Elitecon International Ltd.

•

eliteconinternational.comBSE: 539533NSE: ELITECON

Market Cap₹ 1,618 Cr.

Current Price

High / Low₹ 46 / 10

Stock P/E25.9

Book Value₹ 1

Price to Book42.62

Dividend Yield0.00 %

ROCE33.2 %

ROE123.7 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Tobacco Products: 89.5% • Agro Commodities: 10.5%

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

Reduce

Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

View full sector analysis →

PROS

Company is almost debt free
Company has a good return on equity (ROE) track record: 3 Years ROE 41.2%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.50x)
Working capital cycle has improved - days down from 430 to 119
Company comfortably covers its interest (143.0x coverage)

CONS

Company has a low return on capital employed of -214.7%
Promoter holding has decreased over last 2 years: -15.6pp
Operating cash flow has been negative in recent years
Equity base is being diluted - shares outstanding up 13110.7%
Contingent liabilities are large at 338.9% of net worth
Stock is trading at 42.6x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsTradingTrading

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ADANIENT	2863.25	52.06	387604.62	0.05	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	PREMIERENE	1013.95	27.64	46028.41	0.10	471.92	53.32	2462.59	35.25	33.72	29.03
3.	CPPLUS	3724.85	92.33	44065.14	0.04	142.20	332.51	1402.42	89.51	29.48	14.52
4.	AEGISLOG	1220.55	34.24	42841.31	0.71	544.84	210.70	2356.86	37.07	19.76	30.28
5.	REDINGTON	349.30	16.05	27307.38	1.72	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	472.75	61.93	15412.79	0.63	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	71.41	97.08	10901.11	0.21	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	835.10	84.66	10525.20	0.00	455.80	1310.71	13085.70	1044.08	10.43	4.49
9.	MMTC	62.29	20.89	9343.50	0.00	104.24	135.52	0.68	-50.00	33.46	-1423.53
10.	ENTERO	1807.90	62.74	7868.54	0.00	52.05	72.17	1940.50	38.23	10.93	5.00
11.	CELLO	350.25	24.73	7736.50	0.43	73.40	-8.99	526.72	-0.43	17.15	18.80
12.	ELITECON	10.12	5.23	1617.68	0.00	10.36	-22.37	174.13	85.00	84.18	7.70

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	6	7	-1	3	10	44	50	79	48	120	199	505	503
	15	62	1	1	10	38	45	71	42	108	178	483	488
Operating Profit	-9	-55	-2	2	0	7	5	8	6	13	21	22	15
OPM %	-147.29%	-809.97%	266.20%	59.63%	2.34%	15.31%	9.95%	10.38%	13.29%	10.71%	10.47%	4.39%	2.93%
Other Income	-0	0	0	0	0	0	0	1	1	0	0	1	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	1	1	1	1	0	0	0	0	1	1	1	1
	-9	-57	-3	1	-0	6	4	9	7	12	20	22	15
Tax %	-0.32%	0.26%	1.17%	-3.28%	-0.00%	-1.12%	-1.79%	0.00%	0.15%	-0.16%	-0.10%	9.98%	34.66%
Net Profit	-10	-57	-3	1	-0	6	5	9	7	12	20	20	10
	-79	-468	-21	10	-2	52	4	7	5	1	0	0	0
Equity Capital	1	1	1	1	1	1	1	1	1	160	160	160	160
Reserves	3	3	-75	-75	-75	-75	-71	-71	-71	-38	-38	-38	-38
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1	0	0	0	0	0	19	58	57	298	1,327
	1	1	1	0	0	0	18	134	50	266	1,257
Operating Profit	0	0	0	0	-0	-0	2	-75	7	34	—
OPM %	5	16	3	14	-5	-446	9	-130	13	11	—
Other Income	0	0	0	0	0	0	0	0	0	3	1
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	1	2	2	2	2
	0	0	0	0	-0	-0	1	-78	5	32	70
Tax %	34	30	27	26	0	0	25	0	-3	-0	10
Net Profit	0	0	0	0	-0	-0	0	-78	5	32	62
EPS	0	0	0	0	-0	-0	4	-646	40	2	—
Dividend Payout %	0	0	0	0	0	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	0	0	0	0	-0	-0	0	-65	4	0	—

