MIRA INFORM REPORT

 

Report Date :

24.12.2011

 

IDENTIFICATION DETAILS

 

Name :

MARMARA METAL MAMULLERI TICARET A.S.

 

 

Formerly Known As :

MARMARA METAL MAMULLERI TICARET LTD. STI.

 

 

Registered Office :

Istasyon Mah. E-5 Ustu Fatih Otagi Sok. Ernak Garaj Yani Tuzla Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

02.01.1995

 

 

Com. Reg. No.:

15204-8

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Mining, manufacture and trade of cast raw materials, ferrous and non ferrous materials, hematite pig iron, nodular pig iron, refractory, recarburizers, petroleum cokes and other alloy materials. 

 

 

No. of Employees :

81

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

11.600.000 USD

Status :

Satisfactory

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Turkey

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY IDENTIFICATION

 

NAME

:

MARMARA METAL MAMULLERI TICARET A.S.

HEAD OFFICE ADDRESS

:

Istasyon Mah. E-5 Ustu Fatih Otagi Sok. Ernak Garaj Yani Tuzla Istanbul / Turkey

PHONE NUMBER

:

90-216-447 29 55

 

FAX NUMBER

:

90-216-447 29 69 66

 

WEB-ADDRESS

:

www.marmarametal.com

E-MAIL

:

marmara@marmarametal.com

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Buyuk Mukellefler 

TAX NO

:

6120568270

REGISTRATION NUMBER

:

15204-8

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

02.01.1995

ESTABLISHMENT GAZETTE DATE/NO

:

09.01.1995/3699

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   54.750.000

PAID-IN CAPITAL

:

TL   54.750.000

 

HISTORY

:

Previous Legal Type

:

Limited Company

Changed On

:

04.06.2008 (Commercial Gazette Date /Number 10.06.2008/ 7080)

Previous Name

:

Marmara Metal Mamulleri Ticaret Ltd. Sti.

Changed On

:

04.06.2008 (Commercial Gazette Date /Number 10.06.2008/ 7080)

Previous Registered Capital

:

TL 20.000.000

Changed On

:

02.12.2008 (Commercial Gazette Date /Number 05.12.2008/ 7204)

Previous Registered Capital

:

TL 50.000.000

Changed On

:

28.05.2010 (Commercial Gazette Date /Number 03.06.2010/ 7577)

Previous Address

:

Turgut Reis Mah. Fatih Cad. Asalet Sok. No:4-6 Sultanbeyli / Istanbul

Changed On

:

13.06.2006 (Commercial Gazette Date /Number 19.06.2006/ 6580)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Huseyin Oner

59 %

Hasan Oner

20 %

Mehmet Ali Oner

10 %

Nihat Oner

10 %

Emine Oner

1 %

 

 

SISTER COMPANIES

:

ANALIZ KIMYA SANAYI VE DIS TICARET LTD. STI.

 

ATACELIK YAPI URETIM A.S.

 

EBRU TEKSTIL CELIK SANAYI VE TICARET A.S.

 

EBRU TEKSTIL NAKIS SANAYI VE TICARET LTD. STI.

 

EBRU TRIKO SANAYI VE TICARET A.S.

 

MAR TAS TRAVERTEN MERMER INSAAT SANAYI VE TICARET LTD. STI.

 

MARMARA MINERAL METAL DIS TICARET LTD. STI.

 

ZRG ENERJI VE DIS TICARET LTD. STI.

 

SUBSIDIARIES

:

ANALIZ KIMYA SANAYI VE DIS TICARET LTD. STI.  ( 25 % )

 

MARMARA MINERAL METAL DIS TICARET LTD. STI.  ( 25 % )

 

 

BOARD OF DIRECTORS

:

Huseyin Oner

Chairman

Nihat Oner

Vice-Chairman

Emine Oner

Member

 

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Mining, manufacture and trade of cast raw materials, ferrous and non ferrous materials, hematite pig iron, nodular pig iron, refractory, recarburizers, petroleum cokes and other alloy materials. 

