MIRA INFORM REPORT

 

 

Report Date :

30.05.2012

 

IDENTIFICATION DETAILS

 

Name :

RICHARD KEENAN & CO. LIMITED

 

 

Registered Office :

Borris, County Carlow County

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

06.07.1993

 

 

Com. Reg. No.:

E0204717

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

manufacturer of animal diet feeding machines

 

 

No. of Employees :

175

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

---

 

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Ireland

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address 

 

Richard Keenan & Co. Limited

Borris

Ireland

 

 

Synthesis     

 

Employees:                  175

Company Type:            Private Subsidiary

Corporate Family:          5 Companies

Ultimate Parent:             Richard Keenan Holdings Limited

Incorporation Date:         06-Jul-1993

Auditor:                        PricewaterhouseCoopers           

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               43.2

Total Assets:                 43.3

 

 

Business Description     

 

The manufacture of animal diet feeding machines.

 

Industry             

Industry            Construction and Agriculture Machinery

ANZSIC 2006:    2461 - Agricultural Machinery and Equipment Manufacturing

NACE 2002:      2932 - Manufacture of other agricultural and forestry machinery

NAICS 2002:     33311 - Agricultural Implement Manufacturing

UK SIC 2003:    2932 - Manufacture of other agricultural and forestry machinery

US SIC 1987:    3523 - Farm Machinery and Equipment

 

           

Key Executives   

 

Name

Title

James Greene

Secretary, Director

Gerard Keenan

Director

Noel Keenan

Director

 

Key IDSM Number:        102397318

Registered No.(IRE):      E0204717

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location

Borris

County Carlow County

Ireland

           

Sales EUR(mil): 32.6

Assets EUR(mil):           32.3

Employees:                   175

Fiscal Year End:            31-Dec-2010

Industry:                        Construction and Agriculture Machinery

Incorporation Date:         06-Jul-1993

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(IRE):      E0204717

Secretary, Director:        James Greene

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2461     -          Agricultural Machinery and Equipment Manufacturing

 

NACE 2002 Codes:

2932     -          Manufacture of other agricultural and forestry machinery

 

NAICS 2002 Codes:

33311   -          Agricultural Implement Manufacturing

 

US SIC 1987:

3523     -          Farm Machinery and Equipment

 

UK SIC 2003:

2932     -          Manufacture of other agricultural and forestry machinery

Business Description

The manufacture of animal diet feeding machines.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

32.6

Assets:

32.3

Total Liabilities:

47.3

 

Working Capital:

-24.6

 

Net Worth:

-15.5

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

NA

 

Key Corporate Relationships

Auditor:

PricewaterhouseCoopers

 

Auditor:

PricewaterhouseCoopers

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Richard Keenan Holdings Limited
Richard Keenan & Co. Limited

Richard Keenan & Co. Limited 
Total Corporate Family Members: 5 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Richard Keenan Holdings Limited

Parent

 

Ireland

Construction and Agriculture Machinery

56.7

245

 

Richard Keenan & Co. Limited

Subsidiary

 

Ireland

Construction and Agriculture Machinery

43.2

175

 

Vetron Holdings Limited

Subsidiary

 

Ireland

Commercial Banks

 

 

 

Salford Engineering Limited

Subsidiary

 

Ireland

Business Services

 

 

 

Keenan Sales Limited

Subsidiary

 

Ireland

Miscellaneous Capital Goods

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

James Greene

 

Secretary, Director

Director/Board Member

 

Noel Keenan

 

Director

Director/Board Member

 

Gerard Keenan

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

James Greene

 

Secretary, Director

Company Secretary

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

0.730637

Consolidated

No

No

No

No

 

 

 

 

 

