After Securing Rs 150 Mn Order, FMCG Stock To Consider Bonus Shares: Do You Own?

Integra Essentia which has recently secured Rs 150 Mn Order From Sarveshwar Group has informed stock exchanges regarding its upcoming Board Meeting scheduled to be held on Monday, November 27, 2023 to consider and approve fundraising plan and bonus shares.

"We wish to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Monday, November 27, 2023 at the Registered office of the Company, inter-alia, to transact the following businesses: i. to consider and recommend a proposal of declaration of Bonus Shares to the Shareholders of the Company subject to requisite approvals; ii. to augment the financial resources of the Company, fund raising, by way of issue of securities, convertible instruments, or any other method or combination thereof, for cash or otherwise, and to appoint requisite intermediaries required for this purpose; iii. to increase the Authorized Share Capital of the Company and consequent amendments in Memorandum and Articles of Association of the Company, if any; iv. to seek members' approval wherever applicable by means of passing the requisite resolution(s) for the above-said board decisions and other matters connected therewith and/or incidental thereto; v. any other item with the permission of the Chair," said Integra Essentia in a stock exchange filing.

The company on Friday announced an order win from Sarveshwar Foods Ltd and its material subsidiary. Integra Essentia said that Himalayan Bio Organic Foods, a material subsidiary of Sarveshwar Foods Ltd., has placed advance orders worth over Rs 15 crore with its agro-business division. Integra Essentia hopes to provide agro-products worth about Rs. 900 million a year to the Sarveshwar Group, an ISO 22000:2018 and USFDA (United States Food and Drug Administration) certified company.

In the September 2023 quarter, the firm recorded standalone net sales of Rs 66.90 crore, up 17.11% from Rs. 57.13 crore in the same quarter of 2022. The company's standalone net profit jumped by 258.48% from Rs. 2.10 crore in Q2FY23 to Rs. 7.54 crore in Q2FY24. From Rs. 2.11 crore in the same quarter last year to Rs. 11.00 crore in the quarter under review, EBITDA soared by 421.33%.

On Tuesday, the shares of Integra Essentia opened at Rs 7.97 apiece and were trading 3.95% intraday higher at Rs 7.90 while writing this copy.