HGSServices

Hinduja Global Solutions Limited

Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO) · ISIN INE170I01016 · BSE 532859 · NSE EQ · FV ₹10
Last price
₹386
+0.08%today
What this company does

Hinduja Global Solutions Limited operates in Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO), part of the Services sector. It booked ₹1,050 cr of revenue in its latest quarter (Q1 FY27) and kept -5.5% of sales as profit. It is the 4th largest of 7 Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO) companies we track, by market value.

Business Highlights A global leader in optimizing the customer experience Delivery Centres: As on March 31, 2024, HGS had lifecycle, digital transformation, business process presence in nine countries, including 32 global delivery management, and digital media ecosystem, HGS is centres.
Their stated vision

is to provide a framework which sets out our workplace diversity, equity and inclusion objectives to meet our goal of being an employer of choice and preferred business partner.

In the report:
54out of 100
Equitytale Health Score
Mixed

Healthier than 54% of companies in Services, on all six measures of filed financials. Each measure is ranked against the 50–116 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
34

At close. Not part of the score.

Profitability & returns8

How much profit it earns on the money it employs

Balance sheet47

How much it owes, and whether earnings cover the interest

Cash quality84

Whether reported profit actually arrives as cash

Growth & consistency32

Whether sales and profit have grown, and how steadily

Valuation100

What today's price implies, against our models or its peers · highest in its sector on what we could measure

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Some things to watch
Strengths
Promoters hold 68%
No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -5.5% net margin
! Low -2.8% return on equity

What if I invest in HGS?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 2% a year, it would become
₹13.28 lakh

The slider starts at 2%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹386 +0.08%
latest close · 2026-09-17
1-year return
-72.2%
52-wk low ₹37552-wk high ₹1,960
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio0.22Below book
Below bookModerateHigh
EV / EBITDA5.4Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-2.8%Loss
WeakFairStrong ▸15%
Return on capital-0.3%Loss
WeakFairStrong
Net margin-5.5%Loss
ThinDecentStrong
EBITDA margin11.1%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.15Comfortable
LowModerateHigh ▸1
Interest cover-0.2×Risky
RiskyOkayStrong ▸5×
Current ratio3.34Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹1,797 cr
Book value
₹1,788
EPS
₹-12.51
latest quarter
Net debt
₹725 cr
owes more than its cash
Enterprise value
₹2,522 cr
EBITDA
₹465 cr
annualised
EBIT
₹-29 cr
annualised
Operating margin
-0.7%
Return on assets
-2.0%
Earnings yield
P/S
0.43
Sales / share
₹903.1
Tax rate
Face value
₹10
Shares
4.7 cr
Working capital
₹5,612 cr
Current assets
₹8,010 cr
Current liabilities
₹2,398 cr
Delivery %
63.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹1,035₹1,321, midpoint ₹1,178

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,050 cr
Other Income₹151 cr
Total Income₹1,201 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹32 cr
Inventory Change (±)₹2 cr
Employee Benefit Expense₹631 cr
Finance Costs₹46 cr
Depreciation & Amortisation₹124 cr
Other Expenses₹420 cr
Total Expenses₹1,254 cr
Profit before Tax₹-53 cr
Tax Expense₹13 cr
Net Profit₹-66 cr
Net margin on total income-5.5%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹34 cr2.7%
Employee benefit expense₹631 cr49.8%
Finance costs₹46 cr3.6%
Depreciation & amortisation₹124 cr9.7%
Other expenses₹420 cr33.2%
Tax expense₹13 cr1.1%
Total income ₹1,201 cr

