From Lower Circuit to Upper Circuit: Multibagger Stock Jumps with Heavy Volume; Board Announces 1:10 Stock Split
The stock has given multibagger returns of 4,882 per cent from its 52-week low of Rs 11.02 per share.
On Monday, shares of Godfrey Phillips India’s peer company, Elitecon International Ltd, hit a 5 per cent upper circuit to Rs 549 per share from its previous closing of Rs 522.90 per share. The stock’s 52-week high of Rs 629.55 per share and its 52-week low is Rs 11.02 per share. The stock dropped 5 per cent from its previous close till 11:41 am and by 11:51 am, it hit the 5 per cent upper circuit, which was approximately 11 per cent up from its intraday low with a spurt in volume by more than 1.82 times on the BSE.
Elitecon International Limited has set Wednesday, June 25, 2025, as the Record Date for a stock split. Approved by shareholders on June 2, 2025, this will subdivide every 1 equity share with a face value of Rs 10 into 10 equity shares, each with a face value of Re 1.
Earlier, Elitecon International Limited's promoter, Mr. Vipin Sharma, sold 9.07 lakh equity shares to reinvest the entire estimated Rs 350 crore proceeds back into the company. This capital infusion, including an unsecured, interest-free loan of Rs 50 crore, will boost Elitecon's working capital and support growth. This move underscores the promoter's commitment, enhancing financial flexibility and reducing external borrowing. Following the transaction, the promoter group will still hold a substantial 59.43 per cent stake, with intentions to further increase their shareholding.
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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.
The company has a market cap of Rs 8,776 crore. In FY25, FIIs bought a 22.81 per cent stake and increased their stake to 38.30 per cent compared to FY24. The stock has given multibagger returns of 4,882 per cent from its 52-week low of Rs 11.02 per share.
Disclaimer: The article is for informational purposes only and not investment advice.