Incorporated in 2010, Megatherm Induction Limited, a subsidiary of Megatherm Electronics Private Limited, specializes in manufacturing induction heating and melting equipment, including induction furnaces and steelworks machinery such as transformers, ladle refining furnaces, and continuous casting machines. The company also provides turnkey solutions for steel plants, covering planning, engineering, equipment delivery, and maintenance. Serving secondary and primary steel producers, automotive suppliers, ordnance factories, and engineering industries, Megatherm Induction exports to South America, Africa, the Gulf, Europe, SAARC, and Southeast Asia. With a manufacturing unit in Kharagpur producing around 300 furnaces and transformers annually, the company had 285 permanent employees as of July 31, 2023, ensuring a strong global presence in the steel and metal processing sector.