MIRA
INFORM REPORT
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Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ATLAS CONVERTING EQUIPMENT LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.09.1976 |
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Com. Reg. No.: |
01276725 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacture of other general purpose machinery not elsewhere classified |
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No. of Employees : |
127 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
Atlas Converting Equipment Ltd.
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Business Description
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Converting Equipment Mfr |
Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
2499 - Other Machinery and Equipment
Manufacturing Not Elsewhere Classified |
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NACE 2002: |
2924 - Manufacture of other general
purpose machinery not elsewhere classified |
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NAICS 2002: |
33399 - All Other General Purpose
Machinery Manufacturing |
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2924 - Manufacture of other general
purpose machinery not elsewhere classified |
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US SIC 1987: |
3569 - General Industrial Machinery and Equipment,
Not Elsewhere Classified |
Key Executives
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Financial Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6475734
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6387123
Corporate Overview
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Corporate Structure News
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Atlas Converting
Equipment Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
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Miscellaneous Capital Goods |
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Subsidiary |
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Miscellaneous Capital Goods |
35.4 |
127 |
Executives Report
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Directors and Shareholders Report
Annual Return Date: 31 May 2011
Total Issued Capital (GBP 000): 529
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
07 Nov 1953 |
4 Valerian Close, Eaton Ford, |
25 Oct 2010 |
NA |
Current:3 |
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Current |
19 Nov 1959 |
Chapel House Chapel Lane, |
25 Oct 2010 |
NA |
Current:2 |
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Current |
30 Sep 1958 |
24 West Perry, |
25 Oct 2010 |
NA |
Current:2 |
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Current |
09 Feb 1959 |
Millwood House Church Road, |
25 Oct 2010 |
NA |
Current:2 |
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Previous |
01 Jul 1929 |
18 Elgood Avenue, Northwood, |
12 Jun 1991 |
08 Dec 1997 |
Current:0 |
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Previous |
23 Nov 1940 |
Shillington Manor Apsley End Road, Shillington, |
12 Jun 1991 |
01 Nov 1999 |
Current:1 |
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Previous |
23 Dec 1941 |
Clayhill High Street, Lidlington, |
12 Jun 1991 |
08 Dec 1997 |
Current:0 |
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Previous |
28 Jul 1945 |
25 Biddenham Turn, |
12 Jun 1991 |
08 Dec 1997 |
Current:0 |
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Previous |
06 Jun 1946 |
Acorn Cottage, Little Gaddesden, |
12 Jun 1991 |
08 Dec 1997 |
Current:2 |
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Previous |
20 Jun 1947 |
Village Farm Grange Road, Felmersham, |
12 Jun 1991 |
08 Dec 1997 |
Current:1 |
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Previous |
09 Dec 1957 |
Le Dezo, Chesalles Sur Oron, |
30 Jan 2004 |
25 Oct 2010 |
Current:0 |
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Previous |
07 Nov 1951 |
Vers Chez Les Liards, |
30 Jan 2004 |
25 Oct 2010 |
Current:0 |
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Previous |
19 Aug 1949 |
9 Borailes, |
30 Jan 2004 |
29 Feb 2008 |
Current:0 |
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Previous |
14 Jul 1948 |
Papinpussi 2, |
01 Nov 1999 |
18 Aug 2003 |
Current:0 |
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Previous |
08 Dec 1945 |
Mendeliininkatu 28, |
01 Nov 1999 |
18 Aug 2003 |
Current:0 |
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Previous |
02 Jun 1960 |
43 Bentley Road, |
01 Nov 1999 |
31 Jul 2003 |
Current:0 |
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Previous |
07 May 1951 |
Mantykalliontie 6 D 6, Fin-02270, |
NA |
01 Nov 1999 |
Current:0 |
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Previous |
03 Feb 1944 |
Kisatie 5A, |
