MIRA INFORM REPORT

Report Date :

17.05.2013

IDENTIFICATION DETAILS

Name :	GROUPE JAJ
Registered Office :	40a 48, 40 Rue Beaumarchais, 93100 Montreuil Sous Bois
Country :	France
Financials (as on) :	31.03.2012
Date of Incorporation :	January 1959
Com. Reg. No.:	RCS Bobigny 0 592 013 155
Legal Form :	Public limited company with board of directors
Line of Business :	Wholesaler of Clothing and shoes
No. of Employees :	20 to 49 employees

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
France	A2	A2

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

france ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP in 2012, while France's public debt rose from 68% of GDP to 89% over the same period. Under President SARKOZY, Paris implemented some austerity measures to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

company summary

Name	GROUPE JAJ

SIRET

592 013 155 00060

Trade name	SCHOTT ET ELEKTRODE
		EUR VAT Number	FR32592013155
Activity (APE)	Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z) (Wholesale (intercompany trade) Clothing and shoes (4642Z))	Legal form	Public limited company with board of directors
Phone	01 41 58 62 20	RCS Registration	RCS Bobigny 0 592 013 155
Fax		Share capital	3,560,939 Euros
Address	GROUPE JAJ JAJ 40A 48 40 RUE BEAUMARCHAIS 93100 MONTREUIL SOUS BOIS	Incorporated Date	02/1959
Nationality	France	Status	Economically active

Ultimate Holding Company
Company Name	Company number
GROUPE JAJ	592013155

Current Directors

3

Trading to Date	03/31/2012	03/31/2011	03/31/2010
Turnover	20,070,251 €	19,840,769 €	17,261,588 €
Gross Operating Surplus	5,37 % Turnover	6,50 % Turnover	3,89 % Turnover
Shareholders’ equity	2,794,028 €	3,209,760 €	3,256,796 €
Net result	-415,732 €	-47,036 €	887,691 €
Employees	20 to 49 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Company details

Activity (APE)	Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)
RCS Registration	RCS Bobigny 0 592 013 155	Share capital	3,560,939 Euros
Registration Court	Bobigny (93)	Legal form	Public limited company with board of directors
Court Registry Number	20 0 5B037	EUR VAT Number	FR32592013155
Incorporation Date	02/1959	Formation Date	01/1959
Deregistration Date		Last account Date	31/03/2012
Nationality	France

Ultimate Parent

1 ultimate parent company for this company  >  GROUPE JAJ  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in MONTREUIL SOUS BOIS  (93100)

Establishment details

Trade name	SCHOTT ET ELEKTRODE
Activity (APE)	Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)	Business Pages FT®
Postal Address	GROUPE JAJ  JAJ  40A 48  40 RUE BEAUMARCHAIS  93100 MONTREUIL SOUS BOIS	Trading Address	40 RUE BEAUMARCHAIS  93100 MONTREUIL SOUS BOIS
Telephone	01 41 58 62 20
Fax

Type	Head office	Status	Economically active
Formation Date	07/2005	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Seine-Saint-Denis (93)	Region	Ile-de-France
District	1	Area	96
City	MONTREUIL SOUS BOIS	Size of urban area	Paris conglomeration

Other establishments

Branches	2 branch entities in this company
Head office	> GROUPE JAJ <<<  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in MONTREUIL SOUS BOIS  (93100)
Secondary establishments	>  GROUPE JAJ  - Commerce de gros d'habillement (514C)  in PARIS 3  (75003)  >  GROUPE JAJ  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in PARIS 1  (75001)  >  GROUPE JAJ  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in PARIS 3  (75003)  >  GROUPE JAJ  - Commerce de gros (commerce interentreprises) d'habillement et de chaussures (4642Z)  in MONTREUIL SOUS BOIS  (93100)

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

20 to 49 employees

Company workforce

20 to 49 employees

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts 

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/03/2012	31/03/2011	31/03/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	30/01/2013	07/11/2011	27/11/2010
Activity Code	4642Z	4642Z	4642Z
Employees	48	46	45

Active account

Annual Accounts	31/03/2012		31/03/2011		31/03/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	1 019 562	-14,0%	1 185 647	-12,0%	1 347 529	38 281	2563,4%
- Intangible assets	128 989	1,7%	126 841	-11,1%	142 656	3 477,50	3609,2%
- Tangible assets	848 682	-12,6%	971 327	-13,2%	1 119 650	6 823,50	12337,6%
- Financial assets	41 891	-52,1%	87 479	2,6%	85 223	2 880,50	1354,3%
Net current assets	8 606 738	-1,9%	8 771 987	29,0%	6 800 531	216 737,50	3871,0%
- Stocks	4 792 132	9,9%	4 360 108	43,4%	3 040 772	47 623,50	9962,5%
- Advanced payments	53 953	-1,9%	56 147	-27,6%	77 509	0	0%
- Receivables	3 094 422	-22,0%	3 969 053	20,7%	3 288 017	66 493	4553,8%
- Securities and cash	666 231	72,3%	386 679	-1,9%	394 233	36 088,50	1746,1%
- Prepaid expenses	-	-	-	-	-	457	-
Accounts of regularization	38 831	959,5%	3 665	-94,9%	72 301	0	0%
Total Assets	9 665 133	-3,0%	9 961 298	21,2%	8 220 360	292 725	3201,8%

Passive Account

Annual Accounts	31/03/2012		31/03/2011		31/03/2010	Sector Median 2012
Shareholders' equity	2 794 028	-13,0%	3 209 760	-1,4%	3 256 796	77 702,50	3495,8%
Share capital	3 560 939	0%	3 560 939	0%	3 560 939	10 000	35509,4%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	80 696	60,4%	50 306	-56,2%	114 912	0	0%
Liabilities	6 777 829	2,0%	6 642 214	37,0%	4 848 652	177 642	3715,4%
- Financial liabilities	1 302 439	102,1%	644 488	76,2%	365 745	25 549	4997,8%
- Advanced payments received	115 114	126,9%	50 727	84,1%	27 558	0	0%
- Trade account payables	4 121 583	-14,7%	4 830 248	36,9%	3 529 127	51 451,50	7910,6%
- Tax and social liabilities	591 913	-9,3%	652 523	13,9%	572 704	40 737	1353,0%
- Other debts and fixed assets liabilities	659 359	26,0%	523 248	48,0%	353 518	10 019,50	6480,8%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	9 665 133	-3,0%	9 961 299	21,2%	8 220 360	292 724,50	3201,8%

Results

Annual Accounts	31/03/2012		31/03/2011		31/03/2010	Sector Median 2012
Sales of Goods	21 540 190	5,2%	20 467 769	15,3%	17 747 423	406 104	5204,1%
Net turnover	20 070 251	1,2%	19 840 769	14,9%	17 261 588	398 847,50	4932,1%
- of which net export turnover	6 392 673	-6,2%	6 813 739	0,0%	6 814 726	0	0%
Operating charges	21 433 216	4,9%	20 423 688	11,5%	18 313 826	395 996	5312,5%
Operating profit/loss	106 974	142,7%	44 082	107,8%	-566 403	12 934,50	727,0%
Financial income	194 124	-30,4%	278 718	-83,7%	1 707 763	26,50	732443,4%
Financial charges	271 795	-36,0%	424 602	15,2%	368 488	1 004,50	26957,7%
Financial profit/loss	-77 671	46,8%	-145 884	-110,9%	1 339 275	-157,50	-49214,9%
Pretax net operating income	29 303	128,8%	-101 803	-113,2%	772 872	11 350	158,2%
Extraordinary income	21 524	-72,5%	78 362	828,7%	8 438	0	0%
Extraordinary charges	526 561	2131,6%	23 596	-30,0%	33 726	242,50	217038,6%
Extraordinary profit/loss	-505 037	-1022,2%	54 766	316,6%	-25 288	0	0%
Net result	-415 732	-783,9%	-47 036	-105,3%	887 691	10 985	-3884,5%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/03/2012	31/03/2011	31/03/2010
Months	12	12	12

