During Wednesday’s trading session, the shares of a company engaged in the business of recruitment and staffing services are in focus, after securing an order worth nearly Rs. 4.03 crores from the Ministry of Consumer Affairs Food and Public Distribution.
With a market cap of Rs. 322.8 crores, the shares of ITCONS E-Solutions Limited surged around 1 percent to hit an intraday high at Rs. 659.5 on BSE, as compared to its previous closing price of Rs. 653.9.
What’s the news
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.
According to the latest regulatory filings with the BSE, the contract entails 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.
Previous Order
30th December 2024: ITCONS E-Solutions was awarded a Rs. 3.61 crores contract by the Central Warehousing Corporation (CWC) in Kochi, Kerala, under the Department of Food and Public Distribution, Ministry of Consumer Affairs Food and Public Distribution. This contract involves delivering manpower services on a contractual basis for a period of two years.
30th December 2024: The company secured another order worth Rs. 3.36 crores from the National Automotive Board, Department of Heavy Industry, Ministry of Heavy Industries and Public Enterprises. This contract similarly involves providing manpower services on a contractual basis for two years.
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 from Rs. 0.77 crores to Rs. 1.3 crores, representing a growth of around 68.8 percent YoY.
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Key Financial Ratios
In terms of key financial metrics, ITCONS E-Solutions has a Return on 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 1,334.6 percent in one year, as well as around 252.3 percent of negative returns in the last six months. However, the shares of ITCONS E-Solutions have given negative returns of about 5 percent in the last one month.
About the company
ITCONS E-Solutions Limited is mainly engaged in the business of recruitment and staffing services. 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/clerical, marketing/creative, and related industries.
Additionally, it also serves State Governments, Central Government, and PSUs. ITCONS E-Solutions provides flexible staffing solutions such as long-term or short-term staff augmentation, managed task contracts, and contingent employment/staffing services.
The company’s equity shares were listed on BSE Limited under the Small and Medium Enterprise (SME) segment on March 13, 2023.
Written by Shivani Singh
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