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Last Updated: April 2, 2026, 2:52 am
Author: Getaka|Social: XLinkedIn

Electrotherm (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹220.67Overvalued by 61.82%vs CMP ₹578.00

P/E (14.9) × ROE (15.0%) × BV (₹121.00) × DY (2.00%)

Defaults: ROE=15%

₹1,126.04Undervalued by 94.82%vs CMP ₹578.00
MoS: +48.7% (Strong)Confidence: 50/100 (Moderate)Models: 5 Under, 2 Fair
ModelCategoryValueWeightSignal
PE-ROEEarnings₹605.2824%Fair (+4.7%)
Graham NumberEarnings₹577.6918%Fair (-0.1%)
Earnings PowerEarnings₹933.2314%Under (+61.5%)
DCFCash Flow₹2,086.8914%Under (+261.1%)
EV/EBITDAEnterprise₹1,694.7312%Under (+193.2%)
Earnings YieldEarnings₹1,225.8010%Under (+112.1%)
Revenue MultipleRevenue₹1,615.817%Under (+179.6%)
Consensus (7 models)₹1,126.04100%Undervalued
Key Drivers: EPS CAGR 174.3% lifts DCF — verify sustainability.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 174.3% · Defaults: ROE=15%

*Investments are subject to market risks

Investment Snapshot

53
Electrotherm (India) Ltd scores 53/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health55/100 · Moderate
ROCE 31.6% ExcellentROE 0.0% WeakD/E -1.00 Low debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money70/100 · Strong
FII holding up 1.35% (6mo) AccumulatingPromoter holding at 29.9% Stable
Earnings Quality65/100 · Strong
OPM expanding (4% → 10%) Improving
Quarterly Momentum15/100 · Weak
Revenue (4Q): -8% YoY DecliningProfit (4Q): -26% YoY DecliningOPM: -1.0% (down 9.0% YoY) Margin pressure
Industry Rank65/100 · Strong
P/E 14.9 vs industry 35.5 Cheaper than peersROCE 31.6% vs industry 37.7% Average3Y sales CAGR: 13% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:52 am

Market Cap 736 Cr.
Current Price 578
Intrinsic Value₹1,126.04
High / Low 1,280/550
Stock P/E14.9
Book Value 121
Dividend Yield0.00 %
ROCE31.6 %
ROE%
Face Value 10.0
PEG Ratio0.09

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Electrotherm (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Electrotherm (India) Ltd 736 Cr. 578 1,280/55014.9 1210.00 %31.6 %% 10.0
BMW Industries Ltd 640 Cr. 28.4 59.8/26.19.75 33.61.51 %13.3 %10.5 % 1.00
Axtel Industries Ltd 612 Cr. 379 550/33524.7 77.23.17 %19.8 %14.4 % 10.0
Artson Engineering Ltd 517 Cr. 140 217/125 0.710.00 %24.6 %124 % 1.00
Lokesh Machines Ltd 418 Cr. 209 256/138226 1130.00 %4.87 %0.26 % 10.0
Industry Average3,678.83 Cr421.0935.53118.780.36%37.74%16.87%6.04

All Competitor Stocks of Electrotherm (India) Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 7476151,0339319851,1371,2181,0598141,0811,161834814
Expenses 7355779268608941,0111,0879277469741,097782826
Operating Profit 12381077291126131132671076452-12
OPM % 2%6%10%8%9%11%11%12%8%10%6%6%-1%
Other Income 11-340202115310911
Interest 1719192213818141212887
Depreciation 12121212121211111111121111
Profit before tax -167423968107104109598815334-28
Tax % 0%0%0%0%0%0%0%0%0%0%-21%18%-24%
Net Profit -167423968107104109598818628-22
EPS in Rs -12.535.7432.6230.3652.9984.0381.6485.4146.6769.33145.5721.78-16.97

Last Updated: January 1, 2026, 9:04 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 31, 2026, 2:00 am

