Information agency Credinform prepared a ranking of the largest Russian rolling-stock manufacturers. Companies with the highest volume of revenue (TOP-10) were selected for this ranking according to the data from the Statistical Register for the latest available periods (2016 and 2015). The enterprises were ranked by collection period ratio (Table 1). The analysis was based on data from the Information and Analytical system Globas.
Collection period (days) is calculated as ratio of the average balance of accounts receivable to total net sales. The ratio represents how much days during the year it took the company to repay the average amount of its accounts payable.
This figure indicates the process of debt recovery to counterparties. The ratio is calculated for the assessment of cash flows that makes possible to conclude about the operating efficiency of a company and selected financial strategy.
The lower is the indicator, the faster the enterprise settles accounts with its suppliers. The increase in turnover can mean both problems with paying bills, and more effective organization of relationships with suppliers, providing more profitable, deferred payment schedule and using payables as a source of cheap financial resources.
Taking into account the actual situation both in economy in general and in the sector, the experts of the Information agency Credinform have developed and implemented in the Information and Analytical system Globas the calculation of practical values of financial ratios, which can be recognized as normal for a particular industry. The practical value for rolling-stock manufacturers is up to 183,77 days.
For the most complete and objective view of the financial condition of the enterprise it is necessary to pay attention to the complex indicators and financial ratios of the company.
|Name, INN, region||Net profit, mln RUB||Revenue, mln RUB||Collection period ratio 2015, days||Solvency index Globas|
|CJSC "Management Company" Bryansk Machine Building Plant"
INN 3232035432 Bryansk region
|716,4||-378,5||20 592,3||25 300,5||52,55||258 High|
|LLC PC “Novocherkassk Electric Locomotive Plant”
INN 6150040250 Rostov region
|1 689,5||1 058,3||19 550,4||19 636,1||56,60||230 High|
INN 5029006702 Moscow region
|1 004,3||2 367,6||15 933,6||26 327,9||64,90||232 High|
INN 6672337623 Sverdlovsk region
|74,6||152,3||15 376,8||1 870,6||84,84||254 High|
|CJSC HOLDING COMPANY KOLOMENSKIY PLANT
INN 5022013517 Moscow region
|513,5||460,7||13 413,1||14 234,6||85,95||234 High|
|LLC URAL LOCOMOTIVE
INN 6606033929 Sverdlovsk region
|-219,9||378,3||23 135,4||28 291,8||96,47||252 High|
|CJSC Tikhvin Freight Car Building Plant
INN 4715019631 Leningrad region
|-2 942,6||2 639,0||30 816,1||41 780,3||108,25||258 High|
|PJSC Tver Wagon-Building Plant
INN 6902008908 Tver region
|52,2||-199,4||14 907,5||17 670,1||122,85||298 High|
INN 7715729877 Moscow
|-1 044,5||103,4||30 464,8||32 703,8||129,64||274 High|
|CJSC Kaluga Plant Remputmash
INN 4029032450 Kaluga region
|161,3||127,3||22 692,4||22 612,9||217,82||258 High|
|Total for TOP-10||4,8||6 709,1||206 882,4||244 428,5|
|Average value for TOP-10 companies||0,5||670,9||20 688,2||24 442,9||101,99|
|Average value for industry||-19,0||n/d||645,6||n/d||183,68|
Collection period of TOP-10 companies is higher than industry average. Five companies in the TOP have reduced revenue and net profit figures or have losses (marked with red in columns 3 and 5 of Table 1) in 2016 compared to the previous period.
The average values of collection period in the period of 2006-2015 demonstrate a tendency towards slowdown (Picture 2).
All TOP-10 companies got high Solvency index Globas, which indicates their ability to timely and fully repay their debt obligations.
Information agency Credinform has prepared a ranking of the largest Russian manufacturers of detergents, perfumery and cosmetics. The enterprises with the largest volume of annual revenue (TOP-10) have been selected for the ranking, according to the data from the Statistical Register for the latest available accounting periods (2016 and 2015). Then they have been ranked by leverage ratio (Table 1). The analysis was based on the data from the Information and Analytical system Globas.
