
About Electrotherm (India) Limited
Data last updated:
Electrotherm (India) Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the process machinery and industrial equipment segment of the machinery and industrial equipment sector. It was incorporated on 29 October 1986 and has been in existence for over 40 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L29249GJ1986PLC009126. Its GSTIN is 24AAACE2669L1ZI (Gujarat). The company holds 19 GST registrations, of which 7 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 526608 and NSE: ELECTHERM.
The company has an authorised share capital of ₹78.59 Cr and a paid-up capital of ₹23.69 Cr. It was formerly known as Foremost Chemicals Limited. It is led by directors including Shailesh Bhanwarlal Bhandari (Managing Director) and Suraj Shailesh Bhandari (Managing Director).
Its last annual general meeting (AGM) was held on 10 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Ahmedabad, Gujarat.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹3,692.09 Cr, a decline of 10.3% compared to the previous year. For the same year it recorded a net loss of ₹12.01 Cr (net margin -0.3%) and EBITDA of ₹35.79 Cr (EBITDA margin 1%). Total assets are valued at ₹948.16 Cr (down 18.1% YoY).
The company has about 1,028 employees on its provident fund (EPFO) records. Its group structure includes 4 subsidiaries and 1 joint venture.
As per MCA filings, the company has open charges of ₹4,470.66 Cr and satisfied charges of ₹3,878.94 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website electrotherm.com.
Company details
CIN history
Electrotherm (India) has one previous CIN (Corporate Identification Number): L24110GJ1986PLC009126. The current CIN is L29249GJ1986PLC009126, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L29249GJ1986PLC009126 | Current |
| L24110GJ1986PLC009126 | Previous |
Contact details
Electrotherm (India) Limited's registered office is in Ahmadabad City, Gujarat. Its website is electrotherm.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address502 Parshwa Tower Opp. Tej Motors, Nr. Madhur Hotel Sarkhej Gandhinagar Highway, Ahmedabad, Gujarat, India – 380054
- IndustryMachinery and Equipment, Process Machinery & Industrial Equipment
To see the full contact details of Electrotherm (India) Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Electrotherm (India) is manufacturing. In detail, this covers metal and metal products, electrical equipment, general purpose and special purpose machinery & equipment, transport equipment and motor vehicles, trailers, semi trailers and other transport vehicles. 3 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products | |
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | |
| C | Manufacturing | C11 | Motor vehicles, trailers, semi trailers and other Transport Vehicles |
