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 & DEVELOPMENTS

Integra switchgear limited specializes in manufacturing electrical switchgear and relays to client specifications. following the closure of operations at its Vadodara facility, management is evaluating reorganization strategies and exploring alternative business models.

B. OPPORTUNITIES & THREATS

Opportunities include tapping new geographic markets, forging strategic partnerships, and leveraging our reputation for reliability and service threats stem from competitive pressures, raw-material price volatility, and execution risks, all managed through our risk identification, assessment, mitigation, and reporting framework.

C. SEGMENT PERFORMANCE

The company operates in a single segment-electrical switchgear manufacturing?and recorded no turnover in FY 2024-25.

D. OUTLOOK

During the financial year 2024-25, the Company reported a net profit of 51.51 lakhs (after tax), marking a significant turnaround from the net loss of 521.57 lakhs (after tax) recorded in the previous financial year. This positive shift reflects the initial impact of the restructuring measures undertaken by the management.

The Company remains committed to its ongoing restructuring and strategic realignment initiatives aimed at restoring long-term profitability and operational efficiency. Management continues to monitor key cost centers and streamline operations to ensure sustainable financial performance going forward.

E. RISKS & 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

The Company recorded no turnover during the financial years 2024-25 and 2023-24. Despite the absence of revenue, the financial performance showed a notable improvement. The Company reported a net profit of 51.51 lakhs (after tax) for FY 2024-25, as compared to a net loss of 521.57 lakhs (after tax) in the previous financial year.

This turnaround is indicative of the Companys focused efforts on cost optimization and strategic restructuring, aimed at enhancing overall financial health and setting the foundation for future growth.

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 1.

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. 2024-25	F.Y. 2023-24
1. Debtors Turnover	0	0
2. Inventory Turnover	0	0
3. Interest Coverage Ratio	NA	NA
4. Current Ratio	15.46	6.70
5. Debt Equity Ratio	NA	NA
6. Op. profit margin (%)	0	0
7. Net Profit Margin (%)	11.68%	-415.90%

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. 2024-25	F.Y. 2023-24
Return on Net Worth	0.00	-0.11

2. DISCLOSURE OF ACCOUNTING TREATMENT:

The financial statements for the year ended 31st March, 2025 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
Upveen Harpal	Baljit Singh
Whole Time Director cum CFO Director	Director
DIN: 06800217	DIN: 00711152
Date: 06-08-2025
Place: Vadodara
Registered Office: 3rd Floor, Fortune Tower, Sayajigunj, Vadodara, Gujarat,
India, 390020