MIRA INFORM REPORT

 

 

Report No. :

510878

Report Date :

26.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

UNIMAC AZ MMC

 

 

Registered Office :

Ziya Bunyadov Avenue 2075 Mahalla, Narimanov District, Baku AZ1029

 

 

Country :

Azerbaijan

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

01.07.2013

 

 

Com. Reg. No.:

1106-T19-4143

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading as importers, wholesalers and retailers of building materials and related instruments such as welding machines, measuring devices, lifting devices, ladders and chemical products.

 

 

No. of Employees :

150

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

 

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

 

Maximum Credit Limits :

NEW MANAT 300,000

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Azerbaijan

B2

B2

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

 

AZERBAIJAN - ECONOMIC OVERVIEW

 

Prior to the decline in global oil prices since 2014, Azerbaijan's high economic growth was attributable to rising energy exports, and some non-export sectors also featured double-digit growth. Oil exports through the Baku-Tbilisi-Ceyhan Pipeline, the Baku-Novorossiysk, and the Baku-Supsa Pipelines remain the main economic driver, but efforts to boost Azerbaijan's gas production are underway. The expected completion of the geopolitically important Southern Gas Corridor between Azerbaijan and Europe will open up another source of revenue from gas exports. Declining oil prices caused a 3.1% contraction in GDP in 2016, and a 0.8% decline in 2017, highlighted by a sharp reduction in the construction sector. The economic decline has been accompanied by higher inflation and a weakened banking sector in the aftermath of the two sharp currency devaluations since 2015. Azerbaijan’s financial sector continued to struggle in 2017. In May 2017, Baku allowed the state-owed International Bank of Azerbaijan (IBA), the nation’s largest bank, to default on some of its outstanding debt and file for bankruptcy in the US.

Azerbaijan has made limited progress with market-based economic reforms. Pervasive public and private sector corruption and structural economic inefficiencies remain a drag on long-term growth, particularly in non-energy sectors, but the government has made efforts to combat corruption, particularly in customs and with the “ASAN” one-stop window concept for government services. Several other obstacles impede Azerbaijan's economic progress, including the need for more foreign investment in the non-energy sector and the continuing conflict with Armenia over the Nagorno-Karabakh region. While trade with Russia and the other former Soviet republics remains important, Azerbaijan has expanded trade with Turkey and Europe and is seeking new markets for non-oil/gas exports, mainly from the agricultural sector, for example with Gulf Cooperation Council member countries, the US, and others.

Long-term prospects depend on world oil prices, Azerbaijan's ability to implement export routes for its growing gas production, and its ability to improve the business environment and diversify the economy. In late 2016, the President approved a strategic roadmap that identified key non-energy segments of the economy for development, such as agriculture, logistics, and tourism. In October, the long-awaited Baku-Tbilisi-Kars railway, stretching from the Azerbaijani capital to Kars in north-eastern Turkey, began limited service.

 

Source : CIA

 

 

 

COMPANY NAME

 

UNIMAC AZ MMC (CORRECT)

UNIMAC AZ MMC (WERSJA ANG UNIMAC AZ LLC) (REQUESTED)

 

 

ADDRESS

 

Street     : Ziya Bunyadov Avenue, Quarter 2075

 

Area       : Darnagul Highway, Narimanov District

 

Town       : Baku AZ1108

Country    : Azerbaijan

 

Telephone  : (994 12) 448 2626  / 566 1329 (Showroom) / Mobile (994 50) 278 5890 / (994 50) 286 3422 (Showroom) / (994 50) 319 4968 (Elshad Bayramov)

Fax        : (994 12) 448 2626

E-Mail     : e.bayramov@unimac.az / immarka@gmail.com

Website    : www.unimac.az

 

Trading Style  : Unimac

 

Extended Name  : Unimac AZ Mehdud Mesuliyyetli Camiyyeti

 

English Translation : Unimac AZ LLC

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Ilqar Bakhadur Oglu Ismayilov            Managing Director

2. Elshad Bayramov                              Financial Manager

 

Total Employees: 150

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

Subject is a member of Universal Group of Companies.

 

We consider it is acceptable to deal with subject for MEDIUM amounts, although it is normal accepted practice for international suppliers to deal on secured terms with Azerbaijani importers.

