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MIRA INFORM REPORT
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Report No. : |
498470 |
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Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
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Name : |
AO ECO RESOURCE |
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Formerly Known As : |
ZAO ECO RESOURCE |
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Registered Office : |
Kievskaya Street 6/1, Liter B, Moskovskiy
District, 196084 Saint Petersburg |
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Country : |
Russia |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
19.10.2006 |
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Com. Reg. No.: |
OGRN 5067847462073 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
·
Wholesale of chemical products ·
Manufacture of dyes and pigments |
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No. of Employees : |
100 [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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 |
SUMMARY
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COMPANY NAME
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AO ECO RESOURCE |
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ADDRESS
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Building |
Street |
Area |
PO Box |
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N/A |
Kievskaya Street 6/1, Liter B, Office 103 |
Moskovskiy District |
196084 Saint Petersburg |
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TEL/FAX
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Verified Phones: (+7 812) 777
7331 / Fax: (+7 812) 777 7332 |
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EMAIL/WEBSITE
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Email: er@eco-resource.ru / tfilippova@eco-resource.ru / Website:
www.eco-resource.ru |
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ACTIVITY
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NACE 4675 - Wholesale of chemical products; NACE 2012 -
Manufacture of dyes and pigments; |
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PRINCIPAL
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Sergey
Leonidovich Demenok |
Workforce |
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Managing Director
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100 |
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LEGAL INFO
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Date Of Est. |
Reg. No. |
Legal Form |
Status |
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19/10/2006 |
OGRN 5067847462073 |
Joint Stock Company |
Active |
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CAPITAL
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CURRENCY |
AMOUNT |
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RUBLE (RUB) |
10,000 |
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IDENTIFICATION
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CO. NAME
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AO ECO
RESOURCE |
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TRADEMARK
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FOODCO /
ECOPLANT / AQUANAT / ECOTON / MIXROM / AROMACOLOR / BETA-KAROTIN / MIXROMIC /
FERRONAT |
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ALSO KNOWN NAME (S)
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AO EKO RESURS / JSC ECO RESOURCE |
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FORMER NAME
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ZAO ECO RESOURCE |
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STREET
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Kievskaya Street 6/1, Liter B,
Office 103 |
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AREA
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Moskovskiy
District |
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POSTAL ADDRESS
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196084
Saint Petersburg |
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CITY
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Saint Petersburg |
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COUNTRY
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Russia |
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TELEPHONE
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(+7
812) 777 7331 ext. 229 & 1016 / Mobile (+7 967) 968 1152 / (+7 911) 287
5735 |
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FAX
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(+7
812) 777 7332 |
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VERIFIED EMAIL
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er@eco-resource.ru /
tfilippova@eco-resource.ru / ponomareva-a@eco-resource.ru |
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WEBSITE
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www.eco-resource.ru |
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BUSINESS HOURS
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DAYS |
OFFICE HOURS |
BREAK TIME |
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Mon-Fri |
09:30-18:00 |
13:00-14:00 |
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REGISTERED ADDRESS
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Kievskaya Street 6/1, Liter B, Moskovskiy
District, 196084 Saint
Petersburg, Russia |
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SENIOR
PERSONNEL
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MANAGEMENT
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NAME |
POSITION |
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Sergey Leonidovich Demenok Nationality: Russian Tax Code: INN 780518751447 |
Managing Director |
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Sergey Vetlugin Tatyana Filippova Anna Ponomareva |
Deputy Director Purchasing Manager Sales Manager |
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WORKFORCE
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NO. OF EMPLOYEES |
PERIOD |
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100 |
03.2018 |
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FINANCIAL
SUMMARY
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REVENUE
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31/12/2017 (approx) |
31/12/2016 |
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RUBLE 800,000,000 |
RUBLE 757,574,000 |
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NET PROFIT / (LOSS)
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31/12/2016 |
31/12/2015 |
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RUBLE 118,854,000 |
RUBLE 765,000 |
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PROFIT BEFORE TAX
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RUBLE
148,749,000 as of 31/12/2016 |
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STOCK/INVENTORIES
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RUBLE 247,558,000 as of 31/12/2016 |
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LEGAL
STATUS
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INCORPORATION
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19/10/2006
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REGISTRATION NO.
