MIRA INFORM REPORT

Report Date :

14.03.2014

IDENTIFICATION DETAILS

Name :	01DB - METRAVIB
Registered Office :	200, Allee Des Ormeaux, Limonest, 69760
Country :	France
Financials (as on) :	31.03.2013
Date of Incorporation :	15.12.1996
Com. Reg. No.:	409869708
Legal Form :	Private Independent Company
Line of Business :	· engaged in other financial intermediation primarily concerned with distributing funds other than by making loans Drywall and Insulation Contractors
No. of Employees	255

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 – december 01, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
France	A1	A1

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 name & address

01Db - Metravib

200, Allee Des Ormeaux

Limonest, 69760

France

Tel: +33 04 72 52 48 00

Fax: +33 04 72 52 47 47

Web: www.01db.com

Synthesis

Employees: 255

Company Type: Private Independent

Incorporation Date: 15-Dec-1996

Financials in: USD (Millions)

Fiscal Year End: 31-Mar-2013

Reporting Currency: Euro

Annual Sales: 47.7

Total Assets: 34.5

Business Description

01Db - Metravib is primarily engaged in other financial intermediation primarily concerned with distributing funds other than by making loans.

Industry

Industry Miscellaneous Professional Services

ANZSIC 2006: 6999 - Other Professional, Scientific and Technical Services Not Elsewhere Classified

ISIC Rev 4: 8299 - Other business support service activities n.e.c.

NACE Rev 2: 8299 - Other business support service activities n.e.c.

NAICS 2012: 561990 - All Other Support Services

UK SIC 2007: 8299 - Other business support service activities n.e.c.

US SIC 1987: 8742 - Management Consulting Services

Key Executives

Name Title

Catherine Bacconnier director

Michele Balmet director

Pascal Dupuy Commercial director, Marketing director

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7769278

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7802157

Corporate Overview

Location

200, Allee Des Ormeaux

Limonest, 69760

France

Tel: +33 04 72 52 48 00

Fax: +33 04 72 52 47 47

Web: www.01db.com

Sales EUR(mil): 37.0

Assets EUR(mil): 26.9

Employees: 255

Fiscal Year End: 31-Mar-2013

Industry: Business Services

Incorporation Date: 15-Dec-1996

Company Type: Private Independent

Quoted Status: Not Quoted

Registered No.(FRA): 409869708

Director: Catherine Bacconnier

Industry Codes

ANZSIC 2006 Codes:

6999 - Other Professional, Scientific and Technical Services Not Elsewhere Classified

ISIC Rev 4 Codes:

8299 - Other business support service activities n.e.c.

NACE Rev 2 Codes:

8299 - Other business support service activities n.e.c.

NAICS 2012 Codes:

561990 - All Other Support Services

US SIC 1987:

8742 - Management Consulting Services

UK SIC 2007:

8299 - Other business support service activities n.e.c.

Business Description

01Db - Metravib is primarily engaged in other financial intermediation primarily concerned with distributing funds other than by making loans.

More Business Descriptions

Drywall and Insulation Contractors

Financial Data

Financials in:	EUR(mil)
Revenue:	37.0
Assets:	26.9
Current Assets:	22.0
Total Liabilities:	26.9
Issued Capital:	7.3
Net Worth:	11.9
Date of Financial Data:	31-Mar-2013

1 Year Growth

-3.2%

NA

Top

Subsidiaries

Company	Percentage Owned	Country
01 Db Acoustics & Vibration Gmbh		Germany
Zero Um Db Brasil Comércio De Equipamentos Ltda.		Brazil

Top

Key Corporate Relationships

Bank:

Natixis Banque, Bnp Paribas, Banque Sanpoalo

executive report

Name	Title	Function
Catherine Bacconnier	Director	Senior Management (General)
Michele Balmet	Director	Senior Management (General)
Pascal Dupuy	Commercial director, Marketing director	Marketing Executive

