5266082026-04-012026-06-305266082026-06-305266082026-04-012026-06-30in-capmkt:OtherExpenses1Member5266082026-04-012026-06-30in-capmkt:ReportableSegments1Member5266082026-04-012026-06-30in-capmkt:ReportableSegments2Member5266082026-04-012026-06-30in-capmkt:ReportableSegments3Member5266082026-04-012026-06-30in-capmkt:ReportableSegments4Member5266082026-04-012026-06-30in-capmkt:ReportableSegments1Member5266082026-04-012026-06-30in-capmkt:ReportableSegments2Member5266082026-04-012026-06-30in-capmkt:ReportableSegments3Member5266082026-04-012026-06-30in-capmkt:ReportableSegments4Member5266082026-04-012026-06-30in-capmkt:ReportableSegments1Member5266082026-06-30in-capmkt:ReportableSegments1Member5266082026-04-012026-06-30in-capmkt:ReportableSegments2Member5266082026-06-30in-capmkt:ReportableSegments2Member5266082026-04-012026-06-30in-capmkt:ReportableSegments3Member5266082026-06-30in-capmkt:ReportableSegments3Member5266082026-04-012026-06-30in-capmkt:ReportableSegments4Member5266082026-06-30in-capmkt:ReportableSegments4Member5266082026-04-012026-06-30in-capmkt:ReportableSegments1Member5266082026-06-30in-capmkt:ReportableSegments1Member5266082026-04-012026-06-30in-capmkt:ReportableSegments2Member5266082026-06-30in-capmkt:ReportableSegments2Member5266082026-04-012026-06-30in-capmkt:ReportableSegments3Member5266082026-06-30in-capmkt:ReportableSegments3Member5266082026-04-012026-06-30in-capmkt:ReportableSegments4Member5266082026-06-30in-capmkt:ReportableSegments4Member5266082026-04-012026-06-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1iso4217:INRxbrli:pureiso4217:INRxbrli:shares526608ELECTHERMNOTLISTEDINE822G01016ELECTROTHERM (INDIA) LIMITEDMain BoardEquity2026-04-012027-03-312026-08-142026-08-05INRCroresQuarterlyFirst quarterMulti segment2026-08-1411:00:002026-08-1415:15:00Not applicable2026-04-012026-06-30UnauditedConsolidated913380000015100000914890000071374000000-633000000563700000397000001113000001841700000906080000088100000088100000019300000193000000688000000005000006930000014000007070000069300000014000000127400000105.445.44005.445.440001. 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. <br /> (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. <br /> (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. <br /> (e) As of June 30, 2026, the Group has the following outstanding loan accounts: <br /> • 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 <br /> • 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. <br /> 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. <br /> Other Expenses1841700000Engineering & Technologies Division2882500000Special Steel Division6246600000Electric Vehicle Division77100000Others09206200000724000009133800000Engineering & Technologies Division226400000Special Steel Division-80800000Electric Vehicle Division-18000000Others20000012780000039700000088100000Engineering & Technologies Division8310900000Special Steel Division11937700000Electric Vehicle Division304300000Others930000002064590000037470000021020600000Engineering & Technologies Division7671300000Special Steel Division14382900000Electric Vehicle Division145300000Others289200000224887000000224887000004. 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. <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 Taluka, Bellari District. Karnataka in February 2019, affecting the going concern of the said company. <br /> <br /> (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. <br /> 9. 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 Plans14000001400000001400000