LIC Backed Penny Stock Integra Essentia Reports Over 100% Jump In Q1 PAT

Integra Essentia reported a net profit in the first quarter of the financial year 2023-24 at Rs 1.18 crore, up more than 100 per cent from the corresponding period of the previous fiscal. The company posted a net profit of Rs 0.58 crore in Q1FY23.

The company's total income in the June 2023 quarter increased to Rs 56.3 crore from Rs 55.9 crore a year ago period.

The company didn't make any provision for a premium to be paid on redemption of debentures of value of Rs 28.45 crore which is due in July this year in view of intention to repurchase the said debentures at discounted value from the open market.

The company has received an offer for sale from debenture Holders at a discounted value which is pending for board approval due to the negotiation process.

The New Delhi-based company is engaged in the business of life essentials to sustain modern life including agro products, textiles and garments, infrastructure and energy.

It is also exploring expanding its business through acquisitions of operational facilities and is in the advanced stages of studying, comparing and finalising the acquisition of processing facilities under its long-term plan. The company recently acquired Chateau Indage Winery assets in Maharashtra for Rs 40 crore.

Last year, it acquired a substantial interest in a rice processing facility located in Bareilly, Uttar Pradesh through a joint-venture agreement. The company holds a 66 per cent stake in the JV agreement.

Integra Essentia shares on Thursday closed at Rs 5.75 on BSE. The stock made a 52-week-high of Rs 9.35 on (20/12/2022) and a 52-week-low of Rs 5.16 on (12/10/2022). During Q1FY24, the company reported promoter shareholding of 20.81%, FIIs stake of 1.51%, DIIs stake of 1.08%, and public stake of 76.60%. As per the shareholding pattern of Integra Essentia for Q1FY24, insurance giant LIC held fully paid-up equity shares of 48,59,916 or 1.06% stake in the company.