MIRA INFORM REPORT

Report Date :

02.08.2014

IDENTIFICATION DETAILS

Name :	IN-LUSTRYS
Registered Office :	La Tuiliere, Che De La Montee Des Chenes, 83136 Neoules
Country :	France
Financials (as on) :	31.03.2013
Date of Incorporation :	April 2002
Com. Reg. No.:	RCS Draguignan 0 441 879 194
Legal Form :	Limited Liability Company
Line of Business :	· Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished products Engaged as Trader, Brokerage, Representation, Purchase and sale of Aromatic Raw Materials of all perfumery and Herbal Medicine as well as derivatives
No of Employees :	02 (31.03.2013)

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 :	Slow but Correct
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 – June 01, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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 82 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 mitigate economic inequality. France's real GDP stagnated in 2012 and 2013. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2013. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 22.8% in the fourth quarter of 2013. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.1% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. In accordance with its EU obligations, France is targeting a deficit of 3.6% of GDP in 2014 and 2.8% in 2015. The administration of President Francois HOLLANDE has implemented greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, including a temporary 75% tax on wages over one million euros, and hiring an additional 60,000 teachers during his five-year term. In January 2014 HOLLANDE proposed a “Responsibility Pact” aimed primarily at lowering labor costs in return for businesses’ commitment to create jobs. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds.

Source : CIA

company summary

Top of Form

Name

IN-LUSTRYS

SIRET

441 879 194 00021

Activity (APE)	· Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished products Engaged as Trader, Brokerage, Representation, Purchase and sale of Aromatic Raw Materials of all perfumery and Herbal Medicine as well as derivatives	EUR VAT Number	FR92441879194
Address	IN-LUSTRYS LA TUILIERE CHE DE LA MONTEE DES CHENES 83136 NEOULES	Legal form	Limited Liability Company
Nationality	France	RCS Registration	RCS Draguignan 0 441 879 194
		Share capital	600,000 Euros
		Incorporated Date	05/2002
		Status	Economically active

This company is not under monitoring

Current Directors

2

Trading to Date	03/31/2013	03/31/2012	03/31/2011
Turnover	2,522,231 €	2,772,925 €	2,976,270 €
Gross Operating Surplus	1.12 % Turnover	7.91 % Turnover	8.24 % Turnover
Shareholders’ equity	625,177 €	715,958 €	669,997 €
Net result	219 €	133,681 €	144,139 €
Employees	02 (31.03.2013)	-	-

Trends
Profitability
Liquidity
Net worth

Company details

Activity (APE)	· Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished products Engaged as Trader, Brokerage, Representation, Purchase and sale of Aromatic Raw Materials of all perfumery and Herbal Medicine as well as derivatives
RCS Registration	RCS Draguignan 0 441 879 194	Share capital	600,000 Euros
Registration Court	Draguignan (83)	Legal form	Limited Liability Company
Court Registry Number	20 0 4B40382	EUR VAT Number	FR92441879194
Incorporation Date	05/2002	Formation Date	04/2002
Deregistration Date		Last account Date	31/03/2013
Nationality	France

Establishment details

Activity (APE)	· Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished products Engaged as Trader, Brokerage, Representation, Purchase and sale of Aromatic Raw Materials of all perfumery and Herbal Medicine as well as derivatives	Business Pages FT®
Postal Address	IN-LUSTRYS LA TUILIERE CHE DE LA MONTEE DES CHENES 83136 NEOULES	Trading Address	CHEMIN DE LA MONTEE DES CHENES 83136 NEOULES

Type	Head office (one site company)	Status	Economically active
Formation Date	01/2005	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	N/R
Location surface		Seasonality

Department	Var (83)	Region	Côte d'Azur
District	3	Area	20
City	NEOULES	Size of urban area	Establishment in a rural municipality

Other establishments

Branches	1 branch entities in this company
Head office	> IN-LUSTRYS <<< - Intermédiaires du commerce en matières premières agricoles, animaux vivants, matières premières textiles et produits semi-finis (4611Z) in NEOULES (83136)
Secondary establishments

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

02 (31.03.2013)

Company workforce

02 (31.03.2013)

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/03/2013	31/03/2012	31/03/2011
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	23/08/2013	28/08/2012	27/10/2011
Activity Code	4611Z	4611Z	4611Z
Employees	2	2	2

Active account

Annual Accounts	31/03/2013		31/03/2012		31/03/2011	Sector Median2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	157,218	25.5%	125,226	18.6%	105,623	14,915	954.1%
- Intangible assets	7,991	317.5%	1,914	-9.6%	2,117	0	0%
- Tangible assets	149,554	21.0%	123,639	19.0%	103,855	4,418	3285.1%
- Financial assets	822	0%	822	2.8%	800	60	1270.0%
Net current assets	1,060,052	-17.2%	1,280,088	-14.5%	1,497,778	177,541	497.1%
- Stocks	254,377	-7.7%	275,519	-56.1%	628,050	0	0%
- Advanced payments	0	-17.2%	5,000	0%	0	0	0%
- Receivables	746,747	-15.9%	887,597	9.3%	812,409	63,686	1072.5%
- Securities and cash	58,928	-47.4%	111,972	95.3%	57,319	32,946	78.9%
- Prepaid expenses	-	-	-	-	-	393	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	1,217,271	-13.4%	1,405,315	-12.4%	1,603,401	241,546	403.9%

Passive Account

Annual Accounts	31/03/2013		31/03/2012		31/03/2011	Sector Median2013
Shareholders' equity	625,177	-12.7%	715,958	6.9%	669,997	98,650	533.7%
Share capital	600,000	7400%	8,000	0%	8,000	8,000	7400%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	0	0%	0	0	0%
Liabilities	592,093	-14.1%	689,356	-26.1%	933,404	109,594	440.3%
- Financial liabilities	66,039	182.5%	23,374	108.4%	11,218	9,352	606.1%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	475,062	-21.5%	605,102	-29.1%	853,457	19,742	2306.4%
- Tax and social liabilities	50,751	3.2%	49,179	-23.3%	64,123	23,246	118.3%
- Other debts and fixed assets liabilities	241	-97.9%	11,701	154.0%	4,606	2,000	-88.0%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	1,217,270	-13.4%	1,405,314	-12.4%	1,603,401	241,546	403.9%

