MIRA INFORM
REPORT
|
Report
Date : |
16.07.2007 |
IDENTIFICATION DETAILS
|
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
: |
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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 |
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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, |
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Date
of Birth/Age : |
23.07.1959 |
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Qualification
: |
BE. |
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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, |
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Date
of Birth/Age : |
07.021960 |
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Qualification
: |
BE. |
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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, |
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Date
of Birth/Age : |
15.051949 |
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Qualification
: |
BE. |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
|
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, |
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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 v Citi Bank, |
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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: |
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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
|
SOURCES OF FUNDS |
|
|
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
|
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
- 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
CURRENT MARKET
Foundries in
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,
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. 40.47 |
|
|
1 |
Rs. 82.08 |
|
Euro |
1 |
Rs. 55.74 |
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 |
|
--LISTED |
YES/NO |
NO |
|
--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 |
|
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 |