabilities 0 0 Short-term Liabilities Accounts payable 54,616,000 10,144,000 Total Short-term Liabilities 54,616,000 10,144,000 TOTAL EQUITY & LIABILITIES 100,406,000 55,809,000 INCOME STATEMENT Revenue 376,534,000 237,758,000 Cost of Sales (343,792,000) (194,021,000) Gross Profit 32,742,000 43,737,000 Commercial expenses (17,778,000) (17,313,000) Profit(loss) from sales 14,964,000 26,424,000 Other income and expenses Other income 12,060,000 59,845,000 Other expenses (12,458,000) (54,368,000) Profit(loss) before taxation 14,566,000 31,901,000 Current income tax (2,930,000) (6,560,000) Net Profit(loss) 11,636,000 25,341,000

SPECIAL REMARKS
INTERVIEWED	Yulia Eduardovna Sukharchenko (Chief Accountant).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.08
UK Pound	1	INR 91.14
Euro	1	INR 80.01
RUB	1	INR 1.06

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)

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