Shares of the microcap company jumped around 1 percent in Tuesday’s trading session after receiving an order from HCL Technologies. The shares have delivered around 13 percent to its shareholders in one year.
With a market capitalization of Rs. 25.8 crores, the shares of ITCONS E-Solutions Ltd started Tuesday’s trading session on a higher note at Rs. 51.20, gaining around 1 percent compared to its previous close of Rs. 50.83 apiece.
According to the exchange filing, the company signed an MSA (Master Service Agreement) as a solo vendor with HCL Technologies to provide on-call support services to more than 1700 locations of HCL client, Airtel worth Rs. 9.16 lakhs.
Coming onto the company’s financial statement, the revenue increased marginally by 0.2 percent from Rs. 12.75 crores during H2FY23 to Rs. 12.78 crores in H1FY24. On the other hand, the net profits zoomed by 15 percent from Rs. 67 lakhs to Rs. 77 lakhs during the same timeframe.
Earlier, the company had entered into a service agreement with Wipro Limited for providing Oncall Support Services for PAN India to provide On-call services, OTB Support, Store Rollout Activities and Oncall Support Services on SLA AMC Delivery Model.
The company has well-known and reputed clients from the Information Technology, Staffing and Recruitment, Food, and FMCG space, including MNCs as clients. Presently the Manpower Supply Services account for a majority of their revenues, and Manpower Souring Services contribute to the rest of its revenues.
Looking at the company’s important financial ratios, the return on equity (RoE) for FY22-23 reached 24.04 percent, reflecting the profitability of shareholder investments. Concurrently, the return on capital employed (RoCE) stood at 31.70 percent during the same period, indicating efficient capital utilisation. Additionally, the net profit margin, representing profitability, was recorded at 6.13 percent in FY22-23.
According to the latest shareholding pattern, the Promoters retain a majority stake of 59.36 percent in the company, indicating significant ownership and control. On the other hand, retail investors collectively hold 40.63 percent of the shares.
Headquartered in Noida, ITCONS E-Solutions was incorporated in 2007. The company is a Pan India professional staffing and recruitment company that specializes in strategic services for various industries, including Information Technology, Healthcare, Manufacturing, Oil and Gas, Engineering, Logistics or Transportation, as well as state and central government entities and Public Sector Undertakings (PSUs).
Written By Vaibhav Patil
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