Electrotherm (India) Limited (ELECTHERM) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Electrotherm (India) Limited ₹2,179, price ₹873, upside +149.5%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹52.45 – ₹1,435 · fair‑value band ₹1,553 – ₹2,894 · the ₹873.35 price screens below the ₹2,179 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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Electrotherm (India) Limited, an engineering and steel company, provides steel melting solutions worldwide. It operates through Engineering & Technologies, Special Steel, Electric Vehicle, and Others segments. The company designs and manufactures steel plants equipment, foundries, induction heating, and hardening equipment for heat treatment.
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Electrotherm (India) Limited, an engineering and steel company, provides steel melting solutions worldwide. It operates through Engineering & Technologies, Special Steel, Electric Vehicle, and Others segments. The company designs and manufactures steel plants equipment, foundries, induction heating, and hardening equipment for heat treatment. It also engages in the manufacture of TMT bars and ductile iron pipes, including blast furnaces, sponge iron kilns, induction furnaces, rolling mills, ladle refining furnace, and pipe making facilities. In addition, the company provides solar photovoltaic rooftop and ground-mounted solutions to industrial and commercial sectors. Further, it offers induction furnace, casting machines, transformers, sponge and pig iron, ferrous and non-ferrous billets/bars/ingots, duct iron pipes, transmission line towers, and battery operated vehicles; and services related to steel melting and other capital equipment. The company was founded in 1983 and is headquartered in Ahmedabad, India.
Stock analysis
Electrotherm (India) Limited (ELECTHERM) currently trades at ₹873.35, while our model-based Fair Value estimate is ₹2,179, implying the stock looks roughly 59.9% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ₹2,585 per share, and 8 of the 9 models we run sit above the ₹873.35 price.
Bear case: the Multiples group reads lowest at ₹508.77, and 1 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹1,553 (bear) to ₹2,894 (bull), the price of ₹873.35 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 40/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Electrotherm (India) Limited reported revenue of ₹36.9B in FY2026 versus ₹28.2B in FY2022, a compound +7.0%/yr. Reported net income was −₹157M in FY2026.
Key figures
Market cap ₹14.4B (≈ $150M) · P/S ratio 0.39 · EPS (TTM) ₹−12.31 · Net margin −0.4% · Return on assets (EBIT) 16.2% · Operating margin 1.2% · Revenue (TTM) ₹36.9B · Revenue growth (YoY) −1.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 57% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at 149%, ELECTHERM screens cheaper than that median.
Fair Value models
Bear ₹1,553Fair Value ₹2,179Bull ₹2,894
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.42/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−10.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.0%
Start year 2021 (pandemic). Over 10 years: +5.8% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.4%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
4.2% (2021) → 0.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about −0.6% a year for the price.
Compare Electrotherm (India) Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Steel · 411 stocks
Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside+149.5% · Top 25%
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets0.0% · Bottom 25%
Net margin (TTM)−0.4% · Bottom 25%
Operating margin (TTM)1.2% · Below median
Growth and dividend
Revenue growth−1.8% · Below median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Steel median · lower = cheaper
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/FCF0.1× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)100· sector 20
FUTURE (revenue growth)0· sector 10
PAST (return on equity)0· sector 17
HEALTH (low debt)0· sector 95
DIVIDEND (yield)0· sector 49
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Electrotherm (India) Limited (ELECTHERM) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹2,179 versus a price of ₹873.35, about +149% upside (undervalued).
What is the fair value of ELECTHERM?
Our model-based fair value for Electrotherm (India) Limited is ₹2,179 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹873.35.
What is the quality score of ELECTHERM?
Electrotherm (India) Limited has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Electrotherm (India) Limited (ELECTHERM)?
Our model-based price target is the fair value of ₹2,179 (as of Sep 27, 2026) from 9 valuation models. Cautious scenario ₹1,553, optimistic scenario ₹2,894. It is a calculation from audited fundamentals, not an analyst target.
What is the Electrotherm (India) Limited stock forecast for 2026?
Our models put fair value at ₹2,179, about +149% upside versus a price of ₹873.35 (undervalued). Cautious scenario ₹1,553, optimistic scenario ₹2,894. The calculation is refreshed regularly with new filings.
What is the revenue of Electrotherm (India) Limited (ELECTHERM)?
Electrotherm (India) Limited reported trailing-twelve-month revenue of about ₹36.9B (latest available figure, as of Sep 27, 2026).
What growth is priced into Electrotherm (India) Limited (ELECTHERM)?
