Electrotherm India Reports Q1 Revenue Decline, Reappoints Key Executives
Electrotherm (India) Limited announced Q1 financial results with revenue dropping 21.27% to Rs 834.05 crores and net profit decreasing 74.57% to Rs 27.67 crores. The company reappointed Mr. Shailesh Bhandari and Mr. Suraj Bhandari as Managing Directors for five-year terms. Corporate actions include proposed reclassification of authorized share capital, approval of a Rs 75 crore technical consultancy agreement, and addressing board composition compliance issues. The Special Steel Division remained the largest revenue contributor, while the Electric Vehicle Division reported a loss.
Electrotherm India Ltd experienced a significant drop in financial performance for the first quarter. Net profit fell to 277.00 million rupees from 1.10 billion rupees year-over-year. Revenue decreased to 8.30 billion rupees from 10.60 billion rupees. EBITDA reduced to 520.00 million rupees with margin compression to 6.24%. Segment-wise revenue: Special Steel Division (610.34 crore), Engineering & Technologies Division (219.64 crore), and Electric Vehicle Division (7.29 crore). Total assets stood at 1,980.00 crore, with liabilities at 2,111.73 crore. The Board approved re-appointments of Mr. Shailesh Bhandari and Mr. Suraj Bhandari as Managing Directors for five-year terms, subject to shareholder approval.
18Jun 25
Electrotherm (India) Faces Asset Retention Order Under PMLA
Electrotherm (India) Ltd has disclosed receiving an order under the Prevention of Money Laundering Act (PMLA) specifically related to asset retention. This suggests potential regulatory scrutiny of the company's financial activities and may have implications for its asset management.
20May 25
Electrotherm (India) Q4 Results: Net Profit Surges Despite Revenue Dip
Electrotherm (India) Limited's Q4 financial results show a 4.9% year-over-year revenue decline to ₹11.60 billion. EBITDA decreased by 50.8% to ₹644.60 million, with the EBITDA margin contracting to 5.55%. Despite these challenges, consolidated net profit increased by 78.8% to ₹1.86 billion, largely due to an exceptional item of ₹1.07 billion. The company's profit before tax decreased by 55.3% to ₹465.20 million.