Electric Equipment · Founded 1992 · www.integraindia.com · BSE 517423 · · ISIN INE0IPL01018
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Business
Integra Switchgear Ltd. operates in the Electric Equipment sector in India. Its core business involves the design, manufacturing, and sale of switchgear products. Switchgear refers to electrical apparatus used to control, protect, and isolate electrical circuits and equipment. This includes a range of devices such as circuit breakers, switches, fuses, relays, and associated control panels. The company likely caters to a diverse set of customers including industrial facilities, power utilities, commercial buildings, infrastructure projects, and residential developments, making money through direct sales and project-based installations of its electrical protection and distribution solutions.
Revenue Mix
Specific segment breakdown and revenue mix for Integra Switchgear Ltd. are not publicly available from the provided information. Generally, switchgear companies' revenue streams can be segmented by product type (e.g., Low Voltage Switchgear, Medium Voltage Switchgear), application (e.g., industrial, utility, building), or customer type. Without specific data, it is not possible to detail the contribution of various segments.
Industry
The Electric Equipment industry in India is characterized by significant demand driven by urbanization, industrialization, infrastructure development, and increasing power consumption. It is a competitive market with both large multinational players and numerous domestic manufacturers. Companies often compete on product quality, reliability, compliance with standards, pricing, customization capabilities, and after-sales service. Without specific information on Integra Switchgear Ltd.'s market share or strategic focus, its precise positioning relative to peers (e.g., premium, value, niche player) cannot be determined.
MOAT
Based on the limited information, specific durable competitive advantages (moats) for Integra Switchgear Ltd. are not evident. Potential moats in the switchgear industry can include:
Technical Expertise & R&D: Deep engineering capabilities for advanced, reliable, and custom solutions.
Brand Reputation & Trust: A long-standing history of quality and reliability, especially crucial in critical electrical infrastructure.
Certifications & Compliance: Adherence to stringent national and international safety and quality standards.
Distribution Network & Customer Relationships: Strong ties with industrial clients, utilities, and large contractors.
Cost Efficiency: Ability to produce at lower costs while maintaining quality.
Whether Integra Switchgear possesses these to a significant degree is unknown.
Growth Drivers
Key factors that can drive growth for Integra Switchgear Ltd. over the next 3-5 years include:
Infrastructure Development: Government initiatives in power, railways, smart cities, and manufacturing will drive demand for electrical equipment.
Industrial Expansion: Growth in manufacturing, data centers, and other industrial sectors requiring robust electrical infrastructure.
Increased Power Demand: Rising energy consumption across residential, commercial, and industrial segments necessitates new and upgraded grid infrastructure.
Renewable Energy Integration: Growth in solar and wind power projects requires specialized switchgear for connection to the grid.
Modernization & Replacement: Upgrading aging electrical infrastructure in existing buildings and industrial plants.
Risks
Key business risks include:
Economic Slowdown: A downturn in the Indian economy could reduce demand for industrial and infrastructure projects.
Raw Material Price Volatility: Fluctuations in prices of key raw materials (e.g., copper, steel, aluminum) can impact profitability.
Intense Competition: The presence of both large domestic and international players can lead to pricing pressures and margin erosion.
Technological Obsolescence: Rapid advancements in smart grid technologies and automation may require significant R&D investment to stay competitive.
Regulatory Changes: Changes in electrical safety standards, import/export policies, or environmental regulations could impact operations.
Project Delays: Delays in large infrastructure or industrial projects can affect order books and revenue recognition.
Management & Ownership
Specific details regarding the promoters, management team, and ownership structure of Integra Switchgear Ltd. are not available from the provided input. As a listed Indian company (INTEG.SWITCH), it is subject to regulatory disclosures regarding its ownership, and typically, promoter families hold significant stakes in such companies.
Outlook
Integra Switchgear Ltd. operates in a sector with significant long-term growth potential in India, driven by the country's ongoing economic development, urbanization, and energy infrastructure needs. The demand for reliable and efficient electrical protection and distribution systems is expected to remain robust. However, the company faces a competitive landscape, necessitating continuous innovation, cost management, and strong customer relationships to secure market share. Its future performance will depend on its ability to leverage industry tailwinds, differentiate its product offerings, manage operational efficiencies, and navigate potential economic volatilities and intense competition within the electric equipment market.