Results

Annual Accounts	31/03/2013		31/03/2012		31/03/2011	Sector Median2013
Sales of Goods	2,530,294	-8.8%	2,775,636	-6.8%	2,978,775	330,760	665.0%
Net turnover	2,522,231	-9.0%	2,772,925	-6.8%	2,976,270	316,479	697.0%
- of which net export turnover	746,957	-22.9%	968,348	13.5%	853,122	0	0%
Operating charges	2,535,840	-2.0%	2,587,980	-6.2%	2,760,450	295,520	758.1%
Operating profit/loss	-5,546	-103.0%	187,656	-14.0%	218,325	14,286	-138.8%
Financial income	224	-65.2%	643	-30.6%	927	54	314.8%
Financial charges	1,917	-3.2%	1,980	-78.6%	9,272	497	285.7%
Financial profit/loss	-1,693	-26.6%	-1,337	84.0%	-8,345	0	0%
Pretax net operating income	-7,239	-103.9%	186,319	-11.3%	209,980	15,049	-148.1%
Extraordinary income	8,200	105.0%	4,000	0%	0	0	0%
Extraordinary charges	45	-64.8%	128	-92.5%	1,717	35	28.6%
Extraordinary profit/loss	8,155	110.6%	3,872	325.5%	-1,717	0	0%
Net result	219	-99.8%	133,681	-7.3%	144,139	13,292	-98.4%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/03/2013	31/03/2012	31/03/2011
Months	12	12	12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			31/03/2013		31/03/2012		31/03/2011
	Grand Total (I to VI)	Net	1,217,271	-13.4%	1,405,315	-12.4%	1,603,401
	Gross	CO	1,337,685	-10.0%	1,487,014	-10.0%	1,651,584
	Amortisation	1A	120,414	47.4%	81,699	69.6%	48,183

Non declared distributed capital (I)

		31/03/2013		31/03/2012		31/03/2011
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/03/2013		31/03/2012		31/03/2011
	Total Active fixed asset (II)	Net	157,218	25.5%	125,226	18.6%	105,623
	Gross	BJ	277,632	34.2%	206,924	34.5%	153,806
	Amortisation	BK	120,414	47.4%	81,698	69.6%	48,183

Intangible fixed assets

			31/03/2013		31/03/2012		31/03/2011
	Start-up cost	Net	1,149	0%	1,149	0%	1,149
	Gross	AB	1,149	0%	1,149	0%	1,149
	Amortisation	AC	1,149	0%	1,149	0%	1,149
	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	6,842	794.4%	765	-21.0%	968
	Gross	AF	27,177	46.6%	18,533	28.4%	14,430
	Amortisation	AG	20,335	14.4%	17,768	32.0%	13,462
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	403	0%	403	0%	403
	Amortisation	AK	403	0%	403	0%	403
	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	7,991	317.5%	1,914	-9.6%	2,117

Tangible fixed assets

			31/03/2013		31/03/2012		31/03/2011
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	96,249	3.4%	93,074	20.3%	77,386
	Gross	AP	159,203	18.0%	134,900	33.8%	100,813
	Amortisation	AQ	62,954	50.5%	41,826	78.5%	23,427
	Plant	Net	0	0%	0	0%	0
	Gross	AR	0	0%	0	0%	0
	Amortisation	AS	0	0%	0	0%	0
	Other tangible fixed assets	Net	53,305	74.4%	30,565	15.5%	26,469
	Gross	AT	88,878	73.9%	51,117	41.2%	36,211
	Amortisation	AU	35,573	73.1%	20,552	111.0%	9,742
	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	149,554		123,639		103,855

Financial assets

			31/03/2013		31/03/2012		31/03/2011
	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	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	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	822	0%	822	2.8%	800
	Gross	BH	822	0%	822	2.8%	800
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		822		822		800

Current Assets (III)

			31/03/2013		31/03/2012		31/03/2011
	Total Assets	Net	1,060,052	-17.2%	1,280,088	-14.5%	1,497,778
	Gross	CJ	1,060,052	-17.2%	1,280,088	-14.5%	1,497,778
	Amortisation	CK	0	0%	0	0%	0

Stocks

			31/03/2013		31/03/2012		31/03/2011
	Raw materials	Net	3,153	0%	0	0%	0
	Gross	BL	3,153	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	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	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	251,224	-8.8%	275,519	-56.1%	628,050
	Gross	BT	251,224	-8.8%	275,519	-56.1%	628,050
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	254,377	-7.7%	275,519	-56.1%	628,050

Advance payments to suppliers

			31/03/2013		31/03/2012		31/03/2011
	Advance payments to suppliers	Net	0	0%	5,000	0%	0
	Gross	BV	0	0%	5,000	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/03/2013		31/03/2012		31/03/2011
	Trade accounts receivable	Net	671,015	-21.5%	855,022	7.2%	797,499
	Gross	BX	671,015	-21.5%	855,022	7.2%	797,499
	Amortisation	BY	0	0%	0	0%	0
	Other debtors	Net	69,295	161.9%	26,461	189.5%	9,139
	Gross	BZ	69,295	161.9%	26,461	189.5%	9,139
	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	740,310	-16.0%	881,483	9.3%	806,638

Divers

			31/03/2013		31/03/2012		31/03/2011
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	58,928	-47.4%	111,972	95.3%	57,319
	Gross	CF	58,928	-47.4%	111,972	95.3%	57,319
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	58,928	-47.4%	111,972	95.3%	57,319