COMPOUNDED SALES GROWTH

10 Years:: 72%
5 Years:: 333%
3 Years:: 149%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 320%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 27%
3 Years:: 41%
Last Year:: 124%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	1	1	1	1	1	1	1	1	1	160
	2	2	2	2	2	2	3	-75	-71	-38
Trade Payables	0	0	0	0	0	0	52	53	26	40
	1	1	0	0	0	0	29	108	162	7
Total Liabilities	4	4	3	3	3	4	85	86	119	169
ASSETS	-	-	-	-	-	-	-	-	-	-
	0	0	0	0	0	0	5	12	6	9
	0	0	1	1	1	1	0	0	0	15
	0	0	0	0	0	0	31	31	40	39
	0	0	0	0	0	0	0	0	16	65
Cash & Bank	0	0	0	0	0	0	1	0	2	3
	3	3	2	2	2	2	48	42	56	37
Total Assets	4	4	3	3	3	4	85	86	119	169
Total Debt	0	0	0	0	0	0	28	65	142	0
Net Working Capital	3	3	2	2	2	2	26	-21	67	97
Contingent Liabilities	0	0	0	0	0	0	0	2	2	412
Book Value per Share	29.01	29.46	29.53	29.66	29.57	29.20	32.88	-613.24	-573.52	7.60
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-0	0	0	0	0	-0	-25	-29	-79	5
Cash from Investing	0	-0	-1	0	-0	0	-2	-8	4	-20
Cash from Financing	0	0	0	0	0	0	27	36	77	16
	-0	0	-0	0	0	0	1	-1	2	1
Free Cash Flow	-0	0	0	0	0	-0	-31	-38	-79	-0
OCF / Net Profit	-16.51	7.92	48.65	0.05	-28.45	8.14	-56.55	0.37	-16.45	0.14
Cumulative 5-Year FCF	0	0	0	0	0	1	-31	-69	-148	-148

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	0.28	0.45	0.07	0.13	-0.09	-0.38	3.59	-646.12	39.51	2.02
Book Value (₹)	29.01	29.46	29.53	29.66	29.57	29.20	32.88	-613.24	-573.52	7.60
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.03	0.05	0.01	0.01	-0.01	-0.04	1.10	-62.63	5.78	0.21
PROFITABILITY
Operating Margin %	5.20%	16.12%	2.75%	13.52%	-4.70%	-445.51%	9.01%	-130.17%	12.78%	10.64%
Net Margin %	3.09%	11.16%	1.71%	10.00%	-4.70%	-445.51%	2.25%	-134.88%	8.41%	10.83%
ROE %	0.98%	1.56%	0.22%	0.44%	-0.29%	-1.29%	12.27%	0.00%	0.00%	123.73%
ROCE %	1.50%	2.25%	0.36%	0.59%	-0.29%	-1.22%	4.81%	-693.38%	16.14%	33.22%
	0.80%	1.25%	0.20%	0.42%	-0.28%	-1.14%	0.98%	-91.43%	4.66%	22.38%
EFFICIENCY
Debtor Days	244	718	0	0	288	0	12	36	85	50
Inventory Days	148	0	0	0	11	0	581	195	228	48
Payable Days	23	117	79	0	301	5272	632	155	332	47
	369	602	-79	0	-3	-5272	-40	76	-19	51
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.11x	6.98x	-0.87x	-2.05x	0.00x
Interest Coverage (x)	4159.89x	123.50x	6.48x	0.00x	0.00x	0.00x	3.20x	-214.34x	10.54x	142.99x
	5.03x	4.45x	24.07x	14.99x	7.89x	13.09x	1.50x	0.78x	2.47x	3.07x
GROWTH
Revenue Growth %	-25.16%	-55.64%	-4.58%	-66.59%	42.71%	-95.42%	0.00%	200.26%	-1.97%	423.57%
Operating Profit Growth %	-25.12%	37.56%	-83.71%	64.19%	-149.60%	-334.16%	4438.09%	-4437.73%	109.74%	364.65%
Net Profit Growth %	200.39%	60.19%	-85.43%	96.03%	-167.03%	-334.16%	1182.65%	0.00%	106.11%	573.83%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	106.11%	-94.90%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	16.07x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	42.62x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	19.28x	151.51x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.00	75.00	75.00	60.00	59.50	59.43	59.43	59.43	59.43
	15.49	15.49	15.49	38.30	38.26	38.21	38.00	38.04	36.43
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	9.51	9.51	9.51	1.70	2.24	2.36	2.57	2.53	4.14

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for ELITECON

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Elitecon International Ltd.

