As of 6 Nov 2026, Electrotherm (India) is loss-making on a trailing 12-month basis, with a net loss of ₹36 Cr, so it has no P/E ratio. The share price is ₹669.20, 48% below its 52-week high. Sales grew 6.4% a year over 3 years. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹1,064 Cr. It is a small-cap company with a market cap of ₹853 Cr, ranked 61st of 150 Steel companies by market cap; the shares fell 41% over the past year.
- ₹611.80
- ₹669.20
- ₹611.80
- ₹608.40
- 41.9K
Health check
- ReturnsBehind
−41.2% over a year, better than 0 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthUnder pressure
Sales +6.4% a year over 3 years, but loss-making now.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags5 to check
Loss-making over the last twelve months.
Small cap
Defensive
Key metrics
- Market cap
- ₹853 Cr
- Small cap
- P/E
- n/a
- Industry 19.9
- Price to book
- −5.54
- Peers 2.28
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 23.4%
- ROCE
- n/a
- Peers 18.7%
- Debt to equity
- n/a
- Debt ₹1,064 Cr
- EPS (TTM)
- −₹28.63
- Face value ₹10
- OPM (TTM)
- 0.1%
- Net margin −1.0%
- Sales growth
- +9.5%
- Latest quarter vs a year ago
- Profit growth
- −75.0%
- Latest quarter vs a year ago
- Price to sales
- 0.23
- EV/EBITDA 134.1
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Loss-making over the last twelve months.
- Negative net worth: liabilities exceed assets.
- Quarterly profit down 75.0% on a year ago.
- 48% below its 52-week high.
- Interest coverage of only 1.9×.
About Electrotherm (India)
Electrotherm (India) Limited, an engineering and steel company, provides steel melting solutions worldwide. It operates through Engineering & Technologies, Special Steel, Electric Vehicle, and Others segments. The company designs and manufactures steel plants equipment, foundries, induction heating, and hardening equipment for heat treatment. It also engages in the manufacture of TMT bars and ductile iron pipes, including blast furnaces, sponge iron…
- Headquarters
- Ahmedabad
- Employees
- 2,824
- Sector
- Basic Materials
- ISIN
- INE822G01016
- Website
- electrotherm.com
Price range
- Avg volume (3M)
- 20.8K
- 1-year return
- minus 41.2%
- From 52-week high
- minus 47.6%
Peers · Steel
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEELJSW Steel | 1,357.10 | plus 0.11% | 3,31,265 | 11.7 | 12.2 | 18.7% | 17.7% | 0.62 | 3.6% | plus 14.7% |
| TATASTEELTata Steel | 186.30 | plus 2.36% | 2,32,397 | 21.1 | 9.1 | 11.3% | 15.2% | 0.89 | −1.6% | plus 1.5% |
| JINDALSTELJindal Steel | 1,165.00 | plus 1.31% | 1,18,594 | 41.5 | 14.9 | 7.5% | 15.9% | 0.42 | −13.1% | plus 6.4% |
| LLOYDSMELloyds Metals And Energy | 1,785.50 | minus 1.38% | 1,00,482 | 19.1 | 18.8 | 19.4% | 37.4% | 1.23 | 71.3% | plus 37.4% |
| SAILSteel Authority of India | 171.60 | minus 0.41% | 70,880 | 12.6 | 8.1 | 7.2% | 12.9% | 0.50 | 2.0% | plus 24.7% |
| NMDCNMDC | 70.40 | minus 0.01% | 61,894 | 8.3 | 6.2 | 28.4% | 30.0% | 0.19 | 22.0% | minus 5.2% |
| APLAPOLLOAPL Apollo Tubes | 2,185.30 | minus 0.41% | 60,677 | 46.3 | 32.7 | 28.0% | 8.2% | 0.17 | 12.6% | plus 23.3% |
| ELECTHERMElectrotherm (India) | 669.20 | plus 9.99% | 853 | – | 34.2 | – | 0.1% | – | 6.4% | minus 41.2% |
| Median of 7 peers | – | −0.01% | 1,00,482 | 19.1 | 12.2 | 18.7% | 15.9% | 0.50 | 3.6% | 14.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 834 | 814 | 904 | 1,140 | 913 | |
| 782 | 826 | 934 | 1,115 | 891 | |
| 51.8 | −12.1 | −30.6 | 24.5 | 22.4 | |
| 6.2% | −1.5% | −3.4% | 2.1% | 2.5% | |
| 0.8 | 1.4 | 0.4 | 2.5 | 1.5 | |
| 8.2 | 7.2 | 4.9 | 3.9 | 4 | |
| 10.6 | 10.5 | 11.1 | 11.1 | 11.1 | |
| – | – | – | 5.7 | – | |
| 33.8 | −28.5 | −46.3 | 17.9 | 8.8 | |
| 18.0% | 23.9% | 23.3% | 24.0% | 21.9% | |
| 27.8 | −21.6 | −35.4 | 13.6 | 6.9 | |
| 21.78 | -16.97 | -27.80 | 10.70 | 5.44 |
Profit & loss
- Sales CAGR 3Y
- +6.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3,064 | 4,272 | 4,110 | 3,688 | |
| – | +39.4% | minus 3.8% | minus 10.3% | |
| 2,960 | 3,850 | 3,674 | 3,644 | |
| 104 | 422 | 436 | 43.6 | |
| 3.4% | 9.9% | 10.6% | 1.2% | |
| 0.3 | 3.5 | 6.3 | 15.2 | |
| 66.4 | 59.2 | 44.3 | 23.4 | |
| 49.2 | 46.7 | 44.4 | 43.3 | |
| −0.3 | −1.8 | 55.7 | −15.2 | |
| −11.8 | 317 | 410 | −23.2 | |
| −0.1% | – | −7.8% | 31.3% | |
| −11.8 | 317 | 442 | −15.7 | |
| – | – | +39.3% | minus 103.5% | |
| -9.28 | 249.08 | 347.06 | -12.29 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 12.7 | 12.7 | 12.7 | 12.7 | |
| −1,109 | −794 | −172 | −167 | |
| 1,986 | 1,770 | 1,287 | 1,064 | |
| 862 | 852 | 790 | 1,103 | |
| 1,752 | 1,841 | 1,918 | 2,013 | |
| 663 | 687 | 720 | 792 | |
| 29.1 | 77.5 | 121 | 167 | |
| 0.5 | 0.7 | 0.7 | 0.7 | |
| 70.8 | 60.3 | 36.7 | 56.9 | |
| 989 | 1,016 | 1,040 | 996 | |
| 1,752 | 1,841 | 1,918 | 2,013 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 107 | 351 | 329 | 351 | |
| −2.5 | −67.9 | −72.2 | −99.5 | |
| −103 | −294 | −303 | −227 | |
| 1.6 | −10.8 | −46.1 | 24.8 | |
| −17.5 | −68.6 | −89.1 | −98.4 | |
| 89.6 | 283 | 240 | 253 |
Shareholding pattern
- Promoters29.83%
- Public70.17%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 29.83% | 70.17% | minus 0.04 | |
| 30 Jun 2026 | 29.87% | 70.13% | minus 0.03 | |
| 31 Mar 2026 | 29.90% | 70.10% | 0.00 | |
| 31 Dec 2025 | 29.90% | 70.10% | 0.00 | |
| 30 Sep 2025 | 29.90% | 70.10% | – |
Major shareholders
Filings & events
News
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