TEAMLEASE SERVICES LTD.

Provides staffing and HR services in India, earning primarily by deploying associates on client payrolls and charging a markup over their wages. General Staffing is the core, contributing 92.3% of FY26 segment revenue at ₹10,879.59 crore, with a thin 1.0% EBIT margin. Specialised Staffing, 5.7% of revenue at ₹669.38 crore, places higher-skill roles (IT, AI/data, cloud, cybersecurity) into Global Capability Centres (GCCs) and earns a 7.1% EBIT margin. Other HR Services (2.0%, ₹241.70 crore) covers Degree Apprenticeship, EdTech and RegTech; EdTech recorded 42 new university signings and RegTech reached INR 3.6 crore of monthly recurring revenue. Employee cost is the dominant input at 95.2% of revenue, reflecting the labour-arbitrage model. Q4 FY26 closed with about 2.87 lakh associates in General Staffing and 7,500 in Specialised Staffing, after recovering from the in-sourcing of roughly 20,000 NBFC associates to a client's own payroll. The business is working on a mix shift toward variable-markup pricing, which covered about 70% of new mandates, and on growing the higher-margin Specialised Staffing and Degree Apprenticeship lines.