Turnover

43.2

40.7

62.9

54.1

Cost of Sales

24.1

24.8

38.6

34.5

Gross Profit

19.2

15.8

24.3

19.6

Operating Profit

2.2

-6.8

1.2

-1.1

Interest Expenses

0.6

0.5

0.8

0.7

Pretax Profit

1.5

-7.4

0.4

-1.8

Taxation

-

-

-

0.2

Profit after Tax

1.5

-7.4

0.4

-2.0

Retained Profits

1.5

-7.4

0.4

-2.0

Value Added

13.1

4.5

16.6

12.1

Wages And Salaries

9.1

8.7

12.3

10.6

Directors’ Emoluments

0.4

0.4

0.5

0.4

Auditors Fees

-

0.0

0.0

0.1

Depreciation

0.8

1.6

1.8

1.5

Number of Employees

175

158

200

197

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

0.683971

Consolidated

No

No

No

No

 

 

 

 

 

Tangible Assets

16.5

17.3

20.2

11.9

Intangible Assets

0.7

1.0

1.0

0.8

Total Fixed Assets

17.1

18.2

21.1

12.7

Stocks

4.8

4.4

4.6

4.0

Trade Debtors

5.9

5.3

6.3

6.6

Cash

1.6

0.9

0.5

0.1

Miscellaneous Current Assets

13.8

11.2

8.9

45.3

Other Current Assets

15.4

12.2

9.3

45.5

Total Current Assets

26.2

21.9

20.3

56.1

Total Assets

43.3

40.2

41.4

68.8

Net assets

-15.9

-20.1

-11.2

-12.3

Total Current Liabilities

59.2

60.3

52.6

81.1

Total Debt

51.0

51.9

39.0

70.4

Total Long Term Liabilities

4.2

2.9

3.7

3.8

Total Liabilities

63.4

63.2

56.4

84.9

Share Capital And Other Reserves

0.0

0.2

0.2

0.2

Profit & Loss Account Reserve

-20.1

-23.2

-15.1

-16.3

Shareholders Funds

-20.1

-23.0

-14.9

-16.1

Capital Employed

-15.9

-20.1

-11.2

-12.3

Net Worth

-20.8

-24.0

-15.9

-16.9

Working Capital

-33.0

-38.3

-32.3

-25.0

Contingent Liability

1.0

0.7

0.7

-

Fixed Assets

9.4

10.2

10.8

11.9

Intermediate Assets

7.1

7.1

9.3

-

Liquid Assets

21.3

17.5

15.7

52.0

Trade Creditors

10.2

10.1

12.6

11.7

Bank Overdraft

-

5.3

2.3

1.3

Miscellaneous Current Liabilities

49.0

44.9

37.8

68.1

    Bank Loans - Current Portion

8.8

0.7

0.4

0.4

    Other Short Term Finance

38.2

43.1

32.7

65.1

Other Current Liabilities

1.9

1.1

4.6

2.7

Short Term Loans

47.1

49.1

35.4

66.7

    Long Term Loans

3.9

2.8

3.6

3.7

    Long Term Bank Loans

3.2

1.7

2.1

2.0

Other Long Term Finance

0.7

1.1

1.5

1.7

Other Long Term Liabilities

0.3

0.1

0.1

0.1

Called Up Share Capital

0.0

0.0

0.0

0.0

Sundry Reserves (incl. Grants)

-

0.2

0.2

0.2

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

0.730637

Consolidated

No

No

No

No

 

 

 

 

 

Net Cash

1.6

-4.2

-1.9

-1.1

 

 

Annual Ratios

 

 

 

 

31-Dec-2007

Period Length

52 Weeks

Filed Currency

-

Exchange Rate

-

Consolidated

No

 

 

Current Ratio

0.69

Liquidity Ratio

0.64

Stock Turnover

14.29

Net Worth / Total Liabilities

-19.94%

Pretax Profit / Total Assets

-2.78%

Pretax Profit / Turnover

-3.31%

Debtors Days

41.38

Creditors Days

73.66

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.58

UK Pound

1

Rs.87.14

Euro

1

Rs.69.73

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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 SC’s 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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.