MarketFriction

Electrotherm (India) Ltd

NSE ELECTHERM · BSE 526608 · Iron & Steel Products
₹743.60 -3.96%
NSE close2026-10-01
52 week range551.00 - 1,277.00
Market cap₹996 Cr.
Price band 10% Delivery 53.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales985.151,137.331,217.571,059.38813.681,081.231,161.08834.05814.26903.791,139.99913.38
Expenses894.381,011.371,086.71927.13746.36973.751,096.62782.29826.39934.431,115.49890.98
Operating Profit90.77125.96130.86132.2567.32107.4864.4651.76-12.13-30.6424.5022.40
OPM %9.21%11.08%10.75%12.48%8.27%9.94%5.55%6.21%-1.49%-3.39%2.15%2.45%
Other Income2.130.331.730.8814.643.46109.180.771.350.398.251.51
Interest13.327.5517.6113.7511.6011.998.188.197.184.913.853.97
Depreciation12.0611.6610.9710.6010.9510.6812.1610.5810.5311.1211.0511.13
Profit before tax67.52107.08104.01108.7859.4188.27153.3033.76-28.49-46.2817.858.81
Tax %0.00%0.00%0.00%0.00%0.00%0.00%-20.97%17.98%-23.90%-23.31%23.98%21.91%
Net Profit67.53107.08104.03108.8459.4788.34185.5027.75-21.62-35.4213.636.93
EPS in Rs52.9984.0381.6485.4146.6769.33145.5721.78-16.97-27.8010.705.44
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,1012,2592,9274,0403,2122,5182,8313,0744,2724,1153,6923,771
Expenses2,1332,1982,7793,7373,0832,2982,7452,9403,8523,7443,6493,767
Operating Profit-326114930312922086134419372434
OPM %-1.5%2.7%5%8%4.0%9%3.0%4.4%10%9%1.2%0.1%
Other Income819204947-305128112
Interest145381954456760462420
Depreciation154148149143134121884947444344
Profit before tax-180-9131422449-40-12317410-23-48
Tax %0%0%1%0%0%0%0%0%0%-8%-31%
Net Profit-180-9131422449-40-12317442-16-36
EPS in Rs-156.72-71.622.32111.3218.9138.84-31.67-9.28249.03346.98-12.29-28.63
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth6%8%6%-3%
Compounded Profit Growth7%%%-117%
Stock Price CAGR17%46%89%-23%
Return on Equity%%%%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital111113131313131313131313
Reserves-1,085-1,265-1,379-1,375-1,235-1,106-1,055-1,095-1,109-794-172-167
Borrowings3,1973,1863,0732,8512,6162,2942,2342,0871,9861,7701,2871,064
Other Liabilities3543685126717757207057418628527901,103
Total Liabilities2,4772,3002,2192,1602,1691,9201,8971,7451,7521,8411,9182,013
Fixed Assets1,4571,3211,1181,027949825738698638613601626
CWIP2121221729282733264498138
Investments027777788888
Other Assets9989571,0731,1081,1841,0601,1241,0071,0811,1771,2121,240
Total Assets2,4772,3002,2192,1602,1691,9201,8971,7451,7521,8411,9182,013
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity725258161344181225179107351329351
Cash from Investing Activity-5-42-25-46-675-62-14-2-68-72-99
Cash from Financing Activity-46-12-52-106-262-203-104-189-103-294-303-227
Net Cash Flow21-1-19915-1758-242-11-4625
Free Cash Flow63352611126616818413990283273253
CFO/OP-23%-166%97%109%114%140%102%210%81%85%89%818%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days574649463036402225192326
Inventory Days7368867870781109691767777
Days Payable476690826072936860526065
Cash Conversion Cycle834846414143585056424038
Working Capital Days-245-165-127-113-80-87-142-202-192-81-57-108
ROCE %-20%-9%-4%1%13%2%9%0%10%40%32%0%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters31.04%31.04%31.04%31.04%30.69%29.90%29.90%29.90%29.90%29.90%29.90%29.86%
FIIs4.94%4.94%4.95%4.99%4.81%4.61%4.54%4.60%5.06%5.89%5.86%9.28%
DIIs0.08%0.08%0.08%0.08%0.08%0.08%0.39%1.01%0.97%0.85%0.80%0.78%
Public63.94%63.94%63.93%63.89%64.43%65.42%65.17%64.49%64.07%63.36%63.45%60.09%
No. of Shareholders9,0577,9167,4867,8068,7308,7569,2008,7039,0109,4459,6358,907

Fundamentals

Market Cap₹ 996 Cr.
Current Price₹ 778
Book Value₹ -121
ROCE0.45 %
ROE%
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-3%
Compounded Profit Growth (TTM)-117%
Consolidated figures.
Valuation
Market capRs 948 Cr
Enterprise valueRs 1,920 Cr
Price to book-6.16x
Price to sales0.25x
EV / EBITDA122.82x
EV / sales0.51x
Price to cash flow2.70x
Earnings yield-3.85%
P/E, 3-year average2.30x
P/B, 3-year average-4.08x
P/E, 5-year average2.30x
P/B, 5-year average-2.49x
Profitability
Operating margin (excl. other income)1.16%
Operating margin (incl. other income)1.20%
EBITDA margin0.41%
Pre-tax margin-1.28%
Net profit margin-0.97%
Net margin, latest quarter0.76%
ROE10.02%
ROCE0.10%
ROA-0.80%
ROE, 3-year average-39.29%
ROCE, 3-year average27.76%
ROA, 3-year average13.46%
ROE, 5-year average-22.60%
ROCE, 5-year average17.91%
ROA, 5-year average7.50%
ROIC (approx.)-2.37%
Tax rate31.30%
Other income / net worth-0.90%
Growth
Sales growth (latest year)-10.29%
Profit growth (latest year)-103.54%
Sales CAGR, 3 years6.30%
Sales CAGR, 5 years7.95%
Sales growth QoQ-19.88%
Profit growth QoQ-49.16%
Sales growth YoY (latest quarter)9.51%
Profit growth YoY (latest quarter)-75.03%
Per share
EPS (TTM)Rs -28.63
EPS (latest year)Rs -12.29
EPS (latest quarter)Rs 5.44
EPS, 3-year averageRs 194.57
EPS, 5-year averageRs 108.55
Book value per shareRs -120.76
Sales per shareRs 2,959.64
Cash flow per shareRs 275.57
Free cash flow per shareRs 198.54
Efficiency
Asset turnover1.83x
Fixed asset turnover5.90x
Inventory turnover5.61x
Inventory days65 days
Debtor days26 days
Debtors turnover14.25x
Creditor days65 days
Cash conversion cycle38 days
Working capital days-108 days
Leverage
Total debtRs 1,064 Cr
Cash and bankRs 91 Cr
Net debtRs 972 Cr
Debt to equity-6.91x
Net debt / EBITDA62.20x
Interest coverage-1.42x
Current ratio (filing 2026-03-31)0.53x
Quick ratio (filing 2026-03-31)0.26x
Trade payables (filing 2026-03-31)Rs 481 Cr
Owners' fund to total sources-7.65%
Debt to assets52.84%
Cash flow
Cash from Operating Activity (latest year)Rs 351 Cr
Cash from Investing Activity (latest year)Rs -99 Cr
Cash from Financing Activity (latest year)Rs -227 Cr
Net Cash Flow (latest year)Rs 25 Cr
Free cash flow (latest year)Rs 253 Cr
FCFE (approx.: FCF + change in debt)Rs 30 Cr
Cash from ops / profit, 5 years1.91x
Sales to cash flow10.51x
Statement figures
Net sales (TTM)Rs 3,771 Cr
Net sales (latest year)Rs 3,692 Cr
Sales (latest quarter)Rs 913 Cr
Operating profit excl. other income (latest year)Rs 43 Cr
Operating profit (latest quarter)Rs 22 Cr
Other income (TTM)Rs 12 Cr
EBITDA (TTM)Rs 16 Cr
PBDT (TTM)Rs -4 Cr
Profit before tax (TTM)Rs -48 Cr
Tax (latest year)Rs -7 Cr
Net profit (TTM)Rs -36 Cr
Net profit (latest year)Rs -16 Cr
Net profit (latest quarter)Rs 7 Cr
Depreciation (TTM)Rs 44 Cr
Depreciation (latest quarter)Rs 11 Cr
Interest (TTM)Rs 20 Cr
Cost of goods sold (latest year)Rs 3,203 Cr
Total expenditure (latest year)Rs 3,649 Cr
Total income (latest year)Rs 3,693 Cr
Share capitalRs 13 Cr
ReservesRs -167 Cr
Shareholders' fundsRs -154 Cr
Total assetsRs 2,013 Cr
Net blockRs 626 Cr
Capital work in progressRs 138 Cr
InvestmentsRs 8 Cr
ReceivablesRs 259 Cr
InventoryRs 571 Cr
Other liabilitiesRs 1,103 Cr
Shares outstanding (crore)1.27
Ownership
Promoter holding29.86% (-0.04 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodELECTHERMNifty 50Difference
1 week-16.2%-2.8% -13.5 pts
1 month-25.4%-6.8% -18.6 pts
3 months-38.0%-7.6% -30.4 pts
6 months+33.9%+0.4% +33.5 pts
1 year-29.4%-9.9% -19.5 pts
2 years-23.2%-13.6% -9.6 pts
3 years+547.5%+14.2% +533.3 pts
5 years+524.3%+27.9% +496.5 pts

