1:1 Bonus Share in FY24: LIC-backed multibagger penny stock at Rs 3.97, hit back-to-back upper circuits; PAT jumps over 100 per cent in Q1FY25
The stock is up by 59 per cent from its 52-week low of Rs 2.50 per share & gave multibagger returns of 510 per cent in just 3 years and a whopping 1,070 per cent in 5 years.
On Thursday, 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); hit 2 per cent upper circuit to Rs 3.97 per share from its previous closing of Rs 3.90 per share.
In the recent trading sessions, the stock has been hitting back-to-back upper circuits because the company announced stellar Quarterly Results (Q1FY25). Here are the details:
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.
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.
Earlier, the company received a major boost with Rs 210 million worth of fresh orders across their Infra and Agro segments. This signifies positive growth for the company, with the Infra segment receiving large orders for high-tensile TOR steel from Arochan Projects Pvt Ltd, strengthening Integra's position in the industry. The Agro segment also witnessed continued success with repeat orders from established clients, highlighting Integra's strong order book and client trust in their agricultural products.
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Notably, all these orders are classified as domestic spot orders, requiring immediate fulfilment within the current financial year's second quarter. Furthermore, Integra secured a landmark deal of 500 metric tons of rice valued at Rs 14.25 million for ITC Group's Agri Division. The stringent quality requirements and tight delivery window for this initial order underscore ITC's position as a major market player. This deal opens doors for a potentially long-term and significant business relationship between Integra Essentia and ITC Group.
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 59 per cent from its 52-week low of Rs 2.50 per share & gave multibagger returns of 510 per cent in just 3 years and a whopping 1,070 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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