Integrated Filing — IndAS



General information about company

Scrip Code 526608
NSE Symbol ELECTHERM
MSEI Symbol NOTLISTED
ISIN INE822G01016
Name of company ELECTROTHERM (INDIA) LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 14-08-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 05-08-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter First quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 14-08-2026   11:00:00
End date and time of board meeting 14-08-2026   15:15:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 91,338.00 91,338.00
Other income 151.00 151.00
Total income 91,489.00 91,489.00
2 Expenses
(a) Cost of materials consumed 71,374.00 71,374.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (6,330.00) (6,330.00)
(d) Employee benefit expense 5,637.00 5,637.00
(e) Finance costs 397.00 397.00
(f) Depreciation, depletion and amortisation expense 1,113.00 1,113.00
(f) Other Expenses
1 Other Expenses 18,417.00 18,417.00
Total other expenses 18,417.00 18,417.00
Total expenses 90,608.00 90,608.00
3 Total profit before exceptional items and tax 881.00 881.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 881.00 881.00
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax 193.00 193.00
9 Total tax expenses 193.00 193.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 688.00 688.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 5.00 5.00
16 Total profit (loss) for period 693.00 693.00
17 Other comprehensive income net of taxes 14.00 14.00
18 Total Comprehensive Income for the period 707.00 707.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 693.00 693.00
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 14.00 14.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 1,274.00 1,274.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 5.44 5.44
Diluted earnings (loss) per share from continuing operations 5.44 5.44
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 5.44 5.44
Diluted earnings (loss) per share from continuing and discontinued operations 5.44 5.44
24 Debt equity ratio 0 0
25 Debt service coverage ratio 0 0
26 Interest service coverage ratio 0 0
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The above Consolidated Financial Results of Electrotherm (India) Limited (holding Company) (the “Holding Company” and along with its subsidiary and joint venture the “Group”) were reviewed and recommended by the Audit Committee meeting held on August 13, 2026 and approved by the Board of Directors at their meeting held on August 14, 2026. 2. The figures of the last quarter ended on March 31, 2026 are the balancing figure between audited figures in respect of the full financial year ended on March 31, 2026 and the unaudited published year to date figures upto December 31, 2025, being the date of the end of third quarter, which were subjected to limited review. 3. (a) The Holding Company defaulted in the payment of loan installments amounting to Rs. 40.00 crore and the related interest of Rs. 6.46 crore due to Invent Assets Securitization and Reconstruction Private Limited (“Invent ARC”) from the quarter ended September 30, 2025 onwards till June 30, 2026. The holding company is in negotation with Invent ARC for resedulement of the default principal and interest amount and the holding company is hopeful that there will be no further liability toward the loan. (b) The Holding Company has requested Edelweiss Asset Reconstruction Company Ltd. (“Edelweiss ARC”) to grant extended time for payment of the outstanding amount of the last installment due in the month of March 2026 aggregating to Rs. 15.79 Crores due to temporary liquidity constraints. The request is presently under consideration for revised terms by Edelweiss ARC and accordingly, the said amount has not been considered as a default. (c) With regard to both the loan, as per the terms of the said settlement, in the event of default, the settlement is deemed to be withdrawn, and all dues and liabilities under the original loan agreement are liable to be reinstated. However, based on the discussion with Asset Reconstruction Companies (ARCs), it is hopeful that no further liability will arise under the original loan terms. The impact of debt reduction resulting from the settlement with ARCs will be accounted for upon final compliance with all terms and conditions of the respective settlement agreements. (d) Hans Ispat Limited, a wholly owned