Accounts - Active 
Current Assets |  Equalization accounts |  Reference 

Grand Total - Passive Accounts (I to IV)

			31/03/2012		31/03/2011		31/03/2010
	Grand Total (I to VI)	Net	9 665 133	-3,0%	9 961 298	21,2%	8 220 360
	Gross	CO	12 590 317	4,0%	12 109 503	17,6%	10 301 216
	Amortisation	1A	2 925 184	36,2%	2 148 205	3,2%	2 080 856

Non declared distributed capital (I)

		31/03/2012		31/03/2011		31/03/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/03/2012		31/03/2011		31/03/2010
	Total Active fixed asset (II)	Net	1 019 562	-14,0%	1 185 647	-12,0%	1 347 529
	Gross	BJ	2 999 111	0,7%	2 978 789	0,2%	2 971 651
	Amortisation	BK	1 979 549	10,4%	1 793 142	10,4%	1 624 122

Intangilble fixed assets

			31/03/2012		31/03/2011		31/03/2010
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	28 989	8,0%	26 841	-37,1%	42 656
	Gross	AF	194 522	13,6%	171 182	0%	171 182
	Amortisation	AG	165 533	14,7%	144 341	12,3%	128 526
	Goodwill	Net	100 000	0%	100 000	0%	100 000
	Gross	AH	100 000	0%	100 000	0%	100 000
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	128 989	1,7%	126 841	-11,1%	142 656

Tangilble fixed assets

			31/03/2012		31/03/2011		31/03/2010
	Lands	Net	131 119	0%	131 119	0%	131 119
	Gross	AN	131 119	0%	131 119	0%	131 119
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	258 177	-12,1%	293 655	-10,8%	329 134
	Gross	AP	978 651	0%	978 651	0%	978 651
	Amortisation	AQ	720 474	5,2%	684 996	5,5%	649 517
	Plant	Net	21 969	32,8%	16 548	-6,2%	17 648
	Gross	AR	83 727	23,1%	67 996	11,6%	60 952
	Amortisation	AS	61 758	20,0%	51 448	18,8%	43 304
	Other tangible fixed assets	Net	437 417	-17,5%	530 005	-17,4%	641 749
	Gross	AT	1 469 201	1,9%	1 442 362	-0,1%	1 444 524
	Amortisation	AU	1 031 784	13,1%	912 357	13,7%	802 775
	Fixed assets in construction	Net	0	0%	0	0%	0
	Gross	AV	0	0%	0	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	848 682		971 327		1 119 650

Financial assets

			31/03/2012		31/03/2011		31/03/2010
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	3 887	0%	3 887	0%	3 887
	Gross	CU	3 887	0%	3 887	0%	3 887
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	46 678	5,1%	44 422
	Gross	BB	0	0%	46 678	5,1%	44 422
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	38 004	3,0%	36 914	0%	36 914
	Gross	BH	38 004	3,0%	36 914	0%	36 914
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		41 891		87 479		85 223

Current Assets (III)

			31/03/2012		31/03/2011		31/03/2010
	Total Assets	Net	8 606 738	-1,9%	8 771 987	29,0%	6 800 531
	Gross	CJ	9 552 373	4,7%	9 127 050	25,8%	7 257 264
	Amortisation	CK	945 635	166,3%	355 063	-22,3%	456 733

Stocks

			31/03/2012		31/03/2011		31/03/2010
	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	324 245	0%	0	0%	0
	Gross	BN	324 245	0%	0	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	4 169 853	0%	0	0%	0
	Gross	BR	4 962 187	0%	0	0%	0
	Amortisation	BS	792 334	0%	0	0%	0
	Goods for resale	Net	298 034	-93,2%	4 360 108	43,4%	3 040 772
	Gross	BT	330 396	-92,7%	4 525 854	41,8%	3 191 050
	Amortisation	BU	32 362	-80,5%	165 746	10,3%	150 278
	Sub Total Stocks	Net	4 792 132	9,9%	4 360 108	43,4%	3 040 772

Advance payments to suppliers

			31/03/2012		31/03/2011		31/03/2010
	Advance payments to suppliers	Net	53 953	-3,9%	56 147	-27,6%	77 509
	Gross	BV	53 953	-3,9%	56 147	-27,6%	77 509
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/03/2012		31/03/2011		31/03/2010
	Trade accounts receivable	Net	1 745 002	-31,1%	2 531 394	48,6%	1 703 267
	Gross	BX	1 865 941	-31,4%	2 720 711	35,4%	2 009 722
	Amortisation	BY	120 939	-36,1%	189 317	-38,2%	306 455
	Other debtors	Net	1 124 357	24,5%	903 021	-33,4%	1 355 554
	Gross	BZ	1 124 357	24,5%	903 021	-33,4%	1 355 554
	Amortisation	CA	0	0%	0	0%	0
	Capital subscribed and called up	Net	0	0%	0	0%	0
	Gross	CB	0	0%	0	0%	0
	Amortisation	CC	0	0%	0	0%	0
	Sub Total Debtors	Net	2 869 359	-16,5%	3 434 415	12,3%	3 058 821

Divers

			31/03/2012		31/03/2011		31/03/2010
	Investment securities	Net	100 806	0%	100 806	0%	100 806
	Gross	CD	100 806	0%	100 806	0%	100 806
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	565 425	97,8%	285 873	-2,6%	293 427
	Gross	CF	565 425	97,8%	285 873	-2,6%	293 427
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	666 231	72,3%	386 679	-1,9%	394 233

Prepaid expenses

			31/03/2012		31/03/2011		31/03/2010
	Prepaid expenses	Net	225 063	-57,9%	534 638	133,3%	229 196
	Gross	CH	225 063	-57,9%	534 638	133,3%	229 196
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/03/2012		31/03/2011		31/03/2010
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	38 831	959,5%	3 665	-94,9%	72 301
Gross		38 831	959,5%	3 665	-94,9%	72 301

References

		31/03/2012		31/03/2011		31/03/2010
Due within one year	CP	0	0%	46 678	0%	0
Due after one year	CR	0	0%	405 783	-38,2%	657 089

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive 
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References 

Grand Total - Passive Accounts (I to IV)

		31/03/2012		31/03/2011		31/03/2010
Grand Total (I to V)	EE	9 665 133	-3,0%	9 961 299	21,2%	8 220 360

Shareholder Equity (I)

			31/03/2012		31/03/2011		31/03/2010
	Total shareholders' equity (Total I)	DL	2 794 028	-13,0%	3 209 760	-1,4%	3 256 796
	Equity and shareholders' equity	DA	3 560 939	0%	3 560 939	0%	3 560 939
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	389 000	0%	389 000	0%	389 000
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	-740 179	-6,8%	-693 143	56,2%	-1 580 834
	Profit or loss for the period	DI	-415 732	-783,9%	-47 036	-105,3%	887 691
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/03/2012		31/03/2011		31/03/2010
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/03/2012		31/03/2011		31/03/2010
	Total provisions for risks and charges (Total III)	DR	80 696	60,4%	50 306	-56,2%	114 912
	Risk provisions	DP	80 696	60,4%	50 306	-56,2%	114 912
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/03/2012		31/03/2011		31/03/2010
	Total Liabilities (Total IV)	EC	6 777 829	2,0%	6 642 214	37,0%	4 848 652
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	1 142 308	78,4%	640 357	77,1%	361 614
	Sundry loans and financial liabilities	DV	160 131	3776,3%	4 131	0%	4 131
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	115 114	126,9%	50 727	84,1%	27 558
	Trade accounts payables	DX	4 121 583	-14,7%	4 830 248	36,9%	3 529 127
	Tax and social security liabilities	DY	591 913	-9,3%	652 523	13,9%	572 704
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	646 780	39,3%	464 228	31,3%	353 518

Translation loss (V)

		31/03/2012		31/03/2011		31/03/2010
Translation loss (Total V)	ED	12 579	-78,7%	59 020	0%	0

