Shares of Diversified FMCG Elitecon International Ltd are in focus after the company announced a major strategic shift to become a consumer-facing, multi-category FMCG powerhouse. The company, in an exchange filing, stated that it has set an ambitious revenue target of approximately Rs 20,000 crore by FY30, backed by a planned investment of Rs 700 crore to scale its domestic and global operations. To achieve this, it plans to build a network of over 5,000 distributors and over 500,000 retail outlets in India, and expand its presence in over 15 international markets.
Share price today
The stock started the trading session in the green at 38.75, up from the previous close of Rs 38.02 on the BSE. It later advanced to touch the high of Rs 39. However, it witnessed profit booking at higher levels and fell to touch the low of Rs 37. It ended the trading session in the red at Rs 37.50, with a fall of Rs 0.52 or 1.37 per cent. The market cap of the company stood at Rs 5,994.38 crore.
Company shares an expansion plan
According to the information shared, the company will focus on high-frequency categories, including edible oils, packaged foods, snacks, and household staples, in the next two years.
The company said its existing infrastructure supports this rapid growth, including its 800 MTPD edible oil refinery in Gandhidham and a 235 MT/day facility in Uttar Pradesh. The company also plans to utilize its established trade presence in the UAE, Singapore, and Hong Kong to facilitate market entry.
According to BSE Analytics, the stock has delivered a strong return of 3,471.43 per cent in five years and 11.67 per cent in one year. On a year-to-date (YTD) basis, it has corrected 63.39 per cent as against the dip of 9.03 per cent in the benchmark index.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
