ELECTHERM
Electrotherm (India) share price & financials
- Price
- ₹1,073.7
- Market cap
- ₹1.2k Cr
- Sector
- Capital Goods
What Electrotherm (India) Limited does
Electrotherm (India) Limited is an Ahmedabad-headquartered industrial manufacturer that operates through two principal divisions: Engineering & Technologies, and Special Steel & Electric Vehicle. Manufacturing is carried out at the company's works in Palodia (Gandhinagar district) and Samakhiyali (Kutch district), both in Gujarat. The company serves a large industrial customer base across India and internationally, supported by a network of company offices spanning roughly 30 towns and cities in India plus Bangladesh. It also has two steel-manufacturing subsidiaries, Hans Ispat Limited and Shree Ram Electro Cast Limited.
Segments
- Engineering & Technologies Division
- Special Steel Division & Electric Vehicle Division
- Operating divisions
- 2 (Engineering & Technologies; Special Steel & Electric Vehicle)
- Manufacturing works locations
- Palodia (Gandhinagar) and Samakhiyali (Kutch), Gujarat
- Company office network
- Offices across ~30 towns/cities in India plus Bangladesh
- Steel-manufacturing subsidiaries
- Hans Ispat Limited; Shree Ram Electro Cast Limited
- Company age
- 39 years (39th Annual Report, FY2024-25)
Quarterly results
Q1 FY27: revenue up 9.5%, net profit down 75.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 814 | 1,081 | 1,161 | 834 | 814 +0% | 904 −16% | 1,140 −2% | 913 +10% |
| EBITDA | 67 | 107 | 64 | 52 | -12 −118% | -31 −129% | 25 −62% | 22 −57% |
| Net profit | 59 | 88 | 186 | 28 | -22 −136% | -35 −140% | 14 −93% | 7 −75% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −5.1% 1Y
1Y: ₹1,007.2 on 10 Sept 2025 → ₹956.3. High ₹1,230.5 (6 Jul 2026), low ₹555.35 (30 Mar 2026).
Financials, as filed
Revenue grew 6.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 0.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹3.1k Cr | ₹4.3k Cr | ₹4.1k Cr | ₹3.7k Cr |
| Operating profit | ₹134 Cr | ₹419 Cr | ₹372 Cr | ₹33 Cr |
| Operating margin | 4.4% | 9.8% | 9.0% | 0.9% |
| Interest | ₹67 Cr | ₹60 Cr | ₹46 Cr | ₹24 Cr |
| Depreciation | ₹48 Cr | ₹47 Cr | ₹44 Cr | ₹43 Cr |
| Net profit | ₹-12 Cr | ₹317 Cr | ₹442 Cr | ₹-16 Cr |
| Net margin | -0.4% | 7.4% | 10.7% | -0.4% |
| Cash from operations | ₹107 Cr | ₹351 Cr | ₹329 Cr | ₹351 Cr |
| Free cash flow | ₹90 Cr | ₹283 Cr | ₹273 Cr | ₹253 Cr |
| ROCE | 10.0% | 40.0% | 32.0% | 0.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹-1.1k Cr | ₹-1.1k Cr | ₹-1.1k Cr | ₹-794 Cr | ₹-167 Cr | ₹-167 Cr |
| Borrowings | ₹2.2k Cr | ₹2.1k Cr | ₹2.0k Cr | ₹1.8k Cr | ₹1.2k Cr | ₹1.1k Cr |
| Other liabilities | ₹705 Cr | ₹741 Cr | ₹862 Cr | ₹852 Cr | ₹958 Cr | ₹1.1k Cr |
| Total liabilities | ₹1.9k Cr | ₹1.7k Cr | ₹1.8k Cr | ₹1.8k Cr | ₹2.0k Cr | ₹2.0k Cr |
| Fixed assets | ₹738 Cr | ₹698 Cr | ₹638 Cr | ₹613 Cr | ₹614 Cr | ₹626 Cr |
| Capital work in progress | ₹27 Cr | ₹33 Cr | ₹26 Cr | ₹44 Cr | ₹114 Cr | ₹138 Cr |
| Investments | ₹7 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr |
| Other assets | ₹1.1k Cr | ₹1.0k Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.2k Cr | ₹1.2k Cr |
| Total assets | ₹1.9k Cr | ₹1.7k Cr | ₹1.8k Cr | ₹1.8k Cr | ₹2.0k Cr | ₹2.0k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs added +4.68 pp while the public trimmed −4.40 pp. The shareholder count grew 2% to 8,907.
- Promoters
- 29.9%
- FIIs
- 9.3%
- DIIs
- 0.8%
- Public
- 60.1%
Since Jun 2025
- FIIs +4.68 pp
- Public −4.40 pp
- DIIs −0.23 pp
How it drifted, 12 quarters
Over this window FIIs went from 4.9% to 9.3% — +4.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 31.0%, FIIs 4.9%, DIIs 0.1%, Public 63.9%.Dec '23: Promoters 31.0%, FIIs 4.9%, DIIs 0.1%, Public 63.9%.Mar '24: Promoters 31.0%, FIIs 5.0%, DIIs 0.1%, Public 63.9%.Jun '24: Promoters 31.0%, FIIs 5.0%, DIIs 0.1%, Public 63.9%.Sep '24: Promoters 30.7%, FIIs 4.8%, DIIs 0.1%, Public 64.4%.Dec '24: Promoters 29.9%, FIIs 4.6%, DIIs 0.1%, Public 65.4%.Mar '25: Promoters 29.9%, FIIs 4.5%, DIIs 0.4%, Public 65.2%.Jun '25: Promoters 29.9%, FIIs 4.6%, DIIs 1.0%, Public 64.5%.Sep '25: Promoters 29.9%, FIIs 5.1%, DIIs 1.0%, Public 64.1%.Dec '25: Promoters 29.9%, FIIs 5.9%, DIIs 0.8%, Public 63.4%.Mar '26: Promoters 29.9%, FIIs 5.9%, DIIs 0.8%, Public 63.5%.Jun '26: Promoters 29.9%, FIIs 9.3%, DIIs 0.8%, Public 60.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Habrok India Master Lp FPI fund +2.18 pp 3.26% held
- Radiant Global Fund-Class B Participating Shares FPI fund newly disclosed 1.41% held
- Cassini Partners, L.P. Managed By Habrok Capital Management Llp FPI fund newly disclosed 1.28% held
The same filing shows 4 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Electrotherm (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Castleshine Pte Limited | 7.85% | unchanged |
| Leadhaven Pte Limited | 7.85% | unchanged |
| Western India Speciality Hospital Limited | 7.65% | unchanged |
| Shailesh Bhandari | 6.66% | unchanged |
| Mukesh Bhandari | 6.35% | unchanged |
| Artiben Jagdishbhai Akhani | 4.59% | unchanged |
| Bhandari Rakesh | 3.35% | unchanged |
| Habrok India Master Lp FPI fund | 3.26% | +2.18 pp |
| Web Businesses.Com Global Ltd. | 2.34% | unchanged |
| 8 Square Capital FPI fund | 2.32% | −1.51 pp |
| Komalay Investrade Private Limited | 1.75% | unchanged |
| Arjun Leasing And Finance Pvt Ltd | 1.70% | −0.11 pp |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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