Electrotherm Board Approves Q3 FY26 Results; Appoints New Internal Auditor
Electrotherm (India) Limited reported a consolidated net loss of ₹35.42 crore for Q3 FY26, a decline from a profit of ₹88.34 crore in Q3 FY25. The nine-month consolidated net loss was ₹29.29 crore, down from a profit of ₹256.65 crore. The company appointed G. K. Choksi & Co. as its new Internal Auditor.
The substantial financial losses, coupled with auditor qualifications and going concern issues for subsidiaries, indicate a significant negative impact on the company's financial health and future prospects.
The company reported significant losses for the quarter and nine-month period, a sharp decline from the previous year. The auditors' qualified opinion regarding unprovided interest on NPA accounts and material uncertainties about the going concern of subsidiaries further contribute to the negative sentiment.
Electrotherm (India) Limited's Board of Directors convened on February 11, 2026, to approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The board also appointed M/s. G. K. Choksi & Co. as the new Internal Auditor for the company, effective from April 1, 2026, until March 31, 2027. Concurrently, M/s. N R P S & Associates LLP's term as Internal Auditor will conclude on March 31, 2026, upon completion of their tenure.
The financial results for the quarter ended December 31, 2025, show a standalone net loss after tax of ₹35.50 crore, compared to a net profit of ₹88.05 crore in the same quarter of the previous year. For the nine-month period ended December 31, 2025, the standalone net loss after tax was ₹29.54 crore, a significant decrease from a profit of ₹243.15 crore in the corresponding period of the previous year.
Consolidated results for the quarter ended December 31, 2025, indicate a net loss after tax of ₹35.42 crore, compared to a profit of ₹88.34 crore in the prior year's quarter. For the nine-month period ended December 31, 2025, the consolidated net loss after tax was ₹29.29 crore, down from a profit of ₹256.65 crore in the previous year.
The company's auditors have noted significant qualifications in their limited review reports. For standalone results, the non-provision of interest on NPA loan accounts has understated the net loss by ₹37.98 crore for the quarter and ₹110.41 crore for the nine months, with total unprovided interest impacting retained earnings by ₹1026.92 crore. For consolidated results, the non-provision of interest on NPA loan accounts has understated the net loss by ₹49.55 crore for the quarter and ₹144.06 crore for the nine months, with total unprovided interest impacting retained earnings by ₹1356.71 crore. Additionally, material uncertainties related to the going concern of subsidiaries and joint ventures have been highlighted.
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