Elitecon International Ltd.

•

₹ 15.7-6.49%

2026-08-21

eliteconinternational.comBSE: 539533NSE: ELITECON

Market Cap₹ 2,690 Cr.

Current Price₹ 17

High / Low₹ 46 / 15

Stock P/E8.7

Book Value₹ 3

Price to Book32.31

Dividend Yield0.00 %

ROCE84.2 %

ROE85.3 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Tobacco Products: 92.1% • Agro Commodities: 7.9%

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 28.0%
Company has a good return on equity (ROE) track record: 3 Years ROE 28.0%
Latest quarter profit grew 676.3% YoY, showing strong momentum
Working capital cycle has improved - days down from 990 to 95
Company comfortably covers its interest (291.6x coverage)

CONS

Promoter holding has decreased over last 2 years: -15.6pp
Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.03x)
Contingent liabilities are large at 256.9% of net worth
Stock is trading at 32.3x its book value
Recurring exceptional / one-off items are inflating headline profit

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

Peer comparison

EDIT COLUMNS

Oil Gas & Consumable FuelsTradingTrading

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	ADANIENT	2979.00	54.17	403273.96	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	AEGISLOG	1363.65	38.25	47864.12	0.64	544.84	210.70	2356.86	37.07	19.76	30.28
3.	PREMIERENE	1008.00	27.48	45758.31	0.10	471.92	53.32	2462.59	35.25	41.97	29.03
4.	CPPLUS	3307.45	81.98	39127.28	0.05	142.20	332.51	1402.42	89.51	29.48	14.52
5.	REDINGTON	334.90	15.39	26181.63	1.79	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	476.90	62.48	15548.09	0.63	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	78.59	106.84	11997.17	0.19	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	805.80	81.69	10155.92	0.00	455.80	1310.71	13085.70	1044.08	11.45	4.49
9.	MMTC	62.10	20.82	9315.00	0.00	104.24	135.52	0.68	-50.00	6.90	-1423.53
10.	CELLO	358.45	25.31	7917.62	0.42	73.40	-8.99	526.72	-0.43	17.15	18.80
11.	EBGNG	588.80	47.13	6713.00	0.00	28.93	56.21	412.46	32.08	20.14	11.97
12.	ELITECON	16.83	8.70	2690.28	0.00	10.36	-22.37	174.13	85.00	84.18	7.70

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	94	313	525	2,192	1,741
	81	270	452	2,038	1,607
Operating Profit	—	—	—	—	—
OPM %	—	—	—	—	—
Other Income	1	1	0	4	8
Interest	0	0	0	17	18
Depreciation	0	1	1	3	3
	13	43	73	138	121
Tax %	0.07%	-0.05%	1.00%	15.23%	14.40%
Net Profit	13	43	72	117	104
	11	3	0	1	1
Equity Capital	1	160	160	160	160
Reserves	-71	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	1	160	160	160	160
Reserves	-71	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%

Dec 2024

: 94
: 81
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 0
: 13
Tax %: 0.07%
Net Profit: 13
: 11
Equity Capital: 1
Reserves: -71
Promoter Pledge %: 0.00%
Equity Capital: 1
Reserves: -71
Promoter Pledge %: 0.00%

Mar 2025

: 313
: 270
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 1
: 43
Tax %: -0.05%
Net Profit: 43
: 3
Equity Capital: 160
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 160
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 525
: 452
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 1
: 73
Tax %: 1.00%
Net Profit: 72
: 0
Equity Capital: 160
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 160
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 2,192
: 2,038
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 17
Depreciation: 3
: 138
Tax %: 15.23%
Net Profit: 117
: 1
Equity Capital: 160
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 160
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 1,741
: 1,607
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 18
Depreciation: 3
: 121
Tax %: 14.40%
Net Profit: 104
: 1
Equity Capital: 160
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 160
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2025	TTM
	1	1	549	4,771
	1	1	480	4,367
Operating Profit	0	0	72	—
OPM %	2	5	13	—
Other Income	0	0	3	12
Interest	0	0	0	35
Depreciation	0	0	2	6
	-0	0	70	375
Tax %	-42	34	-0	10
Net Profit	-0	0	70	336
EPS	0	0	4	—
Dividend Payout %	0	0	0	—
Minority Interest	0	0	-0	-0
Share of Associates	0	0	0	0
Adjusted EPS	-0	0	0	—
Minority Interest	0	0	-0	-0
Share of Associates	0	0	0	0
Adjusted EPS	-0	0	0	—

