Ex-Parte Interim Order in the matter of Elitecon International Limited
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What is this order about?
This order addresses allegations of financial irregularities and price/volume manipulation in the securities of Elitecon International Limited, as examined by SEBI.
Who it concerns
Vipin Sharma, Elitecon International Limited, Pawan Kumar Ray, Gaurav Tyagi, Prabhakar Kumar, Sujit Chaturvedi
What was found or directed
- SEBI found financial statement irregularities and price/volume manipulation in Elitecon's scrip
- Company's revenue increased 5.23 times from FY2023-24 to FY2024-25
- Net profit surged 6.73 times during same period
- Revenue increased 27 times in Sept-25 quarter compared to Sept-24 quarter
- Net profit surged 13 times in Sept-25 quarter compared to Sept-24 quarter
- Promoter shareholding reduced from 99% locked-in to 17.19% locked-in
- Number of public shareholders increased 1.40 times from 45,044 to 62,899 in Dec-2025 quarter
Points worth noting
- Company's revenue grew from ₹56.82 crore to ₹297.51 crore in FY2024-25
- Net profit grew from ₹4.78 crore to ₹32.21 crore in FY2024-25
- Revenue increased from ₹79.13 crore to ₹504.90 crore in Sept-25 quarter
- Net profit increased from ₹8.84 crore to ₹20.2 crore in Sept-25 quarter
- Revenue increased from ₹79.13 crore to ₹2,192.09 crore in Sept-25 quarter (consolidated)
- Net profit increased from ₹8.84 crore to ₹117.20 crore in Sept-25 quarter (consolidated)
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KV/ISD/ISD-SEC-6/32325/2025-26 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
Highlights & Points worth asking
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Documents
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Order
2026-03-30
ORDER_1774888220.pdf
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