Electrotherm (India) Limited — Others, 20-05-2025: Change in Management

Electrotherm (India) Limited has announced a board meeting where it approved the financial results for the quarter and year ended March 31, 2025, reporting standalone revenue of Rs. 4,115.37 Cr and net profit of Rs. 428.60 Cr. Exceptional items worth Rs. 106.78 Cr reflect settlement adjustments reducing liabilities. The company reduced debt by Rs. 247.82 Cr through loan settlements but faces ongoing litigation and defaults, including non-provisioning of Rs. 131.80 Cr interest on NPA accounts, leading to profit overstatement and liability understatement by Rs. 916.51 Cr. Enforcement Directorate actions are ongoing against the Executive Vice Chairman. New Cost and Secretarial Auditors have been appointed, pending shareholder approval. A promoter Family Settlement Agreement seeks to realign management and shareholding. Several subsidiaries and joint ventures face going concern challenges amid asset auctions, loan defaults, and regulatory issues, while old receivables and payables remain under reconciliation.