During Monday’s trading session, the shares of a company engaged in the business of recruitment and staffing services surged nearly 2 percent to Rs. 583.9 on BSE, after securing an order from Diesel Loco Modernization Works (DMW) Patiala, Indian Railways, Ministry of Railways.
With a market cap of Rs. 292.2 crores, at 11:28 a.m., the shares of ITCONS E-Solutions Limited were trading in the green at Rs. 581, up by 2.2 percent, as compared to its previous closing price of Rs. 568.5.
What’s the news:
ITCONS E-Solutions secured an order worth nearly Rs. 37.2 lakhs from Diesel Loco Modernization Works (DMW), Patiala Punjab, Indian Railways, Ministry of Railways.
According to the latest regulatory filings with the BSE, the contra entails providing 8 manpower services on a contractual basis for a duration of two years. The service period is scheduled to commence on 15th February 2025 and conclude on 14th February 2027.
Previous Order:
8th January 2025: ITCONS E-Solutions secured an order worth Rs. 4.03 crores from Central Warehousing Corporation (CWC) in Chandigarh, under the Department of Food and Public Distribution, Ministry of Consumer Affairs Food and Public Distribution.
The contract involves providing manpower services on a contractual basis for a duration of two years. The service period is scheduled to commence on January 13, 2025, and conclude on January 12, 2027.
27th January 2025: The company secures a work order worth Rs. 5.41 crores from the Ministry of Education, Department of Higher Education to provide 201 manpower services on a contractual basis for 1 year. The service period is scheduled to start on 1st February 2025 and conclude on 31st January 2026.
Financials:
ITCONS E-Solutions reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 37.2 percent, rising from Rs. 12.78 crores in H1 FY24 to Rs. 17.54 crores in H1 FY25.
Similarly, during the same period, the company’s net profit increased fr Rs. 0.77 crores to Rs. 1.3 crores, representing a growth of around 68.8 percent YoY.
Key Financial Ratios:
In terms of key financial metrics, ITCONS E-Solutions has a Return Equity (RoE) of 14.6 percent and a return on capital employed (RoCE) of 20.9 percent. Additionally, the company’s debt-to-equity ratio stands at 0.12.
Stock Performance:
The stock has delivered multibagger returns of nearly 1,167 percent in one year, as well as around 219 percent returns in the last six months. However, the shares of ITCONS E-Solutions have given negative returns of about 12 percent in the last one month.
The company’s equity shares were listed on BSE Limited under the Small and Medium Enterprise (SME) segment on 13th March 2023.
About the company:
ITCONS E-Solutions Limited is mainly engaged in the business of recruitment and staffing service
The company is a global, professional staffing and recruitment company specializing in strategic services for sectors including IT, healthcare, manufacturing, oil & gas, engineering, logistics/transportation, light industrial, media, finance/accounting, administrative services/clerica marketing/creative, and related industries. Additionally, it serves state & central government and PSUs.
ITCONS E-Solutions provides flexible staffing solutions such as long- or short-term staff augmentation, managed task contracts, and contingent employment/staffing service
Written by Shivani Singh
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