 

NACE CODE

:

DJ.27.10

 

REPRESENTATIVE OF

:

Eastlink   (U.K.)

Eramet   (France)

Snam Alloys   (India)

 

NUMBER OF EMPLOYEES

:

81

 

NET SALES

:

9.806.512 TL

(2001) 

24.482.905 TL

(2002) 

42.508.126 TL

(2003) 

82.595.412 TL

(2004) 

95.254.891 TL

(2005) 

144.876.346 TL

(2006) 

239.943 TL Thousand

(2007) 

275.357 TL Thousand

(2008) 

180.157 TL Thousand

(2009) 

326.791.065 TL

(2010) 

445.088.977 TL

(01.01-30.09.2011) 

 

 

CAPACITY

:

  ( kgs/yr)

 

 

 

2.765.000

 

 

(2008)

 

 

 

 

PRODUCTION

:

  ( kgs )

 

 

 

2.094.134

 

 

(2005)

2.057.684

 

 

(2006)

1.950.000

 

 

(2007)

2.224.000

 

 

(2008)

 

 

 

 

 

IMPORT VALUE

:

43.202.493 USD

(2004)

59.895.148 USD

(2005)

72.800.506 USD

(2006)

142.475.982 USD

(2007)

157.361.751 USD + 587.163 EUR

(2008)

63.314.504 USD + 1.237.440 EUR

(01.01-30.09.2009)

 

 

IMPORT COUNTRIES

:

Russia

India

China

U.S.A.

Iran

Brazil

Netherlands

Ukraine

 

MERCHANDISE IMPORTED

:

Carbon granules

Coal

Metalic silica

Nickel

Pig iron

Resin

 

EXPORT VALUE

:

414.711 TL

(2003)

3.388.505 TL

(2004)

9.052.621 TL

(2005)

6.456.122 TL

(2006)

29.456.285 TL

(2007)

43.310.080 TL

(2008)

29.065.151 TL

(2009)

45.886.450 TL

(2010)

48.399.659 TL

(01.01-30.09.2011)

 

 

EXPORT COUNTRIES

:

China

Jordan

Syria

Pakistan

Brazil

Germany

Belgium

Greece

Iran

Egypt

India

Senegal

Malaysia

Tunisia

Ukraine

Saudi Arabia

 

MERCHANDISE  EXPORTED

:

Chromium ore

Ferro-alloys

Manganese ore

 

HEAD OFFICE ADDRESS

:

Istasyon Mah. E-5 Ustu Fatih Otagi Sok. Ernak Garaj Yani Tuzla  Istanbul / Turkey ( owned )

 

BRANCHES

:

Warehouse  :  Doganlar Mah. 1500/1 Sokak No:14 Bornova Izmir/Turkey (owned) (6.000 sqm)

 

Warehouse  :  Dokumculer Sitesi 10. Sok. No: 135 Sincan Ankara/Turkey (rented) (1.500 sqm)

 

Warehouse  :  Fevzi Cakmak Mah. Efe Diyari Sok. No: 1 Karatay Konya/Turkey (rented) (2.000 sqm)

 

Processing Plant  :  Basbuyuk Koyu Pafta No: 58I38A3 Sivas/Turkey

 

Head Office/Production Plant  :  Istasyon Mah. E-5 Ustu Fatih Otagi Sok. Ernak Garaj Yani Tuzla Istanbul/Turkey (owned) (94.000 sqm)

                                                                                

INVESTMENTS

:

None

 

TREND OF BUSINESS

:

There was an upwards trend in  2010. There appears an upwards trend in  1.1 - 30.9.2011.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Pendik Branch

Halk Bankasi Dolayoba Branch

T. Is Bankasi Gebze Kurumsal Branch

Yapi ve Kredi Bankasi Pendik E-5 Branch

 

CREDIT FACILITIES

:

The subject company is making active use of credit facilities.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

KEY FINANCIAL ELEMENTS

:

 

