MITCON Consultancy & Engineering Services Ltd. (MITCON) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): N/A
• Revenue Growth: -1.78%
• EPS Growth: -47.75%
• Country: IN
• Employees: 187
• Sector: Services
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): 0.78
• Shares Outstanding: N/A
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: -12.51
• Price to Book (P/B): 0.55
• Price to Sales (P/S): 0.62
• P/FCF Ratio: -8.50
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: ―
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is primarily constrained by weak cash generation (low operating cash flow vs net income and negative free cash flow in FY2024–FY2025), despite improved operating margins and some balance-sheet deleveraging. Technical and valuation inputs were not provided, limiting support from market-based and pricing factors.

Positive Factors

Improved Operating Margins

Improved operating margins indicate better cost management and efficiency, enhancing the company's ability to generate profits from its operations.

Leverage Improvement

Reduced leverage enhances financial stability and reduces risk, providing the company with more flexibility to invest in growth opportunities.

Balance Sheet Stability

Growth in equity strengthens the balance sheet, providing a buffer against financial volatility and supporting long-term strategic initiatives.

Negative Factors

Weak Cash Generation

Weak cash generation limits the company's ability to fund operations and growth internally, potentially increasing reliance on external financing.

Negative Free Cash Flow

Negative free cash flow indicates cash absorption, which can strain liquidity and necessitate borrowing or asset sales to meet financial obligations.

Uneven Revenue Growth

Declining revenue growth suggests challenges in market demand or competitive positioning, potentially impacting long-term profitability and market share.

MITCON Consultancy & Engineering Services Ltd. Business Overview & Revenue Model

Company Description

MITCON Consultancy & Engineering Services Limited provides consultancy and engineering services for small and medium enterprises, corporates, banks, financial institutions, and government organizations in India. The company operates through Consultancy and Training, Project Services, and Wind Power Generation segments. It offers technical, financial, and engineering services to decentralized power generation projects; energy and carbon services; and environment management and engineering services. The company also provides project design, engineering, and project management services; and technical and financial consultancy services primarily to public, private, and co­operative sector banks. In addition, it offers solutions from concept to commissioning to textiles projects, as well as industrial clusters and infrastructure development; and solutions for agriculture, livestock, food, and biotechnology and pharmaceutical sectors, as well as consultancy and legal support services related to securitization and financial restructuring for the banks and financial institutions. Further, the company provides vocational and entrepreneurship development training, and counseling; CSR and skill development training services; and IT based training courses, as well as generates power from wind energy. The company was formerly known as MITCON Consultancy Services Limited and changed its name to MITCON Consultancy & Engineering Services Limited in October 2010. MITCON Consultancy & Engineering Services Limited was incorporated in 1982 and is headquartered in Pune, India.

How the Company Makes Money

MITCON generates revenue primarily through its consultancy and engineering services, which are billed on a project basis. Key revenue streams include fees for feasibility studies, project management services, and environmental assessments, which are charged based on the scope and complexity of each project. The company also earns income from training programs and workshops designed to enhance skills in various sectors. Additionally, MITCON has formed strategic partnerships with government agencies and private enterprises, enabling it to secure contracts for large-scale projects and initiatives, thereby contributing significantly to its earnings.

MITCON Consultancy & Engineering Services Ltd. Financial Statement Overview

Summary

Operating profitability has improved (EBIT margin ~19–20% and EBITDA margin ~25–28% in FY2024–FY2025) and leverage is trending better (debt-to-equity ~0.89 in FY2025 vs ~1.24 in FY2024). However, the overall financial profile is dragged down by weak cash conversion and negative free cash flow in FY2024 and FY2025, plus uneven growth (revenue down ~1.6% in FY2025) and modest net margins (~4–5%).

Income Statement

Profitability has improved materially versus earlier years, with positive net income since FY2022 and solid operating profitability in FY2024–FY2025 (EBIT margin ~19–20% and EBITDA margin ~25–28%). However, the growth profile is uneven: revenue expanded strongly in FY2024 but declined in FY2025 (about -1.6%), and net profit margins remain modest (~4–5%), leaving earnings sensitive to project mix and cost pressure.

Balance Sheet

Leverage is meaningful for the business profile: debt-to-equity is below 1.0 in FY2025 (~0.89) and improved from FY2024 (~1.24), but absolute debt remains high. Equity has grown, supporting balance-sheet stability, yet returns are moderate (return on equity ~4–5%), suggesting limited value creation relative to the capital employed.

Cash Flow

Cash generation is the weakest area. Operating cash flow is positive in FY2025 but relatively low versus net income (operating cash flow to net income ~0.15), and free cash flow is negative in FY2024 and FY2025, indicating ongoing cash absorption (likely working-capital and/or investment needs). While there were years with positive free cash flow (e.g., FY2021 and FY2023), the recent pattern raises funding and liquidity risk if negative free cash flow persists.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.13B	1.13B	1.29B	836.52M	1.07B	616.59M
Gross Profit	697.78M	359.60M	424.35M	546.42M	538.26M	192.79M
EBITDA	298.88M	317.80M	325.12M	179.69M	171.85M	114.30M
Net Income	39.45M	55.56M	53.34M	43.92M	10.63M	-20.30M
Balance Sheet
Total Assets	0.00	2.86B	3.12B	2.48B	2.17B	1.96B
Cash, Cash Equivalents and Short-Term Investments	75.67M	75.67M	140.47M	187.35M	63.90M	198.95M
Total Debt	0.00	1.13B	1.44B	1.15B	829.65M	833.03M
Total Liabilities	-1.40B	1.46B	1.81B	1.34B	1.10B	966.65M
Stockholders Equity	1.40B	1.27B	1.16B	1.02B	929.79M	909.41M
Cash Flow
Free Cash Flow	0.00	-82.37M	-197.23M	132.77M	-171.31M	153.42M
Operating Cash Flow	0.00	86.34M	238.38M	297.51M	-22.91M	193.10M
Investing Cash Flow	0.00	139.31M	-416.47M	-338.09M	-47.29M	-63.47M
Financing Cash Flow	0.00	-410.28M	131.65M	163.59M	-37.02M	-925.00K

MITCON Consultancy & Engineering Services Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHRADHA	63 Neutral	₹3.13B	11.33	―	1.09%	10.83%	-3.84%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
RKEC	49 Neutral	₹1.09B	11.72	―	―	-12.26%	-36.87%
MITCON	48 Neutral	―	―	―	―	-1.78%	-47.75%
CANDC	42 Neutral	₹60.05M	―	―	―	―	―
CYBERMEDIA	41 Neutral	₹307.86M	26.85	―	―	3.93%	-6902.88%

MITCON Consultancy & Engineering Services Ltd. Corporate Events

MITCON Confirms SEBI-Compliant Dematerialisation of Shares for Quarter Ended December 31, 2025

MITCON Consultancy & Engineering Services Ltd. has informed the National Stock Exchange that, in line with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, all securities received for dematerialisation during the quarter and nine months ended 31 December 2025 have been duly processed. Based on a confirmation from its registrar and transfer agent MUFG Intime India Private Limited, the company confirmed that these securities have been listed on the relevant stock exchanges, the physical certificates have been verified, mutilated and cancelled, and the depositories’ names have been substituted as registered owners within the prescribed timelines, underscoring compliance with regulatory requirements and supporting orderly share dematerialisation for investors.