Equalization accounts

		31/03/2012		31/03/2011		31/03/2010
Deferred income	EB	0	0%	0	0%	0

References

		31/03/2012		31/03/2011		31/03/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	6 559 944	0%	0
Of which current bank facilities	EH	0	0%	568 735	222,1%	176 549

Display parameter
Currency	Euro	Kilo Euro

Result account 
Sales of Goods | Operating charges | Operating charges | Financial income | Financial charges | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References 

1- Operating result (I-II)

		31/03/2012		31/03/2011		31/03/2010
Operating result (Total I-II)	GG	106 974	142,7%	44 082	107,8%	-566 403

2 - Financial result (V - VI)

		31/03/2012		31/03/2011		31/03/2010
Financial result (Total V-VI)	GV	-77 671	46,8%	-145 884	-110,9%	1 339 275

3 - Pre-tax net operating income result (I - VI)

		31/03/2012		31/03/2011		31/03/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	29 303	128,8%	-101 803	-113,2%	772 872

4 - Extraordinary result (VII-VIII)

		31/03/2012		31/03/2011		31/03/2010
Extraordinary result (Total VII-VIII)	HI	-505 037	-1022,2%	54 766	316,6%	-25 288

Profit or loss

		31/03/2012		31/03/2011		31/03/2010
Profit or loss	HN	-415 732	-783,9%	-47 036	-105,3%	887 691

Total Income (I+III+V+VII)

		31/03/2012		31/03/2011		31/03/2010
Total Income (I+III+V+VII)	HL	21 755 838	4,5%	20 824 850	7,0%	19 463 624

Total charges (Total II+IV+VI+VIII+IX+X)

		31/03/2012		31/03/2011		31/03/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	22 171 572	6,2%	20 871 886	12,4%	18 575 933

Operating income (I)

		31/03/2012		31/03/2011		31/03/2010
Total operating income (Total I)	FR	21 540 190	5,2%	20 467 769	15,3%	17 747 423

Operating income (details)

			31/03/2012		31/03/2011		31/03/2010
	Sale of goods for resale	FC	1 876 523	-90,5%	19 820 519	14,8%	17 262 989
	France	FA	825 376	-93,7%	13 013 659	24,7%	10 436 205
	Export	FB	1 051 147	-84,6%	6 806 860	-0,3%	6 826 784
	Sale of goods produced	FF	18 167 729	0%	0	0%	0
	France	FD	12 830 479	0%	0	0%	0
	Export	FE	5 337 250	0%	0	0%	0
	Sale of services	FI	25 999	28,4%	20 251	1545,5%	-1 401
	France	FG	21 723	62,5%	13 372	25,5%	10 657
	Export	FH	4 276	-37,8%	6 879	157,0%	-12 058
	Net turnover	FL	20 070 251	1,2%	19 840 769	14,9%	17 261 588
	France	FJ	13 677 578	5,0%	13 027 031	24,7%	10 446 862
	Export	FK	6 392 673	-6,2%	6 813 739	0,0%	6 814 726
	Stocked production	FM	1 070 545	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	394 213	-16,9%	474 613	-2,3%	485 743
	Other income	FQ	5 181	-96,6%	152 387	165538,0%	92

Operating charges (II)

		31/03/2012		31/03/2011		31/03/2010
Total operating charges (Total II)	GF	21 433 216	4,9%	20 423 688	11,5%	18 313 826

Exploitation charges

		31/03/2012		31/03/2011		31/03/2010
Purchase of goods for resale	FS	1 352 132	-89,9%	13 364 908	28,2%	10 426 275
Change in stocks of goods for resale	FT	-20 429	98,5%	-1 334 804	-831,4%	-143 314
Purchase of raw materials	FU	137 131	78,3%	76 900	-7,4%	83 016
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	15 210 516	394,8%	3 073 825	6,3%	2 891 311
Tax, duty and similar payments	FX	301 397	-7,0%	324 246	3,9%	312 084
Payroll	FY	2 094 039	1,0%	2 073 699	-1,2%	2 098 798
Social security costs	FZ	988 729	1,7%	972 655	5,4%	922 408

Depreciation

		31/03/2012		31/03/2011		31/03/2010
Depreciation of fixed assets	GA	186 407	4,5%	178 440	-9,6%	197 440
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	395 297	32,3%	298 727	4,5%	285 750
Provisions for risks and charges	GD	13 827	-2,7%	14 211	0%	0

Other charges

		31/03/2012		31/03/2011		31/03/2010
Other charges	GE	774 170	-43,9%	1 380 880	11,4%	1 240 058

Operating charges (III-IV)

		31/03/2012		31/03/2011		31/03/2010
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/03/2012		31/03/2011		31/03/2010
	Total financial income (Total V)	GP	194 124	-30,4%	278 718	-83,7%	1 707 763
	Share financial income	GJ	1 322	-82,9%	7 729	-53,3%	16 543
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	1 504	188,7%	521	-98,3%	30 906
	Released provisions and transferred charges	GM	3 665	-94,9%	72 301	-95,1%	1 467 606
	Exchange gains	GN	187 633	-5,3%	198 168	3,1%	192 216
	Net income from disposal of investment securities	GO	0	0%	0	0%	492

Financial Charge (VI)

			31/03/2012		31/03/2011		31/03/2010
	Total financial charge (Total VI)	GU	271 795	-36,0%	424 602	15,2%	368 488
	Financial reserves and provisions	GQ	38 831	959,5%	3 665	-94,9%	72 301
	Interest and similar charges	GR	136 994	23,4%	110 998	-3,8%	115 411
	Exchange losses	GS	95 970	-69,0%	309 940	148,4%	124 778
	Net loss from disposal of investment securities	GT	0	0%	0	0%	55 998

Extraordinary income (VII)

			31/03/2012		31/03/2011		31/03/2010
	Total extraordinary income (Total VII)	HD	21 524	-72,5%	78 362	828,7%	8 438
	Extraordinary operating income	HA	21 524	-70,7%	73 362	806,2%	8 096
	Extraordinary income from capital transactions	HB	0	0%	5 000	1362,0%	342
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/03/2012		31/03/2011		31/03/2010
	Total extraordinary charges (Total VIII)	HH	526 561	2131,6%	23 596	-30,0%	33 726
	Extraordinary operating charges	HE	27 297	86,8%	14 615	59,8%	9 146
	Extraordinary charges from capital transactions	HF	0	0%	8 981	903,5%	895
	Extraordinary reserves and provisions	HG	499 264	0%	0	0%	23 685

Employee profit sharing (IX)

		31/03/2012		31/03/2011		31/03/2010
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/03/2012		31/03/2011		31/03/2010
Tax on profits (Total X)	HK	-60 000	0%	0	0%	-140 107

References

		31/03/2012		31/03/2011		31/03/2010
Of which equipment leases	HP	0	0%	29 228	8,7%	26 880
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	64 035	-42,0%	110 448
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	1 146 155	6,6%	1 075 296

Display parameter
Currency	Euro	Kilo Euro

Other incomer tax return forms 
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information 

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/03/2012		31/03/2011		31/03/2010
	Gross value at begin of period	OG	0	0%	0	0%	0
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	46 851	154,6%	18 402	-99,1%	2 162 834
	Gross value at the end of period	OL	2 999 112	0,7%	2 978 789	0,2%	2 971 651

Research and development Charge (Total I)

			31/03/2012		31/03/2011		31/03/2010
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/03/2012		31/03/2011		31/03/2010
	Gross value at begin of period	KD	271 182	0%	271 182	-0,1%	271 437
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	23 340	0%	0	0%	2 245
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	2 500
	Gross value at the end of period	LW	294 522	8,6%	271 182	0%	271 182

Tangible fixed assets (Total III)