To see the full business activity and turnover split of Electrotherm (India) Limited, buy the company report.
Financials of Electrotherm (India) Limited
FY 2025-26 filings availableElectrotherm (India) Limited reported revenue of ₹3,692.09 Cr (down 10.3% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,692 | 4,115 | 4,272 | 3,074 | 2,831 | 2,518 | 3,200 |
| Revenue growth | -10.3% | -3.7% | +39.0% | +8.6% | +12.4% | -21.3% | - |
| EBITDA | 35.79 | 367 | 419 | 97.85 | 86.44 | 220 | 112 |
| EBITDA margin | +1.0% | +8.9% | +9.8% | +3.2% | +3.1% | +8.7% | +3.5% |
| Profit before tax | (23.16) | 410 | 317 | (11.82) | (40.37) | 49.48 | 24.11 |
| Net profit | (12.01) | 322 | 317 | 24.64 | (40.36) | 49.44 | 2.00 |
| Net profit margin | -0.3% | +7.8% | +7.4% | +0.8% | -1.4% | +2.0% | +0.1% |
| EPS (₹) | (12.29) | 347.06 | 249.08 | (9.28) | (31.68) | 38.85 | 18.92 |
| Balance sheet | |||||||
| Total assets | 948 | 1,158 | 1,014 | 912 | 1,024 | 1,207 | 1,222 |
| Net worth | (154) | (159) | (781) | (1,096) | (1,082) | (1,042) | (1,093) |
| Total debt | 1,064 | 1,287 | 1,770 | 1,986 | 2,087 | 2,234 | 2,294 |
| Cash & bank | 91.39 | 72.26 | 62.34 | 72.73 | 71.72 | 97.29 | 47.04 |
| Net working capital | 57.80 | 357 | 275 | 197 | 228 | 341 | 305 |
| Cash flow | |||||||
| Cash from operations | 351 | 329 | 351 | 107 | 179 | 225 | 177 |
| Cash from investing | (99.49) | (72.17) | (67.87) | (2.48) | (14.06) | (62.20) | 4.95 |
| Cash from financing | (227) | (303) | (294) | (103) | (189) | (104) | (199) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 913 | 1,140 | 904 | 814 | 834 | 1,161 | 1,081 | 814 |
| Revenue growth (YoY) | +9.5% | -1.8% | -16.4% | +0.1% | -21.3% | - | - | - |
| Other income | 1.51 | 8.25 | 0.39 | 1.35 | 0.77 | 109 | 3.46 | 14.64 |
| EBITDA | 22.40 | 24.50 | (30.64) | (12.13) | 51.76 | 64.46 | 107 | 67.32 |
| EBITDA margin | +2.5% | +2.1% | -3.4% | -1.5% | +6.2% | +5.6% | +9.9% | +8.3% |
| Depreciation | 11.13 | 11.05 | 11.12 | 10.53 | 10.58 | 12.16 | 10.68 | 10.95 |
| Interest | 3.97 | 3.85 | 4.91 | 7.18 | 8.19 | 8.18 | 11.99 | 11.60 |
| Profit before tax | 8.81 | 17.85 | (46.28) | (28.49) | 33.76 | 153 | 88.27 | 59.41 |
| Tax | 1.93 | 4.28 | (10.79) | (6.81) | 6.07 | (32.14) | 0.00 | 0.00 |
| Net profit | 6.88 | 13.57 | (35.49) | (21.68) | 27.69 | 185 | 88.27 | 59.41 |
| EPS (₹) | 5.44 | 10.70 | (27.80) | (16.97) | 21.78 | 145.60 | 69.34 | 46.68 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,692 | 4,115 | 4,272 | 3,074 | 2,830 | 2,527 | 2,820 |
| Revenue growth | -10.3% | -3.7% | +39.0% | +8.6% | +12.0% | -10.4% | - |
| EBITDA | 36.10 | 372 | 420 | 29.80 | 73.05 | 226 | 129 |
| EBITDA margin | +1.0% | +9.0% | +9.8% | +1.0% | +2.6% | +9.0% | +4.6% |
| Profit before tax | (23.43) | 396 | 319 | (76.66) | (54.32) | 63.30 | 44.98 |
| Net profit | (12.53) | 323 | 319 | 28.09 | (31.99) | 63.25 | 9.44 |
