MIRA INFORM REPORT
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Report Date : |
29.01.2007 |
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 |
|
|
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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Website
: |
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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
|
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 : |
23.07.1959 |
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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 : |
07.021960 |
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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 : |
15.051949 |
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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]
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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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.
44.27 |
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UK Pound |
1 |
Rs.
86.71 |
|
Euro |
1 |
Rs.
57.13 |
SCORE
& RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
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 |
|
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 |
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 |