Electrotherm (India) Limited has notified the stock exchanges of a forthcoming Board of Directors meeting, scheduled for Thursday, May 21, 2026. The intimation, filed under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, was communicated to both BSE Limited and the National Stock Exchange of India Ltd. on May 12, 2026.

Board Meeting Agenda

The primary agenda for the upcoming board meeting is the consideration and approval of the company's audited financial results. The following details outline the key agenda item:

Trading Window Closure

In accordance with applicable insider trading regulations, Electrotherm (India) Limited had previously communicated the closure of the trading window for designated persons. The company, through a letter dated March 25, 2026, informed that the trading window for dealing in the securities of the company by all Designated Persons and their Immediate Relatives has been closed from April 1, 2026. The trading window will continue to remain closed until 48 hours after the submission of the audited financial results for the quarter and year ended March 31, 2026.

The intimation was signed by Fageshkumar R. Soni, Company Secretary & Compliance Officer (Membership No.: F8218), on behalf of Electrotherm (India) Limited.

Electrotherm (India) Limited has disclosed a default on payment of interest and repayment of principal amount on loans from banks and financial institutions for the quarter ended 31 March 2026. The disclosure was made pursuant to the SEBI Master Circular dated 30 January 2026, with the company submitting the details to both BSE Ltd. and National Stock Exchange of India Ltd. The disclosure was signed by Amit Kumar Patwarika, Chief Financial Officer, on 30 April 2026.

Default Details

The default occurred on 31 March 2026, involving term loan and working capital loan obligations. The lender is Invent Assets Securitisation & Reconstruction Private Limited, which is the assignee of debts of Allahabad Bank (now Indian Bank) and Punjab National Bank. The current default amount comprises principal of Rs 24.00 Crores and interest of Rs 4.68 Crore, both due up to 31 March 2026.

Loan Obligations

The principal obligation, as per settlement with Invent ARC, stands at Rs 180.00 Crores with a tenure of 11 years and an interest rate of 11% per annum. The loan is classified as secured. The company has entered into a settlement with the ARC for payment of outstanding loans and debts on certain terms and conditions.

Financial Position

As of 31 March 2026, the total outstanding borrowings from banks and financial institutions amount to Rs 985.72 Crore on a provisional basis. The total financial indebtedness of the listed entity, including both short-term and long-term debt, stands at Rs 1,000.21 Crore. These figures are based on the company's books of accounts and are subject to confirmation from lenders.

The company noted that certain banks have assigned their loans and debts to Assets Reconstruction Companies (ARC). The outstanding amount shown excludes uncharged interest and accounts for settlement amounts already paid. Additionally, interest from unsettled lender Rare Asset Reconstruction Limited (assignee of Indian Overseas Bank) has not been provided in the books of accounts after the loan was classified as Non-Performing Assets (NPA).