Multibagger penny stock under Rs 10: This micro-cap company receives orders worth Rs 120 million for supplying premium rice & cashew nuts!

The stock gave multibagger returns of 380 per cent in just 2 years and over 740 per cent in 3 years.

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 290 crore.

The company announced that it has bagged fresh orders valued at about Rs 120 million. The company has won these orders from renowned business leading houses including Himalayan Bio Organic Foods, Sarveshwar Overseas Limited and for supplying premium rice and cashew nuts to Ayush International an established exporter.

The company will complete servicing these current orders within the month of September 2023 whereas, with the completion of these orders, the company will hit the targeted Rs 600 million of sales during the Q2 and gross sales of Rs 1,170 million during the current financial year, so far. The company is eying to achieve Rs 2,700 million in sales during this current financial year registering a growth of about 15 per cent as compared to the last fiscal year.

Integra Essentia Limited also has plans to fuel the growth by diversifying the product portfolio while also exploring opportunities to strengthen the core via acquisitions/mergers which are at different stages of consideration/negotiations.

According to the Quarterly Results, the company reported a net profit in the first quarter of the fiscal year 2024 at Rs 1.18 crore, up more than 100 per cent from the corresponding period of the previous fiscal. The company posted a net profit of Rs 0.58 crore in Q1FY23. The company's total income in the June 2023 quarter increased to Rs 56.3 crore from Rs 55.9 crore a year ago period, up 0.72 per cent.

According to the annual results, the net sales increased by 171 per cent to Rs 241 crore and net profit skyrocketed 600 per cent to Rs 7 crore in FY23 over FY22.

On Wednesday, shares of Integra Essentia plunged 1.24 per cent to Rs 6.35 per share from its previous closing of Rs 6.43 with an intraday high of Rs 6.59 and intraday low of Rs 6.20. The stock gave multibagger returns of 380 per cent in just 2 years and over 740 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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