Pursuant to the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that ....
ELITECON · price
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Awaiting price reaction for this filing.
The Board of Elitecon International Limited met on May 27, 2025 (6:30 PM to 7:45 PM) and approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025. Consolidated FY25 revenue surged to ₹54,875.71 lakhs with a net profit of ₹6,964.89 lakhs and EPS of ₹17.49. On a standalone basis, FY25 revenue jumped sharply to ₹29,750.83 lakhs from ₹5,682.35 lakhs in FY24, with profit rising to ₹3,220.99 lakhs from ₹478.01 lakhs. Q4 FY25 standalone profit was ₹1,221.11 lakhs on revenue of ₹12,041.10 lakhs. During FY25, the company completed a preferential allotment of 22,64,000 equity shares (₹22.64 crore) to promoter group and identified non-promoters, and also fully converted 1,30,00,000 share warrants. Results include subsidiaries Elitecon International FZ LLC (Dubai) and Golden Cryo Private Limited (India, 99.32%). Two tax concerns are flagged: a DGGI show cause notice dated May 9, 2025 for ₹387.43 crores covering Oct 2020–Oct 2024, and four show cause notices dated Jan 13, 2025 for ₹22.23 crores related to CGST refunds—both pending adjudication. Auditor V.N. Purohit & Co. issued an unqualified opinion.
The dramatic year-on-year jump in both standalone revenue (5x) and profits (~6.7x) is a strong positive signal for shareholders, reflecting business expansion. However, the ₹387.43 crore DGGI show cause notice is a very significant regulatory overhang—roughly several times the company's annual revenue—that could materially impact financials if the demand is upheld. Investors should weigh the strong operating performance against this large pending tax exposure.