MetricMar 2014n n n 6mMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 7652,0482,1012,2592,9274,0403,2122,5182,8313,0744,2724,1153,713
Expenses 9842,3622,1332,1982,7793,7373,0832,2982,7452,9403,8523,7443,640
Operating Profit -220-314-32611493031292208613441937273
OPM % -29%-15%-2%3%5%8%4%9%3%4%10%9%2%
Other Income -253819204947-305128112
Interest 10101453819544567604628
Depreciation 721591541481491431341218849474444
Profit before tax -326-481-180-9131422449-40-12317410112
Tax % -1%-0%0%0%1%0%0%0%-0%0%-0%-8%
Net Profit -322-480-180-9131422449-40-12317442156
EPS in Rs -280.49-416.71-156.72-71.622.32111.3218.9138.84-31.67-9.28249.03346.98122.58
Dividend Payout % -0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)62.50%49.44%103.30%4633.33%-83.10%104.17%-181.63%70.00%2741.67%39.43%
Change in YoY Net Profit Growth (%)0.00%-13.06%53.85%4530.04%-4716.43%187.27%-285.80%251.63%2671.67%-2702.23%

Electrotherm (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:5%
3 Years:13%
TTM:-12%
Compounded Profit Growth
10 Years:10%
5 Years:176%
3 Years:115%
TTM:-38%
Stock Price CAGR
10 Years:38%
5 Years:50%
3 Years:116%
1 Year:-12%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Last Updated: September 5, 2025, 3:25 am

Balance Sheet

Last Updated: December 4, 2025, 1:12 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 11111113131313131313131313
Reserves -608-1,085-1,265-1,379-1,375-1,235-1,106-1,055-1,095-1,109-794-172-167
Borrowings 3,2453,1973,1863,0732,8512,6162,2942,2342,0871,9861,7701,2871,170
Other Liabilities 353354368512671775720705741862852790958
Total Liabilities 3,0022,4772,3002,2192,1602,1691,9201,8971,7451,7521,8411,9181,974
Fixed Assets 1,6061,4571,3211,1181,027949825738698638613601614
CWIP 232121221729282733264498114
Investments 0027777788888
Other Assets 1,3739989571,0731,1081,1841,0601,1241,0071,0811,1771,2121,238
Total Assets 3,0022,4772,3002,2192,1602,1691,9201,8971,7451,7521,8411,9181,974

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 46725258161344181225179107351329
Cash from Investing Activity + -3-5-42-25-46-675-62-14-2-68-72
Cash from Financing Activity + -40-46-12-52-106-262-203-104-189-103-294-303
Net Cash Flow 321-1-19915-1758-242-11-46
Free Cash Flow 4163352611126616818413990283273
CFO/OP -21%-23%-166%97%109%114%140%102%210%81%85%89%

Free Cash Flow

MonthMar 2014n n n 6mMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-220.00-317.00-35.0058.00147.00301.00127.00218.0084.00133.00418.00371.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1945746494630364022251923
Inventory Days 23373688678707811096917677
Days Payable 1034766908260729368605260
Cash Conversion Cycle 3248348464141435850564240
Working Capital Days -1,069-245-165-127-113-80-87-142-202-192-81-57
ROCE %-20%-9%-4%1%13%2%9%0%10%40%32%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 31.04%31.04%31.04%31.04%31.04%31.04%30.69%29.90%29.90%29.90%29.90%29.90%
FIIs 4.94%4.94%4.94%4.94%4.95%4.99%4.81%4.61%4.54%4.60%5.06%5.89%
DIIs 0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.39%1.01%0.97%0.85%
Public 63.95%63.95%63.94%63.94%63.93%63.89%64.43%65.42%65.17%64.49%64.07%63.36%
No. of Shareholders 10,41310,2239,0577,9167,4867,8068,7308,7569,2008,7039,0109,445