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Name

ADANIENT

2863.25

52.06

387604.62

0.05

-1461.54

-249.67

32923.98

49.92

13.30

15.57

PREMIERENE

1013.95

27.64

46028.41

0.10

471.92

53.32

2462.59

35.25

33.72

29.03

CPPLUS

3724.85

92.33

44065.14

0.04

142.20

332.51

1402.42

89.51

29.48

14.52

AEGISLOG

1220.55

34.24

42841.31

0.71

544.84

210.70

2356.86

37.07

19.76

30.28

REDINGTON

349.30

16.05

27307.38

1.72

453.49

94.65

34922.47

34.57

18.96

2.03

HONASA

472.75

61.93

15412.79

0.63

90.45

118.87

755.95

27.00

8.99

14.58

LLOYDSENT

71.41

97.08

10901.11

0.21

109.98

-55.77

563.03

70.15

12.84

18.07

SGMART

835.10

84.66

10525.20

0.00

455.80

1310.71

13085.70

1044.08

10.43

4.49

MMTC

62.29

20.89

9343.50

0.00

104.24

135.52

0.68

-50.00

33.46

-1423.53

ENTERO

1807.90

62.74

7868.54

0.00

52.05

72.17

1940.50

38.23

10.93

5.00

CELLO

350.25

24.73

7736.50

0.43

73.40

-8.99

526.72

-0.43

17.15

18.80

ELITECON

10.12

5.23

1617.68

0.00

10.36

-22.37

174.13

85.00

84.18

7.70

Dec 2022

Mar 2023

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

-1

120

199

505

503

108

178

483

488

Operating Profit

-9

-55

-2

OPM %

-147.29%

-809.97%

266.20%

59.63%

2.34%

15.31%

9.95%

10.38%

13.29%

10.71%

10.47%

4.39%

2.93%

Other Income

-0

Interest

Depreciation

-9

-57

-3

-0

Tax %

-0.32%

0.26%

1.17%

-3.28%

-0.00%

-1.12%

-1.79%

0.00%

0.15%

-0.16%

-0.10%

9.98%

34.66%

Net Profit

-10

-57

-3

-0

-79

-468

-21

-2

Equity Capital

160

Reserves

-75

-71

-38

Promoter Pledge %

0.00%

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

298

1,327

134

266

1,257

Operating Profit

-0

-75

—

OPM %

-5

-446

-130

—

Other Income

Interest

Depreciation

-0

-78

Tax %

-3

-0

Net Profit

-0

-78

EPS

-0

-646

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

-0

-65

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

160

-75

-71

-38

Trade Payables

108

162

Total Liabilities

119

169

ASSETS

Cash & Bank

Total Assets

119

169

Total Debt

142

Net Working Capital

-21

Contingent Liabilities

412

Book Value per Share

29.01

29.46

29.53

29.66

29.57

29.20

32.88

-613.24

-573.52

7.60

Face Value

10.00

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-0

-25

-29

-79

Cash from Investing

-0

-1

-0

-2

-8

-20

Cash from Financing

-0

-1

Free Cash Flow

-0

-31

-38

-79

-0

OCF / Net Profit

-16.51

7.92

48.65

0.05

-28.45

8.14

-56.55

0.37

-16.45

0.14

Cumulative 5-Year FCF

-31

-69

-148

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

0.28

0.45

0.07

0.13

-0.09

-0.38

3.59

-646.12

39.51

2.02

Book Value (₹)

29.01

29.46

29.53

29.66

29.57

29.20

32.88

-613.24

-573.52

7.60

Dividend per Share (₹)

0.00

Cash EPS (₹)

0.03

0.05

0.01

-0.01

-0.04

1.10

-62.63

5.78

0.21

PROFITABILITY

Operating Margin %

5.20%

16.12%

2.75%

13.52%

-4.70%

-445.51%

9.01%

-130.17%

12.78%

10.64%

Net Margin %

3.09%

11.16%

1.71%

10.00%

-4.70%

-445.51%

2.25%

-134.88%

8.41%

10.83%

ROE %

0.98%

1.56%

0.22%

0.44%

-0.29%

-1.29%

12.27%

0.00%

123.73%

ROCE %

1.50%

2.25%

0.36%

0.59%

-0.29%

-1.22%

4.81%

-693.38%

16.14%

33.22%

0.80%

1.25%

0.20%

0.42%

-0.28%

-1.14%

0.98%

-91.43%

4.66%

22.38%

EFFICIENCY

Debtor Days

244

718

288

Inventory Days

148

581

195

228

Payable Days

117

301

5272

632

155

332

369

602

-79

-3

-5272

-40

-19

FINANCIAL HEALTH

Debt to Equity (x)

0.00x

0.11x

6.98x

-0.87x

-2.05x

0.00x

Interest Coverage (x)

4159.89x

123.50x

6.48x

0.00x

3.20x

-214.34x

10.54x

142.99x

5.03x

4.45x

24.07x

14.99x

7.89x

13.09x

1.50x

0.78x

2.47x

3.07x

GROWTH

Revenue Growth %

-25.16%

-55.64%

-4.58%

-66.59%

42.71%

-95.42%

0.00%

200.26%

-1.97%

423.57%

Operating Profit Growth %

-25.12%

37.56%

-83.71%

64.19%

-149.60%

-334.16%

4438.09%

-4437.73%

109.74%

364.65%

Net Profit Growth %

200.39%

60.19%

-85.43%

96.03%

-167.03%

-334.16%

1182.65%

0.00%

106.11%

573.83%

0.00%

106.11%

-94.90%

VALUATION

P/E (x)

0.00x

16.07x

P/B (x)

0.00x

42.62x

Dividend Yield %

0.00%

0.00x

19.28x

151.51x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

75.00

60.00

59.50

59.43

15.49

38.30

38.26

38.21

38.00

38.04

36.43

DIIs

0.00

Government

0.00

9.51

1.70

2.24

2.36

2.57

2.53

4.14

Elitecon International Ltd.

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Quarterly Results

Profit & Loss

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Elitecon International Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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