Integra Essentia Limited

Consumer Defensive — Food Distribution · NSE

₹1.00+₹0.01 (+1.01%)

DalalBaazaar Score

44 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, the company is currently loss-making, micro-cap size, which brings thin liquidity.

In simple words: The company is currently losing money, though profits are falling even as sales grow. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:53 pm

Understanding the Business

Company site ↗

The 60-second version of Integra Essentia Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Integra Essentia Limited trades in agricultural commodities, life necessities, items of basic human needs, organic and natural products, processed food, and infrastructural products in India.

IndustryFood Distribution

SectorConsumer Defensive

Employees10

Annual revenue₹474 Cr

How does it make money?

Turns over ₹474 Cr a year. Of every ₹100 of sales, about ₹0 reaches shareholders as profit, with ₹2 left at the operating level before interest, tax and depreciation. Each of its 10 employees supports ₹47.36 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹47.36 Cr

Who are its competitors?

The closest listed comparisons in its industry are HINDUSTAN UNILEVER LTD., ITC LTD, NESTLE INDIA LIMITED, BRITANNIA INDUSTRIES LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 2.1% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE51.0%

What has been driving growth?

Sales and margins have both contributed to where profit is now. Over 3 years revenue moved +96% while net margin moved -98% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+96%

Margin effect-98%

DalalBaazaar Score

44/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ ROE of 0.2% is weak
✗ ROE has fallen by 8.6 points over the period

Quality vs. Valuation

Company Quality

37/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

52/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

No P/E available

EV/EBITDA

23.7x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Very low debt
Debt/Equity of 0.26x leaves the balance sheet with plenty of headroom.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention2

Return on equity is falling
ROE has dropped from 8.8% to 0.2% — each rupee of shareholder capital earns less than it did.
Return on capital is falling
ROCE has declined from 7.0% to 2.1% — often a sign of competition or overexpansion.

Red Flags

6 items require attention · 4 high · 2 watch

🔴Debt has risen sharplyFinancial
Total debt is up 53% over 3 years, from ₹28 Cr to ₹44 Cr.
🔴Thin interest coverageFinancial
Operating profit covers interest only 1.2x — little room if earnings dip.
🔴Free cash flow negative for 3 yearsFinancial
The business has not covered its capital spending from operations for several years running, which has to be funded externally.
🔴Receivables growing faster than salesFinancial
Receivables up 1215% against revenue up 96% — sales are being booked faster than they are collected.
🟡Interest coverage is deterioratingFinancial
Cover has fallen from 5.1x to 1.2x.
🟡Profit is decliningFinancial
Net profit is down 95% over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

The debt load needs earnings to hold up
Debt is 4.7x EBITDA. At that level a downturn in earnings turns a manageable balance sheet into a refinancing problem, and lenders get paid before shareholders.
Sales are being booked faster than collected
Receivables are up 1215% against revenue up 96%. If customers keep taking longer to pay, reported profit will not turn into cash — and write-offs follow if some never do.
Returns on shareholder capital are falling
ROE has dropped from 8.8% to 0.2%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Revenue growth stays above 19% a year✓ 25.2% CAGR
Latest reported year was 42.1%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 0%✓ 2.0%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Debt / EBITDA falls below 3x✗ 4.7x
Already stretched, so this is a reduction target rather than a level to hold. Around 3x is where lenders typically start attaching conditions.
4Free cash flow remains positive✗ -₹62 Cr
Profit that never becomes cash eventually stops being profit.
5Interest cover stays above 3x✗ 1.2x
How much operating profit can fall before interest stops being comfortably covered.

Investment Checklist

4 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✗ Profit growing year-over-year
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

3 good · 3 neutral · 5 weak

Market Cap

₹176 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not available

No data

Source didn't return this field

P/B Ratio

0.75x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0

Loss-making

Negative earnings per share — the business is losing money

ROE

0.2%

Weak

Weak capital efficiency

ROCE

2.1%

Weak

Low return on total capital employed

Debt/Equity

0.26x

Low

Conservative leverage

Revenue Growth (YoY)

42.1%

Healthy

Healthy top-line growth

Profit Growth (YoY)

-91.5%

Falling

Profits are shrinking

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹62 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

0.6%

Weak

Thin margins leave little room for error

Net Margin

-0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

2.99

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.78

Defensive

Steadier than the market

52W Range Position

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

1.0 / 1.1

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

28.6

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹241 Cr	₹277 Cr	₹442 Cr	₹474 Cr	+25.2%
EBITDA	₹7 Cr	₹13 Cr	₹11 Cr	₹9 Cr	+8.3%
EBITDA Margin	3.0%	4.8%	2.6%	2.0%	—
PAT (Net Profit)	₹7 Cr	₹15 Cr	₹4 Cr	₹0 Cr	-63.5%
EPS	₹0.07	₹0.26	₹0.04	—	—
ROE	8.8%	13.2%	2.3%	0.2%	—
ROCE	7.0%	15.7%	4.5%	2.1%	—
Total Debt	₹28 Cr	₹7 Cr	₹26 Cr	₹44 Cr	+15.3%
Free Cash Flow	₹7 Cr	-₹12 Cr	-₹110 Cr	-₹62 Cr	—

🟢 Revenue has grown at 25.2% a year over 3 years.

🟢 EBITDA has grown at 8.3% a year over 3 years.

🔴 EBITDA Margin has fallen from 3.0% to 2.0% over 3 years (-1.1 pts).

🔴 PAT (Net Profit) has shrunk at 63.5% a year over 3 years.

🔴 ROE has fallen from 8.8% to 0.2% over 3 years (-8.6 pts).

🔴 ROCE has fallen from 7.0% to 2.1% over 3 years (-4.8 pts).

🔴 Total Debt has grown at 15.3% a year over 3 years.

🔴 Free Cash Flow has turned negative, from ₹7 Cr to -₹62 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹250 Cr

Total Liabilities

₹80 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹62 Cr

Capex

-₹0 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

38.7%

Peer Comparison

Company	P/E	ROE
HINDUSTAN UNILEVER LTD.	42.5x	21.5%
ITC LTD	16.6x	27.4%
NESTLE INDIA LIMITED	59.8x	79.9%
BRITANNIA INDUSTRIES LTD	44.1x	51.0%

Recent News

1 mixed1 negative4 general

Integra Essentia FY26 net profit falls 92% to ₹33.54 lakh

scanx.trade, 29 SeptResults

🔴Potentially negativeReported deterioration, which feeds the growth and margin inputs on this page directly.

Why Is Integra Essentia Share Price Falling Key Reasons 2026

Univest, 01 JulPrice move

🟡Mixed / dependsA price move rather than a change in the business. If the figures on this page have not moved, the fall is either an opportunity or news they have yet to catch up with.

Integra Essentia Limited (NSE:ESSENTIA) Screens Well But There Might Be A Catch

Simply Wall Street, 22 Jan

Compare with

Equitymaster, 15 Oct

Integra Essentia Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 30 Aug

Integra Essentia Rights Issue 2026 Date, Price, Allotment, Ratio

IPO Watch, 30 May

Watch Items

Trading very close to its 52-week low — worth checking whether this reflects a temporary setback or a structural problem.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

StrongValuation

MiddlingFinancial Health · Growth

WeakBusiness Quality · Profitability · Risk

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 4 high-severity red flags sit above this conclusion and should be read first.

3 of 5 tripwires tripped — Debt / EBITDA falls below 3x; Free cash flow remains positive; Interest cover stays above 3x · see Key things to watch ↑