Indian benchmark indices rose on Thursday, driven by gains in private banks after Axis Bank's second-quarter results showed improved asset quality and better-than-expected net interest margins. The Nifty 50 rose 0.48% to 25,445.60 and the BSE Sensex added 0.51% to 83,025.08 as of 10:23 a.m. IST.
Elitecon International Ltd's share price has shown a strong surge in the last year, recording gains of over 4,200%. On Thursday, shares of Elitecon International Ltd (EIL) hit a 5% lower circuit to ₹164.45 per share from its previous closing of ₹173.1 per share. The company has a market cap of ₹26,287 crore. The stock has given multibagger returns of over 16,000% in the last 5-year period.
If you had invested in this stock in the last Diwali of the year 2024, which was on November 1, at ₹4.81 per share, then it would have jumped to ₹164.45 per share, logging a percentage gain of 3,333%. The investment of ₹1,00,000 in this share would have turned out to be ₹34,33,000.
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.
Elitecon International Limited has acquired majority equity stakes in Landsmill Agro Private Limited and Sunbridge Agro Private Limited, making both new subsidiaries to strategically bolster its FMCG business vertical. The company secured a 55% stake in Landsmill (FY25 turnover: 139,480.05 lakh) for ₹52.85 crore and a 51.65% stake in Sunbridge (FY25 turnover: 144,304.32 lakh) for approximately ₹128.40 crore, with plans to achieve 100% ownership in both within 12 months, aiming for enhanced operational scale, product depth, and revenue diversification in the agro-products sector.
According to consolidated Quarterly Results, the net sales increased by 68% to ₹525 crore and the net profit increased by 68% to ₹72 crore in Q1FY26 compared to Q1FY25. For the consolidated annual results (FY25), the company reported net sales of ₹548.76 crore and net profit of ₹69.65 crore.
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