This low-price micro-cap bags order worth Rs 10,81,240 from Ministry of Defence; The stock price soared 12 per cent in a day!

This is a low-price micro-cap HR & Staffing company with market capitalisation of Rs 23 crore currently trading at Rs 45.8 with return on equity of 24 per cent

Today, the shares of ITCONS E-Solutions Ltd zoomed by 12.61 per cent to Rs 45.8 due to following order award.

ITCONS E-Solutions Ltd has successfully secured a work order from the Ministry of Defence, Department of Military Affairs, Indian Army Meerut. The work order, valued at Rs. 10,81,239.58/- is for the provision of staffing services over the course of one year.

Key Details of the Work Order:

Entity Awarding Order: Ministry of Defence, Department of Military Affairs, Indian Army Meerut

Significant Terms and Conditions: Providing staffing services for one year

Domestic/International Entity: Domestic

Nature of Order: Work order for providing staffing services

Time Period for Execution:  01-Jan-2024 to 31-Dec-2024

Size of Order: Rs. 10,81,239.58/-

This strategic collaboration further reinforces ITCONS E-Solutions Ltd's commitment to providing high-quality services to esteemed clients in the defense sector. The company is poised to leverage its expertise in delivering comprehensive staffing solutions to meet the unique requirements of the Indian Army.

Business
Since its incorporation, ITCONS E-Solutions has grown to over 800 staff team including contractual employees. They offer their expert services in different segments like Staffing & Recruitment, Information Technology, FMCG, Food, etc.

Revenue Bifurcation
Manpower Supply/Recruitment Services – 97 per cent of FY22 revenue vs 98 per cent in FY21
Manpower Sourcing/Staffing Service – 3 per cent in FY22 vs 2 per cent in FY21

This is a low-price micro-cap HR & Staffing company with a market capitalization of Rs 23 crore, currently trading at Rs 45.8 with a return on equity of 24 per cent

Disclaimer: The article is for informational purposes only and not investment advice.