Financial Performance Highlights

H2 FY26 Performance (₹ Lakhs):

  • Revenues: 12,591.65 (vs 9,846.92 in H2 FY25)
  • Total Income: 12,656.59 (vs 9,885.11 in H2 FY25), growth of 28.04% YoY
  • EBITDA: 486.89 (vs 374.85 in H2 FY25), growth of 29.89% YoY
  • PBT: 469.70 (vs 352.55 in H2 FY25), growth of 33.23% YoY
  • PAT: 432.20 (vs 167.79 in H2 FY25), growth of 157.58% YoY
  • Tax: 37.51 (vs 184.75 in H2 FY25)

Full Year FY26 Performance (₹ Lakhs):

  • Total Income: 28,363.06 (vs 23,525.76 in FY25)
  • EBITDA: 730.96 (vs 855.83 in FY25)
  • PBT Before Exceptional Items: 685.49 (vs 820.47 in FY25)
  • Exceptional Items: 653.60 (vs 0 in FY25)
  • PBT: 1,339.09 (vs 820.47 in FY25)
  • PAT: 979.86 (vs 750.29 in FY25)
  • Tax: 359.23 (vs 70.18 in FY25)

Balance Sheet Position (as of FY26 end, ₹ Lakhs)

Equity & Liabilities:

  • Equity: 721.11 (vs 2.16 in FY25)
  • Reserves: 3,030.07 (vs 1,813.12 in FY25)
  • Net Worth: 3,751.18 (vs 1,815.28 in FY25)
  • Total Non-Current Liabilities: 16.04 (vs 5.60 in FY25)
  • Total Current Liabilities: 2,197.13 (vs 1,774.07 in FY25)

Assets:

  • Fixed Assets: 77.35 (vs 91.72 in FY25)
  • Deferred Tax Assets: 25.93 (vs 9.16 in FY25)
  • Other Non-Current Assets: 40.60 (vs 476.80 in FY25)
  • Total Non-Current Assets: 143.88 (vs 577.68 in FY25)
  • Trade Receivables: 832.07 (vs 806.26 in FY25)
  • Cash & Bank Balance: 2,433.61 (vs 366.87 in FY25)
  • Short Term Loans & Advances: 440.37 (vs 416.69 in FY25)
  • Other Current Assets: 2,114.42 (vs 1,427.45 in FY25)
  • Total Current Assets: 5,820.47 (vs 3,017.27 in FY25)
  • Total Assets: 5,964.35 (vs 3,594.95 in FY25)

Business Operations Update

  • Maintained workforce deployment base of over 10,000 personnel across client locations
  • Operational footprint spans 15 states across India
  • Serves clients across e-commerce, quick commerce, logistics, manufacturing, and infrastructure sectors
  • Core service offerings include HR Outsourcing Solutions, Manpower Services, Payroll Management, Compliance Audit, Facility Management, and Staffing Solutions

Corporate Developments

  • Successfully completed IPO and listing on BSE SME platform in February 2026
  • Transitioned from private limited to public limited company in 2025
  • Company headquarters: Noida, Uttar Pradesh
  • Incorporated in December 2015

Management Commentary

Managing Director Rajeev Kumar stated that FY26 was an important year as the company strengthened its balance sheet, completed public listing, and enhanced operational efficiency. While revenue moderated due to contract repricing and billing-cycle adjustments, the company delivered strong profitability growth through disciplined cost management, productivity improvements, and organizational restructuring.

The successful IPO has provided strong liquidity position to support working capital expansion and accelerate transition towards the Pay & Collect model. The company remains focused on deepening relationships with existing clients while expanding into new sectors and geographies.

Growth Strategy & Future Roadmap

  • Transition to Pay & Collect model utilizing IPO proceeds for payroll funding
  • Geographic expansion beyond Delhi-NCR into Tier-II cities and key markets across South and West India
  • Sector diversification into Quick Commerce, FMCG Warehousing, Healthcare Support Services, and Green Logistics
  • Client acquisition and deepening relationships with existing customers
  • Expansion of higher-margin services including Payroll Outsourcing, Compliance Audit, and HR Consulting
  • Workforce scale-up to unlock operating leverage
  • Technology and process enhancement through automation and system upgrades
  • Talent pipeline development leveraging government initiatives like NAPS (National Apprenticeship Promotion Scheme)

Market Context

  • HR professional services market size reached $7.79 billion in 2025, expected to grow to $15.84 billion in 2030 at 15.4% CAGR
  • India's staffing industry benefits from increasing formalization of employment, rapid e-commerce and logistics growth
  • North America was largest region in 2025, Asia-Pacific is fastest growing region

Management Overview

  • Rajeev Kumar: Managing Director & CEO, founder with over a decade of experience in workforce management
  • Rajni Kumari: Whole-Time Director, oversees employee management and client servicing
  • Vivek Mishra: Non-Executive Director with experience in business management and corporate governance
  • Sheetal Sharma: Independent Director, qualified advocate with legal and regulatory expertise
  • Umesh Kumar Purbey: Independent Director, EHS and Fire Safety professional with leadership experience

Stock Information

  • BSE Code: PANHR | 544698
  • Share Price: ₹64.15
  • Market Capitalization: ₹46.26 Cr
  • Number of Shares: 72,11,058
  • Face Value: ₹10.00
  • 52-week High-Low: ₹85.50 – ₹43.00