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Electrotherm (India) Ltd (ELECTHERM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526608 NSE: ELECTHERM Steel & Iron Products | Small Cap | Electrotherm (India) Share Price

₹711.25 24.70 (3.60%)

As on 14-Oct'26 16:59

Electrotherm (India) Ltd (ELECTHERM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526608 NSE: ELECTHERM Steel & Iron Products | Small Cap | Electrotherm (India) Share Price

₹711.25 24.70 (3.60%)

As on 14-Oct'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹872 Cr.
Current Price
₹711.3
52-Week Low / High
₹550 / 1,278
TTM EPS
₹-28.6
TTM Sales
₹3,771 Cr.
Book Value per Share
₹-115.4
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
23.8
Price to Book (P/B)
-5.93
Lower than its 5-year historical median
Price to Sales (P/S)
0.23
Higher than its 5-year historical median
EV/EBITDA
185.90
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
0.10%
Underperforms industry median
Return on Assets (ROA)
-0.82%
Operating Profit Margin
1%
Net Profit Margin
-0.43%
Gross Profit Margin
0.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-10.29%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-87.96%
Net Profit Growth (1 Year)
-
-103.6%
Asset Quality
Promoter Holding
29.87%
Pledged shares (%) of Promoter's holding (%)
7.88%
Reserves
₹-160 Cr.
Equity
₹12.7 Cr.
Face Value
₹10
All Time Low / High
₹2.45 / 1455.00

Electrotherm (India) stock performance

Key Ratios
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Quality

Somewhat Good
Check detailed performance

Valuation

Somewhat Undervalued

Check Valuation charts

Price Trend

Weak
Check Price chart
Q.1 Is Electrotherm (India) Ltd a good quality company?
Electrotherm (India) Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

View More

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

View More
How does Electrotherm (India) Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Electrotherm (India) Ltd vs industry peers?
Electrotherm (India) Ltd revenue CAGR is 7.95%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Electrotherm (India) Ltd?
Promoters hold 29.87% of the Electrotherm (India) Ltd, with 7.88% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of Electrotherm (India) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 14.5% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Electrotherm (India) Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ-4.1%1%12.5%4.9%9.2%-0.8%-1.1%42.1%43%0.1%-
Value Creation
Index ⓘ		NA-0.9-0.1-0.7-0.3NANA2.02.1NA-

Growth Parameters ⓘ
Sales ⓘ1,9702,7353,4622,8362,5272,8303,0744,2724,1153,6923,771
Sales YoY Gr.-38.8%26.6%-18.1%-10.9%12%8.6%39%-3.7%-10.3%-
Adj EPS ⓘ-54.810107.55.951.7-42.5-41.7250.3276.1-10.8-29
YoY Gr.-NA973.6%-94.5%780.1%-182.3%NANA10.3%-103.9%-
BVPS (₹) ⓘ-998.6-989.4-879.9-762.5-711.8-754.1-815.9-566.9-89-85.6-80.2
Adj Net
Profit ⓘ		-69.812.81377.565.8-54.2-53.1319352-13.8-37
Cash Flow from Ops. ⓘ64.4155336177225179106351328351-
Debt/CF from Ops. ⓘ45.917.77.512.59.511.117.84.83.72.8-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ7.2%7.9%6.3%-10.3%
Adj EPS ⓘNA-173.2%NA-103.9%
BVPSⓘNANANANA
Share Price 14.8% 38.1% 70.6% -36%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		5.6-1-11.5-0.7-75.85.3-36.2-84.212.435
Op. Profit
Mgn % ⓘ		3.95.78.34.79.13.44.49.8710.1
Net Profit
Mgn % ⓘ		-3.50.540.32.6-1.9-1.77.58.6-0.4-1
Debt to
Equity ⓘ		-2.3-2.2-2.2-2.3-2.4-2.1-1.8-2.3-10.8-9.1-
Working Cap
Days ⓘ		163137114138150130116889610753
Cash Conv.
Cycle ⓘ		56464153524740303134-34

