Electrotherm(I)

NSE: ELECTHERM · Iron & Steel Products

52W Range₹551 ₹1,277

Snapshot

Unlock Electrotherm(I)'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Electrotherm (India) Limited is a diversified manufacturer specialising in induction melting furnaces, steel products, and capital equipment. The company also operates in the electric vehicle sector under the Yo Bykes brand and provides solar power solutions.

Business Model

The company generates revenue through the sale of engineering equipment, steel products, electric vehicles, and infrastructure solutions. It serves both domestic and international markets across four primary business segments.

Growth Outlook

Growth is driven by the expansion of its electric vehicle portfolio and the increasing demand for industrial induction melting and steel processing equipment. The company is also leveraging its engineering expertise to provide solar PV solutions for industrial and commercial applications.

Key Risks

  • Cyclicality of Steel Industry. The company's financial performance is highly sensitive to fluctuations in global steel prices and industrial demand.
  • Regulatory Risk in EV Sector. Changes in government subsidies and safety regulations for electric vehicles could impact the adoption and profitability of the Yo Bykes brand.
  • Input Cost Volatility. Rising costs of raw materials, such as pig iron and energy, can significantly compress operating margins.
  • Competitive Intensity. The engineering and capital equipment market faces intense competition from both domestic and international players, pressuring pricing power.

Price

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Key Metrics

REVENUE

₹3,692 Cr

TTM · consolidated

-10.3%YoY

NET PROFIT

₹-16 Cr

TTM · consolidated

-103.5%YoY

EPS

₹-12.29

TTM · consolidated

-103.5%YoY

RETURN ON EQUITY

9.9%

TTM · consolidated

+80.6 ppYoY

RETURN ON CAPITAL EMPLOYED

0.7%

TTM · consolidated

+814.6 ppYoY

P/E

-86.4x

Q4 FY26 · consolidated

-86.4 vs 0.6x5Y avg

EV/EBITDA

61.8x

Q4 FY26 · consolidated

61.8 vs 30.1x5Y avg

EBITDA MARGIN

1.0%

TTM · consolidated

-8.2 ppYoY

NET PROFIT MARGIN

1.2%

Q4 FY26 · consolidated

-14.8 ppYoY

DEBT TO EQUITY

-6.9x

Q4 FY26 · consolidated

+1.19xYoY

Peers · Iron & Steel Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Electrotherm(I)ELECTHERM
776-86.3761.76-10.3%1.0%9.9%0.7%-0.4%
Rama Steel TubesRAMASTEEL
80939.9123.897.3%3.1%2.9%7.0%-63.4%
Aeroflex Enter.AEROENTER
75221.068.9620.6%21.5%11.7%13.1%+8.0%
Scoda TubesSCODATUBES
73521.2612.0516.7%18.5%29.6%-31.9%
Beekay Steel IndBEEKAY
6709.957.519.2%12.5%7.5%9.2%-20.9%
BMW IndustriesBMW
66615.782.1%26.1%11.7%14.7%-0.6%

As of Q4 FY26

Financials