ELECTHERM2023-10-012023-12-31 ELECTHERM2023-10-012023-12-31 ELECTHERM2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member ELECTHERM2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member ELECTHERM2023-12-31 ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentRevenue01Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentRevenue02Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentRevenue03Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentRevenue04Member ELECTHERM2023-10-012023-12-31in-bse-fin:FourReportableSegmentRevenue01Member ELECTHERM2023-10-012023-12-31in-bse-fin:FourReportableSegmentRevenue02Member ELECTHERM2023-10-012023-12-31in-bse-fin:FourReportableSegmentRevenue03Member ELECTHERM2023-10-012023-12-31in-bse-fin:FourReportableSegmentRevenue04Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentResults01Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentResults02Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentResults03Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentResults04Member ELECTHERM2023-10-012023-12-31in-bse-fin:FourReportableSegmentResults01Member ELECTHERM2023-10-012023-12-31in-bse-fin:FourReportableSegmentResults02Member ELECTHERM2023-10-012023-12-31in-bse-fin:FourReportableSegmentResults03Member ELECTHERM2023-10-012023-12-31in-bse-fin:FourReportableSegmentResults04Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentAssets01Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentAssets02Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentAssets03Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentAssets04Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentLiabilities01Member ELECTHERM2023-12-31in-bse-fin:OneReportableSegmentLiabilities01Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentLiabilities02Member ELECTHERM2023-12-31in-bse-fin:OneReportableSegmentLiabilities02Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentLiabilities03Member ELECTHERM2023-12-31in-bse-fin:OneReportableSegmentLiabilities03Member ELECTHERM2023-10-012023-12-31in-bse-fin:OneReportableSegmentLiabilities04Member ELECTHERM2023-12-31in-bse-fin:OneReportableSegmentLiabilities04Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 526608 ELECTHERM NOTLISTED Electrotherm (India) Limited Equity 2023-04-01 2024-03-31 2024-02-08 2024-02-01 INR Crores Third quarter 15:55:00 18:40:00 2024-02-08 2024-02-08 Not applicable Multi segment 2023-10-01 2023-12-31 Unaudited Consolidated 11373300000.00 3300000.00 11376600000.00 8094100000.00 0.00 -215500000.00 429800000.00 75500000.00 116600000.00 1805300000.00 10305800000.00 1070800000.00 0.00 1070800000.00 0.00 0.00 0.00 0.00 1070800000.00 0.00 0.00 0.00 0.00 1070800000.00 -1000000.00 1069800000.00 1070800000.00 0.00 1069800000.00 0.00 127400000.00 10 84.05 84.05 0.00 0.00 84.05 84.05 1.The above Consolidated financial results of Electrotherm (India) Limited (the “Company” and along with its subsidiary and joint venture the “Group”) were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on February 08, 2024. 2.The Statutory auditor have carried out limited review of the consolidated financial results of the company for the quarter and nine months ended as on December 31, 2023.3.In Holding Company:-(a) In view of the Restructure of the loan in November 2023 with Edelweiss Asset Reconstruction Company Limited (“EARC”), (a financial creditor), the petition of EARC under section 7 of the Insolvency and Bankruptcy Code, 2016 before the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad has been dismissed as settled out of the Court on November 22, 2023.(b) (i) In view of the repayment of the entire loan to Union Bank of India, (financial creditor), the petition under section 7 of the Insolvency and Bankruptcy Code, 2016 filed by the financial creditor before the National Company Law Tribunal (NCLT), Ahmedabad was disposed-off as withdrawn on January 18, 2024.(ii) The company has paid all the Instatements and Interest due thereupon as per the OTS agreement with Union Bank of India (including Corporation bank merged with Union Bank of India) and have received no due certificate from the bank. 4.Hans Ispat Limited, subsidiary, has not paid instalment due from December - 2019 to December - 2023 of Rs 32.62 Crore to Invent Assets Securitization and Reconstruction Private Limited. The holding company has not paid instalments due from September - 2020 to December - 2023 to Invent Assets Securitization and Reconstruction Private Limited of Rs 141.00 Crore and Rare Asset Reconstruction Limited from December-2020 to December – 2023 of Rs 9.00 Crore. The holding company has not paid interest due thereon for the period from September - 2020 to December - 2023 to the above lenders. The said interest has been included under the head finance cost of the respective quarters. The company has requested respective lenders/ARCs to approve revised repayment schedule in relation to it and which is yet to be confirmed by the respective lenders/ARCs. The Company has defaulted in complying with the terms and conditions of settlement and as per the settlement terms, in case of default, the agreement stands withdrawn and all the dues & liabilities as per original terms shall be restored. However, the company is in negotiation with the respective lenders for rescheduling / restructuring of the said loan and the company is hopeful for no further liability on the company and therefore, the final amount of liability to be paid is not ascertainable and which has not been accounted for. Multi segment 2023-04-01 2023-12-31 Unaudited Consolidated 30539300000.00 29200000.00 30568500000.00 21731000000.00 0.00 -294400000.00 1187200000.00 425300000.00 357300000.00 5029200000.00 28435600000.00 2132900000.00 0.00 2132900000.00 0.00 0.00 0.00 0.00 2132900000.00 0.00 0.00 0.00 100000.00 2133000000.00 -6800000.00 2126200000.00 2133000000.00 0.00 2126200000.00 0.00 127400000.00 10 167.43 167.43 0.00 0.00 167.43 167.43 Other Expenses 1805300000.00 Other Expenses 5029200000.00 Electric Vehicle Division 98400000.00 Engineering & Technologies Division 3560400000.00 Others 0.00 Special Steel Division 7757100000.00 Electric Vehicle Division 284800000.00 Engineering & Technologies Division 9910800000.00 Others 100000.00 Special Steel Division 20436100000.00 11415900000.00 30631800000.00 42600000.00 92500000.00 11373300000.00 30539300000.00 Electric Vehicle Division -10600000.00 Engineering & Technologies Division 454800000.00 Others 200000.00 Special Steel Division 701900000.00 Electric Vehicle Division -34400000.00 Engineering & Technologies Division 1196200000.00 Others -100000.00 Special Steel Division 1396500000.00 1146300000.00 2558200000.00 75500000.00 425300000.00 0.00 5.The loan given by Indian Overseas Bank (which has been assigned to Rare Assets Reconstruction Limited) defaulted from August - 2011, of Rs 189.96 Crore Bank of Baroda defaulted from April - 2014 of Rs 26.92 Crore and State Bank of India defaulted from December - 2011 of Rs 27.86 Crore were classified as non-performing assets, but with whom the settlement terms have not been entered into, accordingly the group has not made provision for interest for the quarter and nine months ended December 31, 2023 of Rs 35.12 Crore and Rs 102.13 Crore respectively (on approximate basis), in the books of accounts and accordingly the amount of net profit for the quarter and nine months ended December 31, 2023 is over stated by Rs 35.12 Crore and Rs 102.13 Crore respectively. Accordingly, the total amount, of Assets Reconstruction Company & Bank liability and retained earnings/(loss) as on December 31, 2023 is understated by Rs. 906.93 Crore. The statutory auditor has expressed qualification in respect of non-provision of interest by the group on the said loan.6.With regard to Central Bank of India and Edelweiss Assets Reconstruction Company, the impact of reduction in debt due to Settlement with Banker, will be given on the final compliance of all the terms and conditions of the settlement terms.7.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. The amounts of inventories are as taken by the management.8.There are certain pending enquiries / notices / summons / litigation / recovery proceedings against the company and directors of the company before debts recovery tribunal, Central bureau of Investigation, Directorate of Enforcement, National Company Law Tribunal, Regional Director of Ministry of Corporate Affairs, Indirect Tax Department (Ahmedabad and Mumbai) and various courts. Pending final outcome of the ongoing investigations/enquiries, no impact of the same has been considered in financial statements and it will be considered on attaining its finality.10.Considering the outlook of the current situation as stated in para 9(d), during the year ended as on March 31, 2023 the group have provided an impairment on goodwill of Rs 36.46 Crore and have been shown as exceptional item. 11.Figure of previous period's have been regrouped, wherever considered necessary to make them comparable to current period figure. Other Notes are as per results submitted on 08.02.2024. 0.00 1070800000.00 2132900000.00 Electric Vehicle Division 309500000.00 Engineering & Technologies Division 6913100000.00 Others 77600000.00 Special Steel Division 11087100000.00 18387300000.00 0.00 18387300000.00 Electric Vehicle Division 106900000.00 Engineering & Technologies Division 7405600000.00 Others 287500000.00 Special Steel Division 19423200000.00 27223200000.00 -1000000.00 -6800000.00 0.00 0.00 0.00 0.00