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C.R. NUMBER |
ISSUED BY |
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OGRN 5067847462073 |
Federal Tax Service |
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OTHER REGISTRATION NO.
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INN
7810076603 (Tax Code) / KPP 781001001
/ OKPO 96785767 (Statistics Code) / OKTMO 40373000000 |
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AUTHORISED CAPITAL
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AMOUNT |
CURRENCY |
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10,000 |
RUBLE |
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PAID-UP CAPITAL
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AMOUNT |
CURRENCY |
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10,000 |
RUBLE |
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LEGAL FORM
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Joint Stock
Company |
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BUSINESS HISTORY
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The
Company was incorporated in Russia on 19 October 2006 as a closed joint stock
company under the name ZAO ECO
RESOURCE. Subject’s origins of business activities can be traced back to
1994. Later on, subject was converted into a Joint Stock Company with the
present name and shareholding structure.
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STATUS
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Active |
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SHAREHOLDERS
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NAME |
PERCENTAGE |
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OOO RINVOL
Kievskaya Street 6/1, Liter B, Moskovskiy
District 196084 Saint Petersburg Russia Telephone: (+7 812) 380 5750 Est.: 06/11/2002 C.R. No.: OGRN 1027810251886 Tax Code: INN 7826153204 Share Capital: RUBLE 60,000 Shareholders: Sergey Leonidovich Demenok – 75% Nina Ivanovna Demenok – 25% |
100.00% |
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OPERATION
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BANKERS
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JSC UniCredit Bank nab. Fontanki 48/2 Saint Petersburg 196084 Russia Telephone: (+7 812) 346 8410 Fax : (+7 812) 346 8410 SWIFT: IMBKRUMM |
ACTIVITY CODE (NACE)
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NACE 4675 - Wholesale of chemical products;
NACE 2012 - Manufacture of dyes and pigments; |
LINE OF BUSINESS
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Manufacturers of food & natural colours as
well as feed additives and food flavors. Annual production capacity: up to 1,000 tonnes of
natural colours. Subject’s clients include: Mikoyan, AGRANA,
Puratos, Konti, Blago, Kvas Nikola, Parmalat, Carlsberg, Chupa Chups,
Chipita, Slavyanka, Vodniy Mir, SladKo, Barilla, Solnechnye Produkty, Santa
Bremor, Dohler, Galina Blanca, ABInBev and Soyuz. |
IMPORT FROM
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Europe, India, China and Peru. |
EXPORT TO
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CIS
countries, Georgia, Ukraine, Moldova, Austria and the Netherlands. |
TRADE REFERENCES
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1. Secna
SA Poligono 33 – Parcela 254, El Mulador 46370 Chiva – Valencia Spain Tel: (+34 96) 178 8270 2.
Colarome Inc 5132, J.A.Bombardier Street Saint-Hubert (Quebec) J3Z 1H1 Canada Tel: (+1 450) 766 8707 Fax: (+1 450) 766 8711 3. DCM
Food Specialties BV Het Overloon 1, 6411 TE Heerlen the Netherlands 4. Quimitia
R. Maria Dalprá Berlesi, 229 -
Canguiri, Colombo - PR, 83412-055 Brazil 5. Cabot
Corporation USA 6. LycoRed
Limited 7.
Precheza nabr. Dr. Edvarda Benese 1170/24 750 02, Prerov Czech Republic Tel: (+420 581) 252 111 Fax: (+420 581) 217 048 8.
Neelikon Food Dyes And Chemicals Limited D-8, Everest, 5th Floor, Pandit M.M. Malaviya Marg, Tardeo Circle Mumbai 400 034 India Tel: (+91 22) 6662 6874 / (+91 22) 6666
1415 |
FACILITIES
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Premises
comprising administrative offices located at the heading address as well as
1,100 sq. m. manufacturing units, 220 sq. m. laboratory and 2,800 sq. m
storage facilities located elsewhere in Leningrad Region, Moscow and Saint Petersburg.
