Penny Stock with High Promoter Holding: Revenue Jumps 2,357 Per cent, Profit Climbs 600 Per cent, Stock Locks in Upper Circuit
FIIs hold around 15.49 per cent stake in the company.
This micro-cap company specializes in the production and trading of tobacco and related products. The company caters to both domestic and international markets, with a strong presence in regions such as the UAE, Singapore, Hong Kong, and European countries, including the UK. The company has posted an impressive quarterly result.
Financial Performance
As per Quarterly Results, Elitecon International Ltd in Sep 2024 reported a revenue of Rs 79.13 crore compared to Rs 49.56 crore representing a growth of around 2357 per cent YoY. The company posted an operating profit of Rs 8.21 crore with a margin of around 10.38 per cent compared to Rs 1.93 crore. The company’s net profit stood at Rs 8.84 crore for the period compared to a profit of Rs 1.25 crore same quarter last year.
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Looking at the annual performance, the company generated a revenue of Rs 57 crore in FY24 compared to Rs 58 crore in FY23 representing a de-growth of around 2 per cent YoY. The operating profit for FY24 was Rs 7 crore compared to a loss of Rs 76 crore in FY23. The company reported a net profit of Rs 5 crore compared to a loss of Rs 78 crore.
Share Performance
At the start of Thursday’s trading session, Elitecon International Ltd opened at Rs 56.22 per share, compared to the last day’s closing price of Rs 55.12 per share on the BSE. Finally, the shares closed the day at around Rs 56.22 per share on the BSE. The current market capitalization stands at Rs 6.80 crore, and the stock has generated an impressive return of over 54 in the past 1 month.
Disclaimer: The article is for informational purposes only and not investment advice.