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Dossier · SWITCHING TECHNOLOGIES GUNTHER · 6 November 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
SWITCHING TECHNOLOGIES GUNTHER BSE: 517201
Industrials › Capital Goods › Electrical Equipment › Other Electrical Equipment
SWITCHING TECHNOLOGIES GUNTHER
StateQ1 FY27 filed
Last close · 6 Nov 2026₹134.30
Market cap₹0.0k cr
TTM P/E · P/B · EV/EBITDA5.0 · — · —
The company operates in the electrical equipment industry, classified under capital goods / other electrical equipment, with FY26 revenue of Rs. 8.2472 crore and net profit of Rs. 6.5522 crore. Filings disclose FY26 revenue from operations of Rs. 192.77 lakhs and flag material uncertainty over the going concern assumption, with accumulated losses of Rs. 1,535.18 lakhs fully eroding net worth and current liabilities exceeding current assets by Rs. 733.64 lakhs. The cost structure is dominated by employee expenses at 90.4% of revenue and materials at 76.8% of revenue, with capex at just 0.5% of revenue. A complete change of control occurred when old promoter Guenther America Inc. sold its entire 37.63% stake, and the new promoter group (Touristas Horizons, BBU Enterprises, Nikhil Pujari) together holds 58.27%. The board approved a Business Transfer Agreement to sell the existing business to Canolli Manufacturing Pvt Ltd for Rs. 425 lakhs, with Rs. 300 lakhs already received as partial payment. The new promoters have also approved 100% share-swap acquisitions of Tekfoods International (FMCG, FY25 turnover Rs. 18.16 cr) and Samridh Overseas Trading (FY25 turnover Rs. 149.65 cr) for a combined Rs. 237.43 cr, pending shareholder approval at the August 2026 EGM. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Existing electrical equipment business, Planned FMCG business via Tekfoods International acquisition, Planned overseas trading via Samridh Overseas Trading acquisition. BSE-listed entity in other electrical equipment undergoing change of control and business pivot, with going-concern uncertainty flagged by the board
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · standalone
FY22
FY23
FY24
FY25
FY26
Revenue
11
12
9
8
8
EBITDA (ex other income)
(7)
11
(4)
(7)
7
margin %
(66.1)
98.9
(41.8)
(85.9)
80.1
Owners' profit
(7)
11
(3)
(7)
7
EPS, as reported (₹)
(26.97)
36.59
(13.03)
(27.30)
26.74
ROE % · ROCE %
64.0 · 87.6
(838.4) · 391.3
56.2 · 8290.6
52.2 · 101.3
(111.5) · (527.9)
Debt / equity (x)
0.00
0.00
0.00
0.00
0.00
Cash from operations
0
0
0
0
0
Capex
(0)
(0)
(0)
(0)
(0)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · SWITCHING TECHNOLOGIES GUNTHER · 6 November 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
2
2
2
2
2
2
2
1
Profit before tax
(2)
(2)
(1)
(2)
(2)
(2)
12
(2)
Net profit
(2)
(2)
(1)
(2)
(2)
(2)
12
(2)
EPS (₹)
(7.81)
(7.26)
(5.58)
(6.84)
(7.13)
(8.61)
49.33
(6.91)
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
WAAREE ENERGIES LIMITED
70,129
19.0
4.05
12.2
9.5
10.2
—
17.8
APAR INDUSTRIES LTD.
59,204
41.4
6.95
31.6
10.7
13.1
29.1
10.4
PREMIER ENERGIES LIMITED
40,402
22.5
7.42
17.9
17.2
14.0
—
28.0
DIAMOND POWER INFRA LTD
22,072
72.8
28.89
109.8
21.8
6.2
—
11.2
EMMVEE PHOTOVOLTAIC PWR L
17,402
12.1
3.96
10.0
17.4
16.1
—
35.3
MTAR TECHNOLOGIES LIMITED
16,759
125.6
20.37
100.0
11.4
12.4
28.9
23.6
AVALON TECHNOLOGIES LTD
12,614
94.3
17.48
73.4
15.6
20.0
—
12.0
GENUS POWER INFRASTRU LTD
8,697
12.1
3.92
11.8
26.7
22.7
50.8
19.0
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
5.0
22.5
7 of 51
88%
EBITDA margin
(183.0)
11.1
54 of 54
0%
Revenue growth
(53.8)
24.0
47 of 48
2%
Profit growth
(0.9)
28.3
28 of 46
40%
Market cap
33
609
51 of 56
9%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · SWITCHING TECHNOLOGIES GUNTHER · 6 November 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
2 Nov 2026 · Board meeting to approve September 2026 quarterly and half-year results
results
low
—
—
8 Oct 2026 · Routine SEBI Reg 74(5) compliance filing for Q2 FY27
compliance
minimal
—
—
26 Sept 2026 · AGM results: all 7 resolutions passed with near-unanimous majority
11 Sept 2026 · Board to approve new CFO, Company Secretary and director changes
management changes
medium
—
—
26 Aug 2026 · 38th AGM Notice published; Book Closure from 18 to 24 September 2026
compliance
minimal
—
—
26 Aug 2026 · Annual report resubmitted under BSE compliance category
compliance
minimal
—
—
25 Aug 2026 · 38th AGM notice and annual report filed for FY2025-26
board shareholder meetings
medium
—
—
25 Aug 2026 · Annual Report FY26 filed; profit only from one-time gain
results
high
—
—
19 Aug 2026 · AGM on 24 Sept 2026; book closure 18-24 Sept
board shareholder meetings
low
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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Estimate years marked E
More audited years; no estimates
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
