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MIRA INFORM REPORT
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Report No. : |
515887 |
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Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
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Name : |
FGUP VO ALMAZJUVELIREXPORT |
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Registered Office : |
Zubovsky
Boulevard 25, Block 1, Khamovniki District, Moscow 119021 |
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Country : |
Russia |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
16.12.1993 |
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Com. Reg. No.: |
OGRN 1027739136017 |
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Legal Form : |
State-Owned Unitary
Enterprise Foreign Trade Association |
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Line of Business : |
Trading as exporters and suppliers of rough & polished diamonds, platinum group metals, jewellery and other precious metals. |
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No. of Employees : |
171 (2018) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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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
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Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
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Russia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
BRIEF
SUMMARY
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COMPANY NAME |
FGUP VO ALMAZJUVELIREXPORT |
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ADDRESS |
Building |
Street |
Area |
PO Box |
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N/A |
Zubovsky
Boulevard 25, Block 1 |
Khamovniki District |
Moscow 119021 |
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TEL/FAX |
Verified
Phones: (+7 495) 694 7878 / +7 (495) 694 7873 / Fax: (+7 495) 694 7880 |
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EMAIL/WEBSITE |
Email:
info@almaz.ru / Website: www.almaz.ru (under construction) |
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ACTIVITY |
NACE
4676 - Wholesale of other intermediate products; NACE 4648 - Wholesale of
watches and jewellery; |
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PRINCIPAL |
Mikhail Germanovich Shein |
Workforce |
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Managing
Director |
171 |
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LEGAL INFO |
Date of Est. |
Reg. No. |
Legal Form |
Status |
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16/12/1993
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OGRN 1027739136017 |
State-Owned Unitary Enterprise Foreign Trade
Association |
Active |
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CAPITAL |
CURRENCY |
AMOUNT |
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RUBLE
(RUB) |
8,000,000,000
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OPINION ON MAX CREDIT |
CURRENCY
|
AMOUNT |
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RUBLE
(RUB) |
200,000,000 |
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IDENTIFICATION
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CO.
NAME |
FGUP VO ALMAZJUVELIREXPORT |
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ALSO
KNOWN NAME (S) |
Federalnoye
Gosudarstvennoe Unitarnoe Predpriyatie “Vneshneekonomicheskoye Obiedinenie AlmazYuvelirExport / State-Owned Unitary
Enterprise Foreign Trade Association "Almazjuvelirexport" / FSUE
VO Almazyuvelirexport |
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EXPECTED
NAME |
AO VO ALMAZJUVELIREXPORT. Subject is
currently under the process of converting into Joint Stock Company and
changing its name to AO VO ALMAZJUVELIREXPORT. The process is expected to be
completed until March 2019. |
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STREET
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Zubovsky Boulevard 25, Block 1 |
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AREA
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Khamovniki District |
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POSTAL
ADDRESS |
Moscow 119021 |
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CITY
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Moscow |
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COUNTRY
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Russia |
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TELEPHONE
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(+7 495) 694 7878 /
+7 (495) 694 7873 / (+7
495) 694 7854 |
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FAX
|
(+7 495) 694 7880 |
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VERIFIED
EMAIL |
info@almaz.ru / goszakupki@almaz.ru
/ r.shirokova@almaz.ru |
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WEBSITE
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www.almaz.ru (under construction) |
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BUSINESS
HOURS |
DAYS |
OFFICE
HOURS |
BREAK
TIME |
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Mon-Fri |
09:00-18:00 |
13:00-14:00 |
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REGISTERED
ADDRESS |
Zubovsky Boulevard 25, Block 1 Khamovniki District Moscow 119021 |
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SENIOR
PERSONNEL
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MANAGEMENT
|
NAME |
POSITION
|
|
Mikhail
Germanovich Shein Nationality:
Russian Tax
Code: INN
771804232328 |
Managing Director |
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Sergey Vyacheslavovich Klimkin Ilya Konstantinovich Koloskov Nikita Sergeevich Khrustalev Rumiya Alievna Shirokova Ms. Maria |
Deputy Managing Director Deputy Managing Director Deputy Managing Director Purchasing Manager Admin Officer |
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WORKFORCE
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NO.
