LIC-backed penny stock under Rs 10 with 1,500 per cent returns: This micro-cap company bags new orders worth Rs 18,00,00,000 from Sarveshwar Foods Ltd!

The stock gave multibagger returns of 400 per cent in just 2 years and a whopping 1,500 per cent in 3 years.

Integra Essentia Limited announced that the company has bagged a fresh new order amounting to about Rs 18,00,00,000 for supplying Premium Rice from Sarveshwar Foods Limited and its subsidiaries i.e., Saveshwar Overseas Limited & Himalayan Bio Organic Foods Pvt Ltd. The order will be completed in the current fiscal year i.e., by March 31, 2024.

Earlier, the company bagged advance orders amounting to Rs 15,00,00,000 from one of India’s premier business houses Sarveshwar Foods Limited, and its material subsidiary Himalayan Bio Orgainc Foods Limited (Sarveshwar Group). The order will be completed in the current fiscal year i.e., by March 31, 2024.
The company has secured substantial orders totalling Rs 12,10,00,00 for both premium dry fruit (cashew nuts) and infrastructure materials such as ERW steel pipes and HR coils. This significant achievement is a testament to the company's commitment to building long-term relationships with prestigious customers and consumers.

By leveraging these partnerships, the company is well-positioned to achieve its ambitious growth target of 15-20 per cent during the current fiscal year and potentially even surpass its revenue projections for FY23-24. Notably, these orders were received from a diverse group of esteemed clients, including Sharvari Steel Limited, Advance Steel Tubes Limited, Rajasthan Tube Manufacturing Co. Limited, Aayush International, and Luv Multitude India Pvt Ltd.

Integra Essentia Limited is aiming at synergetic integrations/amalgamations to tap into the business potential embedded in the ever-growing demand for life essentials and a wide variety of life essentials and lifestyle products, based on the modern business approach of sourcing, producing and marketing of wide range of bulk and speciality materials and services.

bonus Issue: The company will issue bonus shares in the ratio of 1:1, meaning that for every 1 equity share of Rs 1 held by an eligible shareholder on the record date, the shareholder will receive 1 additional bonus share of Rs 1. The record date to determine eligible shareholders will be announced separately.

Fund Raising: The company plans to issue and allot securities to raise funds for an aggregate amount of up to Rs 100 crore. This may be done through a variety of methods, including a preferential allotment, QIP, ADR, GDR, FCCB, or any other method or combination thereof. Each tranche will not exceed Rs 50 crore. The terms of the issuance will be decided by the Board or a duly constituted committee of the Board at a later date.

Results: The company's consolidated financial performance improved significantly in Q2FY24 and H1FY24 compared to the same periods in the previous fiscal year. The company's revenue grew by 17.11 per cent in Q2FY24 and 7.79 per cent in H1FY24. EBITDA increased by 420.98 per cent in Q2FY24 and 407.23 per cent in H1FY24, and PAT increased by 248 per cent in Q2FY24 and 217 per cent in H1FY24. According to the annual results, the net sales increased by 171 per cent to Rs 24,141.41 lakh and net profit skyrocketed 600 per cent to Rs 666.67 lakh in FY23 over FY22. These results indicate that the company is performing well and is on track to achieve its financial goals.

Integra Essentia Ltd is in the business of life essentials viz., food (agro products), clothing (textiles and garments), infrastructure (materials and services for construction and infrastructure development) and energy (materials, products and services for renewable energy equipment and projects). The company has a market cap of Rs 322 crore. As of September 2023, Life Insurance Corporation of India (LIC) owns a 1.06 per cent stake in the company.

Today, shares of Integra Essentia Ltd gained 1.13 per cent to Rs 6.25 per share with an intraday high of Rs 6.55 and an intraday low of Rs 6.22. The stock gave multibagger returns of 400 per cent in just 2 years and a whopping 1,500 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.