 

Opinion on maximum credit: NEW MANAT 300,000

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKERS

 

NAME     : PASHA BANK OJSC

 

Branch   : Yusif Mammadaliyev Street 15

Town     : Baku AZ1005

 

Telephone: (994 12) 496 5000

Fax      : (994 12) 496 5010

 

Subject formerly had an account with :

 

Yapi Kredi Bank Azerbaijan QSC

28 May Street 5

Baku AZ1014

Telephone: (994 12) 497 7795

Fax      : (994 12) 497 0276

 

 

FINANCIAL INFORMATION

 

Income Statement as at 31 December 2017 showed :

                                                          

                                                          31/12/2017

                                                       (in NEW MANAT)

 

Total sales                                               15,216,922  

Sales deductions                                              (2,305)  

Net sales                                                 15,214,617

Cost of sales                                            (11,955,688)  

Gross profit                                               3,258,929  

Total expenses                                            (1,862,560)  

Including:

Administrative expenses                                     (709,756)  

Operating  expenses                                         (366,154)  

Human resources                                             (126,840)  

Marketing expenses                                           (17,741)  

IT expenses                                                   (1,008)   

Amortization expenses                                        (32,580)  

Distribution expenses                                       (508,025)  

Logistics expenses                                           (37,445)  

Transportation expenses                                      (63,011)  

Net profit                                                 1,396,369   

 

Historical Profit and Loss Account

 

Net Sales Turnover        : NEW MANAT 10,000,000 - 2014 - approx

                                                : NEW MANAT  6,000,000 - 2015 – approx *

                                                : NEW MANAT 10,251,763 - 2016 – exact

                                                : NEW MANAT 15,214,617 – 2017 – exact

                                                : NEW MANAT  3,500,000 – 2018 – exact **

                                                : NEW MANAT 16,000,000 – 2018 – projected  

                       

Net Profit                      : NEW MANAT    777,159 – 2016 – exact  

                                                : NEW MANAT  1,396,369 – 2017 – exact

 

* 8 months results (January - August).

 

** 3 months results (January - March).

 

Financial year ends 31 December.

 

The following financial information applies to Universal Pro MMC :

 

Sales Turnover              : NEW MANAT 7,000,000 - 2017 – approx

                                                : NEW MANAT 8,000,000 – 2018 – projected 

 

Net Profit                      : Not given but stated to be 10% of the sales turnover

 

Financial year ends 31 December.

 

The following financial information applies to Universal AZ MMC (latest available) :

 

Sales Turnover              : NEW MANAT 3,000,000 - 2014 - approx                       

 

Net Profit                      : Not given but stated to be 10-15% of the sales turnover   

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 1 July 2013

 

History : The subject company was established in Baku on 1 July 2013.

 

C.R. No.: 1106-T19-4143

 Tax No.: VOEN 1502344801 

 

Authorised Capital : NEW MANAT 10

 

Paid-Up Capital : NEW MANAT 10

 

Mehdud Mesuliyyetli Cemiyyeti (limited liability company)

with the following sole shareholder:

 

Ilqar Bakhadur Oglu Ismayilov               100%

 

Affiliated companies of the subject company :

 

Associates

 

Subject is a member of Universal Group of Companies, which includes the following companies:

 

1. Leading Supply Solutions MMC

   Ziya Bunyadov Avenue, Quarter 2075

   Darnagul Highway, Narimanov District

   Baku AZ1108

   Telephone: (994 12) 448 2626 

   Fax      : (994 12) 448 2626 

   Managing Director: Bakhadur Logman Oglu Alizada

   Est.: 14 February 2013

   Tax No.: VOEN 1802002961 

   Capital : NEW MANAT 40 (increased from NEW MANAT 20) 

   Sole Shareholder:

               - Ilgar Bakhadur Oglu Ismayilov             

 

2. Universal Pro MMC

   Alasgar Qaibov Street 10Q

   Narimanov District

   Baku AZ1029

   Managing Director: Adalat Musafar Oglu Bakhishov

   Est.: 8 February 2016

   Tax No.: VOEN 1503110981

   Capital : NEW MANAT 1,000

   Shareholders: 

            - Ilqar Bakhadur Oglu Ismayilov            50%             

            - Javid Musa Oglu Ismayilov                50%

 

Former Associates

 

