Shares of this Penny stock hit the 5 percent upper circuit after securing an order worth Rs 12 crores to supply agro products such as premium rice and cashew nuts.
With a market capitalization of Rs 300 crores, the stocks of Integra Essentia Limited opened their trading hour on Thursday at Rs 6.54 and currently are locked in the 5 percent upper circuit recorded at the price of Rs 6.55 apiece.
Such sharp movements in the company’s stock price were observed after a regulatory filing with the exchange announcing an order worth Rs 12 crores for the purpose of supplying agro products including premium Rice as well as Cashew Nuts.
The supply order has been received from renowned business houses including Himalayan Bio Organic Foods, Sarveshwar Overseas Limited, and Ayush International, an established exporter. The company will complete servicing these orders in the current month itself.
The company, on a YoY basis, has seen growth in its basic business indicators such as operating revenues and net profits. The operating revenues of the company rose from Rs 68.53 crores during FY21-22 to Rs 241.41 crores during FY22-23, and, the net profits took a shift from Rs 1.09 crores to Rs 6.6 crores keeping the timeframe the same.
During the recent periods, the company has reported decent numbers with the net profit margin increasing from 1.59 percent during FY21-22 to 2.74 percent during FY22-23. Moreover, the return on equity (RoE) during the current year was reported at 28.57 percent.
As per the shareholding data for the quarter ended June 2023, the company’s Promoters hold a 20.81 percent stake, and the Foreign Institutional Investors (FIIs), recently showing interest in the company, hold a 1.51 percent stake in the company.
Integra Essentia Limited is a company based in India that is engaged in the business of manufacturing textile products, trading agro products, and business of trading materials for infrastructure as well as construction development.
Disclaimer – Penny stocks are subject to various kinds of risk pertaining to high volatility, volume trades, etc. Hence, it is recommended to consult your financial advisor before taking an entry into the stock.
Written by Amit Madnani
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