MIRA INFORM REPORT

Report No. :	508519
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	OOO VNESHMULTIGRAPH
Formerly known as :	ZAO PKAO VNESHMULTIGRAPH
Registered Office :	Dmitrovskoye Highway 100, Vostochnoye Degunino District, 127247 Moscow
Country :	Russia
Financials (as on) :	31.12.2016
Date of Incorporation :	01.11.1994
Com. Reg. No.:	OGRN 1157746637817
Legal Form :	Limited Liability Company
Line of Business :	· Wholesale of other machinery and equipment · Agents involved in the sale of machinery, industrial equipment, ships and aircraft
No. of Employees :	120 (VMG Group) [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 :	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)
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 Vneshmultigraph
ADDRESS	Building	Street			Area			PO Box
	N/A	Dmitrovskoye Highway 100, 6^th Floor			Vostochnoye Degunino District			127247 Moscow
TEL/FAX	Verified Phones: (+7 495) 411 6118 / Fax: (+7 495) 780 0183
EMAIL/WEBSITE	Email: info@vmg.ru / Website: www.vmg.ru
ACTIVITY	NACE 4669 - Wholesale of other machinery and equipment; NACE 4614 - Agents involved in the sale of machinery, industrial equipment, ships and aircraft;
PRINCIPAL	Dmitriy Aleksandrovich Remizov					Workforce
	Managing Director					120
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	01/11/1994		OGRN 1157746637817	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	RUBLE (RUB)			20,500

IDENTIFICATION
CO. NAME	OOO Vneshmultigraph
ALSO KNOWN NAME (S)	Vneshmultigraph Co., Ltd
FORMER NAME	ZAO PKAO Vneshmultigraph
STREET	Dmitrovskoye Highway 100, 6^th Floor
AREA	Vostochnoye Degunino District
POSTAL ADDRESS	127247 Moscow
CITY	Moscow
COUNTRY	Russia
TELEPHONE	(+7 495) 411 6118 / (+7 495) 780 0189 / Mobiles (+7 926) 157 2090
FAX	(+7 495) 780 0183
VERIFIED EMAIL	info@vmg.ru / scan@vmg.ru / nadegda@vmg.ru / bogatova@vmg.ru / av@vmg.ru
WEBSITE	www.vmg.ru
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Mon-Fri	08:30-19:00	13:00-14:00
REGISTERED ADDRESS	Dmitrovskoye Highway 100, Vostochnoye Degunino District, 127247 Moscow, Russia

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Dmitriy Aleksandrovich Remizov	Managing Director
	Andrey Zuikov Tatiana Ptashnikova	Director at OOO VMG-Trade Logistics Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	120 (VMG Group)	05.2018

FINANCIAL SUMMARY
REVENUE	31/12/2016	31/12/2015
	RUBLE 68,883,000	RUBLE 43,807,000
NET PROFIT / (LOSS)	31/12/2016	31/12/2015
	RUBLE 6,417,000	RUBLE 3,639,000
PROFIT BEFORE TAX	RUBLE 8,046,000 as of 31/12/2016
STOCK/INVENTORIES	RUBLE 2,379,000 as of 31/12/2016
NOTES	The following financial information applies VMG Group of companies (latest available): Sales Turnover: RUBLE 712,000,000 – 2016 RUBLE 600,000,000 – 2015
FISCAL YEAR-END	31 December

LEGAL STATUS
INCORPORATION	01/11/1994
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	OGRN 1157746637817 (frmly 1027739743382)	Federal Tax Service
OTHER REGISTRATION NO.	INN 7713401030 (Tax Code, frmly 7710097060) / KPP 771301001 / OKPO 198166 (Statistics Code) / OKTMO 45337000000
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	20,500	RUBLE
PAID-UP CAPITAL	AMOUNT	CURRENCY
	20,500	RUBLE
LEGAL FORM	Limited Liability Company
BUSINESS HISTORY	The Company was incorporated in Russia on 1 November 1994 as a closed joint stock company under the name ZAO PKAO Vneshmultigraph with the following shareholding structure: Aleksandr Viktorovich Remizov (87.1%) and Anna Leonovna Levina (12.9%). On 15 July 2015, subject was converted into a Limited Liability Company under the present name and shareholding structure. Subject’s origins of business activities can be traced back to 1989.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Marina Sergeevna Remizova Nationality: Russian Tax Code: INN 771581592934 2. Dmitriy Aleksandrovich Remizov Nationality: Russian Tax Code: INN 771530353751 3. Pavel Aleksandrovich Remizov Nationality: Russian Tax Code: INN 771537003107	34.00% 33.00% 33.00%

