Mitcon Consultancy & Engineering Services Ltd

₹ 110 -5.40%

21 Nov 3:46 p.m.

About

Incorporated in 1982, MITCON Consultancy
& Engineering Services Ltd is in the business
of consultancy and training services^[1]

Key Points

Business Overview:^[1]^[2]
MITCON is an ISO 9001:2015 Certified, SBTi registered company, formed
jointly by IDBI, IFCI, SICOM, MIDC, MSSIDC
and various banks as technical consultancy organizations.

It is an Indian Technical Consulting Org.
(TCO) offering solutions for all technical, marketing & financial business requirements in
power generation, energy efficiency, renewable energy, climate change and environmental management, banking, infrastructure, and biotechnology sectors.

Website NSE

Market Cap ₹ 224 Cr.
Current Price ₹ 110
High / Low ₹ 161 / 74.9
Stock P/E 32.9
Book Value ₹ 72.8
Dividend Yield 0.00 %
ROCE 9.17 %
ROE 6.66 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 21.4% CAGR over last 5 years
Company's working capital requirements have reduced from 65.0 days to 40.1 days

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 4.74% over last 3 years.
Contingent liabilities of Rs.114 Cr.
Earnings include an other income of Rs.4.49 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	38.12	10.57	17.68	11.88	7.96	9.44	15.22	15.79	23.53	10.44	20.29	9.80	14.65
	35.36	11.23	14.42	10.34	7.60	7.43	12.61	12.94	20.26	8.47	17.55	8.00	11.56
Operating Profit	2.76	-0.66	3.26	1.54	0.36	2.01	2.61	2.85	3.27	1.97	2.74	1.80	3.09
OPM %	7.24%	-6.24%	18.44%	12.96%	4.52%	21.29%	17.15%	18.05%	13.90%	18.87%	13.50%	18.37%	21.09%
	0.42	0.28	1.14	1.20	0.53	0.71	0.84	0.76	1.00	1.04	0.95	1.30	1.20
Interest	0.58	0.46	0.40	0.34	0.34	0.36	0.60	0.49	0.48	0.58	0.54	0.69	0.69
Depreciation	0.39	0.37	0.37	0.37	0.36	0.43	0.54	0.55	0.53	0.60	0.61	0.61	0.63
Profit before tax	2.21	-1.21	3.63	2.03	0.19	1.93	2.31	2.57	3.26	1.83	2.54	1.80	2.97
Tax %	61.09%	-115.70%	70.52%	30.05%	-1,052.63%	30.05%	63.20%	36.96%	26.69%	-2.73%	33.07%	35.56%	30.98%
	0.86	0.19	1.07	1.42	2.18	1.35	0.84	1.61	2.39	1.87	1.72	1.16	2.05
EPS in Rs	0.49	0.11	0.60	0.80	1.23	0.76	0.47	0.91	1.35	1.06	0.97	0.66	1.16
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	46.67	40.49	43.24	44.97	44.03	58.38	58.35	36.20	32.55	76.97	44.50	69.70	55.18
	33.13	30.77	34.66	37.95	38.85	55.05	57.27	34.35	35.48	71.54	37.97	58.87	45.58
Operating Profit	13.54	9.72	8.58	7.02	5.18	3.33	1.08	1.85	-2.93	5.43	6.53	10.83	9.60
OPM %	29.01%	24.01%	19.84%	15.61%	11.76%	5.70%	1.85%	5.11%	-9.00%	7.05%	14.67%	15.54%	17.40%
	1.98	2.25	4.09	3.57	2.80	3.55	5.12	6.52	2.94	2.47	3.27	3.75	4.49
Interest	0.05	0.09	0.06	0.05	0.06	0.77	0.52	1.13	1.32	1.75	1.64	2.09	2.50
Depreciation	1.51	1.62	4.83	3.80	2.39	2.52	1.86	1.69	1.53	1.49	1.71	2.29	2.45
Profit before tax	13.96	10.26	7.78	6.74	5.53	3.59	3.82	5.55	-2.84	4.66	6.45	10.20	9.14
Tax %	29.01%	30.99%	31.11%	31.60%	20.07%	21.17%	17.80%	26.67%	-31.34%	53.22%	10.08%	25.69%
	9.92	7.09	5.35	4.61	4.42	2.83	3.13	4.06	-1.95	2.18	5.80	7.58	6.80
EPS in Rs	992.00	4.46	3.36	2.90	2.78	1.78	1.97	2.29	-1.10	1.23	3.28	4.28	3.85
Dividend Payout %	2.52%	17.07%	22.62%	26.25%	27.38%	42.76%	38.66%	6.61%	-13.76%	12.31%	0.00%	0.00%

