Elitecon International Share Price Surges 5% Amid Broader Market Decline

Market Trends: Elitecon International Shares Surge Amid Global Turmoil

The global stock market experienced a weak trend on Thursday, April 23, as brent crude oil prices surpassed $100 per barrel following Iran's seizure of two vessels in the Strait of Hormuz, with no indication of peace negotiations restarting. Amid this volatility, Elitecon International shares surprisingly surged by 5% on Thursday, defying the overall market trend.

Elitecon International shares have shown a modest gain in the short term, reflecting a gradual upward trend. Over the past one week, the stock has risen by 0.15 points, translating to a gain of 0.36%. The momentum has improved over a slightly longer horizon, with the stock gaining 2.12 points over the last two weeks, up 5.37%.

The company's recent announcement of securing a long-term supply agreement with South Africa's Bozza Tobacco (PTY) for the provision of cigarettes and various tobacco products has likely contributed to the surge in its stock price. The contract, valued at ₹202 crore, will see the company deliver its tobacco offerings, including cigarettes under the brands Red and Black, B&W, Cape, Ossum, Golden Flake, and others.

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Elitecon International reported a sharp surge in its consolidated financial performance for Q3 FY26, driven by strong topline growth and improved operating efficiency. Revenue from operations rose to ₹1,741.26 crore in Q3 FY26, compared to ₹94.12 crore in the same quarter last year. For the nine-month period of FY26, revenue stood at ₹5,476.89 crore, nearly 23 times higher than ₹235.60 crore reported in the corresponding period of FY25.

At the operating level, EBITDA increased to ₹139.25 crore in Q3 FY26 from ₹13.38 crore a year ago. For the nine months, EBITDA came in at ₹404.67 crore versus ₹26.69 crore in the previous year. Profit after tax (PAT) also saw strong growth, rising to ₹103.57 crore in Q3 FY26 from ₹13.34 crore in Q3 FY25. For the nine-month period, PAT stood at ₹311.17 crore, compared to ₹26.68 crore last year, supported by robust revenue growth and effective cost management.