Electrotherm Q2 swings to loss; auditor qualifies report, flags NPA interest

Going ConcernQualified OpinionPat NegativeRevenue DeclineContingent Liabilities IncreasedDebt Equity ThresholdResults View source PDF Explain this filing

ELECTHERM · price

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

-3.3%Reaction day

₹940.00

prior close

₹851.05

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-3.0% vs market

Iron & Steel Products peers, median of 93sector+0.0%-3.3% vs sector

On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 3.3 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

-4.4

10m

-3.6

15m

-3.7

30m

+2.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.3-0.3-3.0+0.0-3.3

Next day

-4.1+0.7-4.8+0.2-4.3

-3.2+0.6-3.8-0.2-3.0

-4.3+0.5-4.7-0.0-4.2

-5.3+1.1-6.4-0.1-5.2

-6.8+0.3-7.1-1.6-5.2

-5.0-0.2-4.8-2.6-2.4

15d

-9.6-2.2-7.3-3.1-6.5

-11.7-4.9-6.8-6.6-5.1

-2.4-7.5+5.0-8.2+5.8

-15.4-4.8-10.7-8.8-6.6

UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 93Pending

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

AI summary

Q2 FY26 standalone net loss of Rs 21.71 cr versus Rs 46.29 cr profit a year ago. H1 standalone revenue fell 12 percent to Rs 1,648 cr; Special Steel segment swung to a Rs 34.99 cr loss. Auditor qualified the review, noting about Rs 988.94 cr (standalone) and Rs 1,307.16 cr (consolidated) of unprovided interest on old NPA loans with Rare ARC and Invent ARC. Going concern doubts flagged for subsidiaries Hans Ispat and Shree Ram Electro Cast and JV Bhaskarpara Coal. Total equity remains negative.

Likely market impact

Qualified audit and going concern flags on three units raise risk; Rs 1,307 cr unprovided NPA interest remains a major liability overhang.