Elcid Investment, an NBFC that recently came to fore after its stock price surged well over Rs 3 lakh per share, has informed exchanges through a company filing that it is seeking to register itself as a Type-I NBFC.
"This is to inform you that the company has today i.e. December 13, 2024, submitted an application with Reserve Bank of India for registering our Non-Banking Financial Company (NBFC) as a Type-I NBFC-ND," the lender said in a company filing on Friday.
Elcid has a market capitalisation of under Rs 4,000 crore, and the shares are higher by close to 5% on December 16, nudging near Rs 2 lakh per share mark after having seen a life high of Rs 3.32 lakh. In the last one month, shares of Elcid are down by close to 28%. The five-year CAGR of the share price is 658%.
Elcid is trading at 0.26x its book value of Rs 6.85 lakh per share, and the P/E ratio has cooled off to 15.5x from the November peak of over 30x. Read more.
The company has evoked a wider interest for being one of the most highly priced listed company, after a special price discovery exercise was carried out by the exchanges on October 28 for holding companies. The exercise had been mandated by capital market regulator for better price discovery of investment companies and investment holding companies.
Elcid's September quarter revenue was Rs 3.57 crore, sharply lower QoQ, while the net profit came in at Rs 2.80 crore. The company is one of the promoter entities in Asian Paints, and has a 2.95% stake in the index major. Track Elcid's September quarter earnings here. Elcid's source of earnings is the dividends that it holds in its investee companies.
Elcid Investments was recently pipped by PropShare Platina REIT, which overtook the holding firm to become the most expensive security available to trade, following its debut on the bourses on December 10.
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