Mumbai (Maharashtra) [India], December 27: The Board of Directors of Elitecon International Limited today approved proposals to enhance the Company's financial flexibility and pursue strategic growth opportunities. Subject to shareholder approval, the Board has resolved to increase the Company's overall borrowing limits up to Rs. 500 crore. In parallel, the Board has approved seeking shareholder consent to permit the Company to make investments in, and provide loans, guarantees and other securities to, entities beyond the current prescribed limits. Management believes these authorizations will enable timely pursuit of strategic initiatives and better support affiliated business requirements.
Both proposals will be placed before shareholders through the statutory process, via postal ballot and/or an extraordinary general meeting. A scrutinizer has been appointed to oversee the process, e‑voting cut‑off dates have been fixed, and remote e‑voting will be available from December 29, 2025 to January 27, 2026, with the e‑voting cut‑off date set as December 22, 2025.
In a separate commercial development, Elitecon has secured a landmark two‑year international supply contract valued at USD 97.35 million from Yuvi International Trade FZE. The agreement covers the supply of cigarettes, premix sheesha, hookah tobacco, smoking mixtures and other tobacco‑allied products, and significantly strengthens Elitecon's footprint in key Middle Eastern markets where demand for regulated tobacco products remains steady.
Management notes that the long‑term nature of this contract provides enhanced revenue visibility, enabling more efficient production planning, improved capacity utilisation and optimisation of working capital cycles. The order is expected to deliver stable export earnings, reduce revenue volatility and support scalable growth across the contract period. Company leadership emphasized that the contract was secured in the normal course of business and reflects Elitecon's strong product acceptance, robust manufacturing capabilities and established export relationships.
Elitecon International Limited is engaged in the manufacturing and export of tobacco and tobacco‑allied products, and continues to prioritise capacity expansion, product diversification and the cultivation of long‑term export partnerships to drive sustainable growth.
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