Electrotherm (India) Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
ELECTHERM · price
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Electrotherm (India) Limited's board, on 29 July 2025, approved Q1 FY26 (ended 30 June 2025) results: standalone revenue fell to Rs 834.05 cr from Rs 1,059.38 cr a year ago, while net profit dropped sharply to Rs 27.67 cr from Rs 108.81 cr. EPS stood at Rs 21.72 vs Rs 85.41 last year. The board approved reappointment of Shailesh Bhandari as Executive Vice Chairman (Feb 2026–Jan 2031) and Suraj Bhandari as Managing Director (Nov 2025–Nov 2030), subject to shareholder approval. The authorised share capital is being reclassified to increase equity shares from 2.5 cr to 5.36 cr and remove the partly convertible preference shares, alongside an amendment to Article 109 of the AOA. The board noted the company paid fines imposed by NSE and BSE for earlier non-compliance with Regulation 17(1) regarding board composition, now rectified. Significant ongoing legal issues include a DRT judgment against the company (Rs 952+ cr in unprovided NPA interest), an adverse customs order (Rs 42.48 cr goods confiscated, Rs 18.15 cr duty demand, Rs 30.65 cr penalties), Enforcement Directorate proceedings under PMLA with frozen bank accounts and vehicle, and going-concern doubts at subsidiaries Hans Ispat and Shree Ram Electro Cast.
Sharp year-on-year decline in both revenue (~21%) and net profit (~75%) is a significant negative for shareholders, though the auditor's qualification reveals net profit may be overstated by Rs 35.64–46.50 cr due to unprovided NPA interest, and total liabilities may be understated by Rs 952–1,259 cr. Multiple adverse regulatory and legal outcomes (DRT judgment, customs order, ED attachment) pose material risks, and the going-concern flags on key subsidiaries add further uncertainty — investors should weigh these serious overhangs carefully.