Overview of our Business
MITCON is an ISO 9001:2015 certified Technical Consulting Organization (TCO) offering Concept to Commissioning solutions for various businesses for last 40+ Years. MITCON has experience in multiple industry verticals including Energy Transition, Renewables, Biofuels, Green Chemistry, Skill Development, Environment Management and Engineering, Business Advisory Services, Infrastructure, Earth Observations (Satellite Data integrated with AI/ML) for agriculture, forestry and infrastructure monitoring, Trustee Services. We are headquartered at Pune and have presence across the country Mumbai, New Delhi, Ahmedabad, Bangalore and Nagpur.
We operate as a professionally managed Company with our Board comprising of Executive Directors, Non- Executive Directors, Woman Director and Independent Directors. Over the last four decades, we have gained proficiency in providing corporate solutions in power, energy efficiency, renewable energy, climate change and environmental management sectors. Over the years, we have diversified into providing services to banking, infrastructure and biotechnology sectors. We provide solutions to our clients depending on their requirements inter alia including feasibility studies, detailed project reports, techno economic feasibility reports, financial syndication, lender’s engineer services, EIA, basic and detailed engineering, bid process management, project management, cluster development, technical/ financial restructuring, energy audits, corporate debt restructuring, due diligence, qualitative and market research, assets/ business valuation and consultation services in wind power project. Our skill development division offers skill based training programs in solar, Wind, Electrical Vehicles, GIS, Data Science, Clinical Research etc. Recently, we added infrastructure consulting, development of nature based carbon credit projects and satellite monitoring services to our portfolio.
MITCON considers the Sustainable Development Goals (SDGs) as an anchor for developing its services and products thereby realizing a sustainable society and improving people’s Quality of Life (QoL). Thus, MITCON is carrying out its Engineering and Consultancy Services which cater ESG Reporting, Sustainability Reporting, Climate Change Mitigation & Adaptation, Carbon Neutrality & Net Zero, Carbon Credits to achieve Sustainable Development Goals. Also, we ensure our work and projects we execute too are contributing to fulfillment of major SDGs.
MITCON has successfully completed 18000+ Consulting Assignments across 50+ Countries in Asia, Middle East, and African Markets and have trained more than 27 Lakh individuals under various Government & Non- Government Skill Development & Entrepreneurship Programs with record 75% placements. MITCON has also successfully completed 25000+ market studies.
Our Services
We provide Consultancy and Engineering Services to various sectors through our following business divisions:
Since 1994, Solar segment of our Company is one of Indias top leading comprehensive solar energy solutions provider - Concept to Commissioning. We assist clients with advisory or project management roles with comprehensive tailor-made service to meet client demands.
We offer a newer approach to the traditional EPC business model to serve a new era in the power generation industry by providing a flexible and comprehensive suite of services for utility-scale and
"The web of life starts underground. Soil organisms are the
unsung heroes of biodiversity."- Prince Charles 52
distributed generation renewable energy projects, energy storage and integrated solutions ranging from construction only to turnkey EPC.
MITCON has been providing Engineering, Consultation & Project Management Services Committed to reduce the lifetime cost of energy, ensuring longer system life & high long-term performance. 2017 onwards we extended to Solar EPC with accelerated expansion plans. The company has provided various services for 5000+ MWp of renewable Energy.
Other services provided under this division are Soil Investigation including Geotech & ERT test, Contour survey & preparation of contour Map, Preparation of plant layout, Civil and structure design drawings, AC & DC Single Line Diagrams (SLD), DC electrical design, AC electrical design, Instrumentation design drawings, Electrical major layouts, Erection key drawings including cable trench, earthing, LA layout etc., Foundation drawings, Design of drainage system as per site condition, Design of module cleaning system with water storage.
Over the years, the Company has developed domain expertise for design and construction of single axis tracker solar plants, floating solar, wind power, offshore wind power, Hybrid (Solar-Wind), Solar+Wind with BESS, Standalone BESS, EV Charging Infra, Pumped Hydro Energy Storage etc.
At MITCON, Climate Change and Sustainability Division continues to be a key enabler for organizations making a low-carbon and sustainable transition, in line with India’s and Global growing sustainability commitments. Climate Change and Sustainability division provides an entire spectrum of services to help industries, commercial establishments and governments, measure, manage, and reduce their environmental footprint while following international standards.
During FY 2024–25, our services were instrumental in supporting customer across sectors in meeting regulatory and voluntary disclosure requirements, reducing carbon intensity, and preparing for global compliance mechanisms such as the EU’s Carbon Border Adjustment Mechanism (CBAM). Our offerings include:
CDP, TNFD and TCFD Reporting to quantify the climate risk associated with business and charting out action plan in line with SSP-1,2,3 and 5 scenarios.
We continue to strengthen our technical expertise, digital capabilities, and collaborative networks to ensure our clients are future-ready in a rapidly changing regulatory and environmental landscape.
Looking ahead, the division remains committed to delivering high-integrity climate advisory services, which will enable our customers to transition responsibly and sustainably towards net-zero, and contribute meaningfully to sustainable development goals.
Global Climate Commitments:
18.23 Lakh Crore annually required by developing nations till 2030. Critical sectors like agriculture received only 11% of adaptation funds
India Climate Landscape:
"Soil is the foundation of all life — its biodiversity supports
every ecosystem on Earth."- David Attenborough 55
Annually INR 11 Lakh Crore is required to meet India’s climate finance goals
“Biofuels” is a long-term sustainable solution, supporting society’s efforts towards sustainable development. It is also strategically important for promotion of the Government of India initiatives such as Make in India, Swachh Bharat Abhiyan, Skill Development, and Atmanirbhar Bharat. In addition, it offers a great opportunity to integrate with the ambitious targets of doubling Farmers’ Income, Import Reduction, Employment Generation, Cleaner Environment, and Waste to Wealth Creation.
