Electrotherm Defaults on ₹59.81 Cr Loan Payments

Electrotherm (India) Limited has disclosed a default on payment of interest and principal for term and working capital loans amounting to ₹59.81 Crore as of September 30, 2026. The default is with Invent Assets Securitisation & Reconstruction Private Limited, the assignee of debts from Allahabad Bank (now Indian Bank) and Punjab National Bank. The total outstanding principal on these obligations was ₹180.00 Crore with an 11% interest rate over an 11-year tenure. The company's total outstanding borrowings from banks and financial institutions stood at ₹983.98 Crore, with total financial indebtedness at ₹997.42 Crore as of the same date. Electrotherm notes that these figures are provisional and subject to confirmation, and that they have entered into a settlement with the ARC for outstanding loans.