			31/03/2012		31/03/2011		31/03/2010
	Gross value at begin of period	LN	2 620 127	0,2%	2 615 245	1,5%	2 576 285
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	42 571	82,8%	23 284	-49,0%	45 639
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	18 402	175,6%	6 677
	Gross value at the end of period	NH	2 662 698	1,6%	2 620 127	0,2%	2 615 247

Fiancial assets (Total IV)

			31/03/2012		31/03/2011		31/03/2010
	Gross value at begin of period	LQ	87 480	2,6%	85 224	-96,2%	2 220 799
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	1 264	-44,0%	2 256	-87,5%	18 081
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	46 851	0%	0	0%	2 153 657
	Gross value at the end of period	NK	41 893	-52,1%	87 480	2,6%	85 223

Reserve for depreciation
Situation and movement of reserve for depreciation
Grand total (I-II-III)

			31/03/2012		31/03/2011		31/03/2010
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/03/2012		31/03/2011		31/03/2010
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/03/2012		31/03/2011		31/03/2010
	Reserve for depreciation value at begin of period	PE	144 341	12,3%	128 526	23,6%	103 951
Increases		PF	21 192	34,0%	15 815	-41,6%	27 075
Decreasess		PG	0	0%	0	0%	2 500
	Decreasess by budget item transfer	PH	165 533	14,7%	144 341	12,3%	128 526

Total fixed assets amotisation (Total III)

			31/03/2012		31/03/2011		31/03/2010
	Reserve for depreciation value at begin of period	QU	1 648 801	10,2%	1 495 597	12,4%	1 331 014
Increases		QV	165 215	1,6%	162 625	-4,5%	170 365
Decreases		QW	0	0%	9 421	62,9%	5 782
	Decreasess by budget item transfer	QX	1 814 016	10,0%	1 648 801	10,2%	1 495 597

Movements during period affecting charge allocated over several period 
Charges à répartir ou frais d'émission d'emprunt

			31/03/2012		31/03/2011		31/03/2010
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/03/2012		31/03/2011		31/03/2010
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

Provisions included in balance sheet
Grand Total (I-II-III)

			31/03/2012		31/03/2011		31/03/2010
	Value at begining of period	7C	405 368	-29,1%	571 645	-71,8%	2 030 310
Increases		UB	947 219	199,2%	316 602	-17,1%	381 736
Decreases		UC	326 257	-32,4%	482 879	-73,8%	1 840 401
	Value at the end of period	UD	1 026 330	153,2%	405 368	-29,1%	571 645

Includes Total allocations

Operating	UE	409 124	30,7%	312 938	9,5%	285 750
Financial	UG	38 831	959,5%	3 665	-94,9%	72 301
Exceptional	UJ	499 264	0%	0	0%	23 685

Includes Total Withdrawal

Operating	UF	322 592	-21,4%	410 578	10,1%	372 795
Financial	UH	3 665	-94,9%	72 301	-95,1%	1 467 606
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/03/2012		31/03/2011		31/03/2010
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/03/2012		31/03/2011		31/03/2010
	Value at begining of period	5Z	50 306	-56,2%	114 912	97,0%	58 331
Increases		TV	52 658	44,4%	36 479	-68,3%	114 912
Decreases		TW	22 268	-78,0%	101 085	73,3%	58 331
	Value at the end of period	TX	80 696	60,4%	50 306	-56,2%	114 912

Total Provision for depreciation (Total III)

			31/03/2012		31/03/2011		31/03/2010
	Value at begining of period	7B	355 063	-22,3%	456 733	-76,8%	1 971 979
Increases		TY	894 561	219,3%	280 123	5,0%	266 824
Decreases		TZ	303 988	-20,4%	381 794	-78,6%	1 782 069
	Value at the end of period	UA	945 636	166,3%	355 062	-22,3%	456 734

State deadlines claims and debts at the end of period
State claims

		31/03/2012		31/03/2011		31/03/2010
Gross value	VT	3 253 365	-23,3%	4 241 961	15,4%	3 675 808
1 year at most	VU	2 860 105	-24,7%	3 799 265	29,3%	2 937 384
More than one year	VV	393 260	-11,2%	442 696	-40,0%	738 424

State of loans

		31/03/2012		31/03/2011		31/03/2010
Claims related to holdings (gross)	UL	0	0%	46 678	5,1%	44 422
Claims related to shareholdings (1 year at most)	UM	0	0%	46 678	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	38 004	3,0%	36 914	0%	36 914
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/03/2012		31/03/2011		31/03/2010
Customers doubtful or disputed	VA	95 112	-38,8%	155 512	-39,5%	256 945
Other claims customer	UX	1 770 828	-31,0%	2 565 199	46,4%	1 752 777
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	3 000	-69,5%	9 850	-18,6%	12 100
Social Security and other social organizations	UZ	0	0%	16 437	0%	0
Income taxes	VM	60 000	0%	0	0%	140 107
Value added tax	VB	101 070	-79,4%	491 654	143,2%	202 150
Other taxes and payments assimilated	VN	0	0%	0	0%	45 247
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	960 287	149,4%	385 081	-59,7%	955 950

Prepaid

		31/03/2012		31/03/2011		31/03/2010
Prepaid	VS	225 063	-57,9%	534 638	133,3%	229 196

State Debt

			31/03/2012		31/03/2011		31/03/2010
	Total debt (gross)	VY	6 662 715	1,1%	6 591 487	36,7%	4 821 094
1 year at most		VZ2	6 662 715	1,6%	6 559 944	38,1%	4 749 472
More than 1 year and 5 years at most		VZ3	0	0%	31 543	-56,0%	71 622
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/03/2012		31/03/2011		31/03/2010
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	1 110 765	95,3%	568 735	216,8%	179 539
1 year at most		VG2	1 110 765	95,3%	568 735	216,8%	179 539
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	31 543	-56,0%	71 622	-60,7%	182 074
1 year at most		VH2	31 543	-21,3%	40 079	-63,7%	110 452
More than 1 year and 5 years at most		VH3	0	0%	31 543	-56,0%	71 622
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	4 121 583	-14,7%	4 830 248	36,9%	3 529 127
1 year at most		8B2	4 121 583	-14,7%	4 830 248	36,9%	3 529 127
More than 1 year and 5 years at most		8B3	4 121 583	-14,7%	4 830 248	36,9%	3 529 127
	Personnel and associated accounts (gross)	8C1	167 847	-20,5%	211 168	13,0%	186 919
1 year at most		8C2	167 847	-20,5%	211 168	13,0%	186 919
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	272 568	-5,0%	286 999	12,9%	254 193
1 year at most		8D2	272 568	-5,0%	286 999	12,9%	254 193
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	37 523	23953,2%	156	-96,0%	3 890
1 year at most		VW2	37 523	23953,2%	156	-96,0%	3 890
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	113 975	-26,1%	154 199	20,8%	127 701
1 year at most		VQ2	113 975	-26,1%	154 199	20,8%	127 701
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	160 131	3776,3%	4 131	0%	4 131
1 year at most		VI2	160 131	3776,3%	4 131	0%	4 131
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	646 780	39,3%	464 228	31,3%	353 518
1 year at most		8K2	646 780	39,3%	464 228	31,3%	353 518
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/03/2012		31/03/2011		31/03/2010
Loans made during the period	VJ	0	0%	0	0%	400 000
Debt repaid during the period	VK	40 079	-63,7%	110 452	-82,3%	624 656

Table allocation results and other information 
Dividends distributed

		31/03/2012		31/03/2011		31/03/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/03/2012		31/03/2011		31/03/2010
Commitments leasing furniture	YQ	0	0%	86 680	38,2%	62 733
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	405 792	27,2%	318 984

Other charges Externes

		31/03/2012		31/03/2011		31/03/2010
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	192 243	-0,4%	192 925
Staff outside the company	YU	0	0%	59 334	212,7%	18 976
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	1 010 302	-3,9%	1 050 880
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	1 811 946	11,3%	1 628 530
Total Other purchases and external	ZJ	0	0%	3 073 825	6,3%	2 891 311

