Audited Standalone and Consolidated Financial Results for the quarter and year ended on 31st March, 2026

Qualified audit opinionRevenue declinedNet loss reportedGoing-concern doubtContingent liabilities increasedExceptional itemResults View source PDF Explain this filing

ELECTHERM · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-9.1%Reaction day

₹850.60

prior close

₹874.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.1%-9.2% vs market

Iron & Steel Products peers, median of 97sector+0.7%-9.8% vs sector

On the reaction day the stock moved 9.2 pts less than Nifty Microcap 250 and 9.8 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

-4.8

10m

-5.7

15m

-5.2

30m

-4.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-9.1+0.1-9.2+0.7-9.8

Next day

-9.9+1.7-11.6+1.6-11.6

-8.1+2.4-10.5+0.8-8.9

-8.3+2.4-10.6+1.4-9.7

-0.8+1.7-2.5+0.6-1.4

+9.0+0.6+8.4-0.3+9.3

+17.8+1.9+15.8+0.2+17.6

15d

+33.0+4.9+28.1+1.3+31.6

+24.9+8.9+15.9+3.5+21.3

+20.8+7.5+13.2-0.2+21.0

+24.0+13.6+10.4-0.2+24.3

UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 97Pending

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

AI summary

Electrotherm reported a sharp deterioration in FY26 with standalone revenue declining 10.3% to Rs 3,692.09 Cr from Rs 4,115.37 Cr in FY25. The company swung to a net loss of Rs 16.18 Cr in FY26 from a net profit of Rs 428.60 Cr in FY25. Q4 FY26 revenue was Rs 1,139.99 Cr with Q4 PAT of Rs 13.36 Cr, down from Rs 185.45 Cr in Q4 FY25. The auditor issued a qualified opinion due to non-provision of Rs 1,066.12 Cr of interest on NPA accounts (standalone) and Rs 1,407.64 Cr (consolidated), which understated losses and liabilities. The company has negative total equity of Rs 109.06 Cr (standalone) and Rs 153.88 Cr (consolidated). Multiple subsidiaries and joint ventures face going concern issues due to DRT proceedings, asset auctions, and de-allocation of coal block. Income tax demands of Rs 76.64 Cr are pending appeals.

Likely market impact

The qualified auditor opinion and negative equity position indicate significant financial distress. Investors should be cautious as the company faces potential reinstatement of Rs 1,066+ Cr in liabilities if ARC settlements are withdrawn, and multiple legal proceedings remain pending.