| Net profit margin | -0.3% | +7.8% | +7.5% | +0.9% | -1.1% | +2.5% | +0.3% |
| EPS (₹) | (12.70) | 336.42 | 250.73 | (60.17) | (42.64) | 49.69 | 35.31 |
| Balance sheet | |||||||
| Total assets | 930 | 1,140 | 976 | 872 | 1,049 | 1,246 | 1,250 |
| Net worth | (109) | (113) | (722) | (1,039) | (961) | (907) | (971) |
| Total debt | 1,000 | 1,224 | 1,674 | 1,890 | 1,990 | 2,137 | 2,201 |
| Cash & bank | 90.96 | 71.83 | 61.91 | 72.28 | 71.26 | 96.81 | 46.26 |
| Net working capital | 46.26 | 346 | 260 | 181 | 279 | 407 | 365 |
| Cash flow | |||||||
| Cash from operations | 351 | 328 | 351 | 106 | 179 | 225 | 177 |
| Cash from investing | (99.26) | (105) | (68.17) | (2.48) | (14.15) | (62.51) | (5.74) |
| Cash from financing | (227) | (270) | (294) | (102) | (189) | (104) | (184) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 913 | 1,140 | 904 | 814 | 834 | 1,161 | 1,081 | 814 |
| Revenue growth (YoY) | +9.5% | -1.8% | -16.4% | +0.1% | -21.3% | - | - | - |
| Other income | 1.50 | 7.70 | 0.38 | 1.33 | 0.77 | 109 | 2.73 | 1.54 |
| Total expenses | 891 | 1,115 | 934 | 826 | 782 | 1,097 | 973 | 746 |
| EBITDA | 22.39 | 24.84 | (30.65) | (12.13) | 51.74 | 64.47 | 108 | 67.30 |
| EBITDA margin | +2.5% | +2.2% | -3.4% | -1.5% | +6.2% | +5.6% | +10.0% | +8.3% |
| Depreciation | 11.13 | 11.05 | 11.11 | 10.54 | 10.58 | 12.16 | 10.68 | 10.95 |
| Interest | 3.97 | 3.85 | 4.91 | 7.18 | 8.19 | 8.18 | 11.99 | 11.60 |
| Profit before tax | 8.79 | 17.64 | (46.29) | (28.52) | 33.74 | 153 | 88.05 | 46.29 |
| Tax | 1.93 | 4.28 | (10.79) | (6.81) | 6.07 | (32.14) | 0.00 | 0.00 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 913 | 1,140 | 904 | 814 | 834 | 1,161 | 1,081 | 814 |
| Revenue growth (YoY) | +9.5% | -1.8% | -16.4% | +0.1% | -21.3% | - | - | - |
| Other income | 1.51 | 8.25 | 0.39 | 1.35 | 0.77 | 109 | 3.46 | 14.64 |
| EBITDA | 22.40 | 24.50 | (30.64) | (12.13) | 51.76 | 64.46 | 107 | 67.32 |
| EBITDA margin | +2.5% | +2.1% | -3.4% | -1.5% | +6.2% | +5.6% | +9.9% | +8.3% |
| Depreciation | 11.13 | 11.05 | 11.12 | 10.53 | 10.58 | 12.16 | 10.68 | 10.95 |
| Interest | 3.97 | 3.85 | 4.91 | 7.18 | 8.19 | 8.18 | 11.99 | 11.60 |
| Profit before tax | 8.81 | 17.85 | (46.28) | (28.49) | 33.76 | 153 | 88.27 | 59.41 |
| Tax | 1.93 | 4.28 | (10.79) | (6.81) | 6.07 | (32.14) | 0.00 | 0.00 |
| Net profit | 6.88 | 13.57 | (35.49) | (21.68) | 27.69 | 185 | 88.27 | 59.41 |
| EPS (₹) | 5.44 | 10.70 | (27.80) | (16.97) | 21.78 | 145.60 | 69.34 | 46.68 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,692 | 4,115 | 4,272 | 3,074 | 2,831 | 2,518 | 3,200 |
| Revenue growth | -10.3% | -3.7% | +39.0% | +8.6% | +12.4% | -21.3% | - |
| Other income | 8.46 | 132 | 4.65 | 6.69 | 6.54 | 4.22 | 61.96 |
| Total expenses | 3,656 | 3,748 | 3,852 | 2,976 | 2,745 | 2,298 | 3,088 |
