Electrotherm for those who are recommending buy:1) Company has a negative networth of Rs.1260 crores as on 2017-18 as per Annual report2) As per segment report electric vehicle division is in continous losses and is accounting for only 1% of revenue of the
company as on 31/12/18 results.3) Company is a declared Non performing Asset by all the banks and may have to face bankruptcy and go in NCLT if it continues to default. As per audit report though company claims to have entered in to one time settlement with 80% lenders/banks there has been no enteries passed in books till date to give effect to it means OTS havve not been agreed.4) even if company has booked profit of Rs.46 crores in Q3 it will take 6 years to turn the negative networth of Rs.1264 crores to become positive.Till than stay away and monitor quarterly results for some major positives.