OF EMPLOYEES |
PERIOD
|
|
171
|
01.2018 |
FINANCIAL
SUMMARY
|
TURNOVER |
31/12/2016
|
31/12/2015 |
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RUBLE 1,386,428,000 |
RUBLE 1,107,374,000 |
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NET
PROFIT / (LOSS) |
31/12/2016 |
31/12/2015 |
|
RUBLE 228,919,000 |
RUBLE(7,220,117,000) |
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PROFIT
BEFORE TAX |
RUBLE 377,729,000 as of 31/12/2016 |
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STOCK/INVENTORIES |
RUBLE 1,713,737,000 as of 31/12/2016
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FISCAL
YEAR-END |
31 December. |
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LEGAL
STATUS
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INCORPORATION |
16/12/1993 |
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REGISTRATION
NO. |
C.R. NUMBER |
ISSUED BY |
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OGRN 1027739136017 (issued on: 30/08/2002) |
Federal Tax Service |
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OTHER
REGISTRATION NO. |
INN 7704047921 (Tax Code) / KPP
770401001 / OKPO 1859902 (Statistics Code) / OKTMO 45383000000 |
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AUTHORISED
CAPITAL |
AMOUNT |
CURRENCY |
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8,000,000,000 |
RUBLE |
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PAID-UP
CAPITAL |
AMOUNT |
CURRENCY |
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8,000,000,000
|
RUBLE |
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BUSINESS
HISTORY |
The Company was incorporated in
Russia on 16 December 1993, however its origins of business activities can be
traced back to 1970. |
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LEGAL
FORM |
State-Owned
Unitary Enterprise Foreign Trade Association |
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ADDITIONAL
INFO |
21/08/2017, (vedomosti.ru): President Vladimir Putin signed a decree on converting FSUE VO Almazyuvelirexport into a joint stock company. This will happen within 18 months, 100% of the company's shares will be in federal ownership. Following a proposal to include it in the list of strategic enterprises and strategic joint-stock companies, approved by presidential decree, should be submitted. |
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STATUS
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Active |
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SOLE
SHAREHOLDER |
NAME |
PERCENTAGE |
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Ministry of Finance of the Russian
Federation Ilyinka Street 9 Moscow 109097 Telephone: (+7 495) 925 1750 C.R. No.: OGRN 1037739085636 Tax Code: INN 7710168360 Minister: Anton Germanovich Siluanov Personal profile on: Anton
Germanovich Siluanov He is a Russian politician and economist who is Minister of Finance of Russia and First Deputy Prime Minister. In 2011, he was appointed to Minister of Finance by Prime Minister Vladimir Putin in place of Alexei Kudrin, who was forced out and dismissed by president Dmitry Medvedev after publicly criticizing the additional defense spending of 2.1 trillion rubles (US$66 billion) through 2014. In 1985 Siluanov graduated from the Moscow Finance Institute with a degree in "Finance and credit". In 1994 he obtained a PhD degree in economics. From August 1985 to March 1987 Siluanov served as a senior economist for the Ministry of Finance of the Russian Soviet Federative Socialist Republic. From March 1987 to May 1989 he