Elitecon International Limited has announced its 38th Annual General Meeting (AGM) will be held on September 30, 2025, at 3:00 PM through video conferencing. The company's Board of Directors made several key decisions in a meeting on September 6, 2025.

AGM and Financial Reporting

The Board approved the Annual Report for the fiscal year 2024-25. The AGM will be conducted virtually, in line with regulatory guidelines amid ongoing precautions. The company has set the book closure period from September 24 to September 30, 2025.

New Appointments

Mr. Aakash Goel of G Aakash & Associates has been appointed as both the scrutinizer for the AGM and the secretarial auditor for five consecutive years, from FY 2025-26 to FY 2029-30, subject to shareholder approval.

In a significant move, the Board has appointed Mr. Edward Michael Bourgoin as an Additional Non-Executive Independent Director, effective September 6, 2025. Mr. Bourgoin, a British citizen with a Bachelor of Arts from the University of Cambridge, brings extensive corporate experience to Elitecon. He currently holds board positions in several companies, including Buckingham Square Limited and MB Power (Madhya Pradesh) Limited.

E-Voting Details

Elitecon has arranged for remote e-voting facilities for shareholders. The e-voting period will run from September 27 to September 29, 2025, with September 23, 2025, set as the cut-off date for determining voting eligibility.

Financial Performance

While specific financial figures were not provided in the announcement, the company stated that the Annual Report for FY 2024-25 has been approved by the Board, indicating that comprehensive financial results will be available to shareholders in due course.

Elitecon International Limited, listed on the BSE and Calcutta Stock Exchange, continues to evolve its corporate governance practices and board composition as it moves forward in the tobacco and allied products sector.

In a remarkable display of market performance, 33 stocks have delivered exceptional returns since the previous Ganesh Chaturthi, with Elitecon International emerging as the frontrunner with an astounding 22,344% gain. This surge in select stocks comes against the backdrop of a broader market that has seen mixed results.

Top Performers

Elitecon International's extraordinary performance was followed by impressive gains from other companies:

These figures are particularly noteworthy given that the analysis covered stocks with a market capitalization of Rs 1,500 crore or more, indicating significant movements in well-established companies.

Market Context

While these select stocks have shown remarkable growth, the broader market has faced challenges:

• The Nifty index fell 0.60% during the same period
• Currently, the Nifty is down 6.00% from its peak of 26,277.35 reached on September 27

Broader Market Performance

The market has shown a mix of winners and losers:

• 265 stocks delivered double-digit returns, with gains up to 98.00%
• Among Nifty stocks, Eicher Motors led with a 26.00% return
• However, 790 stocks posted negative returns
• Approximately 600 stocks declined by up to 76.00%

Investor Insight

This diverse market performance underscores the importance of careful stock selection and the potential for significant returns in specific sectors or companies, even in a challenging market environment. While some stocks have shown extraordinary gains, investors should note that past performance does not guarantee future results and should conduct thorough research before making investment decisions.

The stark contrast between the top performers and the broader market decline highlights the current volatility and selectivity in the Indian stock market. As always, a balanced and well-researched approach to investing remains crucial in navigating these market conditions.