Elitecon Wins USD 97m Supply Deal, Seeks Higher Borrowing Limit

31 Dec 2025 CW Team

The two-year contract has been awarded by Yuvi International Trade FZE and marks a significant expansion of Elitecon’s global footprint, particularly in Middle Eastern markets. The agreement covers the supply of cigarettes, premix sheesha, hookah tobacco, smoking mixtures and other tobacco-allied products. The company said sustained demand for regulated tobacco products in the region makes the order strategically important, strengthening revenue visibility and export momentum. Management attributed the win to strong product acceptance, advanced manufacturing capabilities and well-established export relationships.

Elitecon said the long-term nature of the contract is expected to deliver operational and financial benefits, including clearer revenue visibility, improved production planning, higher capacity utilisation and more efficient working capital cycles. The stability offered by the agreement is likely to support consistent export earnings and reduce exposure to market volatility during the contract period.

Separately, the Board of Directors has approved a proposal to increase the company’s borrowing limits to up to Rs 5 billion, subject to shareholder consent. The move is aimed at enhancing financial flexibility to pursue growth initiatives and strategic investments. The proposal also seeks approval to make investments in, and extend loans, guarantees or other securities beyond existing limits to support affiliated businesses and new opportunities.

To seek shareholder approval, Elitecon will convene a postal ballot or an extraordinary general meeting. The company has appointed a scrutiniser and set the cut-off date for e-voting as December 22, 2025, with remote e-voting scheduled from December 29, 2025, to January 27, 2026. Elitecon said the process will ensure transparent and accessible shareholder participation as it continues to focus on capacity expansion, product diversification and long-term international partnerships.

Elitecon International Limited, a manufacturer and exporter of tobacco and tobacco-allied products, has approved a long-term international supply contract valued at USD 97.35 million, alongside a proposal to raise its borrowing limits to support growth, subject to shareholder approval. The two-year contract has been awarded by Yuvi International Trade FZE and marks a significant expansion of Elitecon’s global footprint, particularly in Middle Eastern markets. The agreement covers the supply of cigarettes, premix sheesha, hookah tobacco, smoking mixtures and other tobacco-allied products. The company said sustained demand for regulated tobacco products in the region makes the order strategically important, strengthening revenue visibility and export momentum. Management attributed the win to strong product acceptance, advanced manufacturing capabilities and well-established export relationships. Elitecon said the long-term nature of the contract is expected to deliver operational and financial benefits, including clearer revenue visibility, improved production planning, higher capacity utilisation and more efficient working capital cycles. The stability offered by the agreement is likely to support consistent export earnings and reduce exposure to market volatility during the contract period. Separately, the Board of Directors has approved a proposal to increase the company’s borrowing limits to up to Rs 5 billion, subject to shareholder consent. The move is aimed at enhancing financial flexibility to pursue growth initiatives and strategic investments. The proposal also seeks approval to make investments in, and extend loans, guarantees or other securities beyond existing limits to support affiliated businesses and new opportunities. To seek shareholder approval, Elitecon will convene a postal ballot or an extraordinary general meeting. The company has appointed a scrutiniser and set the cut-off date for e-voting as December 22, 2025, with remote e-voting scheduled from December 29, 2025, to January 27, 2026. Elitecon said the process will ensure transparent and accessible shareholder participation as it continues to focus on capacity expansion, product diversification and long-term international partnerships.

Infrastructure Energy

11 Mar 2026

Gautam Solar Ranks Among India’s Top 4 Solar Module Manufacturers

Gautam Solar has secured the fourth position among India’s solar module manufacturers, according to the latest Q4 2025 report released by JMK Research & Analytics. The ranking reflects the company’s growing presence in India’s rapidly expanding solar manufacturing sector.The report notes that total module shipments reached 14 GW during the quarter, with the top five manufacturers accounting for more than 52 per cent of the overall capacity. Gautam Solar’s entry into the top four highlights its increasing contribution to the domestic solar ecosystem, aligning with the government’s..

Infrastructure Urban

11 Mar 2026

Samarth E-Mobility Unveils Indigenous Full-Stack EV Technology Platform

Samarth E-Mobility has announced the development of a 100 per cent indigenous full-stack electric vehicle technology platform, marking a major milestone in India’s electric mobility landscape. Built entirely in India under the Make in India vision, the platform integrates critical EV components designed and manufactured in-house.The technology stack includes the battery pack, battery management system (BMS), motor, motor controller, power control module (PCM), DC-DC converter, AI-controlled onboard fast charger with around 1500W charging capacity, instrument cluster and a proprietary operati..

Infrastructure Energy

11 Mar 2026

Shakti Pumps Expands Solar Footprint in Uttar Pradesh with Dealer Meet

Shakti Pumps (India) organised a large dealer meet in Kanpur, Uttar Pradesh, on 10 March 2026 as part of its solar awareness initiative aimed at expanding solar irrigation and energy-efficient solutions in the state. The event was attended by more than 200 dealers and business partners, highlighting the company’s efforts to strengthen its distribution network and promote renewable energy adoption in agriculture.During the event, P C Jain & Sons LLP was appointed as an authorised channel partner for the region. A formal Bhoomi Pujan ceremony for the new showroom was also conducted. Accord..