Elitecon International Limited (BSE: 539533 | NSE: ELITECON | ISIN: INE669R01026) (“EIL” or “the Company”) today entrusted its revival to the leadership who know its business best.

The Board has appointed Shri Vipin Sharma and Shri Pradeep Kumar as Executive Additional Directors, effective July 22, 2026 and subject to shareholder approval – a decisive step, taken as banking operations resume, that places the Company’s recovery in the hands of the leadership that built it.

The appointments were approved at the Board meeting held on July 22, 2026 and intimated to the stock exchanges the same day.

Shri Vipin Sharma’s return is a homecoming.

A promoter of the Company and a second-generation entrepreneur, he has devoted more than three decades to some of India’s most demanding and closely regulated industries.

Beginning his professional journey in the pharmaceutical sector in 1987, he assumed charge of his family enterprise, Stella Inc., in 1993, and went on to establish Mridul Perfumery in 2005 and Mridul Tobie Inc. in 2019. (2019).

As Managing Director of EIL until April 2026, he transformed the Company from a modest listed entity into a diversified, multi-category enterprise – building its manufacturing base in Nashik, extending its brand portfolio across sectors, and carrying the EIL name into international markets.

The Company that stands today bears his imprint at every level.

In April this year, he had stepped back from executive office with the stated intention of retiring from active corporate life; when the Company needed him, he set retirement aside and stepped in – to take charge of its operational revival and lead it from the front.

Shri Pradeep Kumar joins the Board from within the EIL family, serving as a Director of Golden Cryo Private Limited, a subsidiary of the Company.

He brings more than 23 years of leadership in large-scale construction and infrastructure, along with five years in tobacco-industry operations – experience that equips him to contribute to the Company’s revival from day one.

With banking operations resuming and its leadership renewed, the Company enters the second half of the financial year with its revival agenda firmly in motion.

Shri Vipin Sharma said:

“I had intended to step away from active corporate life; those plans can wait, because this Company comes first. EIL has been built over the years with immense effort and, above all, with the trust of its shareholders, employees and partners – and I have returned for one purpose: to lead its revival with vigour, purpose and discipline. We will further strengthen the Board and the management with experienced key managerial personnel and independent directors in the period ahead. To everyone who has stood by this Company, I extend my sincere gratitude – and my assurance that we will repay your confidence through our work.”

The Board also intends to further strengthen the Company’s leadership in the period ahead through the induction of experienced key managerial personnel and independent directors, with announcements to follow in accordance with applicable regulations.

The Company will continue to keep the stock exchanges informed of all material developments in accordance with its disclosure obligations.