Red flags

F-score 4 of 8
seriousNegative equity Shareholders' equity is negative
lookRegulator order or action Regulator order or action 2026-03-31: Electrotherm (India) Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹913 Cr +9.5% vs Jun 2025. Net profit ₹7 Cr -75.0%.
Against our estimate for Jun 2026: sales +20.5%, profit +225.3% in line. Our estimate for Sep 2026: sales Rs 846 Cr, profit Rs -8 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2015-09-23 Annual General Meeting
2014-09-24Annual General Meeting
2013-12-23Annual General Meeting
2012-12-20Annual General Meeting
2011-09-22Annual General Meeting
2010-09-16Annual General Meeting And Dividend Rs.2.50 Per Share
2009-09-03Agm/Div-Rs.2.50 Per Share
2008-06-12Agm/Dividend - 25%
DateTypeWhat it says
2026-09-29Shareholder meetingVoting results.
2026-09-28Shareholder meetingProceedings of 40th Annual General Meeting held on 28, September, 2026
2026-09-26General UpdatesUpdates Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-09-03Shareholder meetingNotice of 40th Annual General Meeting to be held on Monday, 28th September, 2026
2026-08-26AppointmentAppointment of Mr. Rajesh Bhalchandra Patel (DIN: 02735027) as an Additional Director in the category of Non-Executive Non-Independent Director of th...
2026-08-26AppointmentAppointment of Mr. Davesh Khandelwal (DIN: 02997266) as an Additional Director and Whole Time Director of the company w.e.f. August 26, 2026.
2026-08-26Board meeting outcomeOutcome of Board Meeting held on 26th August, 2026.
2026-08-14AllotmentAllotment of 1,09,50,000 6% Non-Cumulative Redeemable Preference Shares of Rs. 10/- each, to the existing preference shareholders pursuant to to Hon b...
2026-08-14Board meeting outcomeElectrotherm (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-04General UpdatesGeneral Updates - Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-07-30Defaults on Payment of InterDisclosure of default on payment of interest / repayment of principal amount on loans from Banks / Financial Institutions
2026-07-22UpdatesUpdate - NCLT Order - Issuance and allotment of Preference Shares under Section 55(3) of the Companies Act, 2013.
2026-07-20AppointmentAppointment of Mr. Harish Mukati (DIN: 03214401), Chief Executive Officer (Steel Division) of the Company as an Additional Director and Whole Time Di...
2026-07-20AppointmentAppointment of Mr. Raj Kumar Bansal (DIN: 00122506) as an Additional Director in the category of Non-Executive Independent Director of the Company.
2026-07-20Board meeting outcomeOutcome of Board Meeting held on 20th July, 2026.
2026-06-03Price movementSignificant movement in price has been observed in Electrotherm (India) Limited. The Exchange, in order to ensure that investors have latest relevant ...
2026-06-03Price movementSignificant movement in price has been observed in Electrotherm (India) Limited. The Exchange, in order to ensure that investors have latest relevant ...
2026-05-21AppointmentAppointment of M/s. V. H. Savaliya & Associates, Cost Accountants as Cost Auditor of the Company for the Financial Year 2026-27.
2026-05-21Board meeting outcomeElectrotherm (India) Limited has submitted to the Exchange, the Audited Standalone and Consolidated Financial Results for the quarter and year ended 3...
2026-05-21Disclosure under SEBI TakeovMukesh Bhandari has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial A...
2026-05-04Disclosure under SEBI TakeovElectrotherm (India) Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (...
2026-04-30Defaults on Payment of InterDisclosure of default on payment of interest / repayment of principal amount on loans from Banks / Financial Institutions
2026-04-29Price movementSignificant movement in price has been observed in Electrotherm (India) Limited. The Exchange, in order to ensure that investors have latest relevant ...
2026-04-28Price movementSignificant movement in price has been observed in Electrotherm (India) Limited. The Exchange, in order to ensure that investors have latest relevant ...
2026-03-31Regulatory actionAction(s) taken or orders passed
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-08-18NCLTM/s. Electrotherm (India) Limited. Vs ET Infra Delevelopers Private Limited.
2021-08-16NCLTVs Electrotherm (India) Ltd & Ors.
2021-08-16NCLTVs Electrotherm (India) Ltd & Ors.
2021-07-09NCLTM/s. Electrotherm (India) Limited. Vs ET Infra Delevelopers Private Limited.
2021-07-05NCLTVs Electrotherm (India) Ltd & Ors.
2021-07-05NCLTVs Electrotherm (India) Ltd & Ors.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
EPS in the scrip is zero (4 trailing quarters)High low price variation greater than 100perc in previous 6 monthsHigh low price variation greater than 75perc in previous 3 months

Quick answers

What is the market cap of Electrotherm (India) Ltd?

Electrotherm (India) Ltd (ELECTHERM) has a market capitalisation of Rs 996 Cr. at the 2026-10-01 close.

What were Electrotherm (India) Ltd's latest quarterly results?

In the Jun 2026 quarter, Electrotherm (India) Ltd sales was Rs 913 Cr (+9.5% vs Jun 2025) and net profit was Rs 7 Cr.

What is the 52-week high and low of Electrotherm (India) Ltd?

The 52-week high is Rs 1,277.00 and the 52-week low is Rs 551.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03