Compounded Sales Growth
10 Years:	6%
5 Years:	4%
3 Years:	29%
TTM:	-14%

Compounded Profit Growth
10 Years:	1%
5 Years:	21%
3 Years:	81%
TTM:	10%

Stock Price CAGR
10 Years:	%
5 Years:	27%
3 Years:	39%
1 Year:	35%

Return on Equity
10 Years:	4%
5 Years:	3%
3 Years:	5%
Last Year:	7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	0.50	12.10	12.10	12.10	12.10	12.10	12.10	13.42	13.42	13.42	13.42	13.43	14.50
Reserves	55.51	71.00	73.91	77.22	79.56	80.79	82.40	90.50	88.38	90.85	96.58	104.34	114.16
	0.00	0.00	0.00	0.00	0.00	0.00	8.93	6.92	13.52	14.16	16.48	23.83	28.01
	9.81	11.30	9.52	10.42	11.00	13.74	14.61	17.43	16.10	21.60	14.78	20.20	13.41
Total Liabilities	65.82	94.40	95.53	99.74	102.66	106.63	118.04	128.27	131.42	140.03	141.26	161.80	170.08
	19.27	23.83	28.80	26.36	22.78	21.43	20.15	18.52	23.02	23.63	29.70	28.93	30.45
CWIP	0.00	0.18	0.00	0.00	0.60	0.00	0.00	0.00	0.00	0.02	0.12	0.06	0.00
Investments	3.69	24.68	1.61	8.55	30.03	6.52	22.97	37.85	54.63	54.25	80.47	81.19	82.04
	42.86	45.71	65.12	64.83	49.25	78.68	74.92	71.90	53.77	62.13	30.97	51.62	57.59
Total Assets	65.82	94.40	95.53	99.74	102.66	106.63	118.04	128.27	131.42	140.03	141.26	161.80	170.08

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	4.35	3.61	4.75	-17.04	25.56	5.93	11.07	2.55	5.30	-6.04	15.69	11.58
	-0.50	-25.35	14.82	-5.30	-19.41	1.98	-33.20	3.29	6.10	-2.72	-16.11	-12.94
	-0.31	21.11	-1.44	-1.34	-1.34	-2.23	6.66	-4.60	-0.69	-1.35	0.13	5.93
Net Cash Flow	3.54	-0.63	18.13	-23.68	4.81	5.67	-15.46	1.25	10.70	-10.11	-0.29	4.57

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	112.39	145.68	132.78	141.15	144.99	97.10	75.69	159.21	133.55	95.32	135.17	102.64
Inventory Days
Days Payable
Cash Conversion Cycle	112.39	145.68	132.78	141.15	144.99	97.10	75.69	159.21	133.55	95.32	135.17	102.64
Working Capital Days	71.64	117.37	121.64	132.54	148.72	57.71	45.73	155.48	79.17	81.61	73.25	40.06
ROCE %	27.90%	14.95%	9.34%	7.76%	6.37%	5.20%	4.06%	6.24%	-1.34%	5.50%	6.37%	9.17%

Shareholding Pattern

Numbers in percentages

4 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	0.00%	0.00%	0.00%	9.85%	9.85%	16.85%	16.85%	16.85%	16.85%	16.85%	16.84%	17.21%
	13.98%	13.31%	13.31%	3.46%	3.46%	3.44%	3.43%	3.43%	3.43%	3.42%	2.23%	2.23%
	6.11%	6.11%	6.11%	6.11%	6.11%	6.11%	6.11%	6.11%	6.11%	6.11%	6.11%	4.64%
	79.91%	80.58%	80.58%	80.58%	80.58%	73.60%	73.61%	73.61%	73.62%	73.62%	74.82%	75.92%
No. of Shareholders	278	897	1,326	2,571	2,442	2,638	2,609	3,044	3,145	3,925	5,325	5,036

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	16.85%	16.85%	17.21%
	29.22%	36.99%	20.18%	16.27%	18.29%	13.31%	3.44%	3.42%	2.23%
	0.00%	0.00%	6.78%	6.11%	6.11%	6.11%	6.11%	6.11%	4.64%
	70.77%	63.01%	73.04%	77.61%	75.61%	80.58%	73.60%	73.62%	75.92%
No. of Shareholders	261	254	213	216	204	897	2,638	3,925	5,036

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Mitcon Consultancy & Engineering Services Ltd

Mitcon Consultancy & Engineering Services Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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