Information agency Credinform represents the ranking of the largest Russian automotive companies. The automobile manufacturers with the largest volume of annual revenue (TOP-10) were selected for the ranking, according to the data from the Statistical Register for the latest available periods (for 2015 - 2017). Then they were ranked by current assets to equity ratio (Table 1). The analysis was made on the basis of the data of the Information and Analytical system Globas.

Current assets to equity ratio (х) characterizes company’s ability to maintain the level of own working capital and to finance current assets with own sources. The ratio is calculated as the relation of own current assets of a company to total value of equity. The recommended value is in the range from 0,2 up to 0,5.

Decrease in the ratio indicates a possible slowdown in payment of receivables or tightening of conditions for granting trade credit from suppliers and contractors. The increase points to the growing opportunity to pay off current liabilities.

The experts of the Information agency Credinform, taking into account the actual situation both in the economy as a whole and in the sectors, has developed and implemented in the Information and Analytical system Globas the calculation of practical values of financial ratios that can be recognized as normal for a particular industry. For automobile manufacturers the industry average practical value of the current assets to equity ratio made from 0,41 up to 1,00 in 2017.

For getting of the most comprehensive and fair picture of the financial standing of an enterprise it is necessary to pay attention to all combination of indicators and financial ratios.

Table 1. Net profit, revenue, current assets to equity ratio, solvency index Globas of the largest Russian automotive companies (TOP-10)

Name, INN, region, type of activity	Revenue, billion RUB		Net profit (loss), billion RUB		Current assets to equity ratio (x), from 0,2 up to 0,5		Solvency index Globas
	2016	2017	2016	2017	2016	2017
1	2	3	4	5	6	7	8
AVTOVAZ PJSC INN 6320002223 Samara region Car production	190,0	233,8	-35,5	-12,4	3,02	2,43	267 Medium
FORD SOLLERS HOLDING LLC INN 1646021952 Republic of Tatarstan Manufacture of motor vehicles	53,9	67,1	-23,8	-13,6	2,74	1,98	311 Adequate
ELLADA INTERTREID LLC INN 3906072056 Kaliningrad region Manufacture of motor vehicles	83,2	135,7	3,4	7,8	-0,15	0,82	207 Strong
HYUNDAI MOTOR MANUFACTURING RUS LLC INN 7801463902 St. Petersburg Manufacture of motor vehicles	116,9	151,2	5,9	6,7	-0,04	0,12	209 Strong
RENAULT RUSSIA NJSC INN 7709259743 Moscow Manufacture of motor vehicles	94,6	126,2	-2,6	3,1	-0,38	-0,07	219 Strong
KAMAZ PJSC INN 1650032058 Republic of Tatarstan Truck production	120,8	145,2	1,2	3,0	-0,45	-0,59	192 High
NISSAN MANUFACTURING RUS LLC INN 7842337791 St. Petersburg Manufacture of motor vehicles	96,7	105,8	-13,8	-7,6	-0,43	-1,14	284 Medium
VOLKSWAGEN GROUP RUS LLC INN 5042059767 Kaluga region Manufacture of motor vehicles	191,1	237,6	-5,6	5,3	-2,40	-1,36	237 Medium
LADA IZHEVSKII AVTOMOBILNYI ZAVOD LLC INN 1834051678 Udmurtian Republic Manufacture of motor vehicles	45,2	52,3	0,0	-0,9	-3,71	-5,83	324 Adequate
AVTOMOBILNYI ZAVOD GAZ LLC INN 5250018433 Nizhny Novgorod region Manufacture of internal combustion engines of motor vehicles	75,2	85,2	0,5	0,1	-4,44	-14,14	219 Medium
Total by TOP-10 companies	1067,5	1340,2	-70,2	-8,4
Avearge value by TOP-10 companies	106,7	134,0	-7,0	-0,8	-0,63	-1,78
Industry average value	0,8	1,0	-0,02	-0,04	-1,62	-3,18

— improvement of the indicator to the previous period, — decline in the indicator to the previous period.

The average value of the current assets to equity ratio of TOP-10 enterprises is above industry average, but below recommended and practical values. Four companies from the TOP-10 list improved the indicators in 2017 compared to the previous period.

Picture 1. Current assets to equity ratio and revenue of the largest Russian automotive companies (TOP-10)

The industry average indicators of the current assets to equity ratio have a downward trend over the course of 10 years (Picture 2).

Picture 2. Change in the industry average values of the current assets to equity ratio of Russian automotive companies in 2008 – 2017

62 articles on economic offences are covered under chapter 22 of the Tax Code of Russia. The following four of them are focused on fiscal offences:

Article 198. Evasion of taxes, fees payable by natural person, and (or) insurance premium payments due from individual payer;

Article 199. Evasion of taxes, fees payable by the company, and (or) insurance premium payments due from public payer;

Article 199.1. Breach of tax agent duties;

Article 199.2. Concealment of funds or assets of the company or individual entrepreneur, which should be used to collect tax in default, fees, insurance premium payments.

According to the Judicial Department at the Supreme Court of the Russian Federation , 273 sentences under these articles were given for 6 month of 2018.

It is worth reminding the content of the articles and punishments for offences:

If those committed crimes under these articles for the first time, they will be exempted from criminal liability in case of payment of arrears and corresponding penalties in full, as well as fine at the amount determined by the Tax Code of the Russian Federation.