Manpower Service Provider Bags New Order Worth Rs 3,36,94,472.20 From Ministry of Heavy Industries and Public Enterprises

The stock gave multibagger returns of 1,525 per cent from its 52-week low of Rs 40 per share.

ITCONS E-Solutions Limited announced that the Company has been awarded a contract by the National Automotive Board, Department of Heavy Industry, Ministry of Heavy Industries and Public Enterprises, to provide manpower services on a contractual basis for two years, commencing on January 1, 2025 and concluding on December 31, 2026. This contract with a domestic entity has a total value of Rs 3,36,94,472.20, inclusive of all duties and taxes.

Earlier, the company secured a work order from Central Warehousing Corporation (CWC) Kochi, Kerala, Department of Food and Public Distribution, Ministry of Consumer Affairs Food and Public Distribution. This domestic entity awarded the contract to provide manpower services on a contractual basis for 2 years. The aggregate value of the work order is Rs 3,61,61,667.91, inclusive of all taxes.

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 Rs 327 crore. The stock gave multibagger returns of 1,525 per cent from its 52-week low of Rs 40 per share. The company's shares have a PE of 135x, 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.