5266082025-10-012025-12-315266082025-12-315266082025-04-012025-12-315266082025-10-012025-12-31in-capmkt:OtherExpenses1Member5266082025-04-012025-12-31in-capmkt:OtherExpenses1Member5266082025-10-012025-12-31in-capmkt:ReportableSegments1Member5266082025-10-012025-12-31in-capmkt:ReportableSegments2Member5266082025-10-012025-12-31in-capmkt:ReportableSegments3Member5266082025-10-012025-12-31in-capmkt:ReportableSegments4Member5266082025-04-012025-12-31in-capmkt:ReportableSegments1Member5266082025-04-012025-12-31in-capmkt:ReportableSegments2Member5266082025-04-012025-12-31in-capmkt:ReportableSegments3Member5266082025-04-012025-12-31in-capmkt:ReportableSegments4Member5266082025-10-012025-12-31in-capmkt:ReportableSegments1Member5266082025-10-012025-12-31in-capmkt:ReportableSegments2Member5266082025-10-012025-12-31in-capmkt:ReportableSegments3Member5266082025-10-012025-12-31in-capmkt:ReportableSegments4Member5266082025-04-012025-12-31in-capmkt:ReportableSegments1Member5266082025-04-012025-12-31in-capmkt:ReportableSegments2Member5266082025-04-012025-12-31in-capmkt:ReportableSegments3Member5266082025-04-012025-12-31in-capmkt:ReportableSegments4Member5266082025-10-012025-12-31in-capmkt:ReportableSegments1Member5266082025-12-31in-capmkt:ReportableSegments1Member5266082025-10-012025-12-31in-capmkt:ReportableSegments2Member5266082025-12-31in-capmkt:ReportableSegments2Member5266082025-10-012025-12-31in-capmkt:ReportableSegments3Member5266082025-12-31in-capmkt:ReportableSegments3Member5266082025-10-012025-12-31in-capmkt:ReportableSegments4Member5266082025-12-31in-capmkt:ReportableSegments4Member5266082025-10-012025-12-31in-capmkt:ReportableSegments1Member5266082025-12-31in-capmkt:ReportableSegments1Member5266082025-10-012025-12-31in-capmkt:ReportableSegments2Member5266082025-12-31in-capmkt:ReportableSegments2Member5266082025-10-012025-12-31in-capmkt:ReportableSegments3Member5266082025-12-31in-capmkt:ReportableSegments3Member5266082025-10-012025-12-31in-capmkt:ReportableSegments4Member5266082025-12-31in-capmkt:ReportableSegments4Member5266082025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15266082025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares526608ELECTHERMNOTLISTEDINE822G01016ELECTROTHERM (INDIA) LIMITEDMain BoardEquity2025-04-012026-03-312026-02-112026-02-03INRCroresQuarterlyThird quarterMulti segment2026-02-1118:45:002026-02-1120:05:00Not applicable2025-10-012025-12-31UnauditedConsolidated903790000039000009041800000645240000004550000006200000004910000011120000018169000009504600000-4628000000-4628000000-107900000-1079000000-354900000000700000-354200000-7000000-361200000-3542000000-361200000012740000010-27.8-27.800-27.8-27.81. The above Consolidated Financial Results of Electrotherm (India) Limited (holding Company) (the “holding Company” and along with its subsidiary and joint venture the “Group”) for quarter and nine month ended on December 31, 2025 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on February 11, 2026.The Statutory Auditor of the holding Company has carried out a Limited Review of the Unaudited Financial Result for the Quarter & Nine Months ended on December 31, 2025. <BR> 2. (a) The Holding Company had fully repaid the principal amount of the loan and Interest in accordance with the settlement terms agreed with Rare Asset Reconstruction Limited (assignee of Dena Bank). The Holding Company is currently in the process of reconciling all loan accounts with Rare Asset Reconstruction Limited and obtaining the No Dues Certificate. Accordingly, the final accounting treatment of the said liability will be determined and given upon completion of the reconciliation process and receipt of the No Dues Certificate. <BR> On receipt of No Due certiicate and compliance of all terms and conditions of the settlement there will be reduction of debt by Rs. 23.44 Crores. <BR> (b) During the nine month ended on December 31, 2025, the holding Company had defaulted in repayment of the loan of the quarterly installment due in the month of September 2025 and Decembers 2025 amounting to Rs 16.00 crores and interest thereon amounting to Rs 2.68 crores, due to Invent Assets Securitisation & Reconstruction Private Limited (assignee of debts of Allahabad Bank (now Indian Bank) and Punjab National Bank). <BR> (c) In respect of the loan specified in para 2(b), as per the terms of the settlement of loans, any default thereof, would result in withdrawal of the settlement and reinstatement of all dues and liabilities under the original loan agreement. Since the holding company is in discussion with the lender for the reschedulement of such default, the Company anticipates that no further liability will arise under the original loan terms. <BR> (d) The impact of debt reduction arising from the settlements with the Asset Reconstruction Companies will be recognized upon full compliance with all conditions of the settlement agreement and completion of the requisite formalities. <BR> (e) 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 matter is