Mar 2015

: 1
: 1
Operating Profit: 0
OPM %: 2
Other Income: 0
Interest: 0
Depreciation: 0
: -0
Tax %: -42
Net Profit: -0
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -0

Mar 2016

: 1
: 1
Operating Profit: 0
OPM %: 5
Other Income: 0
Interest: 0
Depreciation: 0
: 0
Tax %: 34
Net Profit: 0
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0

Mar 2025

: 549
: 480
Operating Profit: 72
OPM %: 13
Other Income: 3
Interest: 0
Depreciation: 2
: 70
Tax %: -0
Net Profit: 70
EPS: 4
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 0
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 0

TTM

: 4,771
: 4,367
Operating Profit: —
OPM %: —
Other Income: 12
Interest: 35
Depreciation: 6
: 375
Tax %: 10
Net Profit: 336
EPS: —
Dividend Payout %: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 28%
Last Year:: 85%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2025
LIABILITIES	-	-	-
Equity Capital	1	1	160
	2	2	0
	0	0	2
Trade Payables	0	0	76
	1	1	13
Total Liabilities	4	4	251
ASSETS	-	-	-
	0	0	9
Capital Work in Progress	0	0	8
	1	0	42
	0	0	124
Cash & Bank	1	0	3
	2	3	64
Total Assets	4	4	251
Total Debt	0	0	2
Net Working Capital	3	3	142
Contingent Liabilities	0	0	412
Book Value per Share	28.23	28.94	10.02
Face Value	10.00	10.00	10.00
Total Debt	0	0	2
Net Working Capital	3	3	142
Contingent Liabilities	0	0	412
Book Value per Share	28.23	28.94	10.02
Face Value	10.00	10.00	10.00

Mar 2015

Equity Capital: 1
: 2
: 0
Trade Payables: 0
: 1
Total Liabilities: 4
: 0
Capital Work in Progress: 0
: 1
: 0
Cash & Bank: 1
: 2
Total Assets: 4
Total Debt: 0
Net Working Capital: 3
Contingent Liabilities: 0
Book Value per Share: 28.23
Face Value: 10.00
Total Debt: 0
Net Working Capital: 3
Contingent Liabilities: 0
Book Value per Share: 28.23
Face Value: 10.00

Mar 2016

Equity Capital: 1
: 2
: 0
Trade Payables: 0
: 1
Total Liabilities: 4
: 0
Capital Work in Progress: 0
: 0
: 0
Cash & Bank: 0
: 3
Total Assets: 4
Total Debt: 0
Net Working Capital: 3
Contingent Liabilities: 0
Book Value per Share: 28.94
Face Value: 10.00
Total Debt: 0
Net Working Capital: 3
Contingent Liabilities: 0
Book Value per Share: 28.94
Face Value: 10.00

Mar 2025

Equity Capital: 160
: 0
: 2
Trade Payables: 76
: 13
Total Liabilities: 251
: 9
Capital Work in Progress: 8
: 42
: 124
Cash & Bank: 3
: 64
Total Assets: 251
Total Debt: 2
Net Working Capital: 142
Contingent Liabilities: 412
Book Value per Share: 10.02
Face Value: 10.00
Total Debt: 2
Net Working Capital: 142
Contingent Liabilities: 412
Book Value per Share: 10.02
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2025
	-2	-0	-0
Cash from Investing	0	-0	-20
Cash from Financing	3	0	21
	0	-0	1
Free Cash Flow	-2	-0	-23
OCF / Net Profit	32.11	-3.74	-0.00
Cumulative 5-Year FCF	0	0	0
OCF / Net Profit	32.11	-3.74	-0.00
Cumulative 5-Year FCF	0	0	0

Mar 2015

: -2
Cash from Investing: 0
Cash from Financing: 3
: 0
Free Cash Flow: -2
OCF / Net Profit: 32.11
Cumulative 5-Year FCF: 0
OCF / Net Profit: 32.11
Cumulative 5-Year FCF: 0

Mar 2016

: -0
Cash from Investing: -0
Cash from Financing: 0
: -0
Free Cash Flow: -0
OCF / Net Profit: -3.74
Cumulative 5-Year FCF: 0
OCF / Net Profit: -3.74
Cumulative 5-Year FCF: 0

