Electrotherm (India) Ltd (ELECTHERM) — FY26 Annual Report | 3 September 2026

Electrotherm (India) Ltd's 40th Annual Report for FY 2025-26 reveals a net loss of Rs. 16.18 Crore, driven by a qualified audit opinion due to unprovided interest on NPA accounts (Rs. 1,066.12 Crore), material related party transactions totaling Rs. 950 Crore, and defaults on loan repayments exceeding Rs. 200 Crore. The report highlights director appointments including Harish Mukati as Whole-Time Director & CEO, regulatory penalties for board composition violations, and ongoing legal challenges involving CBI, ED, and DRT cases. Key financial metrics show total income of Rs. 3,696.54 Crore, total expenses of Rs. 3,716.35 Crore, and a negative equity position of Rs. 153.88 Crore as of March 31, 2026. The company faces significant credit risk with major customer concentration (8.80% revenue) and Rs. 135.30 Crore in credit loss provisions. Governance updates include SEBI LODR compliance measures, e-voting procedures for the AGM, and CSR initiatives spending Rs. 3.83 Crore. The audit emphasizes material uncertainties regarding subsidiaries' going concern status and pending NCLT approval for preference share redemption.