Prepaid expenses

			31/03/2013		31/03/2012		31/03/2011
	Prepaid expenses	Net	6,437	5.3%	6,114	5.9%	5,771
	Gross	CH	6,437	5.3%	6,114	5.9%	5,771
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/03/2013		31/03/2012		31/03/2011
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	0	0%	0	0%	0
Gross		0	0%	0	0%	0

References

		31/03/2013		31/03/2012		31/03/2011
Due within one year	CP	822	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

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)

		31/03/2013		31/03/2012		31/03/2011
Grand Total (I to V)	EE	1,217,270	-13.4%	1,405,314	-12.4%	1,603,401

Shareholder Equity (I)

			31/03/2013		31/03/2012		31/03/2011
	Total shareholders' equity (Total I)	DL	625,177	-12.7%	715,958	6.9%	669,997
	Equity and shareholders' equity	DA	600,000	7400%	8,000	0%	8,000
	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	800	0%	800	0%	800
	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	22,442	-96.1%	571,760	10.9%	515,342
	Profit or loss for the period	DI	219	-99.8%	133,681	-7.3%	144,139
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	1,717	0%	1,717	0%	1,717

Other capital resources (II)

			31/03/2013		31/03/2012		31/03/2011
	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)

			31/03/2013		31/03/2012		31/03/2011
	Total provisions for risks and charges (Total III)	DR	0	0%	0	0%	0
	Risk provisions	DP	0	0%	0	0%	0
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/03/2013		31/03/2012		31/03/2011
	Total Liabilities (Total IV)	EC	592,093	-14.1%	689,356	-26.1%	933,404
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	53,621	289.7%	13,758	39.0%	9,895
	Sundry loans and financial liabilities	DV	12,418	29.1%	9,616	626.8%	1,323
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	475,062	-21.5%	605,102	-29.1%	853,457
	Tax and social security liabilities	DY	50,751	3.2%	49,179	-23.3%	64,123
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	241	-97.9%	11,701	154.0%	4,606

Translation loss (V)

		31/03/2013		31/03/2012		31/03/2011
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/03/2013		31/03/2012		31/03/2011
Deferred income	EB	0	0%	0	0%	0

References

		31/03/2013		31/03/2012		31/03/2011
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	561,863	-18.4%	688,217	-26.3%	933,404
Of which current bank facilities	EH	0	0%	0	0%	0

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)

		31/03/2013		31/03/2012		31/03/2011
Operating result (Total I-II)	GG	-5,546	-103.0%	187,656	-14.0%	218,325

2 -Financial result(V - VI)

		31/03/2013		31/03/2012		31/03/2011
Financial result (Total V-VI)	GV	-1,693	-26.6%	-1,337	84.0%	-8,345

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

		31/03/2013		31/03/2012		31/03/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-7,239	-103.9%	186,319	-11.3%	209,980

4 -Extraordinary result(VII-VIII)

		31/03/2013		31/03/2012		31/03/2011
Extraordinary result (Total VII-VIII)	HI	8,155	110.6%	3,872	325.5%	-1,717

Profit or loss

		31/03/2013		31/03/2012		31/03/2011
Profit or loss	HN	219	-99.8%	133,681	-7.3%	144,139

Total Income (I+III+V+VII)

		31/03/2013		31/03/2012		31/03/2011
Total Income (I+III+V+VII)	HL	2,538,718	-8.7%	2,780,279	-6.7%	2,979,702

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

		31/03/2013		31/03/2012		31/03/2011
Total charges (Total II+IV+VI+VIII+IX+X)	HM	2,538,499	-4.1%	2,646,597	-6.7%	2,835,563

Operating income(I)

		31/03/2013		31/03/2012		31/03/2011
Total operating income (Total I)	FR	2,530,294	-8.8%	2,775,636	-6.8%	2,978,775

Operating income (details)

			31/03/2013		31/03/2012		31/03/2011
	Sale of goods for resale	FC	2,505,512	-9.1%	2,757,805	-6.9%	2,961,601
	France	FA	1,770,212	-1.6%	1,799,037	-15.0%	2,115,958
	Export	FB	735,300	-23.3%	958,768	13.4%	845,643
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	16,719	10.6%	15,120	3.1%	14,669
	France	FG	5,062	-8.6%	5,540	-22.9%	7,190
	Export	FH	11,657	21.7%	9,580	28.1%	7,479
	Net turnover	FL	2,522,231	-9.0%	2,772,925	-6.8%	2,976,270
	France	FJ	1,775,274	-1.6%	1,804,577	-15.0%	2,123,148
	Export	FK	746,957	-22.9%	968,348	13.5%	853,122
	Stocked production	FM	0	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	666	-57.2%	1,555	-32.9%	2,317
	Other income	FQ	7,397	539.9%	1,156	514.9%	188

Operating charges(II)

		31/03/2013		31/03/2012		31/03/2011
Total operating charges (Total II)	GF	2,535,840	-2.0%	2,587,980	-6.2%	2,760,450

Exploitation charges

		31/03/2013		31/03/2012		31/03/2011
Purchase of goods for resale	FS	1,857,525	13.7%	1,633,694	-35.7%	2,539,344
Change in stocks of goods for resale	FT	24,296	-93.1%	352,531	207.2%	-328,702
Purchase of raw materials	FU	17,837	83.0%	9,747	0%	0
Change in stocks of raw materials	FV	-3,153	0%	0	0%	0
Other external purchases and charges	FW	260,685	-0.4%	261,632	15.1%	227,257
Tax, duty and similar payments	FX	34,987	57.3%	22,249	-7.4%	24,022
Payroll	FY	175,246	-3.8%	182,253	-1.7%	185,420
Social security costs	FZ	126,666	38.5%	91,464	9.2%	83,727