currently pending for adjudication. <BR> (f) As of December 31, 2025, the Group has (a) Three loan accounts with banks and Asset Reconstruction Companies (ARCs) that have been classified as non-performing assets (NPAs) and for which no settlement agreements have been entered into; and (b) One loan account, as referred to in point 2(e) 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 and nine month ended on December 31, 2025, amounting approximately to Rs 49.55 crore and Rs 144.06 crore respectively, has not been provided in the books of accounts. As a result, the net loss of the Group for the quarter and nine month ended on December 31, 2025 is understated by Rs 49.55 crore and Rs 144.06 crore. Accordingly, the loan liabilities from banks and ARCs and the total retained earnings/(losses) as on December 31, 2025, are understated by Rs 1,356.71 crore. The Statutory Auditor has expressed a qualification in their limited review report with respect to the non-provision of interest on the said loan. <BR> 3. The holding Company had received an order dated December 18, 2025, under Section 74 of the SGST Act, 2017, read with Section 74 of the CGST Act, 2017 and Section 20 of the IGST Act, 2017, for the Financial Year 2018–19, raising a demand aggregating to Rs 0.52 crore (comprising Rs 0.16 crore towards tax, Rs 0.20 crore towards interest, and Rs 0.16 crore towards penalty). The demand has been raised on the grounds of availment of input tax credit in respect of certain suppliers whose registrations were cancelled prior to the date of invoice, suppliers identified as non-genuine or non-existent, and suppliers who failed to file GSTR-3B and discharge tax liability on invoices reported in GSTR-1. The holding Company believes that the said order is not sustainable in law and has accordingly filed an appeal on January 30, 2026 before the Deputy Commissioner of State Tax (Appeals). The matter is currently pending for adjudication and therefore it'seffect has not been given in the accounts.2025-04-012025-12-31UnauditedConsolidated255210000002510000025546100000188088000001900000-2045000001710000000202800000322300000511490000025956200000-4101000000-4101000000-115300000-1153000000-2948000000001900000-292900000-20900000-313800000-2929000000-313800000012740000010-22.99-22.9900-22.99-22.99Other Expenses1816900000Other Expenses5114900000Engineering & Technologies Division2873100000Special Steel Division6132800000Electric Vehicle Divion66300000Others0Engineering & Technologies Division7980700000Special Steel Division17374000000Electric Vehicle Divion285700000Others090722000002564040000034300000119400000903790000025521000000Engineering & Technologies Division-153600000Special Steel Division-241000000Electric Vehicle Divion-19400000Others300000Engineering & Technologies Division162000000Special Steel Division-290200000Electric Vehicle Divion-79700000Others600000-413700000-2073000004910000020280000000-462800000-410100000Engineering & Technologies Division7465700000Special Steel Division11901900000Electric Vehicle Divion323900000Others899000001978140000043670000020218100000Engineering & Technologies Division6953800000Special Steel Division14722200000Electric Vehicle Divion155500000Others288200000221197000000221197000004. Pursuant to the implementation of the New Labour Codes with effect from November 21, 2025 (the supporting Rules are yet to be notified), the group has assessed the incremental impact of these changes on the basis of the best information available, consistent with the guidance provided by the Institute of Chartered Accountants of India. On the basis of the estimation made by the group, the incremental impact on gratuity and compensated absences amounting to Rs. 9.35 crore have been provided in the financial results due to change in wage definition. The group continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would give appropriate accounting effect on the basis of such developments as needed. <BR> 5. 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. <BR> 6. 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. <BR> 7. (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. <BR> (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 February 2019, affecting the going concern of the said company. <BR> (c) 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 section 19 of the Recovery of Debts due to Banks and Financial Institutions Act 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 in November, 2021. 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. These conditions indicate the existence of a material uncertainty that may cast significant doubt about the Wholly Owned Subsidiary Company's ability to continue as a going concern. <BR> 8. Figure of previous period's have been regrouped, wherever considered necessary to make them comparable to current period figure. <BR> Remeasurement Gain/(Loss) on Defined Benefit Plans-7000000-7000000Remeasurement Gain/(Loss) on Defined Benefit Plans-20900000-209000000000-7000000-20900000