The company made a net loss of ₹66 cr this quarter — income covered only 95 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,075 cr1,085 cr1,050 cr
Total income1,192 cr1,255 cr1,201 cr
Expenses1,229 cr1,241 cr1,254 cr
Profit before tax-41 cr9 cr-53 cr
Tax15 cr23 cr13 cr
Net profit (owners' share)43 cr-8 cr-58 cr
Net margin (owners' share, on revenue)4.0%-0.8%-5.5%
EPS (₹)-10.31-1.78-12.51
YoY (latest quarter): total income +1.2% · net profit
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹11,564 cr
Shareholder equity
₹8,317 cr
parent shareholders
Total debt
₹1,294 cr
Cash
₹569 cr
Cash flow · H1 FY26
Operating
₹89 cr
Investing
₹-7 cr
Financing
₹-259 cr
Peer comparison
Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO) · by market value
CompanyPriceMarket capP/E
Firstsource Solutions Limited₹273₹19,035 cr28.4
eClerx Services Limited₹1,923₹17,682 cr26.9
RPSG VENTURES LIMITED₹833₹7,653 cr7.6
Hinduja Global Solutions Limitedthis company₹386₹1,797 cr
One Point One Solutions Limited₹59₹1,555 cr23.8
Alldigi Tech Limited₹785₹1,196 cr16.5
WE WIN LIMITED₹43₹102 cr
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹7
ex 19 Sep 2024
ActionDetailEx-date
Dividend₹7 / share19 Sep 2024
Dividend₹2.5 / share13 Sep 2023
Dividend₹2.5 / share6 Mar 2023
BuybackBuy Back6 Mar 2023
Dividend₹5 / share7 Dec 2022
Dividend₹25 / share23 Sep 2022
Who owns it · 2026-06-30
No pledge
Promoter
68.0%
FII / Foreign
11.7%
DII / Domestic
0.1%
Retail / others
20.2%
Promoter stake up 0.3% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtHinduja Realty Ventures Limited · Promoter Group8.04 L · ₹32.7 cr19 Aug 26
SoldAasia Corporation LLP · Promoter Group3.67 L · ₹14.9 cr19 Aug 26
SoldHinduja Group Limited jointly with Hinduja Realty Ventures Limited (As Demat Account holder and partners of Aasia Exports) · Promoter Group4.37 L · ₹17.8 cr19 Aug 26
Bulk / block deals
SoldAVIATOR GLOBAL INVESTMENT FUND · NSE4.70 L @ ₹881.96 Sep 24
BoughtALLSTARS INVESTMENTS LIMITED · NSE4.70 L @ ₹881.96 Sep 24
SoldAVIATOR GLOBAL INVESTMENT FUND · NSE4.70 L @ ₹881.96 Sep 24
Stake changes
BoughtHinduja Group Ltd · promoter→ 37.85% · 1.28 L13 Jun 24
BoughtHinduja Group Ltd · promoter→ 37.57% · 11.60 L4 Jun 24
SoldHinduja Group Ltd./Hinduja Realty Ventures Ltd · promoter→ 2.92% · 11.60 L4 Jun 24
Promoter pledges
Pledged360 One Prime Limited45.00 L · 0.00% held27 Dec 24
Pledged360 One Prime Limited45.00 L · 0.00% held27 Dec 24
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 26 Dec 2025
See the official result
1
Re-appointment of Mr. Vynsley Fernandes (DIN: 02987818), as Whole-time Director of the Company and fixation of his remuneration.
⚑ Passed only because promoters voted yes
Backed by 43% of shareholders other than promotersneeded 75%
2.01 L votes for, 2.64 L against · 100% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 14 named members
owning 65.4% between them · as of 2026-06-30
HINDUJA GROUP LIMITED37.85%
AMAS MAURITIUS LIMITED14.04%
HINDUJA REALTY VENTURES LIMITED6.41%
Ashok P. Hinduja, Karta of S.P. Hinduja HUF (Bigger)2.46%
HINDUJA GROUP LTD JTLY WITH HINDUJA REALTY VENTURES LTD(as Demat A/c holder and Partners of Aasia Exports)1.30%
AMBIKA ASHOK HINDUJA0.83%
AASIA CORPORATION LLP0.79%
SHOM ASHOK HINDUJA0.65%
Business done with them
FY2025 · 8 of the group
The company paid ₹1,172 cr to companies in the promoter group last year — about 26.6% of its ₹4,404 cr revenue and received ₹1,229 cr back from them.
HINDUJA REALTY VENTURES LIMITED
Transfers Under Finance Agreements From Entity · Interest income, Lease income, Lease payments, Interest Expense, Maintenance AMC, Loans Given, Loans Repaid, Security deposit, Dividend Paid
also owns 6.41% of the company
₹764 cr
company received
HINDUJA REALTY VENTURES LIMITED
Transfers Under Finance Agreements To Entity · Interest income, Lease income, Lease payments, Interest Expense, Maintenance AMC, Loans Given, Loans Repaid, Security deposit, Dividend Paid
also owns 6.41% of the company
₹574 cr
company paid
HINDUJA GROUP LIMITED
Transfers Under Finance Agreements To Entity · Service charges recovered, Interest income, Interest Expense, Legal & Professional charges, Dividend Paid, Loans Given, Loans Repaid, Inter Corporate Deposits Repaid
also owns 37.85% of the company
₹502 cr
company paid
HINDUJA GROUP LIMITED
Transfers Under Finance Agreements From Entity · Service charges recovered, Interest income, Interest Expense, Legal & