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Business Standard
6 days ago
- Business
- Business Standard
ITCONS E-Solutions Reports 100 Percent Revenue Growth in FY 2024-25 Over Previous Fiscal
PNN New Delhi [India], June 2: ITCONS E-Solutions Ltd., a leading New Delhi-based player in India's Staffing and Human Resource Solutions sector, has once again exceeded expectations by posting exceptional results for FY2024- 25. The company recorded almost a 100% year-on-year (YoY) increase in revenue, the figure of INR 57.06 crore for the last financial year ending March 31, 2025, compared to INR 28.73 crore in the same period in FY 2023-24. Net profit also saw significant growth, recording PAT of INR 3.20 crore FRO fy 2024-25 from PAT of INR 1.90 crore in FY 2024-25. Earnings Per Share (EPS) for the periods stood at INR 5.23, underscoring the company's robust financials. During this financial year, the company consolidated its IT Manpower & added Technical Testing & IT Asset Management Consulting Services business, and added three prestigious clients, cumulating to INR 13 crore contributions in the financial year 2024-25. The company has a promising Book size in this new line of business. Government business, which became a focus at the start of FY2024- 25, grew manifold, and from 2 active clients at the start of the financial year, 19 new clients got added, cumulating to a book size of close to INR 52 crores. Orders were of different durations, ranging from 8 months to 36 months. Government business alone contributed to addition of close to 1000 manpower. ITCONS increased their footprint in the General Staffing business as well, gaining expertise in Temporary & Permanent Staff Services in the Highly Skilled, Skilled, Semi-Skilled & Unskilled resource categories. On achieving the excellent growth, the ITCONS board has also decided to give a 1.5% dividend of ITCONS Shares' face value, i.e. INR 0.15/ share, to its shareholders. Dr Gaurav Mittal, Managing Director, ITCONS E-Solutions Ltd, attributed the company's growth to the deployment of Technology & Process Standardisation to increase Per Person Productivity. Company's focus lead on developing expertise in all kinds of Staffing business in various industry verticals, across all types of resources, Permanent & Temporary Staffing servicers & entering and consolidating IT Staffing, IT Services, General Staffing & Government business. This opens new avenues for faster growth and goes a long way in business expansion, which not only will reduce dependency of the IT Staffing & Services Business but has been a Business Risk Mitigation Strategy as well. The company's stock market journey has been equally notable. ITCONS debuted on the BSE SME Platform in February-March 2023 with an IPO priced at Rs 51 per share, raising Rs 8.67 crore. Since listing, the stock achieved a high of Rs 767 during FY 2024-25 and currently trades at Rs 508.95, reflecting strong investor sentiment despite various market aberrations. To increase investor value, the company intends to explore an inorganic growth route in the staffing business by strategic acquisition in FY 2025-26 and has set the ground in place to diversify into Solar Power production. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
Business Standard
26-05-2025
- Business
- Business Standard
Astonea Labs Ltd plans to raise up to Rs. 37.67 crore from Public Issue; IPO opens on May 27
PNN New Delhi [India], May 26: Haryana based pharmaceutical and cosmetic products manufacturer, Astonea Labs Ltd is planning to raise Rs. 37.67 crore from its SME public issue. The company has received approval to launch its public issue on BSE SME Platform. The public issue open for subscription on May 27 and closes on May 29. Oneview Corporate Advisors Private Limited is the lead manager of the issue. Company plans to issue 27.90 lakh Equity shares of Rs. 10 face value at a price band of Rs. 128- Rs. 135 per share; Shares to list on BSE SME Highlights:- * Fresh Public issue of Rs. 37.67 crore opens for subscription from May 27 to May 29 * Minimum lot size for application is 1000 shares; Minimum IPO application amount at the higher side of this issue is Rs. 1.35 lakh * Funds raised through the issue will be used for Expenses, Business & Capacity Expansion, Advertising & Marketing, Investment in procuring hardware and software and Funding Capital Expenditure * For FY23-24 company reported revenue of Rs. 80.29 crore and Net Profit of Rs. 3.81 crore * As on 31 March 2024, ROE at 37.86%, ROCE at 22.95% and RoNW at 31.83%. * Oneview Corporate Advisors Private Limited is the lead manager of the issue. The initial public offering of Rs. 37.67 crore comprises of a fresh issue of 27.90 lakh equity shares of face value Rs. 10 each with a price band of Rs. 128 to Rs. 135 per share. Out of the fresh issue of Rs. 37.67 crore, company plans to utilize Rs. 1.29 crore towards funding of expenses proposed to be incurred towards registration in Bolivia, South America while Rs. 5.2 crore will be used towards purchase and installation of plant and machineries for ointment production for the purpose of export in accordance with the international standards and protocols. Company also plans to utilize Rs 4.95 crore for advertising, marketing and brand building, Rs. 68 lakh for investment in procuring hardware and software and Rs. 19.75 crore for working capital requirements. Minimum lot size for the application is 1000 shares which translates in to minimum investment of Rs. 1.35 lakh per application on higher side of issue. The retail quota is 35%, QIB is 50%, and HNI is 15%. Incorporated in 2017, Astonea Labs Ltd. is engaged in contract manufacturing of pharmaceutical and cosmetic products for companies both within India and internationally. The company manufactures and markets a variety of pharmaceutical and cosmetic products, including antibiotics, anti-cold medicines, antihistamines, and treatments for diabetes, heart, gynecological issues, infections, and more. The company offers skin, tooth, and hair care products in forms like gels, creams, and serums, and also trades packaging and raw materials for pharmaceutical and cosmetic industries, meeting industry standards. The company engages in contract manufacturing of pharmaceutical and cosmetic products, markets its own brands "Glow Up" and "Regero," plans to launch "Avicel," and exports to countries like Iraq and Yemen. For FY23-24 ended March 2024, the company reported revenue of Rs80.29 crores in 2024 against Rs67.26 crore in 2023. The company reported profit of Rs3.81 crores in 2024 against profit of Rs0.67 crores in 2023, with a healthy EBITA margin of 14.60% and PAT margin of 4.75%. For the nine months ended December 2024, company reported total revenue of Rs. 69.55 crore and Net Profit of Rs. 4.10 crore. As on 31st March 2024, ROE of the company was at 37.86%, ROCE at 22.95% and RONW at 31.83%.
Business Upturn
26-05-2025
- Business
- Business Upturn
Markolines Pavement Technologies receives in-principle approval to migrate from BSE SME to BSE Mainboard
By Aditya Bhagchandani Published on May 26, 2025, 08:26 IST Markolines Pavement Technologies Limited has received in-principle approval from BSE for its migration from the BSE SME Platform to the BSE Mainboard, according to an exchange filing made on May 26, 2025. The approval marks a significant milestone for the company, formerly known as Markolines Traffic Controls Limited, and aligns with its strategic aim to enhance visibility and attract broader investor participation through a mainboard listing. The company stated that this development is in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has attached the in-principle approval letter as part of its submission to BSE Limited. Markolines Pavement Technologies is engaged in offering infrastructure services, including pavement marking and highway maintenance solutions, and has been listed on the BSE SME platform under the scrip code 543364 with ISIN INE0FW001016. This migration, once finalized, will enable the company to access a wider pool of institutional investors and improve trading liquidity for its shareholders. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
