Multibagger stock: Elitecon International share price was locked-in at 5% upper circuit at ₹55.83 on Wednesday, March 18 following gains in broader markets today.
Indian benchmark indices for the third straight session today. In Today’s deals, both Sensex and Nifty advanced around half a percent each following gains in global peers as crude oil prices declined mid the prolonged US-Iran war. Moreover, investors awaited US Federal Reserve interest rate decision due later in the day.
Currently, share price is down 87% from its 52-week high of ₹422.65 apiece, touched on 25 August 2025. The stock has hit a 52-week low of ₹27.66 apiece in March 2025.
Elitecon International share price has fallen 26% in one month and has declined around 54% in three months. The small-cap stock has plunged 68% in six months. However, Elitecon International shares have delivered returns of 102% in one year and a staggering 5220% return over the past 5 years.
Recent Developments
Elitecon International last month appointed Deloitte Touche Tohmatsu India LLP as its strategic tax and regulatory advisor, along with transaction programme manager, to support the evaluation, structuring, and execution of a proposed merger involving its group entities.
According to a regulatory filing with the BSE, the company is evaluating the consolidation of Sunbridge Agro Private Limited, Landsmill Agro Private Limited, and Golden Cryo Private Limited with Elitecon, subject to necessary regulatory approvals.
The proposed merger is aimed at integrating multiple business verticals under a unified structure. Through this, Elitecon seeks to enhance operational scale, improve efficiencies, and optimise resource utilisation across the group. The transaction is also expected to strengthen the balance sheet, improve long-term earnings visibility, and boost overall market competitiveness.
“We wish to inform that Elitecon International Limited has taken a significant strategic step towards strengthening its long-term growth trajectory, operational scale and shareholder value creation,” the company stated in its exchange filing.
Alongside the merger evaluation, Elitecon also outlined plans to undertake capital expenditure (capex) expansion to support its long-term growth strategy. The company noted that the proposed transaction aligns with its broader objectives of expansion, diversification, and sustainable business growth.
Earlier this month, Mauritius-based Minerva Ventures disclosed in an exchange filing that it acquired 13.7 crore shares, representing an 8.58% stake in Elitecon International, through a combination of warrants and open market purchases. However, the foreign institutional investor did not disclose the acquisition cost. Following the transaction, Elitecon’s total voting share capital stood at 1,598,500,000 shares.
Separately, the company informed that its manufacturing facility in Nashik was inspected by officials from the Food and Drug Administration on January 8, 2026. The inspection was conducted in line with a Government of Maharashtra notification dated July 20, 2025, issued under the Food Safety and Standards Act, 2006.
Elitecon International financial performance
Elitecon reported strong financial growth in the first half of FY26, supported by a sharp surge in revenue. On a quarterly basis, net sales jumped 318% to ₹2,192.09 crore, while net profit rose 63% to ₹117.20 crore compared to the previous quarter.
The growth was even more pronounced on a half-yearly basis. Net sales surged 581% to ₹3,735.64 crore, while net profit increased 195% to ₹117.20 crore year-on-year. This sharp acceleration follows a relatively subdued FY25, when the company reported annual net sales of ₹548.76 crore and a net profit of ₹69.65 crore.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.