Valuation of Electrotherm (India) - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *7.587.587.677.877.877.877.877.877.877.88
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales2,2592,9274,0403,2122,5182,8313,0744,2724,1153,692
Operating Expenses ⓘ + 2,2032,7793,7533,0962,2982,7452,9403,8523,8013,654
Manufacturing Costs435341467428329349344470488493
Material Costs1,4932,0982,9152,2841,6672,0822,2952,9732,8072,710
Employee Cost 128143164154135137145161199218
Other Costs ⓘ 146197205230167177155247306233
Operating Profit ⓘ 561492881162208613441931538
Operating Profit Margin (%) 2.5%5.1%7.1%3.6%8.7%3.1%4.4%9.8%7.6%1.0%
Other Income ⓘ + 209362647756510
Exceptional Items ⓘ -14003600-360120-4
Interest ⓘ 453819544567604624
Depreciation ⓘ 1481491431341218849474443
Profit Before Tax ⓘ -9131422449-40-12317410-23
Tax ⓘ 00000000-32-7
Profit After Tax -9131422449-40-12317442-16
PAT Margin (%) -4.0%0.1%3.5%0.8%2.0%-1.4%-0.4%7.4%10.7%-0.4%
Adjusted EPS (₹)-71.62.3111.318.938.9-31.7-9.3249.1347.1-12.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + -1,366-1,362-1,222-1,093-1,042-1,082-1,096-781-159-154
Share Capital ⓘ 12.7412.7412.7412.7412.7412.7412.7412.7412.7412.74
Reserves ⓘ -1,379-1,375-1,235-1,106-1,055-1,095-1,109-794-172-167
Debt +2,0741,8491,5951,3021,04639527863938635
Long Term Debt1,8281,6071,4431,2731,0133622456073530
Short Term Debt24724215229333333333335
Minority Interest0000000000
Trade Payables367475476449423387376427457481
Others Liabilities ⓘ 1,1441,1971,3191,2621,4712,0462,1941,5551,2021,612
Total Liabilities ⓘ 2,2192,1602,1691,9201,8971,7451,7521,8411,8861,973

Fixed Assets

Net Fixed Assets ⓘ +1,1181,027949825738698638613601626
Gross Block1,2661,3241,3891,3961,4291,4761,5021,5241,5261,595
Accumulated Depreciation148298440571691779865911925969
CWIP ⓘ 221729282733264498138
Investments ⓘ 7777788888
Inventories353448563490503546571618593571
Trade Receivables303369334316277167208224257259
Cash Equivalents 40546347977273627291
Others Assets ⓘ 377237224206245222229273258279
Total Assets ⓘ 2,2192,1602,1691,9201,8971,7451,7521,8411,8861,973
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 58161344181225179107351329351
PBT ⓘ -9131422449-40-12317410-23
Adjustment ⓘ 158186147115172130149113-2871
Changes in Working Capital ⓘ -8-275543492-28-76-50303
Tax Paid ⓘ -1-1-1-10-2-2-3-30
Cash Flow From Investing Activity ⓘ + -25-46-675-62-14-2-68-72-99
Capex -31-50-78-13-41-40-17-68-56-98
Net Investments 2-5514-252412-2-19-6
Others ⓘ 4963333235
Cash Flow From Financing Activity ⓘ + -52-106-262-203-105-189-103-294-303-227
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ -48-101-230-179-62-148-100-21600
Interest Paid ⓘ -4-5-32-22-41-41-3-78-63-26
Dividend Paid ⓘ -0-000000000
Others ⓘ 000-2-2-1-1-1-239-201
Net Cash Flow ⓘ -19915-1758-242-11-4625
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
ROCE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Asset Turnover Ratio1.081.361.871.571.321.551.762.382.211.92
PAT to CFO Conversion(x)N/A53.672.427.544.59N/AN/A1.110.74N/A
Working Capital Days
Receivable Days42.5041.2031.8036.904328.6022.3018.5021.3025.40
Inventory Days46.8049.1045.7059.907267.7066.3050.8053.6057.30
Payable Days76.8073.3059.6073.9095.4070.9060.7049.4057.5063.20

