Sayanskkhimplast

Performance indicators

2024: Profits cut 100 times to ₽20,73 million

Net profit of Sayanskhimplast JSC in 2024 decreased by more than 100 times and amounted to ₽20,73 million. In 2023, the figure exceeded ₽2 billion. The revenue of the largest Russian manufacturer of polyvinyl chloride during the reporting period decreased by 8.6% and reached ₽23,307 billion. The corresponding data are reflected in the company's financial statements under RAS, published in April 2025.

According to Interfax, the cost of production of Sayanskkhimplast decreased by 1.7% to ₽17,97 billion. At the same time, the company's gross profit fell by 26% and amounted to ₽5,33 billion, and profit from sales decreased 5.5 times - to ₽574,55 million.

𝓲

Фото: Freepik

At the same time, other expenses of the enterprise in the reporting year increased 1.7 times and reached ₽453,6 million.

In the comments to the financial statements, Sayanskhimplast notes that the utilization of production facilities for the production of polyvinyl chloride in 2024 amounted to 92.9%, which is higher than in 2023 (84.2%). Despite the increase in loading, production was constrained by infrastructure restrictions - it was difficult to deliver goods to customers in a timely manner due to the high load of the Eastern landfill of Russian Railways.

The company presented a forecast according to which, against the background of tightening mortgage policy and a possible decrease in the number of new projects in construction, the demand for polyvinyl chloride in 2025 will be lower than in 2024.

Sayanskkhimplast JSC supplies polyvinyl chloride to more than 80 consumers, most of whom are located in Russia.

For comparison, in 2023 the company received a net profit under RAS in the amount of ₽2,088 billion with revenue of ₽25,499 billion.

Sayanskkhimplast JSC specializes in the production of polyvinyl chloride, which is widely used for the manufacture of structural, construction and insulation materials. The company is a key supplier of this raw material in the Russian market.^[1]

History

2025: Nationalization of the enterprise

The Khamovnichesky District Court of Moscow seized in favor of the state the assets of Sayanskkhimplast JSC worth more than ₽92 billion. This became known at the end of May 2025. The largest producer of polyvinyl chloride in Russia was nationalized at the suit of the Prosecutor General's Office to the actual owner of the enterprise - ex-speaker of the Legislative Assembly of the Irkutsk region Viktor Kruglov and members of his family.

According to Forbes, judge Natalya Sheveleva made a decision after two court hearings, at which she heard the arguments of the parties. The decision made at the request of the prosecutor turned to immediate execution. The Prosecutor General's Office asked the court to turn into state revenue the shares and shares of Sayanskhimplast JSC and related companies with a total value of ₽92,4 billion.

𝓲

Фото: Freepik

Every year, Sayanskkhimplast produces 250 thousand tons of raw materials, which is 30% of the total production of polyvinyl chloride in Russia, according to the lawsuit of the Prosecutor General's Office. The company is the largest in the country for the production of this type of chemical products.

In addition to Viktor Kruglov, the defendants in the lawsuit were his wife Irina Kruglova, children Anna and Alexander, as well as the former first deputy head of the Irkutsk region administration and ex-general director of the enterprise Nikolay Melnik. They did not recognize the lawsuit. None of the defendants arrived in court, and their interests were represented by lawyers in a closed process.

The court found the arguments of the Prosecutor General's Office justified and satisfied the claim, turning the decision to immediate execution. The plaintiff in his statement noted that Kruglov in recent years refused to modernize production and began to withdraw the plant's funds under the guise of dividends. The size of dividends increased from ₽5,5 billion in 2022 to ₽13,9 billion in 2023.

The lawsuit says Kruglov combined business and public service. From 2000 to 2016, he was a deputy from United Russia in the Legislative Assembly of the Irkutsk Region, was a member of the Committee on Property and Economic Policy. In 2004-2008, he headed the regional parliament.

The prosecutor's office believes that Kruglov used his deputy status for personal enrichment, creating preferences and non-competitive advantages for his own business.^[2]

Notes