(2007) TL Thousand

(2008) TL Thousand

(2009) TL Thousand

(2010) TL

(01.01-30.09.2011) TL

Net Sales

239.943

275.357

180.157

326.791.065

445.088.977

Profit (Loss) Before Tax

5.797

5.262

5.882

8.596.282

4.277.389

Stockholders' Equity

29.457

63.137

72.544

79.325.158

 

Total Assets

118.737

157.549

242.247

362.470.129

 

Current Assets

75.802

108.454

177.353

294.180.539

 

Non-Current Assets

42.935

49.095

64.894

68.289.590

 

Current Liabilities

39.741

41.691

61.035

113.259.585

 

Long-Term Liabilities

49.539

52.721

108.668

169.885.386

 

Gross Profit (loss)

14.706

14.790

11.926

24.479.179

24.381.305

Operating Profit (loss)

8.305

7.159

4.664

14.548.615

11.149.092

Net Profit (loss)

4.707

4.174

4.680

6.780.477

3.076.278

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Insufficient As of 31.12.2010

Liquidity

High As of 31.12.2010

Remarks On Liquidity

The unfavorable gap between average collection and average payable period has an adverse effect on liquidity.

Profitability

Fair Operating Profitability  in 2007

Fair Net Profitability  in 2007

Fair Operating Profitability  in 2008

Fair Net Profitability  in 2008

Fair Operating Profitability  in 2009

In Order Net Profitability  in 2009

In Order Operating Profitability  in 2010

Fair Net Profitability  in 2010

Fair Operating Profitability (01.01-30.09.2011)

Low Net Profitability (01.01-30.09.2011)

 

Gap between average collection and payable periods

Unfavorable in 2010

General Financial Position

Passable

 

 

CREDIT OPINION WITHOUT OBLIGATION

 

CREDIT LIMIT

 

:

11.600.000 USD

CREDIT OPINION WITHOUT OBLIGATION

 

:

We are of the opinion that, a max. credit of 11.600.000 USD may be granted to the subject company.

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2001 )

88,60 %

1,1991

1,0714

1,7300

 ( 2002 )

30,80 %

1,5168

1,3741

2,2001

 ( 2003 )

13,90 %

1,5302

1,7141

2,4982

 ( 2004 )

13,84 %

1,4266

1,7666

2,6001

 ( 2005 )

2,66 %

1,3499

1,6882

2,4623

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 01.01-30.09.2009)

3,60 %

1,5624

2,1386

2,3953

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-30.09.2011)

9,72 %

1,6335

2,3016

2,6294

 ( 01.01-30.11.2011)

12,20 %

1,6616

2,3280

2,6658

 

 

BALANCE SHEETS

 

 

 ( 31.12.2007 )  TL Thousand

 

 ( 31.12.2008 )  TL Thousand

 

 ( 31.12.2009 )  TL Thousand

 

CURRENT ASSETS

75.802

0,64

108.454

0,69

177.353

0,73

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

Cash and Banks

42.834

0,36

77.653

0,49

123.752

0,51

Marketable Securities

577

0,00

0

0,00

0

0,00

Account Receivable

18.148

0,15

17.376

0,11

29.207

0,12

Other Receivable

7

0,00

234

0,00

207

0,00

Inventories

11.994

0,10

12.551

0,08

20.615

0,09

Advances Given

0

0,00

0

0,00

0

0,00

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

Other Current Assets

2.242

0,02

640

0,00

3.572

0,01

NON-CURRENT ASSETS

42.935

0,36

49.095

0,31

64.894

0,27

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

Long-term Receivable

3.587

0,03

4.259

0,03

2.804

0,01

Financial Assets

77

0,00

77

0,00

77

0,00

Tangible Fixed Assets (net)