Annual Profit & Loss

	31-Mar-2013	31-Dec-2011	31-Dec-2010
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate (Period Average)	0.776928	0.71919	0.755078
Consolidated	No	No	No
Total income	49.1	55.7	47.7
Net sales	47.7	53.2	46.4
Change in stock	0.5	-2.6	0.8
Unfinished work in progress	-0.7	0.4	-1.3
Own work capitalised	0.3	0.1	0.3
Subsidies for operating costs	0.0	0.3	0.5
Supplementary operating income	0.9	1.1	1.1
Other operating income	0.9	0.7	0.7
Other external charges	12.0	14.0	12.9
Cost of goods sold	8.7	13.8	7.2
Taxes and social security costs	0.9	1.4	1.3
Social charges	7.8	9.0	7.9
Total payroll costs	15.1	16.9	15.5
Cost of stock depreciation and amortisation	1.0	1.2	0.5
Fixed asset depreciation and amortisation	0.7	0.7	0.6
Other operating costs	0.2	0.2	0.0
Total operating costs	46.9	54.6	46.7
Net operating income	2.2	1.1	1.0
Total financial income	0.1	4.3	1.0
Interest payable on loans	0.0	6.0	0.8
Other expenses	0.3	0.4	3.0
Total expenses	0.3	6.3	3.9
Profit before tax	2.1	-0.9	-1.9
Extraordinary income	0.2	1.2	0.1
Extraordinary expenses	0.3	1.3	0.0
Extraordinary result	-0.1	-0.1	0.0
Total taxation	-1.4	-1.4	-1.5
Net profit	3.3	0.4	-
Net loss	-	-	0.4

Annual Balance Sheet

Financials in: USD (mil)

	31-Mar-2013	31-Dec-2011	31-Dec-2010
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.780216	0.770327	0.745406
Consolidated	No	No	No
Issued capital	9.4	9.5	9.8
Share premium account	1.6	1.6	1.6
Other reserves	0.1	0.3	1.3
Total reserves	0.4	4.4	4.5
Profits for the year	3.3	0.4	-0.4
Profit brought forward from previous year(s)	0.0	-0.4	-
Capital subsidies and grants	0.4	-	-
Total stockholders equity	15.2	15.8	16.9
Provisions and allowances	2.9	2.8	6.1
Trade creditors	4.4	9.3	5.4
Advances received	0.1	0.3	0.4
Bank loans and overdrafts	0.0	3.9	0.4
Other loans	0.2	-	-
Other liabilities	0.6	0.3	0.6
Income stated in advance	3.1	1.9	1.3
Taxation and social security	7.9	8.5	7.4
Total current liabilities	16.3	24.0	15.1
Total debts	16.4	24.3	15.5
Regularisation account	0.0	0.0	-
Total liabilities (including net worth)	34.5	42.9	38.6
Patents	0.5	0.2	0.2
Goodwill	2.1	2.1	2.2
Land	0.1	0.1	0.1
Buildings	1.3	0.3	0.4
Other fixed assets	1.1	0.9	1.0
Other financial assets	1.3	2.3	2.9
Total non-current assets	6.3	5.9	6.8
Prepayments	0.1	0.1	0.1
Net stocks and work in progress	6.5	8.6	6.3
Trade debtors	18.2	22.1	17.0
Other receivables	2.6	2.2	8.0
Prepaid expenses	0.7	0.5	0.4
Cash and liquid assets	0.2	3.6	0.0
Total current assets	28.2	37.0	31.8
Prepaid expenses and deferred costs	0.0	0.0	0.0
Total assets	34.5	42.9	38.6

Annual Ratios

Financials in: USD (mil)

	31-Mar-2013	31-Dec-2011	31-Dec-2010
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.780216	0.770327	0.745406
Consolidated	No	No	No
Current ratio	1.70	1.50	2.10
Quick ratio	1.30	1.20	1.70
Total liabilities to net worth	1.30%	1.82%	1.07%
Net worth to total assets	0.36%	0.31%	0.38%
Collection period	116.40	135.00	110.00
Stock turnover rate	7.40	5.80	7.50
Asset turnover	1.38%	1.16%	1.22%
Profit margin	0.04%	-0.02%	-0.04%
Return on assets	0.06%	-0.02%	-0.05%
Shareholders' return	0.16%	-0.06%	-0.13%
Sales per employee	952.51	-	854.56
Profit per employee	41.01	-	-34.34
Average wage per employee	301.97	-	285.09
Net worth	15.2	15.8	16.9
Number of employees	255	-	269

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.02
UK Pound	1	Rs.101.65
Euro	1	Rs.85.02

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%

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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.