After 10:1 Stock Split In June, Tobacco Stock Is Planning For Rs 75 Crore Fundraising Deal; Hits Upper Circuit

Shares of Elitecon International Ltd. climbed the 5-per-cent upper circuit yet again on Wednesday, marking the third straight day of the same limit. The stock was pegged at Rs 69.67 on the BSE, a level that reflects hearty investor faith in its recent earnings and in the capital-raising plan being discussed by the board.

By 10:40 AM the stock was still locked at Rs 69.67, whereas over the past month, Elitecon has returned 48 per cent, and the three-month tally shows a gain of more than 106 per cent. Year-to-date, the stock is up 572 per cent, while the one-year performance takes the eye-stopping form of nearly 6200 per cent, earning the title of multibagger and making it one of the hottest names on the exchange.

The recent share rally stems from Elitecon International's public disclosure that its Board will soon evaluate a major fundraising plan. During the previous Board session on July 1, 2025, directors opted to table the proposal until the next gathering on Friday, July 4, 2025. At that meeting, the team expects to review an initiative to raise up to Rs 75 crore via instruments such as preferential allotment, convertible warrants, Foreign Currency Convertible Bonds (FCCBs), and Qualified Institutional Placement (QIP), along with any other channels that receive the necessary approvals from regulators and shareholders.

Listed on the BSE, the smallcap firm Elitecon International, which specializes in tobacco products, recently announced a 10:1 stock split, splitting each share with a face value of Rs 10 into 10 Re 1 shares. The record date for the purpose of the same was June 25, 2025. Enhancing liquidity and rewarding shareholders are the goals of the action.

Encouraged by strong financial results, investors are increasingly optimistic about the company's future. For the fourth quarter of FY25, consolidated net sales jumped 232 per cent year-on-year to Rs 313.16 crore, while net profit climbed 222 per cent to Rs 42.97 crore. Standalone figures for the full year also impressed, with sales increasing 424 per cent to Rs 297.51 crore and profit rising 574 per cent to Rs 32.21 crore versus FY24. On a consolidated level, Elitecon reported total FY25 sales of Rs 548.76 crore and a net profit of Rs 69.65 crore.

Founded in 1987, Elitecon International produces and sells a wide range of tobacco and tobacco-related products for customers in India and around the world. Its portfolio features smoking mixtures, cigarettes, pouch khaini, zarda, two-slice molasses, and filter khaini. Operating in the UAE, Singapore, Hong Kong, the UK, and throughout Europe, the company actively seeks new avenues, including chewing tobacco, snuff grinders, and match-related items. Among its registered brands are Inhale cigarettes, Al Noor shisha, and Gurh Gurh smoking mixtures.