1:1 Bonus Share: LIC-backed multibagger penny stock under Rs 5 jumps over 7 per cent; Here’s why!
The stock is up by 64 per cent from its 52-week low of Rs 2.50 per share & gave multibagger returns of 490 per cent in just 3 years and a whopping 1,075 per cent in 5 years.
On Monday, shares of Integra Essentia Ltd, a multibagger stock from the FMCG sector, supported by the insurance giant Life Insurance Corporation (LIC) (owns 1.06 per cent); jumped over 7 per cent to Rs 4.10 per share from its intraday low of Rs 3.81 per share.
Integra Essentia Limited has secured a substantial order worth Rs 280 million from domestic entities Sarveshwar Foods Limited, Sarveshwar Overseas Limited, Shree Arihant Agro Industries, Aayush International, Ssparsh Cashew Industries Private Limited, and Desi Construction Pvt Ltd for its Agro and Infrastructure businesses. This achievement underscores the company's reputation for quality and reliability, evident in the repeat business from valued clients. The orders, classified as spot orders, require adherence to specified material standards and are scheduled for completion by October 2024. This significant business win propels Integra Essentia Limited towards its financial goals, benefiting all stakeholders while reinforcing the company's commitment to excellence in service and product delivery.
According to Quarterly Results (Q1FY25), the net sales increased by 56.5 per cent to Rs 86.06 crore, operating profit increased by 52.3 per cent to Rs 4.09 crore and net profit increased by 111.8 per cent to Rs 2.36 crore compared to Q1FY24. In its annual results, the net sales increased by 50.4 per cent to Rs 277.27 crore and net profit increased by 131.4 per cent to Rs 15.28 crore in FY24 compared to FY23.
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Integra Essentia Limited (IEL) is a multifaceted company that caters to the essential needs of modern life. Their business spans across four core sectors: food, clothing, infrastructure, and energy. Within these sectors, IEL offers a wide range of products and services, including agro products, textiles and garments, construction materials, renewable energy equipment, and more. They are committed to providing these essentials at an affordable cost to the end user. IEL is particularly focused on establishing itself as a leader in the food industry. They are investing heavily in this sector to ensure they can meet the growing demands of society and the nation.
The company in its board meeting held on January 13, 2024, considered and approved the allotment of 45,70,33,003 bonus equity shares to the existing shareholders in the ratio of 1:1, the same has been allocated to the shareholders on January 13, 2024. Expenses incurred with the Increase in authorised capital & bonus issue of Rs 90.25 lakh have been capitalised and adjusted from other equity during the year ended 31 March 2024.
The stock is up by 64 per cent from its 52-week low of Rs 2.50 per share & gave multibagger returns of 490 per cent in just 3 years and a whopping 1,075 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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