The board of this penny stock engaged in diversified segment approved to raise funds of Rs. 100 crores by way of a Preferential Allotment and declared the issuance of Bonus issue of equity shares in the ratio of 1:1.
With a market capitalization of Rs. 320 crores, the shares of Integra Essentia Ltd started Friday’s trading session flat at Rs. 7.35. The share hit a low of Rs. 6.95 making a loss of around 5 percent and closed the day at Rs. 7 apiece.
In an exchange filing the company mentioned that the board has approved the raising of funds worth Rs. 100 crores by way of a Preferential Allotment like QIPs, ADR, GDR, FCCB, or any other method or in the way of Right Issue, each tranche not exceeding Rs. 50 Crore to accelerate the growth of the company.
Furthermore, The company’s board approved and recommended the issue of bonus equity shares in the ratio of 1:1, i.e.,1 bonus equity share of Rs. 1 for every 1 fully paid-up equity share of Rs. 1 each held to the shareholders as on the record date as may be decided by the Board of Directors after approval of Shareholders.
Looking at the financials of the company, the revenue increased by around 22 percent from Rs. 55 crores in the June quarter to Rs. 66.90 crores during the September quarter. In addition, the net profit magnified by 309 percent from Rs. 1.84 crores to Rs. 7.53 crores during the same timeframe.
Coming onto the important financial ratios, the return on equity(RoE) was at 28.8 percent during FY22-23 and the return on capital employed was recorded at 14 percent in the same period.
According to the shareholding pattern, the company has a promoter holding of 20.81 percent stake, the Public or the Retail Investors have a huge holding of 76.59 percent, FIIs hold 1.51 percent shares, and the remaining 1.08 percent stake is with DIIs.
Headquartered in New Delhi, Integra Essentia Ltd is engaged in dealing and trading agricultural commodities, life necessities, items of basic human needs, other essential goods, and infrastructural products among others. The company has also diversified its business into Clothing, Infrastructure, and Energy.
Written By Vaibhav Patil
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