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ELITECON · price
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Elitecon International reported strong Q1 FY26 results (quarter ended June 30, 2025). On a standalone basis, revenue jumped to ₹19,929 lakhs from ₹4,956 lakhs in Q1 FY25 — roughly a 4x jump year-on-year, driven by its new Agro Products segment which contributed ₹9,871 lakhs. Standalone profit after tax surged to ₹2,041 lakhs from ₹454 lakhs (around 350% growth). On a consolidated basis, total income stood at ₹52,487 lakhs with PAT of ₹7,208 lakhs versus ₹4,297 lakhs in the previous quarter. The Board also approved the incorporation of a wholly-owned subsidiary in Indonesia and a stock split (sub-division of shares from ₹10 face value to ₹1 face value, effective in June 2025). The auditor (V.N. Purohit & Co.) gave an unqualified review report but flagged a loss of ₹575.45 lakhs from disposal of old equipment at subsidiary Golden Cryo, a massive GST Show Cause Notice of ₹387.43 crores from DGGI for Oct 2020–Oct 2024, and four additional SCNs worth ₹22.23 crores related to CGST refunds.
The headline numbers are very strong, but shareholders should weigh them against a large ₹387+ crore GST demand that is pending adjudication — if upheld, this could materially affect the company. The new Indonesia subsidiary and entry into agro products signal growth ambitions. The 10:1 stock split improves liquidity and affordability for retail investors.