LIC-backed penny stock under Rs 10 with 2,000 per cent returns: This micro-cap company bags new orders worth Rs 12,10,00,000!

LIC-backed penny stock under Rs 10 with 2,000 per cent returns: This micro-cap company bags new orders worth Rs 12,10,00,000!

Kiran Shroff

The stock gave multibagger returns of 460 per cent in just 2 years and a whopping 2,000 per cent in 3 years.

Integra Essentia Limited announced that the company has bagged fresh orders collectively amounting to Rs 12,10,00,00 for premium dry fruit (cashew nuts) along with the infrastructure materials division for ERW steel pipes and hr coils. The company has been working on long-term associations with several prestigious customers/consumers eying an overall growth of 15-20 per cent during the current Fiscal Year (on a Year-on-Year basis) and is expecting to achieve or even exceed the targeted revenue numbers during FY23-24.

The orders have been bagged from:

  1. Sharvari Steel Limited.
  2. Advance Steel Tubes Limited.
  3. Rajasthan Tube Manufacturing Co. Limited.
  4. Aayush International.
  5. Luv Multitude India Pvt Ltd.

Earlier, the company bagged advance orders amounting to Rs 150+ million 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.

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 plunged 0.84 per cent to Rs 7.05 per share with an intraday high of Rs 7.15 and an intraday low of Rs 6.7. The stock gave multibagger returns of 460 per cent in just 2 years and a whopping 2,000 per cent in 3 years.

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

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