OPERATION
ACTIVITY CODE (NACE)	4669 - Wholesale of other machinery and equipment; 4614 - Agents involved in the sale of machinery, industrial equipment, ships and aircraft;
LINE OF BUSINESS	Trading as importers and wholesalers of web offset printing machines, digital printing and post press finishing systems. Subject closely cooperates with: 1. Machouse Ltd Degtyarevskaya Street 48/109 Kiev Ukraine 2. ODO Transtim Belskogo Street 6 Minsk 220121 Belarus
IMPORT FROM	India, Italy, USA and China.
EXPORT TO	Belarus, Kazakhstan, Uzbekistan and Ukraine.
TRADE REFERENCES	1. Manugraph India Ltd. Sidhwa House, 2nd Floor, N. A. Sawant Marg, Colaba, Mumbai India 2. Bobst Firenze S.r.l. Via F.lli Cervi, 76, 50013 CAMPI BISENZIO - Localita CAPALLE (FIRENZE) Italy
FACILITIES	Leased premises comprising administrative offices located at the heading address as well as a printing house with integrated storage facilities located in Podolsk, Moscow Region. Subject also has one representative office in Almaty, Kazakhstan.
RELATED COMPANIES	Subject is a member of VMG Group of companies, which also includes the following companies: Associates 1. OOO VMG-Trade Komsomolskaya Street 1, Room 2 Podolsk 142100 Moscow Region Russia Est.: 24/06/2005 C.R. No.: OGRN 1055014737502 Tax Code: INN 5036066501 Shareholders: Dmitriy Aleksandrovich Remizov – 35% Pavel Aleksandrovich Remizov – 35% Marina Sergeevna Remizova – 20% Andrey Nikolaevich Zuikov – 10% 2. OOO VMG-Print Dmitrovskoye Highway 100 Moscow 127247 Russia Est.: 13/07/2005 C.R. No.: OGRN 1057747458680 Tax Code: INN 7714608492 Shareholders: Aleksandr Viktorovich Remizov – 34% Dmitriy Aleksandrovich Remizov – 33% Pavel Aleksandrovich Remizov – 33% 3. OOO VMG-Servis Dmitrovskoye Highway 100 Moscow 127247 Russia Est.: 06/10/2016 C.R. No.: OGRN 5167746175636 Tax Code: INN 7713422167 Shareholders: Dmitriy Aleksandrovich Remizov – 50% Pavel Aleksandrovich Remizov – 50% 4. OOO ARTE Horoshevskoye Highway 38, Bldg 2 Moscow 123007 Russia Est.: 04/10/2012 C.R. No.: OGRN 1127747013316 Tax Code: INN 7714886034 Shareholders: Dmitriy Aleksandrovich Remizov – 36.93% Pavel Aleksandrovich Remizov – 36.93% Marina Sergeevna Remizova – 22.23% Aleksey Vsevolodovich Khotskiy – 3.92% 5. OOO KLEN Dmitrovskoye Highway 100 Moscow 127247 Russia Est.: 09/09/2013 C.R. No.: OGRN 1137746819440 Tax Code: INN 7713775780 Shareholders: Dmitriy Aleksandrovich Remizov – 38.67% Pavel Aleksandrovich Remizov – 38.67% Marina Sergeevna Remizova – 22.67% 6. TOO Vneshmultigraph Raiymbeka Avenue 212/2, Office 207 Almaty 050034 Kazakhstan Est.: 06/10/2003 BIN No.: 030940001977 7. Gidue Rus (VMG Lebel) Dmitrovskoye Highway 100 Moscow 127247 Russia

FINANCIAL INFORMATION
CURRENCY	RUBLE
PERIOD	31/12/2016	31/12/2015
CURRENT ASSETS	100,026,000	35,226,000
STOCK/INVENTORIES	2,379,000	2,828,000
NON-CURRENT ASSETS	17,893,000	20,934,000
CURRENT LIABILITIES	85,006,000	29,643,000
NON-CURRENT LIABILITIES	0	0
EQUITY	32,913,000	26,517,000
BALANCE TOTAL	117,919,000	56,160,000
REVENUE	68,883,000	43,807,000
NET PROFIT / LOSS	6,417,000	3,639,000
NOTES	Balance sheets as at 31 December 2016 showed : 31/12/2016 31/12/2015 (in RUBLE) ASSETS Non-current assets Fixed assets 17,892,000 20,933,000 Financial investments 1,000 1,000 Total non-current assets 17,893,000 20,934,000 Current assets Stock 2,379,000 2,828,000 Trade receivables 74,504,000 27,101,000 Cash equivalents 23,143,000 5,297,000 Total current assets 100,026,000 35,226,000 TOTAL ASSETS 117,919,000 56,160,000 EQUITY & LIABILITIES Total Equity 32,913,000 26,517,000 Total long-term liabilities 0 0 Short-term Liabilities Accounts payable 85,006,000 29,643,000 Total Short-term Liabilities 85,006,000 29,643,000 TOTAL EQUITY & LIABILITIES 117,919,000 56,160,000 INCOME STATEMENT Revenue 68,883,000 43,807,000 Cost of Sales (63,215,000) (40,160,000) Gross Profit 5,668,000 3,647,000 Profit(loss) from sales 5,668,000 3,647,000 Other income and expenses Other income 10,561,000 10,154,000 Other expenses (8,183,000) (10,160,000) Profit(loss) before taxation 8,046,000 3,641,000 Current income tax (1,629,000) (2,000) Net Profit(loss) 6,417,000 3,639,000

SPECIAL REMARKS
INTERVIEWED	Subject’s employees.
COMMENTS	The name which you provided: VNESHMULTI GRAPH CO. LTD. is misspelt and applies to subject’s 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 67.22
UK Pound	1	INR 90.88
Euro	1	INR 80.09
RUB	1	INR 1.09

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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