From concept to commissioning, our division provides an array of expert services- Pre-Investment phase, Consultancy / Engineering Services during execution phase for Biofuels (1G, 2G, 3G Bioethanol, Green Hydrogen, Bio-CNG/ CBG, Bio-Diesel, drop-in fuels) & Green Chemistry until the successful commission of the plant. In addition, we also provide consultancy services to the Potable Alcohol Distillery sector, Sugar Sector, Coal/Bagasse/ Biomass-based Cogeneration power sector, as well as integrated sugar, Cogeneration Power & Ethanol/ Distillery projects.
Green Chemistry in coordination with fermentation technology can be a sturdy pillar for earth’s sustainable future. Climate change, soil erosion and desertification, water and air pollution are the evils which are marching to destroy the earth planet. On war front, to check theses evils, we need to use green weapons. Green Chemistry projects are promising with focus on bio-based materials, scalable green manufacturing techniques, carbon capture and utilization and CO2 valorization (P2X). With this background, MITCON have developed some of the technologies which can be used to produce biofuels and green chemicals. Biochar is promising material for agriculture, climate change and carbon sequestration. CO2 valorization is a very important factor to reduce the air pollution and ever-increasing temperature. We have been successful to get value added products from CO2 at TRL 5-6. Biomass to bioethanol via bio-route invented and its stability test is in progress. Many other projects viz. organic acid production, BioH2 and biogas production reached to milestone. Following the green pitches, our Research and Development is engaged in exploration of green chemistry innovation more broadly to drive meaningful change. Looking ahead, the projects undertaken underscores the growing significance of green chemistry initiatives. The promise to innovation in this field will be crucial for developing effective solutions that can contribute to a more sustainable future. The designed projects reflect a promising trajectory for Green Chemistry, emphasizing the need for more green projects in the pursuit of environmental sustainability.
Highlights:
"Soil is a silent partner in biodiversity. Without its invisible web
of life, visible ecosystems collapse."- Jane Goodall 56
Our recent venture, wherein we have developed technologies;
At lab scale we have even succeeded in developing various solutions namely:
The core objective is to reduce the carbon footprint by replacing the current polluting processes with environment-friendly sustainable green chemicals.
In light of the promising trends and expected developmental shifts in both the global and Indian markets, we aim to place greater emphasis on the following focus areas:
An alternate fuel made from non-petroleum feedstocks that reduces emissions from air transportation. SAF can be blended at different levels with range between 10% to 50% depending on the feedstock and method of fuel production. With an aspirational goal to reach net zero by 2050 set by the International Aviation Industry, SAF presents the best opportunity to meet these goals.
Methane-based renewable energy sources such as Biogas and Compressed Biogas (CBG) are increasingly being recognized as critical components in the global transition to cleaner and circular energy systems. These energy vectors not only contribute to reducing dependence on fossil fuels but also offer solutions for waste management, carbon neutrality, and rural energy access. With rising concerns over methane emissions, there is growing momentum worldwide to capture and utilize methane efficiently — positioning biogas and CBG as key players in the low-carbon economy.
Due to its potential for lower cost of production, reduced flammability risk and various other environmental risks, methanol is being considered as the promising future fuel. Having various applications which exists in infrastructure, powering vehicles and ships and also used for cooking and heating. With lower production costs, various feedstocks, reduced greenhouse gas emissions, clean burning, carbon neutral potential and wide range of applications, methanol is gaining traction as the fuel of future.
Carbon Capture Utilization is a process of capturing CO2 emissions from various sources like industrial plants, power generations facilities and also captured directly CO2 from air and converting captured CO2 into valuable products including fuels. With a vision of promoting the circular economy by transforming the waste product into a valuable resource and thus reducing our dependencies on the fossils fuels. CCU’s can be used across various industrial applications like: Production of synthetic fuels like methanol/methane, production of concrete or Building Materials, producing chemicals for various industrial applications, to enhance oil recovery.
As the industries seek to reduce their carbon footprint, the demand for green ammonia is expected to increase significantly. The green ammonia is produced by renewable energy sources like solar and wind which is then used to produce hydrogen through electrolysis. The hydrogen produced is thus combined with nitrogen which is extracted from air to synthesize ammonia.
The hydrogen produced using the renewable energy sources like electrolysis which are powered by solar or wind is known as the green hydrogen. It is considered as the clean source of energy because its production does not release any of the greenhouse gasses. Having its application in various industrial sectors, the topic of green hydrogen is the talk of the town. It is believed that green hydrogen can be a significant part of the international trade with countries like Chile, Australia and Saudi Arabia which are emerging as the potential exporters.
Biochar is rapidly gaining global traction as a carbon-negative solution, driven by its multifaceted environmental and economic benefits. With increasing climate commitments from governments and industries, biochar is being recognized as a verified carbon removal technology under various international carbon markets. This positions it as a key enabler in achieving net-zero targets and supporting the growth of voluntary carbon credit mechanisms. Simultaneously, the rising need for sustainable agriculture and soil health restoration further reinforces the relevance and widespread applicability of biochar, especially in regions striving for regenerative and climate-resilient farming practices.
Following are the major SDG goals we proudly achieve:
SDG 7– Affordable and Clean Energy - (7.2 -Renewable energy uptake) ? Promoting biofuels contributes to renewable energy adoption and energy diversification. We are supporting the shift to biofuels through feasibility studies, technology deployment, and pilot demonstrations.
SDG 9 – Industry, Innovation, and Infrastructure – (9.5 - Enhance Scientific R&D) ? We are conducting in depth research, developing optimised solutions and recommendations, providing engineering and technology services which shall strengthens the innovation culture for development of new technologies.
