Upper Circuit & 52-Week High Alert: Board to meet for discussion of overseas acquisition, preferential equity issue and office shift to Maharashtra
DSIJ Intelligence-1 / 23 Jul 2025/ Categories: Multibaggers, Trending
The stock has given multibagger returns of over 13,000 per cent from its 52-week low of Rs 1.10 per share.
On Wednesday, shares of Elitecon International Ltd (EIL) hit a 5 per cent upper circuit to an all-time high of Rs 144.70 per share from its previous closing of Rs 137.81 per share. The stock also made a 52-week high of Rs 144.70 per share and its 52-week low is Rs 1.10 per share.
Elitecon International Limited has announced a Board of Directors meeting scheduled for Friday, July 25, 2025. A key item on the agenda is the proposal to raise funds up to Rs 300 crore through a Qualified Institutions Placement (QIP). This significant financial move, which includes any premium or discount on equity shares, is subject to approval from the company's members and all necessary governmental, regulatory, and statutory clearances.
In addition to the QIP, the Board will address several other important matters. These include the proposed acquisition of an overseas business entity, the issuance of equity shares on a preferential basis, and the relocation of the company's registered office from the National Capital Territory of Delhi to the State of Maharashtra. These discussions are in line with various regulations, including the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and will proceed with the Chairman's permission for any other business items.
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About the Company
Established in 1987, Elitecon International Ltd. (EIL) specialises in the manufacturing and trading of a diverse range of tobacco and allied products for both domestic and international markets. The company's product portfolio includes smoking mixtures, cigarettes, pouch khaini, zarda, flavoured molesis tobacco, yummy filter khaini and other tobacco-based items. EIL has a notable international presence, operating in the UAE, Singapore, Hong Kong and European countries like the UK and plans to expand its offerings to include products such as chewing tobacco, snuff grinders and match-related articles. The company also boasts its brands, including "Inhale" for cigarettes, "Al Noor" for sheesha and "Gurh Gurh" for smoking mixtures.
According to consolidated Quarterly Results, the net sales increased by 232 per cent to Rs 313.16 crore and the net profit increased by 222 per cent to Rs 42.97 crore in Q4FY25 compared to Q4FY24. In its standalone annual results, the net sales increased by 424 per cent to Rs 297.51 crore and the net profit increased by 574 per cent to Rs 32.21 crore in FY25 compared to FY24. For the consolidated annual results (FY25), the company reported net sales of Rs 548.76 crore and net profit of Rs 69.65 crore.
On Wednesday, June 25, 2025, the company’s shares have ex-traded a 1:10 stock split. This means each equity share with a face value of Rs 10 has been subdivided into ten equity shares, each now having a face value of Re 1. The company has a market cap of over Rs 23,000 crore. The stock has given multibagger returns of over 13,000 per cent from its 52-week low of Rs 1.10 per share.
Disclaimer: The article is for informational purposes only and not investment advice.