Elcid Investments Limited was incorporated on December 3, 1981, under the Companies Act of 1956 in Mumbai, India. The company operates as a Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI). Its primary business involves making investments in shares, debentures, mutual funds, and other financial instruments.
Elcid Investments: Directors and Management
The board of directors includes:
- Mr. Varun Amar Vakil: Chairman
- Ms. Amrita Amar Vakil: Director
- Mr. Essaji Goolam Vahanvati: Director
- Mr. Kartikeya Kaji: Director
Additionally, Ms. Ragini Varun Vakil serves as the Chief Executive Officer (CEO) and Chief Financial Officer (CFO).
Registered Office
The company’s registered office is located at:
414 Shah & Nahar (Worli) Industrial Estate, B Wing, Dr. E Moses Road, Worli, Mumbai – 400 018, Maharashtra, India.
Clients and Business Operations
As an investment company, Elcid Investments does not have traditional clients. Its revenue is primarily generated through returns on its investment portfolio, which includes holdings in various companies. Notably, Elcid holds a significant stake in Asian Paints Limited, one of India’s leading paint manufacturers.
Financial Performance and Stock Surge
In recent years, Elcid Investments has garnered attention due to its remarkable stock performance. On October 29, 2024, the company’s share price soared from ₹3.53 to ₹2,36,250, marking increase of 66,92,535%. This surge followed a special call auction session conducted by the Bombay Stock Exchange (BSE) aimed at discovering the fair value of holding companies.
Profit Figures (2022-2024)
The company’s profit figures for the past three financial years are as follows:
- FY 2021-22: ₹100 crore
- FY 2022-23: ₹73 crore
- FY 2023-24: ₹176 crore
These figures indicate profitability in the most recent fiscal year.
Positive Factors
- High Book Value: Despite the surge, the stock’s price remains below its book value, which stands at ₹5,85,225 per share.
- Dividend Payouts: The company has a history of consistent dividend payments, with a dividend of ₹25 per share declared in FY24, translating to a dividend yield of over 708%.
Negative Factors
- Low Liquidity: The stock has low trading volumes, which can lead to senility and challenges in executing trades.
- Concentration Risk: A substantial portion of the company’s investments is concentrated in a single entity, Asian Paints, exposing it risks.
Elcid Investments Limited’s dramatic stock appreciation has positioned it as one of India’s most expensive stocks. While its financial metrics and investment holdings are impressive, potential investors should exercise caution due to factors like low liquidity and investment concentration. Comprehensive research and risk assessment are essential before making investment.