Subject also has representative offices in Moscow, Kiev, Lima and Tbilisi
(see “Branch Offices” below). |
BRANCH OFFICES
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1.
Representative Office in Moscow Zolotorozhskiy Val 22 Moscow 111033 Russia Tel: (+7 499)
700 0703 E-mail: eco@eco-resource.ru 2.
Representative Office in Kiev N. Trublaini 2-a Kiev 03134 Ukraine Tel: (+38 044) 458 9645 E-mail: kiev@eco-resource.com.ua 3.
Warehouse facilities in Saint Petersburg Per. Maslyaniy 8-Zh Saint Petersburg 196084 Russia Tel: (+7 812) 677 9319 4.
Warehouse facilities in Moscow Region Kirova Street 20-A Lyubertsy Moscow Region Tel:
(+7 499) 922 4199 5.
Representative Office in Lima
Av.San Martin 1099, Pueblo
Libre, Lima
Peru Tel: (+511) 463 0054 E-Mail: peru.ecoresource@gmail.com 6.
Representative Office in Tbilisi D. Tavdadebuli 29 Tbilisi 0131 Georgia
Mobile:
(+995 577) 788 108 E-Mail: info@eco-resource.com.ge |
RELATED COMPANIES
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Subsidiaries 1. OOO Eco
Resurs Ukraina N.
Trublaini 2-a Kiev
03134 Ukraine Tel: (+38 044) 458 9645 E-mail:
kiev@eco-resource.com.ua 2. ECO
RESOURCE S.A.C. Av.San
Martin 1099, Pueblo Libre, Lima Peru Tel:
(+511) 463 0054 E-Mail: peru.ecoresource@gmail.com 3. ShPS ECO RESOURCE NATTECH D.
Tavdadebuli 29 Tbilisi
0131
Georgia Mobile: (+995 577) 788 108 E-Mail: info@eco-resource.com.ge Subsidiaries of OOO RINVOL (subject’s parent
company): 1. OOO Neva-Teplotechnica
Malinovskaya Street 8/12N Saint
Petersburg 196602 Russia Est.:
30/12/2010 C.R. No.:
OGRN 1107847409581 Tax Code:
INN 7802736510 Managing
Director: Vladimir Kondratyev Share
Capital: RUBLE 20,000
Shareholders: OOO
RINVOL – 91% Vladimir
Kondratyev – 9% 2. OOO Holiday Pigments Kievskaya
Street 6/1 Saint
Petersburg 196084 Russia Est.:
15/09/2004 C.R. No.:
OGRN 1047855086124 Tax Code: INN 7810007800 Managing
Director: Sergey Demenok Share
Capital: RUBLE 170,135
Shareholders: OOO
RINVOL – 75% Sergey
Demenok – 25% 3. ZAO Kontrol Kachestva
Malinovskaya Street 8/12N Saint
Petersburg 196602 Russia Est.:
21/07/2009 C.R. No.:
OGRN 1097847189241 Tax Code:
INN 7820319044 Managing
Director: Dmitriy Kryuchkov Share
Capital: RUBLE 10,000
Shareholders: OOO
RINVOL – 50% Dmitriy
Kryuchkov – 50% 4. OOO Euro Resource Kievskaya
Street 6/1 Saint
Petersburg 196084 Russia Est.:
12/10/2009 C.R. No.:
OGRN 1094706001312 Tax Code:
INN 4706029552 Managing
Director: Sergey Demenok Share
Capital: RUBLE 10,000 Sole
Shareholder: OOO
RINVOL – 100% 5. OOO STRATA Zanevskiy Avenue 65/5 Saint
Petersburg Russia Est.:
13/03/2012 C.R. No.:
OGRN 1127847126164 Tax Code:
INN 7806473326 Managing
Director: Sergey Demenok Share
Capital: RUBLE 1,850,000 Sole
Shareholder: OOO
RINVOL – 100% 6. OOO Holiday Instruments Liniya
22-ya 3 Saint
Petersburg 199106 Russia Est.:
14/02/2007 C.R. No.:
OGRN 1077847016620 Tax Code:
INN 7810089433 Managing
Director: Rastislav Lyubitskiy 7. OOO ECO PROM Kievskaya
Street 6/1 Saint Petersburg
196084 Russia Est.:
25/12/2007 C.R. No.:
OGRN 1074720002037 Tax Code:
INN 4720027758 Managing
Director: Sergey Ivanov Share
Capital: RUBLE 12,330,000 Sole
Shareholder: OOO
RINVOL – 100% |
FINANCIAL
INFORMATION
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CURRENCY
|
RUBLE |
|
PERIOD
|
31/12/2016 |
31/12/2015 |
CURRENT ASSETS
|
407,274,000 |
427,614,000
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STOCK/INVENTORIES
