MIRA INFORM REPORT

 

 

Report No. :

353748

Report Date :

05.12.2015

 

IDENTIFICATION DETAILS

 

Name :

OOO "KVAZAR DAYMONDS"

 

 

Registered Office :

Ul Penyaginskaya D 24, KV 19, 125222 G Moskva 

 

 

Country :

Russia

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

27.03.2008

 

 

Com. Reg. No.:

1087746430012

 

 

Legal Form :

Limited liability companies

 

 

LINE OF BUSINESS :

·         MINING OF NON-FERROUS METAL ORES

 

·         MANUFACTURE OF JEWELLERY AND RELATED ARTICLES N.E.C.

·         RECYCLING OF METAL WASTE AND SCRAP

 

·         WHOLESALE OF OTHER HOUSEHOLD GOODS

·         WHOLESALE OF METALS AND METAL ORES

 

·         WHOLESALE OF OTHER INTERMEDIATE PRODUCTS

·         OTHER RETAIL SALE IN SPECIALIZED STORES

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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)

Russia

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 towards a more market-based and globally-integrated economy, but stalling as a partially reformed, 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 and defense-related sectors. The protection of property rights is still weak and the private sector remains subject to heavy state interference. 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's manufacturing sector is generally uncompetitive on world markets and is geared toward domestic consumption. Russia's 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 1998-2008 as oil prices rose rapidly, 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. In 2014, economic growth declined further when Russia forcibly violated Ukraine’s sovereignty and territorial integrity, and interfered in Ukraine’s internal affairs. In the second half of 2014, the Russian ruble lost about half of its value, contributing to increased capital outflows that reached $151.5 billion for the year; the ruble remains volatile. Declining oil prices, lack of economic reforms, and the imposition of foreign sanctions have contributed to the downturn and created wide expectations the economy will continue to slump. In April 2015, the Russian Ministry of Economic Development predicted that the Russia’s economy will contract by 3% in 2015, and average only 2.5% growth through 2030.

 

Source : CIA

Company name and address


OOO "KVAZAR DAYMONDS"

Ul Penyaginskaya d 24, kv 19, 125222 G Moskva 

Tel: 74957675891

 

 

Identification

 

 

Company development

Constant company development.

 

Business course

Satisfactory order situation.

Terms of payment

Mostly within agreed terms, in individual cases instalment payments.

 

Business connection

Business connection is not denied. Credit is not assigned, it requires securities.

 

Legal form

Limited liability companies (OOO)

 

Established on

27/03/2008 - Limited liability companies (OOO)

 

Registered on

27/03/2008, MEZHRAYONNAYA INSPEKTSIYA FEDERALNOY NALOGOVOY SLUZHBY N46 PO G. MOSKVE., 

RegNr.: 1087746430012
Tax number: 7733649800
Statistical number: 85723266

 

 

Registered capital

 

Registered capital

RUB

10 000,-

 

 

Owner

Maksim Aleksandrovich Izmestev

%

100

 

 

 

Sole Executive Body

 

Maksim Aleksandrovich Izmestev
Managing director

 

 

 

General data

 

Main activity:
Manufacture of jewellery and related articles n.e.c.



Full name:
Obshchestvo s ogranichennoy otvetstvennostyu "Kvazar Daymonds"

 

Short name:
OOO "Kvazar Daymonds"

 

Residence address:


ul Penyaginskaya d 24, kv 19, 125222 g Moskva 
Tel:
74957675891

 

 

Other activities

 

 

Mining of non-ferrous metal ores

 

Manufacture of jewellery and related articles n.e.c.

Recycling of metal waste and scrap

 

Wholesale of other household goods

Wholesale of metals and metal ores

 

Wholesale of other intermediate products

Other retail sale in specialized stores

 

 

 

Annual turnover

 

31/12/2011

Enterprise turnover

RUB

248 507 000,-

31/12/2012

Enterprise turnover

RUB

234 675 000,-

 

 

Events, negative data

 

 

24.10.2011 - Legal debt collection procedure

Remark: 
A40-119282/2011

 

 

Remarks

 

OOO “Kvazar Daymonds” specializes in production of jewelry, medals and technical articles of precious metals and stones.
According to the research, through the managing director of OOO “Kvazar Daymonds”, Maksim Aleksandrovich Izmestyev, the company is affiliated with following legal persons: 
OOO “KVAZAR AVTO” – OGRN: 1127747189790, Moscow. Maksim Aleksandrovich Izmestyev is the director and owner of 100% of share capital of this company.
OOO “Kvazar Daymonds” did not participate in court cases as claimant.
OOO “Kvazar Daymonds” was fined on 200 000 rub in October of 2015 for violation of federal law to provide the authorized body of information on transactions subject to mandatory control
According to the information, disclosed by the Federal Tax Service, OOO “Kvazar Daymonds” does not have tax arrears, the company is not going to be excluded from the state register as non-active.
According to the information, disclosed by the Pension Fund of Russian Federation, OOO “Kvazar Daymonds” does not have delays in social payments.
According to the research, OOO “Kvazar Daymonds” does not meet the most frequently encountered in practice characteristics of unreliable companies (so-called “shell” companies), developed by the Federal Tax Service of Russian Federation.
OOO “Kvazar Daymonds” is not in the list of default debtors, the Register of unfair suppliers, the blacklist of Russian companies.
The management of the company is not in the list of default debtors, the register of disqualified persons, the blacklist of Russian Private Persons.

 

A. The enclosed balance of 2011 is originated from official source, no data available about authentication. (31.12.2011 - 1000 RUB)
B. The enclosed balance of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB)

 

 

 

Financials

 

BALANCE

A 31.12.2011

B 31.12.2012

1. ASSETS

 

 

Tangible non-current assets

63

27 321

Intangible, financial and other non-current assets

56

24

Resources

10 474

38 580

Cash and cash equivalents

72

22 009

Financial and other current assets

106 342

354 760

BALANCE

117 007

442 694

2. LIABILITIES

 

 

Capital and reserves

2 911

15 576

Long-term debt

0

20 397

Other long-term liabilities

0

846

Short-term borrowings

90 521

30 528

Payables

23 575

375 347

Other short-term liabilities

0

0

BALANCE

117 007

442 694

A. The enclosed profit and loss account of 2011 is originated from official source, no data available about authentication. (31.12.2011 - 1000 RUB)
B. The enclosed profit and loss account of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB)

 

 

PROFIT AND LOSS ACCOUNT

A 31.12.2011

B 31.12.2012

Turnover

248 507

234 675

Expenditure on ordinary activities

246 339

194 480

Outstanding interest

0

0

Other income

2 159

2 382

Other expenses

3 501

36 619

Taxes on income (profit)

505

378

Net income (loss)

321

5 580

 

 

Ratios

 

 

 

2011

2012

Current ratio

n/a

n/a

Quick ratio

n/a

n/a

 

Average Collection Period

n/a

n/a

Payables turnover Period

n/a

n/a

 

Debt ratio

0

0

Equity to total assets ratio

0

0

 

Funding ratio

n/a

n/a

Return on sales

n/a

n/a

 

Return on Assets

n/a

0

Return on Equity

n/a

n/a

 

 

 

DIAMOND INDUSTRY – INDIA

 

-            From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8th Century B.C.  India, in fact, remained undisputed leader till 18th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

-            The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

-            The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

-            Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

-            Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

-            Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

-            Excerpts from Times of India dated 30th October 2010 is as under –

 

-            Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

 

-            The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.75

UK Pound

1

Rs.100.68

Euro

1

Rs.70.88

RUB

1

Rs.0.98

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

TPT

 

 

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%)

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.