Uzbekistan, Tashkent, May 17 / Trend, D. Azizov /
The net profit of the Uzbek-Russian joint venture Uzelektroapparat-Electroshit, one of the largest manufacturers of electrical products in Uzbekistan grew by 18.8 percent to 8.9 billion soum in 2012, according to the company's balance sheet.
According to the report, net revenues increased by 30.5 percent to 135.3 billion soum, cost price- by 31.1 percent to 98.5 billion soum.
Gross profit for last year amounted to 36.8 billion soum, increasing by 28.8 percent. The enterprise's expenditures grew by 27 percent to 22.95 billion soum.
The assets of the joint venture Uzelektroapparat-Electroshit for the year increased by 27.6 percent to 100.7 billion soum, including long-term assets with a 34.7 percent increase (to 17.4 billion soum) and current assets - a 24.6 percent increase (to 83.4 billion soum).
Liabilities of the company increased by 24.7 percent to 62.55 billion soum.
The company's own funds amounted to 38.19 billion soum in early 2013 against 28.78 billion soum in the previous year (a 32.7 percent growth). 868.771 million soum in the structure of own funds accounts for the authorized capital, 32.29 billion soum - undistributed profit of previous years, the volume of which increased in 2012 by 33.3 percent.
The enterprise was established in 1941 as the Elektrostanok factory and was evacuated to Tashkent. In 1946, Elektrostanok and the factory "High frequency currents" were combined into the Tashkent Electrotechnical Plant.
In 2000, two joint ventures were established at the Tashkent Electrotechnical Plant - Tashelektroapparat and JV Uzelektroapparat JSC.
In 2006, JV Tashelektroapparat and JV Uzelektroapparat became a part of Group of companies Electroshit-TM Samara JSC under the name of JV Uzelektroapparat-Electroshit.
The enterprise specializes in the production of low-voltage control circuits and low-voltage equipment, manufactures electrical equipment and offers design services for the electrical part of the project, commissioning of the manufactured equipment, occupying 80 percent of the domestic market of electrical products in Uzbekistan.