Integra Switchgear Ltd (517423)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Integra Switchgear's revenue was ₹0.0 Cr, and net profit ₹-0.1 Cr; the operating margin was -514.6%.
| Q1 FY27 (₹ Cr) | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | — | +51.0% |
| Operating profit | ₹-0.1 | — | loss narrowed |
| Net profit | ₹-0.1 | — | loss narrowed |
| EPS (₹) | -0.27 | — | loss narrowed |
| Operating margin | -514.6% | — | — |
📢 Recent Corporate Announcements
Shareholders of Integra Switchgear have approved the acquisition of a 95.00% stake in South Korea-based Magnatech Co. Ltd for ₹298.67 crore via a share swap. To fund this, the company will issue up to 19,91,16,000 equity shares at ₹15 per share (swap ratio 1:12), causing massive equity dilution. Additionally, the AGM approved a preferential allotment of 26,66,667 equity shares at ₹15 per share (aggregating ₹4.00 crore) to Independent Director JrMichael Joseph Commiskey. Magnatech operates in advanced battery and ESS manufacturing, recording CY2025 turnover of ₹44.65 crore ($4.7 million) compared to Integra's near-zero revenue base.
- 95.00% stake (1,65,93,000 shares) acquired in Magnatech Co. Ltd for ₹298.67 crore on a share swap basis
- Swap ratio set at 1:12: 19,91,16,000 equity shares to be issued at ₹15 per share to Magnatech shareholders
- Separate preferential cash issue of 26,66,667 equity shares at ₹15 per share to raise ₹4.00 crore from Independent Director JrMichael Joseph Commiskey
- Target company reported CY2025 turnover of ₹44.65 crore ($4.7 million), down from $6.67 million in CY2023
- Promoter shareholding post-issuance projected at 50.17% (10,26,80,900 shares) and public at 49.83%
Integra Switchgear Limited issued a corrigendum to its FY 2025-26 Annual Report to rectify typographical errors in the Directors' Responsibility Statement and Form AOC-1. The company clarified that these corrections carry no material financial misstatements or impacts on reported statements. In the Annual Report notice, the company also proposed to expand its Authorised Share Capital massively from Rs 4.00 crore to Rs 225.00 crore, alongside outlining strategic plans to acquire South Korea-based MagnaTech on a non-cash basis.
- Corrigendum issued for typographical errors on Page 46 (Directors' responsibility statement) and Page 135 (Form AOC-1 Part B).
- Proposed increase in Authorised Share Capital from Rs 4,00,00,000 to Rs 2,25,00,00,000 (divided into 22.50 crore shares of Rs 10 each).
- Company completed 100% acquisition of Bimal Switchgear Private Limited in December 2025.
- Proposed acquisition of MagnaTech (Republic of Korea) planned on a non-cash consideration basis.
- Statutory auditor remuneration revision proposed up to Rs 1,00,000 per annum from FY 2026-27.
Integra Switchgear's board has approved the acquisition of a 95.00% stake in South Korea-based Magnatech Co. Ltd for ₹298.67 Cr through a share swap. To fund this, the company will issue up to 19.91 crore equity shares at ₹15 per share (a swap ratio of 12:1). Magnatech, which manufactures NMC and LFP battery cells and ESS solutions, reported CY2025 turnover of ₹44.65 Cr ($4.70M). Additionally, the company will issue 26.67 lakh shares at ₹15 to an Independent Director and raise its authorized capital from ₹4 Cr to ₹225 Cr, subject to shareholder approval on September 30, 2026.
- Acquisition of 95.00% stake in South Korea-based Magnatech Co. Ltd valued at ₹298.67 Cr via share swap
- Issuance of up to 19,91,16,000 equity shares at ₹15 per share (swap ratio of 12:1)
- Magnatech achieved turnover of ₹44.65 Cr ($4.70M) in CY2025 in battery cell (NMC/LFP) and ESS manufacturing
- Authorised capital to be increased from ₹4 Cr to ₹225 Cr to facilitate the transaction
- Separate preferential issue of 26,66,667 equity shares at ₹15/share (₹4 Cr) to Independent Director JrMichael Commiskey
Integra Switchgear's Board approved the acquisition of a 95.00% stake in South Korea-based Magnatech Co. Ltd via a share swap by issuing up to 19,91,16,000 equity shares at Rs 15 per share (valued at ~Rs 298.67 Cr). To facilitate this, the authorized share capital will be expanded from Rs 4 Cr to Rs 225 Cr. Additionally, 26,66,667 shares (~Rs 4.0 Cr) will be issued to Independent Director Mr. JrMichael Joseph Commiskey at Rs 15 per share. Both proposals are subject to shareholder approval at the AGM on September 30, 2026.
