Multibagger penny stock under Rs 5: This micro-cap company's net profit more than doubled in first quarter of FY24!

Multibagger penny stock under Rs 5: This micro-cap company's net profit more than doubled in first quarter of FY24!

Kiran Shroff
/ Categories: Trending, Penny Stocks

The stock gave multibagger returns of 310 per cent in just 2 years and over 1,100 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 260 crore.

The company announced its Quarterly Results (Q1FY24) ended June 30, 2023. Details below:

Integra Essentia 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.

It is also exploring expanding its business through acquisitions of operational facilities and is in the advanced stages of studying, comparing and finalising the acquisition of processing facilities under its long-term plan. The company recently acquired Chateau Indage Winery assets in Maharashtra for Rs 40 crore.

Additionally, last year, the company acquired a substantial interest in a rice processing facility located in Bareilly, Uttar Pradesh through a joint-venture agreement. The company holds a 66 per cent stake in the JV agreement.

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On Friday, shares of Integra Essentia zoomed 1.41 per cent to Rs 5.75 per share from its previous closing of Rs 5.67. The stock gave multibagger returns of 310 per cent in just 2 years and over 1,100 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. 

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