SDG 12 – Responsible Consumption and Production – (12.4 – Responsible chemicals) ? Green chemistry and sustainable production practices directly reduce waste and promote circular economy models. Also, by promoting non-toxic, efficient, and circular chemistry through lab-to-market support.
SDG 13 – Climate Action – (13.2 - Climate change mitigation) ? Biofuels and low-carbon technologies are instrumental in reducing GHG emissions and are driving decarbonization through bio-based energy, low- carbon processes, and emission-reducing technologies.
SDG 17 – Partnerships for the Goals – (17.6 -access to science, technology and innovation and enhance knowledge sharing) ? Technical collaborations need partnerships across academia, government, industry, and technology suppliers for technology transfer, capacity building, and sustainable industrial growth
The nation that destroys its soil, destroys itself- Franklin Delano Roosevelt 59
Our Environment Management and Engineering (EME) Division delivers integrated environmental consultancy and turnkey engineering solutions that meet the highest standards of regulatory compliance, sustainability, and operational excellence. The Environment Management and Engineering (EME) Division assesses all the factors contributing to environmental concerns in view of legal, statutory compliances & consultancy services. These factors are varied and often interconnected. They generally fall into natural and human-induced categories, with human activities being the dominant contributors. Environment itself is our stakeholder, around which we have channelized our manpower, resources and infrastructure to help clients address their needs and requirements around.
Our services and products are designed under the umbrella of the Environment Protection Act (EPA) to establish their presence where everything and anything has been constructed, devised, manufactured, prepared improved, demolished, wasted, de-constructed, used, re-used, recycled, consumed, saved, misused, overused, scrapped and so on.
We assess environmental challenges across natural and human-induced factors, with a strong focus on legal and statutory requirements. We position the environment itself as a key stakeholder, directing our manpower, resources, and infrastructure to address our clients’ most pressing environmental needs. Our services are grounded in the Environment Protection Act and aligned with the latest frameworks, guidelines, directions and policies issued by Ministry of Environment, Forest & Climate Change (MoEF&CC), Central Pollution Control Board (CPCB) & State Pollution Control Boards (SPCBs), National Green Tribunal (NGT), Forest Survey of India (FSI), Wildlife Crime Control Bureau (WCCB), National Biodiversity Authority (NBA) etc.
We provide consultancy in environment management, laboratory analysis and testing, monitoring and evaluation, waste management, water and waste water management.
Our division’s core Service Domains are:
The soil is the great connector of our lives, the source and destination of all
– Wendell Berry 60
The Ancient Rule: Whatever is affixed to the soil belongs to the soil- Anglo-
Saxon Law 62
We offer more than services—we deliver environmental assurance, sectoral adaptability, and sustainable value creation. Our unique positioning as a Total Compliance Organization (TCO) and turnkey execution partner sets us apart in an increasingly complex regulatory and climate-sensitive landscape.
| One-Stop Environmental Solution Provider | Cross-Sectoral Expertise |
| Execution + Advisory Dual Strength | Circular, Low-Carbon Focus |
| High Client Retention | Proactive, Young, and Dynamic Workforce |
| Execution-Backed ESG Solutions | Turnkey Expertise |
| Technical + Social Impact Synergy | Policy-Linked Visibility |
| End-to-End Partner | Bankable, Audit-Ready Projects |
| Strive to Learn and Collaborate with Vision-Centric Stakeholders and Veterans | Capacity to Address Multilateral Development Bank Aided Projects and Scope of Works |
Our operations strategically leverage the key national and state-level accreditations fortifying our position as one of India’s most trusted environmental solution providers. Our capabilities are enhanced by the following recognitions and certifications:
The soil is the great connector of our lives, the source, and destination of all-
Wendell Berry 63
integrity across air, water, soil, and waste parameters
Sectoral Contribution
Service Portfolio
Strategic Highlights
Industrial Transformation
Water Circularity in Industry
| ? Supported Zero Liquid Discharge (ZLD) compliance. ? Enabled INR 23 Lakh seasonal savings via condensate reuse. ? Improved operational performance through optimized O&M practices. ? At one of our key client facilities, our Operation & Maintenance (O&M) intervention led to significant water savings and operational efficiencies through effective condensate management. Parameter | Value |
| Total Effluent/Condensate Treated | 192,759 KL |
| Treated Condensate Recycled | 176,430 KL |
| Cost Savings from Recycled Condensate | INR 55,89,302.40 |
| Net Operational Cost Savings | INR 23,86,179.40 (+) |
If the soil is destroyed, then our liberty of action and soil are gone- W.C.
Lowdermilk 64
Global-Standard Environmental Due Diligence
Urban Infrastructure & Transport
Solid Waste Management
In-House Testing & Analysis Laboratory
Representative Project Scale
| Project Type | Scope | Investment (INR Lakh) |
| Distillery Expansions | 60–350 KLPD | 7,000–25,000 |
| Industrial Chemicals | Organic Production Facility | 350 |
| Eco-Tourism & Resorts | Coastal Resort Development | 20,000+ |
| Mixed-Use Development | Residential + IT/Commercial | 4,60,000+ |
| Industrial Parks | Logistics & Manufacturing Hubs | 96,500+ |
The division offers consultancy services for project finance or corporate finance activity. Accordingly, the division caters to the requirement of banks, financial institution and other lender or investors institutions, government organizations, grant agencies and large corporations in their assessment. A representative list of service offer by the division are as under:
Civilizations have been founded and lost based on the quality of their soil- 65
Jared Diamond
To forget how to dig the Earth and to tend the soil is to foregt ourselves-
Mahatma Gandhi 66
While offering these service the division has developed capabilities to cater to multiple industry sectors including:
Significant milestones achieved by division:
New industries Catered in FY 2024-25
“Soil is not dirt. It is a living, breathing ecosystem that sustains all life.”- Dr.
