Innovision Ltd Secures ₹1.5 Crore Annual Manpower Contract

Innovision Limited announced it has received a Letter of Award (LoA) from the Office of the Municipal Corporation Khandwa for a manpower supply contract.

The contract, valued at ₹1.50 crore annually, covers the outsourcing of highly skilled, skilled, semi-skilled, and unskilled workers for a year.

The LoA was issued on April 25, 2026, and received by the company on April 27, 2026.

Why This Contract Matters

This new order is expected to establish a consistent annual revenue stream for Innovision Limited.

It also marks a significant expansion into securing business from municipal government bodies, diversifying the company's client portfolio.

Company Background and Strategy

Established in 2007, Innovision Limited operates across India's business services sector, focusing on manpower services, toll plaza management, and skill development training. Its offerings range from private security to integrated facility management and sourcing workers.

This contract aligns with Innovision's strategy to grow recurring revenue and diversify its client base, following a recent ₹3.01 crore manpower supply contract from MP East Zone Electricity Distribution Company.

Risks to Watch

While the new contract is a positive development, Innovision faces ongoing scrutiny from past regulatory issues. These include a debarment order from the National Highways Authority of India (NHAI) in July 2025, which is currently stayed by the Delhi High Court. The company is also contesting a ₹20.98 crore GST demand order for taxes and penalties. Such issues could affect investor sentiment and future opportunities.

Peer Comparison

Innovision operates in a competitive market alongside major listed players such as TeamLease Services Ltd, Quess Corp, ManpowerGroup India, and SIS Ltd. While these companies manage substantially larger operations and contract values, Innovision's ability to secure business from diverse government entities, including this municipal contract, demonstrates its reach.

Key Financials

Innovision Limited's revenue reached ₹896 crore in FY25. As of April 28, 2026, the company's market capitalization stood at ₹777 crore.

What to Track Next

Investors will likely watch for details on the official commencement date and operational rollout of the manpower services.

Future announcements regarding renewals or extensions of this municipal contract, as well as new wins from similar government bodies, will be important.

Updates on the resolution of the ongoing GST demand order challenge are also key.