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Electrotherm (India) Ltd FAQs

The current trading price of Electrotherm (India) on 14-Oct-2026 16:59 is ₹711.2.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Oct-2026 the market cap of Electrotherm (India) stood at ₹871.5 Cr

The latest P/E ratio of Electrotherm (India) as of 13-Oct-2026 is 0.00.

The latest P/B ratio of Electrotherm (India) as of 13-Oct-2026 is -8.53.

The 52-week high of Electrotherm (India) is ₹1,278.4 and the 52-week low is ₹550.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Electrotherm (India) is ₹3,771 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Electrotherm (India) Ltd is a average quality company.

The key valuation ratios of Electrotherm (India) Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Electrotherm (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Electrotherm (India) Ltd

Electrotherm (India) Limited, an ISO 9001:2015 certified, public limited company, was founded in 1983. It caters to steel and foundry industry, transformer manufacturing, steel making, ductile iron pipe making, manufacturing of battery operated vehicles, renewable energy, transmission line tower and education.

The company has been dedicated to developing the core sectors of the Indian economy through Greenfield and Brownfield investments. Controlling a number of world-class assets diversified across the core sectors.

Business area of the company

The company is engaged in the manufacturing of Induction Furnace, Casting Machines, Transformers, Sponge and Pig Iron, Ferrous and Non-Ferrous Billets/ bars/ Ingots, Duct Iron Pipes, Transmission Line Towers, Battery Operated Vehicles and Services relating to Steel Melting and Other Capital equipment.

Businesses

  • Engineering & Technologies
  • Steel & Pipes
  • Electric Vehicles
  • Renewables
  • Transformer
  • Transmission Line Tower

Milestones

  • 1983: Electrotherm was founded in the year 1983.
  • 1984: Developed country’s first 3 ton medium frequency induction furnace for steel making.
  • 1995: Developed various furnaces ranging from 3 - 15 ton capacity.
  • 1996: Developed DC arc furnace.
  • 1997: Developed 12 pulse furnace.
  • 1999: Developed 20 ton capacity furnace.
  • 2000: Developed induction based heating equipment.
  • 2001: Developed metal refining konvertors (AOD).
  • 2002: Executed first turnkey projects.
  • 2004: Developed 25 ton capacity furnace.
  • 2005: Founded Electrotherm steel division.
  • 2005: Founded Electrotherm Ductile iron pipes division.
  • 2006: Developed 24 pulse furnace.
  • 2006: Founded Electrotherm electric vehicles division - YoBykes.
  • 2007: Developed 16.5 MVA submerged Arc furnace.
  • 2008: Developed 30 ton capacity furnace.
  • 2008: Founded Electrotherm solar division.
  • 2009: Developed 30 ton capacity furnace.
  • 2009: Developed Electrotherm Refining Furnace (LRF).
  • 2010: Founded Electrotherm transformer division.
  • 2010: Founded Electrotherm transmission line tower division.
  • 2010: Developed coal-based direct reduction iron making plant through rotary kiln (SL/RN Process).
  • 2011: Executed first coal based DRI trunkey project.
  • 2012: Developed 50 ton capacity furnace, Modular caster (Casting Applications), ET-Grab.
  • 2013: Developed bullet caster (Casting Applications), IGBT based furnace system.
  • 2014: Developed Air pollution control equipment system.
  • 2016: Epoxy TMT Bars, Cut & Bend products.
  • 2016: Developed digital technology for all steel melting and foundry applications.
  • 2017: Developed several productivity improving equipment - scrap feeder, poker etc.
  • 2019: Refined Steel TMT bars from LRF technology.
  • 2019: Developed 60 ton and 80 ton capacity furnace.
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