was drafted and served in the Soviet Army. From May 1989 to January 1992 he was a senior economist, a department head and a chief consultant and adviser for the Ministry of Finance. In February 1992 he was appointed as Deputy Head of the Ministry of Economics and Finance of the Russian Federation. From February 1992 to October 1997 he was the Deputy Head of Budget Office and Deputy Head of Budget Department of the Russian Ministry of Finance. From October 1997 to July 2003 Siluanov led macro-economic policy and banking activities at the Russian Ministry of Finance. On March 22, 2001 he became a member of the Board of the Ministry of Finance. From July 2003 to May 2004 he was the Deputy Minister of Finance, and from May 2004 to December 12, 2005 he served as Director of the intergovernmental relations of the Ministry of Finance of Russia, Deputy Minister. On September 27, 2011 the Prime Minister of Russia, Vladimir Putin, appointed him as Acting Minister of Finance of Russia, replacing in office the long-term minister, Alexei Kudrin. Prime Minister Vladimir Putin, who announced the appointment at a government meeting in September 27, 2011 after it was approved by Medvedev, said Siluanov was a “good, solid specialist.” First Deputy Prime Minister Igor Shuvalov will take over the responsibilities Kudrin had as the deputy prime minister in charge of the economy. Alexey Kudrin will be replaced by Anton Siluanov in International Monetary Fund, World Bank and in Eurasian Anticrisis economic Fund — ACF under Eurasian Development Bank. |
100.00% |
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OPERATION
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BANKERS |
PAO VTB Bank Leninskaya Sloboda Street 26 Moscow Russia Telephone: (+7 800) 200 2326 Acc. No.: 40502810700000000528 BIK: 044525187 Subject previously had an account with ZAO
Mezhdunarodniy Aktsionerniy Bank (MAB). |
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ACTIVITY
CODE (NACE) |
4676 - Wholesale of other intermediate products; 4648 - Wholesale of watches and jewellery; |
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LINE
OF BUSINESS |
Trading as exporters and suppliers of rough & polished diamonds, platinum group metals, jewellery and other precious metals. Subject’s partners include: AK ALROSA (PAO) and GMK Norilskiy Nikel. |
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IMPORT
FROM |
Subject’s imports details could not be learnt. |
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EXPORT
TO |
Worldwide, mainly to Belgium, Switzerland, USA, Hong Kong, India and Israel. |
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FACILITIES
|
Premises comprising administrative offices located at the heading address. |
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RELATED
COMPANIES |
Subsidiaries 1. OOO KRISTALLDIAM
Shevchenko Street 77-a
Smolensk 214020
Russia
Est.: 07/12/1998
C.R. No.: OGRN 1026701429402
Tax Code: INN 6731002565
Sole Shareholder: FGUP VO ALMAZJUVELIREXPORT
2. OOO ALMOSS
Bagrationovskiy proezd 7/2
Moscow 121087
Russia
Est.: 19/06/1995
C.R. No.: OGRN 1037739239581
Tax Code: INN 7704130150 3. OOO Archangelskie Almazy
Lomonosova Street 261
Archangelsk 163001
Russia
Est.: 22/06/2011
C.R. No.: OGRN 1112901006327
Tax Code: INN 2901215982
Shareholders: FGUP VO ALMAZJUVELIREXPORT – 73.53%
OOO KONSTPROEKT – 25%
ZAO ALMAKOM – 1.47% 4. ZAO ALMAKOM
Ostozhenka Street 7/15/12
Moscow 119034
Russia
Est.: 16/07/1996
C.R. No.: OGRN 1027700075996
Tax Code: INN 7704147683
Shareholders: FGUP VO ALMAZJUVELIREXPORT – 54.09%