Elaine Ingham 67
Growth Drivers for the division:
MITCON Skills and Training is a leading institution in the field of Entrepreneurship, Vocational Education, and Skill Development. With a dedicated team of experienced professionals, MITCON consistently designs and delivers industry-aligned training programs, ensuring that the curriculum is regularly updated to match the evolving needs of the job market. The focus of our programs is not only on imparting theoretical knowledge but also on practical skill-building that enhances employability and prepares learners for real- world challenges.
MITCON conducts various Entrepreneurship Development Programs (EDPs) sponsored by government bodies such as the Department of Industries, Government of Maharashtra; the Department of Science and Technology (DST), Government of India; and the Ministry of Food Processing Industries, Government of India. In addition, MITCON offers specialized technical training in emerging sectors through programs like the SURYA MITRA Solar Technician course and Electric Vehicle (EV) training, alongside fee-based vocational training programs catering to a wide audience.
These technology-enabled courses are designed to meet the specific demands of multiple industries and are accessible to learners of all age groups. MITCON offers flexible learning modes—online, offline, and hybrid—to accommodate diverse learning needs. The training methodology emphasizes a practical and project-based approach, ensuring that students gain hands-on experience throughout their learning journey.
MITCON is committed to empowering youth with skills that lead to meaningful employment and entrepreneurial success. The division not only delivers top-quality training but also actively supports students through placement assistance. Our efforts have been recognized through numerous awards and collaborations with reputed institutions and government departments, further validating our commitment to building a skilled and self-reliant nation.
MITCON’s key strengths include a team of expert trainers, modern infrastructure with state-of-the-art computer labs, industry-oriented course content, flexible class schedules, and an engaging, practical learning experience. With a focus on quality, relevance, and impact, MITCON Skills and Training continues to shape the future of India’s workforce.
SWOT Analysis
A SWOT analysis helps us assess our internal capabilities and external environment. It guides our strategic planning and helps ensure alignment with our mission of empowering communities through skill development and livelihood generation.
Strengths
"The web of life starts underground. Soil organisms are the unsung heroes
of biodiversity."- Prince Charles 68
Weaknesses
Opportunities
Threats
Our Business is engaged in the development, implementation, and management of renewable energy projects, with a particular emphasis on wind and solar energy. The range of services offered including project feasibility studies, site selection, design, engineering, procurement, construction, and commissioning of renewable energy systems.
“Beneath our feet lies a universe of life. Protecting soil means
protecting the planet’s biodiversity.”- Dr. Rattan Lal 69
“Healthy soil hosts more organisms in a teaspoon than there are people
on Earth.”-USDA NRCS (Natural Resources Conservation Service) 70
Over the past year, the team has delivered cutting-edge solutions at the intersection of agriculture, geospatial intelligence, and digital technology. Leveraging modern frontend technologies like React.js, Tailwind CSS, and Framer Motion, we built responsive, role-specific web applications that improved operational workflows for field officers, managers, and farmers. These platforms integrated real-time features such as task tracking, calendar views, and status dashboards, significantly enhancing coordination and decision-making.
On the geospatial and satellite intelligence front, we processed over 30.8 million hectares of agricultural land every month across Maharashtra, deploying AI-driven pipelines to extract insights from NDVI, NDWI, NDMI, and other vegetation indices. Through Earth Engine, Python, and FastAPI, we built scalable services for soil health monitoring, including pH, moisture, NPK, OC, and other critical field parameters. Our proprietary CropEye platform combined remote sensing, model predictions, and API infrastructure to deliver field-level intelligence at scale.
We successfully executed the Maharashtra Government’s Sugarcane Estimation project, monitoring all 36 Districts and delivering monthly data on cultivated areas, brix value trends, yield forecasts, and recovery rates. These AI-powered dashboards supported policy-making and subsidy distribution. Internationally, we conducted a 20,000+ hectare topographic and land assessment project in Tanzania, delivering 3D terrain models, watershed and drainage mapping, soil fertility analysis, and land use classification to guide sustainable agri-infrastructure development.
In insurance validation, we audited over 3,000 horticulture plots using high-resolution satellite imagery to detect false claims, duplicate entries, and insured-yet-uncultivated lands. This ensured transparency and optimized public fund disbursement. A biofuel crop census for Samsung India involved mapping targeted regions for Napier grass and estimating precise acreage to streamline their sustainable sourcing and compliance roadmap.
On the climate modeling side, we developed a five-year ARIMA-based forecasting model and a seven-day
"Preserving soil is not just about farming; its about keeping Earth’s
biodiversity alive."- Kofi Annan 71
regression-based forecast, both integrated via FastAPI for external access. A multilingual agri-advisory assistant powered by large language models was piloted, providing contextual insights by combining satellite and weather data. AI/ML models were trained, tuned, and deployed via Jupyter, Google Colab, and Power BI Services to support field intelligence, infrastructure analytics, and real-time dashboards for stakeholders.
Overall, our efforts delivered four major government and corporate projects, processed over 20 thematic geospatial data layers, and impacted multiple stakeholders including government departments, farming communities, and corporate partners. Looking ahead, we aim to enhance our UI/UX systems with advanced visual libraries like Recharts and D3.js, build PWA-ready applications, implement end-to-end deep learning workflows using UNet and CNNs for high-resolution classification, and scale AutoML-based model tuning pipelines.
Planeteye Infra AI has successfully delivered nationwide infrastructure monitoring, covering over 1,500 km of roadways and more than 2,100 bridges and structures. This has been achieved through the integration of cutting-edge satellite, LiDAR, and AI-powered technologies.
