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 the ....
ELITECON · price
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Elitecon International Limited reported its audited financial results for Q4 and FY25 on May 27, 2025. On a standalone basis, total income from operations surged to Rs. 30,030.86 lakhs in FY25 from Rs. 5,682.35 lakhs in FY24, while net profit jumped to Rs. 3,226.07 lakhs from Rs. 478.01 lakhs. On a consolidated basis, total income stood at Rs. 55,136.28 lakhs with net profit of Rs. 6,964.58 lakhs and EPS of Rs. 17.49. The company completed conversion of 13.6 crore share warrants into equity shares and an additional preferential allotment of 2.26 crore shares, raising the paid-up equity capital from Rs. 121 lakhs to Rs. 15,985 lakhs. Auditors (V.N. Purohit & Co.) issued an unqualified opinion on both standalone and consolidated results. However, the company disclosed a massive GST Show Cause Notice of Rs. 387.43 crores from DGGI for Oct 2020–Oct 2024, plus four additional SCNs for Rs. 22.23 crores related to refunds.
Shares surged on strong top-line and bottom-line growth, but EPS was diluted significantly due to the massive equity expansion. The Rs. 387.43 crore GST notice is a serious overhang — nearly 13x the company's standalone revenue — and could materially impact future financials if the adjudication goes against the company. Shareholders should weigh the strong operational turnaround against this significant tax litigation risk.