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Report Date : |
04.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZAO KORPORATSIYA GLORIYA DZHINS |
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|
|
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Registered Office : |
prosp Stachki
184, 344090 g
Rostov-na-Donu |
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Country : |
Russia |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
26.03.1997 |
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Com. Reg. No.: |
1026104032283 |
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Legal Form : |
Closed and joint-stock companies (ZAO) |
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Line of Business : |
· Manufacturer of other wearing apparel and accessories Wholesaler of clothing and footwear Retail sale of clothing Financial leasing |
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|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Russia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Russia ECONOMIC OVERVIEW
Russia has
undergone significant changes since the collapse of the Soviet Union, moving from
a globally-isolated, centrally-planned economy to a more market-based and
globally-integrated economy. Economic reforms in the 1990s privatized most
industry, with notable exceptions in the energy and defense-related sectors.
The protection of property rights is still weak and the private sector remains
subject to heavy state interference. In 2011, Russia became the world's leading
oil producer, surpassing Saudi Arabia; Russia is the second-largest producer of
natural gas; Russia holds the world's largest natural gas reserves, the
second-largest coal reserves, and the eighth-largest crude oil reserves. Russia
is also a top exporter of metals such as steel and primary aluminum. Russia's
reliance on commodity exports makes it vulnerable to boom and bust cycles that
follow the volatile swings in global prices. The government since 2007 has
embarked on an ambitious program to reduce this dependency and build up the
country's high technology sectors, but with few visible results so far. The
economy had averaged 7% growth in the decade following the 1998 Russian
financial crisis, resulting in a doubling of real disposable incomes and the
emergence of a middle class. The Russian economy, however, was one of the
hardest hit by the 2008-09 global economic crisis as oil prices plummeted and
the foreign credits that Russian banks and firms relied on dried up. According
to the World Bank the government's anti-crisis package in 2008-09 amounted to
roughly 6.7% of GDP. The economic decline bottomed out in mid-2009 and the
economy began to grow again in the third quarter of 2009. High oil prices
buoyed Russian growth in 2011-12 and helped Russia reduce the budget deficit
inherited from 2008-09. Russia has reduced unemployment to a record low and has
lowered inflation below double digit rates. Russia joined the World Trade
Organization in 2012, which will reduce trade barriers in Russia for foreign
goods and services and help open foreign markets to Russian goods and services.
At the same time, Russia has sought to cement economic ties with countries in
the former Soviet space through a Customs Union with Belarus and Kazakhstan,
and, in the next several years, through the creation of a new Russia-led
economic bloc called the Eurasian Economic Union. Russia has had difficulty
attracting foreign direct investment and has experienced large capital outflows
in the past several years, leading to official programs to improve Russia's
international rankings for its investment climate. Russia's adoption of a new
oil-price-based fiscal rule in 2012 and a more flexible exchange rate policy
have improved its ability to deal with external shocks, including volatile oil
prices. Russia's long-term challenges also include a shrinking workforce,
rampant corruption, and underinvestment in infrastructure.
|
Source : CIA |
ZAO
"Korporatsiya "Gloriya Dzhins"
prosp Stachki 184,
344090 g Rostov-na-Donu
Tel: 78632618901
Telefax: 78632618902
E-Mail: info@gloria-jeans.ru
Web: www.gloria-jeans.ru
|
Company
development |
Positive company development. |
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Business course |
Good order situation. |
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Terms of payment |
As far as know, punctually. |
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Business
connection |
Business connection and credit are
permissible. |
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Legal form |
Closed and joint-stock companies (ZAO) |
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Established on |
26/03/1997 - Closed and joint-stock
companies (ZAO) |
||
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Registered on |
10/12/2002, Inspektsiya MNS Rossii po
Pervomayskomu rayonu g.Rostova-na-Donu, RegNr.: 1026104032283 |
||||
|
Registered
capital |
|
RUB |
43 087 409,- |
|
|
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Owner |
OAO
"Gloriya Dzhins" |
% |
100 |
|
|
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Management |
Marina Sergeevna
Pavlova |
||||
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Sole Executive
Body |
Mariya
Vladimirovna Ostrovskaya |
||
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General data |
Main activity: |
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Full name: |
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Name in foreign
language: |
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Short name: |
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Residence
address: |
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Address of the
company premises: |
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Company produces clothes under “Gloria
Jeans” brand name. |
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Other activities |
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: |
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Manufacture of other wearing apparel and
accessories n.e.c. |
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Manufacture of other wearing apparel and