Depreciation

		31/03/2013		31/03/2012		31/03/2011
Depreciation of fixed assets	GA	41,370	23.4%	33,516	14.2%	29,356
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	0	0%	0	0%	0
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/03/2013		31/03/2012		31/03/2011
Other charges	GE	381	-57.4%	894	3338.5%	26

Operating charges (III-IV)

		31/03/2013		31/03/2012		31/03/2011
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)

			31/03/2013		31/03/2012		31/03/2011
	Total financial income (Total V)	GP	224	-65.2%	643	-30.6%	927
	Share financial income	GJ	0	0%	0	0%	0
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	03	-88.0%	25	0%	0
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	221	-64.2%	618	-33.3%	927
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/03/2013		31/03/2012		31/03/2011
	Total financial charge (Total VI)	GU	1,917	-3.2%	1,980	-78.6%	9,272
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	1,370	-23.2%	1,783	-79.0%	8,480
	Exchange losses	GS	547	177.7%	197	-75.1%	792
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

			31/03/2013		31/03/2012		31/03/2011
	Total extraordinary income (Total VII)	HD	8,200	105.0%	4,000	0%	0
	Extraordinary operating income	HA	0	0%	4,000	0%	0
	Extraordinary income from capital transactions	HB	8,200	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges(VIII)

			31/03/2013		31/03/2012		31/03/2011
	Total extraordinary charges (Total VIII)	HH	45	-64.8%	128	-92.5%	1,717
	Extraordinary operating charges	HE	45	-64.8%	128	0%	0
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	1,717

Employee profit sharing(IX)

		31/03/2013		31/03/2012		31/03/2011
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits(X)

		31/03/2013		31/03/2012		31/03/2011
Tax on profits (Total X)	HK	697	-98.8%	56,509	-11.9%	64,124

References

		31/03/2013		31/03/2012		31/03/2011
Of which equipment leases	HP	18,641	3.8%	17,963	49.6%	12,011
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	666	-57.2%	1,555	-32.9%	2,317
Of which trader's own contributions	A2	88,034	22.1%	72,106	2.4%	70,424
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%	240	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomes 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)

			31/03/2013		31/03/2012		31/03/2011
	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	2,655	0%	0	0%	1,212
	Gross value at the end of period	OL	277,632	0%	0	0%	153,806

Research and development Charge (Total I)

			31/03/2013		31/03/2012		31/03/2011
	Gross value at begin of period	CZ	1,149	0%	0	0%	1,149
	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	1,149	0%	0	0%	1,149

Other budget item from Intangible fixed assets(Total II)

			31/03/2013		31/03/2012		31/03/2011
	Gross value at begin of period	KD	18,936	0%	0	0%	14,938
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	8,644	0%	0	0%	1,106
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	1,212
	Gross value at the end of period	LW	27,580	0%	0	0%	14,832

Tangible fixed assets (Total III)

			31/03/2013		31/03/2012		31/03/2011
	Gross value at begin of period	LN	186,018	0%	0	0%	75,964
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	64,718	0%	0	0%	61,061
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	2,655	0%	0	0%	0
	Gross value at the end of period	NH	248,081	0%	0	0%	137,025

Financial assets (Total IV)

			31/03/2013		31/03/2012		31/03/2011
	Gross value at begin of period	LQ	822	0%	0	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	800
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	822	0%	0	0%	800

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

			31/03/2013		31/03/2012		31/03/2011
	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)

			31/03/2013		31/03/2012		31/03/2011
	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)

			31/03/2013		31/03/2012		31/03/2011
	Reserve for depreciation value at begin of period	PE	18,171	0%	0	0%	3,421
Increases		PF	2,567	0%	0	0%	11,656
Decreasess		PG	0	0%	0	0%	1,212
	Decreasess by budget item transfer	PH	20,738	0%	0	0%	13,865

Total fixed assets amotisation(Total III)

			31/03/2013		31/03/2012		31/03/2011
	Reserve for depreciation value at begin of period	QU	62,379	0%	0	0%	15,470
Increases		QV	38,803	0%	0	0%	17,701
Decreases		QW	2,655	0%	0	0%	0
	Decreasess by budget item transfer	QX	98,527	0%	0	0%	33,171

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/03/2013		31/03/2012		31/03/2011
	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

			31/03/2013		31/03/2012		31/03/2011
	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	1,149	0%	0	0%	1,149
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/03/2013		31/03/2012		31/03/2011
	Value at begining of period	7C	1,717	0%	1,717	0%	0
Increases		UB	0	0%	0	0%	1,717
Decreases		UC	0	0%	0	0%	0
	Value at the end of period	UD	1,717	0%	1,717	0%	1,717

Includes Total allocations

Operating	UE	0	0%	0	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	1,717

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/03/2013		31/03/2012		31/03/2011
	Value at begining of period	3Z	1,717	0%	1,717	0%	0
Increases		TS	0	0%	0	0%	1,717
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	1,717	0%	1,717	0%	1,717

Total risk and charge provisions (Total II)

			31/03/2013		31/03/2012		31/03/2011
	Value at begining of period	5Z	0	0%	0	0%	0
Increases		TV	0	0%	0	0%	0
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	0	0%	0	0%	0

Total Provision for depreciation (Total III)

			31/03/2013		31/03/2012		31/03/2011
	Value at begining of period	7B	0	0%	0	0%	0
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	0	0%	0	0%	0

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

		31/03/2013		31/03/2012		31/03/2011
Gross value	VT	747,569	-15.9%	888,419	9.2%	813,209
1 year at most	VU	747,569	-15.8%	887,597	9.3%	812,409
More than one year	VV	0	0%	822	2.8%	800

State of loans

		31/03/2013		31/03/2012		31/03/2011
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	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	822	0%	822	2.8%	800
Other financial assets (1 year at most)	UV	822	0%	0	0%	0

