Electrotherm Board Approves Q3 FY26 Results; Appoints New Internal Auditor
Electrotherm (India) Limited reported a standalone net loss of ₹35.50 crore for Q3 FY26 and a consolidated net loss of ₹35.42 crore. The company appointed G. K. Choksi & Co. as its new Internal Auditor from April 1, 2026. Significant qualifications were noted in the audit report regarding unprovided interest on NPAs.
The reported losses and significant audit qualifications, especially concerning unprovided interest on NPAs and potential going concern issues for subsidiaries, have a material impact on the company's financial health and investor confidence.
The company reported net losses for the quarter and nine months ended December 31, 2025, a reversal from profits in the previous year. Additionally, the auditor's report contains significant qualifications related to non-provision of interest on NPAs and material uncertainties about the going concern of subsidiaries.
Electrotherm (India) Limited's Board of Directors, in a meeting held on February 11, 2026, approved the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The company also announced the appointment of M/s. G. K. Choksi & Co., Chartered Accountants, as its new Internal Auditor for the financial year 2026-27, effective April 1, 2026. Concurrently, M/s. N R P S & Associates LLP will cease to be the Internal Auditor upon completion of their term on March 31, 2026.
The financial results for the quarter ended December 31, 2025, show a standalone net loss after tax of ₹35.50 crore, compared to a profit of ₹88.05 crore in the corresponding quarter of the previous year. For the nine months 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 same period last year.
Consolidated figures reveal a net loss after tax of ₹35.42 crore for the quarter ended December 31, 2025, against a profit of ₹88.34 crore in the prior year's quarter. The nine-month period ended December 31, 2025, resulted in a consolidated net loss after tax of ₹29.29 crore, compared to a profit of ₹256.65 crore in the previous year.
The audit report highlights significant qualifications, particularly concerning the non-provision of interest on non-performing assets (NPAs) amounting to ₹37.98 crore for the standalone results and ₹49.55 crore for consolidated results for the quarter. For the nine-month period, the unprovided interest is ₹110.41 crore (standalone) and ₹144.06 crore (consolidated). The total understated liability due to this non-provision is substantial, ₹1026.92 crore for standalone and ₹1356.71 crore for consolidated figures, with material uncertainties regarding the going concern status of certain subsidiaries and joint ventures.
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