Company Overview

ITCONS e-Solutions Limited (Scrip Code: 543806, BSE Symbol: ITCONS) is a staffing and recruitment services company with over 19 years of experience, headquartered in Noida, Uttar Pradesh. The company provides comprehensive human capital solutions across general staffing, IT staffing, permanent recruitment, RPO services, rebadging, and workforce management.

Financial Performance Highlights

Revenue and Profitability

  • Revenue from Operations: ₹87.74 crore (FY25: ₹55.98 crore), growth of 56.73%
  • Total Income: ₹89.76 crore (FY25: ₹57.10 crore), growth of 57.20%
  • Profit Before Tax: ₹6.24 crore (FY25: ₹4.46 crore), growth of 40.08%
  • Profit After Tax: ₹5.26 crore (FY25: ₹3.25 crore), growth of 61.76%
  • Basic EPS: ₹8.05 (FY25: ₹6.43)
  • EBITDA: ₹7.29 crore (FY25: ₹5.24 crore), growth of 39%

Dividend Declaration

  • Final dividend recommended: ₹0.15 per equity share (1.5%)
  • Record date: September 21, 2026
  • Payment subject to shareholder approval at AGM

Key Financial Ratios

  • Debtors Turnover Ratio: 3.93 (FY25: 3.51)
  • Current Ratio: 2.45 (FY25: 3.18)
  • Debt-Equity Ratio: 0.06 (FY25: 0.14)
  • Operating Profit Margin: 7.84% (FY25: 8.53%)
  • Net Profit Margin: 6.01% (FY25: 5.81%)

Operational Highlights

Business Verticals Performance

ITCONS reorganized into four key verticals:

1. Government Vertical: Largest contributor to growth, averaging two contract wins per month, order book with revenue visibility up to two years

2. General Staffing Vertical: Restructured into temporary and permanent staffing, serving blue-collar, skilled, and semi-skilled workforce

3. IT Staffing Vertical: Steady growth with clients including HCL, Wipro, TVS, and Power Grid Corporation

4. Technology Vertical: New vertical managing IT field support and data center operations for Bharti Airtel

Geographic Expansion

New offices established in:

  • Lucknow, Uttar Pradesh
  • Pune, Maharashtra
  • Hyderabad, Telangana
  • Bhubaneswar, Odisha

Technology and Automation

  • Implemented AI-powered automation for employee verification and end-to-end attendance-to-invoicing processes
  • Reduced manual effort and improved turnaround times
  • Deployed field recruiters alongside desk recruiters in hybrid hiring model

Human Resources

  • Employee strength grew to 5,000+ deployed staff
  • Active customer base expanded by 30%
  • Serves 15+ industry verticals

Capital Structure Changes

Share Capital

  • Preferential issue of 1,00,40,000 convertible warrants at ₹71 per warrant in July 2024
  • During FY26, 34,09,600 warrants converted to equity shares upon payment of balance ₹53.25 per warrant
  • 60,60,400 warrants lapsed and upfront subscription of ₹10.76 crore forfeited
  • Issued, Subscribed and Paid-up Capital: ₹9.00 crore (90,08,326 equity shares of ₹10 each)
  • Authorized Capital: ₹20.00 crore (2,00,00,000 equity shares of ₹10 each)

Loans and Advances

  • Loan given to Mahhaguru Navgrah Private Limited: ₹14.03 crore
  • Interest income from related party: ₹1.85 crore
  • Loan repaid by related party: ₹1.81 crore

Corporate Governance

Board of Directors

  • Mr. Gaurav Mittal (Managing Director & CEO)
  • Mr. Chetan Prakash Mittal (Executive Director & CFO)
  • Mrs. Premlata Mittal (Executive Director)
  • Mr. Adit Mittal (Executive Director)
  • Mr. Komaligam Narayanan Jayaraman (Independent Director)
  • Mr. Mridul Rastogi (Independent Director)
  • Mrs. Ira Agarwal (Independent Director)
  • Mrs. Nikky Gupta (Independent Director)
  • Mr. Ajay Rana (Additional Independent Director appointed August 18, 2026)

Board Meetings

  • 17 meetings held during FY25-26
  • All directors attended majority of meetings

Key Committees

  • Audit Committee: Mr. Mridul Rastogi (Chairman), Mr. Komaligam Narayanan Jayaraman, Mrs. Ira Agarwal
  • Nomination and Remuneration Committee: Mr. Mridul Rastogi (Chairman), Mr. Komaligam Narayanan Jayaraman, Mrs. Ira Agarwal
  • Stakeholders Relationship Committee: Mr. Komaligam Narayanan Jayaraman (Chairman), Mr. Mridul Rastogi, Mrs. Prem Lata Mittal

Key Managerial Personnel

  • Mr. Chetan Prakash Mittal (CFO)
  • Ms. Pooja Gupta (Company Secretary & Compliance Officer)

Annual General Meeting Details

  • 19th AGM Date: Monday, September 28, 2026 at 4:30 PM IST
  • Mode: Video Conference/Other Audio Visual Means
  • Record Date for Dividend: September 21, 2026
  • Cut-off Date for E-voting: September 21, 2026
  • Remote E-voting Period: September 25, 2026 (9:00 AM) to September 27, 2026 (5:00 PM)

Agenda Items

Ordinary Business:

1. Adoption of audited financial statements

2. Declaration of final dividend

3. Re-appointment of Mr. Chetan Prakash Mittal as director

Special Business:

4. Appointment of Mr. Ajay Rana as Independent Director

Related Party Transactions

All related party transactions were conducted at arm's length and in the ordinary course of business, including:

  • Remuneration to directors
  • Loans to/from related parties
  • Interest income from related parties

Future Outlook

The company aims to:

  • Onboard over 10,000 contract staff by 2027
  • Rank among top three staffing organizations in India by 2030
  • Continue geographic and service expansion
  • Evaluate inorganic growth opportunities in manpower outsourcing