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:OneReportableSegmentRevenue02Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentRevenue03Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentRevenue04Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentResults01Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentResults02Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentResults03Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentResults04Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentAssets01Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentAssets02Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentAssets03Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentAssets04Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentLiabilities01Member ELECTHERM2024-06-30in-bse-fin:OneReportableSegmentLiabilities01Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentLiabilities02Member ELECTHERM2024-06-30in-bse-fin:OneReportableSegmentLiabilities02Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentLiabilities03Member ELECTHERM2024-06-30in-bse-fin:OneReportableSegmentLiabilities03Member ELECTHERM2024-04-012024-06-30in-bse-fin:OneReportableSegmentLiabilities04Member ELECTHERM2024-06-30in-bse-fin:OneReportableSegmentLiabilities04Member 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 Consolidated 10593800000.00 8800000.00 10602600000.00 7052300000.00 203100000.00 -322900000.00 522800000.00 137500000.00 106000000.00 1816000000.00 9514800000.00 1087800000.00 0.00 1087800000.00 0.00 0.00 0.00 0.00 1087800000.00 0.00 0.00 0.00 600000.00 1088400000.00 -5600000.00 1082800000.00 1088400000.00 0.00 0.00 0.00 127400000.00 10 85.43 85.43 0.00 0.00 85.43 85.43 1.TheaboveConsolidated financial results of Electrotherm(India)Limited (holding Company)(the“holdingCompany”and along with its subsidiary and joint venture the “Group”) were reviewed and recommended by the Audit Committee 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.(a)Hans Ispat Limited, subsidiary,has entered into settlement with InventAssetsSecuritization and ReconstructionPrivateLimited (assignee of StateBankofIndia).However in view of the default in repayment since December2019, Invent ARC has withdrawn/revoked the settlement on September16,2021 and initiated the recovery proceedings forRs122.28crores before the Hon’bleDebtsRecoveryTribunal (DRT),Ahmedabad.(b)Based upon the proposal of the Holding Company,Invent Assets Securitization and Reconstruction Private Limited( Invent ARC )on May31,2024 have sanctioned the Re-scheduling of theoutstandingdefaultloandue, 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 12June 30,2024 to March31,2027 PNB 47.68 12 June 30,2024 to March 31,2027 During the quarter ended as at June 2024, the holding company has defaulted in repayment of the Instalment due of the loan amounting to Rs 5.00 Crore. Subsequently, the holding company has made payment of Rs.3.00Crore till date.(c)All the instalment due but not paid till March2024 have been paid by the holding 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 September2020 to June2024 (included under the head finance cost of the respective quarters) has not been paid. The holding 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.(d)The group has defaulted in complying with the terms and conditions of settlement agreement as specified in(b)and(c) 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,tilldatethegrouphasnotreceivedtherecallnoticeforthepaymentofthefullloanamountandisinnegotiationwiththerespectivelendersforrescheduling/restructuringoftheloanspecifiedin(b)and(c)above.Thegroupishopefulfornofurtherliabilityonthegroupandtherefore,thefinalamountofliabilitytobepaidisnotascertainableandwhichhasnotbeenaccountedfor.(e)ThreeloanaccountsoftheGroupwereclassifiedasnonperformingassetsandwithwhomsettlementagreementhasnotbeenenteredinto,provisionforinterestontermloanandworkingcapitalloanforthequarterandyearendedJune30,2024onapproximatebasisofRs37.35CrorehavenotbeenprovidedinthebooksofaccountsandaccordinglytheamountofNetprofitforthequarterisoverstatedbyRs37.35CroreandtheamountofAssetsReconstructionCompanyliabilityandtotalretainedearnings/(loss)asonJune30,2024isunderstatedbyRs.980.48Crore.Thestatutoryauditorhasexpressedqualificationinrespectofaboveasregardstononprovisionofinterestbythegroup.