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Report No. : |
352483 |
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Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
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Name : |
BADAGONI SHPS |
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Formerly Known As : |
KNIGHT OF WINEMAKING |
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Registered Office : |
4 Freedom Square, Tbilisi
0105 |
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Country : |
Georgia |
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Date of Incorporation : |
15.10.2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is producers of wine |
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No. of Employee : |
150 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
LARI 200,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Georgia |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
GEORGIA - ECONOMIC
OVERVIEW
Georgia's main economic activities include cultivation of agricultural products such as grapes, citrus fruits, and hazelnuts; mining of manganese, copper, and gold; and producing alcoholic and nonalcoholic beverages, metals, machinery, and chemicals in small-scale industries. The country imports nearly all of its needed supplies of natural gas and oil products. It has sizeable hydropower capacity that now provides most of its energy needs. Georgia has overcome the chronic energy shortages and gas supply interruptions of the past by renovating hydropower plants and by increasingly relying on natural gas imports from Azerbaijan instead of from Russia. Construction of the Baku-T'bilisi-Ceyhan oil pipeline, the South Caucasus gas pipeline, and the Kars-Akhalkalaki Railroad are part of a strategy to capitalize on Georgia's strategic location between Europe and Asia and develop its role as a transit point for gas, oil, and other goods. The expansion of the South Caucasus pipeline, as part of the Shah Deniz II Southern Gas Corridor project, will result in a $2 billion foreign investment in Georgia, the largest ever in the country. Gas from Shah Deniz II is expected to begin flowing in 2019. Georgia's economy sustained GDP growth of more than 10% in 2006-07, based on strong inflows of foreign investment and robust government spending. However, GDP growth slowed following the August 2008 conflict with Russia, and sunk to negative 4% in 2009 as foreign direct investment and workers' remittances declined in the wake of the global financial crisis. The economy rebounded in 2010-13, but FDI inflows, the engine of Georgian economic growth prior to the 2008 conflict, have not recovered fully. Unemployment has also remained high. Georgia has historically suffered from a chronic failure to collect tax revenues; however, since 2004 the government has simplified the tax code, improved tax administration, increased tax enforcement, and cracked down on petty corruption, leading to higher revenues. The country is pinning its hopes for renewed growth on a determined effort to continue to liberalize the economy by reducing regulation, taxes, and corruption in order to attract foreign investment, with a focus on hydropower, agriculture, tourism, and textiles production. The government has received high marks from the World Bank for its anti-corruption efforts. Since 2012, the Georgian Dream-led government has continued the previous administration's low-regulation, low-tax, free market policies, while modestly increasing social spending, strengthening anti-trust policy, and amending the labor code to comply with International Labor Standards. The government published its 2020 Economic Development Strategy in early 2014 and former Prime Minister Bidzina IVANISHVILI launched the Georgian Co-Investment Fund, a $6 billion private equity fund that will invest in tourism, agriculture, logistics, energy, infrastructure, and manufacturing. In mid-2014, Georgia signed an association agreement with the European Union, paving the way to free trade and visa-free travel.
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Source
: CIA |
BADAGONI SHPS
BADAGONI LTD (Requested)
Street :
4 Freedom Square
Town :
Tbilisi 0105
Country :
Georgia
Telephone : (995 32) 293 6243 / Mobile (995 599)
552 403
Fax :
(995 32) 293 6243
E-Mail :
office@badagoni.ge
Website :
www.badagoni.ge
Trading Style : Badagoni
Extended
Name : Badagoni
Shazguduli Pasukhismbgeblobis Sazagadoeba
English
Translation : Badagoni LLC
Also Known
As
: Badagoni Wine Factory
Formerly
Known As : Knight of Winemaking
Name Position
1. German Shengelia Managing
Director
2. Tamara Kiladze Office Manager
Total Employees : 150
Slow but correct
We consider it is
acceptable to deal with subject for MEDIUM amounts, however in view of the lack
of financial information we recommend international suppliers exercise a degree
of caution.
