Mumbai (Maharashtra) [India], December 8:Elitecon International Ltd. (EIL) experienced a significant surge in its stock price, hitting a 5% upper circuit and reaching an intraday high of Rs 90.64 per share on Monday, a notable increase from its previous closing of Rs 86.33. This upward momentum follows the company’s recent announcement regarding the declaration and payment of an interim dividend, coupled with robust financial results and a strategic decision by its promoters to voluntarily forgo their dividend entitlement.
The Board of Directors, in a meeting held on November 5, 2025, declared an Interim Dividend of 5% per equity share for the Financial Year 2025–26, with November 12, 2025, designated as the Record Date. Elitecon International confirmed the successful payment of the full dividend amount to all eligible Non-Promoter Category Shareholders, adhering strictly to the stipulated timelines and through the company’s dedicated Dividend Account at Kotak Mahindra Bank, Dindori, Nashik. This disbursement was executed after completing all requisite statutory procedures under the Companies Act, 2013, and SEBI (LODR) Regulations, 2015.
A remarkable aspect of this dividend declaration is the voluntary relinquishment of their entire interim dividend entitlement by all Promoter Category Shareholders, amounting to approximately Rs 47.5 million. This strategic move is aimed at bolstering EIL's internal financial resources, thereby supporting future growth, expansion initiatives, and working capital requirements, with the ultimate goal of enhancing long-term value creation for all stakeholders. The company explicitly stated that this relinquishment was entirely voluntary and has had no impact on the company's shareholding pattern.
The financial performance underpinning this market activity has been exceptionally strong. In the second quarter of FY26, Elitecon International reported a substantial 318% increase in net sales to Rs 2,192.09 crore and a 63% rise in net profit to Rs 117.20 crore when compared to the first quarter of FY26. The half-yearly results for FY26 further underscore this growth trajectory, with net sales escalating by 581% to Rs 3,735.64 crore and net profit surging by 195% to Rs 117.20 crore compared to the same period in FY25. For the consolidated annual results of FY25, the company had posted net sales of Rs 548.76 crore and a net profit of Rs 69.65 crore.
With a current market capitalization exceeding Rs 14,000 crore, Elitecon International has demonstrated an impressive track record of shareholder returns, delivering multibagger returns of 1,000% from its 52-week low of Rs 7.41 per share and a remarkable 8,500% over the last three years. Established in 1987, EIL is a prominent player in the manufacturing and trading of tobacco and allied products, catering to both domestic and international markets with a diverse product portfolio and a growing global presence. The company continues to explore expansion into new product categories and geographical regions, reinforcing its commitment to sustained growth and stakeholder value.
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