Megatherm Induction Limited IPO Detail

Incorporated in 2010, Megatherm Induction Limited manufactures induction heating and melting products using electrical induction such as induction melting furnaces and induction heating equipment. Megatherm Induction is a subsidiary of Megatherm Electronics Private Limited.

The company also manufactures upstream and downstream equipment and machinery for steelworks, such as transformers, ladle refining furnaces, continuous casting machines, fume extraction systems, etc., as well as electric arc furnaces for the alloy and special steel industry.

The company also offers turnkey solutions for steel plants, which include the planning, engineering, delivery, assembly and commissioning of steel plants with its own or outsourced systems and machines, as well as customer service with maintenance contracts and spare parts business.

Megatherm's key market segments are Secondary steel producers that recycle scrap, primary steel producers that convert iron ore into sponge iron and then convert it into steel through induction melting, automotive suppliers, Ordnance factories and railroads, DI pipe manufacturers, and various engineering industries that produce critical parts in their own casting, forging and metal processing facilities.

Megatherm Induction's manufacturing unit is located in Kharagpur and has a production capacity of around 300 furnaces and transformers (as of March 31, 2023).

The company exports products to South America, Africa, the Gulf region, Europe, SAARC and Southeast Asia.

As at July 31, 2023, the company had 285 permanent employees.