Penny stock backed by Life Insurance Corporation Limited jumped 4 percent in the day’s trade after it announced the record date for the bonus issue of shares of the company in the ratio of 1:1.
At 1:08 p.m the shares of Integra Essentia Limited were trading at Rs. 7.30, up 4.29 percent from its previous day’s close price of Rs. 7 and its market capitalization is Rs. 333 Crores. Life Insurance Corporation Limited holds a 1.06 percent stake in the company.
The board of directors of Integra Essentia Limited has declared the bonus issue of the shares of the company in the ratio of 1:1 where 1 bonus share will be issued to 1 equity share held and has fixed January 11, 2024, as the record date to be eligible for the bonus issue.
Recently the company acquired an additional 25.76 percent stake in Brewtus Beverages Private Limited, thereby increasing its stake to about 51 percent, making it a subsidiary of the company.
Integra Essentia in the first phase, has plans to invest and provide up to Rs. 100 Million towards growing the business in Brewtus Beverages Private Limited and expanding itself in the liquor-based beverage industry.
Integra Essentia Limited is engaged in the business of life essentials like food, clothing, infrastructure, energy, and many more products and services that are required to sustain modern life.
The company’s agro division has a strong order book of Rs. 300 million which will be completed within the current year. With the existing order book, sourcing, and execution of the supplies plan it is achieving an overall growth of about 25 percent during the current fiscal, on a Year-on-Year basis.
The company’s revenue from operations grew 249.27 percent from Rs. 69 Crores in FY22 to Rs. 241 Crores in FY23, accompanied by increasing profits that jumped 600 percent from Rs. 1 Crore to Rs. 7 Crores.
It has reported a return on equity (ROE) of 28.8 percent and a return on capital employed (ROCE) of 13.99 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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