Elitecon International Announces Interim Dividend to Non-Promoter Shareholders as Promoter Waiver Signals Growth Strategy

Elitecon International Ltd. has confirmed that an interim dividend for financial year 2025-2026 has been fully paid to eligible non-promoter shareholders, while all promoter shareholders have given up their entire entitlement. The waiver, worth about INR 47.5 million, has been described as a voluntary step aimed at supporting the company’s long-term financial strength and growth plans.

The Board of Directors had earlier approved an interim dividend of 5% per equity share, based on a face value of Rs. 1 each, at a meeting held on November 5, 2025. The company fixed November 12, 2025 as the record date, and has stated that payments have been processed strictly according to this schedule and shareholder eligibility list.

Elitecon International has emphasised that the entire interim dividend amount has been remitted only to non-promoter shareholders, consistent with the original declaration on November 5, 2025 and record date November 12, 2025. "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.

The company has also restated that the waiver by promoters does not alter ownership levels. It said the interim dividend has been disbursed to all non-promoter shareholders as per the approved terms, and that the relinquishment has no effect on the shareholding pattern. The move is presented as a measure to reinforce internal resources and support ongoing operational needs.

Elitecon International informed the stock exchanges that, "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," highlighting that this decision is entirely voluntary. The company linked this step to plans for future expansion, working capital support and long-term value creation for every stakeholder group.

According to Elitecon International, the decision by promoter category shareholders signals backing for the company’s strategic direction and value objectives. "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," the company stated in its dividend payment instruction letter.

Elitecon International operates as an FMCG and tobacco export business, supplying food and tobacco products to overseas buyers. The company serves markets across more than 50 countries in Asia, Europe and the Middle East. Manufacturing takes place at its facility in Nashik, Maharashtra. Elitecon International Limited, previously known as Kashiram Jain & Company Limited, has been active since 1987 and is listed on the BSE.

Share price performance has been volatile despite a strong rebound from the 52-week low. At a current market price of Rs 90.16, the stock trades well below its 52-week high of Rs 422.65, reached on August 25, 2025. However, it has risen 1,116.73% from the 52-week low of Rs 7.41 touched on 06/12/2024, indicating strong value creation for investors despite still being 78.67% under the peak.

Parameter	Details
Company	Elitecon International Limited
Interim dividend rate	5% on face value Rs. 1 per share
Financial year	2025-2026
Board approval date	November 5, 2025
Record date	November 12, 2025
Promoter dividend waiver	Approx. INR 47.5 million
52-week low	Rs 7.41 on 06/12/2024
52-week high	Rs 422.65 on August 25, 2025
Recent market price	Rs 90.16

Through the combination of promoter dividend waiver and confirmed dividend release to non-promoter shareholders, Elitecon International has sought to balance immediate investor payouts with internal capital retention. The company links this approach to future growth, while the share price data reflect both substantial recovery from past lows and a large gap from the 52-week high.