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247,558,000 |
222,261,000
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NON-CURRENT ASSETS
|
10,643,000 |
10,219,000
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CURRENT LIABILITIES
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351,853,000 |
419,955,000
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NON-CURRENT LIABILITIES
|
1,140,000 |
3,805,000 |
EQUITY
|
64,925,000 |
14,071,000 |
BALANCE TOTAL
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417,917,000 |
437,832,000
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REVENUE
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757,574,000 |
675,163,000
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NET PROFIT / LOSS
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118,854,000 |
765,000
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NOTES
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Balance sheets as at 31 December 2016 showed :
31/12/2016 31/12/2015 (in RUBLE) ASSETS Non-current assets Fixed assets
9,265,000 5,871,000 Tax
deferred assets 1,378,000 4,348,000 Total non-current assets
10,643,000 10,219,000 Current assets Stock
247,558,000 222,261,000 Value added tax on purchased valuables 394,000 765,000 Trade receivables
156,155,000 191,449,000 Cash equivalents
2,859,000 12,987,000 Other current assets 308,000 152,000 Total current assets
407,274,000 427,614,000 TOTAL ASSETS
417,917,000 437,832,000 EQUITY & LIABILITIES Equity
Share capital 10,000 10,000 Retained earnings
64,915,000 14,061,000 Total equity
64,925,000 14,071,000 Long-term liabilities Borrowings 0 0 Deferred tax liabilities
1,140,000 3,805,000 Total
long-term Liabilities 1,140,000 3,805,000 Short-term Liabilities Borrowings
30,046,000 31,629,000 Accounts payable
318,363,000 360,231,000 Total Short-term Liabilities
351,853,000 419,955,000 TOTAL EQUITY & LIABILITIES 417,917,000 437,832,000 INCOME STATEMENT Revenue
757,574,000 675,163,000 Cost of Sales
(499,595,000) (428,831,000) Gross Profit
257,979,000 246,332,000 Commercial expenses
(67,994,000) (60,797,000) Administrative expenses
(88,085,000) (153,518,000) Profit(loss) from sales
101,900,000 32,017,000 Other income and expenses Interest income 1,000 9,000 Interest payable
(2,604,000) 2,069,000 Other income
282,578,000 282,204,000 Other expenses
(233,126,000) (311,054,000) Profit(loss) before taxation
148,749,000 1,107,000 Change in deferred tax assets
2,970,000 (119,000) Change in deferred tax liabilities
2,671,000 (1,223,000) Current
income tax (29,596,000)
(1,507,000) Net
Profit(loss) 118,854,000 765,000 |
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SPECIAL
REMARKS
|
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INTERVIEWED
|
Tatyana
Filippova (Purchasing Manager). |
COMMENTS
|
You enquired on: ZAO ECO RESOURCE.
Please note that this name applies to subject’s former name. Subject’s current
registered name is as per heading. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.87 |
|
|
1 |
INR 90.49 |
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Euro |
1 |
INR 79.91 |
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RUB |
1 |
INR 1.13 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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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.