Elitecon International consolidated revenue surged 9.2 times year-on-year to ₹5,074.80 crore for the financial year ended March 31, 2026. Profit after tax (PAT) expanded 2.7 times to ₹185.06 crore, reflecting the impact of recent acquisitions in the edible oil and agro sectors alongside full-year international operations.

The Board of Directors approved the audited standalone and consolidated financial results on September 21, 2026. The company also announced changes in its internal auditor and noted several ongoing regulatory proceedings and legal disputes in its disclosures.

Financial Performance

Consolidated revenue from operations stood at ₹5,074.80 crore, a significant increase from ₹548.76 crore in FY25. Total income reached ₹5,084.35 crore, while total expenses were ₹4,888.36 crore. Profit before tax was ₹195.98 crore, compared to ₹69.57 crore in the previous year. After accounting for a tax expense of ₹10.92 crore, the group reported a PAT of ₹185.06 crore. Earnings per share (basic) on a face value of ₹1 per share were ₹1.16, down from ₹1.75 in FY25 due to share subdivision adjustments.

Standalone revenue grew 5.1 times to ₹1,529.50 crore from ₹297.51 crore in FY25. However, the standalone entity reported a loss before tax of ₹4,441.81 lakh for the quarter ended March 31, 2026, resulting in a profit for the period of (₹3,703.38 lakh).

What the Numbers Show

The dramatic growth in consolidated figures is primarily structural rather than organic. The group consolidated Sunbridge Agro and Landsmill Agro from September 30, 2025, meaning only six months of their profits are included in FY26. Consequently, while revenue scaled nearly tenfold, PAT grew at a slower multiple (2.7x), indicating that the newly acquired edible oil and agro businesses have lower margin profiles compared to the existing tobacco operations or that integration costs are impacting near-term profitability.

Audit Qualifications and Regulatory Matters

The independent auditors, V.N. Purohit & Co., issued a qualified opinion on both standalone and consolidated financial results. Key qualifications include:

• Ind AS Non-alignment: Subsidiaries Golden Cryo, Landsmill Agro, and Sunbridge Agro prepared statements under Indian GAAP without necessary Ind AS conversion adjustments.
• Seized Assets: Inventories worth ₹906.25 lakh and machinery valued at ₹123.02 lakh remain seized by the Food and Drug Administration since January 9, 2026. Auditors could not verify carrying values.
• Legal Disputes: Proceedings involving an alleged amount of ₹6,400.00 lakh by Advik Capital Limited are pending before the Delhi High Court and NCLT. The company disputes these claims.

The auditors highlighted a material uncertainty related to going concern due to ongoing proceedings with SEBI, DGGI, and other authorities. Additionally, the company disclosed a prior period error where pre-acquisition revenues of subsidiaries were inadvertently included in earlier quarterly filings, which has now been restated.

Corporate Developments

Elitecon appointed M/s Geeta & Co., Chartered Accountants, as its new internal auditors for FY27, replacing M/s Jain & Rajeev Associates who resigned due to preoccupation. The board also reconstituted its leadership, appointing Pradeep Kumar as Managing Director and adding three independent directors, including the company's first woman independent director, Prachi Gupta.

Elitecon International board approved the appointment of several directors and a managing director during its meeting on September 18, 2026. The company will seek shareholder approval through a postal ballot and remote e-voting process.

The Board of Directors considered and approved the Postal Ballot Notice, remote e-voting arrangements, and the appointment of the Scrutinizer. These actions were taken pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Appointments

The ballot seeks member approval for the following appointments:

• Mr. Vipin Sharma as Director
• Mr. Pradeep Kumar as Director and Managing Director, including approval of his appointment terms and remuneration
• Mr. Paramjeet Singh Gulati as Director
• Ms. Prachi Gupta as Non-Executive Independent Woman Director
• Ms. Nisha and Mr. Suraj Singh as Non-Executive Independent Directors

Mr. Neeraj Bajaj, Practising Company Secretary, was appointed as the Scrutinizer for the process. Bigshare Services Private Limited will handle the remote e-voting arrangements.

Voting Schedule

The cut-off date for determining members entitled to receive the notice and vote is September 11, 2026. The Postal Ballot Notice was dispatched on September 18, 2026.

The Board Meeting commenced at 11:00 a.m. and concluded at 12:00 p.m. at the company’s office in New Delhi.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE669R01026/1f982f82-afec-4a75-af44-fe9e046001bf.pdf