Revenue and Profit Growth Trajectory
Elitecon Inter. recorded net sales of ₹548.76 crores in the fiscal year ending March 2025, a striking increase from just ₹0.75 crores in March 2016 and ₹1.30 crores in March 2015. This exponential growth in top-line revenue underscores the company’s successful expansion and market penetration over the years. The total operating income mirrored this trend, rising sharply to ₹548.76 crores in 2025 from under ₹1 crore a decade earlier.
Operating profit before depreciation, interest, and tax (PBDIT) excluding other income surged to ₹69.01 crores in 2025, compared to a negligible ₹0.05 crores in 2016 and ₹0.03 crores in 2015. Including other income, operating profit reached ₹71.62 crores in 2025, reflecting improved operational efficiency and income diversification. The profit before tax stood at ₹69.57 crores in 2025, a significant turnaround from marginal losses and near breakeven in earlier years.
Profit after tax (PAT) followed suit, registering ₹69.65 crores in 2025, compared to a loss of ₹0.07 crores in 2015 and a minimal profit of ₹0.03 crores in 2016. The PAT margin improved substantially to 12.69% in 2025 from negative margins in 2015 and a modest 3.37% in 2016, indicating enhanced profitability and cost management.
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Cost Structure and Margins
The company’s expenditure profile evolved alongside its growth. Raw material costs and purchases of finished goods accounted for the bulk of expenses in 2025, with ₹227.55 crores and ₹243.42 crores respectively. Other expenses, including employee costs and manufacturing expenses, remained relatively low, reflecting operational discipline. Total expenditure excluding depreciation rose to ₹479.75 crores in 2025 from under ₹1.3 crores in 2015.
Elitecon Inter.’s operating profit margin excluding other income improved markedly to 12.58% in 2025, up from 2.07% in 2015 and 4.8% in 2016. Gross profit margin also turned positive at 13.01% in 2025, reversing a negative margin of -3.84% in 2015. These margin expansions highlight the company’s ability to scale efficiently and enhance profitability.
Balance Sheet and Financial Position
The company’s balance sheet expanded significantly, with total assets rising to ₹250.73 crores in 2025 from just ₹3.76 crores in 2015. Shareholder’s funds increased to ₹160.23 crores in 2025, reflecting equity infusion and retained earnings growth. The equity capital also saw a substantial increase to ₹159.85 crores in 2025 from ₹1.06 crores in 2015 and 2016, indicating capital restructuring and expansion.
Long-term borrowings appeared modest at ₹0.44 crores in 2025, while short-term borrowings stood at ₹1.56 crores, suggesting a conservative approach to debt financing. Trade payables and other current liabilities increased in line with business scale, with current liabilities reaching ₹89.89 crores in 2025. The company’s net block of fixed assets was ₹9 crores, supplemented by capital work in progress of ₹8.45 crores, signalling ongoing investments in capacity or infrastructure.
Cash Flow and Liquidity
Cash flow from operating activities remained neutral in 2025, following negative cash flows in prior years. The company invested ₹20 crores in investing activities in 2025, balanced by an equivalent inflow from financing activities, indicating active capital deployment and funding. Closing cash and cash equivalents improved to ₹2 crores in 2025 from ₹0.26 crores in 2016 and ₹0.62 crores in 2015, reflecting better liquidity management.
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Key Financial Ratios and Shareholder Returns
Earnings per share (EPS) showed a recovery trajectory, moving from a loss of ₹0.67 per share in 2015 to a positive ₹0.31 in 2016, and stabilising at ₹0.04 in 2025 on a face value adjustment basis. The diluted EPS in 2025 was ₹0.17, indicating some dilution effects but overall positive earnings generation. Book value per share adjusted declined to ₹1.002 in 2025 from ₹28.35 in 2015, reflecting the impact of equity restructuring and capital increases.
Public shareholding and pledged promoter holdings remained at zero throughout the period, suggesting a closely held ownership structure. The company’s contingent liabilities rose sharply to ₹411.69 crores in 2025, a factor investors should monitor closely for potential risk exposure.
Conclusion
Elitecon Inter. has exhibited a dramatic turnaround and growth over the last decade, transforming from a near negligible revenue and profit base to a sizeable enterprise with robust sales and profitability. The company’s expanding asset base, improved margins, and positive cash flow dynamics reflect a successful scaling strategy. However, investors should remain cautious about the sizeable contingent liabilities and closely monitor future capital expenditure and debt levels. Overall, Elitecon Inter.’s historical performance presents a compelling case of growth and operational improvement within its sector.
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