1,186 per cent multibagger returns: Micro-cap company bags new order worth Rs 24,19,000 from HCL Technologies Ltd
The stock gave multibagger returns of 1,186 per cent from its 52-week low of Rs 39.65 per share.
ITCONS E-Solutions Limited is pleased to announce that it has secured a new work order from HCL Technologies Limited valued at Rs 24,19,000 (Rupees Twenty-Four Lakh and Nineteen Thousand Only). Under this contract, ITCONS will provide staff for Store Roll Out services for HCL's Airtel Project across 590 stores located throughout India. The services will be executed domestically over a period of one year.
Earlier, the company secured a contract from the National Institute of Biologicals, valued at Rs 17,42,72,248.51, to provide 129 resources on a contractual basis for three years. Additionally, the company had secured two new contracts from defence entities. The first contract, awarded by Advanced Weapons and Equipment India Limited, involved providing two skilled employees for a year, valued at Rs 7,77,824.31. The second contract, awarded by the Indian Navy, required the company to provide eight highly skilled data entry operators for a year, valued at Rs 33,55,012.05. These contracts demonstrated the company's expertise in providing skilled manpower services to the defence sector.
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Founded in 2007, ITCONS E-Solutions Ltd has carved a niche in India's human resource landscape. Headquartered in New Delhi, they serve both public and private organizations across diverse industries like IT, FMCG, and food. Their core strength lies in providing a comprehensive suite of HR solutions. This includes permanent and temporary staffing, recruitment process outsourcing, payroll services, and even managed IT services. ITCONS boasts a team of over 800, leveraging their expertise to offer specialised services in various segments, helping businesses find the right talent and streamline their HR processes.
According to the financials, ITCONS E-Solutions has a market cap of over Rs 330 crore. Additionally, the company has reduced its debt and is almost debt-free. The stock gave multibagger returns of 1,186 per cent from its 52-week low of Rs 39.65 per share. The shares of the company have a PE of 154x, an ROE of 15 per cent and an ROCE of 21 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.