MIRA INFORM REPORT

 

 

Report No. :

328064

Report Date :

27.06.2015

 

IDENTIFICATION DETAILS

 

Name :

AO "SUDOEKSPORT"

 

 

Registered Office :

ul Sadovaya-Kudrinskaya D 11,  123242 G Moskva

 

 

Country :

Russia

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

17.04.2013

 

 

Legal Form :

Closed and joint-stock companies (ZAO)

 

 

Line of Business :

Wholesale of vehicles and equipments.

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

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

 

AO "SUDOEKSPORT"

ul Sadovaya-Kudrinskaya d 11,
123242 g Moskva

Tel: 74957273052
Telefax: 74957273053
E-Mail: info@sudoexport.ru
Web: www.sudoexport.ru

 

 

Company summary

 

 

Company development

Positive company development.

 

Business course

Satisfactory order situation.

 

Terms of payment

Within agreed terms.

 

Business connection

Business connection and credit are permissible.

 

Legal form

Closed and joint-stock companies (ZAO)

 

Established on

17/04/2013 - Closed and joint-stock companies (ZAO)

 

Registered on

17/04/2013, Mezhrayonnaya inspektsiya Federalnoy nalogovoy sluzhby № 46 po g. Moskve, RegNr.: 1137746347804
Tax number: 7703788275
Statistical number: 07504956

Registered capital

RUB

626 087 000,-

 

 

Owner

Rosimushchestvo
NIKOLSKIY PER D 9, 109012 G MOSKVA

%

94,35

 

Board of directors

Artem Vasilevich Samtsov
Member of the board of directors

 

 

Dmitriy Viktorovich Melnov
Member of the board of directors

 

Leonid Vasilevich Strugov
Member of the board of directors

 

 

Margarita Pavlovna Turkova
Member of the board of directors

 

Sergey Ivanovich Gaydardzhi
Member of the board of directors

 

Sole Executive Body

Vladimir Aleksandrovich Pakhomov
Managing director

General data

Main activity:
Wholsale of vehicles and equipments

 

 

 

Full name:
Aktsionernoe obshchestvo "Vneshneekonomicheskoe predpriyatie "Sudoeksport"

 

Short name:
AO "Sudoeksport"

 

 

 

Residence address:
ul Sadovaya-Kudrinskaya d 11, 123242 g Moskva
Tel:
74957273052
Telefax:
74957273053
E-Mail:
info@sudoexport.ru
Web:
www.sudoexport.ru  

 

 

Other activities

 

:

 

 

 

Building and repairing of ships and boats

 

Building of complete constructions or parts thereof; civil engineering

 

 

Building installation

 

Building completion

 

 

Storage and warehousing

 

Other financial intermediation n.e.c.

 

 

Letting of own property

 

Management of real estate on a fee or contract basis

 

 

Renting of other machinery and equipment n.e.c.

 

Business and management consultancy activities

 

 

Other business activities not elsewhere classified

 

Other sporting activities

 

Annual turnover

31/12/2006

Enterprise turnover

RUB

141 750 000,-

 

 

31/12/2007

Enterprise turnover

RUB

109 845 000,-

 

 

 

31/12/2008

Enterprise turnover

RUB

143 550 000,-

 

 

31/12/2009

Enterprise turnover

RUB

333 758 000,-

 

 

 

31/12/2010

Enterprise turnover

RUB

260 165 000,-

 

 

31/12/2011

Enterprise turnover

RUB

565 647 000,-

 

 

 

31/12/2012

Enterprise turnover

RUB

375 249 000,-

 

 

31/12/2013

Enterprise turnover

RUB

176 446 000,-

 

 

 

31/12/2014

Enterprise turnover

RUB

304 467 000,-

 

Remarks

According to information from official web site, the company specializes in import of equipment and spare parts for shipbuilding.
AO "SUDOEKSPORT" is currently involved into following projects:
Delivery to India (at the shipyard) industrial equipment, spare parts and materials for the construction, repair and modernization of vessels for various purposes.
Participation in the work of specialized Russian-Indian working group on shipbuilding and engineering.
Coordination of the work of Russian companies in preparation and implementation of joint projects in the field of commercial shipbuilding in the directions defined by the Russian-Vietnamese Intergovernmental Commission and the specialized working groups.
Participation in ensuring the supply of production equipment and general industrial valves for the shipyard under construction in Vietnam.
Organization of activity of the joint working group formed by the Russian-Venezuelan intergovernmental commission to prepare a draft construction shipyard on the River Orinoco.
Organization of the supply of equipment for the construction of ships at the plants.
Cooperation within the framework of agency agreements for the implementation of contracts for spare parts construction equipment export vessels.
Participation in the implementation of projects provided by the Federal Target Program "Development of Civil Marine Equipment for 2009-2016."
Through the managing director of AO "SUDOEKSPORT", Pakhomov Vladimir Aleksandrovich, the company is affiliated with following legal entities:
OOO "Nauchno-proizvodstvennoe predpriyatie "NEST" – INN: 5321145222, g Veliky Novgorod - active legal entity. Pakhomov Vladimir Aleksandrovich is the owner of 29% of share capital of the company;
OOO "ARSENAL-RBT" – INN: 7726737090, g Moskva - active legal entity. Pakhomov Vladimir Aleksandrovich is the owner of 12.5% of share capital of the company;
OOO " Okhotokhozyaistvo - Tulamash" – INN: 7135037960, Tulskaya oblast, d Platitsino-1- active legal entity. Pakhomov Vladimir Aleksandrovich is the owner of 15% of share capital of the company;
AO "OSK" – INN: 7838395215, g Sankt-Peterburg - active legal entity. Pakhomov Vladimir Aleksandrovich was the president of this company.
The company participated in a few court cases as a claimant and collected as a result 1 150 243,37 RUB in 2014.
The company has several state contracts on the total sum:
In 2014: 9 750 000 RUB;
In 2013: 22 630 000 RUB;
In 2012: 11 000 000 RUB.
According to the research, AO "SUDOEKSPORT" 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.
According to the information, disclosed by the Federal Tax Service, AO "SUDOEKSPORT" 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, AO "SUDOEKSPORT" does not have delays in social payments.
According to the information, disclosed by the Federal Labor Service, the company does not plan to attract foreign employees.
AO "SUDOEKSPORT" 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 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).
B. The enclosed balance of 2013 is originated from official source, no data available about authentication. (31.12.2013 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).
C. The enclosed balance of 2014 is originated from official source, no data available about authentication. (31.12.2014 - 1000 RUB) - Warning! The figures stated in the balance sheet may contain error(s).

