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. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. General Staffing (92%), Specialised Staffing (6%), Other HR Services (2%). Asset-light, labour-arbitrage staffing business with thin margins and a high pass-through cost base.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6,480 | 7,870 | 9,322 | 11,156 | 11,791 |
| EBITDA (ex other income) | 71 | 120 | 134 | 138 | 151 |
| margin % | 1.1 | 1.5 | 1.4 | 1.2 | 1.3 |
| Owners' profit | 38 | 111 | 112 | 109 | 140 |
| EPS, as reported (₹) | 22.48 | 65.12 | 66.65 | 64.86 | 83.30 |
| ROE % · ROCE % | 5.6 · 5.8 | 13.6 · 11.9 | 13.9 · 12.8 | 12.0 · 11.6 | 13.3 · 11.0 |
| Debt / equity (x) | 0.04 | 0.02 | 0.13 | 0.05 | 0.03 |
| Cash from operations | (6) | 126 | 118 | 104 | 302 |
| Capex | (6) | (6) | (7) | (31) | (29) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,797 | 2,921 | 2,858 | 2,891 | 3,032 | 3,013 | 2,925 | 3,035 |
| Profit before tax | 26 | 29 | 40 | 26 | 29 | 43 | 51 | 36 |
| Net profit | 25 | 28 | 38 | 25 | 28 | 42 | 46 | 34 |
| EPS (₹) | 14.66 | 16.95 | 20.85 | 15.83 | 16.41 | 24.88 | 26.18 | 20.79 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| General Staffing | 10,880 | 91.7 |
| Specialised Staffing | 740 | 6.2 |
| Other HR Services | 242 | 2.0 |
| Total, before eliminations | 11,861 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 13,611 | 22.3 | 9.15 | 13.1 | 47.8 | 58.1 | — | 64.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · TLSU EPFO appeal hearing in Gujarat HC adjourned to Sep 22 | regulatory legal | medium | — | — |
| 31 Aug 2026 · Karnataka HC hearing on GST penalty writ petition rescheduled to Oct 27, 2026 | regulatory legal | medium | — | — |
| 26 Aug 2026 · TeamLease 26th AGM notice and annual report for FY 2025-26 circulated | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · TeamLease dispatches 26th AGM notice and FY26 annual report to shareholders | board shareholder meetings | low | — | — |
| 25 Aug 2026 · TeamLease CFO to meet institutional investors on Sept 1 at Elara India Dialogue | board shareholder meetings | low | — | — |
| 25 Aug 2026 · TeamLease board approves ESOS 2026 with 2,56,450 shares pool | board shareholder meetings | medium | — | — |
| 20 Aug 2026 · TeamLease exits Crystal HR JV, sells 30% stake for Rs 10.12 Cr | strategic transactions | medium | — | — |
| 20 Aug 2026 · TeamLease board to consider ESOP/RSU schemes for employees on Aug 25 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · TeamLease exits JV Crystal HR by selling 30% stake for Rs 10.12 crore | strategic transactions | high | — | — |
| 13 Aug 2026 · TeamLease signs exit agreement for full 30 percent Crystal HR stake | strategic transactions | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|
| WEWORK INDIA MANAGEMENT L |
| 9,297 |
| 106.7 |
| 31.07 |
| 5.9 |
| 25.0 |
| 1.0 |
| — |
| 66.5 |
| NESCO LTD. | 7,728 | 18.6 | 2.58 | 13.1 | 13.8 | 14.8 | 26.2 | 68.9 |
| INOX GREEN ENERGY SER LTD | 7,175 | 57.5 | 4.18 | 42.6 | 6.0 | 9.0 | — | 131.6 |
| SMARTWORKS COWORKING SP L | 6,079 | 218.0 | 11.45 | 5.1 | 2.0 | 0.3 | — | 65.8 |
| NIRLON LTD | 5,526 | 16.0 | 11.79 | — | 73.8 | 18.1 | — | 79.4 |
| QUESS CORP LIMITED | 5,174 | 20.4 | 4.43 | 15.6 | 19.0 | 14.4 | 7.1 | 2.6 |
| INDIQUBE SPACES LIMITED | 4,272 | — | 8.30 | — | (20.7) | (2.5) | — | 67.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.0 | 14.3 | 43 of 89 | 52% |
| P/B | 2.0 | 1.5 | 54 of 92 | 42% |
| ROCE | 10.1 | 3.2 | 29 of 105 | 73% |
| ROE | 13.3 | 3.1 | 24 of 116 | 80% |
| Debt / Equity | 0.0 | 0.0 | 59 of 116 | 50% |
| EBITDA margin | 1.8 | 25.4 | 74 of 92 | 20% |
| Revenue growth | 5.0 | 16.2 | 60 of 91 | 34% |
| Profit growth | 37.7 | 5.2 | 45 of 110 | 60% |
| Market cap | 2077 | 56 | 14 of 104 | 87% |
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
