Integra Essentia Limited , a company listed on Indian stock exchanges, has announced a crucial Board of Directors meeting scheduled for November 5, 2022. The meeting agenda includes several important items that could potentially impact the company's financial standing and shareholder interests.

Financial Results Review

The board will review the unaudited financial results for the half year and quarter ended September 30, 2022. This review is a standard practice for publicly traded companies and provides investors with insights into the company's recent financial performance.

Policy Amendments

In addition to the financial review, the board will consider amendments to various company policies. While specific details of these amendments have not been disclosed, such changes could potentially affect the company's operational procedures and governance structure.

Rights Issue Deliberations

A significant portion of the meeting will be dedicated to addressing matters related to a proposed Rights Issue. The board is set to make key decisions regarding:

• Issue price
• Payment mechanism
• Issue size
• Rights entitlement ratio
• Record date

These deliberations follow a series of previous approvals and filings:

• August 9, 2022: Initial board approval for the Rights Issue
• September 10, 2022: Shareholder approval obtained
• September 12, 2022: Filing of the draft letter of offer

Rights Issue Details

The proposed Rights Issue, as previously approved, is set for up to Rs. 49.95 crore. Importantly, the company has already received in-principle approval from both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) for this issue.

Investor Implications

Shareholders and potential investors should pay close attention to the outcomes of this board meeting. The financial results will provide insights into the company's recent performance, while the Rights Issue details could present an opportunity for existing shareholders to increase their stake in the company.

The upcoming board meeting signifies Integra Essentia's commitment to transparency and shareholder engagement. As the company moves forward with its Rights Issue plans and policy reviews, stakeholders will be keenly watching for any developments that could impact the company's future direction and value proposition.

Integra Essentia Limited has released its unaudited financial results for the quarter ended June 30, revealing a decline in both revenue and profit compared to the same period last year. The company also announced changes in its board composition and the schedule for its upcoming Annual General Meeting (AGM).

Financial Performance

For Q1, Integra Essentia reported consolidated revenue from operations of ₹7,873.45 crore, down 8.5% from ₹8,606.01 crore in the same quarter of the previous year. The company's consolidated net profit saw a significant decrease, standing at ₹54.48 crore compared to ₹245.26 crore in the previous year's quarter, marking a 77.8% decline.

The company operates in two segments:

1. Dealing in essential items: Generated revenue of ₹7,746.73 crore
2. Trading division-infrastructure: Contributed ₹126.72 crore to the total revenue

Segment-wise Performance

Board Changes and Committee Reconstitution

The company announced the resignation of Mr. Anshumali Bhushan from his position as Non-Executive Independent Director, effective August 1. Following this departure, the board committees have been reconstituted with Ms. Gunjan Jha appointed as Chairperson across all committees, including the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee.

Annual General Meeting and Book Closure

Integra Essentia has scheduled its 18th Annual General Meeting for September 5, to be held via video conferencing. The Register of Members and Share Transfer Books of the company will remain closed from August 30 to September 5 (both days inclusive) for the purpose of the AGM.

Other Financial Highlights

• Total income for Q1 stood at ₹7,988.07 crore, compared to ₹8,809.62 crore in the same quarter of the previous year.
• Finance costs increased to ₹61.91 crore from ₹13.97 crore in the same quarter last year.
• Earnings per share (EPS) for the quarter was reported at ₹0.00, down from ₹0.03 in the same period of the previous year.

The company's performance this quarter reflects challenges in both its essential items and infrastructure trading segments.