Elitecon International Limited has announced significant changes to its board of directors, effective October 28, 2025. The company's board approved the appointment of a new independent director while simultaneously accepting the resignation of another.

New Appointment

Ms. Anjali Bamboria has been appointed as an Additional Director in the category of Non-Executive Independent Director. Her appointment comes into effect from October 28, 2025.

Key Details of Ms. Anjali Bamboria:

Ms. Bamboria brings a wealth of knowledge in corporate laws, taxation, and financial management to the board. Her expertise in drafting various corporate documents, including notices and resolutions, is expected to be valuable to the company.

Resignation

Simultaneously, the board noted the resignation of Ms. Preeti from her position as Non-Executive Independent Director, also effective October 28, 2025. Ms. Preeti cited personal reasons for her departure.

Ms. Preeti's Current Directorships in Listed Entities:

The board meeting where these changes were approved was held on October 28, 2025, from 4:00 P.M. to 4:30 P.M.

Elitecon International Limited has confirmed that Ms. Anjali Bamboria is not debarred from holding the office of director by virtue of any SEBI order or any other authority. The company has also stated that there are no material reasons for Ms. Preeti's resignation other than the personal reasons provided.

These board changes come as part of Elitecon International Limited's ongoing commitment to maintaining strong corporate governance and bringing diverse expertise to its leadership team.

Elitecon International has made a significant move to strengthen its position in the FMCG sector by acquiring majority stakes in two agro companies. The acquisitions, totaling Rs 181.25 crores, are set to expand Elitecon's presence in the agro products and allied activities segment.

Key Acquisition Details

Elitecon has acquired controlling stakes in two companies:

1. Landsmill Agro Private Limited:

   • 55% stake acquired for Rs 52.85 crores
   • Turnover of Rs 1,394.80 crores

2. Sunbridge Agro Private Limited:

   • 51.65% stake acquired for Rs 128.40 crores
   • Turnover of Rs 1,443.04 crores

The acquisitions were made through cash considerations, as detailed in the company's filing to the stock exchanges.

Strategic Rationale

According to the company's disclosure, the primary objective of these acquisitions is to expand and strengthen Elitecon's FMCG business vertical. By consolidating its presence through these acquisitions, Elitecon aims to:

• Enhance operational scale
• Increase product depth
• Diversify revenue streams

Acquisition Terms

Elitecon has outlined its plans to acquire 100% equity stakes in both entities within a 12-month period. The specifics of the transactions are as follows:

• Landsmill Agro: Acquired 51,48,000 equity shares at Rs 102.67 per share
• Sunbridge Agro: Acquired 98,77,138 equity shares at Rs 130 per share

Company Backgrounds

Landsmill Agro Private Limited

• Incorporated on October 3, 2019
• Paid-up share capital of Rs 9.36 crores
• Turnover growth:

Sunbridge Agro Private Limited

• Incorporated on February 7, 2022
• Paid-up share capital of Rs 19.12 crores
• Turnover growth:

Both companies are engaged in the business of agro products and allied activities, aligning with Elitecon's existing operations in the FMCG sector.

Market Impact

These strategic acquisitions are expected to significantly boost Elitecon International's market presence in the agro-based FMCG segment. The combined turnover of the acquired entities, totaling over Rs 2,800 crores, represents a substantial addition to Elitecon's business operations.

As Elitecon International moves forward with its expansion plans, investors and market watchers will be keen to observe how these acquisitions translate into growth and value creation for the company in the competitive FMCG landscape.