834 Per cent Multibagger Returns in 12 Months: Manpower service provider has won new order worth Rs 72,02,586.63 with the Armed Forces Tribunal

As of May 30, 2025, the stock trades at Rs 514.5, having surged 830.96 per cent over the past year.

ITCONS E-Solutions Limited has announced a key milestone by securing a contract worth Rs 72,02,586.63 with the Armed Forces Tribunal, under the Department of Defence, Ministry of Defence. The contract, effective from May 30, 2025, spans one year and involves the deployment of 24 unskilled and semi-skilled personnel. This development marks a strategic push by the company into the defence sector, reinforcing its position in manpower deployment and workforce management services.

Established in 2007, ITCONS E-Solutions is a Small-Cap company specialising in recruitment and staffing services, including IT consulting, general staffing, and permanent placements. In FY24, 88 per cent of its revenue came from staffing services. The company’s growing list of high-profile clients includes Wipro Technologies, Nokia, and ICICI Bank. ITCONS has also secured contracts with government entities such as the National Institute of Biologicals and Proteam Advisory Solutions LLP, where it is engaged in technical services and manpower supply.

The company is actively diversifying into emerging sectors like green energy and solar power, reflecting its long-term strategy to widen its portfolio. Efforts are also underway in areas such as electric vehicle servicing, with a clear emphasis on aligning with India’s evolving infrastructure and energy goals. These moves are aimed at capitalising on future growth opportunities while strengthening ties across various client industries, including telecom, financial services, and now, defence.

On the stock market front, ITCONS E-Solutions Limited is attracting investor attention due to its multibagger performance. As of May 30, 2025, the stock trades at Rs 514.5, having surged 830.96 per cent over the past year. The 52-week high stands at Rs 737, while the 52-week low is Rs 51. With a Price-Earnings (PE) ratio of 152.54 and a market capitalisation of Rs 295 crore, the company reflects strong valuation metrics amid its ongoing expansion.

Major public shareholders include Saurabh Gangal (7.82 per cent), Ravindra N Sukla (2.33 per cent), Vandana Sandeep Mehta (2.14 per cent), and Dilip Kershrimal Sanklecha (1.71 per cent), indicating robust interest from prominent investors.

ITCONS’s latest defense contract win strengthens its strategic push into government-linked projects and signals continued growth in its core and emerging segments.

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