Price goes above X
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| #(Fig in Cr.) | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | 2 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | -0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | 2 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -0 | 2 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 |
| Adjustments | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | 2 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 |
| Adjusted Earnings Per Share | -0.9 | 7.4 | -0.8 | -0.2 | -0.3 | -0.4 | -0 | -0.1 | 0 | -0.2 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 2 | -0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 2 | -0 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 1 | -0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 1 | -0 | 0 | 0 |
| Adjusted Earnings Per Share | -0.4 | -0.5 | -0.6 | -0.2 | -0.3 | -0.3 | -0.6 | -0.4 | 5 | -0.7 | 0.1 | -0.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -2% | 213% | NA% | NA% |
| ROE Average | 1% | 34% | 12% | 1% |
| ROCE Average | 1% | 24% | 12% | 2% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| Total Liabilities | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 2 |
| Fixed Assets | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Total Assets | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 2 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 |
| Cash Flow from Operating Activities | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 2 | -0 | -0 |
| Cash Flow from Investing Activities | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 1 | 0 | 0 |
| Cash Flow from Financing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -0 | 0 |
| Net Cash Inflow / Outflow | 0 | 0 | -0 | 0 | 0 | 0 | -0 | -0 | 2 | -0 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 2 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.36 | -0.48 | -0.62 | -0.17 | -0.29 | -0.34 | -0.62 | -0.42 | 5.03 | -0.75 | 0.05 |
| CEPS(Rs) | -0.36 | -0.48 | -0.62 | -0.17 | -0.29 | -0.34 | -0.62 | -0.42 | 5.03 | -0.75 | 0.05 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 5.18 | 4.7 | 4.08 | 3.91 | 3.3 | 2.96 | 2.34 | 1.92 | 6.96 | 6.21 | 6.26 |
| Core EBITDA Margin(%) | -1041.92 | -712.48 | -1022.44 | -229.69 | -526.28 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT Margin(%) | -1037.39 | -711.71 | -1021.75 | -163.13 | -526.28 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre Tax Margin(%) | -1039.05 | -718.94 | -1022.63 | -164.06 | -526.92 | 0 | 0 | 0 | 0 | 0 | 0 |
| PAT Margin (%) | -1039.05 | -718.94 | -1022.63 | -164.06 | -526.92 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Profit Margin (%) | -1039.05 | -718.94 | -1022.63 | -164.06 | -526.92 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROA(%) | -6.21 | -7.85 | -10.41 | -2.98 | -4.65 | -5.28 | -9.41 | -6.41 | 65.93 | -9.04 | 0.7 |
| ROE(%) | -6.78 | -9.71 | -14.12 | -4.33 | -7.7 | -10.77 | -23.38 | -19.59 | 113.33 | -11.37 | 0.84 |
| ROCE(%) | -6.3 | -7.92 | -10.59 | -3 | -4.69 | -5.31 | -6.64 | -6.38 | 79.78 | -7.24 | 0.83 |
| Receivable days | 0 | 9697.66 | 0 | 6096.47 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 2943.84 | 1497.62 | 806.04 | 4.19 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 548.98 | 271.98 | 24.33 | 384.85 | 4666.79 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.04 | 0 | 2794.85 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.75 | 14.85 | 23.4 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 308.42 | 168.82 | 191.56 | 112.32 | 225.17 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Core EBITDA(x) | -29.73 | -23.72 | -18.75 | -68.85 | -42.79 | -38.05 | -33.01 | -33.52 | -0.22 | -167.12 | 2505.67 |
| Net Sales Growth(%) | -23.28 | 90.53 | -9.1 | 73.91 | -51.25 | -100 | 0 | 0 | 0 | 0 | 0 |
| EBIT Growth(%) | -28 | -30.71 | -30.5 | 72.24 | -57.28 | -18.15 | -28.97 | 4.24 | 1455.51 | -109.18 | 110.87 |
| PAT Growth(%) | -27.64 | -31.83 | -29.3 | 72.1 | -56.57 | -18.25 | -83.85 | 32.62 | 1304.32 | -114.88 | 107 |
| EPS Growth(%) | -27.65 | -31.83 | -29.3 | 72.1 | -64.87 | -18.24 | -83.84 | 32.62 | 1304.38 | -114.88 | 107 |
| Debt/Equity(x) | 0.16 | 0.28 | 0.4 | 0.48 | 0.58 | 0.89 | 1.25 | 1.68 | 0.01 | 0 | 0 |
| Current Ratio(x) | 2.35 | 1.52 | 1.07 | 0.98 | 0.86 | 0.73 | 0.6 | 0.53 | 6.05 | 6.7 | 15.48 |
| Quick Ratio(x) | 2.04 | 1.34 | 1.07 | 0.97 | 0.86 | 0.73 | 0.6 | 0.53 | 6.05 | 6.7 | 15.48 |
| Interest Cover(x) | -627.04 | -98.41 | -1160.55 | -174 | -821 | -485 | -2.33 | -199.67 | 0 | -1491 | 14.73 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 56.17 | 56.17 | 62.24 | 68.6 | 68.6 | 68.6 | 68.6 | 68.6 | 68.6 | 68.6 |
| FII | 0 | 0 | 0 | 0.06 | 0.06 | 0.06 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 43.83 | 43.83 | 37.76 | 31.34 | 31.34 | 31.34 | 31.4 | 31.4 | 31.4 | 31.4 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.16 | 0.16 | 0.18 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.13 | 0.13 | 0.11 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | — | — |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | -2% | +213% | — | — |
| ROE Average | +1% | +34% | +12% | +1% |
| ROCE Average | +1% | +24% | +12% | +2% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 56.17 | 56.17 | 62.24 | 68.6 | 68.6 | 68.6 | 68.6 | 68.6 | 68.6 | 68.6 |
| FII | 0 | 0 | 0 | 0.06 | 0.06 | 0.06 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 43.83 | 43.83 | 37.76 | 31.34 | 31.34 | 31.34 | 31.4 | 31.4 | 31.4 | 31.4 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.16 | 0.16 | 0.18 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.13 | 0.13 | 0.11 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
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