Receivables statement of assets

		31/03/2013		31/03/2012		31/03/2011
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	671,015	0%	0	0%	797,499
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	0	0%	0	0%	0
Social Security and other social organizations	UZ	1,667	0%	0	0%	0
Income taxes	VM	55,305	0%	0	0%	3,152
Value added tax	VB	5,403	0%	0	0%	3,045
Other taxes and payments assimilated	VN	0	0%	0	0%	0
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	6,920	-99.2%	887,597	30069.9%	2,942

Prepaid

		31/03/2013		31/03/2012		31/03/2011
Prepaid	VS	6,437	0%	0	0%	5,771

State Debt

			31/03/2013		31/03/2012		31/03/2011
	Total debt (gross)	VY	592,093	-14.1%	689,356	-26.1%	933,404
1 year at most		VZ2	561,863	-17.5%	681,292	-27.0%	933,404
More than 1 year and 5 years at most		VZ3	30,230	274.9%	8,064	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/03/2013		31/03/2012		31/03/2011
	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	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
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	53,621	289.7%	13,758	39.0%	9,895
1 year at most		VH2	23,391	310.8%	5,694	-42.5%	9,895
More than 1 year and 5 years at most		VH3	30,230	274.9%	8,064	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	9,616	0%	0
1 year at most		8A2	0	0%	9,616	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	475,062	-21.5%	605,102	-29.1%	853,457
1 year at most		8B2	475,062	-21.5%	605,102	-29.1%	853,457
More than 1 year and 5 years at most		8B3	475,062	-21.5%	605,102	-29.1%	853,457
	Personnel and associated accounts (gross)	8C1	3,871	0%	0	0%	1,901
1 year at most		8C2	3,871	0%	0	0%	1,901
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	11,759	-76.1%	49,179	13.7%	43,238
1 year at most		8D2	11,759	-76.1%	49,179	13.7%	43,238
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	29,901	0%	0	0%	18,897
1 year at most		VW2	29,901	0%	0	0%	18,897
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	5,220	0%	0	0%	87
1 year at most		VQ2	5,220	0%	0	0%	87
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	12,418	0%	0	0%	1,323
1 year at most		VI2	12,418	0%	0	0%	1,323
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	241	-97.9%	11,701	154.0%	4,606
1 year at most		8K2	241	-97.9%	11,701	154.0%	4,606
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

		31/03/2013		31/03/2012		31/03/2011
Loans made during the period	VJ	55,425	0%	0	0%	0
Debt repaid during the period	VK	14,878	0%	0	0%	8,905

Table allocation results and other information
Dividends distributed

		31/03/2013		31/03/2012		31/03/2011
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/03/2013		31/03/2012		31/03/2011
Commitments leasing furniture	YQ	27,680	1.2%	27,355	-11.4%	30,866
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/03/2013		31/03/2012		31/03/2011
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/03/2013		31/03/2012		31/03/2011
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/03/2013		31/03/2012		31/03/2011
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/03/2013		31/03/2012		31/03/2011
Average number of employees	YP	02	0%	02	0%	02

Groups and Shareholders

		31/03/2013		31/03/2012		31/03/2011
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

		31/03/2013		31/03/2012		31/03/2011	Sector Median2013
Fixed Asset Financing		2.92	-26.4%	3.97	-16.2%	4.74	2.59	12.7%
Global Debt		85days	-5.6%	90days	-20.4%	113days	110days	-22.7%
Working Capital Fund overall net		76days	-5.0%	80days	14.3%	70days	72days	5.6%
Financial independence		1163.78%	-77.6%	5195.59%	-23.1%	6759.45%	543.05%	114.3%
More ratios
Solvability		51.36%	0.8%	50.95%	21.9%	41.79%	41.90%	22.6%
Capacity debt futures		2672.72%	-78.7%	12573.90%	85.7%	6771.07%	1581.12%	69.0%
Coverage of current assets by net working capital overall		50.68%	5.1%	48.20%	24.9%	38.58%	47.93%	5.7%
General Liquidity		1.33	2.3%	1.30	49.4%	0.87	0.79	68.4%
Restricted Liquidity		1.44	-2.0%	1.47	58.1%	0.93	1.37	5.1%

Management or rotation

		31/03/2013		31/03/2012		31/03/2011	Sector Median2013
Need background in operating working capital		67days	4.7%	64days	3.2%	62days	14days	378.6%
Treasury		8days	-46.7%	15days	114.3%	7days	14.50days	-44.8%
Inventory turnover of goods		48days	-4.0%	50days	-51.0%	102days	3days	1500%
Average length of credit granted to customers		96days	-13.5%	111days	15.6%	96days	54days	77.8%
Average length of credit obtained suppliers		79days	-17.7%	96days	-23.8%	126days	42days	88.1%
More ratios
Inventory turnover of raw materials in industrial enterprises		2days	0%	0days	0%	0days	0days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	1280.50days	-
Rotation tangible assets		1016.70%	-	%	-	2172.06%	1201.55%	-15.4%

Profitability of the business

		31/03/2013		31/03/2012		31/03/2011	Sector Median2013
Margin trading		24.73%	-11.1%	27.83%	10.3%	25.23	0.83%	2879.5%
Profitability of the business		1.12	-85.8%	7.91	-4.0%	8.24	4.57%	-75.5%
Net profit		0.01%	-99.8%	4.82%	-0.4%	4.84%	3.35%	-99.7%
More ratios
Growth rate of turnover (excluding VAT)		-9.04%	-32.4%	-6.83%	-135.9%	19%	2.53%	-457.3%
Rates integration		14.47%	-22.1%	18.58%	2.7%	18.09%	21.43%	-32.5%
Rate leasing furniture		0.74%	13.8%	0.65%	62.5%	0.40%	0%	0%
Work Factor		58.59%	49.8%	39.12%	6.0%	36.91%	48.83%	20.0%
Weight interests		0.08	14.3%	0.07%	-77.4%	0.31%	0.09%	-11.1%

