1:1 Bonus Share: LIC-backed multibagger penny stock at Rs 3.65 – Company bags order worth Rs 14.25 million from ITC Ltd

The stock is up by 43 per cent from its 52-week low of Rs 2.55 per share & gave multibagger returns of 465 per cent in just 3 years and a whopping 860 per cent in 5 years.

Today, shares of Integra Essentia Ltd (IEL), a multibagger stock from the FMCG sector, supported by the insurance giant Life Insurance Corporation (LIC) (owns 1.06 per cent); gained 0.65 per cent to Rs 3.65 per share from its previous closing of Rs 3.64 with an intraday day high of Rs 3.65 and an intraday low of Rs 3.57. The company's shares saw a spurt in volume by more than 2 times on BSE.

In a major development for Integra Essentia Limited, the company has secured its first-ever order to supply 500 metric tons (MT) of Rice to the prestigious ITC Group's Agri Division. This initial order, valued at approximately INR 14.25 million, holds the potential for Integra Essentia to establish a long-term partnership as a supplier for the ITC conglomerate. The order specifies that the rice must meet specific quality requirements and be delivered within the next 15 days. For some context, ITC Group is a well-established conglomerate in India with a diversified portfolio across various sectors including FMCG, Hotels, and Agri-Business. It's worth noting that ITC's Agri-Business Division is one of the country's leading integrated players, heavily involved in the export and domestic trading of food grains (including rice, wheat, wheat flour, pulses, barley, and maize), feed ingredients (like soya meal), processed fruits (including fruit purees, concentrates, IQF/frozen fruits, and organic products), coffee, and marine products (including shrimps and prawns).

Also Read: Multibagger penny stock at Rs 2.06 & PAT zooms over 900 per cent: Board allocated 5,00,00,000 equity shares in conversion of warrants on a preferential basis!

About Integra Essentia Ltd

Integra Essentia Limited (IEL) is a diversified company providing essential goods and services for modern life across Food (including Agro products), Clothing (Textiles and Garments), Infrastructure materials and services, and Renewable Energy equipment. They aim to serve society and be a leading player, especially in Food Essentials, by offering these products at a reasonable cost. IEL is also committed to supplying materials and services for India's infrastructure needs. Additionally, they offer a wide range of products to enhance lifestyles, including health and nutrition products, clothing, and bulk materials. To achieve its growth strategy, IEL recently acquired a winery and a majority stake in a beverage company, capitalizing on the growing markets for consumable goods, wine, beer, and whiskey.

According to Quarterly Results (Q4FY24), the net sales increased by 50.4 per cent to Rs 93.31 crore and net profit increased by 733.8 per cent to Rs 5.92 crore compared to Q3FY24. 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.

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 43 per cent from its 52-week low of Rs 2.55 per share & gave multibagger returns of 465 per cent in just 3 years and a whopping 860 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.