This is official banner of the LATVENERGO, the State-run utility company. I would date it ca.1955-1975.
People actually marched under this very banner at all the important Soviet holidays, and when not in use, it was stashed away in the company director's office, or some place where it wouldn't get vandalized by the grateful Latvians.
The quality of the workmanship is quite staggering, with all the decorations finely embroidered, down to the last wrinkle on Uncle Lenin's face. No transfer applications here!
Condition is quite sound, with a couple of dirty spots. Banner has survived quite well, with no moth holes, unlike the regime it was meant to celebrate.
It's a very heavy piece, and would display equally well in a flag collector's study, or in a room of a Greenwich Village communist.