TeamLease Services Limited announced its unaudited consolidated financial results for Q1FY27 ending March 31, 2027. The disclosure was made pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

Consolidated Results (₹ crore):

  • Total Revenue: ₹3,056 crore (4% QoQ growth, 6% YoY growth)
  • Revenue from Operations: ₹3,035 crore (4% QoQ growth)
  • Operating EBITDA: ₹38 crore (-32% QoQ)
  • EBITDA: ₹32 crore (-31% QoQ)
  • EBITDA Margin: 1.0% (1.6% in Q4FY26, 1.1% in Q1FY26)
  • Profit before Tax: ₹36 crore (38% YoY growth, -30% QoQ)
  • PBT Margin: 1.2% (1.8% in Q4FY26, 0.9% in Q1FY26)
  • Profit after Tax: ₹34 crore
  • PAT Margin: 1.1% (1.6% in Q4FY26, 0.9% in Q1FY26)
  • EPS: ₹21 per share (₹26 in Q4FY26, ₹16 in Q1FY26)

Headcount Details

  • General Staffing: 2,90,500 associates (1% QoQ growth)
  • Degree Apprenticeship: 43,200 trainees (-7% QoQ)
  • Specialised Staffing: 7,630 associates (2% QoQ growth)
  • Total Headcount: 3,41,330 associates (3% YoY decline)

The 3% YoY headcount decline reflects the Q3FY26 insourcing of approximately 23,000 associates by a large NBFC client onto its own payroll led by regulatory requirement.

Corporate Action - Buyback

The Company completed the buyback of equity shares approved by the Board in May 2026:

  • Shares bought back: 14,87,500 shares
  • Buyback price: ₹1,600 per share
  • Total value: ₹238 crore
  • Percentage of paid-up capital: 8.87%
  • Record date: July 3, 2026
  • Post-offer public announcement: July 23, 2026

Cash Position

  • Net free cash: ₹350 crore (after buyback outflow)
  • Outstanding TDS receivable: Approximately ₹145 crore

Business Segment Performance

General Staffing:

  • 28 new client logos added, with more than 65% onboarded under variable engagement model
  • 30% of gross associates hired were first-time job seekers
  • BFSI vertical remained softer due to unsecured retail credit correction
  • DSO: 6 days (consistent with prior quarter)
  • Funding exposure: 16%

Degree Apprenticeship:

  • 18 new client logos added
  • 32% of total associate base has fully adopted integrated learning solutions (up from 30% in Q4FY26)
  • Net additions excluding planned exits: approximately 2,100
  • Strong momentum in Global Capability Centre (GCC) segment

Specialised Staffing:

  • Gross revenue grew 6% QoQ and 21% YoY
  • EBITDA declined 10% sequentially due to annual appraisal cycle and higher leave availment
  • 130 net headcount additions (including 33 from international business)
  • GCC segment contributed over 67% of segment revenue
  • Currently serve 120+ GCC clients across Life Sciences, Telecom, Consulting, Engineering, BFSI, Consumer and IT verticals (up from 110+ at FY26 end)

HR Services:

  • Segment revenue declined 34% QoQ due to EdTech seasonality
  • Segment EBITDA margin: -5%
  • Losses narrowed YoY supported by revenue growth and recovery of prior-period dues
  • RegTech digital business reached 500 billable customers (300 added over last two years)
  • Board approved exit from arrangement with Crystal HR & Security Solutions Private Limited (Wallet HR)

Management Commentary

Ms. Suparna Mitra, Managing Director & CEO, stated: "Our business EBITDA has improved 18% YoY backed by GCC specialised staffing and operational efficiency. While the overall hiring trends are softer in general staffing, our new logo addition and hiring productivity are on upward trajectory. Continued formalisation of the economy and growing demand for comprehensive talent solutions are reshaping the employment landscape. TeamLease is well positioned to participate in these structural opportunities and shall make right investments in technology-enabled platforms, deeper leadership team and higher-margin adjacencies."

Additional Business Metrics

  • Added 127 new enterprise client logos across all businesses during the quarter
  • Net addition of over 700 associates during the quarter
  • 4,130 net additions across General and Specialised Staffing
  • Planned Degree Apprenticeship exits: 5,500 trainees