TeamLease: Transcript of Q4''FY26 Earnings Call
TEAMLEASE · price
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TeamLease reported Q4 FY26 revenue of INR 2,925 crores with EBITDA growth of 8% sequentially and 14% for full year. PBT grew 30% YoY and PAT grew 22% YoY, delivering INR 83 EPS (28% higher than prior year). The company faced headwinds from NBFC client in-sourcing (about 20,000 associates moved to client's payroll), but underlying business added 14,000 associates. General staffing closed at 2.87 lakh associates with PAPM improving to INR 689 from INR 669 in Q1. The Board approved a buyback of up to 25% of free reserves at INR 1,600 per share, with INR 600 crores in net free cash. New CEO Suparna Mitra outlined focus on profitable growth, higher-margin businesses (Specialised Staffing, Degree Apprenticeship), and operating leverage. FY27 outlook targets over 20% EBITDA growth with positive headcount expected by H1.
Strong profit growth despite revenue softness demonstrates operating leverage. The INR 600 crore cash position and buyback signal confidence in undervaluation. Planned exits of low-margin mandates should support margin expansion while management targets over 20% EBITDA growth for FY27.