1. Universal Makina MMC

   Ziya Bunyadov Avenue, Quarter 2075

   Darnagul Highway, Narimanov District

   Baku AZ1108

   Telephone: (994 12) 490 4209 / 496 4747 / 514 1946 / 490 3512 /

   490 3515 / (994 50) 250 2272 / (994 50) 592 4802 / (994 50) 287

   0023 / (994 50) 230 3301

   Fax      : (994 12) 496 4747 / 490 3512

   Managing Director : Ilqar Bahadur Oglu Ismayilov

   Employees: 113

   Est.: 23 June 2006

   C.R. No.: 1106-T19-4143

   Tax No.: VOEN 1000889131  

   Capital : NEW MANAT 10,000

   Shareholders:

           - Ilqar Bahadur Oglu Ismayilov - 50%

             (Azerbaijani national)

           - Uzun Salih                   - 50%

  (Registered address: Mir Jalal 9A Micro District 11, Flat 39

   Binagadi District, Baku AZ1134)

 

2. Universal AZ MMC

   Ziya Bunyadov Avenue, Quarter 2075

   Darnagul Highway, Narimanov District

   Baku AZ1108

   Telephone  : (994 12) 447 0044 / Mobile (994 50) 234 3484 / (994

   50) 250 2272 (Sevil Khasanova) / (994 50) 250 2262 (Ilmar Aybatov)                               

   Fax        : (994 12) 447 0044

   E-Mail     : info@universal-az.com / accounting1@universal-az.com

   Website    : www.universal-az.com

   Managing Directors: Ilqar Bkahadur Oglu Ismayilov  

   Est.: 18 January 2013

   Tax No.: VOEN 1502227771

   Capital : NEW MANAT 20

   Sole Shareholder:

           - Ilqar Bakhadur Oglu Ismayilov           

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers, wholesalers and retailers of building materials and related instruments such as welding machines, measuring devices, lifting devices, ladders and chemical products.

 

NACE Codes: 4613 / 4669

 

Imports from Poland, France, Germany, Russia, Ukraine, China, UAE (Dubai), Belarus, Belgium and Turkey.

 

Subject does not export, all sales are domestic.

 

Subject closely cooperated with the following entrepreneurs:

 

1. Namig Mirzoshurafovich Hakimov

   R. Ismayilov Street 9, Flat 1

   Binagadi District

   Baku

   Telephone: (994 12) 514 1946 (Elshad Bayramov) / 490 4209 / 566

   2922 ext. 108 (Elshad Bayramov) / 496 4747 / Mobile (994 50) 319

   4968 (Elshad Bayramov) / (994 50) 250 2272 (Sevil Hasanova)

   Fax      : (994 12) 490 3512 / 496 4747

   E-Mail   : e.bayramov@universalgroup.az

   Est.: 27 September 2006

   Tax No.: VOEN 1000957452

 

2. Kudret Aliyev

   Ziya Bunyadov Avenue, Quarter 2075

   Darnagul Highway, Narimanov District

   Baku

 

3. Ismayilzade Suleyman Sahib Oglu

   Ziya Bunyadov Avenue, Quarter 2075

   Darnagul Highway, Narimanov District

   Baku AZ1108

   Telephone: (994 12) 514 1946 (Elshad Bayramov) / 490 4209 / 566 

   2922 ext. 108 (Elshad Bayramov) / 496 4747 / Mobile (994 50)
   319 4968 (Elshad Bayramov) / (994 50) 250 2272 (Sevil Hasanova) /

   (994 50) 355 6023

   Fax      : (994 12) 490 3512 / 496 4747 / 514 1946

   Est.: 2 March 2010

   Tax No.: VOEN 1901011522

   Capital : not applicable

   Sole Shareholder: Ismayilzade Suleyman Sahib Oglu

 

 

FACILITIES

 

The Company has the following facilities :

 

Owned office premises, a showroom styled “Unimac” and storage facilities located at the heading address as well as two retail outlets (30 sq. m. each) located elsewhere in Sadarak Market and Baksu District, Baku.

 

Subject formerly used the following telephone numbers:

 

Telephone  : (994 12) 566 2922

Fax        : (994 12) 566 2922

 

 

REGISTERED OFFICE

 

Ziya Bunyadov Avenue 2075 Mahalla

Narimanov District

Baku AZ1029

 

 

SPECIAL NOTES

 

You enquired on : UNIMAC AZ MMC (WERSJA ANG UNIMAC AZ LLC). Please note that the correct name is as per heading.  

 

Interviewed: Elshad Bayramov (Financial Manager).

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.26

UK Pound

1

INR 91.22

Euro

1

INR 79.88

AZN

1

INR 39.78

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

NIT

 

 

 

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

NB

New Business

No recommendation can be done due to business in infancy stage

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)

 

 

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.