Return on capital

		31/03/2013		31/03/2012		31/03/2011	Sector Median2013
Cash flow from the overall profitability		1.32%	-78.1%	6.03%	2.4%	5.89%	5.05%	-73.9%
Rates of economic profitability		4%	-86.7%	30%	-16.7%	36%	18%	-77.8%
Financial profitability		625177%	-12.7%	715958%	6.9%	669997%	53041%	1078.7%
Return on investment		0.31%	-98.3%	18.35%	-18.5%	22.52%	12.75%	-97.6%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/03/2013		31/03/2012		31/03/2011	Sector Median2013
Turnover	2,522,231	-9.0%	2,772,925	-6.8%	2,976,270	316,479 €	697.0%

Sales of goods	2,505,512	-9.1%	2,757,805	-6.9%	2,961,601
- Purchase of goods	1,857,525	13.7%	1,633,694	-35.7%	2,539,344
+/- Stock of goods variation	24,296	-93.1%	352,531	207.2%	-328,702
Trading margin	623,691 €	-19.2%	771,580 €	2.7%	750,959 €	2,879 €	21563.5%
	24.73 % CA	-11.1%	27.83 % CA	10.3%	25.23 % CA	2.47 % CA	901.2%

Sale of goods produced	16,719	10.6%	15,120	3.1%	14,669
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	16,719 €	10.6%	15,120 €	3.1%	14,669 €	72,845 €	-77.0%
	0.66 % CA	20.0%	0.55 % CA	12.2%	0.49 % CA	78.29 % CA	-99.2%

Trading margin	623,691	-19.2%	771,580	2.7%	750,959	2,879	21563.5%
+ Period Production	16,719	10.6%	15,120	3.1%	14,669	72,845	-77.0%
- Purchase of raw materials	17,837	83.0%	9,747	0%	0
+/- Change in stocks of raw materiels	-3,153	0%	0	0%	0
- Other external purchases and charges	260,685	-0.4%	261,632	15.1%	227,257
Added value	365,041 €	-29.2%	515,321 €	-4.3%	538,371 €	74,236 €	391.7%
	14.47 % CA	-22.1%	18.58 % CA	2.7%	18.09 % CA	21.43 % CA	-32.5%

Added value	365,041 €	-29.2%	515,321 €	-4.3%	538,371 €	74,236 €	391.7%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	34,987	57.3%	22,249	-7.4%	24,022
- Personal charges	301,912	10.3%	273,717	1.7%	269,147
Gross operating surplus	28,142 €	-87.2%	219,355 €	-10.5%	245,202 €	22,224 €	26.6%
	1.12 % CA	-85.8%	7.91 % CA	-4.0%	8.24 % CA	4.57 % CA	-75.5%

Gross operating surplus	28,142 €	-87.2%	219,355 €	-10.5%	245,202 €	22,224 €	26.6%
+ Release of reserves and provisions	666	-57.2%	1,555	-32.9%	2,317
+ Other operating income	7,397	539.9%	1,156	514.9%	188
- Depreciation/Amortisation	41,370	23.4%	33,516	14.2%	29,356
- Other charges	381	-57.4%	894	3338.5%	26
Operating result	-5,546 €	-103.0%	187,656 €	-14.0%	218,325 €	14,286 €	-138.8%
	-0.22 % CA	-103.2%	6.77 % CA	-7.8%	7.34 % CA	3.24 % CA	-106.8%

Operating result	-5,546 €	-103.0%	187,656 €	-14.0%	218,325 €	14,286 €	-138.8%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	224	-65.2%	643	-30.6%	927
- Financial charges	1,917	-3.2%	1,980	-78.6%	9,272
Pre-tax result	-7,239 €	-103.9%	186,319 €	-11.3%	209,980 €	15,050 €	-148.1%
	-0.29 % CA	-104.3%	6.72 % CA	-4.8%	7.06 % CA	3.69 % CA	-107.9%

Extraordinary income	8,200	105.0%	4,000	0%	0	0	0%
- Extraordinary charges	45	-64.8%	128	-92.5%	1,717
Extraordinary result	8,155 €	110.6%	3,872 €	325.5%	-1,717 €	0 €	0%
	0.32 % CA	128.6%	0.14 % CA	333.3%	0 % CA	0 % CA	0%

Pre-tax result	-7,239 €	-103.9%	186,319 €	-11.3%	209,980 €	15,050 €	-148.1%
Extraordinary result	8,155 €	110.6%	3,872 €	325.5%	-1,717 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	697	-98.8%	56,509	-11.9%	64,124
Net result	219 €	-99.8%	133,682 €	-7.3%	144,139 €	13,292 €	-98.4%
	0.01 % CA	-99.8%	4.82 % CA	-0.4%	4.84 % CA	3.36 % CA	-99.7%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Status of collection

This company is not under monitoring

Group data

This company is not identified as one of the biggest french chip.

Group Structure

No group information available for the company

Linkages

This company is not identified as one of the biggest french chip.