(f)WithregardtoCentralBankofIndiaandEdelweissAssetsReconstructionCompanyLimited,theimpactofreductionindebtduetoSettlementwithBanker/ARCs,willbegivenonthefinalcomplianceofallthetermsandconditionsofthesettlementterms. Other Expenses 1816000000.00 Electric Vehicle Division 49100000.00 Engineering & Technologies Division 2692400000.00 Others 0.00 Special Steel Division 8017100000.00 10758600000.00 164800000.00 10593800000.00 Electric Vehicle Division -16300000.00 Engineering & Technologies Division 292100000.00 Others -200000.00 Special Steel Division 949700000.00 1225300000.00 137500000.00 0.00 4. 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.5.There are certain 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, National Company Law Tribunal, Regional Director of Ministry of Corporate Affairs, Direct Tax, IndirectTax Department (Ahmedabad and Mumbai) and various courts.6. (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 Taluk, Bellari District.Karnataka in February2019, affecting the going concern of the said company.(c) ET-Elec Trans Limited has cash lossofRs.0.00 Crore and accumulated losses of Rs 1.49 Crore which has fully eroded the net worth of the said subsidiary company. These conditions indicate the existence of a material uncertainty that may cast significant doubt about the said subsidiary company's ability to continue as a going concern.(d)Bank of Baroda had filed Original Application against Hans Ispat Limited (Wholly Owned Subsidiary Company) & its guarantors (i.e. Mr. Shailesh Bhandari and Mr. Mukesh Bhandari) before Debts Recovery Tribunal-1,Ahmedabad(“DRT”)under section19ofthe RecoveryofDebtsduetoBanksandFinancialInstitutionsAct 1993. As per judgement of the Hon’ble DRT, Ahmedabad, the recovery proceedings had been initiated for e-auction of properties and the properties has been auctioned for the amount of Rs. 33.03 Crores in November,2021 However, Invent Assets Securitisations & Reconstruction Private Limited ( Invent ARC ) (assignee of debts of State Bank of India for Wholly Owned Subsidiary Company) has filed appeal before DRAT,Mumbai and as per the interim order of Hon'ble DRAT, Mumbai, by way of interim arrangement, the auction purchaser was permitted to run the factory, subject to certain conditions. Hans Ispat Limited has also filed appeal before Hon'ble DRAT, Mumbai, which was disposed off with direction to deposit Rs. 25 Crores in 4 equal installments. The writ petitions filed by Invent ARC and Hans Ispat Ltd. against orders of Hon'ble DRAT, Mumbai are pending before Hon'ble Bombay High Court for further hearing. Hon’ble DRAT, Mumbai by way of judgement dated June 24, 2024 dismissed the appeal filed by Invent ARC and Invent ARC has challenged the said order before Hon’ble Bombay High Court. Further based on the application of the auction purchaser, the Hon’ble Recovery Officer by order dated July 18,2024 authorized the bank officer for execution of sale deed in favour of auction purchaser, subject to there being no stay from any higher forum and accordingly the sale deed was presented / executed before SRO Anjar for registration on July 24,2024. Impact of Sale deed on Property Plant and Equipement and Liability of the subsidiary company towards the Bankers / Assets Reconstruction Company will be given accordingly.These conditions indicate the existence of a material uncertainty that may cast significant doubt about the said Joint Venture / Wholly Owned Subsidiary Company's ability to continue as a going concern.7.Figure of previous period's have been regrouped, wherever considered necessary to make them comparable to current period figure. 1087800000.00 Electric Vehicle Division 312400000.00 Engineering & Technologies Division 6309200000.00 Others 77400000.00 Special Steel Division 12119500000.00 18818500000.00 Electric Vehicle Division 109200000.00 Engineering & Technologies Division 6470800000.00 Others 287100000.00 Special Steel Division 18679900000.00 25547000000.00 Remeasurement Gain/(Loss) on Defined Benefit Plans -5600000.00 -5600000.00 0.00 0.00