Shares of this mid-cap stock hit the 5 percent upper circuit in Tuesday’s trading session after the company announced financial results for Q2FY23-24, i.e., for the quarter ended September 2023.
With a market capitalization of Rs 293 crores, the stocks of Integra Essentia Limited started their trading session on Tuesday at Rs 6.45 hitting the 5 percent upper circuit at the same price. Such sharp movements in the company’s stock price were witnessed after it announced financial results for the quarter ended September 2023.
On a sequential basis, the company reported an increase in both the basic financial parameters such as operating revenues and after-tax profits (from continuing operations) with the former increasing from Rs 55 crores during Q1FY23-24 to Rs 67 crores during Q2FY23-24, and, the latter, during the same period, moving up from Rs 1.18 crores to Rs 7.53 crores.
Moreover, the company, on a YoY basis, showed positive movements in the metrics mentioned above.
The operating revenues rose from Rs 57 crores during Q2FY22-23 to Rs 67 crores during Q2FY23-24, and, the after-tax profits (from continuing operations), keeping the timeframe the same, drastically shifted up from Rs 2.16 crores to Rs 7.53 crores exhibiting an increase of approximately 250 percent.
The company, during the recent financial year, reported decent profitability numbers with a return on equity (RoE) of 28.80 percent, and, a return on capital employed (RoCE) of around 13.99 percent.
According to the shareholding pattern available for the September 2023 quarter, the company’s Promoters hold a 20.81 percent stake, and the Public (retail) investors hold a 76.6 percent stake in the company.
Integra Essentia Limited formerly Integra Garments & Textiles Ltd is an apparel manufacturing company based in India engaged in the business of manufacturing textile products, trading of agro products, etc. The company offers products such as woven tops & shirts, panel prints, etc.
Written by Amit Madnani
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