31.908

0,27

34.258

0,22

37.082

0,15

Intangible Assets

6.571

0,06

10.285

0,07

24.021

0,10

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

792

0,01

216

0,00

910

0,00

TOTAL ASSETS

118.737

1,00

157.549

1,00

242.247

1,00

CURRENT LIABILITIES

39.741

0,33

41.691

0,26

61.035

0,25

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

Financial Loans

26.469

0,22

33.108

0,21

60.011

0,25

Accounts Payable

12.972

0,11

8.444

0,05

870

0,00

Loans from Shareholders

0

0,00

0

0,00

0

0,00

Other Short-term Payable

50

0,00

7

0,00

64

0,00

Advances from Customers

0

0,00

0

0,00

0

0,00

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

Taxes Payable

29

0,00

31

0,00

23

0,00

Provisions

221

0,00

101

0,00

64

0,00

Other Current Liabilities

0

0,00

0

0,00

3

0,00

LONG-TERM LIABILITIES

49.539

0,42

52.721

0,33

108.668

0,45

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

Financial Loans

49.539

0,42

52.721

0,33

108.668

0,45

Securities Issued

0

0,00

0

0,00

0

0,00

Long-term Payable

0

0,00

0

0,00

0

0,00

Loans from Shareholders

0

0,00

0

0,00

0

0,00

Other Long-term Liabilities

0

0,00

0

0,00

0

0,00

Provisions

0

0,00

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

29.457

0,25

63.137

0,40

72.544

0,30

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

Paid-in Capital

20.000

0,17

50.000

0,32

50.000

0,21

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

2.295

0,02

2.295

0,01

2.295

0,01

Equity of Consolidated Firms

0

0,00

0

0,00

0

0,00

Reserves

3.151

0,03

7.364

0,05

16.265

0,07

Revaluation Fund

0

0,00

0

0,00

0

0,00

Accumulated Losses(-)

-696

-0,01

-696

0,00

-696

0,00

Net Profit (loss)

4.707

0,04

4.174

0,03

4.680

0,02

TOTAL LIABILITIES AND EQUITY

118.737

1,00

157.549

1,00

242.247

1,00

 

 

 

 ( 31.12.2010 )  TL

 

CURRENT ASSETS

294.180.539

0,81

Not Detailed Current Assets

0

0,00

Cash and Banks

142.776.806

0,39

Marketable Securities

38.357.643

0,11

Account Receivable

51.595.176

0,14

Other Receivable

21.230.050

0,06

Inventories

33.535.229

0,09

Advances Given

0

0,00

Accumulated Construction Expense

0

0,00

Other Current Assets

6.685.635

0,02

NON-CURRENT ASSETS

68.289.590

0,19

Not Detailed Non-Current Assets

0

0,00

Long-term Receivable

2.667.896

0,01

Financial Assets

3.077.037

0,01

Tangible Fixed Assets (net)

37.047.619

0,10

Intangible Assets

25.392.354

0,07

Deferred Tax Assets

0

0,00

Other Non-Current Assets

104.684

0,00

TOTAL ASSETS

362.470.129

1,00

CURRENT LIABILITIES

113.259.585

0,31

Not Detailed Current Liabilities

3.430

0,00

Financial Loans

106.714.185

0,29

Accounts Payable

5.978.071

0,02

Loans from Shareholders

0

0,00

Other Short-term Payable

51.004

0,00

Advances from Customers

0

0,00

Accumulated Construction Income

0

0,00

Taxes Payable

30.866

0,00

Provisions

482.029

0,00

Other Current Liabilities

0

0,00

LONG-TERM LIABILITIES

169.885.386

0,47

Not Detailed Long-term Liabilities

0

0,00

Financial Loans

169.526.199

0,47

Securities Issued

0

0,00

Long-term Payable

0

0,00

Loans from Shareholders

0

0,00

Other Long-term Liabilities

359.187

0,00

Provisions

0

0,00

STOCKHOLDERS' EQUITY

79.325.158

0,22

Not Detailed Stockholders' Equity

0

0,00

Paid-in Capital

54.750.000

0,15

Cross Shareholding Adjustment of Capital

0

0,00

Inflation Adjustment of Capital

2.294.826

0,01

Equity of Consolidated Firms

0

0,00

Reserves

16.195.573

0,04

Revaluation Fund

0

0,00

Accumulated Losses(-)

-695.718

0,00

Net Profit (loss)

6.780.477

0,02

TOTAL LIABILITIES AND EQUITY

362.470.129

1,00

 

REMARKS ON FINANCIAL STATEMENT

:

At the income statement of 01.01.-30.09.2011,  TL 35.570.095  of the other expenses is due to "Loss from Foreign Currency Exchange" .

