Elitecon International gains after bagging Rs 2.02 billion supply contract
Elitecon International rose 2.78% to Rs 40.60 after the company announced that it has secured a long-term supply contract for cigarettes and other tobacco-related products, aggregating to Rs 2.02 billion.
The contract covers the supply of the companys tobacco products, including cigarette brands such as Red and Black, B&W, Cape, Ossum, and Golden Flake. The agreement became effective on 6 April 2026 and was signed on 14 April 2026, with payment terms set at 90 days from delivery.
The company stated that the order provides steady export visibility over the contract period and reflects sustained demand in international markets. It is expected to support efficient capacity utilization, improve operational planning, and contribute positively to business stability and long-term growth.
The agreement also strengthens the companys presence in South African markets and supports its broader strategy of expanding exports across the African continent while building a scalable and sustainable business model.
The company clarified that neither its promoters nor promoter group entities have any interest in the awarding entity and the transaction does not qualify as a related-party transaction.
Elitecon added that the deal strengthens its footprint in Middle Eastern markets and aligns with its strategy of expanding exports while building a scalable and sustainable business model. The company expects the order to contribute positively to business stability and long-term growth.
Elitecon International is engaged in the manufacturing and trading of all kinds of tobacco, cigarettes, smoking and other products of tobacco.
On a consolidated basis, the companys net profit zoomed 676.4% to Rs 103.57 crore while net sales soars 1,750% to Rs 1,741.26 crore in Q3 FY26 over Q3 FY25.
