1. The net exchange differences arising during the year:
(i) recognised appropriately in the profit and loss account- net loss -
Rs.41,245 (000) (31 st December, 2009 - net gain - Rs 9,714 (000))
(ii) adjusted in carrying amount of fixed assets - Rs. Nil (31st
December, 2009 Rs. Nil)
2. Details of Employee Benefits as required by the Accounting
Standard 15 (Revised) Employee benefits are as under:
(A) Defined Contribution Plan
Amount recognized as an expense in the Profit and Loss Account in
respect of Defined Contribution Plans is Rs, 80,830,005 (previous
(B) Defined Benefit Plan
i) Actuarial gains and losses in respect of defined benefit plans are
recognised in the Profit & Loss Account. ii) The Defined Benefit Plans
comprise of Gratuity Gratuity is a benefit to an employee based on
15/20/22/30 days (depending on the grade/ category of employee and the
completed years of service) last drawn salary for each completed year
The Plan is funded.
Holding Company Atlas Copco AB
ABAC Aria Compressa S.p.A.
Atlas Copco (Nanjing) Construction & Mining Equipment Ltd.
Atlas Copco (Wuxi) Exploration Equipment Ltd.
Oy Atlas Copco RotexAb
Atlas Copco (Shenyang) Construction & Mining Equipment Ltd.
Atlas Copco (South East Asia) Pte Ltd.
Atlas Copco (Thailand) Ltd.
Atlas Copco (Zhangjiakou) Construction & Mining Equipment Ltd.
SPA Atlas Copco Algerie
Atlas Copco ASAP n.v.
Atlas Copco China/Hongkong Ltd.
Atlas Copco Equipment Egypt S.A.E.
Atlas Copco Bangladesh Ltd.
Atlas Copco (Wuxi) Compressor Co. Ltd.
Wuxi Pneumatic Air/Gas Purity Equipment Co. Ltd.
Atlas Copco Application Center Europe GmbH
Atlas Copco Blm S.r.l
Atlas Copco Belgium n.v.
Atlas Copco Construction Tools AB, Kalmar, Sweden
Atlas Copco Construction Tools GmbH
Atlas Copco Craelius AB
Atlas Copco Crepelle S.A.S., France
Atlas Copco Drilling Solutions Garland / Allen , USA
Atlas Copco Eastern Africa Ltd.
Atlas Copco Energas GmbH
Atlas Copco Canada Inc.
Atlas Copco Hurricane LLC
Atlas Copco Italia S.p.A
Atlas Copco KK
Atlas Copco MAI GmbH
Atlas Copco Mexicana, SA DE CV
Atlas Copco Mfg. Korea Co. Ltd.
Atlas Copco Rental LLC (formerly known as Atlas Copco Prime Energy)
Atlas Copco Rock Drills AB
Atlas Copco Romania S.r.l.
Atlas Copco S.A.E
Atlas Copco S.r.o.
Atlas Copco Secoroc AB
Atlas Copco Secoroc LLC
Atlas Copco Taiwan Ltd.
Atlas Copco Tools & Assembly System LLC
Atlas Copco Tools AB
Atlas Copco Tools Limited
Atlas Copco (Shanghai) Trading Co. Ltd.
Beacon Medical Products LLC
Ceccato Aria Compressa S.p.A.
Compresseurs Worthington - Creyssensac S.A.S.
Dynapac Brasil Industria e comercio Ltda
Dynapac Compaction Equipment AB
Dynapac (China) Compaction &Paving Equipment Co. Ltd.
Fuji Air Tools Co., Ltd
ETS Georges Renault S.A.S.
Liuzhou Tech Machinery Co.Ltd.
Power Tools Distribution n.v.
Rodcraft Pneumatic Tools GmbH
Shanghai Tooltec Industrial Tool Co. Ltd.
Atlas Copco (Malaysia) Sdn. Bhd.
Atlas Copco (Philippines) Inc.
Atlas Copco CMT & CT Nigeria Ltd.
Atlas Copco Colombia Ltda
Atlas Copco MCT GmbH
Atlas Copco Peruana SA
Atlas Copco Tanzania Ltd.
Atlas Copco Zambia Ltd.
Shenyang Ruifeng Machinery Ltd.
PT Atlas Copco Indonesia
Atlas Copco Nederlands BV (NLA)
IRMER + ELZE Kompressoren GmbH
Atlas Copco Middle East FZE
Atlas Copco Services Middle East SPC
Atlas Copco Compressors LLC
Quincy Compressor, Inc.
Quincy Compressor, LLC.
Atlas Copco Airpower n.v.
Atlas Copco Brasil Ltda
Atlas Copco Comptec LLC.
ZAO Atlas Copco
Atlas Copco South Africa (Pty) Ltd
Atlas Copco BH .d.o.o
Atlas Copco Argentina S.A.C.I
Atlas Copco A.D.
Atlas Copco (Cyprus) Ltd.
Atlas Copco (Schweiz) AG
ABAC DMS Air Compressors Pte Ltd.
Atlas Copco Australia Pty Ltd.
Atlas Copco Bulgaria Eood
Atlas Copco Central Asia LLP
Atlas Copco Chilena S.A.C.