| Employee cost | 218 | 199 | 161 | 145 | 137 | 135 | 172 |
| EBITDA | 35.79 | 367 | 419 | 97.85 | 86.44 | 220 | 112 |
| EBITDA margin | +1.0% | +8.9% | +9.8% | +3.2% | +3.1% | +8.7% | +3.5% |
| Depreciation | 43.28 | 44.39 | 46.70 | 49.19 | 87.90 | 121 | 134 |
| Interest | 24.13 | 45.52 | 60.14 | 67.17 | 45.45 | 54.01 | 15.55 |
| Profit before tax | (23.16) | 410 | 317 | (11.82) | (40.37) | 49.48 | 24.11 |
| Tax | (7.25) | (32.14) | 0.00 | 0.01 | 0.00 | 0.01 | 0.02 |
| Net profit | (12.01) | 322 | 317 | 24.64 | (40.36) | 49.44 | 2.00 |
| Net profit margin | -0.3% | +7.8% | +7.4% | +0.8% | -1.4% | +2.0% | +0.1% |
| EPS (₹) | (12.29) | 347.06 | 249.08 | (9.28) | (31.68) | 38.85 | 18.92 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 12.74 | 12.74 | 12.74 | 12.74 | 12.74 | 12.74 | 12.74 |
| Reserves & surplus | (167) | (172) | (794) | (1,109) | (1,095) | (1,055) | (1,106) |
| Shareholders' funds (net worth) | (154) | (159) | (781) | (1,096) | (1,082) | (1,042) | (1,093) |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 1,079 | 1,301 | 1,755 | 1,970 | 2,070 | 2,218 | 2,279 |
| Unsecured loans | (15.24) | (14.68) | 15.56 | 16.08 | 16.57 | 16.01 | 14.61 |
| Total debt | 1,064 | 1,287 | 1,770 | 1,986 | 2,087 | 2,234 | 2,294 |
| Total liabilities | 948 | 1,158 | 1,014 | 912 | 1,024 | 1,207 | 1,222 |
| Assets | |||||||
| Gross block | 1,558 | 1,490 | 1,487 | 1,466 | 1,476 | 1,429 | 1,396 |
| Net block | 626 | 601 | 613 | 638 | 698 | 738 | 825 |
| Capital work in progress | 138 | 97.67 | 44.10 | 26.08 | 32.69 | 27.40 | 27.59 |
| Investments | 8.25 | 8.03 | 7.74 | 7.51 | 7.50 | 7.39 | 7.15 |
| Inventories | 571 | 593 | 618 | 571 | 546 | 503 | 490 |
| Sundry debtors | 259 | 257 | 224 | 208 | 167 | 277 | 316 |
| Cash & bank balances | 91.39 | 72.26 | 62.34 | 72.73 | 71.72 | 97.29 | 47.04 |
| Loans & advances | 201 | 195 | 198 | 186 | 164 | 152 | 150 |
| Total current assets | 1,122 | 1,118 | 1,102 | 1,038 | 949 | 1,030 | 1,004 |
| Total current liabilities | 1,065 | 761 | 827 | 841 | 721 | 689 | 698 |
| Net working capital | 57.80 | 357 | 275 | 197 | 228 | 341 | 305 |
| Total assets | 948 | 1,158 | 1,014 | 912 | 1,024 | 1,207 | 1,222 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 9.22 | 55.31 | 66.09 | 64.47 | 88.68 | 30.41 | 47.38 |
| Net cash from operating activities | 351 | 329 | 351 | 107 | 179 | 225 | 177 |
| Net cash from investing activities | (99.49) | (72.17) | (67.87) | (2.48) | (14.06) | (62.20) | 4.95 |
| Net cash from financing activities | (227) | (303) | (294) | (103) | (189) | (104) | (199) |
| Net change in cash | 24.78 | (46.09) | (10.78) | 1.62 | (24.21) | 58.27 | (16.97) |
| Closing cash | 91.39 | 72.26 | 62.34 | 72.73 | 71.72 | 97.29 | 47.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -10.3% | -3.7% | +39.0% | +8.6% | +12.4% | -21.3% | - |
| EBITDA growth | -90.3% | -12.4% | +328.7% | +13.2% | -60.7% | +96.4% | - |
