Stavropol company "Monocrystal", one of the world's largest producers of artificial sapphires for electronics, intends to file for bankruptcy. This is reported by "Kommersant" with reference to a notification in Fedresurs.
The company's short-term liabilities at the end of 2025 exceeded current assets by 3.7 billion rubles. AO "Agroholding Energomera" is listed as the creditor in the application. "Monocrystal" is part of the "Energomera" concern; its president, Vladimir Polyakov, owns 86.1% of the parent company and 81.8% of the factory.
Synthetic sapphire is used in the production of glass for smartphones, smartwatches, and in the fiber optic industry. As of the end of 2022, "Monocrystal" occupied a third of the global market. The company's annual revenue then amounted to 6.4 billion rubles, showing a 17 percent increase due to sales to China and the development of the LED market.
However, by 2025, the situation had changed dramatically. Revenue fell by more than 500 million rubles – from 1.8 billion to 1.2 billion. The staff was reduced by 250 people, now 512 people work at the enterprise. The company's assets decreased from 15.7 billion to 13.3 billion rubles, short-term borrowings increased to 5.15 billion, and long-term liabilities exceeded 9.4 billion rubles.
The management of "Monocrystal" explains the deterioration of the situation by disruptions in raw material supplies, the closure of the European market, a decrease in demand for electronics in Asia, and damage to the factory in the Belgorod region as a result of shelling in May 2023.
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