1,200 Per cent Multibagger Returns in 6 Months: Microcap Company Signs Master Service Agreement with Flipkart for Pan-India Placement Services
The company’s shares have delivered a multibagger returns over 1,400 per cent to its shareholders in just 1 year.
This micro-cap company is a New Delhi-based company engaged in human resource services for both public and private organizations.
As per the press release, the company has signed a Master Service Agreement (MSA) with Wal-Mart India Private Limited (Flipkart) to deliver One-Time Placement Services across India. Under this agreement, the scope of work and the number of resources provided will be determined based on the client’s requirements as they arise.
As per the press release, the company has secured a new contract from the Food Corporation of India (FCI), under the Department of Food and Public Distribution, Ministry of Consumer Affairs, Food, and Public Distribution. The contract entails providing 44 employees on a contractual basis for two years. The total contract value is Rs 2,47,93,000 (Rupees Two Crore Forty-Seven Lakh Ninety-Three Thousand Only), inclusive of all applicable taxes.
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Currently, the shares of ITCONS E-Solutions Ltd are trading at around Rs 681.90 per share. The company’s current market capitalization stands at Rs 342.91 crore. Additionally, the shares have delivered a multibagger return of over 1,200 per cent in just 6 months.
The company doesn’t provide Quarterly Results and as per half-yearly results in Sep FY24, ITCONS E-Solutions Ltd recorded a revenue of Rs 17.54 crore. The operating profit for the period stood at Rs 1.75 crore. The net profit stood at Rs 1.29 crore compared to a profit of Rs 0.77 crore last year same period. Looking at the annual performance, the company generated a revenue of Rs 28.50 crore in FY24. The operating profit for FY24 was Rs 3.16 crore with a net profit of Rs 1.91 crore compared to a net profit of Rs 1.73 crore in FY23.
According to the shareholding pattern of ITCONS E-Solutions Ltd, promoters own a 59.36 per cent stake, while public investors hold 40.57 per cent. DIIs bought around 0.08 per cent stake in the company.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.