ELECTROTHERM (INDIA) LIMITED (ELECTHERM): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹656.35 latest close · −45.3% over the last 90 sessions

₹656.35 month-end · −22.8% over 12 months

₹656.35 month-end · +202.6% over 3 years

₹656.35 month-end · +340.2% since Jan '19

52-week range ₹551.00 to ₹1277.00 · 1-year volatility 60.8%

How rough has the ride been?

Maximum drawdown-85.5%recovered 2024-01

1-year volatility60.8%annualised

Beta vs sector index0.583-year daily, correlation 0.23

Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-85.5% (2019-05 peak to 2023-03 low, recovered 2024-01)

-61.3% (2024-12 peak to 2026-03 low, not yet recovered)

-26.9% (2024-11 peak to 2024-11 low, recovered 2024-12)

Most recent volume spikes

2026-09-28: 6.3x the 50-day median, price -7.6% that day

2026-09-11: 20.5x the 50-day median, price +1.4% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Non-Energy Minerals peers?

Each cell is the company's percentile rank among its Non-Energy Minerals peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE10th▼ 85 pts vs a year ago
Op. margin11th▼ 12 pts vs a year ago
Revenue growth18th▲ 5 pts vs a year ago
EPS growth4th▼ 39 pts vs a year ago
Cash cycle ↓74th▼ 3 pts vs a year ago
P/E ↓93rd▼ 7 pts vs a year ago
12M momentum34th▼ 11 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹656.35
ROCE: 0.0%
Market Cap: ₹837 cr
Revenue (TTM): ₹3771 cr
P/S: 0.2x
Operating Margin: 2.5%
Promoter Holding: 29.9%
12M Momentum: -22.8%

52-week range

₹551.00₹1277.00

15% of the way from its 52-week low to its high

Price risk

1Y volatility

60.8%

Beta vs sector

1-year daily

1.03

Balance sheet & cash

Interest cover

operating profit ÷ interest

-1.4x

Cash from profit, 3Y

operating cash flow ÷ net profit

1.39x

Share count, 1Y

unchanged

Are profits backed by cash?

5 of 5checks within rangeAll clear

Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion1.39xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.39x (cash from operations ₹1,031 cr, net profit ₹743 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+3 daysWithin range

Debtor days are above the median of the previous three fiscal years by 3 days (26 vs 23). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress22% of fixed assetsWithin range

Capital work-in-progress is 22% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+13 days / 2 yrsWithin range

Days payable changed by +13 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, FIIs added 4.3 pts; promoters trimmed 1.2 pts; DIIs added 0.7 pts.
The number of shareholders rose from 7,916 to 8,907 (+13%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters31.0%29.9%-1.2 pts

FIIs4.9%9.3%+4.3 pts

DIIs0.1%0.8%+0.7 pts

Public and others63.9%60.1%-3.8 pts

Number of shareholders

8,907shareholders+13% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+13.4%typical 12-month return vs the marketAbove the base rate

We found 50 past situations where a non-financial company looked like ELECTROTHERM (INDIA) LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −12% to +65% vs the market, against −1% for all non-financial companies in the same months.
The analogs' median sat above that base rate (gap +14.6%, 80% range +1.5% to +41.2%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 5 beyond the range shown, drawn at the edge

Similar setups' median

+13.4%

All companies' median

−1.2%

Beat the market

62% vs 49%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
SPENCERS Retail Trade	Nov 2024	—	-10%	+10%	−37%	−48%
MARALOVER Process Industries	Apr 2024	—	1%	+29%	−26%	−11%
MCLEODRUSS Consumer Non-Durables	Aug 2023	—	1%	+2%	−34%	−31%
SHEMAROO Consumer Services	Jul 2025	—	-9%	−27%	−44%	−4%
INDORAMA Process Industries	May 2020	—	-8%	−60%	−65%	+128%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
RML Producer Manufacturing	Nov 2020	—	-1%	−6%	−35%	+2%
NECLIFE Health Technology	Apr 2022	—	3%	+14%	−39%	−35%
BAJAJHIND Process Industries	Feb 2023	—	0%	−7%	−43%	+84%

How reliable is this?

