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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

₹909.60 0.55 (0.06%)

As on 24-Sep'26 12:21

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

₹909.60 0.55 (0.06%)

As on 24-Sep'26 12:21

Key Metrics
Valuation Multiples
Market Cap
₹1,158 Cr.
Current Price
₹909.6
52-Week Low / High
₹550 / 1,278
TTM EPS
₹-28.6
TTM Sales
₹3,771 Cr.
Book Value per Share
₹-131.7
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
25.4
Price to Book (P/B)
-6.90
Lower than its 5-year historical median
Price to Sales (P/S)
0.31
Higher than its 5-year historical median
EV/EBITDA
214.87
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)
43.11%
Outperforms industry median
Return on Assets (ROA)
23.71%
Operating Profit Margin
7.6%
Net Profit Margin
10.74%
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
-25.02%
Net Profit Growth (1 Year)
-
39.27%
Asset Quality
Promoter Holding
29.87%
Pledged shares (%) of Promoter's holding (%)
7.88%
Reserves
₹-181 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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Check Before You Invest

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 5.08%, 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 18.1% 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'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 ⓘ1,8621,9702,7353,4622,8362,5272,8303,0744,2724,1153,771
Sales YoY Gr.-5.8%38.8%26.6%-18.1%-10.9%12%8.6%39%-3.7%-
Adj EPS ⓘ-134.6-54.810107.55.951.7-42.5-41.7250.3276.1-29
YoY Gr.-NANA973.6%-94.5%780.1%-182.3%NANA10.3%-
BVPS (₹) ⓘ-1,111.4-998.6-989.4-879.9-762.5-711.8-754.1-815.9-566.9-89-96.3
Adj Net
Profit ⓘ		-154-69.812.81377.565.8-54.2-53.1319352-37
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%
BVPSⓘNANANANA
Share Price 18.2% 50.3% 92.1% -16.6%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		13.95.6-1-11.5-0.7-75.85.3-36.2-84.231.3
Op. Profit
Mgn % ⓘ		0.73.95.78.34.79.13.44.49.870.1
Net Profit
Mgn % ⓘ		-8.3-3.50.540.32.6-1.9-1.77.58.6-1
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

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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales2,1012,2592,9274,0403,2122,5182,8313,0744,2724,115
Operating Expenses ⓘ + 2,1332,2032,7793,7533,0962,2982,7452,9403,8523,801
Manufacturing Costs381435341467428329349344470488
Material Costs1,4481,4932,0982,9152,2841,6672,0822,2952,9732,807
Employee Cost 112128143164154135137145161199
Other Costs ⓘ 192146197205230167177155247306
Operating Profit ⓘ -325614928811622086134419315
Operating Profit Margin (%) -1.5%2.5%5.1%7.1%3.6%8.7%3.1%4.4%9.8%7.6%
Other Income ⓘ + 112093626477565
Exceptional Items ⓘ 0-14003600-360120
Interest ⓘ 44538195445676046
Depreciation ⓘ 15414814914313412188494744
Profit Before Tax ⓘ -180-9131422449-40-12317410
Tax ⓘ 000000000-32
Profit After Tax -180-9131422449-40-12317442
PAT Margin (%) -8.6%-4.0%0.1%3.5%0.8%2.0%-1.4%-0.4%7.4%10.7%
Adjusted EPS (₹)-156.0-71.62.3111.318.938.9-31.7-9.3249.1347.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + -1,216-1,366-1,362-1,222-1,093-1,042-1,082-1,096-781-159
Share Capital ⓘ 52.0712.7412.7412.7412.7412.7412.7412.7412.7412.74
Reserves ⓘ -1,268-1,379-1,375-1,235-1,106-1,055-1,095-1,109-794-172
Debt +2,0432,0741,8491,5951,3021,046395278639353
Long Term Debt1,7451,8281,6071,4431,2731,013362245607353
Short Term Debt2982472421522933333333-0
Minority Interest6000000000
Trade Payables261367475476449423387376427459
Others Liabilities ⓘ 1,2061,1441,1971,3191,2621,4712,0462,1941,5551,233
Total Liabilities ⓘ 2,3002,2192,1602,1691,9201,8971,7451,7521,8411,886

Fixed Assets

Net Fixed Assets ⓘ +1,3211,1181,027949825738698638613601
Gross Block2,4311,2661,3241,3891,3961,4291,4761,5021,5241,526
Accumulated Depreciation1,110148298440571691779865911925
CWIP ⓘ 21221729282733264498
Investments ⓘ 2777778888
Inventories271353448563490503546571618593
Trade Receivables263303369334316277167208224257
Cash Equivalents 81405463479772736272
Others Assets ⓘ 341377237224206245222229273258
Total Assets ⓘ 2,3002,2192,1602,1691,9201,8971,7451,7521,8411,886
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 5258161344181225179107351329
PBT ⓘ -180-9131422449-40-12317410
Adjustment ⓘ 236158186147115172130149113-28
Changes in Working Capital ⓘ -3-8-275543492-28-76-50
Tax Paid ⓘ -1-1-1-1-10-2-2-3-3
Cash Flow From Investing Activity ⓘ + -42-25-46-675-62-14-2-68-72
Capex -18-31-50-78-13-41-40-17-68-56
Net Investments -292-5514-252412-2-19
Others ⓘ 5496333323
Cash Flow From Financing Activity ⓘ + -12-52-106-262-203-105-189-103-294-303
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 0-48-101-230-179-62-148-100-216-239
Interest Paid ⓘ -1-4-5-32-22-41-41-3-78-63
Dividend Paid ⓘ 0-0-00000000
Others ⓘ -10000-2-2-1-1-1-1
Net Cash Flow ⓘ -1-19915-1758-242-11-46
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 Ratio0.951.081.361.871.571.321.551.762.382.21
PAT to CFO Conversion(x)N/AN/A53.672.427.544.59N/AN/A1.110.74
Working Capital Days
Receivable Days46.7042.5041.2031.8036.904328.6022.3018.5021.30
Inventory Days48.7046.8049.1045.7059.907267.7066.3050.8053.70
Payable Days60.4076.8073.3059.6073.9095.4070.9060.7049.4057.60

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Electrotherm (India) Ltd FAQs

The current trading price of Electrotherm (India) on 24-Sep-2026 12:21 is ₹909.6.

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 23-Sep-2026 the market cap of Electrotherm (India) stood at ₹1,158.4 Cr

The latest P/E ratio of Electrotherm (India) as of 23-Sep-2026 is 0.00.

The latest P/B ratio of Electrotherm (India) as of 23-Sep-2026 is -9.44.

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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