| PBT growth | - | +29.1% | +9998.0% | +70.7% | - | +105.2% | -83.0% |
| Net income growth | -103.7% | +1.4% | +1187.6% | +161.1% | -181.6% | +2372.0% | - |
| Revenue CAGR (3Y) | +6.3% | +13.3% | +19.3% | -1.3% | -11.2% | -4.9% | +12.3% |
| EBITDA CAGR (3Y) | -28.5% | +62.0% | +24.0% | -4.4% | -34.2% | +14.0% | +41.4% |
| Profitability & leverage | |||||||
| Net income margin | -0.4% | +10.7% | +7.4% | -0.4% | -1.4% | +2.0% | +0.8% |
| Return on capital employed | 0.0% | +13.9% | +21.8% | 0.0% | 0.0% | +3.4% | +0.6% |
| Return on net worth | 0.0% | +37.9% | -187.7% | 0.0% | 0.0% | +6.4% | +0.3% |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | -322.16 | 14.09 | 16.13 | 138.04 | -3,113.01 | 54.41 | -69.73 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.42 | 2.76 | 2.89 | 2.09 | 1.95 | 1.78 | 2.30 |
| Inventory turnover | 6.34 | 6.80 | 7.19 | 5.50 | 5.39 | 5.07 | 6.07 |
| Debtors turnover | 14.31 | 17.11 | 19.76 | 16.38 | 12.74 | 8.48 | 9.85 |
| EPS (₹) | (12.29) | 347.06 | 249.08 | (9.28) | (31.68) | 38.85 | 18.92 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | (120.78) | (124.63) | (613.12) | (860.45) | (849.58) | (818.19) | (858.18) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 913 | 1,140 | 904 | 814 | 834 | 1,161 | 1,081 | 814 |
| Revenue growth (YoY) | +9.5% | -1.8% | -16.4% | +0.1% | -21.3% | - | - | - |
| Other income | 1.50 | 7.70 | 0.38 | 1.33 | 0.77 | 109 | 2.73 | 1.54 |
| Total expenses | 891 | 1,115 | 934 | 826 | 782 | 1,097 | 973 | 746 |
| EBITDA | 22.39 | 24.84 | (30.65) | (12.13) | 51.74 | 64.47 | 108 | 67.30 |
| EBITDA margin | +2.5% | +2.2% | -3.4% | -1.5% | +6.2% | +5.6% | +10.0% | +8.3% |
| Depreciation | 11.13 | 11.05 | 11.11 | 10.54 | 10.58 | 12.16 | 10.68 | 10.95 |
| Interest | 3.97 | 3.85 | 4.91 | 7.18 | 8.19 | 8.18 | 11.99 | 11.60 |
| Profit before tax | 8.79 | 17.64 | (46.29) | (28.52) | 33.74 | 153 | 88.05 | 46.29 |
| Tax | 1.93 | 4.28 | (10.79) | (6.81) | 6.07 | (32.14) | 0.00 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,692 | 4,115 | 4,272 | 3,074 | 2,830 | 2,527 | 2,820 |
| Revenue growth | -10.3% | -3.7% | +39.0% | +8.6% | +12.0% | -10.4% | - |
| Other income | 7.88 | 114 | 4.34 | 6.69 | 3.76 | 3.80 | 61.27 |
| Total expenses | 3,656 | 3,743 | 3,851 | 3,044 | 2,757 | 2,301 | 2,691 |
| Employee cost | 218 | 199 | 161 | 145 | 134 | 130 | 165 |
| EBITDA | 36.10 | 372 | 420 | 29.80 | 73.05 | 226 | 129 |
| EBITDA margin | +1.0% | +9.0% | +9.8% | +1.0% | +2.6% | +9.0% | +4.6% |
| Depreciation | 43.28 | 44.39 | 45.23 | 47.08 | 85.78 | 117 | 130 |
| Interest | 24.13 | 45.52 | 59.82 | 66.07 | 45.35 | 49.89 | 15.41 |
| Profit before tax | (23.43) | 396 | 319 | (76.66) | (54.32) | 63.30 | 44.98 |
| Tax | (7.25) | (32.14) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net profit | (12.53) | 323 | 319 | 28.09 | (31.99) | 63.25 | 9.44 |
