CRISIL Research has assigned a fundamental grade of ‘SME 4/5’ to MITCON Consultancy and Engineering Services. The grade indicates that the company’s fundamentals are superior relative to other SMEs in India. The rating agency has also assigned a SME valuation grade of 5/5, indicating that the current market price has strong upside.
The assigned SME fundamental grade reflects the company’s established position in the engineering consultancy and training industry. The grade is, however, constrained by tepid growth in the company’s consulting business over the past two years on account of muted economic growth and slowdown in investment spending.
MITCON Consultancy and Engineering Services promoted by leading commercial banks, financial institutes and state development corporations - ICICI Bank, IDBI and IFCI. The company began by offering soft consultancy services (such as draft report preparation) and gradually expanded its services to include technical consultancy and training services.