Opinion on maximum credit:
LARI 200,000 (higher amounts may be considered with full fiscal
disclosure)
Trade risk assessment:
Normal
It is normal accepted
practice for international suppliers to deal on secured terms with Georgian
importers.
NAME :
TBC-BANK (TBILISI BUSINESS CENTRE BANK) JSC
Branch : Marzhanishvili Street 7
Town :
Tbilisi 0125
Telephone : (995 32) 272 727
Fax :
(995 32) 272 727
Private companies in Georgia
are not required to publish or disclose balance sheets. Balance sheets are not
available from other sources, and the subject interviewed declined to give any
financial information, which the company regards as strictly confidential.
The following financial
information is the latest available on the subject in our file :
Sales Turnover :
US DLRS 5,000,000 - 2012 - approx
: US DLRS 7,000,000 - 2013 - approx
Net Profit :
not given
Financial year ends 31
December.
Date Started : 15 October 2003
History : Subject was
established in Georgia on 15 October 2003. Initially, subject’s sole
shareholder was as follows :
- Grakoro Trading
Limited
Limassol
Cyprus
C.R. No. :
115225/05
Later on, subject’s
shareholding structure changed to the present.
C.R. No. : 18/5/b-123
ID Code : 224624262
Capital : not given
Shazguduli Pasukhismbgeblobis
Sazagadoeba (Limited Liability Company) ShPS) with the following director and
sole shareholder :
German Shengelia
(Georgian national / Personal No. : 35001011104)
Giorgi Salaqaia 100%
(Georgian national / Personal No. : 01010004767)
Affiliated
company of Badagoni ShPS :
Greip Lendi
Grape Land ShPS
T.
Nadareishvili Street 4, Office No. 3
Vake-Saburtalo
District
Tbilisi
Est. : 18 September
2013
ID Code :
405010063
The Company is involved in
the following activities :
Producers of wine.
Subject distributors
includes :
- UTA NN Ltd;
Russia
- Belarustorg;
Belarus
- Domain Menada Sp.Z.O.O;
Poland
- Badagoni-Ukraine Ltd;
Ukraine
- Cellar TOO;
Kazakhstan
- Bebu GmbH.
Germnay
NACE Code : 1102
Imports from Europe,
Russia, Italy, Portugal and Ukraine.
Exports to CIS Countries,
Estonia, Lithuania, Poland, Slovakia, Germany, Switzerland and China.
The Company has the
following facilities :
Administrative offices
located at the heading address as well as a warehouse located in Tbilisi and a
manufacturing unit, vineyard and storage facilities located throughout Georgia
(see 'Branch Offices' below).
Zemo Khodasheni Village
Akhmeta District 0910
1. Wine Factory
Zemo Khodasheni Village
Akhmeta District 0910
2. Ojaleshi
Samegrelo
(5 hectares)
3. Maghraani Village
Akhmeta District
(28,4 hectares)
4. Alaverdi Village
Akmeta District
(26 hectares)
5. Maghraani Village
Outskirts
Akhmeta District
(9 hectares)
6. Khorkheli Village
Akhmeta District
(30 hectares)
7. Alaverdi Cathedral
Surroundings
Alaverdi Village
Akmeta District
(24 hectares)
8. Badagoni
9. Akura Village,
Tsinandali Zone
Telavi District
(18 hectares)
10.Akhasheni Zone
Gurjaani District
(14 hectares)
11.Manavi
(22 hectares)
12.Mukuzani Zone
Gurjaani District
(7,5 hectares)
13.Kindzmarauli Zone
Khvareli District
(14,3 hectares)
14.Warehouse
A. Tsereteli Avenue 72A
Didube-Chugureti District
Tbilisi 0119
15.Khorkhell Village
Akmeta District
(30 hectares)
You enquired on : “BADAGONI
LTD”. Please note that the correct name is as per heading.
Interviewed : Tamara
Kiladze (Office Manager). Subject's senior official is currently away on a
prolonged holiday, in his absence staff is not authorized to divulge any
financial information.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
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Euro |
1 |
Rs.73.05 |
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GLE |
1 |
Rs. 28.00 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.