OOO IFK Metropol – 22.07%
AO Komiagropprodukt – 19.55%
ZAO Archangelskie Almazy – 3.18%
ZAO Lyuks Dyu Mond – 1.1% Former Subsidiaries: 1. OOO ALMAZ
Babushkina Street 7
Smolensk 214031
Est.: 06/06/1995
Tax Code: INN 6731021600
Status: Liquidated 2. OOO MOSALMAZ
G. Panviltsev Street 10
Moscow 10
Est.: 15/12/1997
Tax Code: INN 7704015207
Status: Liquidated 3. ZAO MASTER ROSSIA
Andronievskaya Street 20
Moscow
Est.: 02/11/1993
Tax Code: INN 7709151531
Status: Liquidated 4. ZAO KARL FABERZHE
Andronievskaya Street 20
Moscow
Est.: 22/05/1995
Tax Code: INN 7709065226
Status: Liquidated 5. ZAO ALMAZ-PRESS
Shosseinaya Street 4D
Moscow
Est.: 24/12/1997
Tax Code: INN 7703183209
Status: Liquidated |
FINANCIAL
INFORMATION
|
CURRENCY |
RUBLE |
|
|
PERIOD |
31/12/2016 |
31/12/2015 |
|
CURRENT
ASSETS |
4,211,367,000 |
4,038,724,000 |
|
STOCK/INVENTORIES |
1,713,737,000 |
2,906,741,000 |
|
NON-CURRENT
ASSETS |
1,263,163,000 |
1,230,731,000 |
|
CURRENT
LIABILITIES |
94,386,000 |
60,919,000
|
|
NON-CURRENT
LIABILITIES |
0 |
0 |
|
EQUITY
|
5,380,144,000 |
5,208,536,000 |
|
BALANCE
TOTAL |
5,474,530,000 |
5,269,455,000 |
|
REVENUE |
1,386,428,000 |
1,107,374,000 |
|
NET
PROFIT / LOSS |
228,919,000
|
(7,220,117,000) |
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NOTES
|
Balance
sheets as at 31 December 2016 showed : 31/12/2016 31/12/2015 (in RUBLE) ASSETS Non-current
assets Fixed
assets 52,462,000 58,867,000 Financial
investments 1,210,611,000 1,171,780,000 Other
non-current assets 0 84,000 Total
non-current assets 1,263,163,000 1,230,731,000 Current
assets Stock 1,713,737,000 2,906,741,000 Value
added tax on purchased
valuables 195,837,000 279,224,000 Trade
receivables 480,307,000 114,134,000 Financial
Investments 426,112,000 0 Cash
equivalents 1,395,374,000
738,625,000 Total
current assets 4,211,367,000 4,038,724,000 TOTAL
ASSETS 5,474,530,000 5,269,455,000 EQUITY
& LIABILITIES Share
capital 8,000,000,000 8,000,000,000 Reserve
capital 3,170,000,000 3,170,000,000 Retained
earnings (5,798,594,000) (5,970,206,000) Total
Equity 5,380,144,000 5,208,536,000 Total
long-term liabilities 0 0 Short-term
liabilities
Accounts
Payable 32,816,000 4,568,000 Deferred
income 28,670,000 28,683,000 Total
Short-term Liabilities 94,386,000 60,919,000 TOTAL
EQUITY & LIABILITIES 5,474,530,000 5,269,455,000 INCOME
STATEMENT Revenue 1,386,428,000 1,107,374,000 Cost
of Sales (887,850,000) (699,855,000) Gross
Profit 498,578,000 407,519,000 Commercial
expenses (452,185,000) (406,964,000) Profit(loss)
from sales 46,393,000 555,000 Other
income and expenses Interest
income 53,365,000 551,404,000 Income
from participation
in other organizations 75,162,000 22,995,000 Other
income 2,039,484,000 6,536,984,000 Other
expenses
(1,836,675,000)(13,894,827,000) Profit(loss)
before taxation 377,729,000 (6,782,889,000 Change
in deferred tax
assets 0 (37,000) Current
income tax 136,385,000 437,191,000) Net
Profit(loss) 228,919,000 (7,220,117,000) |
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SPECIAL
REMARKS
|
INTERVIEWED |
Ms. Maria (Admin Officer). |
|
COMMENTS |
You enquired on: ALMAZJUVELIREXPORT.
Please note that subject’s correct registered name is as per heading. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.76 |
|
|
1 |
INR 89.95 |
|
Euro |
1 |
INR 78.85 |
|
RUB |
1 |
INR 1.08 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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Report Prepared
by : |
SUJ |
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 |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.