Headcount of 482,214 as of June 30, 2026, a growth of 4.5% YoY and 0.8% QoQ.
Monthly onboarding of ~50,000+ gross adds.
Active clients: ~2,300+ with ~30% having a 5+ year tenure.
Key drivers: 86 new contracts added in General Staffing; Technology investments for recruiter productivity improvement.
Segment-wise Performance
General Staffing: Revenue ₹3,596 Cr (86% of total), growth of 15% YoY and 8% QoQ; EBITDA ₹51 Cr, growth of 12% YoY; Headcount 469,000.
Professional Staffing: Revenue ₹252 Cr (6% of total), growth of 3% YoY and 9% QoQ; EBITDA ₹28 Cr, growth of 12% YoY; Headcount 7,129; GCC contributing 71% of headcount and 68% of revenue.
Overseas Business: Revenue ₹333 Cr (8% of total), growth of 17% YoY and 0.2% QoQ; EBITDA ₹21 Cr, growth of 17% YoY; Headcount 5,544; 37 new logos added.
Explanation: Growth in General Staffing driven by a one-time impact of the new Labor Code; Professional Staffing growth supported by GCC focus; Overseas growth led by expansion in APAC and Middle East.
Drivers: One-time revenue increase of ₹176 Cr due to new Labor Code; Higher other income of ₹26 Cr due to income tax refunds of ₹261 Cr.
Key Risks: Challenging market environment noted in General Staffing; Currency fluctuations in Overseas Business.
Geographical Revenue Split
Domestic vs Export: Not explicitly split. Operations span India and international markets (APAC, Middle East).
Regional Breakdown: Overseas operations in Singapore, Malaysia, Philippines, Vietnam, Sri Lanka, Dubai, and Abu-Dhabi.
Balance Sheet Snapshot
Net Debt/Equity: Zero debt as of June 30, 2026.
Financial Health Insights: Net-cash balance sheet; healthy operating cash flow.
Capex & Cash Flow Health
Capital Expenditure: Not specified.
Free Cash Flow: Not specified.
Operating Cash Flow: Not specified.
Net Debt Movement: Zero debt position maintained.
Investment Rationale: Technology investments for productivity; Focus on capital-light global corridors.
Strategic & R&D Initiatives
Investments in Innovation: Proprietary AI technology for recruiting; Tech-enabled digital platforms (Blue-Collar Job & HRMS Platform, On-demand Gig Platform).
Expected impact: AI to lift productivity and cut cost-to-serve; Global corridors aim to shift ~20-25% of revenue to dollar-linked within 3-4 years.
Strategic Rationale: Pivoting to higher-margin, skill-based, dollar-linked business through global talent corridors (Japan, Europe Nordics, Israel, North America).
Industry Trends & Business Environment
Macro/Industry Trends: India is the most exciting staffing market globally; Structural talent shortages globally.
Impact on Company: Enables two-way corridor model (Indian talent out, inbound GCC work in).
Management Commentary & Growth Outlook
Strategic Outlook: Targeting to be world's largest staffing company with 1Mn associates by 2030; Aspiration for ~20-25% of revenue dollar-linked within 3-4 years.
FY Guidance: Not explicitly provided.
Market Share Targets: Not explicitly provided.
Risks and Opportunities: Dynamic market environment; Currency fluctuations.
ESG Updates
ESG Strength: Ratings CFC Finlease – 7.4 (Very Good) and SES ESG – 63.3.