 

 

INCOME STATEMENTS

 

 

(2007) TL Thousand

 

(2008) TL Thousand

 

(2009) TL Thousand

 

Net Sales

239.943

1,00

275.357

1,00

180.157

1,00

Cost of Goods Sold

225.237

0,94

260.567

0,95

168.231

0,93

Gross Profit

14.706

0,06

14.790

0,05

11.926

0,07

Operating Expenses

6.401

0,03

7.631

0,03

7.262

0,04

Operating Profit

8.305

0,03

7.159

0,03

4.664

0,03

Other Income

2.709

0,01

10.656

0,04

14.915

0,08

Other Expenses

1.047

0,00

8.734

0,03

9.021

0,05

Financial Expenses

4.170

0,02

3.819

0,01

4.676

0,03

Minority Interests

0

0,00

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

0

0,00

Profit (loss) Before Tax

5.797

0,02

5.262

0,02

5.882

0,03

Tax Payable

1.090

0,00

1.088

0,00

1.202

0,01

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

Net Profit (loss)

4.707

0,02

4.174

0,02

4.680

0,03

 

 

 

 

 

 

 

(2010) TL

 

(01.01-30.09.2011) TL

 

Net Sales

326.791.065

1,00

445.088.977

1,00

Cost of Goods Sold

302.311.886

0,93

420.707.672

0,95

Gross Profit

24.479.179

0,07

24.381.305

0,05

Operating Expenses

9.930.564

0,03

13.232.213

0,03

Operating Profit

14.548.615

0,04

11.149.092

0,03

Other Income

26.140.487

0,08

79.730.663

0,18

Other Expenses

21.961.423

0,07

75.680.242

0,17

Financial Expenses

10.131.397

0,03

10.922.124

0,02

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

8.596.282

0,03

4.277.389

0,01

Tax Payable

1.815.805

0,01

1.201.111

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

6.780.477

0,02

3.076.278

0,01

 

 

FINANCIAL RATIOS

 

 

(2007)

(2008)

(2009)

(2010)

LIQUIDITY RATIOS

 

 

Current Ratio

1,91

2,60

2,91

2,60

Acid-Test Ratio

1,55

2,28

2,51

2,24

Cash Ratio

1,09

1,86

2,03

1,60

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,10

0,08

0,09

0,09

Short-term Receivable/Total Assets

0,15

0,11

0,12

0,20

Tangible Assets/Total Assets

0,27

0,22

0,15

0,10

TURNOVER RATIOS

 

 

Inventory Turnover

18,78

20,76

8,16

9,01

Stockholders' Equity Turnover

8,15

4,36

2,48

4,12

Asset Turnover

2,02

1,75

0,74

0,90

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,25

0,40

0,30

0,22

Current Liabilities/Total Assets

0,33

0,26

0,25

0,31

Financial Leverage

0,75

0,60

0,70

0,78

Gearing Percentage

3,03

1,50

2,34

3,57

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

0,16

0,07

0,06

0,09

Operating Profit Margin

0,03

0,03

0,03

0,04

Net Profit Margin

0,02

0,02

0,03

0,02

Interest Cover

2,39

2,38

2,26

1,85

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

32,61

28,29

63,97

59,78

Average Payable Period (days)

20,73

11,67

1,86

7,12

WORKING CAPITAL

36061,00

66763,00

116318,00

180920954,00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.72

UK Pound

1

Rs.82.70

Euro

1

Rs.68.90

 

 

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.