- Approved acquisition of 95.00% stake (1,65,93,000 shares) in Magnatech Co. Ltd (South Korea) on a share swap basis.
- Issuance of up to 19,91,16,000 equity shares at Rs 15 per share for the acquisition consideration (~Rs 298.67 Cr).
- Authorized share capital proposed to be raised from Rs 4.00 Cr to Rs 225.00 Cr.
- Preferential allotment of up to 26,66,667 shares to Independent Director Mr. JrMichael Joseph Commiskey at Rs 15 per share.
- AGM scheduled for September 30, 2026 to seek shareholder approval.
Integra Switchgear Ltd has scheduled a Board of Directors meeting on August 31, 2026, to consider raising funds via a preferential issue of equity shares or securities on a private placement basis. The board will also evaluate increasing the company's authorized share capital and approving the draft Directors' Report for FY 2025-26. With the company operating at very low quarterly revenue (Rs 0.0151 Cr in Jun 2026) and a net worth of Rs 2 Cr, any equity infusion could significantly impact capital structure and operations.
- Board meeting scheduled for Monday, 31st August, 2026
- Agenda includes raising funds via preferential issue under SEBI ICDR regulations
- Proposal to recommend an increase in the Authorized Share Capital
- Appointment of CS Ruchita Patel & Associates as scrutinizer for upcoming AGM
Integra Switchgear reported zero revenue from core operations for the quarter ended June 30, 2026. The company generated a small 'Other operating income' of Rs 1.51 lacs, which was insufficient to cover consolidated expenses of Rs 9.32 lacs. Consequently, the company posted a consolidated net loss of Rs 7.82 lacs, slightly narrower than the Rs 8.07 lac loss in the year-ago period. With a net worth of only Rs 2 Cr, persistent losses and lack of sales remain significant concerns.
- Net Sales from operations remained at Rs 0 for the quarter ended June 30, 2026
- Consolidated net loss for the quarter stood at Rs 7.82 lacs
- Total consolidated expenses were Rs 9.32 lacs, with 'Other Expenses' accounting for Rs 9.28 lacs
- Other operating income increased to Rs 1.51 lacs from Rs 0.88 lacs in June 2025
- Standalone net loss for the period was Rs 6.80 lacs
Integra Switchgear continues to report zero revenue from operations for the quarter ended June 30, 2026. The company recorded a consolidated net loss of Rs 7.82 lakhs, a marginal improvement from the Rs 8.07 lakh loss in the year-ago period. Total income was limited to Rs 1.51 lakhs, derived entirely from other operating sources rather than core sales. With a market capitalization of Rs 45 crore against a net worth of only Rs 2 crore, the company's valuation remains disconnected from its operational performance.
- Net Sales from operations remained at Rs 0.00 for the quarter ended June 30, 2026
- Consolidated net loss for the quarter stood at Rs 7.82 lakhs compared to a loss of Rs 8.07 lakhs YoY
- Other operating income increased to Rs 1.51 lakhs from Rs 0.88 lakhs in the same quarter last year
- Total consolidated expenses were Rs 9.32 lakhs, primarily consisting of other administrative costs
- Loss per share (EPS) for the quarter was recorded at Rs -0.27
Integra Switchgear Ltd has announced that its Board of Directors will meet on July 22, 2026. The primary agenda is to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. This is a routine regulatory filing as per SEBI requirements. Investors should note the company's stock has seen a 38.6% price return over the last six months leading up to this earnings announcement.
- Board meeting date set for July 22, 2026
- Financial results to be reviewed for the quarter ended June 30, 2026
- Meeting will cover both standalone and consolidated financial statements
- Announcement made on July 17, 2026, providing 5 days' notice
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