Taxes and Fees

		31/03/2012		31/03/2011		31/03/2010
Business tax	YW	0	0%	106 601	5,0%	101 485
Other taxes and payments assimilated	9Z	0	0%	217 645	3,3%	210 599
Total taxes and fees	YX	0	0%	324 246	3,9%	312 084

VAT

		31/03/2012		31/03/2011		31/03/2010
Amount VAT collected	YY	0	0%	2 555 197	6,1%	2 408 645
Total VAT on goods and services	YZ	0	0%	3 118 631	52,1%	2 050 921

Average number of employees

		31/03/2012		31/03/2011		31/03/2010
Average number of employees	YP	48	4,3%	46	2,2%	45

Groups and Shareholders

		31/03/2012		31/03/2011		31/03/2010
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

Ratios 
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital 

Structure and Liquidity

		31/03/2012		31/03/2011		31/03/2010	Sector Median 2012
Fixed Asset Financing		2,05	19,2%	1,72	-1,1%	1,74	2,37	-13,5%
Global Debt		122 days	0,8%	121 days	19,8%	101 days	137 days	-10,9%
Working Capital Fund overall net		57 days	46,2%	39 days	-15,2%	46 days	61 days	-6,6%
Financial independence		244,59%	-51,2%	501,25%	-44,3%	900,63%	310,21%	-21,2%
More ratios
Solvability		28,91%	-10,3%	32,22%	-18,7%	39,62%	29,31%	-1,4%
Capacity debt futures		244,59%	-53,6%	527,22%	-53,1%	1123,07%	1200%	-79,6%
Coverage of current assets by net working capital overall		33,49%	35,4%	24,73%	-20,4%	31,05%	39,40%	-15,0%
General Liquidity		0,43	-25,9%	0,58	-6,5%	0,62	0,42	2,4%
Restricted Liquidity		0,53	-17,2%	0,64	-8,6%	0,70	0,79	-32,9%

Management or rotation

		31/03/2012		31/03/2011		31/03/2010	Sector Median 2012
Need background in operating working capital		40 days	17,6%	34 days	-2,9%	35 days	19 days	110,5%
Treasury		12 days	500%	-3 days	-160,0%	5 days	8 days	50,0%
Inventory turnover of goods		89 days	-34,1%	135 days	20,5%	112 days	104 days	-14,4%
Average length of credit granted to customers		33 days	-34,0%	50 days	16,3%	43 days	32 days	3,1%
Average length of credit obtained suppliers		89 days	-6,3%	95 days	14,5%	83 days	56 days	58,9%
More ratios
Inventory turnover of raw materials in industrial enterprises		0 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		754 days	-	days	-	days	1644 days	-54,1%
Rotation tangible assets		753,76%	-0,5%	757,24%	14,7%	660,04%	1874,84%	-59,8%

Profitability of the business

		31/03/2012		31/03/2011		31/03/2010	Sector Median2012
Margin trading		2,71%	-93,1%	39,26%	-2,9%	40,44	33,26%	-91,9%
Profitability of the business		5,37	-17,4%	6,50	67,1%	3,89	3,76%	42,8%
Net profit		-2,07%	-762,5%	-0,24%	-104,7%	5,14%	1,91%	-208,4%
More ratios
Growth rate of turnover (excluding VAT)		1,16%	-92,2%	14,94%	0%	0%	0%	0%
Rates integration		22,23%	-5,4%	23,49%	1,2%	23,20%	20,44%	8,8%
Rate leasing furniture		0%	0%	0,15%	-6,2%	0,16%	0%	0%
Work Factor		69,10%	5,7%	65,37%	-13,4%	75,45%	67,74%	2,0%
Weight interests		1,35	-36,9%	2,14%	0,5%	2,13%	0,32%	321,9%

Return on capital

		31/03/2012		31/03/2011		31/03/2010	Sector Median 2012
Cash flow from the overall profitability		-0,09%	94,8%	-1,73%	54,7%	-3,82%	2,81%	-103,2%
Rates of economic profitability		26%	-21,2%	33%	73,7%	19%	14%	85,7%
Financial profitability		2794028%	-13,0%	3209760%	-1,4%	3256796%	46813%	5868,5%
Return on investment		-3,51%	-135,8%	9,80%	-71,7%	34,68%	10,92%	-132,1%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion 

	31/03/2012		31/03/2011		31/03/2010	Sector Median 2012
Turnover	20 070 251	1,2%	19 840 769	14,9%	17 261 588	398 848 €	4932,1%

Sales of goods	1 876 523	-90,5%	19 820 519	14,8%	17 262 989
- Purchase of goods	1 352 132	-89,9%	13 364 908	28,2%	10 426 275
+/- Stock of goods variation	-20 429	98,5%	-1 334 804	-831,4%	-143 314
Trading margin	544 820 €	-93,0%	7 790 415 €	11,6%	6 980 028 €	113 000 €	382,1%
	2,71 % CA	-93,1%	39,26 % CA	-2,9%	40,44 % CA	34,42 % CA	-92,1%

Sale of goods produced	18 193 728	89741,1%	20 251	1545,5%	-1 401
+/- Stocked production	1 070 545	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	19 264 273 €	95027,5%	20 251 €	1545,5%	-1 401 €	4 823,50 €	399283,7%
	95,98 % CA	95880,0%	0,10 % CA	1100%	-0,01 % CA	1,57 % CA	6013,4%

Trading margin	544 820	-93,0%	7 790 415	11,6%	6 980 028	113 000	382,1%
+ Period Production	19 264 273	95027,5%	20 251	1545,5%	-1 401	4 823,50	399283,7%
- Purchase of raw materials	137 131	78,3%	76 900	-7,4%	83 016
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	15 210 516	394,8%	3 073 825	6,3%	2 891 311
Added value	4 461 446 €	-4,3%	4 659 941 €	16,4%	4 004 300 €	92 655,50 €	4715,1%
	22,23 % CA	-5,4%	23,49 % CA	1,2%	23,20 % CA	20,44 % CA	8,8%

Added value	4 461 446 €	-4,3%	4 659 941 €	16,4%	4 004 300 €	92 655,50 €	4715,1%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	301 397	-7,0%	324 246	3,9%	312 084
- Personal charges	3 082 768	1,2%	3 046 354	0,8%	3 021 206
Gross operating surplus	1 077 281 €	-16,4%	1 289 341 €	92,1%	671 010 €	16 504 €	6427,4%
	5,37 % CA	-17,4%	6,50 % CA	67,1%	3,89 % CA	3,76 % CA	42,8%

Gross operating surplus	1 077 281 €	-16,4%	1 289 341 €	92,1%	671 010 €	16 504 €	6427,4%
+ Release of reserves and provisions	394 213	-16,9%	474 613	-2,3%	485 743
+ Other operating income	5 181	-96,6%	152 387	165538,0%	92
- Depreciation/Amortisation	595 531	21,2%	491 378	1,7%	483 190
- Other charges	774 170	-43,9%	1 380 880	11,4%	1 240 058
Operating result	106 974 €	142,7%	44 083 €	107,8%	-566 403 €	12 934,50 €	727,0%
	0,53 % CA	140,9%	0,22 % CA	106,7%	-3,28 % CA	2,73 % CA	-80,6%

Operating result	106 974 €	142,7%	44 083 €	107,8%	-566 403 €	12 934,50 €	727,0%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	194 124	-30,4%	278 718	-83,7%	1 707 763
- Financial charges	271 795	-36,0%	424 602	15,2%	368 488
Pre-tax result	29 303 €	128,8%	-101 801 €	-113,2%	772 872 €	11 350 €	158,2%
	0,15 % CA	129,4%	-0,51 % CA	-111,4%	4,48 % CA	2,13 % CA	-93,0%

Extraordinary income	21 524	-72,5%	78 362	828,7%	8 438	0	0%
- Extraordinary charges	526 561	2131,6%	23 596	-30,0%	33 726
Extraordinary result	-505 037 €	-1022,2%	54 766 €	316,6%	-25 288 €	0 €	0%
	-2,52 % CA	-1000%	0,28 % CA	286,7%	0 % CA	-00,01 % CA	-25100%