Shareholding Pattern Chart

No. of Shareholders

Electrotherm (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 347.06249.08-9.28-31.6938.85
Diluted EPS (Rs.) 347.06249.08-9.28-31.6938.85
Cash EPS (Rs.) 381.70285.7129.3237.31133.45
Book Value[Excl.RevalReserv]/Share (Rs.) -124.63-613.12-860.45-849.58-818.19
Book Value[Incl.RevalReserv]/Share (Rs.) -124.63-613.12-860.45-849.58-818.19
Revenue From Operations / Share (Rs.) 3230.273352.822412.912222.381976.50
PBDIT / Share (Rs.) 298.12332.92110.6872.98175.85
PBIT / Share (Rs.) 263.27296.2672.063.9981.23
PBT / Share (Rs.) 321.63249.06-9.28-31.6938.84
Net Profit / Share (Rs.) 346.86249.06-9.29-31.6938.83
NP After MI And SOA / Share (Rs.) 347.06249.08-9.28-31.6838.85
PBDIT Margin (%) 9.229.924.583.288.89
PBIT Margin (%) 8.158.832.980.174.10
PBT Margin (%) 9.957.42-0.38-1.421.96
Net Profit Margin (%) 10.737.42-0.38-1.421.96
NP After MI And SOA Margin (%) 10.747.42-0.38-1.421.96
Return on Networth / Equity (%) -278.46-40.620.000.00-4.74
Return on Capital Employeed (%) 148.37-251.74-11.06-0.72-783.42
Return On Assets (%) 23.0417.23-0.67-2.312.60
Long Term Debt / Equity (X) -2.22-0.77-0.22-0.33-0.97
Total Debt / Equity (X) -8.08-2.27-1.81-1.93-1.00
Asset Turnover Ratio (%) 2.192.381.781.551.32
Current Ratio (X) 0.660.550.400.380.53
Quick Ratio (X) 0.310.240.180.160.27
Inventory Turnover Ratio (X) 6.805.034.114.073.35
Interest Coverage Ratio (X) 8.347.052.102.054.15
Interest Coverage Ratio (Post Tax) (X) 8.076.281.370.111.92
Enterprise Value (Cr.) 2278.712396.971982.592156.861090.55
EV / Net Operating Revenue (X) 0.550.560.640.760.43
EV / EBITDA (X) 6.005.6514.0623.204.87
MarketCap / Net Operating Revenue (X) 0.250.160.020.050.05
Price / BV (X) -6.73-0.88-0.06-0.13-0.13
Price / Net Operating Revenue (X) 0.250.160.020.050.05
EarningsYield 0.410.45-0.16-0.280.34

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Electrotherm (India) Ltd. is a Public Limited Listed company incorporated on 29/10/1986 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L29249GJ1986PLC009126 and registration number is 009126. Currently company belongs to the Industry of Engineering - General. Company's Total Operating Revenue is Rs. 4115.37 Cr. and Equity Capital is Rs. 12.74 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Engineering - GeneralA-1, Skylark Apartment, Ahmedabad Gujarat 380015Contact not found
Management
NamePosition Held
Mr. Dinesh MukatiNon Exe.Chairman&Ind.Director
Mr. Shailesh BhandariExecutive Vice Chairman
Mr. Suraj Shailesh BhandariManaging Director
Mr. Tushar JaniWhole Time Director
Ms. Nivedita SardaIndependent Director
Mr. Pratap MohanIndependent Director

FAQ

What is the intrinsic value of Electrotherm (India) Ltd and is it undervalued?

As of 14 April 2026, Electrotherm (India) Ltd's intrinsic value is ₹1126.04, which is 94.82% higher than the current market price of ₹578.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (%), book value (₹121), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Electrotherm (India) Ltd?

Electrotherm (India) Ltd is trading at ₹578.00 as of 14 April 2026, with a FY2026-2027 high of ₹1,280 and low of ₹550. The stock is currently near its 52-week low. Market cap stands at ₹736 Cr..

How does Electrotherm (India) Ltd's P/E ratio compare to its industry?

Electrotherm (India) Ltd has a P/E ratio of 14.9, which is below the industry average of 35.53. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Electrotherm (India) Ltd financially healthy?

Key indicators for Electrotherm (India) Ltd: ROCE of 31.6 % indicates efficient capital utilization; ROE of % is below ideal levels (industry average: 16.87%). Dividend yield is 0.00 %.

Is Electrotherm (India) Ltd profitable and how is the profit trend?

Electrotherm (India) Ltd reported a net profit of ₹442 Cr in Mar 2025 on revenue of ₹4,115 Cr. Compared to ₹-40 Cr in Mar 2022, the net profit shows an improving trend.

Does Electrotherm (India) Ltd pay dividends?

Electrotherm (India) Ltd has a dividend yield of 0.00 % at the current price of ₹578.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Electrotherm (India) Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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