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Current ratio of Russia’s coal mining companies
Credinform Information Agency is coming with the ranking release of coal mining companies upon their current ratio (liquidity ratio). Ten Russian companies of coal mining industry with the largest sales revenue (as by Statistics Register 2011) were selected. They were first ranged upon the turnover and then upon their current ratios.
The current ratio shows which part of current assets is to be taken to discharge current liabilities, and is calculated as current assets/liabilities correlation. This ratio helps investors to evaluate and to expect certain business performance as well as the chance of getting bankrupt. The ideal ratio value is between 2 to 3 but when analyzing, it is better to consider the current ratio together with other financial indicators such as liquidity ratio and insolvency level.
| № | Company Tax-number (INN) | Region | Turnover in 2011, mln RUB | Current ratio, % | GLOBAS-i® solvency index |
|---|---|---|---|---|---|
| 1 | "Chernigovets" JSC INN: 4203001913 | Kemerovo Region | 16 320,19 | 4,65 | 193 (highest) |
| 2 | OJSC "Mine "Zarechnaya" INN: 4212005632 | Kemerovo Region | 18 717,93 | 2,63 | 257 (high) |
| 3 | CJSC "Stroyservis" INN: 4234001215 | Kemerovo Region | 43 169,13 | 2,28 | 202 (high) |
| 4 | JSC Obyedinennaya Ugol’naya companiya Uzhkuzbasugol’INN: 4216008176 | Kemerovo Region | 43 169,13 | 2,28 | 202 (high) |
| 5 | JSC Vorkutaugol INN: 1103019252 | The Komi Republic | 35 167,76 | 2,15 | 209 (high) |
| 6 | OJSC "Kuzbasskaya Toplivnaya Company" INN: 4205003440 | Kemerovo Region | 20 683,52 | 1,51 | 176 (high) |
| 7 | Vosibuglesbyt LLC INN: 3808168112 |
Irkutsk region | 13 949,18 | 1,3 | 272 (high) |
| 8 | OJSHC Yakutugol INN: 1434026980 | The Sakha (Yakutia) Republic | 34 558,49 | 0,64 | 242 (high) |
| 9 | JSC "Coal company "Kuzbassrazrezugol" INN: 4205049090 | Kemerovo Region | 60 858,94 | 0,6 | 210 (high) |
| 10 | OJSC SUEK-Kuzbass INN: 4212024138 | Kemerovo Region | 33 306,46 | 0,41 | 265 (high) |
"Chernigovets" JSC holds the top line, with current ratio 4,65% higher than the ideal value – current assets exceed current liabilities here. The greatest deal of current assets goes for financial investments and receivables, i.e. liquid real assets. This is a clear sign that the company has a positive financial result – a proof comes from GLOBAS-i® highest solvency index, too.
Four companies – OJSC "Mine " Zarechnaya ", CJSC "Stroyservis", JSC Obyedinennaya Ugol’naya companiya Uzhkuzbasugol’ and JSC Vorkutaugol – made their current ratio reach the ideal value – they also got GLOBAS-i® high solvency index.
Five companies – OJSC "Kuzbasskaya Toplivnaya Company", Vosibuglesbyt LLC, OJSHC Yakutugol, JSC "Coal company "Kuzbassrazrezugol" and OJSC SUEK-Kuzbass – have their current ratio lower than the ideal value – current assets either do not exceed current liabilities – in case they do, the difference is rather small. However, OJSC "Kuzbasskaya Toplivnaya Company" got GLOBAS-i® highest solvency index, while the rest of the companies got high index. It is therefore absolutely necessary to take a comprehensive approach in order to make a right evaluation of company’s financial stability – relying on one indicator will most certainly make the evaluation go false.