Pre-tax result	29 303 €	128,8%	-101 801 €	-113,2%	772 872 €	11 350 €	158,2%
Extraordinary result	-505 037 €	-1022,2%	54 766 €	316,6%	-25 288 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	-60 000	0%	0	0%	-140 107
Net result	-415 734 €	-783,9%	-47 035 €	-105,3%	887 691 €	10 985,50 €	-3884,4%
	-2,07 % CA	-762,5%	-0,24 % CA	-104,7%	5,14 % CA	1,91 % CA	-208,4%

judgements

Collective procedures

No judgment information for the company

   Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Summary of preferential rights

Company monitored since	29/11/2010
Status of Monitoring	No social security and tax office preferential right to date

Group data

Ultimate parent company	GROUPE JAJ
Direct parent	-
Group – Number of companies	3
Linkages – Number of companies	-
Number of countries	-
Go directly to the current company
Display only where participation % > 33 %
Display all participations
Company Name		SIREN	Parts	Last account published
GROUPE JAJ		592013155	-	31/03/2012
D'DISTRIBUTION		423026400	51%	31/03/2012
D DISTRIBUTION US		-	100%	-
Type of shareholder
Shareholders

Linkages

Ultimate parent company	GROUPE JAJ
Direct parent	-
Group – Number of companies	3
Linkages – Number of companies	-
Number of countries	-
No linked companies