 

Financial statement

 

 

BALANCE

A 31.12.2012

B 31.12.2013

C 31.12.2014

1. ASSETS

 

 

 

I. FIXED ASSETS

 

 

 

Intangible assets

0

0

0

The results of research and development

0

0

0

Intangible research assets

0

0

0

Tangible research assets

0

0

0

Fixed assets

461 916

482 190

595 674

Profitable investments in tangible assets

0

0

0

Financial investments

1 027

1 027

1 027

Deferred tax assets

454

974

1 024

Other non-current assets

0

0

63

TOTAL IN SECTION I.

463 397

484 191

597 788

II. CURRENT ASSETS

 

 

 

Inventories

928

1 390

10 935

VAT on acquired assets

16 427

142

3 225

Accounts receivable

78 487

128 883

82 950

Financial investments (excluding the monetary equivalent)

0

0

136 948

Cash and monetary equivalents

75 855

47 678

0

Other current assets

726

435

558

TOTAL IN SECTION II.

172 423

178 528

234 616

BALANCE

635 820

662 719

832 404

2. LIABILITIES

 

 

 

III. CAPITAL AND RESERVES

 

 

 

Authorized capital (share capital, charter capital, deposits capital, partners capital)

626 087

626 087

663 565

Treasury stock

0

0

0

Revaluation of fixed assets

0

34 517

69 287

Additional capital (without revaluation)

0

0

59 903

Reserve capital

0

0

959

Retained earnings (uncovered loss)

-27 194

-23 245

-8 981

TOTAL IN SECTION III.

598 893

637 359

784 733

IV. LONG-TERM LIABILITIES

 

 

 

Borrowed funds

0

0

0

Deferred tax liabilities

100

80

294

Provisions

0

0

0

Other liabilities

0

0

0

TOTAL IN SECTION IV.

100

80

294

V. SHORT-TERM LIABILITIES

 

 

 

Borrowed funds

0

0

0

Payables

34 620

20 508

42 441

Deferred income

0

0

0

Provisions

2 207

4 772

4 936

Sonstige Verbindlichkeiten

0

0

0

TOTAL IN SECTION V.

36 827

25 280

47 377

BALANCE

635 820

662 719

832 404

 

A. The enclosed profit and loss account of 2012 is originated from official source, no data available about authentication. (31.12.2012 - 1000 RUB)
B. The enclosed profit and loss account of 2013 is originated from official source, no data available about authentication. (31.12.2013 - 1000 RUB)
C. The enclosed profit and loss account of 2014 is originated from official source, no data available about authentication. (31.12.2014 - 1000 RUB)

 

 

PROFIT AND LOSS ACCOUNT

A 31.12.2012

B 31.12.2013

C 31.12.2014

Turnover

375 249

176 446

304 467

Cost of sales

96 902

5 827

105 221

Gross profit (loss)

278 347

170 619

199 246

Selling expenses

232 062

155 729

218 609

Administrative expenses

0

0

0

Sales profit (loss)

46 285

14 890

-19 363

Earnings from other entities

3 203

2 810

3 653

Interest receivable

243

444

430

Interest payable

906

819

4 414

Other operating income

57 590

16 892

107 620

Other operating expenses

99 940

27 917

64 878

Profit (loss) before tax

6 475

6 300

23 048

Current profit tax

3 063

2 892

-7 661

Permanent tax liabilities (assets)

2 074

1 092

-4 132

Change in deferred tax liabilities

109

-20

-213

Change in deferred tax assets

-197

520

49

Different

0

0

0

Net profit (loss)

3 106

3 948

15 223

Results of fixed assets revaluation, non-includedin net profit/loss for period

0

34 517

34 770

Result of other transactions, non included in net profit/loss for period

0

0

0

Total financial result for period

3 106

38 465

49 993

 

 

 

 

RATIOS

2012

2013

2014

Current ratio

4,68

7,06

4,95

Quick ratio

4,66

7,01

4,72

 

Average Collection Period

64,92

214

127

Payables turnover Period

97,12

1727

109

 

Debt ratio

0,06

0,04

0,06

Equity to total assets ratio

0,94

0,96

0,94

 

Funding ratio

16,22

25,13

16,46

Return on sales

0,83

2,24

5

 

Return on Assets

0,51

0,61

2,04

Return on Equity

0,54

0,64

2,14

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.60

UK Pound

1

Rs.100.09

Euro

1

Rs.71.23

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.