Elitecon International Limited has successfully completed its postal ballot process, announcing the passage of three special resolutions with overwhelming shareholder support. The remote e-voting process, conducted from December 29, 2025 to January 27, 2026, concluded with all proposed resolutions receiving requisite majority approval from shareholders.

Postal Ballot Process Overview

The postal ballot was initiated through a notice dated December 27, 2025, with voting commencing on December 29, 2025 at 09:00 AM and concluding on January 27, 2026 at 5:00 PM. The company had 65,588 total shareholders on the record date of December 22, 2025, eligible to participate in the voting process.

Resolution Results and Shareholder Participation

All three special resolutions were approved with substantial shareholder support. The voting results demonstrated strong confidence from both promoter groups and public shareholders in the company's strategic initiatives.

Resolution 1: Investment and Lending Authorization

The first resolution authorized the company to make investments, give loans, guarantees and security exceeding limits specified under Section 186 of the Companies Act, 2013.

Resolution 2: Independent Director Appointment

The second resolution regularized the appointment of Ms. Anjali Damboria (DIN: 11061917) as an Independent Director in the Non-Executive Independent Director category.

Resolution 3: Enhanced Borrowing Powers

The third resolution increased the company's borrowing powers under Section 180(1)(c) of the Companies Act, 2013 up to INR 500 crores.

Scrutinizer Report and Compliance

Aakash Goel, proprietor of G Aakash & Associates, Company Secretaries, served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report confirmed that all special resolutions were passed with requisite majority, ensuring compliance with Section 108 and 109 of the Companies Act 2013 and relevant rules.

The votes were unlocked on January 28, 2026 at 12:43 PM in the presence of two independent witnesses, Ms. Chhavi Agrawal and Ms. Sakshi Goel. The voting results and scrutinizer report have been uploaded on the company's website and Bigshare Services Private Limited's platform, which provided the remote e-voting facility.

Regulatory Compliance and Disclosure

The company submitted the voting results under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Managing Director Vipin Sharma (DIN: 01739519) signed the submission documents on January 29, 2026, ensuring timely compliance with regulatory requirements. The results have been communicated to BSE Limited and The Calcutta Stock Exchange Ltd., where the company's shares are listed under scrip code 539533.

Elitecon International shares demonstrated remarkable resilience during Tuesday's trading session, hitting the 5% upper circuit limit despite broader market weakness that pushed domestic equity indices to their lowest levels in over two months.

Stock Performance Details

The multibagger small-cap stock showed strong momentum throughout the trading session, with key performance metrics highlighting investor confidence:

Strategic Merger Announcement

The stock's impressive performance came following a significant corporate development announced by the company's board. Elitecon International revealed it is considering a strategic merger involving three companies, pending necessary regulatory approvals.

Strategic Objectives and Benefits

The proposed merger represents a comprehensive business consolidation strategy designed to deliver multiple operational and financial benefits. According to the company's filing with the stock exchange, the merger aims to:

• Unify various business sectors under a single operational framework
• Enhance operational scale and efficiency across merged entities
• Optimize resource utilization and allocation
• Strengthen the company's overall balance sheet position
• Improve long-term earnings potential and market competitiveness

Management Commentary

The board expressed confidence in the strategic value of the proposed transaction, stating that the merger would position Elitecon International on a more robust strategic foundation. According to their communication to the stock exchange, the company believes this transaction aligns with its long-term objectives of expansion, diversification, and responsible growth.

The merger proposal reflects the company's commitment to building a stronger, more diversified business platform that can better serve market demands while creating enhanced value for shareholders through improved operational efficiency and expanded market presence.