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
03/01/2013	Bodacc C	Comptes annuels et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 10777 - 592013155 RCS. GROUPE JAJ. Forme : Société anonyme. Adresse : 40-48 rue Beaumarchais 93100 Montreuil. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2012.
25/11/2011	Bodacc C	Comptes annuels et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 13162 - 592013155 RCS. GROUPE JAJ. Forme : Société anonyme. Adresse : 40-48 rue Beaumarchais 93100 Montreuil. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2011.
28/10/2011	Bodacc B	Modification et mutation diverse
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 2331 - 592 013 155 RCS Bobigny. GROUPE JAJ. Forme : Société anonyme. Administration : Président du conseil d'administration et directeur général : JABLONSKI Joseph Commissaire aux comptes titulaire : CABINET GUILLERET ET ASSOCIES modification le 13 Mars 2009 Commissaire aux comptes suppléant : COMPAGNIE FIDUCIAIRE D'EXPERTISE COMPTABLE COFIEC Co-commissaire aux comptes titulaire : SOCIETE FIDUCIAIRE D'EXPERTISE COMPTABLE ET D'ETUDES ECONOMIQUES PAUL BRUNIER en fonction le 31 Octobre 2007 Directeur général délégué et administrateur : DAUMAN Bruno modification le 25 Juin 2009 Commissaire aux comptes suppléant : GUILLERET René en fonction le 20 Octobre 2011 Administrateur : KERBEK Annie en fonction le 20 Octobre 2011. Activité : .  Commentaires : Modification de représentant.
13/10/2011	JAL	Appointment of the social representative
Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Société faisant l'objet d'une nomination : 592013155 - GROUPE JAJ, 40 RUE BEAUMARCHAIS, 40A 48, 93100 MONTREUIL SOUS BOIS  Nominé : Madame Annie PASCUCCIO, 94300 VINCENNES En la fonction de : Administrateur Date d'effet : 22/09/2011
13/10/2011	JAL	Resignation / Revocation of the social representative
Petites affiches (Les) - La Loi - Le Quotidien juridique - archives commerciales de la France Date de décision : 22/09/2011 La société 592013155 - GROUPE JAJ, 40 RUE BEAUMARCHAIS, 40A 48, 93100 MONTREUIL SOUS BOIS  Fait l'objet du départ de Madame Marie José ROCHEREAU  Date d'effet : 22/09/2011
30/11/2010	Bodacc C	Comptes annuels et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 13461 - 592013155 RCS. GROUPE JAJ. Forme : Société anonyme. Adresse : 40-48 rue Beaumarchais 93100 Montreuil. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2010.
27/12/2009	Bodacc B	Modification et mutation diverse
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 2582 - 592 013 155 RCS Bobigny. GROUPE JAJ. Forme : Société anonyme. Administration : Président du conseil d'administration et directeur général : JABLONSKI Joseph Commissaire aux comptes titulaire : CABINET GUILLERET ET ASSOCIES modification le 13 Mars 2009 Administrateur : ROBIN Marcel Lucien Commissaire aux comptes suppléant : COMPAGNIE FIDUCIAIRE D'EXPERTISE COMPTABLE COFIEC Co-commissaire aux comptes titulaire : SOCIETE FIDUCIAIRE D'EXPERTISE COMPTABLE ET D'ETUDES ECONOMIQUES PAUL BRUNIER en fonction le 31 Octobre 2007 Directeur général délégué et administrateur : DAUMAN Bruno modification le 25 Juin 2009 Commissaire aux comptes suppléant : ROCHEREAU Marie José en fonction le 11 Février 2009.  Commentaires : Modification de représentant.
27/12/2009	Bodacc B	Modification et mutation diverse
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 2584 - 592 013 155 RCS Bobigny. GROUPE JAJ. Forme : Société anonyme. Capital : 3560939 EUR.  Commentaires : Modification du capital.
23/12/2009	Bodacc C	Comptes annuels, consolidés et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 9584 - Rectificatif. Parution avis précédent : BODACC C. Numéro de parution : 8966. Date de parution : 26 novembre 2009. Numéro d’annonce : 8966. Cet avis est annulé et remplacé par le suivant. 592013155 RCS. GROUPE JAJ. Forme : Société anonyme. Adresse : 40-48 rue Beaumarchais 93100 Montreuil. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2009.
11/12/2009	JAL	Resignation / Revocation of the social representative
AFFICHES PARISIENNES ET DEPARTEMENTALES Date de décision : 24/09/2009 La société 592013155 - GROUPE JAJ, 40 RUE BEAUMARCHAIS, 40A 48, 93100 MONTREUIL SOUS BOIS  Fait l'objet du départ de Monsieur Franck KALFON
11/12/2009	JAL	Modification of the share capital
AFFICHES PARISIENNES ET DEPARTEMENTALES Date de décision : 07/12/2009 La société : 592013155 - GROUPE JAJ, 40 RUE BEAUMARCHAIS, 40A 48, 93100 MONTREUIL SOUS BOIS a subi une diminution de son capital social désormais de 3 560 939 €
26/11/2009	Bodacc C	Comptes annuels et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 8966 - 592013155 RCS. GROUPE JAJ. Forme : Société anonyme. Adresse : 40-48 rue Beaumarchais 93100 Montreuil. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2009.
26/11/2009	Bodacc C	Comptes annuels et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 8967 - 592013155 RCS. GROUPE JAJ. Forme : Société anonyme. Adresse : 40-48 rue Beaumarchais 93100 Montreuil. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2009.
03/07/2009	Bodacc B	Modification et mutation diverse
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 1513 - 592 013 155 RCS Bobigny. GROUPE JAJ. Forme : Société anonyme. Administration : Président du conseil d'administration et directeur général : JABLONSKI Joseph. Commissaire aux comptes titulaire : CABINET GUILLERET ET ASSOCIES modification le 13 Mars 2009. Administrateur : ROBIN Marcel Lucien. Administrateur : KALFON Franck. Commissaire aux comptes suppléant : COMPAGNIE FIDUCIAIRE D'EXPERTISE COMPTABLE COFIEC. Co-commissaire aux comptes titulaire : SOCIETE FIDUCIAIRE D'EXPERTISE COMPTABLE ET D'ETUDES ECONOMIQUES PAUL BRUNIER en fonction le 31 Octobre 2007. Directeur général délégué et administrateur : DAUMAN Bruno modification le 25 Juin 2009. Commissaire aux comptes suppléant : ROCHEREAU Marie José en fonction le 11 Février 2009.  Commentaires : Modification de représentant.
22/02/2009	Bodacc B	Modification et mutation diverse
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 1664 - 592 013 155 RCS Bobigny. GROUPE JAJ. Forme : Société anonyme. Administration : Président du conseil d'administration et directeur général : JABLONSKI Joseph. Commissaire aux comptes titulaire : CABINET GUILLERET ASSOCIES S. A. R. L.. Administrateur : ROBIN Marcel Lucien. Administrateur : KALFON Franck. Commissaire aux comptes suppléant : COMPAGNIE FIDUCIAIRE D'EXPERTISE COMPTABLE COFIEC. Co-commissaire aux comptes titulaire : SOCIETE FIDUCIAIRE D'EXPERTISE COMPTABLE ET D'ETUDES ECONOMIQUES PAUL BRUNIER en fonction le 31 Octobre 2007. Administrateur : DAUMAN Bruno en fonction le 11 Février 2009. Commissaire aux comptes suppléant : ROCHEREAU Marie José en fonction le 11 Février 2009.  Commentaires : Modification de représentant.
29/01/2009	Bodacc C	Comptes annuels et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 9471 - 592013155 RCS. GROUPE JAJ. Forme : Société anonyme. Adresse : 40-48 rue Beaumarchais 93100 Montreuil. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2008.
29/01/2009	Bodacc C	Comptes consolidés et rapports
93 - SEINE-SAINT-DENIS GREFFE DU TRIBUNAL DE COMMERCE DE BOBIGNY 9472 - 592013155 RCS. GROUPE JAJ. Forme : Société anonyme. Adresse : 40-48 rue Beaumarchais 93100 Montreuil. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2008.
28/12/2007	Bodacc C	Avis de dépôt des comptes
12225 - 592 013 155. RCS Bobigny GROUPE JAJ. Forme: Société anonyme. Adresse du siège social: 40-48 rue Beaumarchais 93100 Montreuil. Comptes consolidés et rapport de l'exercice clos le: 31 mars 2007.
28/12/2007	Bodacc C	Avis de dépôt des comptes
12226 - 592 013 155. RCS Bobigny GROUPE JAJ. Forme: Société anonyme. Adresse du siège social: 40-48 rue Beaumarchais 93100 Montreuil. Comptes annuels et rapports de l'exercice clos le: 31 mars 2007.
16/11/2007	Bodacc B	Modifications et mutations diverses
909 - RCS Bobigny B 592 013 155. RC 05-B 3765. GROUPE JAJ. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes titulaire partant : BOUVIER (Jean, Paul). Nomination d'un co-commissaire aux comptes titulaire : SOCIETE FIDUCIAIRE D'EXPERTISE COMPTABLE ET D'ETUDES ECONOMIQUES PAUL BRUNIER.
22/12/2006	Bodacc C	Avis de dépôt des comptes
8326 - RCS Bobigny B 592 013 155. RC 05-B 3765. GROUPE JAJ. Forme: S.A. Adresse du siège social: 40-48, rue Beaumarchais,93100 Montreuil. Comptes consolidés et rapport de l'exercice clos le: 31 mars 2006.
22/12/2006	Bodacc C	Avis de dépôt des comptes
8327 - RCS Bobigny B 592 013 155. RC 05-B 3765. GROUPE JAJ. Forme: S.A. Adresse du siège social: 40-48, rue Beaumarchais,93100 Montreuil. Comptes annuels et rapports de l'exercice clos le: 31 mars 2006.
20/01/2006	Bodacc C	Avis de dépôt des comptes
3544 - RCS Bobigny B 592 013 155. RC 05-B 3765. GROUPE JAJ. Forme: S.A. Adresse du siège social: 40-48, rue Beaumarchais,93100 Montreuil. Comptes consolidés et rapport de l'exercice clos le: 31 mars 2005.
20/01/2006	Bodacc C	Avis de dépôt des comptes
3545 - RCS Bobigny B 592 013 155. RC 05-B 3765. GROUPE JAJ. Forme: S.A. Adresse du siège social: 40-48, rue Beaumarchais,93100 Montreuil. Comptes annuels et rapports de l'exercice clos le: 31 mars 2005.
02/08/2005	Bodacc B	Modifications et mutations diverses
3017 - RCS B 592 013 155. RC 05-B 3765. GROUPE JAJ. Forme : S.A. Capital : 3 890 000 euros. Activité : vente en gros de textiles achat. import-export, vente, négoce sous toutes ses formes. Commission et courtage portant sur tout ce qui touche à l'habillement pour hommes, femmes et enfants et tous articles de textiles sans restriction, ni réserve chaussures, maroquinerie et accessoires . Adresse du siège social : 40-48 rue Beaumarchais, 93100 Montreuil. Administration : président du conseil d'administration et directeur général : JABLONSKI (Joseph). Commissaire aux comptes titulaire : CABINET GUILLERET ASSOCIES S.A.R.L. Administrateurs : PASCUCCIO, née KERBEL (Annie) ROBIN (Marcel, Lucien) KALFON (Franck). Commissaire aux comptes titulaire : BOUVIER (Jean, Paul). Commissaires aux comptes suppléants : COMPAGNIE FIDUCIAIRE D'EXPERTISE COMPTABLE COFIEC GUILLERET (René). Commentaires : cette société transfère son siège du 10 rue Dupetit-Thouars, 75003 Paris. Date d'effet : 1er juillet 2005.
29/11/2002	Bodacc B	Modifications et mutations diverses
RCS Paris B 592013155 RC 59-B 1315 GROUPE J.A.J. Forme : S.A. Capital : 3 890 000 euros. Commentaires : modification survenue sur le capital (augmentation) et l'administration. Administration : modification du président du conseil d' administration et directeur général : JABLONSKI (Joseph).
15/11/2001	Bodacc B	Modifications et mutations diverses
RCS Paris B 592013155 RC 59-B 1315 GROUPE JAJ. Forme : S.A. Capital : 4 000 000 d'euros. Commentaires : modification survenue sur la dénomination, le capital (augmentation) et l' administration. Administration : nomination du commissaire aux comptes titulaire : BOUVIER (Jean, Paul). Nomination du commissaire aux comptes suppléant : COMPAGNIE FIDUCIAIRE D' EXPERTISE COMPTABLE-COFIEC.
07/06/2001	Bodacc B	Modifications et mutations diverses
RCS Paris B 592013155 RC 59-B 1315 J.A. J. DISTRIBUTION. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : directeur général non administrateur partant : JABLONSKI (Michel). Administrateur partant : DAUMAN, née JABLONSKI (Nelly, Jeanne). Nomination d' un administrateur : KALFON (Franck).
05/02/1999	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 592 013 155 RC RC 59- B 1315 J.A.J. DISTRIBUTION. Forme : S.A. Administration : nomination en qualité d' administrateur : ROBIN (Marcel, Lucien). Commentaires : modification survenue sur l'administration.
09/08/1998	Bodacc B	Modifications et mutations diverses
RCS Paris B 592 013 155 RC 59-B 1315 J. A.J. DISTRIBUTION. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : directeur général non administrateur partant : JABLONSKY (Maurice). Nomination du directeur général non administrateur : JABLONSKI (Michel).
12/06/1998	Bodacc B	Modifications et mutations diverses
RCS *. RCS Paris B 592 013 155 RC RC 59- B 1315 J.A.J. DISTRIBUTION. Forme : S.A. Administration : modification : directeur général non administrateur : JABLONSKY (Maurice). Nomination en qualité d'administrateur : Mme PASCOCCIO, née KERBEL (Annie). Commentaires : modification survenue sur l'administration.