Leverage ratio (or a ratio of debt and equity) is one of one of financial stability ratios. These ratios demonstrate potential opportunity of granting of long-term loans or investment, as they assess the company’s ability to meet its long-term obligations. Leverage ratio (Lr) is a ratio of total debt to total equity, and it indicates the number of units of company’s borrowings for every unit of its own source of financing.
Its recommended value is from 0 to 1. The ratio of debt and equity should not be negative, so a ratio value within the limit is one of the indicators that the company is able to meet its obligations.
A calculation of practical values of financial ratios, which might be considered as normal for a certain industry, has been developed and implemented in the Information and Analytical system Globas by the experts of the Information Agency Credinform, having taken into account the current situation in the economy as a whole and in the industries. The practical value of leverage ratio for manufacturers of detergents, perfumery and cosmetics amounted from 0 to 5,55 in 2015.
The whole set of financial indicators and ratios of a company is to be considered to get the fullest and fairest opinion about the company’s financial standing.
|Name, INN, region||Net profit, mln RUB||Revenue, mln RUB||Leverage ratio (Lr 0≤(x)<1)||Solvency index Globas|
|NPJSC NEVSKAYA COSMETICA
INN 7811038047 Saint Petersburg
|3 007,0||3 083,9||12 737,6||13 548,7||0,10||0,07||148 Superior|
|PROCTER AND GAMBLE NOVOMOSKOVSK LLC
INN 7101006354 Tula region
|-208,3||2 345,8||29 655,4||35 903,5||0,60||0,56||212 High|
|RECKITT BENCKISER LLC
INN 7705495411 Moscow
|714,6||1 142,2||20 452,3||20 191,9||0,86||0,65||191 Superior|
INN 5001026970 Moscow
|3 097,5||1 823,2||12 782,4||20 616,9||0,59||0,88||186 Superior|
|HENKEL RUS LLC
INN 7702691545 Moscow
|5 745,9||5 122,2||57 133,1||63 682,9||1,39||0,91||196 Superior|
INN 7726059896 Moscow
|2 001,8||3 323,1||42 395,4||48 503,5||1,19||1,21||173 Superior|
INN 2631006752 Stavropol terrirory
|567,7||600,4||6 913,5||8 895,1||1,30||1,24||180 Superior|
|NEFIS COSMETICS NPJSC - Kazan Chemical Plant named after M. Vakhitov (Soap and Candle Plant #1 of former Krestovnikovs)
INN 1653005126 Republic of Tatarstan
|139,1||777,6||12 882,6||18 048,4||3,88||2,79||208 High|
|NTS GRADIENT LLC
INN 7720125736 Moscow
|77,4||169,7||14 163,1||16 078,8||13,93||9,58||228 High|
INN 7715503132 Moscow region
|6,9||6,9||99,6||8 468,5||2,35||51,24||231 High|
|Total for TOP-10 companies||15 149,4||18 394,9||209 215,0||253 938,1|
|Average value of TOP-10 companies||1 514,9||1 839,5||20 921,5||25 393,8||2,62||6,91|
|Industry average value||16,8||249,0||1,12|
Leverage ratio of TOP-10 companies is higher than the average industry value. Five companies of TOP-10 have a ratio value within the recommended figures, three companies have index value within the practical value, and two companies have a value above the limit of recommended value (green, orange and red colors respectively in columns 6 and 7 of Table 1 and Picture 1). Three of TOP-10 companies have a decrease in revenue or net profit as compared to the prior period (red highlight in columns 3 and 5 of Table 1).
Industry average values of leverage ratio in 2006-2015 are within the recommended and practical value (Picture 2). This represents the companies of the sector as financially stable and investment attractive ones.
All TOP-10 companies have got a superior or a high solvency index Globas, that indicates their ability to meet debt obligations timely and in full.