Electrotherm Q3 loss Rs 35 Cr, auditor flags qualified opinion

Qualified audit opinionGoing-concern doubtNet loss reportedRevenue declinedEBITDA margin compressionResults View source PDF Explain this filing

ELECTHERM · price

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Price reactionminutes from the announcement price · days from the prior close

-4.9%Reaction day

₹795.00

prior close

₹789.35

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.5%-4.4% vs market

Iron & Steel Products peers, median of 91sector-0.5%-4.4% vs sector

On the reaction day the stock moved 4.4 pts less than Nifty Microcap 250 and 4.4 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-6.3

10m

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15m

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30m

-6.9

Sessions after the filingfrom the prior close

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Reaction day

-4.9-0.5-4.4-0.5-4.4

Next day

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UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 91Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Q3 standalone net loss Rs 35.50 Cr vs profit Rs 88.05 Cr last year. Revenue down 16% to Rs 903.79 Cr. Nine-month loss Rs 29.54 Cr vs profit Rs 243.15 Cr. Auditor issued a qualified opinion on non-provision of interest on NPA loans, understating liabilities by about Rs 1,027 Cr standalone and Rs 1,357 Cr consolidated. Going concern flagged for three units: Hans Ispat, Shree Ram Electrocast, and Bhaskarpara Coal JV. G.K. Choksi named internal auditor from April 2026.

Likely market impact

Sharp swing to losses, qualified audit, and going concern flags for subsidiaries raise serious financial health concerns for shareholders.

By the numbersConsolidated · Q3 FY26 vs Q3 FY25

	Q3 FY26	Q3 FY25	Change
Revenue	₹903.8 Cr	₹1,081 Cr	−16.4%
Operating profit	−₹46.67 Cr	₹84.81 Cr	−155.0%
Profit after tax	−₹35.42 Cr	₹88.34 Cr	−140.1%
EBITDA margin	-3.4%	9.9%	−13.3 pp

From the company's XBRL filing, not from the text above. Operating profit = profit before tax − exceptional items − other income. EBITDA = profit before tax + finance costs + depreciation − other income.