MIRA INFORM REPORT
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Report Date : |
15.11.2006 |
IDENTIFICATION DETAILS
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Name : |
MEGATHERM
ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
1/E,
Baikunth, 11A N. S. C. Bose Road, Kolkata, West Bengal, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
22.06.1989 |
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Com. Reg. No.: |
21-47097 |
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CIN No.: [Company Identification No.] |
U47999WB1989PTC047097 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
CALM02078G |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer,
Trader, and Exporter of Medium furnaces
induction melting furnaces, induction furnaces melting, Automated
machines for induction hardening of Auto components, Adopt transformers etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established company having fine track. Trade relations are fair.
General financial position is satisfactory. Payments are usually correct and
as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
Plot L-1, Block GP, Sector
V, Kolkata 700091, West Bengal, India |
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Tel. No.: |
91-33-23577854/23577745/23577352/23577757 |
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E-Mail : |
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Area : |
46000
Sq fts |
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Location : |
Leased |
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Factory/Branch : |
11A/
N. S. C. Bose Road, Kolkata 700 032 |
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Area : |
18000
Sq. fts |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr.
Ashim Dutta |
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Designation : |
Director |
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Address : |
1F,
Baikunth, ¼ N.S.C Bose Road, Kolkata-700 040 |
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Date of Birth/Age : |
23rd
July,1959 |
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Qualification : |
BE.
Cal |
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Experience : |
10
years |
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Name : |
Mr.
S. Biswas |
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Designation : |
Director |
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Address : |
17/2,
N.S.C. Bose Road, Kolkata-700 045 |
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Date of Birth/Age : |
7th
February, 1960 |
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Qualification : |
BE.
Cal |
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Experience : |
9
years |
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Name : |
Mr.
Sheshadri Chandra |
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Designation : |
Director |
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Address : |
114,
N.S.C. Bose Road, Kolkata-700 045 |
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Date of Birth/Age : |
15th
May, 1949 |
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Qualification : |
BE.
Cal |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
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Mr. Ashim Dutta |
25 |
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Mr. S. Biswas |
25 |
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Mr. B. Chandra |
25 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Trader, and Exporter of Medium furnaces
induction melting furnaces, induction furnaces melting, Automated
machines for induction hardening of Auto components, Adopt transformers etc. |
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Products : |
Medium
furnance induction melting furnance,
induction furnance melting, Automated machines for induction hardening at
Auto components, Adopt transformers, etc. |
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Exports to : |
UAE,
Nepal, Bangladesh |
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Terms : |
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Selling : |
L/C or Credit (30 Days) |
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Purchasing : |
L/C
or Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers,
Retailers |
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No. of Employees : |
250 |
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Bankers : |
v
State Bank of India,
Commercial Branch, Kolkata-700016 v
Citi Bank, N.S.C. Bose
Road, Kolkata-700040 |
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Facilities : |
Credit
Limit: Rs. 0.100 Million |
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Banking Relations : |
Satisfactory |
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Auditors : |
Bhattacharjee
Roy Chowdhari & Associates Chartered
Accountant |
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Address: |
Braborne
Road, Kolkata 700 001 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Capital |
Rs. 100/ each |
Rs. 10.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
59600 |
Equity
Capital |
Rs. 100/ each |
Rs. 5.960 Millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
Efforts are continued for
latest financial and shall be supplemented as soon as it is made available. It
is expected to be available within 3 weeks
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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5.960 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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19.457 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH
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25.417 |
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LOAN FUNDS |
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1] Secured Loans |
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38.125 |
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2] Unsecured Loans |
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1.109 |
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TOTAL
BORROWING
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39.234 |
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DEFERRED TAX LIABILITIES |
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0.280 |
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TOTAL
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64.931 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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25.051 |
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Capital work-in-progress
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1.684 |
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INVESTMENT
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0.000 |
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DEFERREX TAX ASSETS
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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12.175 |
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Sundry Debtors
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13.000 |
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Cash & Bank Balances
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22.000 |
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Other Current Assets
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5.000 |
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Loans & Advances
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2.100 |
Total Current Assets
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54.275 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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10.089 |
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Provisions
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7.000 |
Total Current Liabilities
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17.089 |
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Net Current
Assets
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37.186 |
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MISCELLANEOUS EXPENSES
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1.010 |
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TOTAL
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64.931 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
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31.03.2005 |
Sales Turnover [including other income]
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296.280 |
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Profit/(Loss) Before Tax
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8.558 |
Provision for Taxation
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2.860 |
Profit/(Loss) After Tax
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5.698 |
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
PAT / Total Income
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(%)
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1.92 |
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Net Profit Margin
(PBT/Sales) |
(%) |
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2.88 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
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10.78 |
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Return on Investment (ROI)
(PBT/Networth) |
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0.33 |
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Debt Equity Ratio
(Total Liability/Networth) |
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2.21 |
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Current Ratio
(Current Asset/Current
Liability) |
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3.17 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- Sail
- Coal India
- Semens
Megatherm was formed in 1990 by a group of technocrat, who had several
years of Industrial experience of Induction technology behind them. In a short
span, the company registered a sharp growth. The company is now well
established in the Indian Market and a regular exporter of Induction Furnace
LOCATION AND INFRASTRUCTURE
The Company has a state of the art assembly unit at Salt Lake
Electronics Complex near Kolkata and equipped with comprehensive load testing
setup and modern quality control tools. Megatherm's design faculty includes
experts equipped with CAD workstations and simulation software in the area of
Power Electronics and electromagnetics. The Company has extensive Customer
Support Network across the country having its branches spread all over India
CURRENT MARKET
Foundries in India and
abroad
Mini Steel Plants.
Automobile & Engineering Industries.
Forging & Extrusion Plants
Product
Profile
Megatherm's major operation is currently focused on the
manufacturing of Medium Frequency Induction Melting Furnaces, which caters to
the modern foundries as well as Induction heating & hardening equipment for
Automobile and Forging Industries. The critical technology of such Induction
Furnaces is centered around the Medium Frequency Power Supplies based on State
of the art Solid State Power Electronics Technology.
They provide Turnkey solutions for:
- Induction Melting
- Induction Heating
- Induction Hardening
- Induction Annealing
Product
Range
Medium Frequency Power
Sources for Induction Heating, Melting, Annealing, etc.
Induction Melting
Furnace Crucibles up to 20 Ton Steel Holding Capacity.
Continuous
Induction Billet and Bar end Heaters for Forging Industry.
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the
subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.
8] Affiliation
with Government :
No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.
9] Compensation
Package :
Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on the subject.
CORPORATE
GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN
EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 45.34 |
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UK
Pound |
1 |
Rs. 85.82 |
|
Euro |
1 |
Rs. 58.05 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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%)
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |