ELECTHERM2024-04-012024-06-30 ELECTHERM2024-04-012024-06-30in-bse-fin:OneOperatingExpenses01Member ELECTHERM2024-06-30 ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentRevenue01Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentResults01Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentAssets01Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentLiabilities01Member ELECTHERM2024-06-30in-bse-fin:OneReportableSegmentLiabilities01Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 526608 ELECTHERM NOTLISTED Electrotherm (India) Limited Equity 2024-04-01 2025-03-31 2024-08-10 2024-08-02 INR Crores First quarter 10:35:00 15:40:00 2024-08-10 2024-08-10 Not applicable Multi segment 2024-04-01 2024-06-30 Unaudited Standalone 10593800000.00 8800000.00 10602600000.00 7052300000.00 203100000.00 -322900000.00 522800000.00 137500000.00 106000000.00 1815700000.00 9514500000.00 1088100000.00 0.00 1088100000.00 0.00 0.00 0.00 0.00 1088100000.00 0.00 0.00 0.00 0.00 1088100000.00 -5600000.00 1082500000.00 1082500000.00 0.00 127400000.00 10 85.41 85.41 0.00 0.00 85.41 85.41 1.The above Standalone Financial Results of Electrotherm (India) Limited (the “Company”) have been reviewed and recommended by the Audit Committee meeting held on August 09, 2024 and approved by the Board of Directors at their meeting held on August 10, 2024. 2.The figure for the last quarter ended March 31, 2024 are the balancing figures between audited figures in respect of the full financial year ending March 31, 2024 and the unaudited published year-to-date figures upto December 31, 2023 being the date of the end of the third quarter, which were subject to limited review. 3.As per Ind AS 108 Operating Segments , if a financial report contains both consolidated financial statements and the standalone financial statements of the Parent Company, segment information may be presented based on the consolidated financial statements. Thus, disclosure required by regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 on segment information is given in consolidated financial results. 4.(a) Based upon the proposal of the company, Invent Assets Securitization and Reconstruction Private Limited ( Invent ARC ) on May 31, 2024 have sanctioned the Re-scheduling of the outstanding default loan due, where in the company is required to repay the loan amount with interest @ 11% p.a. on the outstanding balance of re-scheduled amount. The detail of the loan repayment is as under: Rs. in Crore Name of the Assignee (Bank) Repayable Principal Outstanding Amount No of instalment Repayment Period Oriental Bank of Commerce ( Merged with Punjab National Bank) 6.25 4 June 30, 2024 to March 31, 2025 Allahabad Bank (Merged with Indian Bank) 73.27 12 June 30, 2024 to March 31, 2027 Punjab National Bank 47.68 12 June 30, 2024 to March 31, 2027 During the quarter ended as at June 2024, the company has defaulted in repayment of the Instalment due of the loan amounting to Rs 5.00 Crore. Subsequently, the company has made payment of Rs. 3.00 Crore till date. (b) All the instalment due but not paid till March 2024 have been paid by the company till June 2024 to Rare Asset Reconstruction Limited ( Rare ARC )(assignee of Dena Bank). Interest due of Rs 5.69 Crore for the period from September 2020 to June 2024 (included under the head finance cost of the respective quarters) has not been paid. The company has requested Rare ARC to approve revised repayment schedule for Interest and Rare ARC is yet to confirm the restructuring of the payment of outstanding Interest due. Other Expenses 1815700000.00 Not Applicable 0.00 0.00 0.00 0.00 Not Applicable 0.00 0.00 0.00 0.00 (c) The Company has defaulted in complying with the terms and conditions of settlement agreement as specified above 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, till date the company has not received the recall notice for the payment of the full loan amount and is in negotiation with the respective lenders for rescheduling / restructuring of the loan specified above. 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. (d) Indian Overseas Bank had classified the loan account of the Company as non-performing assets during August 2011 for the default amount of Rs. 189.96 Crores, which was subsequently assigned to Rare Assets Reconstruction Limited ( Rare ARC ), but with whom the settlement terms have not been entered into. Further, the Hon'ble Debt Recovery Tribunal (DRT), Ahmedabad has passed judgement against Company for recovery alongwith future interest on the amount due @12.75% p.a. with monthly rests. During the year ended March 31, 2024 the Company have paid Rs. 6.00 Crore as upfront payment towards commitment to settlement. The company has however, not provided the interest for the quarter ended June 30, 2024 of Rs 31.40 Crore accordingly the amount of net profit for the quarter is over stated by Rs 31.40 Crore. Accordingly, the total amount of Assets Reconstruction Company's liability and retained earnings/(loss) as on June 30, 2024 is understated by Rs. 816.12 Crore. The statutory auditor has expressed qualification in respect of non-provision of interest by the company on the said loan. (e) With regard to Central Bank of India and Edelweiss Assets Reconstruction Company Limited, the impact of reduction in debt due to Settlement with Banker/ARCs, will be given on the final compliance of all the terms and conditions of the settlement terms. 5.Few accounts of “Trade Receivables,” “Trade Payable”, “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. 6.There are certain pending enquiries / notices / summons / litigation / recovery / fraud 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, Direct Tax, Indirect Tax Department (Ahmedabad and Mumbai) and various courts. 7.Figure of previous period’s have been regrouped, wherever considered necessary to make them comparable to current period figure. 0.00 Not Applicable 0.00 0.00 0.00 0.00 Not Applicable 0.00 0.00 0.00 0.00 Remeasure Gain / (Loss) on Defined Benefit Plans -5600000.00 -5600000.00 0.00 0.00