The company has developed a comprehensive asset management platform that centralizes data on road and bridge conditions, including surface distress, traffic patterns, accident history, and pavement health. This enables intelligent, centralized decision-making for stakeholders.
Advanced structural assessments using LiDAR and continuous monitoring with Synthetic Aperture Radar (SAR) have ensured high-precision tracking of infrastructure health. These tools support proactive maintenance by detecting early signs of degradation.
Planeteye’s proprietary AI models detect over 15 types of road and bridge defects, including potholes, cracks, corrosion, and joint failures, with an impressive accuracy rate of over 92%. This technological edge enhances diagnostic efficiency and repair prioritization.
The company has streamlined inspection workflows, reducing manual labor by 40–60% and cutting report generation times by 65%. This allows for near real-time insights that significantly aid infrastructure management and planning.
Over 616 municipal roads have been digitally mapped and audited, with detailed data collected on dimensions, surface materials, footpaths, medians, utilities, signage, and pedestrian elements, supporting smarter urban infrastructure upgrades.
Planeteye’s predictive maintenance capabilities have led to an 80% reduction in emergency interventions and optimized lifecycle costs by shifting to data-driven, condition-based strategies.
Using LiDAR data, the company has developed 3D digital twins of bridge assets to support long-term investment planning, lifecycle modeling, and resilience simulations.
Collaborations with national highway authorities, public works departments, and smart city planners have enabled scalable deployment of monitoring systems across diverse environments.
Edge AI and mobile-based data capture tools have been introduced for real-time, field-level assessments,
Soil is the source of life and a limited resource; it must be safeguarded-
Rattan Lal 72
reducing the need for centralized processing and enhancing responsiveness.
As part of national infrastructure digitization efforts, Planeteye Infra has contributed to creating digital road inventories and supporting public infrastructure monitoring at scale.
Strategic partnerships have been formed to strengthen India’s infrastructure intelligence ecosystem, with Planeteye aiming to be the premier provider of digital infrastructure monitoring across both public and private sectors.
Our infrastructure team helps Private and Government Clients with following services for transportation, water and buildings/facility (urban infra) segments
Our Trustee team provides following services in financial markets -
Risks and Opportunities:
Our approach to Risk management is well entrenched in our Management System which is monitored internally and externally by well qualified personnel and third party agencies. As a part of Quality Management System, each of the business division, support functions and company as whole continually assesses risks and opportunities through a well laid out bottom-up framework as under –
Soils hold more carbon than all the world’s forests combined —IPCC 73
“Biodiversity begins in the soil — without it, nothing above the
ground can thrive.”- Vandana Shiva 74
Weaknesses
Opportunities
Threats
“Saving soil is not an environmental issue. It’s a survival issue.” – Sadhguru 75
Risks and Opportunities emanating from SWOT, Context Matrix and Need & Expectation of Interested Parties are listed and Risk Priority Numbers (RPN) is assigned to each of the Risk. The strategic plan is laid out to manage risks as also for utilization of opportunities. Our success depends on our ability to identify and leverage the opportunities generated by our business and the markets we operate in. Our assessment of risk considers short and long term as well as internal and external risks, including financial, operational, sectoral, sustainability (particularly Environmental, Social and Governance related risks), information, cyber security, legal and compliance, and any other risks as may be determined by the business and function heads.
Management Review Committee is responsible for implementation of Risk and Opportunity framework as detailed above. The Board of Directors reviews compliance of all Code of Business Principles (Code) and Code Policies as detailed on our website.
The following are key risks we have identified which we currently regard as the most relevant to our business. We continually review our risk areas and the business/functional heads are responsible for determining the nature and extent of significant risks and drawing out management plans.
Our success depends on the brand which stands for delivering value and approachable expertise to our clients and on our ability to continually offer future-fit solutions while remaining competitive. Rapid pace of technological changes across our business segments along with competitive intensity due to entry of new players would requires us to continually invest in our people to retain our brand value as approachable expertise and ability to innovate.
Management of Risk: Through our processes, we ensure that each team member is evaluated for parameters other than financial parameters such as customer centricity, process adherence and improvement, learning and development.
“In every crumb of fertile soil lies the legacy of millennia.” – Dr. Jessica 76
Our business segments help clients with new age, future-fit solutions alongside compliance and reporting related outputs in emerging areas. This requires us to have talent pool which is up-to-second and infrastructure that offers clients cutting edge abilities like use of earth observations (satellite and drones), seamless digital platforms for managing workflows, AI/ML integration. Our inability to continually renew ourselves could strain our longstanding relationship with our customers and our reputation and brand image may suffer, which in turn may adversely affect our business.
Management of Risk:
We have operating framework that streamlines learning and development of talent pool through reviewable processes. Further, business and functional heads continually assess talent/skill gaps in current pool and bridge the same. Each service offering is assessed for possibility of use of technology and plans are put in place to integrate.
Ever changing regulatory landscape, related to electricity act, environmental laws, direct/ indirect taxes, data privacy, corporate governance, LODR, Certification bodies such as QCI NABL, labour laws, among others, besides increasing cost of compliance, may lead to adverse impact on growth and profitability and increased exposure to litigations with possible consequences for our corporate reputation.
Risk Management: We are committed to compliance with the laws and. The business and functional heads are responsible for ensuring that all employees are aware of and comply with regulations and laws relevant to their roles. Our compliance and legal team monitors and reviews our processes to provide reasonable assurance.
Uncertain of macro-economic outlook along with adverse geopolitical conditions could adversely affect our business and operations. A large part of business segments depends on new capex by private corporations and government, which would be affected by uncertainties around macro-economics and geopolitics. Also, such events would lead to pushing further of climate agenda, which would affect our growth plans.