accessories n.e.c. |
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Wholesale of clothing and footwear |
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Wholesale of clothing and footwear |
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Wholesale of clothing and footwear |
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Retail sale of clothing |
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Retail sale of clothing |
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Retail sale of clothing |
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Retail sale of clothing |
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Other retail sale in specialized stores |
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Financial leasing |
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Other financial intermediation n.e.c. |
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Buying and selling of own real estate |
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Buying and selling of own real estate |
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Letting of own property |
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Renting of other machinery and equipment
n.e.c. |
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Advertising |
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Annual turnover |
31/12/2006 |
Enterprise turnover |
RUB |
3 580 351 000,- |
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|
31/12/2007 |
Enterprise turnover |
RUB |
4 155 372 000,- |
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|
31/12/2008 |
Enterprise turnover |
RUB |
5 118 311 000,- |
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|
31/12/2009 |
Enterprise turnover |
RUB |
6 196 771 000,- |
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|
|
31/12/2010 |
Enterprise turnover |
RUB |
8 859 247 000,- |
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|
|
31/12/2011 |
Enterprise turnover |
RUB |
15 075 688 000,- |
|
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|
31/12/2012 |
Enterprise turnover |
RUB |
22 181 034 000,- |
|
|
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Remarks |
ZAO “Korporatsiya “Gloriya Dzhins” is the part
of group of companies “Gloria Jeans”. According to research, the members of
this group are also: |
|||||
|
A. The enclosed balance of 2011 is
originated from official source, no data available about authentication. (31.12.2011
- 1000 RUB) - Warning! The figures stated in the balance sheet may contain
error(s). |
|
Balance |
A 31.12.2011 |
B 31.12.2012 |
|
1. ASSETS |
|
|
|
I. FIXED ASSETS |
|
|
|
Intangible assets |
234 |
217 |
|
The results of research and development |
0 |
0 |
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Intangible research assets |
0 |
0 |
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Tangible research assets |
0 |
0 |
|
Fixed assets |
1 075 411 |
1 647 283 |
|
Profitable investments in tangible assets |
0 |
0 |
|
Financial investments |
1 779 306 |
1 892 608 |
|
Deferred tax assets |
13 433 |
50 006 |
|
Other non-current assets |
46 565 |
129 105 |
|
TOTAL IN SECTION I. |
2 914 949 |
3 719 219 |
|
II. CURRENT ASSETS |
|
|
|
Inventories |
2 708 564 |
4 913 707 |
|
VAT on acquired assets |
12 086 |
197 908 |
|
Accounts receivable |
1 607 243 |
2 017 611 |
|
Financial investments (excluding the
monetary equivalent) |
0 |
0 |
|
Cash and monetary equivalents |
11 025 |
14 451 |
|
Other current assets |
50 153 |
42 448 |
|
TOTAL IN SECTION II. |
4 389 071 |
7 186 125 |
|
BALANCE |
7 304 020 |
10 905 344 |
|
2. LIABILITIES |
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III. CAPITAL AND RESERVES |
|
|
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Authorized capital (share capital, charter
capital, deposits capital, partners capital) |
43 087 |
43 087 |
|
Treasury stock |
0 |
0 |
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Revaluation of fixed assets |
0 |
0 |
|
Additional capital (without revaluation) |
115 |
115 |
|
Reserve capital |
0 |
0 |
|
Retained earnings (uncovered loss) |
3 332 318 |
5 108 296 |
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TOTAL IN SECTION III. |
3 375 520 |
5 151 498 |
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IV. LONG-TERM LIABILITIES |
|
|
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Borrowed funds |
1 766 379 |
3 240 942 |
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Deferred tax liabilities |
109 934 |
21 413 |
|
Provisions |
0 |
0 |
|
Other liabilities |
569 400 |
569 400 |
|
TOTAL IN SECTION IV. |
2 445 713 |
3 831 755 |
|
V. SHORT-TERM LIABILITIES |
|
|
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Borrowed funds |
420 228 |
764 534 |
|
Payables |
995 838 |
978 695 |
|
Deferred income |
0 |
0 |
|
Provisions |
66 721 |
178 862 |
|
Sonstige Verbindlichkeiten |
0 |
0 |
|
TOTAL IN SECTION V. |
1 482 787 |
1 922 091 |
|
BALANCE |
7 304 020 |
10 905 344 |
|
profit and loss account |
A 31.12.2011 |
B 31.12.2012 |
|
Turnover |
15 075 688 |
22 181 034 |
|
Cost of sales |
6 758 068 |
10 407 511 |
|
Gross profit (loss) |
8 317 620 |
11 773 523 |
|
Selling expenses |
5 707 814 |
8 842 995 |
|
Administrative expenses |
771 320 |
553 356 |
|
Sales profit (loss) |
1 838 486 |
2 377 172 |
|
Earnings from other entities |
0 |
0 |
|
Interest receivable |
123 235 |
128 535 |
|
Interest payable |
219 431 |
258 676 |
|
Other operating income |
114 556 |
826 955 |
|
Other operating expenses |
219 013 |
838 296 |
|
Profit (loss) before tax |
1 637 833 |
2 235 690 |
|
Current profit tax |
365 670 |
414 520 |
|
Permanent tax liabilities (assets) |
21 552 |
19 329 |
|
Change in deferred tax liabilities |
-17 365 |
88 520 |
|
Change in deferred tax assets |
0 |
36 573 |
|
Different |
407 |
0 |
|
Net profit (loss) |
1 289 121 |
1 769 223 |
|
Results of fixed assets revaluation,
non-includedin net profit/loss for period |
0 |
0 |
|
Result of other transactions, non included
in net profit/loss for period |
0 |
0 |
|
Total financial result for period |
1 289 121 |
1 769 223 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
UK Pound |
1 |
Rs.100.44 |
|
Euro |
1 |
Rs.84.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.