Integra Switch (517423)

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 0/2 · Dividend: 0/1

Key Financials

Strengths

• Book value is positive at ₹6.64 per share, so the company is not insolvent on a balance-sheet basis.
• Small market cap of ₹45 Cr leaves room for optionality if a genuine turnaround or asset monetisation occurs.
• The stock trades above its 52-week low of ₹102.60, indicating some visible market interest.
• No dividend obligation means no cash is leaking out while the company attempts to stabilise.

Concerns

• Sales growth of -100% and latest quarter sales of ₹0 Cr indicate the operating business has effectively stopped generating revenue.
• Negative ROE of -9.04%, zero ROCE, profit growth of -700%, and Piotroski F-Score of 2/9 point to severe financial deterioration.
• P/E of 1000 and P/B of 22.28 are grossly unsupported by earnings or the ₹6.64 book value.
• No dividend yield and undisclosed promoter holding reduce transparency and shareholder protection.

AI Analysis

Graham taught me to treat every purchase as a fractional ownership of a business. Here, there is no business to own. Integra Switch shows sales growth of -100%, and the latest quarter reports sales of ₹0 Cr and net profit of ₹-0 Cr. A P/E of 1000 is meaningless without dependable earnings, and paying 22.28 times book value of ₹6.64 per share is absurd when the company earns a negative 9.04% ROE. ROCE is 0.00%, profit growth has swung by -700%, and the Piotroski F-score is 2 out of 9. These are not signs of a moat; they are signs of a shell in trouble. There is no dividend to compensate me for waiting, and promoter holding is undisclosed, which raises governance doubt. Some might call this a turnaround candidate because of the tiny ₹45 Cr market cap, but a turnaround requires evidence of operations improving, not hope. I need a margin of safety. Here the price is far above book value and earnings are absent. This is not a value investment; it is a lottery ticket. I will not speculate with my money or yours. If the company can show real sales, a credible path to profit, and trustworthy management, I might revisit it. Until then, it sits in the too-hard pile. In Graham's words, an investment operation promises safety of principal and an adequate return. This promises neither. I pass.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer