Stock primarily engaged in the business of providing human resource services to both public and private organizations, and many more jumped upto 4 percent in the day’s trade after the promoter increased stake in the firm.
With market capitalization of Rs. 302 cr, the shares of ITCONS E-Solutions Limited are currently trading at Rs. 512 per share and have gone up 4% in today’s market session.
ITCONS E-Solutions Limited has allotted 93,800 fully paid-up equity shares to the promoter group member Mr. Adit Mittal following the conversion of share warrants. This allotment was made at a price of ₹71 per share, with ₹53.25 being the final exercise amount per warrant, aggregating to ₹49.94 lakh. The transaction is part of a preferential issue approved earlier on July 29, 2024, reflecting the promoter’s confidence in the company’s growth trajectory.
Mr. Mittal’s shareholding has now risen to 6.27%, up from 4.75%, reinforcing the promoter group’s commitment and long-term vision. The shares allotted will rank pari passu with existing shares, granting equal rights in terms of voting and dividends.
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The company also received 2 new work orders from HCL Technologies Limited for providing technical support services and on-call support services recently. The Aggregate value of the above two work orders is Rs. 1,43,72,400 (Rupees One Crore Forty-Three Lakh Seventy-Two Thousand Four Hundred Only) inclusive of all duties and taxes.
ITCONS E-Solutions Limited is primarily engaged in the business of providing human resource services to both public and private organizations mostly in the organized sector in diverse roles and responsibilities since 2007.
Their services primarily include Manpower Supply/ Recruitment Services; and Manpower Sourcing/Staffing Services. Since Incorporation, the Company has been developing its service offering to support clients in their end-to-end HR needs.
The company posted sales of Rs. 55.98 crore in FY25, reflecting a 98% increase of sales growth from Rs. 28.50 crore recorded in March FY24. Over the past three years, its compound sales growth has risen by 45%, indicating consistent business expansion. Operating profit also saw an improvement, climbing to Rs.4.13 crore from Rs. 3.17 crore in the previous year. Net profits have also gone up to Rs. 3.25 cr from Rs. 1.91 crore.
Written by Manideep Appana
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