ELECTHERMIndustrials

Electrotherm (India) Limited

Iron & Steel Products · ISIN INE822G01016 · BSE 526608 · NSE EQ · FV ₹10
Last price
₹933
-0.90%today
What this company does

Electrotherm (India) Limited operates in Iron & Steel Products, part of the Industrials sector. It booked ₹913 cr of revenue in its latest quarter (Q1 FY27) and kept 0.8% of sales as profit.

Electrotherm (India) Limited (“Electrotherm”) a reputed engineering and steel company, remains a most trusted brand for steel melting equipment. The company’s core philosophy in business is customer satisfaction through high-quality products and excellent customer service has always put its products on preferred segment.
In the report:
46out of 100
Equitytale Health Score
Mixed

Healthier than 46% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 60–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
31

At close. Not part of the score.

Profitability & returns14

How much profit it earns on the money it employs

Balance sheet65

How much it owes, and whether earnings cover the interest

Cash quality73

Whether reported profit actually arrives as cash

Growth & consistency54

Whether sales and profit have grown, and how steadily

Valuation24

What today's price implies, against our models or its peers

Governance & risk65

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 10% vs last year
Virtually debt-free
Turns profit into real cash
Watch-outs
! Thin 0.8% net margin
! Profit down 75% vs last year
! 7.9% of promoter stake pledged

What if I invest in ELECTHERM?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 13% a year, it would become
₹23.63 lakh

The slider starts at 13%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹933 -0.90%
latest close · 2026-09-17
1-year return
+663.2%
52-wk low ₹8552-wk high ₹1,097
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio42.9High
LowAverageHigh
EV / EBITDA23.2High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Net margin0.8%Thin
ThinDecentStrong
EBITDA margin2.6%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover3.2×Okay
RiskyOkayStrong ▸5×
Current ratio0.53Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹1,188 cr
Book value
₹-121
EPS
₹5.44
latest quarter
Net debt
₹1,026 cr
owes more than its cash
Enterprise value
₹2,214 cr
EBITDA
₹96 cr
annualised
EBIT
₹51 cr
annualised
Operating margin
1.4%
Return on assets
1.4%
Earnings yield
2.33%
P/S
0.33
Sales / share
₹2,867.8
Tax rate
21.9%
Face value
₹10
Shares
1.3 cr
Working capital
₹-1,004 cr
Current assets
₹1,122 cr
Current liabilities
₹2,126 cr
Delivery %
73.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹404₹404, midpoint ₹404

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹913 cr
Other Income₹2 cr
Total Income₹915 cr
Cost of Materials₹714 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-63 cr
Employee Benefit Expense₹56 cr
Finance Costs₹4 cr
Depreciation & Amortisation₹11 cr
Other Expenses₹184 cr
Total Expenses₹906 cr
Profit before Tax₹9 cr
Tax Expense₹2 cr
Share of JV / Associates₹5 L
Net Profit₹7 cr
Net margin on total income0.8%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹650 cr71.1%
Employee benefit expense₹56 cr6.2%
Finance costs₹4 cr0.4%
Depreciation & amortisation₹11 cr1.2%
Other expenses₹184 cr20.1%
Tax expense₹2 cr0.2%
Profit for the period₹7 cr0.8%
Total income ₹915 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue904 cr1,140 cr913 cr
Total income904 cr1,143 cr915 cr
Expenses950 cr1,130 cr906 cr
Profit before tax-46 cr18 cr9 cr
Tax-11 cr4 cr2 cr
Net profit (owners' share)-35 cr14 cr7 cr
Net margin (owners' share, on revenue)-3.9%1.2%0.8%
EPS (₹)-27.8010.705.44
YoY (latest quarter): total income +9.6% · net profit -75.0%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹2,013 cr
Shareholder equity
₹-154 cr
parent shareholders
Total debt
₹1,060 cr
Cash
₹34 cr
Cash flow · H1 FY26
Operating
₹167 cr
Investing
₹-21 cr
Financing
₹-136 cr
Peer comparison
Iron & Steel Products · by market value
CompanyPriceMarket capP/E
Welspun Corp Limited₹2,460₹64,903 cr15.5
APL Apollo Tubes Limited₹2,149₹59,664 cr56.7
Shyam Metalics and Energy Limited₹1,077₹29,982 cr21.4
Ratnamani Metals & Tubes Limited₹2,703₹18,943 cr57.6
Jindal Saw Limited₹291₹18,622 cr44.7
Usha Martin Limited₹496₹15,122 cr26.6
Godawari Power And Ispat limited₹238₹14,709 cr16.6
Gallantt Ispat Limited₹538₹12,974 cr26.2
Maharashtra Seamless Limited₹720₹9,651 cr9.1
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
7.9% pledged
Promoter
29.9%
FII / Foreign
9.3%
DII / Domestic
0.8%
Retail / others
60.1%
Promoter stake down 1.2% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtSuraj Shailesh Bhandari · Promoter Group80,00010 Sep 26
SoldBhandari Rakesh · Promoter Group80,00010 Sep 26
SoldMukesh Bhandari · Promoters8.10 L · ₹629 Mar 25
Bulk / block deals
BoughtRADIANT GLOBAL FUND-CLASS B PARTICIPATING SHARES · NSE2.16 L @ ₹951.8311 Sep 26
Sold8 SQUARE CAPITAL · NSE2.16 L @ ₹951.8211 Sep 26
short · NSE1,0443 Jul 26
Stake changes
BothMr. Shailesh Bhandari · promoter→ 13.01% · 8.10 L29 Mar 25
BothMr. Mukesh Bhandari · promoter→ 0.00% · 8.10 L29 Mar 25
BothMrs. Reema Bhandari · promoter→ 1.58% · 2.02 L29 Mar 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 10 Sep 2025
See the official result
1
To consider and adopt audited standalone and consolidated financial statements of the Company for the financial year ended on 31st March, 2025 together with report of Board of Directors and Auditors’ Report thereon
Backed by 100% of shareholders other than promotersneeded 50%
11.15 L votes for, 1 against · 0% of mutual funds and other big investors said no
2
To appoint a Director in place of Mr. Shailesh Bhandari (DIN: 00058866), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
11.15 L votes for, 1 against · 0% of mutual funds and other big investors said no
3
To ratify the remuneration of the Cost Auditor for the financial year ending on 31st March, 2026
Backed by 100% of shareholders other than promotersneeded 50%
11.15 L votes for, 150 against · 0% of mutual funds and other big investors said no
4
To approve the appointment of M/s. Bharat Prajapati & Co., Practising Company Secretaries as a Secretarial Auditor for five consecutive years
Backed by 100% of shareholders other than promotersneeded 50%
11.15 L votes for, 21 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 14 named members
owning 29.9% between them · as of 2026-06-30
Western India Speciality Hospital Limited7.65%
Shailesh Bhandari6.66%
Mukesh Bhandari6.35%
Bhandari Rakesh3.35%
Ritu Nagesh Bhandari1.69%
Reema Bhandari1.58%
Nagesh Bhanwarlal Bhandari1.53%
Suraj Shailesh Bhandari0.64%
Business done with them
FY2025 · 1 of the group
The company paid ₹11 L to companies in the promoter group last year — about 0.0% of its ₹4,115 cr revenue.
Mr. Shailesh Bhandari
Other payments to them · Rent Expenses, Interest Expenses on Lease Liability and Closing Balance
also owns 6.66% of the company
₹11 L
company paid

The company also transacted with 12 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.