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Elitecon International hits 5% upper circuit as board meets 12 October to weigh fundraise
Elitecon International reported FY26 consolidated net profit of ₹185.06 crore, up from ₹69.65 crore in FY25, on revenue of ₹5,074.80 crore. Its board meets on 12 October to consider a fundraise, and the stock hit a 5% upper circuit.
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The numbers
Figures from Mint,
| Year-to-date share price decline: | 92.62% |
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Why it matters to operators and investors
The 5% upper circuit on news of the 12 October board meeting does not offset a 92.62% year-to-date fall, so wait for the size, price and instrument of the fundraise (and any dilution) before reading FY26 net profit of ₹185.06 crore, up from ₹69.65 crore, as a turnaround.
What to watch next
- The exchange filing after the 12 October board meeting: instrument, size and pricing of the raise
- Whether the stock keeps hitting 5% circuits or reverses after the outcome
- Any exchange surveillance measure or price-band change on the stock
- Names of investors or allottees, and any shareholder-approval notice (EGM or postal ballot)
- Auditor remarks or analyst questions on the jump in FY26 revenue from ₹548.76 crore