Risk Management: Based on our assessment of relevant macro and geopolitical conditions, we continually fine tune our activities and service portfolio. We have over 40 years of exposure to such market conditions which helps us in operating and developing of our business successfully during periods of economic and political instability.
Climate change and governmental actions to reduce such changes may disrupt our clients operations. Climate change may impact our business in various ways through increased costs or reduced growth and profitability. Increased frequency of extreme weather events such as high temperatures, hurricanes, or floods could cause increased incidence of disruption to our supply chain, manufacturing, and distribution network. Market risks associated with the energy transition and rising energy prices could disrupt our capex plans of our clients.
Risk Management: We have continued to re-align our services to make them climate change proof by including services that are aligned to management of climate risks for our clients. We continue to add green services to our services across our portfolio.
“Our footprints on the soil determine our footprint on the planet.” – Dr. David 77
“Take care of the land and the land will take care of you.”-
HughHammond Bennett 78
Our operations are increasingly dependent on IT systems and the management of information. The cyber- attack threat of unauthorised access and misuse of sensitive information or disruption to operations continues to increase. Such an attack could inhibit our business operations thereby impacting our results. Accelerated pace of digitisation of our operations also gives rise to the need to detect and mitigate risks arising from technological advancements such as deployment of Al, Machine Learning.
Risk Management: We continually upgrade our IT infrastructure and available expertise to take care of such disruptions. We have put in place robust and reviewable process for prevention of breach and minimization of damage in the event of breach. We have also ensured business continuity through necessary system redundancies.
Opportunities
Domain expertise in new-age segments such as decarburization, renewable energy, energy storage, bio- economy, green chemistry, green hydrogen, environment management, satellite for monitoring of agri and infra, carbon footprint, LCA, Net Zero Strategies, Nature Based Carbon project development, helps us benefit from millennial theme of energy transition. We will continue to commit resources towards high growth segments in climate space. We have a strong pipeline of relevant innovations in energy transition and bio economy space.
Unprecedented pace of climate change related investments due to multi-stakeholder pressures are fueling demand for our services. We will continue to develop most relevant services and solutions for our clients to make their businesses sustainable and compliant.
Annual global investment in energy transition technologies rose to nearly $2.1 trillion in 2024. To achieve net zero targets (legal or policy commitments) by major economies will lead to multifold increase in energy transition related investments from current USD 2.1 trillion in 2024. Global energy transition investment is likely to average $5.60 trillion per year between 2025 and 2030. In the 2030s, investment is likely to be
$7.60 trillion per year during 2031 and 2035 .
Technological convergence is leading to tectonic macroeconomic shifts more impactful than the first and second industrial revolutions. Rapidly emerging digital technologies, analytics, and big data in energy, mobility, carbon mapping, earth observations gives us opportunities to develop capabilities across our domains to respond to our clients evolving needs thereby making us resilient. We continue to explore every aspect of our business model for making tech intervention.
Highlights for FY2025:
“Soil doesn’t belong to us; we belong to the soil.” – Indigenous 79
biodiversity with action plans on improving in next 5,10,15 years and evaluation of risk and dependencies on nature capital
Highlights of Milestone achieved by MITCON’s Material Subsidiary:
| Sr. No. | Project Name | Client | Cost (In Rs.) |
| 1 | Project Management Services for Quality Monitoring Agency (QMA- 3 & 4) for City Roads in Mumbai (Pkg. 3 & Pkg 4) | MCGM | INR 750 (Crores) |
| 2 | Consultancy services for Authority’s Engineer for Supervision of following greenfield Projects: (i) Construction of 2/4 Lane with paved shoulder of Shillong Western Bypass starting from near Ladumsaw (Existing km 60,900 of NH-40) to NH- 106 (OLD NH-44E), km 0+000 TO 12+800 (Package-I) under SARDP-NE ‘PHASE A’ in the State of Meghalaya on EPC Mode. | NHIDCL | INR 510 (Crores) |
| 3 | Detailed Design & Engineering Services for Two- Lane Bridge across Agardanda Creek with Approaches connecting Tokekhar Tq. Murud and Turumbadi Tq. Mhasala in Raigad District on Revas-Redi Coastal Highway (MSH-04) in the State of Maharashtra on EPC Mode (in JV with DM EngineeringCo. Ltd.) | HCC | INR 700 (Crores) |
| 4 | Design, Development, Supply, Installation, Testing and commissioning of Bridge Management System (BMS) for Round – I Projets of NHIT Western projects Pvt. Ltd. (NWPPL) for NHIT | NHIT | INR 600 (Crores) |
“Compost is proof that rot brings renewal.” – Charles Eisenstein 80
| Sr. No. | Project Name | Client | Cost (In Rs.) |
| 5 | Appointment of Special Third-Party Independent Techno-Financial Auditors in Punjab (All 23 Districts Geographical Spread) | Punjab Infrastructure Development Board | INR 1500 (Crores) |
| 6 | Appointment of Independent Engineer for Operation and Maintenance of Thiruvananthapuram and Kozhikode City Road Improvement Project for Kerala Road Fund Board | Kerala Road Fund Board | INR 200 (Crores) |
| 7 | Empanelment of eligible consultants / Firms for undertaking consultancy services for Feasibility Study Report (FSR)/ Detailed Project Report (DPR) / Detailed Design Consultancy (DDC) for the Railway Projects, Roads & Highway Projects and Ropeway Projects including ROB for 3 years. | Indian Port Rail & Ropeway Corporation Limited (IPRCL) | -- |
| 8 | Empanelment of Third-Party Inspection and Monitoring Agencies for Quality Assurance in Haryana in Engineering works implemented by the State Government for 3 years | Quality Assurance Authority, Govt. of India | -- |
Business Outlook 2025
Our business segments continue to align with national and international priorities, focusing on sustainable development and climate resilience. The key themes driving our portfolio in 2025 are:
These segments are strategically positioned to address the interplay of regulatory, technological, and environmental factors, ensuring agility in achieving Net Zero goals.