08 Dec 1997 |
01 Nov 1999 |
Current:0 |
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Previous |
08 Jul 1942 |
Ingankuja 6A, |
08 Dec 1997 |
01 Nov 1999 |
Current:0 |
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Previous |
17 Nov 1947 |
Pitkajarvenranta 47, |
09 Dec 1997 |
01 Nov 1999 |
Current:0 |
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Previous |
14 Jul 1945 |
5 Field Row, Kingston, |
31 Jul 2003 |
30 Jan 2004 |
Current:0 |
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Previous |
25 May 1962 |
2 Park Side, |
20 Aug 2003 |
30 Jan 2004 |
Current:3 |
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Previous |
27 Apr 1948 |
Kirvesmiehentie 15, |
31 Jul 2003 |
30 Jan 2004 |
Current:0 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
07 Nov 1953 |
4 Valerian Close, Eaton Ford, |
30 Jun 2005 |
NA |
Current:3 |
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Previous |
06 Jun 1946 |
Acorn Cottage, Little Gaddesden, |
12 Jun 1991 |
01 Nov 1999 |
Current:2 |
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Previous |
25 Jan 1960 |
44 Duckmill Crescent, Duckmill Lane, |
01 Nov 1999 |
13 Oct 2000 |
Current:0 |
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Previous |
09 Feb 1959 |
Millwood House Church Road, |
30 Jan 2004 |
30 Jun 2005 |
Current:2 |
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Previous |
14 Jul 1945 |
5 Field Row, Kingston, |
18 Aug 2003 |
30 Jan 2004 |
Current:0 |
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Previous |
17 Mar 1950 |
Satakunnanpollcu 32, |
13 Oct 2000 |
18 Aug 2003 |
Current:0 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
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There are no individual shareholders for this company. |
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Corporate Shareholders |
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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07393507 |
10576839 Ordinary GBP 0.05 |
Ordinary |
10,576,839 |
0.05 |
528,841.95 |
100.00 |
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Annual Profit & Loss
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Financials in: USD (mil) |
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Except for share items (millions) and per
share items (actual units) |
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period
Average) |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
0.543438 |
|
Consolidated |
No |
No |
No |
No |
No |
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Turnover (UK) |
1.5 |
1.0 |
0.9 |
3.1 |
3.3 |
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Turnover (Exports) |
33.9 |
34.9 |
81.6 |
72.9 |
59.8 |
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Total Turnover |
35.4 |
35.9 |
82.5 |
76.0 |
63.1 |
|
Cost of Sales |
27.2 |
30.4 |
63.3 |
65.3 |
56.5 |
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Gross Profit |
8.2 |
5.5 |
19.2 |
10.7 |
6.6 |
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Depreciation |
0.1 |
0.3 |
0.4 |
0.3 |
0.5 |
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Other Expenses |
9.1 |
11.3 |
17.8 |
12.7 |
11.7 |
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Operating Profit |
- |
-5.8 |
- |
-2.0 |
- |
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Other Income |
0.1 |
0.1 |
0.0 |
0.0 |
0.1 |
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Interest Paid |
0.4 |
0.6 |
0.8 |
0.2 |
0.0 |
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Exceptional Income |
12.0 |
0.0 |
17.8 |
0.0 |
0.0 |
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Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Profit Before Taxes |
10.8 |
-6.3 |
18.5 |
-2.2 |
-4.9 |
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Tax Payable / Credit |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Dividends |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Profit After Taxes |
10.8 |
-6.3 |
18.5 |
-2.2 |
-4.9 |
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Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Audit Fees |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
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Non Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Number of Employees |
127 |
160 |
184 |
181 |
180 |
|
Wages |
7.2 |
8.4 |
12.1 |
12.2 |
9.8 |
|
Social Security Costs |
0.8 |
0.9 |
1.3 |
1.3 |
1.1 |
|
Pensions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Pension Costs |
0.9 |
1.1 |
1.3 |
1.1 |
1.1 |
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Employees Remuneration |
8.8 |
10.5 |
14.6 |
14.6 |
12.0 |
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Directors Emoluments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Directors Remuneration |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Highest Paid Director |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