| Net profit margin | -0.3% | +7.8% | +7.5% | +0.9% | -1.1% | +2.5% | +0.3% |
| EPS (₹) | (12.70) | 336.42 | 250.73 | (60.17) | (42.64) | 49.69 | 35.31 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 12.74 | 12.74 | 12.74 | 12.74 | 12.74 | 12.74 | 12.74 |
| Reserves & surplus | (122) | (126) | (735) | (1,052) | (973) | (920) | (984) |
| Shareholders' funds (net worth) | (109) | (113) | (722) | (1,039) | (961) | (907) | (971) |
| Secured loans | 995 | 1,217 | 2,723 | 1,886 | 1,986 | 2,133 | 2,198 |
| Unsecured loans | 5.79 | 6.35 | (1,048) | 4.04 | 4.53 | 3.97 | 2.57 |
| Total debt | 1,000 | 1,224 | 1,674 | 1,890 | 1,990 | 2,137 | 2,201 |
| Total liabilities | 930 | 1,140 | 976 | 872 | 1,049 | 1,246 | 1,250 |
| Assets | |||||||
| Gross block | 1,558 | 1,489 | 1,445 | 1,424 | 1,398 | 1,351 | 1,319 |
| Net block | 626 | 600 | 596 | 620 | 641 | 680 | 764 |
| Capital work in progress | 138 | 97.67 | 44.10 | 26.08 | 32.68 | 27.39 | 26.82 |
| Investments | 10.05 | 10.08 | 10.04 | 9.84 | 46.30 | 46.20 | 45.98 |
| Inventories | 571 | 593 | 613 | 566 | 542 | 495 | 477 |
| Sundry debtors | 248 | 246 | 213 | 197 | 176 | 293 | 338 |
| Cash & bank balances | 90.96 | 71.83 | 61.91 | 72.28 | 71.26 | 96.81 | 46.26 |
| Loans & advances | 199 | 193 | 196 | 183 | 206 | 173 | 171 |
| Total current assets | 1,108 | 1,103 | 1,084 | 1,018 | 995 | 1,058 | 1,033 |
| Total current liabilities | 1,062 | 758 | 824 | 837 | 716 | 651 | 668 |
| Net working capital | 46.26 | 346 | 260 | 181 | 279 | 407 | 365 |
| Total assets | 930 | 1,140 | 976 | 872 | 1,049 | 1,246 | 1,250 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 8.79 | 54.88 | 65.64 | 64.01 | 88.20 | 29.63 | 43.15 |
| Net cash from operating activities | 351 | 328 | 351 | 106 | 179 | 225 | 177 |
| Net cash from investing activities | (99.26) | (105) | (68.17) | (2.48) | (14.15) | (62.51) | (5.74) |
| Net cash from financing activities | (227) | (270) | (294) | (102) | (189) | (104) | (184) |
| Net change in cash | 24.78 | (46.09) | (10.76) | 1.63 | (24.19) | 58.57 | (13.52) |
| Closing cash | 90.96 | 71.83 | 61.91 | 72.28 | 71.26 | 96.81 | 46.26 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -10.3% | -3.7% | +39.0% | +8.6% | +12.0% | -10.4% | - |
| EBITDA growth | -90.3% | -11.5% | +1309.9% | -59.2% | -67.7% | +75.2% | - |
| PBT growth | - | +24.1% | +9998.0% | -41.1% | - | +40.7% | -68.1% |
| Net income growth | -103.9% | +1.0% | +1037.0% | +187.8% | -150.6% | +570.0% | - |
| Revenue CAGR (3Y) | +6.3% | +13.3% | +19.1% | +2.9% | -6.4% | -2.6% | +12.7% |
| EBITDA CAGR (3Y) | +6.6% | +72.1% | +22.9% | -38.7% | -37.5% | +13.5% | +29.3% |
| Profitability & leverage | |||||||
| Net income margin | -0.4% | +10.4% | +7.5% | -2.5% | -1.9% | +2.5% | +1.6% |
| Return on capital employed | 0.0% | +14.8% | +23.2% | 0.0% | 0.0% | +3.9% | +0.8% |