Atlas Copco Ltd.
Atlas Copco Construction & Mining Technique USA LLC
Atlas Copco Drilling Solutions LLC
Atlas Copco Hellas A.E.
Atlas Copco Polska Sp. Z.o.o.
Atlas Copco Forage Et Construction
Atlas Copco Iran AB
Sociedade Atlas Copco de Portugal Lda
Atlas Copco Mafi-Trench Company LLC
Atlas Copco Custom Design (formerly Tide - Air)
Atlas Copco Customer Finance AB
Atlas Copco Makinalari Imalat AS
LLC Atlas Copco Ukraine
Key management personnel
F. Vandenberghe (from 1st August, 2009)
M. M. Mustapha (upto 31st January, 2009)
3. Particulars ofassets taken on finance lease:
(i) Total minimum lease payments as at the balance sheet date is
Rs.85,247 (000) (31st December, 2009 -Rs. 14,425 (000) and the
present value of total minimum lease payments as at the balance sheet
date is Rs.75,982 (000) (31st December, 2009 - Rs. 11,856 (000)). The
difference represents the finance charge payable in the future.
4. EARNING PER SHARE
(a) The amount used as the numerator in calculating basic and diluted
earnings per share is the net profit aftertax for the year disclosed in
the Profit and Loss Account.
(b) The weighted average number of equity shares used as the
denominator in calculating both basic and diluted earnings per share is
Brief description of the nature of the obligation and the expected
timing of any resulting outflows of economic benefits:
1) Warranty Provision:
Warranty cost are accured at the time products are sold, based on past
experience. The provision is discharged over the warranty period of
12-18 months from the date of sale.
2) Earn Out:
Earn Out is the amount provided for the payments to be made to the
shareholders of Focus Rockbit Pvt. Ltd. and Prisma Rocktools Pvt. Ltd.
as per the terms of the agreement between the Company and the
shareholders at the time of takeover of the companies during the
3) Late Delivery:
These are accrued based on managements assessment of the expected late
delivery damages payable by the Company to its customers. The provision
is settled over a period of 12-24 months.
Represent provision towards cost to come which will be settled on
realisation of dues.
5) Provision for Claims from Customers:
Provision for amounts expected to be paid against settlement of claim
6) Provision for Performance Contracts:
Performance contracts is the provision made towards the performance of
supplied machinery to customers as per agreements. These are generally
settled on completion of the agreement.
7) Other Provisions (for Statutory Levies):
Other Provisions (for Statutory Levies) are provisions made for
potential statutory liabilities expected to be settled on completion of
5. Estimated amount of contracts remaining to be executed on capital
account and not provided for Rs. 44,561 (000) (Previous Year -Rs
38,749 (000)) towards tangible fixed assets.
6. a) Principal amount payable to Micro And Small Enterprises (to the
extent identified by the company from available information) as at
31 st December, 2010 is Rs. 133,869 (000) (31 st December, 2009 Rs.
53,475 (000)) including unpaid amount of Rs. 3,278 (000)(31st
December, 2009 Rs. Nil) outstanding for more than 45 days. Interest due
thereon is Rs. 31 (000) (31st December, 2009 Rs. Nil)
(b) Amount of payments made to suppliers beyond 45 days during the year
is Rs. 651,433 (000) (31 st December, 2009 Rs. Nil). Interest paid
thereon is Rs. Nil (31st December, 2009 Rs. Nil) and the estimated
interest due and payable thereon is Rs. 6,579 (000) (31st December,
2009 Rs. Nil)
(c) Interest paid in terms of section 16 of the Micro, Small and Medium
Enterprises Development Act, 2006 is Rs. Nil (31 st December, 2009-Rs.
Amount of interest accrued and remaining unpaid as at the end of the
year is Rs. 6,610 (000) (31st December, 2009 Rs. Nil).
(d) The amount of estimated interest due and payable for the period
from 1 st January, 2011 to actual date of payment or 15th February,
2011 (whichever is earlier) is Rs. 127 (000).
7. Disclosures under Accounting Standard - 7 (Revised) Construction
(a) i) Contract Revenue recognised for the year ended 31 st December,
2010 Rs. 325,528 (000) (31 st December, 2009 Rs. Nil)
ii) Method used to determine the contract revenue recognized and the
stage of completion of contracts in progress [Refer Note 1 (f) of
(b) Disclosures in respect of contracts in progress at the year end:
i) Aggregate amount of costs incurred and recognised profits (less
recognised losses) Rs. 325,528 (000) (31 st December, 2009 Rs. Nil)
ii) Advances received are Rs. Nil (31st December, 2009 Rs. Nil)
iii) Retention money is Rs. Nil (31st December, 2009 Rs. Nil)
8. The previous year figures include the effect of amalgamation of
two 100 % wholly owned subsidiaries namely, Focus Rocbit Pvt. Ltd. and
Prisma Rocktools Pvt. Ltd. with itself w.e.f 1st April, 2009.
Accordingly the previous year figures may not be strictly comparable.
9. The previous years figures have been regrouped/restated wherever
necessary to conform with current years classification.