“You can’t grow a healthy nation on unhealthy soil.” – Dr. Hans 81
“Soil is not dirt. It is a living, breathing ecosystem that sustains all life.”- Dr. Elaine Ingham 82
Macroeconomic Context
The Indian economy is projected to grow at 6.5–7% in FY2025, as per the Economic Survey 2023–24, maintaining its position as the fastest-growing G20 economy. This growth is driven by robust government capital expenditure, estimated at INR11.11 lakh crore (3.4% of GDP) in the 2024-25 budget, with a focus on infrastructure sectors like roads, railways, and telecommunications. These investments address logistical bottlenecks and enhance productive capacity, fostering economic resilience in a volatile global environment. The IMF’s October 2024 World Economic Outlook reaffirms India’s growth at 6.8%, underpinned by strong domestic demand and a growing working-age population.
Energy Transition India
India’s commitment to sustainability is evident in its National Action Plan on Climate Change (NAPCC) and
updated Nationally Determined Contributions (NDCs). By September 2024, non-fossil sources accounted for 46.2% of installed electricity generation capacity, up from 45.4% in May 2024, with cumulative solar capacity reaching 87.5 GW. The target remains 500 GW of renewable energy by 2030. The Perform Achieve and Trade (PAT) scheme’s ninth cycle, launched in 2024, targets 0.4 MTOE in energy savings across industries like cement, steel, and textiles.
The PM-Surya Ghar Yojana is on track to add 30 GW of solar capacity by 2026, reducing 720 million tonnes of CO2 equivalent. The Green Hydrogen Mission is progressing, with tenders awarded for 4.5 lakh tons of green hydrogen production capacity under the SIGHT scheme. Offshore wind energy is gaining traction, with viability gap funding allocated for 1.5 GW of initial capacity. India’s energy demand is projected to double by 2047, necessitating a balanced transition to non-fossil sources, enhanced energy efficiency, and innovations like green hydrogen, small modular reactors, and energy storage.
To meet the 45% emissions intensity reduction target by 2030 (from 2005 levels), India must limit absolute emissions to approximately 4,600 MtCO2e, requiring a reduction of 3,800 MtCO2e from baseline projections. Energy efficiency in buildings, which will account for 40% of electricity consumption by 2031-32, remains critical, given 50% of the 2030 building stock is yet to be constructed.
Global
“Investing in soil health is investing in national food security.” – Dr. Prem Bindra 83
between the current and required investment figures until 2030. Spending for the sector needs to quadruple to hit $3 trillion per year over the rest of this decade, making up 54% of the total figure.
3.6x scale-up from 2024 levels and 37% higher than the annual rate between 2025 and 2030. Electrified transport continues to dominate the total, while supply-side investment starts to dwindle. (Source: BNEF)
Bio-economy
The BioE3 Policy, launched in 2024, is accelerating India’s bio-economy through high-performance bio- manufacturing. It focuses on bio-based chemicals, biopolymers, smart proteins, precision bio-therapeutics, and climate-resilient agriculture. Bio-manufacturing and Bio-AI hubs are being established to drive innovation and commercialization. The policy supports carbon capture and utilization, addressing hard-to-abate sectors. India’s biofuels sector is expanding, with compressed biogas and ethanol blending targets advancing under the National Biofuel Policy.
Agriculture
The Digital Agriculture Mission 2021–2025 is transforming India’s agricultural landscape through AI, drones, and remote sensing. The Agri Stack and Krishi Decision Support System (Krishi-DSS) provide farmer-centric digital solutions, including Farmer IDs and geo-tagged farm data. The 2024-25 budget emphasizes natural farming, targeting 1 crore farmers by 2027, supported by 10,000 bio-input resource centers. Climate adaptation remains critical, with initiatives like the Pradhan Mantri Krishi Sinchayee Yojana and NICRA enhancing resilience against climate vulnerabilities.
Infrastructure Development
The 2024-25 budget allocated INR 11.11 lakh crore for infrastructure, focusing on roads, railways, housing, and water. The National Industrial Corridor Development Programme’s 12 new industrial nodes, with an investment of INR 28,602 crore, will boost manufacturing and economic growth across 10 states. Transit- oriented development (ToD) plans for 14 cities will leverage transport infrastructure to drive urban-industrial synergies, reducing pressure on megacities and fostering growth in Tier 2 and Tier 3 cities.
Climate Change Compliance & Carbon Credits
The Carbon Credit Trading Scheme (CCTS), notified in 2023, is transitioning Designated Consumers from the PAT scheme to entity-wise GHG emission intensity targets by 2030. The Indian Carbon Market is incentivizing low-emission technologies and integrating climate considerations into corporate strategies. Demand for ESG reporting, carbon footprint disclosures, and Net Zero plans is rising, with our expertise in GHG emissions assessment (Scope 1, 2, and 3), life cycle assessment, and biodiversity impact assessment meeting client needs.
Skill Development
The government’s 2024-25 skilling initiatives aim to train 20 lakh youth over five years, aligning with sustainability and green technology demands. Our programs focus on upskilling for renewable energy, bio- manufacturing, and climate-compliant technologies, ensuring a future-ready workforce.
Earth Observations
Leveraging advanced earth observation technologies, we support agriculture and infrastructure through real-
“In nature, nothing is wasted. Even fallen leaves enrich the soil.” – Rachel 84
time monitoring. The Krishi-DSS integrates geospatial and non-geospatial data to enhance crop planning, resource management, and climate resilience, aligning with national priorities for sustainable development.