Company events history

Date	Description
01/02/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
03/01/2013	Bodacc C : Deposit accounts notice
31/03/2012	New accounts available
25/11/2011	Bodacc C : Deposit accounts notice
18/11/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
28/10/2011	Bodacc B: Various editing or changing
20/10/2011	New auditor
20/10/2011	Changes to the Board of Directors
20/10/2011	Minutes of general meeting of shareholders
13/10/2011	Legal Gazette: Resignation / Revocation of the social representative
22/09/2011	Legal Gazette: Appointment of the social representative
31/03/2011	New accounts available
30/11/2010	Bodacc C : Deposit accounts notice
29/11/2010	Collection of preferential rights activated for this company
12/11/2010	Update of participations in other companies
12/11/2010	Disengagement in other companies
31/03/2010	New accounts available
27/12/2009	Bodacc B: Various editing or changing
23/12/2009	Bodacc C : Update of deposit accounts notice
15/12/2009	Minutes of Board meeting
15/12/2009	Capital reduction
15/12/2009	Updated articles of association
14/12/2009	Disengagement in other companies
11/12/2009	Legal Gazette: Resignation / Revocation of the social representative
07/12/2009	Other modification of Establishment
07/12/2009	Legal Gazette: Modification of the share capital
26/11/2009	Bodacc C : Deposit accounts notice
12/10/2009	Minutes of general meeting of shareholders
12/10/2009	Capital reduction
09/07/2009	Minutes of general meeting of shareholders
09/07/2009	Private document
09/07/2009	Updated articles of association
03/07/2009	Bodacc B: Various editing or changing
25/06/2009	Minutes of Board meeting
25/06/2009	Changes to the Board of Directors
25/06/2009	Minutes of general meeting of shareholders
25/06/2009	Appointment/resignation of company officers
25/06/2009	Private document
31/03/2009	New accounts available
22/02/2009	Bodacc B: Various editing or changing
22/02/2009	New Bodacc B ads detected
11/02/2009	New auditor
11/02/2009	Appointment/resignation of company officers
11/02/2009	Private document
11/02/2009	Changes to the Board of Directors
11/02/2009	Minutes of general meeting of shareholders
29/01/2009	Bodacc C : Deposit accounts notice
29/07/2008	Requête et Ordonnance
29/07/2008	Application and court order
29/07/2008	Prorogation de durée
31/10/2007	PV d'Assemblée
31/10/2007	Private document
31/10/2007	Appointment/resignation of company officers
31/10/2007	Minutes of general meeting of shareholders
31/10/2007	New auditor
31/03/2007	New accounts available
31/03/2006	New accounts available
20/09/2005	Prorogation de durée
20/09/2005	Requête et Ordonnance
06/07/2005	Private document
06/07/2005	Acte sous seing privé
06/07/2005	Immatriculation suite à transfert
06/07/2005	Registration after transfer
06/07/2005	Transfert du Siège dans le ressort du Tribunal de Commerce
06/07/2005	Updated articles of association
06/07/2005	Statuts mis à jour
06/07/2005	PV d'Assemblée
06/07/2005	Minutes of general meeting of shareholders
31/03/2005	New accounts available
31/03/2004	New accounts available
31/03/2003	New accounts available
15/11/2002	Changement de Président (PDG, PCA)
15/11/2002	Acte sous seing privé
15/11/2002	PV d'Assemblée
15/11/2002	Nomination/démission des organes de gestion
15/11/2002	Réduction de Capital
15/11/2002	Rapport des Commissaires ou du Gérant
15/11/2002	Modification du Conseil d'Administration
15/11/2002	Statuts mis à jour
15/11/2002	PV du Conseil d'Administration
30/11/2001	Statuts mis à jour
30/11/2001	PV d'Assemblée
30/11/2001	Acte sous seing privé
02/11/2001	Nomination/démission des organes de gestion
02/11/2001	PV d'Assemblée
02/11/2001	Acte sous seing privé
02/11/2001	Changement de dénomination sociale
02/11/2001	Statuts mis à jour
02/11/2001	Augmentation de Capital
02/11/2001	Modification du Conseil d'Administration
02/11/2001	Conversion du Capital Social en Euros
23/05/2001	PV du Conseil d'Administration
23/05/2001	Modification du Conseil d'Administration
23/05/2001	Acte sous seing privé
23/05/2001	Nomination/démission des organes de gestion
23/05/2001	Changement de Président (PDG, PCA)
20/01/1999	Acte sous seing privé
20/01/1999	Nomination/démission des organes de gestion
20/01/1999	PV d'Assemblée
20/01/1999	Modification du Conseil d'Administration
02/10/1998	Acte sous seing privé
02/10/1998	PV du Conseil d'Administration
02/10/1998	Statuts mis à jour
02/10/1998	PV d'Assemblée
27/07/1998	Acte sous seing privé
27/07/1998	Statuts mis à jour
27/07/1998	Modification du Conseil d'Administration
27/07/1998	PV du Conseil d'Administration
27/07/1998	Nomination/démission des organes de gestion
26/05/1998	Modification du Conseil d'Administration
26/05/1998	Rapport des Commissaires ou du Gérant
26/05/1998	PV d'Assemblée
26/05/1998	Acte sous seing privé
31/12/1997	PV d'Assemblée
31/12/1997	Acte sous seing privé
31/12/1997	Changement de date de clôture
31/12/1997	Statuts mis à jour
08/07/1996	PV d'Assemblée
08/07/1996	Modification du Conseil d'Administration
08/07/1996	Statuts mis à jour
08/07/1996	Acte modificatif
08/07/1996	Augmentation de Capital
06/02/1996	PV du Conseil d'Administration
06/02/1996	Modification du Conseil d'Administration
06/02/1996	Acte modificatif
18/07/1994	Acte modificatif
18/07/1994	PV d'Assemblée

Establishment events history

Date	Description
01/02/2013	Update Rating
01/02/2013	Update Limit
05/01/2013	Update Limit
08/12/2012	Update Rating
18/11/2011	Update Limit
18/11/2011	Update Rating
06/05/2011	Update Rating
30/11/2010	Update Rating
30/11/2010	Update Limit
04/09/2010	Update Limit
29/12/2009	Update Rating
29/12/2009	Update Limit
26/12/2009	Update Rating
26/12/2009	Update Limit
08/12/2009	Update Limit
08/12/2009	Update Rating
27/11/2009	Update Limit
06/07/2009	Update Rating
18/06/2009	Update of phone numbers
26/01/2009	Update Rating
26/01/2009	Update Limit
03/12/2008	Update Rating
03/12/2008	Update Limit
03/09/2008	Update Rating
16/12/2007	Update Limit
09/12/2007	Update Limit
07/12/2007	Update Rating
07/12/2007	Update Limit
06/12/2007	Update Rating
06/12/2007	Update Limit
23/11/2007	Update Rating
23/11/2007	Update Limit

directors

Name	M. JABLONSKI JOSEPH
Manager position	Président du conseil d'administration, Directeur général	Date of birth	13/07/1928
Place of birth	PARIS
Type	Individual	Name at birth

Name	M. DAUMAN BRUNO
Manager position	Directeur général délégué, Administrateur	Date of birth	30/06/1979
Place of birth	NEUILLY SUR SEINE
Type	Individual	Name at birth

Name	Mme. PASCUCCIO ANNIE
Manager position	Administrateur	Date of birth	01/07/1950
Place of birth	MONTREUIL
Type	Individual	Name at birth	KERBEL

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Président du conseil d'administration	M JOSEPH JABLONSKI	- - PARIS
Directeur général	M JOSEPH JABLONSKI	- - PARIS
Directeur général délégué	M BRUNO DAUMAN	- - NEUILLY SUR SEINE
Administrateur	M BRUNO DAUMAN	- - -
Administrateur	M BRUNO DAUMAN	- - NEUILLY SUR SEINE
Administrateur	M FRANCK KALFON	- - ST DENIS
Administrateur	M MARCEL LUCIEN ROBIN	- - ANGERS
Directeur général délégué	M BRUNO DAUMAN	30/06/1979 - NEUILLY SUR SEINE

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.77
UK Pound	1	Rs.83.31
Euro	1	Rs.70.46

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.