Multibagger Stock: Integra Essentia is in focus today after the company reported robust numbers in the January-March period. The stock of the life essentials company traded 2 higher per higher at Rs 6.55 apiece on NSE.
The company has reported three-fold increase in consolidated net profit at Rs 1.68 crore during the March 2023 quarter, Integra Essentia said in a BSE filing on Thursday. The company has attributed to the rise in higher income for the massive jump in net profit.
ALSO READ: Adani Group to raise USD 1-1.5 billion for financing green energy projects | DETAILS HERE
The company's total income in the quarter ended March 2023 increased to Rs 68.09 crore from Rs 50.18 crore in the year-ago quarter, the filing said.
For the whole financial year, the company's net profit increased to Rs 6.66 crore from Rs 1.08 crore in the last financial year.
Integra Essentia is in the business of steel and renewable energy. The company recently forayed into the wine industry with the acquisition of Chateau Indage Winery for Rs 40 crore in Narayangaon, Maharashtra.
Integra Essentia is in the business of steel and renewable energy. It is also involved in the business of life essentials to sustain modern life including agro products, textiles and garments and infrastructure.
ALSO READ: Google took action against over 3,500 loan apps in India for violating norms in 2022
The company recently forayed into the wine industry with the acquisition of Chateau Indage Winery assets near Pune for worth Rs 40 crore. The New Delhi based company in an exchange filing informed that the acquisition is a part of its pre-determined long-term business expansion plan as it seeks to bolster its FMCG businesses footprint throughout the whole supply chain spectrum of consumable products.
"Integra Essentia Limited is pleased to announce that it has purchased assets of Chateau Indage Winery for Rs 400 million, as a part of its pre-defined long-term business growth strategy," according to a filing said.
A small-cap company with a market valuation of Rs 300 crore, the stock has yielded a massive 260 per cent return in a year period. According to shareholder pattern on NSE, promoters and promoter groups hold 20.81 per cent stake in the company while remaining 79.19 is owned by the public.