Matched on P/S, ROCE, operating margin, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and ROCE. Not used (unavailable for this company): P/E and debt/equity. This company is loss-making, so it was only compared with loss-making companies. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to ELECTROTHERM (INDIA) LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

ASIAN GRANITO INDIAASIANTILES

Producer Manufacturing

65%similar

revenue growthROCE

CAMLIN FINE SCIENCESCAMLINFINE

Process Industries

57%similar

volatilityoperating margin

RICO AUTO INDUSTRIESRICOAUTO

Producer Manufacturing

55%similar

volatilityoperating margin

BIRLANUBIRLANU

Producer Manufacturing

48%similar

revenueROCE

SOM DISTILLERIES N BREWERIES LSDBL

Consumer Non-Durables

46%similar

revenue growthoperating margin

RAMA STEEL TUBESRAMASTEEL

Non-Energy Minerals

36%similar

operating marginpromoter holding

JTL INDUSTRIESJTLIND

Non-Energy Minerals

34%similar

volatilityrevenue

MSP STEEL & POWERMSPL

Non-Energy Minerals

23%similar

revenuerevenue growth

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since May '23

2026
SepInstitutionsFII + DII holding rose 3.4 pts over 1 quarter to 10.1%.
SepPriceVolume reached 20.5x its 50-day median on 2026-09-11; price +1.4% that day.
JunResultsEPS (TTM) turned negative.
JunPeer rankSlipped to the bottom quartile of Non-Energy Minerals on ROCE (from the top quartile).
JunPriceVolume reached 73.0x its 50-day median on 2026-06-10; price +12.6% that day.
AprValuationP/E crossed above the 90th percentile of its own history to date (6.6x).
MarPriceFell 61% from the Dec 2024 peak to the Mar 2026 low.
MarPeer rankSlipped to the bottom quartile of Non-Energy Minerals on EPS growth (from the 3rd quartile).

Show 22 earlier events

2026
JanPriceVolume reached 56.3x its 50-day median on 2026-01-05; price +7.1% that day.
2025
DecPriceVolume reached 54.3x its 50-day median on 2025-12-23; price +10.5% that day.
SepResultsYear-on-year EPS growth turned negative.
SepPeer rankSlipped to the bottom quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
SepPriceVolume reached 11.0x its 50-day median on 2025-09-12; price -2.2% that day.
JunPeer rankMoved into the top quartile of Non-Energy Minerals on EPS growth (from the bottom quartile).
AprPriceVolume reached 15.7x its 50-day median on 2025-04-25; price +2.0% that day.
JanPriceVolume reached 7.7x its 50-day median on 2025-01-24; price +4.4% that day.
2024
DecPriceRegained the 2024-11 peak, 1 month after the low.
DecPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
NovPriceFell 27% from the Nov 2024 peak to the Nov 2024 low.
NovPriceVolume reached 23.1x its 50-day median on 2024-11-13; price -3.9% that day.
SepPeer rankMoved into the 2nd quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
JulPriceVolume reached 6.8x its 50-day median on 2024-07-26; price +2.0% that day.
JunResultsEPS (TTM) turned positive.
JunPeer rankMoved into the top quartile of Non-Energy Minerals on ROCE (from the 3rd quartile).
JunPriceVolume reached 16.9x its 50-day median on 2024-06-03; price -5.0% that day.
JanPriceRegained the 2019-05 peak, 10 months after the low.
JanPriceVolume reached 16.1x its 50-day median on 2024-01-08; price +2.0% that day.
2023
DecPriceVolume reached 15.5x its 50-day median on 2023-12-14; price +1.9% that day.
JunPeer rankMoved into the 3rd quartile of Non-Energy Minerals on ROCE (from the bottom quartile).
MayPriceVolume reached 56.6x its 50-day median on 2023-05-31; price +6.0% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history95 months · 2019-01 to 2026-11

