Multibagger Stock: Integra Essentia, a company dealing in steel and renewable energy, has reported impressive financial results for the April-June quarter of the current fiscal year. The stock of this essential life company has delivered remarkable returns to its investors, with a 307% increase in the past two years, according to exchange data.
Integra is also engaged in providing life essentials such as agro products, textiles and garments, and infrastructure to sustain modern life.
In the quarter ended June 30, the company posted a consolidated revenue from operations of Rs 54.9 crore, as reported in a BSE filing. The net profit for the quarter stood at Rs 1.18 crore, driven by strong demand in the FMCG segment.
For the entire financial year 2023, Integra recorded a net profit of Rs 6.66 crore with a revenue of Rs 245 crore.
Earlier this year, Integra entered the wine industry by acquiring Chateau Indage Winery assets in Maharashtra for Rs 40 crore. This move was part of the company’s strategy to expand its FMCG business and develop a robust supply chain system for consumable products.
According to shareholder pattern data on NSE, promoters and promoter groups hold a 20.81% stake in this small-cap stock with a market valuation of Rs 260 crore. The remaining shares are owned by the public.
Meanwhile, the Sensex and Nifty experienced heavy selling pressure on Thursday as investors reduced their exposure to bellwether stocks like HDFC Bank, M&M, Nestle, and Reliance Industries. This decline was influenced by a mixed trend in global markets and the lack of a boost in sentiments from the US Fed’s interest rate hike. The banking and auto sectors saw a significant decline in the domestic market, leading to a plunge of 440.38 points or 0.66% in the BSE Sensex, which settled at 66,266.82. The Nifty also dropped 118.40 points or 0.60% to close at 19,659.90.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
