One of the micro-cap stocks engaged in manufacturing tobacco products, including cigarettes and smoking mixtures. The stock has hit a 2 percent upper circuit after company boards considered fundraising and a stock split.
Stock Price Movement
With a market capitalization of Rs. 14.38 crores, the shares of Elitecon International Limited’s stock surged by 2 percent, reaching an upper circuit of Rs. 118.85 per share on Friday, up from its previous closing price of Rs. 116.55 per share.
What Happened
Elitecon International Limited has informed the public that its Board of Directors will meet on January 16, 2025, to consider various business matters. These include evaluating fund-raising options through equity shares, preference shares, or convertible instruments, and approving a proposal for the sub-division of the company’s equity shares. The decisions are subject to regulatory and shareholder approvals.
Products Offering
Elitecon offers a range of tobacco products, including cigarettes, smoking mixtures, and sheesha. The company is also working on expanding its product line with plans for chewing tobacco, snuff grinders, matches, and pipes to meet evolving consumer demands.
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Recent quarter results and ratios
Elitecon International Limited’s revenue has increased from Rs. 3.22 crore in Q2 FY24 to Rs. 79.13 crore in Q2 FY25, which has grown by 2,357.45 percent. The net profit of Elitecon International Limited has also grown by 607.2 percent, from Rs. 1.25 crore in Q2 FY24 to Rs. 8.84 crore in Q2 FY25.
Elitecon International Limited’s revenue has grown at a CAGR of 73.21 percent over the last three years.
In terms of return ratios, the company’s ROCE and ROE should be 14.4 percent and 87.46 percent, respectively. The debt-to-equity ratio of the company is to be 5.18x. Elitecon International Limited’s EPS is to be Rs. 160.7.
Shareholding pattern
In September 2024, Elitecon International Limited had a majority stake held by the promoters at 75 percent, foreign institutional investors at 15.49 percent, and the public at 9.51 percent.
Company Overview
Elitecon International Limited was established in 1987 and specializes in manufacturing tobacco products, including cigarettes and smoking mixtures. Based in Delhi, India, the company operates in domestic and international markets, serving regions like the UAE and Europe. It aims to expand its product range to meet diverse consumer demands.
Written By – Nikhil Naik
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