FMCG Stock’s Big Announcement: Full Dividend Paid Only To Non-Promoters, Promoters Forgo Rs 47.5 Cr

The Board of Directors of Elitecon International Ltd., a small-cap FMCG company, declared an interim dividend of 5% per equity share at a face value of Rs. 1 each for the financial year 2025-2026 at its meeting on November 5, 2025, and decided to establish November 12, 2025, as the record date to determine eligible shareholders for the said dividend. In full accordance with the declaration of November 5, 2025, and record date November 12, 2025, the company has successfully paid the whole amount of the interim dividend to all eligible NonPromoter Category Shareholders.

"To provide further clarity and evidence of actual payment processing, a copy of the Dividend Payment Instruction Letter issued to our Bank has been enclosed along with this announcement, confirming that payment has been released only in favour of eligible Non-Promoter Shareholders," said Elitecon International in a BSE filing.

"All Promoter Category Shareholders of the Company have voluntarily relinquished/waived their entire entitlement to the said interim dividend, amounting to approximately INR 47.5 million," Elitecon International further informed the stock exchanges.

Elitecon International said the relinquishment by promoters is entirely voluntary and has been undertaken with the intention to strengthen the company's internal financial resources, support future growth, expansion and working capital requirements and enhance long-term value creation for all stakeholders.

Elitecon International has also clarified that the relinquishment of interim dividend by promoters is completely voluntary, the interim dividend has been paid to all non-promoter shareholders as per the declaration dated 05 November 2025 and Record Date 12 November 2025 and there is no change or impact on the shareholding pattern of the company due to such relinquishment.

The promoter category Shareholders' support demonstrates their dedication to the company's long-term growth and enhancement of shareholder value.

"We further confirm that the promoter category shareholders have voluntarily waived their dividend entitlements and therefore no dividend is payable to them, as reflected in the enclosed statement. Accordingly, the dividend amount payable pertains only to public (non-promoter) shareholders," Elitecon International confirmed in the dividend payment instruction letter.

High-quality food and tobacco are supplied to international markets by Elitecon International, a prominent FMCG and tobacco export company from India. With operations in more than 50 countries throughout Asia, Europe, and the Middle East, Elitecon International has a manufacturing site in Nashik, Maharashtra. Elitecon's portfolio is as varied as its reach. With a history that dates back to 1987, Elitecon International Limited, formerly known as Kashiram Jain & Company Limited, is a publicly traded company on the BSE.

The stock has made a significant recovery from its 52-week low, but it is still trading much below its 52-week high at the current market price of Rs 90.16. The stock has gone up by 1,116.73% from its low of Rs 7.41 reached on 06/12/2024, demonstrating exceptional value creation for investors. However, the stock is still down 78.67% from its 52-week high of Rs 422.65, which was hit on August 25, 2025. This suggests that although the recovery has been robust, it is still well below the peak.