Elitecon International shares locked at the 5% upper circuit on Wednesday, reaching ₹99.80 and snapping a three-session losing streak. The small-cap stock's rally coincided with a modest recovery in Indian equities during the final trading session, reigniting investor interest in one of the market's most volatile multibagger performers.

Exceptional Long-Term Performance Despite Volatility

Despite recent price swings, Elitecon International's longer-term performance remains extraordinary. The stock has delivered remarkable returns across multiple timeframes, though the journey has been marked by significant volatility.

The stock's 52-week trading range demonstrates the extreme volatility that has defined investor experience, with shares hitting a high of ₹422.65 on August 25 and touching a low of ₹10.17 on December 31, 2024.

Enhanced Borrowing Capacity for Growth

In a recent regulatory filing, Elitecon International announced significant expansion of its financial capabilities. The company moved to increase its borrowing powers under Section 180(1)(C) of The Companies Act, 2013, up to ₹500 crores, subject to shareholder approval.

The enhanced limit will allow the company to make investments, provide loans, guarantees and security in excess of limits specified under Section 186 of the Companies Act, 2013. This move is expected to provide Elitecon International with greater financial flexibility as it scales up its operations.

Major Export Contract Secured

Earlier this month, the tobacco products manufacturer announced a substantial export win that provides long-term business visibility. On December 15, Elitecon International secured a significant supply contract with international markets.

The company stated that this long-term supply order provides steady export visibility over the contract period and reflects continued demand for its products in international markets. The substantial contract value represents a significant business development for the tobacco products manufacturer.

Market Context and Trading Activity

Wednesday's upper circuit move came as Indian equity markets staged a tentative year-end rebound, with both Sensex and Nifty 50 trading marginally higher after four consecutive days of losses. The stock's sharp move reflected renewed buying interest in a counter that has delivered exceptional long-term gains while testing investor patience with dramatic price fluctuations.

Elitecon International's journey from penny stock status to multibagger performance has been characterized by extreme volatility, making it one of the most closely watched small-cap stocks in the tobacco products sector.

Elitecon International Limited has issued a postal ballot notice for its Extra-ordinary General Meeting (EGM) No. 03/2025-26, scheduled to be conducted through electronic voting from December 29, 2025 to January 27, 2026. The company has set December 22, 2025 as the record date for determining eligible shareholders.

Key Meeting Details

The postal ballot process will be conducted in accordance with Section 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Regulations. The company has appointed G Aakash & Associates as the scrutinizer and engaged Bigshare Services Pvt Ltd to provide e-voting facilities.

Special Resolutions for Approval

Investment and Lending Authority Enhancement

The first special resolution seeks shareholder approval to increase the company's investment, lending, and guarantee limits under Section 186 of the Companies Act, 2013. The proposed limit would allow the company to exceed statutory thresholds by up to ₹750.00 crores over and above sixty percent of paid-up share capital, free reserves, and securities premium account.

Director Appointment Regularization

Shareholders will vote on regularizing the appointment of Ms. Anjali Bamboria (DIN: 11061917) as an Independent Director. She was initially appointed as Additional Director on October 28, 2025, and the resolution proposes her appointment for a five-year term until October 27, 2030.

Borrowing Powers Enhancement

The third special resolution proposes to increase the company's borrowing powers under Section 180(1)(c) of the Companies Act, 2013 to ₹500.00 crores. This enhancement aims to provide greater financial flexibility for the company's business operations and future growth plans.

Voting Process and Timeline

The e-voting facility will be available to all shareholders whose names appear in the register of members as on the record date. The company will not send physical copies of the postal ballot form, and voting will be conducted entirely through electronic means. Results will be announced within two working days of the voting conclusion and will be available on the company's website and stock exchange platforms.

The resolutions, if passed by requisite majority, will be deemed effective from January 27, 2026, being the last date specified for e-voting.