Multibagger penny stock under Rs 10 with 1,275 per cent returns: This micro-cap company reports a 246 per cent jump in net profit!

The stock gave multibagger returns of 390 per cent in just 2 years and a whopping 1,275 per cent in 3 years.

Today, one of the Top Gainers on BSE, shares of Integra Essentia Ltd hit 5 per cent upper circuit to Rs 6.45 per share from its previous closing of Rs 6.15 and saw a spurt in volume by more than 5 times on BSE. The stock gave multibagger returns of 390 per cent in just 2 years and a whopping 1,275 per cent in 3 years.

The sudden rise in the stock price was due to the company announced stellar Quarterly Results and half-yearly results. Here are the details:

According to the quarterly results, the net sales increased by 17 per cent to Rs 6,689.71 lakh and the net profit skyrocket by 246 per cent to Rs 752.29 lakh in Q2FY24 compared to Q2FY23.

According to the half-yearly results, the net sales increased by 8 per cent to Rs 12,189.55 lakh and the net profit increased by 218 per cent to Rs 871.09 lakh in H1FY24 compared to H1FY23.

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.

Earlier on September 20, 2023, the Boards of Directors of G G Engineering Ltd and Integra Essentia Ltd, two publicly traded micro-cap companies listed on the BSE Limited, met to discuss a possible merger. The boards granted in-principle approval for the merger, which they believe would create a larger and stronger entity. The merger would also allow the companies to pool their resources and expertise, and offer a wider range of products and services to their customers.

The boards authorized the companies' officers to evaluate the merger in consultation with advisors, including Price Waterhouse & Co LLP, a Big 4 Advisory Firm. In addition, the boards approved the redemption of debentures that were issued by Integra Essentia Ltd in 2013. The debentures will be redeemed for a lump-sum payment of Rs 1,50,00,000.

Furthermore, the company has bagged fresh orders valued at about Rs 120 million in Q2FY24. 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.

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.

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 295 crore.

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