Elitecon International plans to raise stakes in Landsmill Agro, Sunbridge Agro to 100%

Homegrown FMCG and tobacco export company Elitecon International has outlined its plans to acquire 100 per cent equity stakes in Landsmill Agro Private Limited and Sunbridge Agro Private Limited over the next 12 months. Elitecon purchased controlling stakes in both companies for a cumulative Rs 181.3 crore recently.

Landsmill Agro

Elitecon International acquired a 55 per cent equity stake in Landsmill Agro for a cash consideration of Rs 52.85 crore, buying 51.48 lakh equity shares for Rs 102.67 per fully paid up equity share of the face value of Rs 10 each.

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Sunbridge Agro

Separately, it acquired a 51.65 per cent equity stake (98.77 lakh shares) in Sunbridge Agro for Rs 128.40 crore.

Objective

Elitecon International said that the primary objective of these acquisitions is to expand and strengthen its FMCG business vertical -- an area where it is already engaged actively through its existing dealings in agricultural products and allied activities.

By consolidating its presence through these acquisitions, Elitecon International said, it seeks to enhance operational scale, increase product depth, and diversify revenue streams, according to a regulatory filing dated October 1.

Elitecon International Q2 FY26 results: A summary

The FMCG exporter reported a more than two-fold jump in its net profit to Rs 20.2 crore for the quarter ended September 30. Its top line grew 6.4 times to Rs 504.9 crore over the year-ago period, according to a regulatory filing.

According to the company, its revenue and profitability registered record growth during the quarter under review.

Its quarterly EBITDA, said the company, grew 9.7 per cent sequentially to Rs 22.97 crore, reflecting its sustained operational efficiency and margin expansion.