MITCON Consultancy & Engineering Services Ltd is fundamentally a technical brain trust that helps other organisations build, run, and clean up their industrial and infrastructure projects. Formed in 1982 by a consortium of banks and state development corporations, it has spent over four decades evolving from a sugar-and-power consultancy into a multi-specialist that now tackles everything from decarbonisation strategies to satellite-based crop monitoring. The recurring approach is “Concept to Commissioning” - the company sells expertise, not products, by embedding engineers and analysts inside a client’s problem from the first feasibility sketch all the way to a working plant or a trained workforce. # Business segments Five engines at different stages - a technical advisory cash cow, two national-scale service platforms, a small renewable power portfolio, and a satellite-intelligence bet - each built on the same pool of engineering and analytical talent. ## 1. Business Advisory Services: the lender’s engineer and the project’s first reality check **Before any bank lends to a factory, a highway, or a solar-wafer plant, MITCON’s team runs the numbers to prove the project will work - that is the core of this business.** - **The bank’s independent brain** - it acts as a Lender’s Independent Engineer (LIE), vetting the technical and financial viability of a project so that banks can lend with confidence, and then stays on as a monitoring agency to watch the money being spent correctly. - **Techno-Economic Viability is the entry ticket** - the division writes the crucial TEV study that decides whether a project gets funded, covering everything from a first-of-its-kind open-cast coal mine to a 3 GW solar panel factory making wafers and modules. - **A sector-agnostic stamp** - the team has delivered reports across more than 30 industries, from shipbuilding and coal-bed methane to hospitals and smart meters, which means its revenue does not depend on any single sector’s cycle. - **Fixed-price, fixed-time contracts** - it works on a project-by-project basis with clear deadlines and fees, though some contracts are conditional on hitting performance milestones, aligning its income with client outcomes. ## 2. Consultancy and Training: the green transition’s architect and the workforce behind it **This segment combines two deeply linked services - telling industries how to decarbonise and then training the people who will install the solar panels and run the biofuel plants.** - **The renewable-energy architect** - since 1994, it has designed and engineered over 5,000 MWp of solar, wind, and hybrid projects, offering everything from soil investigation and single-line electrical diagrams to full turnkey EPC (engineering, procurement, and construction) management. - **The corporate carbon doctor** - a dedicated climate-change division measures a client’s entire environmental footprint, then writes the prescription: net-zero roadmaps, life-cycle assessments, carbon-credit project registration, and even compliance with Europe’s new carbon border tax (CBAM). - **A digital exchange for carbon** - in 2023, it launched an online platform, txnCO2.com, to register carbon-credit projects and let buyers and sellers discover prices transparently, turning a consulting service into a marketplace. - **The green workforce factory** - the training arm has certified more than 2.7 million people in skills like solar installation, EV maintenance, and CNC operation, with a 75% placement record, largely funded by government schemes and CSR budgets. ## 3. Project Services: the physical-world engineer for roads, bridges, and waste **When a government body builds a bridge or a city needs its waste managed, MITCON acts as the owner’s engineer - designing, supervising, and auditing the work.** - **The infrastructure watchdog** - through its subsidiary Shrikhande Consultants, it serves as the Independent Engineer or Authority Engineer on highways, metro stations, and bridges, making sure contractors build to specification on projects like a Rs 1,200-crore Mumbai road-quality programme. - **Empanelled with over 100 public bodies** - the division is pre-approved to work for national highway authorities, state road corporations, and municipal bodies, which gives it a steady pipeline of public-sector assignments without having to bid from scratch each time. - **The environmental gatekeeper** - a separate environment team runs a NABL-accredited lab testing 15,000 soil and 10,000 water samples, while also helping clients obtain the environmental clearances and pollution-board consents needed to legally start construction. - **From trash to treatment** - it designs and manages solid and liquid waste systems, covering municipal garbage collection, bio-mining of old landfills, and the engineering of effluent and sewage treatment plants. ## 4. Wind and Solar Power Generation: a small portfolio of steady, contracted electricity sales **The company owns a handful of solar parks and a single wind turbine that sell power under long-term agreements, providing a thin but predictable stream of electricity revenue.** - **A 10 MW solar park with locked-in customers** - at Kini in Solapur, a 10 MW park is split into units that sell power to private hospitals in Pune and Nagpur under 25-year PPAs (power purchase agreements), guaranteeing a fixed off-taker for decades. - **A legacy wind asset** - a 750 KW wind turbine in Kerala has been selling electricity to the state board since 2008 under a signed PPA, demonstrating the set-and-forget nature of these assets. - **Acquiring to grow** - in March 2026, it signed a deal to buy a 49% stake in two special-purpose vehicles set up to develop more solar capacity, signalling an intent to expand this portfolio through acquisition rather than just organic build-out. ## 5. Earth Observations: eyes in the sky for crops and concrete **Using satellites and AI, this division sells field-level intelligence - telling a sugar mill exactly how much cane is growing across Maharashtra or a highway authority which bridge bearing is cracking.** - **A digital crop surveyor for an entire state** - its CropEye platform processes over 30.8 million hectares of farmland every month and runs the Maharashtra government’s official sugarcane estimate, delivering data on acreage, yield forecasts, and sugar recovery rates for all 36 districts. - **The insurance fraud detector** - it has audited over 3,000 horticulture plots with high-resolution satellite images to catch false crop-insurance claims, duplicate entries, and land that was insured but never planted. - **The bridge-and-road inspector** - the Planeteye Infra AI platform monitors over 1,500 km of roadways and 2,100 bridges, using AI models that spot more than 15 types of defects - potholes, cracks, corrosion - with over 92% accuracy, cutting manual inspection labour by up to 60%. # Group structure and partners **The group is a web of majority-owned subsidiaries, each built as a dedicated vehicle for a specific specialism - solar power, trusteeship, infrastructure engineering, or satellite monitoring - with the listed parent holding the core consultancy.** - **The parent as the anchor** - MITCON Consultancy & Engineering Services Ltd sits at the centre, directly owning the advisory and environment businesses as subsidiaries, while pushing capital-intensive or regulated activities into subsidiaries. - **Solar assets sit in a wholly owned chain** - MITCON Sun Power Limited is the 100% subsidiary that holds the solar parks, and it in turn owns a chain of SPVs (special-purpose vehicles) like MSPL Unit 1 through 7, each ring-fencing a specific power project and its PPA. - **Trusteeship is a separately housed regulated business** - MITCON Credentia Trusteeship Services Limited (55.45% owned) acts as a debenture trustee and AIF trustee, working with 15% of India’s unicorns and the top five alternative-investment platforms, and has expanded into Gujarat’s GIFT City for fund services. - **Infrastructure engineering runs through a 51% subsidiary** - Shrikhande Consultants Limited delivers the roads, bridges, and metro supervision work, and is empanelled with over 100 public-sector entities across India and expanding into SAARC and Southeast Asia. - **Satellite intelligence was restructured for focus** - in February 2024, the entire satellite monitoring business was moved into MITCON Sun Power Limited from M/s MITCON Nature Based Solutions Limited, JV Company, so that the PlanetEye platforms now sit under the wholly owned solar subsidiary, consolidating tech and power assets under one chain.