Strategic Outlook
Entering our fifth decade, we remain committed to being socially relevant, purpose-driven, and expertly approachable. Our future-ready portfolio is poised to capitalize on India’s economic growth, global energy transition trends, and climate priorities. By aligning with national policies like NAPCC, BioE3, and CCTS, and leveraging digital and sustainable innovations, we aim to drive impactful solutions for a resilient, Net Zero future.
Discussion on Financial Performance with respect to operational performance
Financial Year 2025 Year Over Year Highlights – Consolidated
Significant Factors Affecting our Business, Financial Condition and Results of Operations
“To restore soil is to restore life—human, animal, and plant.” – UN FAO 85
For all things come from Earth, and all things end by becoming Earth-
Xenophanes, 580 B.C. 86
Internal Control Systems and their adequacy:
The Company has implemented a robust internal control system designed to ensure the accuracy and reliability of financial and operational records, which form the basis for the preparation of financial Statement and asset accountability. This system provides reasonable assurance that the Companys assets are adequately safeguarded against unauthorized use or disposition, and that all transactions are properly authorized, documented, and reported in a timely manner.
The adequacy and effectiveness of these internal controls are periodically reviewed by the management. Further, the CEO and CFO certification, as presented in the relevant section of this Integrated Annual Report, affirms the soundness of the Company’s internal control systems and procedures.
Human resources management:
At MITCON, Human Resource Management plays a pivotal role in supporting the Company’s mission and long- term success. Consistent with the Company’s core philosophy, we recognize human capital as our most valuable asset. Our efforts are directed toward cultivating a high-performance culture marked by operational efficiency, innovation, and continuous talent development.
As we navigate a rapidly evolving global landscape, we are committed to nurturing an inclusive, purpose-driven workplace. We strive to engage our employees through meaningful work and collaborative, high-energy teams, enabling them to realize their full potential and contribute to a larger purpose.
We believe that talent transformation begins by listening to our employees and responding with a compelling value proposition that delivers purpose, growth, and value. By doing so, MITCON positions itself as an employer of choice and meets the evolving expectations of its workforce.
Internal Complaints Committee:
MITCON is committed to fostering a safe, respectful, and inclusive work environment where all employees are empowered to contribute effectively, regardless of gender, sexual orientation, or any other characteristic unrelated to job performance.
In compliance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, the Company has established an Internal Complaints Committee (ICC) to address and resolve complaints of sexual harassment. The ICC includes external members with relevant experience, and is chaired by a senior woman employee, in accordance with statutory requirements. At least 50% of the Committee’s members are women.
Details regarding the number of sexual harassment complaints filed, resolved, and pending during the financial year are disclosed in the Business Responsibility and Sustainability Report section of this Integrated Annual Report.
“Soil is the original source of all wealth.” – Dr. Liberty Hyde Bailey 87
Details of significant changes (25% or more) in key financial ratios along with detailed explanation for such change as compared to the previous financial year (Standalone):
| Ratio | As at 31 Mar 2025 | As at 31 Mar 2024 | Change % | Remarks |
| Debtors Turnover | 2.34 | 3.88 | -39.77% | Sales for the year FY 2024-25 INR 5,119.62 Lakhs (Previous year FY 2023-24 INR 7,005.45 Lakhs) & Average trade receivable in FY 2024- 25 INR 2,188.69 Lakhs (Previous year FY 2023- 24 INR 1,803.91 Lakhs). Decrease in trade receivable turnover ratio is due to decrease in sales during the FY 2024-25. |
| Inventory Turnover | 4.40 | 37.98 | -88.40% | Cost of goods sold for the year FY 2024-25 INR 434.01 Lakhs (Previous year FY 2023-24 INR 2,456.94 Lakhs) & Average inventory in FY 2024- 25 INR 98.54 Lakhs (Previous year FY 2023-24 INR 64.70 Lakhs). Decrease in inventory turnover ratio is due to decrease in cost of goods sold and increase in average inventory during the FY 2024-25. |
| Creditors Turnover | 2.85 | 5.39 | -47.18% | Cost of purchase and other expenses for the year FY 2024-25 INR 2,281.55 Lakhs (Previous year FY 2023-24 INR 4,233.98 Lakhs) & Average trade payable in FY 2024-25 INR 801.37 Lakhs (Previous year FY 2023-24 INR 800.12 Lakhs). Decrease in trade payable turnover ratio is due to decrease in cost of purchase and other expenses during the FY 2024-25. |
| Return on equity ratio | 4.30 | 6.66 | -35.50% | Profit for the year FY 2024-25 INR 533.64 Lakhs (Previous year FY 2023-24 INR 758.44 Lakhs) & Average total equity in FY 2024-25 INR 12,423.86 Lakhs (Previous year FY 2023-24 INR 11,388.26 Lakhs). Decrease in ROE is due to decrease in profit for the FY 2024-25. |
| Return on Investments% | 2.02 | 1.59 | 27.04% | Income generated from invested fund in the year FY 2024-25 INR 167.34 Lakhs (Previous year FY 2023-24 INR 129.01 Lakhs) & Average invested fund in FY 2024-25 INR 8,289.88 Lakhs (Previous year FY 2023-24 INR 8,118.94 Lakhs). Increase in return on investment ratio is due to increase in income generated from invested fund during the FY 2024-25. |
Details of any Change in Return on Net worth as compared to the immediately previous financial year along with a detailed explanation thereof (Standalone):
Return on net worth for the year is 4.08% (previous year 6.44%). There is improvement in operational efficiency and growth in core business activity.
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