Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹305, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 22x in the Professional Services industry in India. Total returns to shareholders of 546% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹304, the stock trades at a trailing P/E ratio of 57.8x. Average trailing P/E is 22x in the Professional Services industry in India. Total returns to shareholders of 549% over the past three years. New Risk • Jan 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (65% accrual ratio). Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (₹2.28b market cap, or US$25.2m). Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to ₹316, the stock trades at a trailing P/E ratio of 48x. Average trailing P/E is 26x in the Professional Services industry in India. Total loss to shareholders of 49% over the past year. New Risk • Jan 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 43% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (65% accrual ratio). Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₹2.92b market cap, or US$32.4m). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹422, the stock trades at a trailing P/E ratio of 53.7x. Average trailing P/E is 27x in the Professional Services industry in India. Total loss to shareholders of 38% over the past year. Annuncio • Oct 31
Itcons E-Solutions Limited to Report First Half, 2026 Results on Nov 14, 2025 Itcons E-Solutions Limited announced that they will report first half, 2026 results on Nov 14, 2025 Annuncio • Sep 26
Itcons E-Solutions Limited Announces Board Appointments eItcons E-Solutions Limited at Annual General Meeting on September 24, 2025 approved to appoint Mr. Adit Mittal as Non-Executive and Non-Independent Director and Mrs. Nikky Gupta as Independent Director of the Company. Board Change • Sep 04
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Non-Executive & Independent Director Nikky Gupta was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 01
Full year 2025 earnings released: EPS: ₹6.44 (vs ₹3.79 in FY 2024) Full year 2025 results: EPS: ₹6.44 (up from ₹3.79 in FY 2024). Revenue: ₹559.8m (up 96% from FY 2024). Net income: ₹32.5m (up 71% from FY 2024). Profit margin: 5.8% (down from 6.7% in FY 2024). The decrease in margin was driven by higher expenses. Annuncio • Aug 08
Itcons E-Solutions Limited, Annual General Meeting, Sep 24, 2025 Itcons E-Solutions Limited, Annual General Meeting, Sep 24, 2025. Reported Earnings • May 31
Full year 2025 earnings released: EPS: ₹6.43 (vs ₹3.79 in FY 2024) Full year 2025 results: EPS: ₹6.43 (up from ₹3.79 in FY 2024). Revenue: ₹571.0m (up 100% from FY 2024). Net income: ₹32.5m (up 71% from FY 2024). Profit margin: 5.7% (down from 6.7% in FY 2024). The decrease in margin was driven by higher expenses. Annuncio • May 20
Itcons E-Solutions Limited to Report Q4, 2025 Results on May 30, 2025 Itcons E-Solutions Limited announced that they will report Q4, 2025 results on May 30, 2025 New Risk • May 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (106% accrual ratio). Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Revenue is less than US$5m (₹333m revenue, or US$3.9m). Market cap is less than US$100m (₹3.08b market cap, or US$36.1m). Recent Insider Transactions Derivative • Apr 01
Founder exercised options to buy ₹48m worth of stock. On the 26th of March, Gaurav Mittal exercised options to buy 94k shares at a strike price of around ₹53.25, costing a total of ₹5.0m. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. Since June 2024, Gaurav has owned 2.98m shares directly. This was the only transaction from an insider over the last 12 months. Annuncio • Nov 05
Itcons E-Solutions Limited to Report Q2, 2025 Results on Nov 14, 2024 Itcons E-Solutions Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Board Change • Sep 04
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Mridul Rastogi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Sep 03
Itcons E-Solutions Limited, Annual General Meeting, Sep 27, 2024 Itcons E-Solutions Limited, Annual General Meeting, Sep 27, 2024, at 15:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹256, the stock trades at a trailing P/E ratio of 67.6x. Average trailing P/E is 36x in the Professional Services industry in India. Total returns to shareholders of 528% over the past year. Annuncio • Jul 30
Itcons E-Solutions Limited announced that it has received INR 178.21 million in funding On July 29, 2024, Itcons E-Solutions Limited closed the transaction. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹179, the stock trades at a trailing P/E ratio of 47.1x. Average trailing P/E is 33x in the Professional Services industry in India. Total returns to shareholders of 283% over the past year. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹63.76, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 27x in the Professional Services industry in India. Total returns to shareholders of 63% over the past year. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹3.79 (vs ₹5.23 in FY 2023) Full year 2024 results: EPS: ₹3.79. Revenue: ₹287.3m (up 1.9% from FY 2023). Net income: ₹19.1m (up 10% from FY 2023). Profit margin: 6.6% (up from 6.1% in FY 2023). The increase in margin was driven by higher revenue. New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (27% accrual ratio). Market cap is less than US$10m (₹265.1m market cap, or US$3.18m). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Revenue is less than US$5m (₹255m revenue, or US$3.1m). Annuncio • May 22
Itcons E-Solutions Limited to Report Q4, 2024 Results on May 30, 2024 Itcons E-Solutions Limited announced that they will report Q4, 2024 results on May 30, 2024 Valuation Update With 7 Day Price Move • May 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹61.80, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 27x in the Professional Services industry in India. Total returns to shareholders of 28% over the past year. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹57.85, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 27x in the Professional Services industry in India. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹54.20, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 25x in the Professional Services industry in India. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹49.92, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 25x in the Professional Services industry in India. Reported Earnings • Nov 20
First half 2024 earnings released: EPS: ₹1.53 (vs ₹1.94 in 1H 2023) First half 2024 results: EPS: ₹1.53. Revenue: ₹127.8m (up 5.2% from 1H 2023). Net income: ₹7.68m (up 15% from 1H 2023). Profit margin: 6.0% (up from 5.5% in 1H 2023). The increase in margin was driven by higher revenue. New Risk • Nov 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (59% accrual ratio). Market cap is less than US$10m (₹214.4m market cap, or US$2.58m). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Revenue is less than US$5m (₹282m revenue, or US$3.4m). Annuncio • Nov 04
Itcons E-Solutions Limited to Report First Half, 2024 Results on Nov 14, 2023 Itcons E-Solutions Limited announced that they will report first half, 2024 results on Nov 14, 2023 Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹52.55, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 27x in the Professional Services industry in India. Annuncio • Sep 06
ITCONS E-Solutions Limited, Annual General Meeting, Sep 27, 2023 ITCONS E-Solutions Limited, Annual General Meeting, Sep 27, 2023, at 15:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements including the Balance Sheet as at March 31, 2023, the statement of Profit and Loss and Cash Flow Statement for the Financial Year ended on that date, along with reports of the Board of Directors and Auditors thereon; to appoint a Director in place of Mrs. Premlata Mittal (DIN: 01205175), who retires by rotation and being eligible, offers herself for re-appointment; and to consider other matters. Annuncio • Sep 02
ITCONS E-Solutions Limited Announces Resignation of Ayush Jindal as Non-Executive Director ITCONS E-Solutions Limited informed that Company has received the Resignation from the post of Non-Executive Director of Mr. Ayush Jindal (DIN: 09752380) with effect from 31st August, 2023 due to joining full time employment in Deloitte. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹46.15, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 23x in the Professional Services industry in India. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹46.15, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 23x in the Professional Services industry in India. Annuncio • May 23
ITCONS E-Solutions Limited to Report Fiscal Year 2023 Results on May 30, 2023 ITCONS E-Solutions Limited announced that they will report fiscal year 2023 results on May 30, 2023 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₹48.20, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 24x in the Professional Services industry in India. Board Change • Mar 13
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Mridul Rastogi was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. 