subsidiary of the Holding Company, has been in default of its loan repayment obligations since December 2019. Invent Assets Securitisation & Reconstruction Private Limited (Invent ARC), the lender, revoked the earlier settlement agreement on September 16, 2021, due to non-compliance with the agreed terms. Subsequently, Invent ARC has initiated recovery proceedings for an outstanding amount of Rs 122.28 crores before the Hon’ble Debts Recovery Tribunal (DRT), Ahmedabad. The Hon’ble DRT, Ahmedabad has allowed the original application filed by Invent ARC by judgement dated May 22, 2026 against Hans Ispat Ltd. & personal guarantors to the extent of Rs. 110.36 Crores as debt due with simple interest @11% per annum from the date of filing of original application i.e. June 20, 2022 till realization. (e) As of June 30, 2026, the Group has the following outstanding loan accounts: Three loan accounts with banks / ARCs namely Bank of Baroda, State Bank of India and Indian Overseas bank (being Assigned to Rare Asset Reconstruction Limited (Rare ARC) that have been classified as non-performing assets (NPAs) and for which no settlement agreements have been entered into; and One loan account, as referred to in point 3(d) above, with an ARC which was classified as an NPA and for which the previously agreed settlement agreement has been withdrawn/revoked. In respect of the above loan accounts, provision for interest on term loans and working capital loans from banks and ARCs for the quarter ended June 30, 2026, amounting approximately to Rs 50.90 Crores has not been provided in the books of accounts. As a result, the net profit of the Group for the Quarter ended June 30, 2026 is overstated by Rs. 50.90 Crores. Further due to order referred in the Note 3(d), there has been change in the interest rate and therefore there is a reversal of interest of Rs 11.67 Crore. Additionally, the loan liabilities from banks and ARCs and the total retained earnings/(losses) as on June 30, 2026, are understated by Rs 1,446.87 Crores. The Statutory Auditor has expressed a qualification in their audit report with respect to the non-provision of interest on the said loan.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026 01-04-2026
Date of end of reporting period 30-06-2026 30-06-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Engineering & Technologies Division 28,825.00 28,825.00
2 Special Steel Division 62,466.00 62,466.00
3 Electric Vehicle Division 0.00771 0.00771
4 Others 0.00 0.00
Total Segment Revenue 92,062.00 92,062.00
Less: Inter segment revenue 724.00 724.00
Revenue from operations 91,338.00 91,338.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Engineering & Technologies Division 2,264.00 2,264.00
2 Special Steel Division (808.00) (808.00)
3 Electric Vehicle Division (180.00) (180.00)
4 Others 2.00 2.00
Total Profit before tax 1,278.00 1,278.00
i. Finance cost 397.00 397.00
ii. Other Unallocable Expenditure net off Unallocable income 0.00 0.00
Profit before tax 881.00 881.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Engineering & Technologies Division 83,109.00 83,109.00
2 Special Steel Division 1,19,377.00 1,19,377.00
3 Electric Vehicle Division 3,043.00 3,043.00
4 Others 930.00 930.00
Total Segment Asset 2,06,459.00 2,06,459.00
Un-allocable Assets 3,747.00 3,747.00
Net Segment Asset 2,10,206.00 2,10,206.00
4 Segment Liabilities
Segment Liabilities
1 Engineering & Technologies Division 76,713.00 76,713.00
2 Special Steel Division 1,43,829.00 1,43,829.00
3 Electric Vehicle Division 1,453.00 1,453.00
4 Others 2,892.00 2,892.00
Total Segment Liabilities 2,24,887.00 2,24,887.00
Un-allocable Liabilities 0.00 0.00
Net Segment Liabilities 2,24,887.00 2,24,887.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) 4. The Holding Company has filed Company Petition No. 21 of 2025 under Section 55(3) of the Act, before the Hon’ble National Company Law Tribunal (“NCLT”), Ahmedabad Bench, on March 11, 2025, for approving issuance of 6% Non-Cumulative Redeemable Preference Shares (“NCRPS”) of 10/- (Rupees Ten Only) each, to the existing NCRPS holders, of amount equivalent to the amount of Unredeemed Preference Shares of Rs. 12,00,00,000/- (Rupees Twelve Crore Only) on the same terms of existing 6% NCRPS, in lieu of the unredeemed preference shares. The Hon’ble NCLT, Ahmedabad Bench, vide Order dated July 21, 2026, has, inter alia, allowed the Company Petition No. 21 of 2025 