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MITCON Consultancy & Engineering Services Ltd.
(MITCON)
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Rating:55Neutral
Price Target:―
Action:Reiterated
Date:05/31/26
The score is primarily driven by improving profitability and a better leverage profile, tempered by weak cash conversion and volatile free cash flow. Valuation is relatively high based on the P/E, and technicals cannot be evaluated due to missing indicator data.
Positive Factors
Improving profitability
Turning from a loss in FY2021 to a profit by FY2026 with mid-single-digit net margins reflects a structural recovery in core operations. This durable improvement suggests better project selection, cost control and the potential to sustain earnings through normal cycles, supporting reinvestment and deleveraging.
Negative Factors
Weak cash conversion
Operating cash flow at roughly 11% of net income indicates that reported earnings convert poorly to cash. In a project-oriented business this points to working-capital absorption and timing gaps that persistently constrain liquidity, limiting the firm's ability to self-fund growth or accelerate debt reduction over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability
Turning from a loss in FY2021 to a profit by FY2026 with mid-single-digit net margins reflects a structural recovery in core operations. This durable improvement suggests better project selection, cost control and the potential to sustain earnings through normal cycles, supporting reinvestment and deleveraging.
Read all positive factors
MITCON Consultancy & Engineering Services Ltd. (MITCON) vs. iShares MSCI India ETF (INDA)
Market Cap
N/A
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)12.9
Beta (1Y)N/A
Revenue Growth49.79%
EPS Growth143.66%
CountryIN
Employees187
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)5.40
Shares OutstandingN/A
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)0.52
Price to Sales (P/S)0.65
P/FCF Ratio75.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
MITCON Consultancy & Engineering Services Ltd. Business Overview & Revenue Model
Company Description
MITCON Consultancy & Engineering Services Limited, an Indian firm established in 1982 and headquartered in Pune, delivers comprehensive advisory and engineering solutions. The company caters to a diverse client base across India, including small a...
How the Company Makes Money
MITCON primarily makes money by charging fees for professional services delivered to clients. Key revenue streams generally include: (1) Consulting and project services fees—income earned from executing client mandates such as project reports, fea...
MITCON Consultancy & Engineering Services Ltd. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
62
Positive
Cash Flow
41
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.26B | 1.13B | 1.29B | 836.52M | 1.07B |
| Gross Profit | 399.22M | 359.60M | 424.35M | 546.42M | 538.26M |
| EBITDA | 329.84M | 317.80M | 325.12M | 179.69M | 171.85M |
| Net Income | 80.88M | 55.56M | 53.34M | 43.92M | 10.63M |
Balance Sheet | |||||
| Total Assets | 3.22B | 2.86B | 3.12B | 2.48B | 2.17B |
| Cash, Cash Equivalents and Short-Term Investments | 161.18M | 75.67M | 140.47M | 187.35M | 63.90M |
| Total Debt | 985.41M | 1.13B | 1.44B | 1.15B | 829.65M |
| Total Liabilities | 1.49B | 1.46B | 1.81B | 1.34B | 1.10B |
| Stockholders Equity | 1.58B | 1.27B | 1.16B | 1.02B | 929.79M |
Cash Flow | |||||
| Free Cash Flow | 10.84M | -82.37M | -197.23M | 132.77M | -171.31M |
| Operating Cash Flow | 80.14M | 86.34M | 238.38M | 297.51M | -22.91M |
| Investing Cash Flow | -87.83M | 139.31M | -416.47M | -338.09M | -47.29M |
| Financing Cash Flow | 93.20M | -410.28M | 131.65M | 163.59M | -37.02M |
MITCON Consultancy & Engineering Services Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹888.43M | 14.33 | ― | ― | 8.90% | ― | |
70 Outperform | ₹2.29B | 6.96 | ― | 1.54% | 22.41% | 66.20% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ― | 12.93 | ― | ― | 49.79% | 143.66% | |
51 Neutral | ₹1.30B | 40.15 | ― | ― | 14.73% | 1.04% | |
43 Neutral | ₹542.19M | -1.04 | ― | ― | -70.62% | -385.50% | |
37 Underperform | ₹456.34M | -1.32 | ― | 1.88% | -63.77% | -537.92% |
* General Sector Average
IN:MITCON
MITCON Consultancy & Engineering Services Ltd.
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MITCON Consultancy & Engineering Services Ltd. Corporate Events
MITCON publishes FY26 audited results in leading newspapers
May 28, 2026
MITCON Consultancy Engineering Services Ltd. has announced that its audited standalone and consolidated financial results for the quarter and financial year ended 31 March 2026, approved by the board on 27 May 2026, have been published in the Fin...
MITCON says sharp share-price move is market-driven, denies undisclosed developments
Apr 26, 2026
MITCON Consultancy Engineering Services Ltd. has responded to the National Stock Exchange of India after a significant movement was observed in its share price, stating that there is no new relevant information that investors do not already posse...
MITCON to Acquire 49% Stakes in Two MINVEN Solar SPVs to Boost Renewable Portfolio
Mar 16, 2026
MITCON Consultancy Engineering Services Ltd. has executed acquisition agreements to purchase up to a 49% stake in MINVEN Solar 02 Pvt. Ltd. and MINVEN Solar 03 Pvt. Ltd., both early-stage Indian solar power generation companies with no turnover y...
MITCON signs deals to acquire 49% stakes in two MINVEN solar SPVs
Mar 16, 2026
MITCON Consultancy Engineering Services Ltd. has signed acquisition agreements to purchase up to a 49% stake in MINVEN Solar 02 and MINVEN Solar 03, both Indian solar power generation SPVs established in December 2024. The deals, to be executed i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.