0.510947 |
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Consolidated |
No |
No |
No |
No |
No |
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|
Land & Buildings |
0.0 |
4.3 |
4.1 |
7.1 |
7.1 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Total Tangible Fixed Assets |
0.1 |
4.5 |
4.2 |
7.2 |
7.2 |
|
Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investments |
0.0 |
0.0 |
0.0 |
8.0 |
7.8 |
|
Total Fixed Assets |
0.1 |
4.5 |
4.2 |
15.2 |
15.0 |
|
Stocks |
- |
1.4 |
- |
- |
- |
|
Work in Progress |
- |
3.5 |
- |
- |
- |
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Total Stocks Work In Progress |
10.0 |
4.8 |
4.5 |
3.8 |
2.2 |
|
Trade Debtors |
9.6 |
16.4 |
19.3 |
9.3 |
20.6 |
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Inter-Company Debtors |
0.0 |
11.6 |
2.5 |
2.4 |
3.3 |
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Director Loans |
0.0 |
- |
- |
- |
- |
|
Other Debtors |
3.7 |
4.6 |
8.4 |
23.5 |
0.5 |
|
Total Debtors |
13.3 |
32.6 |
30.2 |
35.3 |
24.4 |
|
Cash and Equivalents |
10.7 |
6.2 |
12.8 |
0.0 |
0.0 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
34.1 |
43.6 |
47.5 |
39.1 |
26.5 |
|
Total Assets |
34.2 |
48.0 |
51.7 |
54.3 |
41.5 |
|
Trade Creditors |
5.2 |
2.9 |
4.0 |
3.4 |
6.6 |
|
Bank Overdraft |
0.0 |
12.1 |
13.8 |
5.4 |
0.6 |
|
Inter-Company Creditors |
0.0 |
20.2 |
12.3 |
8.5 |
2.5 |
|
Total Short Term Loans |
0.8 |
- |
- |
- |
- |
|
Social Security/VAT |
0.3 |
0.3 |
0.3 |
0.5 |
0.4 |
|
Other Current Liabilities |
11.8 |
6.0 |
9.3 |
11.6 |
7.0 |
|
Total Current Liabilities |
18.1 |
41.4 |
39.7 |
29.3 |
17.2 |
|
Group Loans (Long Term Liability) |
0.0 |
9.7 |
8.6 |
39.8 |
39.1 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
8.5 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
8.5 |
9.7 |
8.6 |
39.8 |
39.1 |
|
Deferred Taxation |
- |
0.0 |
- |
0.0 |
0.0 |
|
Other Provisions |
1.6 |
2.1 |
2.1 |
2.4 |
0.0 |
|
Total Provisions |
1.6 |
2.1 |
2.1 |
2.4 |
0.0 |
|
Issued Capital |
0.8 |
0.9 |
0.8 |
1.1 |
1.0 |
|
Share Premium Accounts |
0.0 |
20.6 |
18.3 |
25.3 |
24.9 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
5.1 |
-26.6 |
-17.9 |
-43.6 |
-40.7 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
5.9 |
-5.2 |
1.2 |
-17.2 |
-14.8 |
|
Net Worth |
5.9 |
-5.2 |
1.2 |
-17.2 |
-14.8 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.647573 |
0.641508 |
0.545576 |
0.499878 |
0.543438 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
9.7 |
- |
- |
- |
- |
|
Net Cash Flow from ROI and Servicing of Finance |
-0.3 |
- |
- |
- |
- |
|
Taxation |
0.0 |
- |
- |
- |
- |
|
Capital Expenditures |
0.0 |
- |
- |
- |
- |
|
Acquisitions and Disposals |
0.0 |
- |
- |
- |
- |
|
Paid Up Equity |
0.0 |
- |
- |
- |
- |
|
Management of Liquid Resources |
0.0 |
- |
- |
- |
- |
|
Net Cash Flow From Financing |
-4.6 |
- |
- |
- |
- |
|
Increase in Cash |
4.7 |
- |
- |
- |
- |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.638712 |
0.619253 |
0.695531 |
0.502361 |
0.510947 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.89 |
1.05 |
1.20 |
1.33 |
1.55 |
|
Liquidity Ratio |
1.33 |
0.94 |
1.08 |
1.20 |
1.42 |
|
Stock Turnover |
3.58 |
7.73 |
14.26 |
19.84 |
30.88 |
|
Credit Period (Days) |
97.99 |
160.96 |
108.87 |
44.99 |
111.90 |
|
Working Capital by Sales |
44.54% |
5.91% |
12.03% |
12.96% |
13.97% |
|
Trade Credit by Debtors |
0.54 |
0.17 |
0.21 |
0.36 |
0.32 |
|
Return on Capital |
68.07% |
-97.79% |
121.33% |
-8.91% |
-21.54% |
|
Return on Assets |
32.10% |
-13.56% |
28.05% |
-4.10% |
-12.65% |
|
Profit Margin |
30.54% |
-17.51% |
22.41% |
-2.94% |
-7.82% |
|
Return on Shareholders Funds |
184.47% |
- |
1,223.91% |
- |
- |
|
Borrowing Ratio |
156.66% |
-809.94% |
2,934.83% |
-311.58% |
-286.52% |
|
Equity Gearing |
17.40% |
-10.79% |
2.29% |
-31.73% |
-35.51% |
|
Debt Gearing |
143.60% |
-187.03% |
728.16% |
-231.05% |
-265.32% |
|
Interest Coverage |
27.37 |
-10.47 |
23.45 |
-9.16 |
- |
|
Sales by Tangible Assets |
301.82 |
8.33 |
15.54 |
10.50 |
9.37 |
|
Average Remuneration per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Profit per Employee |
0.1 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Sales per Employee |
0.3 |
0.2 |
0.4 |
0.4 |
0.4 |
|
Capital Employed per Employee |
0.1 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.3 |
0.3 |
0.3 |
0.3 |
0.2 |
|
Employee Remuneration by Sales |
24.94% |
29.13% |
17.69% |
19.24% |
18.95% |
|
Creditor Days (Cost of Sales Based) |
69.13 |
33.08 |
29.43 |
19.02 |
40.17 |
|
Creditor Days (Sales Based) |
53.16 |
28.05 |
22.57 |
16.34 |
35.95 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.92 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.