| Return on net worth | 0.0% | +40.7% | -189.3% | 0.0% | 0.0% | +8.9% | +1.4% |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | -336.07 | 13.89 | 15.96 | -382.35 | -356.25 | 45.61 | -1,751.14 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.42 | 2.80 | 2.98 | 2.18 | 2.06 | 1.89 | 2.17 |
| Inventory turnover | 6.35 | 6.83 | 7.24 | 5.55 | 5.46 | 5.20 | 5.63 |
| Debtors turnover | 14.96 | 17.95 | 20.84 | 16.47 | 12.07 | 8.01 | 8.12 |
| EPS (₹) | (12.70) | 336.42 | 250.73 | (60.17) | (42.64) | 49.69 | 35.31 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | (85.60) | (89.03) | (566.89) | (815.86) | (754.10) | (711.77) | (762.50) |
To see the full year-wise statements and ratios of Electrotherm (India) Limited, buy the company report.
Board of directors of Electrotherm (India) Limited
Electrotherm (India) has 10 current directors and 34 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nivedita Ravindra Sarda Also directs: Vedanta Law Chambers LLP, Mayur Uniquoters Limited, Edge Warehousing III Private Limited and 3 more | Director | 25 May 2018 | 8 Years 5 Months | Current |
| Shailesh Bhanwarlal Bhandari Also directs: Jayshri Petro-Yarn Private Limited, Sun Silicon Solutions Private Limited, Shree Ram Electro Cast Limited and 5 more | Managing Director | 29 Mar 2007 | 19 Years 7 Months | Current |
| Dinesh Shankar Mukati | Director | 05 Sep 2017 | 9 Years 1 Months | Current |
| Suraj Shailesh Bhandari Also directs: Western India Speciality Hospital Limited, Legacy Capital LLP | Managing Director | 13 Nov 2019 | 6 Years 11 Months | Current |
| Mohan Pratap | Director | 05 Sep 2017 | 9 Years 1 Months | Current |
| Tushar Kantilal Jani | Whole-Time Director | 10 Apr 2025 | 1 Years 6 Months | Current |
Auditor
Electrotherm (India) Limited is audited by HITESH PRAKASH SHAH & CO. for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| HITESH PRAKASH SHAH & CO. | FY 2025 | 127614W |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 29.90%, foreign institutional investors hold 9.30%, domestic institutional investors hold 0.80% and retail and other public shareholders hold 60.10%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 29.90% | 29.90% | 29.90% | 29.90% |
| Public | 70.10% | 70.10% | 70.10% | 70.10% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 18 Nov 2011 | 10317944 | Others | ₹200 Cr | Open | |
| 18 Nov 2011 | 10317950 | Indian Overseas Bank | ₹100 Cr | Open | |
| 12 Nov 2011 | 10321481 | Edelweiss Asset Reconstruction Company Limited | ₹278.47 Cr | Open | |
| 24 Oct 2011 | 10323332 | Edelweiss Asset Reconstruction Company Limited | ₹181 Cr | Open | |
| 28 Sep 2011 | 10314939 | Edelweiss Asset Reconstruction Company Limited | ₹3.6 Cr | Open |
To see the full charge records of Electrotherm (India) Limited, buy the company report.