No Linkages information available for the company

Recent publications in Gazettes

Publication date	Gazette Name	Description
30/08/2013	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE DRAGUIGNAN 13966 - 441879194 RCS. IN LUSTRYS. Forme : Société à responsabilité limitée. Adresse : chemin de la Montée des Chênes la Tuilière 83136 Néoules. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2013.
28/05/2013	Bodacc B	Modification et mutation diverse
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE DRAGUIGNAN 3058 - 441 879 194 RCS Draguignan. IN LUSTRYS. Forme : Société à responsabilité limitée. Capital : 600000 EUR. Activité : . Commentaires : Modification survenue sur le capital.
03/05/2013	JAL	Modification of the share capital
Var Information Date de décision : 31/03/2013 La société : 441879194 - IN-LUSTRYS, CHE DE LA MONTEE DES CHENES, LA TUILIERE, 83136 NEOULES a subi une augmentation de son capital social désormais de 600 000 € Date d'effet : 31/03/2013
30/08/2012	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE DRAGUIGNAN 11334 - 441879194 RCS. IN LUSTRYS. Forme : Société à responsabilité limitée. Adresse : chemin de la Montée des Chênes la Tuilière 83136 Néoules. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2012.
07/11/2011	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE DRAGUIGNAN 13752 - 441879194 RCS. IN LUSTRYS. Forme : Société à responsabilité limitée. Adresse : chemin de la Montée des Chênes la Tuilière 83136 Néoules. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2011.
15/11/2010	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE DRAGUIGNAN 9533 - 441879194 RCS. IN LUSTRYS. Forme : Société à responsabilité limitée. Adresse : chemin de la Montée des Chênes la Tuilière 83136 Néoules. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2010.
27/08/2009	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE DRAGUIGNAN 9081 - 441879194 RCS. IN LUSTRYS. Forme : Société à responsabilité limitée. Adresse : chemin de la Montée des Chênes la Tuilière 83136 Néoules. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2009.
30/09/2008	Bodacc C	Comptes annuels et rapports
83 - VAR GREFFE DU TRIBUNAL DE COMMERCE DE BRIGNOLES 7158 - 441879194 RCS. IN LUSTRYS. Forme : Société à responsabilité limitée. Adresse : chemin de la Montée des Chênes la Tuilière, 83136 Néoules. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2008.
15/12/2007	Bodacc C	Avis de dépôt des comptes
8151 - 441 879 194. RCS Brignoles IN LUSTRYS. Forme: Société à responsabilité limitée. Adresse du siège social: chemin de la Montée des Chênes la Tuilière, 83136 Néoules. Comptes annuels et rapports de l'exercice clos le: 31 mars 2007.
28/08/2007	Bodacc B	Modifications et mutations diverses
1306 - RCS Brignoles B 441 879 194. RC 04-B 382. IN LUSTRYS. Forme : S.A.R.L. Nom commercial : In Lustrys. Adresse du siège social : chemin de la Montée-des-Chênes, La Tuilière,, 83136 Commentaires : modification survenue sur l'administration. Administration : cogérants : DUPUIS (Christophe) (Nom d'usage : DUPUIS) FARISSI (Khadija) (Nom d'usage : DUPUIS). Date d'effet : 23 mars 2007.
24/11/2006	Bodacc C	Avis de dépôt des comptes
9103 - RCS Brignolles B 441 879 194. RC 04-B 382. IN LUSTRYS. Forme: S.A.R.L.. Adresse du siège social: chemin de la Montee des Chenes,la Tuiliere, 83136 Neoules. Comptes annuels et rapports de l'exercice clos le: 31 mars 2006.
08/08/2006	Bodacc C	Avis de dépôt des comptes
4860 - RCS Brignolles B 441 879 194. RC 04-B 382. IN LUSTRYS. Forme: S.A.R.L.. Adresse du siège social: chemin de la Montee des Chenes,la Tuiliere, 83136 Neoules. Comptes annuels et rapports de l'exercice clos le: 31 mars 2005.
13/07/2005	Bodacc B	Modifications et mutations diverses
2222 - RCS Brignoles B 441 879 194. RC 04-B 382. IN LUSTRYS. Forme : S.A.R.L. Nom commercial : In Lustrys. Activité : courtage, représentation en matières premières aromatiques à titre sédentaire et ambulant, négoce, achat, vente de matières premières aromatiques, de tous produits de parfumerie, d'herboristerie, de leurs produits dérivés et toutes opérations s'y rattachant . Adresse du siège social : chemin de la Montée-des-Chênes, La Tuilière,, 83136 Commentaires : modification survenue sur l'activité (adjonction). Une partie de l'activité devient à titre ambulant. Date d'effet : 14 juin 2005.
19/03/2005	Bodacc C	Avis de dépôt des comptes
363 - RCS Grasse B 441 879 194. RC 02-B 279. IN LUSTRYS. Forme: S.A.R.L.. Adresse du siège social: Garbejaire bâtiment E4 2, chemin de la Peyriere,Sophia Antipolis, 06560 Valbonne. Comptes annuels et rapports de l'exercice clos le: 31 mars 2004.
23/01/2005	Bodacc B	Modifications et mutations diverses
2875 - RCS B 441 879 194. RC 04-B 382. IN LUSTRYS. Forme : S.A.R.L. Capital : 8 000 euros. Nom commercial : In Lustrys. Adresse du siège social : chemin de la Montée-des-Chênes, La Tuilière, 83136 Néoules. Administration : gérant : DUPUIS (Christophe) (Nom d'usage : DUPUIS). Etablissement principal - Activité : courtage et représentation en matières premières aromatiques négoce, achat, vente de matières premières aromatiques, de tous produits de parfumerie et d'herboristerie, ainsi que de leurs produits dérivés. Toutes opérations s'y rattachant . Adresse : chemin de la Montée-des-Chênes, La Tuilière, 83136 Néoules. Commentaires : immatriculation d'une personne morale suite au transfert du siège hors ressort du greffe du tribunal de commerce de Grasse. Date d'effet : 1er janvier 2005.
11/01/2005	Bodacc B	Radiation
144 - RCS Grasse B 441 879 194. RC 02-B 279. IN LUSTRYS. Forme : S.A.R.L. Nom commercial : In Lustrys. Adresse du siège social : Garbejaire, bâtiment E4, 2 chemin de la Peyrière, Sophia-Antipolis, 06560 Valbonne. Date de radiation : 29 décembre 2004.
07/06/2002	Bodacc A	Création d'établissement
RCS Grasse B 441879194 RC 02-B 279 IN LUSTRYS. Forme : S.A.R.L. Capital : 8 000 euros Nom commercial: In Lustrys. Activité : négoce, courtage, représentation, achat et vente de matières premières aromatiques, de tous produits de parfumerie et d' herboristerie ainsi que de produits dérivés. Toutes opérations s'y rattachant. Adresse du siège social : Sophia Antipolis, Garbejaire, batiment E4, 2 chemin de la Peyrière, 06560 Valbonne. Administration : gérant : DUPUIS (Christophe) Cette société se constitue Date de début d'activité: 15 april 2002.

