MIRA INFORM REPORT

Report Date :

14.06.2011

IDENTIFICATION DETAILS

Name :	SOPALPLAST
Registered Office :	500 Rue De La Dombes,Zac De Rosarge Les Echets, 01700 Miribel
Country :	France
Financials (as on) :	31.12.2009
Date of Incorporation :	January 1979
Com. Reg. No.:	31563082200049
Legal Form :	Simplified Joint Stock Company
Line of Business :	Manufacture of plastic plates, sheets, tubes and plastic profiles

RATING & COMMENTS

MIRA’s Rating :

Aa

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	130,000 Euro
Status :	Good
Payment Behaviour :	No Complaints
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 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
France	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Bottom of Form

Company Information

Company Summary

company details

Company Number

31563082200049

Name

SOPALPLAST

Activity(APE)

Fabrication de plaques, feuilles, tubes et profilés en matières plastiques

(Manufacture of plastic plates, sheets, tubes and plastic profiles)

Share capital

192,000

Registration Court

Bourg-En-Bresse (01)

Legal form

Simplified joint stock company

Court Registry Number

20 1 0B005

Incorporation Date

06/1979

Formation Date

01/1979

Deregistration Date

Last account Date

31/12/2009

Nationality

France

Establishment details

Postal Address

500 RUE DE LA DOMBES,ZAC DE ROSARGE LES ECHETS
01700 MIRIBEL,

Trading Address

500 RUE DE LA DOMBES,ZAC DE ROSARGE LES ECHETS
01700 MIRIBEL,

Telephone

Fax

Type

Head office

Status

Economically active

Formation Date

01/1979

Reason for formation

Formation

Closure Date

Reason for closure

Reactivation Date

Production Role

Activity Nature

Activity Location

Location surface

Seasonality

Department

()

Region

Rhône-Alpes

District

Area

City

MIRIBEL

Size of urban area

Other establishments

Branches

1 branch entities in this company

Company number	31563082200049	Company name	SOPALPLAST
Type	Head office	Activityape	Fabrication de plaques, feuilles, tubes et profilés en matières plastiques
Post Code	01700	City	MIRIBEL

Company number	31563082200031	Company name	LA PALETTISATION PLASTIQUE SOPALPLAST
Type	Head office (one site company)	Activityape	Fabrication de plaques, feuilles, tubes et profilés en matières plastiques
Post Code	13790	City	ROUSSET

Regionality

Legal unit with all establishments in same area

Mono-activity status

Legal unit having all establishments with the same main activity

Workforces

Workforce at address

10 to 19 employees

Company workforce

6 to 9 employees

Limit

Credit Information

Credit Limit

130,000 Euro

Synthesized Accounts

Period
Annual Return	31/12/2009	31/12/2008	31/12/2007
Account period (month)	12	12	12
Account Type	Normal Account	Normal Account	Normal Account
Currency	Euro	Euro	Euro
Active account
Capital not called
Total fixed assets	106,718	66,843	73,129
- Intangible assets
- Tangible assets	102,292	60,917	63,876
- Financial assets	4,426	5,926	9,253
Net current assets	1,845,581	3,009,526	2,416,267
- Stocks	787,996	1,121,844	1,145,795
- Advanced payments	NaN	NaN	NaN
- Receivables	984,294	1,764,909	1,099,886
- Securities and cash	15,680	122,773	170,586
- Prepaid expenses
Account regularization
Total Assets	1,952,298	3,076,369	2,489,396
Passive Account
Shareholder equity	793,185	713,550	625,675
- of which share capital	192,000	192,000	192,000
Other capital resources
Provisions for risks & charges	79,640	12,931	21,334
Liabilities	1,079,473	2,349,889	1,842,387
- Financial liabilities	142,912	612,906	409,157
- Advanced payments received
- Trade account payables	786,170	1,596,392	1,301,838
- Tax and social liabilities	150,291	139,860	126,196
- Other debts and fixed assets liabilities	101	731	5,197
Account of regularization
Total liabilities	1,952,298	3,076,369	2,489,396
Profit & Loss
Operating income	5,838,547	8,435,437	9,098,818
Net turnover	5,567,805	8,211,948	8,847,639
- of which net export turnover	1,604,906	1,639,042	2,120,396
Operating charges	5,791,199	8,255,463	8,806,106
Operating profit/loss	47,348	179,974	292,712
Financial income	21,920	31,729	9,819
Financial charges	21,028	85,310	101,721
Financial profit/loss	892	-53,581	-91,902
Pretax net operating income	48,240	126,393	200,810
Extraordinary income	61,898	6,173	431
Extraordinary charges		1	500
Extraordinary profit/loss	61,898	6,172	-69
Net profit/loss	79,635	87,875	132,733

Event history

Status history

Date	Description
01/03/2010	Economically active

Company events history

Date	Description
11/05/2011	Bodacc C : Deposit accounts notice
05/04/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
22/02/2011	Bodacc B: Various editing or changing
03/02/2011	Updated articles of association
03/02/2011	Minutes of general meeting of shareholders
03/02/2011	New company name
03/02/2011	Audit or Management Report
23/12/2010	Collection of preferential rights activated for this company
19/11/2010	Modification to Company Identifier
19/11/2010	Update of Company Legal Form
19/11/2010	Update of Company Name
10/06/2010	Bodacc A : Registration
20/05/2010	Minutes of general meeting of shareholders
20/05/2010	Updated articles of association
20/05/2010	Registered office transferred inside jurisdiction of the Commercial Court
19/03/2010	Legal Gazette: Head Office Transfer
01/03/2010	Transfer of Establishment
01/03/2010	Update of Company Head Office Identifier
31/12/2009	New accounts available
06/11/2009	Bodacc C : Deposit accounts notice

Establishment events history

Date	Description
05/04/2011	Update Rating
05/04/2011	Update Limit
05/02/2011	Update Limit
05/02/2011	Update Rating
27/01/2011	Update Rating
27/01/2011	Update Limit
04/10/2010	Update Rating
04/10/2010	Update Limit

Directors

Name	M KAHN MICHEL ROBERT	Manager position	Président
Date of birth	07/05/1971	Place of birth	NEUILLY SUR SEINE (92)
Type of manager	Individual	Name at birth of manager

Judgements / CCJs

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.87
UK Pound	1	Rs.72.83
Euro	1	Rs.64.37

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.