LIC-Backed Multibagger Penny Stock under Rs 10 with 17,400 Per Cent Returns, Jumps 8 Per Cent in Just 1 Day with Heavy Volume; Complete Details Inside!
The stock gave multibagger returns of 110 per cent from its 52-week low of Rs 2.50 per share, 600 per cent in just 3 years and a whopping 17,400 per cent in 5 years.
On Wednesday, 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); gained 8.24 per cent to an intraday high of Rs 5.25 per share from its previous closing of Rs 4.85 per share with a spurt in volume by more than 3 times on BSE.
Update: Integra Essentia Limited (the Company) provides an update on the proposed amalgamation with G G Engineering Limited (Transferor Company). The Board of Directors has approved modifications to the previously announced Scheme of Arrangement following suggestions from BSE Limited. These modifications primarily involve reclassifying the promoters of the Transferor Company as public shareholders within the Transferee Company upon the amalgamation's completion. Additionally, the Board has incorporated other minor clerical changes to the Scheme. It is important to note that all other terms and conditions of the Scheme previously approved by the Board remain unchanged. The revised Scheme will be submitted to the stock exchanges for necessary approvals. In parallel, the Company has constituted a dedicated committee to comprehensively evaluate and address matters related to the amalgamation process.
Order Bagged: Recently, Integra Essentia Limited has secured substantial orders worth Rs 280 million from domestic entities Sarveshwar Foods Limited, Sarveshwar Overseas Limited, Shree Arihant Agro Industries, Aayush International, Ssparsh Cashew Industries Private Limited, and Desi Construction Pvt Ltd for its Agro and Infrastructure businesses. This achievement underscores the company's reputation for quality and reliability, evident in the repeat business from valued clients. The orders, classified as spot orders, require adherence to specified material standards and are scheduled for completion by October 2024. This significant business win propels Integra Essentia Limited towards its financial goals, benefiting all stakeholders while reinforcing the company's commitment to excellence in service and product delivery.
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Results: 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.
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 gave multibagger returns of 110 per cent from its 52-week low of Rs 2.50 per share, 600 per cent in just 3 years and a whopping 17,400 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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