JKB Financial Services Ltd.

As on : 26-Sep-2025

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26-Sep-2025 09:50

ITCONS E-Solutions secures major manpower supply contract from HAL

This win marks a major addition to the company's growing portfolio in government and defense service engagements.

According to the official notification, the contract is valued at Rs 3,85,25,972.49 and will be executed over a period of two years. The service term begins on 6 October 2025, and concludes on 5 October 2027.

The scope of the agreement includes the provision of qualified personnel to support HAL's operations across its various units. The contract strengthens ITCONS E-Solutions' position as a trusted provider of human resource solutions to strategic sectors, especially those led by government entities.

The company clarified that this transaction does not constitute a related party transaction, and neither the promoter nor the promoter group has any interest in HAL.

This order reflects ITCONS E-Solutions' expanding footprint in the public sector services space, particularly within the defense and aerospace domains. The company continues to align its growth strategy with the government's push for self-reliance under the 'Aatmanirbhar Bharat' initiative and increased operational efficiency across public sector undertakings.

ITCONS E-Solutions is engaged in the business of recruitment and staffing services.

Hindustan Aeronautics, a defence public sector undertaking (DPSU), undertakes design, development, manufacturing, maintenance, repair, overhaul, and servicing of aircraft, helicopters, engines and other related systems like avionics, instruments, and accessories. The Government of India (GoI) is HAL's largest shareholder, with a stake of 71.64% as on 30 June 2025.

Shares of ITCONS E-Solutions declined by 1.24%, to Rs 533, while Hindustan Aeronautics (HAL) rose 0.48% to close at Rs 4,797.90 on the BSE.

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