The shares of this textile company gained up to 5 percent after the company announced the acquisition of a 25.24 % stake in Brewtus Beverages Pvt Ltd worth Rs 100 million.
With a market capitalization of Rs 278.33 Crores. Integra Essentia Ltd, On Wednesday, The shares were trading at Rs 6.10 a share, an increase of 1 percent from the previous closing price.
According to the company filing, Integra Essentia Ltd’s announced acquisition of an additional 25.24 % stake holding at BBPL, Integra Essentia in the first phase, has plans to invest and provide up to Rs 100 Million towards growing the business in Brewtus Beverages Pvt Ltd.
Apart from what was previously mentioned, Integra Essential currently owns roughly 25.76% of the equity acquired in Q2 of FY2024. Following the additional increase in stakes, the Company will own roughly 51% of BBPL, designating it as a subsidiary.
The Company is investigating the various opportunities and proposals to acquire Breweries / Distilleries located in Europe, while also eyeing various options to enhance its footprint in the relevant business segment along with the necessities of life via acquisitions, mergers, and other options to pace the process.
The company will shortly be hosting several Launch/Brand Promotion Events for the New Products/Brands added to its product profile, inviting well-known and established business houses from the network of dealers and distributors involved in the beverage industry nationwide.
Looking into the company’s performance revenue increased by 17 percent from Rs 57.13 Crore in Q2FY23 to Rs 57.13 Crore in Q2FY24. During the same period, net profit increased by 267 percent from Rs 2.05 crore to Rs 7.54 crore.
Energy, Infrastructure (Materials and Services for Construction and Infrastructure Development), Clothing (Textiles and Garments), and Food (Agro Products) are Integra Essentia Ltd.’s business niches.
The financial statements of penny stocks are not accurate representations of their real situation; investing in them is fraught with danger and should be done with extreme caution. This article does not contain any financial advice.
Written by:- Abhishek Singh
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