Company events history

Date	Description
07/06/2014	Update Rating
22/10/2013	Update Rating
22/10/2013	Update Limit
16/10/2013	Update Rating
16/10/2013	Update Limit
30/08/2013	Bodacc C : Deposit accounts notice
24/08/2013	Update Rating
24/08/2013	Update Limit
24/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
03/08/2013	Update Rating
28/05/2013	Bodacc B: Various editing or changing
10/05/2013	Minutes of general meeting of shareholders
10/05/2013	Capital increase
10/05/2013	Updated articles of association
31/03/2013	New accounts available
31/03/2013	Other modification of Establishment
31/03/2013	Update of Company Workforce
31/03/2013	Legal Gazette: Modification of the share capital
30/08/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
30/08/2012	Bodacc C : Deposit accounts notice
12/04/2012	Sale of shares
12/04/2012	Private document
12/04/2012	Minutes of general meeting of shareholders
12/04/2012	Updated articles of association
31/03/2012	New accounts available
07/11/2011	Bodacc C : Deposit accounts notice
29/10/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/08/2011	Amendment
31/08/2011	Updated articles of association
01/07/2011	New shareholders detected
01/07/2011	New parent detected
31/03/2011	New accounts available
15/11/2010	Bodacc C : Deposit accounts notice
25/06/2010	Minutes of general meeting of shareholders
25/06/2010	Private document
25/06/2010	Sale of shares
25/06/2010	Updated articles of association
31/03/2010	New accounts available
27/08/2009	Bodacc C : Deposit accounts notice
03/07/2009	Updated articles of association
03/07/2009	Statuts mis à jour
03/07/2009	Sale of shares
03/07/2009	Cession de parts
03/07/2009	Minutes of general meeting of shareholders
03/07/2009	PV d'Assemblée
03/07/2009	Private document
31/03/2009	New accounts available
27/02/2009	Private document
27/02/2009	Updated articles of association
27/02/2009	Statuts mis à jour
27/02/2009	Minutes of general meeting of shareholders
27/02/2009	PV d'Assemblée
27/02/2009	Sale of shares
27/02/2009	Cession de parts
30/09/2008	Bodacc C : Deposit accounts notice
31/03/2008	New accounts available
16/07/2007	Private document
16/07/2007	Minutes of general meeting of shareholders
16/07/2007	PV d'Assemblée
16/07/2007	Nomination/démission des organes de gestion
16/07/2007	Appointment/resignation of company officers
31/03/2007	New accounts available
31/03/2006	New accounts available
31/03/2005	New accounts available
01/01/2005	Updated articles of association
01/01/2005	Statuts mis à jour
01/01/2005	PV d'Assemblée
01/01/2005	Minutes of general meeting of shareholders
01/01/2005	Private document
01/01/2005	Acte sous seing privé
01/01/2005	Registration after transfer
01/01/2005	Immatriculation suite à transfert
27/12/2004	PV d'Assemblée
27/12/2004	Statuts mis à jour
27/12/2004	Acte modificatif
31/03/2004	New accounts available
31/03/2003	New accounts available
24/05/2002	Formation de Société
24/05/2002	Acte sous seing privé
24/05/2002	Certificat de dépôt des fonds
24/05/2002	Nomination/démission des organes de gestion
24/05/2002	Statuts
24/05/2002	PV d'Assemblée

Establishment events history

Date	Description
09/02/2014	Update Rating
24/08/2013	Update Limit
24/08/2013	Update Rating
08/07/2013	Update Rating
04/05/2013	Update Rating
06/04/2013	Update Rating
31/03/2013	Modification of Head office
31/03/2013	Update of Establishment Workforce
02/02/2013	Update Rating
12/01/2013	Update of phone numbers
03/11/2012	Update Rating
30/08/2012	Update Limit
07/07/2012	Update Rating
18/05/2012	Update of phone numbers
29/10/2011	Update Limit
29/10/2011	Update Rating
08/08/2011	Update Rating
27/10/2010	Update Rating
27/10/2010	Update Limit
27/02/2010	Update of phone numbers
30/12/2009	Update Rating
19/08/2009	Update Limit
04/04/2009	Update Rating
22/10/2008	Update of phone numbers
19/09/2008	Update Limit
16/12/2007	Update Limit
10/12/2007	Update Limit
07/12/2007	Update Limit
28/08/2007	Update Rating

directors

Name	M. DUPUIS CHRISTOPHE
Manager position	Manager	Date of birth	30/04/1968
Place of birth	NEUILLY SUR SEINE (92)
Type	Individual	Name at birth

Name	Mme. FARISSI KHADIJA
Manager position	Manager	Date of birth	03/02/1962
Place of birth	CASABLANCA(MAROC)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Manager	M CHRISTOPHE DUPUIS	4/30/1962 - NEUILLY SUR SEINE
Manager	MME KHADIJA DUPUIS	2/3/1967 - CASABLANCA MAROC
Co-managing partner	M CHRISTOPHE DUPUIS	- - -
Co-managing partner	M CHRISTOPHE DUPUIS	4/30/1968 - NEUILLY SUR SEINE (92)
Co-managing partner	KHADIJA DUPUIS	2/3/1962 - CASABLANCA(MAROC)
Co-managing partner	MME KHADIJA DUPUIS	2/3/1967 - CASABLANCA MAROC
Co-managing partner	Mme KHADIJA FARISSI	2/3/1962 - CASABLANCA(MAROC)
Manager	M CHRISTOPHE DUPUIS	4/30/1968 - NEUILLY SUR SEINE (92)

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.85
UK Pound	1	Rs.102.69
Euro	1	Rs.81.46

INFORMATION DETAILS

Analysis Done by :	RAS
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%)

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