Mar 2025

: -0
Cash from Investing: -20
Cash from Financing: 21
: 1
Free Cash Flow: -23
OCF / Net Profit: -0.00
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.00
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2025
PER SHARE	-	-	-
EPS (₹)	-0.67	0.27	4.36
Book Value (₹)	28.23	28.94	10.02
Dividend per Share (₹)	0.00	0.00	0.00
Cash EPS (₹)	-0.07	0.03	0.45
PROFITABILITY	-	-	-
Operating Margin %	2.05%	5.10%	12.57%
Net Margin %	-5.44%	2.94%	12.69%
ROE %	-2.37%	0.95%	85.30%
ROCE %	-1.67%	1.40%	84.18%
	-1.89%	0.73%	54.65%
EFFICIENCY	-	-	-
Debtor Days	0	242	42
Inventory Days	154	148	14
Payable Days	0	23	30
	154	367	25
FINANCIAL HEALTH	-	-	-
Debt to Equity (x)	0.00x	0.13x	0.01x
Interest Coverage (x)	0.00x	37.77x	291.61x
	4.82x	3.41x	2.58x
GROWTH	-	-	-
Revenue Growth %	0.00%	-24.91%	0.00%
Operating Profit Growth %	0.00%	86.90%	0.00%
Net Profit Growth %	0.00%	140.67%	0.00%
	0.00%	0.00%	1502.39%
VALUATION	-	-	-
P/E (x)	0.00x	0.00x	7.43x
P/B (x)	0.00x	0.00x	32.31x
Dividend Yield %	0.00%	0.00%	0.00%
	0.00x	0.00x	72.29x

Mar 2015

EPS (₹): -0.67
Book Value (₹): 28.23
Dividend per Share (₹): 0.00
Cash EPS (₹): -0.07
Operating Margin %: 2.05%
Net Margin %: -5.44%
ROE %: -2.37%
ROCE %: -1.67%
: -1.89%
Debtor Days: 0
Inventory Days: 154
Payable Days: 0
: 154
Debt to Equity (x): 0.00x
Interest Coverage (x): 0.00x
: 4.82x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2016

EPS (₹): 0.27
Book Value (₹): 28.94
Dividend per Share (₹): 0.00
Cash EPS (₹): 0.03
Operating Margin %: 5.10%
Net Margin %: 2.94%
ROE %: 0.95%
ROCE %: 1.40%
: 0.73%
Debtor Days: 242
Inventory Days: 148
Payable Days: 23
: 367
Debt to Equity (x): 0.13x
Interest Coverage (x): 37.77x
: 3.41x
Revenue Growth %: -24.91%
Operating Profit Growth %: 86.90%
Net Profit Growth %: 140.67%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2025

EPS (₹): 4.36
Book Value (₹): 10.02
Dividend per Share (₹): 0.00
Cash EPS (₹): 0.45
Operating Margin %: 12.57%
Net Margin %: 12.69%
ROE %: 85.30%
ROCE %: 84.18%
: 54.65%
Debtor Days: 42
Inventory Days: 14
Payable Days: 30
: 25
Debt to Equity (x): 0.01x
Interest Coverage (x): 291.61x
: 2.58x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 1502.39%
P/E (x): 7.43x
P/B (x): 32.31x
Dividend Yield %: 0.00%
: 72.29x

Shareholding Pattern

Numbers in percentages

TRADES

	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

Jun 2024

: 75.00
: 15.49
DIIs: 0.00
Government: 0.00
: 9.51

Sep 2024

: 75.00
: 15.49
DIIs: 0.00
Government: 0.00
: 9.51

Dec 2024

: 75.00
: 15.49
DIIs: 0.00
Government: 0.00
: 9.51

Mar 2025

: 60.00
: 38.30
DIIs: 0.00
Government: 0.00
: 1.70

Jun 2025

: 59.50
: 38.26
DIIs: 0.00
Government: 0.00
: 2.24

Sep 2025

: 59.43
: 38.21
DIIs: 0.00
Government: 0.00
: 2.36

Dec 2025

: 59.43
: 38.00
DIIs: 0.00
Government: 0.00
: 2.57

Mar 2026

: 59.43
: 38.04
DIIs: 0.00
Government: 0.00
: 2.53

Jun 2026

: 59.43
: 36.43
DIIs: 0.00
Government: 0.00
: 4.14

Documents

Announcements

Nothing filed yet.

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Aug 2025
TranscriptPPTREC