ITCONS E-Solutions Ltd

Contract award details

• Awarding entity: South Western Railway, Indian Railways, Ministry of Railways.
• Nature and scope: Manpower outsourcing; deployment of 153 resources.
• Total contract value INR 136808080.63 inclusive of all duties and taxes.
• Domestic entity.
• Contract period: Aug 21, 2026 to Aug 21, 2028.
• Commencement: Aug 21, 2026; may be extended by mutual agreement.
• Promoter/related party: No promoter or related party interest.
• Material impact: enhances order book and revenue visibility.

Appointment of Independent Director

• Effective Aug 18, 2026, Ajay Rana appointed Independent Director for one year.
• Subject to shareholders' approval.
• Profile: Prof. Ajay Rana, Director General (Independent Charge) at Amity University, Greater Noida.
• Experience: 26+ years in higher education leadership; Ph.D. and M.Tech in Engineering.
• IETE Fellow; IEEE Senior Member.
• Not related to other directors.
• Not debarred by SEBI or any authority.

Order details

• Awarding entity: Board of Revenue, Government of Uttar Pradesh (Revenue Department).
• Nature and scope: Deployment of 108 resources under manpower outsourcing services.
• Contract value: INR 8,132,756.40 inclusive of taxes and duties.
• Contract duration: 26 July 2026 to 28 December 2026 (5 months).
• Terms: Extendable by mutual agreement between the parties.
• Related party: No promoter group interest; not a related party transaction.

Dematerialisation processing and listing status

• Securities received for dematerialisation were processed (accepted/rejected) by the registrar and transfer agent.
• Dematerialised securities have been listed on the stock exchange where the issuer's existing securities are listed.
• Certificates were mutilated and cancelled after verification, with the depository named as registered owner within the prescribed timeline.

Purpose

• Postal Ballot to seek member approvals on six special resolutions.

Resolutions

• Resolution 1 (Special): Change designation of Adit Mittal to Executive Director for five years.
• Resolution 2 (Special): Re-appoint Nikky Gupta as Independent Director for five years (Aug 2026–Aug 2031).
• Resolution 3 (Special): Revise remuneration of MD & CEO Gaurav Mittal to Rs 60 LPA with 20% increments.
• Resolution 4 (Special): Increase Section 186 limit for loans/guarantees/securities to Rs 1000 crores.
• Resolution 5 (Special): Authorize loans/guarantees to subsidiaries/associates up to Rs 1000 crores.
• Resolution 6 (Special): Increase borrowing limit under Section 180(1)(c) to Rs 1000 crores.

Governance & financial impact

• Adit Mittal appointment as Executive Director enhances executive oversight.
• Nikky Gupta Independent Director re-appointment increases board independence.
• MD/CEO remuneration revisions may raise fixed costs; subject to limits.
• Borrowing/investment limits expanded to Rs 1000 crores.
• Related party considerations exist; Adit Mittal is MD’s son; abstention details not specified.

Voting timeline

• E-voting window: July 3 to August 1, 2026; results within 2 working days.
• Eligibility cut-off: June 26, 2026.
• Result deemed passed if approved by requisite majority on Aug 1, 2026.

Award details

• Awarding entity: DG of Defence Estate, Department of Defence, Ministry of Defence (Domestic).
• Nature and scope: Deployment of 5 resources for manpower outsourcing for 1 year.
• Total contract value: INR 5,518,664.48 inclusive of all taxes.
• Time period: July 01, 2026 to June 30, 2027.
• Domestic status: Awarding entity is domestic; contract is for manpower outsourcing.
• Related party/ promoter: No promoter interest; no related party transactions.
• Material impact: No explicit revenue impact disclosed; contract milestone noted.

Contract award

• Ministry of Ayush awarded ITCONS E-Solutions a manpower outsourcing contract.
• Scope covers deployment of 32 resources for one year.
• Contract value is INR 12,892,544.95, inclusive of all duties and taxes.
• The awarding entity is domestic.
• Execution runs from June 3, 2026 to June 2, 2027, extendable by mutual agreement.
• No promoter, promoter group, or group company interest was disclosed.
• The contract is not a related party transaction.

Contract award

• Sports Authority of India awarded a manpower outsourcing contract.
• The contract covers deployment of 6 resources for one year.
• Contract value is INR 57,02,580, inclusive of all duties and taxes.
• The awarding entity is domestic.
• Execution runs from June 03, 2026 to June 02, 2027, extendable by mutual agreement.
• No promoter, promoter group, or group company interest was reported.
• The contract is not a related party transaction.

Contract award

• Indian Army, Department of Military Affairs, Ministry of Defence awarded the contract.
• Scope covers manpower outsourcing services, deploying 31 resources.
• Contract value is INR 85,38,027.08, inclusive of all duties and taxes.
• The awarding entity is domestic.
• Contract runs for one year, from April 29, 2026 to April 3, 2027.
• Extension is possible by mutual agreement between the parties.
• No promoter, promoter group, or group company interest was disclosed.
• The contract is not a related party transaction.
• Company described the order as a significant milestone with continued government trust.