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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

₹1,200.40 109.10 (10.00%)

As on 03-Jul'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

₹1,200.40 109.10 (10.00%)

As on 03-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,530 Cr.
Current Price
₹1,200.4
52-Week Low / High
₹550 / 1,233
TTM EPS
₹-12.7
TTM Sales
₹3,692 Cr.
Book Value per Share
₹-101.7
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
24.4
Price to Book (P/B)
-11.80
Lower than its 5-year historical median
Price to Sales (P/S)
0.41
Higher than its 5-year historical median
EV/EBITDA
51.17
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)
42.97%
Outperforms industry median
Return on Assets (ROA)
23.38%
Operating Profit Margin
7%
Net Profit Margin
10.41%
Gross Profit Margin
8.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-3.66%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-31.82%
Net Profit Growth (1 Year)
-
34.18%
Asset Quality
Promoter Holding
29.90%
Pledged shares (%) of Promoter's holding (%)
7.87%
Reserves
₹-142 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

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Valuation

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Price Trend

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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.

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.

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 7.73%, compared to the industry median CAGR of 7.56%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Electrotherm (India) Ltd?
Promoters hold 29.90% of the Electrotherm (India) Ltd, with 7.87% 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 29.3% based on the current price.

10 Year X-Ray : Login to view analysis.

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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -11.3%-4.1%1%12.5%4.9%9.2%-0.8%-1.1%42.1%43%-
Value Creation
Index
NANA-0.9-0.1-0.7-0.3NANA2.02.1-

Growth Parameters

Sales 1,8621,9702,7353,4622,8362,5272,8303,0744,2724,1153,692
Sales YoY Gr.-5.8%38.8%26.6%-18.1%-10.9%12%8.6%39%-3.7%-
Adj EPS -134.6-54.810107.55.951.7-42.5-41.7250.3276.1-12.7
YoY Gr.-NANA973.6%-94.5%780.1%-182.3%NANA10.3%-
BVPS (₹) -1,111.4-998.6-989.4-879.9-762.5-711.8-754.1-815.9-566.9-89-101.7
Adj Net
Profit
-154-69.812.81377.565.8-54.2-53.1319352-16
Cash Flow from Ops. 30.564.4155336177225179106351328-
Debt/CF from Ops. 99.245.917.77.512.59.511.117.84.83.7-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 9.2%7.7%13.3%-3.7%
Adj EPS NA116%NA10.3%
BVPSNANANANA
Share Price 31.5% 47.9% 142% 9.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
13.95.6-1-11.5-0.7-75.85.3-36.2-84.213.3
Op. Profit
Mgn %
0.73.95.78.34.79.13.44.49.870.9
Net Profit
Mgn %
-8.3-3.50.540.32.6-1.9-1.77.58.6-0.4
Debt to
Equity
-2.5-2.3-2.2-2.2-2.3-2.4-2.1-1.8-2.3-10.8-
Working Cap
Days
156163137114138150130116889653
Cash Conv.
Cycle
65564641535247403031-34

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,8621,9702,7353,4622,8362,5272,8303,0744,2724,115
Operating Expenses + 1,9411,8942,5803,1762,7032,3012,7352,9403,8513,829
Manufacturing Costs301377321400373316344344470488
Material Costs1,2851,2661,9452,4291,9771,6912,0812,2952,9732,807
Employee Cost 103120137157147130134145161199
Other Costs 252130177190207164176155247334
Operating Profit -797615528613322695135420286
Operating Profit Margin (%) -4.2%3.9%5.7%8.3%4.7%9.0%3.4%4.4%9.8%7.0%
Other Income + 71163126447493
Exceptional Items 0-1400360-22-1050107
Interest 46538195045666046
Depreciation 14314414513813011786474544
Profit Before Tax -218-77111414563-54-77319396
Tax 000000000-32
Profit After Tax -218-77111414563-54-77319429
PAT Margin (%) -11.7%-3.9%0.4%4.1%1.6%2.5%-1.9%-2.5%7.5%10.4%
Adjusted EPS (₹)-190.0-60.38.8110.535.349.7-42.6-60.2250.7336.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Electrotherm (India) - Standalone

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!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + -1,203-1,272-1,260-1,121-971-907-961-1,039-722-113
Share Capital 52131313131313131313
Reserves -1,255-1,285-1,273-1,134-984-920-973-1,052-735-126
Debt +1,9501,9961,7821,5271,2571,006377259621368
Long Term Debt1,6821,7791,5711,4051,243992362245607353
Short Term Debt268216212122151515151415
Minority Interest0000000000
Trade Payables231332421435431387385375426458
Others Liabilities 1,1751,1011,1481,2691,2021,4111,9652,1141,4761,153
Total Liabilities 2,1532,1572,0912,1111,9181,8971,7651,7091,8011,865

Fixed Assets

Net Fixed Assets +1,1501,026939862764680641620597600
Gross Block2,1571,1701,2281,2891,3191,3511,3981,4241,4451,489
Accumulated Depreciation1,007144289427554671757804849889
CWIP 11201627272733264498
Investments 49464646464646101010
Inventories241333427526477495542566613593
Trade Receivables309343390357338293176197213246
Cash Equivalents 68334859469771726272
Others Assets 325357225233219258256217262247
Total Assets 2,1532,1572,0912,1111,9181,8971,7651,7091,8011,865

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 3164155336177225179106351328
PBT -218-77111414563-54-77319396
Adjustment 30415718314298163150214112-16
Changes in Working Capital -55-16-395434-285-29-77-49
Tax Paid -1-1-1-1-10-2-2-3-3
Cash Flow From Investing Activity + -12-30-38-67-6-63-14-2-68-105
Capex -16-31-50-72-23-41-40-18-68-89
Net Investments 107014-252412-2-19
Others 3145332323
Cash Flow From Financing Activity + -26-50-103-253-184-104-189-102-294-270
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0-46-98-226-161-65-148-100-216-206
Interest Paid -1-4-5-27-22-37-41-1-78-63
Dividend Paid 0-0-00000000
Others -25-0-00-2-2-1-1-1-1
Net Cash Flow -8-161316-1459-242-11-46

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
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 Ratio0.890.971.311.651.411.321.551.772.432.25
PAT to CFO Conversion(x)N/AN/A14.092.383.933.57N/AN/A1.10.76
Working Capital Days
Receivable Days59.6056.7048.3039.4044.8045.6030.2022.2017.5020.30
Inventory Days47.1049.9050.1050.3064.6070.3066.9065.8050.4053.50
Payable Days59.6081.3070.7064.3079.9087.9067.3060.4049.2057.50

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *7.587.587.587.677.877.877.877.877.877.87
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Electrotherm (India) Ltd FAQs

The current trading price of Electrotherm (India) on 03-Jul-2026 16:59 is ₹1,200.4.

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 02-Jul-2026 the market cap of Electrotherm (India) stood at ₹1,529.7 Cr

The latest P/E ratio of Electrotherm (India) as of 02-Jul-2026 is 0.00.

The latest P/B ratio of Electrotherm (India) as of 02-Jul-2026 is -11.80.

The 52-week high of Electrotherm (India) is ₹1,233.3 and the 52-week low is ₹550.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Electrotherm (India) is ₹3,692 ( 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 Strong which suggest that the price of Electrotherm (India) Ltd is likely to Rise 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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