Integra Switchgear Ltd Management Discussions

1. This section shall include discussion on the following matters within the limits set by the listed entitys competitive position:

a. Industry Structure and Developments:

Integra Switchgear Limited is engaged in the manufacture of Electrical Apparatus for Switches (Including Relays) as per the requirement/specifications of its various clients. The company is in manufacturing and supplying of Apparatus for Switches (Including Relays) meeting the standards of quality, design and specifications of its clients.

• Indian Electrical Materials and Spare parts Industry

The Indian Electrical Materials and Spare parts have observed strong growth over the past few years. Economic liberalization and rising income of middle class population have had a positive impact on consumer spending and consumption in both rural and urban areas. Indian consumer now spends a significant proportion of various electrical materials and spare parts.

• Developments:

As the Company has closed its entire business operations situated at 10, GIDC, Por Ramangamdi, Vadodara, Gujarat - 391243, there are no developments in the Company.

Management is actively working on reorganising its business and is working at various options and possibility.

b. Opportunities and Threats:

Opportunities: New elements involving new ways with understanding clients and exploring new markets and business models shall open new opportunities for us to build strategic relationship with clients. Our reliability and efficiency of the equipment and effective service are key factors for success in this highly competitive industry.

Threats: The Company has developed and implemented a risk management framework that includes identification of elements of risk, if any, which in the opinion of the Board may threaten the existence of the company and by adopting various factors such as risk identification, impact assessment, risk evaluation, risk reporting, risk disclosures, risk mitigation and reporting.

c. Segment-wise or product-wise performance:

The Company has only one segment of manufacturing food processing instruments / equipments.

d. Outlook:

• There was no turnover during the financial year 2022-23 and 2021-22 and there is net profit of Rs. 144.99 lac (after tax) due to profit on sale of assets during the year 2022-23 compared to loss of Rs. 24.61 lac (after tax) in previous year 2021-22.

e. Risks and concerns:

• Commodity Price Risk: Risk of price fluctuation on basic raw materials used in the process of manufacturing.

• Uncertain global economic environment - slow growth in global economy: Impact on demand.

• Interest Rate Risk: Any increase in interest rate can affect the finance cost

• Human Resources Risk: Your Companys ability to deliver value is dependent on its ability to attract, retain and nurture talent. Attrition and non-availability of the required talent resource can affect the overall performance of the Company

• Competition Risk: Every company is always exposed to competition risk.

• Compliance Risk: Increasing regulatory Requirements: Any default can attract penal provisions

• Industrial Safety, Employee Health and Safety Risk: The electrical engineering industry is exposed to accidents and injury risk due to human negligence.

f. Internal Control Systems

The Company has strengthened its internal control and audit aspects by appointing outside agency for internal audit of certain important aspects of operations, apart from usual transactional verifications. There are adequate checks and controls to ensure compliance of various statutes.

g. Financial performance

There was no turnover during the financial year 2022-23 and 2021-22 and there is net profit of Rs. 144.99 lac (after tax) due to profit on sale of assets during the year 2022-23 compared to loss of Rs. 24.61 lac (after tax) in previous year 2021-22.

h. Material developments in Human Resources / Industrial Relations front, including number of people employed:

During the year under review, the Company continued to have cordial and harmonious relations with its employees and total number of employees on payroll is 2.

i) Details of significant changes in financial ratio:

Details of significant changes (i.e. change of 25% or more as compared to the immediately previous financial year) in key financial ratios, along with detailed explanations therefore, including:

Particulars	F.Y. 2022-23	F.Y. 2021-22
(i) Debtors Turnover	0	0
(ii) Inventory Turnover	0	0
(iii) Interest Coverage Ratio	NA	NA
(iv) Current Ratio	6.66	0.53
(v) Debt Equity Ratio	0.12	0.40
(vi) Operating Profit Margin (%)	0	0
(vii) Net Profit Margin (%)	0	0

j. Details of any change in Return on Net Worth as compared to the immediately previous financial year along with a detailed explanation thereof."

Particulars	F.Y. 2022-23	F.Y. 2021-22
Return on Net Worth	0.73	-0.22

2. Disclosure of Accounting Treatment:

The financial statements for the year ended 31^st March, 2023 have been prepared as prescribed in accounting standards and there is no change in treatment of the said accounting standards. Therefore, no explanation by the management is required for the same.

By Order of the Board of Directors
Pankaj Jamnadas Vora	Jagesh Mahendrabhai Doshi
Whole Time Director cum CFO	Director
DIN:00259241	DIN:00259347
Date : 22-08-2023
Place : Regd. Office
102, Gharonda Appts, Indira Marg,
Navapura, Vadodara - 390010, Gujarat.