and permitted the Holding Company, to issue and allot 1,09,50,000 (One Crore Nine Lakhs and Fifty Thousand) 6% Non-Cumulative Redeemable Preference Shares (“NCRPS”) of Rs. 10/- each to the existing five (5) preference shareholders (except one non-consenting preference shareholder) on the same terms and conditions as the original issue, redeemable not earlier than two (2) years and not later than twenty (20) years from the date of such allotment, under Section 55(3) of the Act and redeem 10,50,000 6% NCRPS to a non-consenting preference shareholder. Further, upon issuance and allotment of such NCRPS, the existing unredeemed preference shares corresponding thereto stands deemed to have been redeemed in accordance with Section 55(3) of the Act. The necessary accounting effect of the same will be given on the date of allotment of such NCRPS and payment of redemption amount to the one non-consenting preference shareholder. 5. Directorate of Enforcement, Zonal Office, Ahmedabad (ED) conducted search in Janaury, 2025 in relation to the complaint by Bank of India, freezed bank accounts of the Holding Company and Mr. Shailesh Bhandari, order of the Hon’ble Gujarat High Court for permission to operate the bank accounts and release of seized Car on submission of Fixed Deposit Receipt (FDR) in favour of ED during the pendency of investigation and now the ED has filed complaint under section 44(1)(b) read with Section 45(1) under the provisions of Prevention of Money Laundering Act, 2002 (“PMLA”) before the Hon’ble Special Court for PMLA Cases at Ahmedabad (“Court”) against the Holding Company, Mr. Shailesh Bhandari, Promoter & Executive Vice Chairman and Mr. Mukesh Bhandari, Promoter & Ex – Chairman and based on the notices issued under section 223 of the Bharatiya Nagarik Suraksha Sanhita 2023 (“BNSS”) for hearing on cognizance, the Hon’ble Court has provided the copy of said compliant on 03rd August, 2026 to the Company and Mr. Shailesh Bhandari. The Holding Company and Mr. Shailesh Bhandari had already challenged the action of freezing of bank accounts before the Hon’ble Gujarat High Court / Hon’ble PMLA Appellate Tribunal, New Delhi and quashing of Enforcement Case Information Report (ECIR) registered by ED before Hon’ble Gujarat High Court, which are pending for further hearings. 6. Few accounts of “Trade Receivables,” “Trade Payables”, “Advances from Customer’, Advances Recoverable in Cash or Kind”, “Advances to suppliers and other parties”, including very old balances, are subject to confirmation/reconciliation. The balance with revenue authorities are subject to final assessment order and/or submission of returns. 7. There are pending enquiries / notices / summons / litigation / recovery / fraud proceedings against the Group and directors of the Group before Debts Recovery Tribunal, Central Bureau of Investigation, Directorate of Enforcement, Regional Director of Ministry of Corporate Affairs, Direct Tax, Indirect Tax Department (Ahmedabad and Mumbai) and various courts. 8. (a) In respect of Joint Venture Bhaskarpara Coal Company Limited, the Ministry of Coal, Government of India has taken action for de-allocation of Coal Block, affecting the going concern of the said company. (b) In respect of Shree Ram Electro Cast Limited, one of the subsidiary, the State Bank of India has taken action under SARFAESI Act, 2002 and subsequent action of the sale through auction of the hypothecated / mortgaged assets of the Company situated at Honnarhalli Village, Hatchali Post, Siruguppa Taluka, Bellari District. Karnataka in February 2019, affecting the going concern of the said company. (c) In respect of Hans Ispat Limited, one of the wholly owned subsidiary, Bank of Baroda has taken action under the Recovery of Debts due to Banks and Financial Institutions Act 1993 and subsequent action of the sale through auction of the hypothecated / mortgaged assets of the Company by the Ld. Recovery Officer of the Hon’ble Debts Recovery Tribunal, Ahmedabad, affecting the going concern of the said company. 9. Figure of previous period's have been regrouped, wherever considered necessary to make them comparable to current period figure.



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement Gain / (Loss) on Defined Benefit Plans 14.00 14.00
Total Amount of items that will not be reclassified to profit and loss 14.00
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 14.00 14.00