Month	P/E	Revenue (TTM)	ROCE
2026-11	—	₹3771 cr	0.0%
2026-10	—	₹3771 cr	0.0%
2026-09	—	₹3771 cr	0.0%
2026-08	—	₹3692 cr	0.0%
2026-07	—	₹3692 cr	0.0%
2026-06	—	₹3692 cr	0.0%
2026-05	7.2x	₹3713 cr	32.0%
2026-04	6.6x	₹3713 cr	32.0%
2026-03	4.5x	₹3713 cr	32.0%
2026-02	3.3x	₹3891 cr	32.0%
2026-01	3.7x	₹3891 cr	32.0%
2025-12	4.0x	₹3891 cr	32.0%
2025-11	3.0x	₹3890 cr	32.0%
2025-10	3.5x	₹3890 cr	32.0%
2025-09	3.5x	₹3890 cr	32.0%
2025-08	2.5x	₹4115 cr	32.0%
2025-07	2.7x	₹4115 cr	32.0%
2025-06	3.4x	₹4115 cr	32.0%
2025-05	3.7x	₹4172 cr	40.0%
2025-04	4.3x	₹4172 cr	40.0%
2025-03	3.0x	₹4172 cr	40.0%
2025-02	2.6x	₹4228 cr	40.0%
2025-01	2.7x	₹4228 cr	40.0%
2024-12	4.1x	₹4228 cr	40.0%
2024-11	3.2x	₹4399 cr	40.0%
2024-10	3.1x	₹4399 cr	40.0%
2024-09	3.1x	₹4399 cr	40.0%
2024-08	4.0x	₹4272 cr	40.0%
2024-07	3.7x	₹4272 cr	40.0%
2024-06	3.2x	₹4272 cr	40.0%
2024-05	—	₹3074 cr	10.0%
2024-04	—	₹3074 cr	10.0%
2024-03	—	₹3074 cr	10.0%
2024-02	—	₹3074 cr	10.0%
2024-01	—	₹3074 cr	10.0%
2023-12	—	₹3074 cr	10.0%
2023-11	—	₹3074 cr	10.0%
2023-10	—	₹3074 cr	10.0%
2023-09	—	₹3074 cr	10.0%
2023-08	—	₹3074 cr	10.0%
2023-07	—	₹3074 cr	10.0%
2023-06	—	₹3074 cr	10.0%
2023-05	—	₹2831 cr	0.0%
2023-04	—	₹2831 cr	0.0%
2023-03	—	₹2831 cr	0.0%
2023-02	—	₹2831 cr	0.0%
2023-01	—	₹2831 cr	0.0%
2022-12	—	₹2831 cr	0.0%
2022-11	—	₹2831 cr	0.0%
2022-10	—	₹2831 cr	0.0%
2022-09	—	₹2831 cr	0.0%
2022-08	—	₹2831 cr	0.0%
2022-07	—	₹2831 cr	0.0%
2022-06	—	₹2831 cr	0.0%
2022-05	2.7x	₹2518 cr	9.0%
2022-04	3.1x	₹2518 cr	9.0%
2022-03	2.9x	₹2518 cr	9.0%
2022-02	2.9x	₹2518 cr	9.0%
2022-01	3.4x	₹2518 cr	9.0%
2021-12	3.6x	₹2518 cr	9.0%
2021-11	3.0x	₹2518 cr	9.0%
2021-10	3.1x	₹2518 cr	9.0%
2021-09	3.0x	₹2518 cr	9.0%
2021-08	3.2x	₹2518 cr	9.0%
2021-07	3.8x	₹2518 cr	9.0%
2021-06	4.4x	₹2518 cr	9.0%
2021-05	6.4x	₹3212 cr	2.0%
2021-04	5.8x	₹3212 cr	2.0%
2021-03	5.9x	₹3212 cr	2.0%
2021-02	6.3x	₹3212 cr	2.0%
2021-01	5.8x	₹3212 cr	2.0%
2020-12	6.0x	₹3212 cr	2.0%
2020-11	5.4x	₹3212 cr	2.0%
2020-10	4.8x	₹3212 cr	2.0%
2020-09	5.3x	₹3212 cr	2.0%
2020-08	5.9x	₹3212 cr	2.0%
2020-07	5.2x	₹3212 cr	2.0%
2020-06	6.1x	₹3212 cr	2.0%
2020-05	—	₹4040 cr	13.0%
2020-04	—	₹4040 cr	13.0%
2020-03	—	₹4040 cr	13.0%
2020-02	1.1x	₹4040 cr	13.0%
2020-01	1.2x	₹4040 cr	13.0%
2019-12	1.1x	₹4040 cr	13.0%
2019-11	1.2x	₹4040 cr	13.0%
2019-10	1.2x	₹4040 cr	13.0%
2019-09	1.2x	₹4040 cr	13.0%
2019-08	1.4x	₹4040 cr	13.0%
2019-07	1.7x	₹4040 cr	13.0%
2019-06	2.2x	₹4040 cr	13.0%
2019-05	138.1x	₹2927 cr	1.0%
2019-04	108.1x	₹2927 cr	1.0%
2019-03	77.9x	₹2927 cr	1.0%
2019-02	72.8x	₹2927 cr	1.0%
2019-01	64.3x	₹2927 cr	1.0%

Methodology and data notes