For today's price to be fair in a discounted-cash-flow model, Electrotherm (India) Limited would have to grow free cash flow by +3.6 % per year for five years (discount rate 14.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.0 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of ELECTHERM use?
Our models discount Electrotherm (India) Limited at 14.3 %: a base by market capitalisation (micro), damped by beta 0.72, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Electrotherm (India) Limited that is +3.6 % per year a year over ten years, using the same discount rate (14.3 %) and the same formula as our fair value.
How much growth has Electrotherm (India) Limited (ELECTHERM) delivered so far?
Over the past 5 years revenue at Electrotherm (India) Limited grew +8.0 % a year. The price currently implies +3.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Electrotherm (India) Limited (ELECTHERM) growing?
The median revenue growth in the sector is +5.1 % a year. That is the yardstick for the growth priced into Electrotherm (India) Limited (+3.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Electrotherm (India) Limited (ELECTHERM)?
The free-cash-flow yield on the price is 20.84 %: that much free cash flow Electrotherm (India) Limited produces per unit of market value. When it exceeds the discount rate of our models (14.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Electrotherm (India) Limited (ELECTHERM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Electrotherm (India) Limited it is ₹2,179 per share (as of Sep 27, 2026), against a price of ₹873.35. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Electrotherm (India) Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, ELECTHERM trades below its calculated fair value: price ₹873.35, fair value ₹2,179, a gap of about +149% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ELECTHERM?
No. The price is what the market pays today (₹873.35); the fair value is what the company's own numbers justify (₹2,179). For Electrotherm (India) Limited the two are ₹1,305 per share apart. That gap is exactly why we show both numbers side by side.
How much is Electrotherm (India) Limited worth?
The market values Electrotherm (India) Limited at about ₹14.4B (market capitalisation, as of Sep 27, 2026). Per share that is ₹873.35; our models calculate a fair value of ₹2,179 per share.
What do the bullish and bearish scenarios say about ELECTHERM?
Our models span a range for Electrotherm (India) Limited: cautious scenario ₹1,553, base ₹2,179, optimistic ₹2,894 per share (as of Sep 27, 2026, price ₹873.35). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Electrotherm (India) Limited (ELECTHERM)?
Balance-sheet figures for Electrotherm (India) Limited (as of Sep 27, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is ELECTHERM from its 52-week high?
Electrotherm (India) Limited trades at ₹873.35, about 29% below its 52-week high of ₹1,231 and 57% above the low of ₹555.35 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2,179 is for.
Which stocks are comparable to Electrotherm (India) Limited?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Electrotherm (India) Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹873.35, calculated fair value ₹2,179 (+149%), Quality Score 40/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ELECTHERM calculated?
We run Electrotherm (India) Limited through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹2,179, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9 % above its aggregate fair value. Electrotherm (India) Limited currently trades 149 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Electrotherm (India) Limited (ELECTHERM)?
The closing price on Sep 25, 2026 was ₹873.35. Our model-based fair value is ₹2,179, about +149% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Electrotherm (India) Limited right now?
The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (₹1,553). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (₹1,553 to ₹2,894) leaves room in how you read the outcome.
Key figures of Electrotherm (India) Limited
How large is the market capitalisation of Electrotherm (India) Limited (ELECTHERM)?
The market capitalisation of Electrotherm (India) Limited is ₹14.4B (≈ $150M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Electrotherm (India) Limited (ELECTHERM)?
The price-to-sales ratio of Electrotherm (India) Limited is 0.39 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Electrotherm (India) Limited (ELECTHERM)?
Earnings per share at Electrotherm (India) Limited are ₹−12.31. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Electrotherm (India) Limited (ELECTHERM)?
The net margin of Electrotherm (India) Limited is −0.4% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Electrotherm (India) Limited (ELECTHERM)?
On an EBIT basis the return on assets of Electrotherm (India) Limited is 16.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Electrotherm (India) Limited (ELECTHERM)?
The operating margin of Electrotherm (India) Limited is 1.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Electrotherm (India) Limited (ELECTHERM)?
Revenue at Electrotherm (India) Limited is growing −1.8% versus a year earlier (3y avg +6.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Electrotherm (India) Limited (ELECTHERM)?
Earnings per share at Electrotherm (India) Limited are growing −92.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Electrotherm (India) Limited (ELECTHERM) carry?
The net debt of Electrotherm (India) Limited is ₹9.7B (fiscal year 2026, ≈ 4.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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