Total charge records: 52 View all charges
Legal cases
No court or tribunal cases involving Electrotherm (India) Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
Electrotherm (India) Limited has 32 MSME Form 1 returns on record between 2017 and 2023, listing 22,099 overdue payments to 345 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 345)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Chirag Industries | |||
| an individual supplier | |||
| an individual supplier | |||
| Atlas Cable Industries | |||
| an individual supplier |
To see the full MSME payment records of Electrotherm (India) Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Electrotherm (India) has 4 subsidiary companies and 1 joint venture. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Shree Ram Electro Cast Limited | U27109GJ2004PLC066347 | |
| Et Elec-Trans Limited | U34102GJ2008PLC055557 | |
| Hans Ispat Limited | U51109GJ1991PLC057955 | |
| Electrotherm Services Limited | U74110GJ1995PLC064736 |
To see the full group structure of Electrotherm (India) Limited, buy the company report.
Employees & EPFO
Electrotherm (India) Limited has a workforce of 1,028 employees on its EPFO records as of Nov 24, 2025, across 1 active EPFO establishment.
GST
Electrotherm (India) has 19 GST registrations: 7 active and 12 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACE2669L1ZI | Gujarat | Active | 01 Jul 2017 |
| 24AAACE2669L1DR | Gujarat | Active | 30 Oct 2024 |
| 09AAACE2669L1ZA | Uttar Pradesh | Active | 01 Jul 2017 |
| 19AAACE2669L1Z9 | West Bengal | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Electrotherm (India) Limited, buy the company report.
Recent activity
Electrotherm (India) Limited has 68 board changes on record since 1994: 40 appointments and 28 cessations. The latest: Davesh Khandelwal was appointed as Whole-Time Director on 26 Aug 2026.
164 earlier events are in the company report.
News
Frequently asked questions
Electrotherm (India) is an active public limited company based in Ahmedabad, Gujarat, India. The company works in process machinery and industrial equipment, within the machinery and equipment industry. It was incorporated on 29 October 1986 (40+ years old) and is registered under CIN L29249GJ1986PLC009126. Listed on BSE: 526608 and NSE: ELECTHERM.
Electrotherm (India) reported revenue of ₹3,692.09 Cr for FY 2025-26 (down 10.3% YoY) based on consolidated financials.
Electrotherm (India) has 10 current directors:
- Shailesh Bhanwarlal Bhandari - Managing Director
- Suraj Shailesh Bhandari - Managing Director
- Tushar Kantilal Jani - Whole-Time Director
- Harish Mukati - Whole-Time Director
- Davesh Khandelwal - Whole-Time Director
- Nivedita Ravindra Sarda - Director
- Dinesh Shankar Mukati - Director
- Mohan Pratap - Director
- Rajesh Bhalchandra Patel - Director
- Raj Kumar Bansal - Director
The latest financial statements of Electrotherm (India) on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 10 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Electrotherm (India) is 24AAACE2669L1ZI, registered in Gujarat. The company has 19 GST registrations in all, of which 7 are active and 12 are cancelled or inactive. Other active GSTINs include 24AAACE2669L1DR (Gujarat), 09AAACE2669L1ZA (Uttar Pradesh), 19AAACE2669L1Z9 (West Bengal).
The CIN (Corporate Identification Number) of Electrotherm (India) is L29249GJ1986PLC009126. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Electrotherm (India) is a listed company as per MCA records. Its shares are listed on both BSE (code: 526608) and NSE (symbol: ELECTHERM).
Electrotherm (India) was incorporated on 29 October 1986, making it 40+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Davesh Khandelwal was appointed as Whole-Time Director on 26 Aug 2026. Rajesh Bhalchandra Patel was appointed as Director on 26 Aug 2026. Harish Mukati was appointed as Whole-Time Director on 20 Jul 2026. Electrotherm (India) has 68 board changes on record in total.
Electrotherm (India) has 32 MSME Form 1 returns on record between 2017 and 2023, listing 22,099 overdue payments to 345 micro and small suppliers. The latest return was filed on 22 Nov 2023.
Electrotherm (India) can be reached through the website electrotherm.com. Its registered office is in Ahmedabad, Gujarat, India.

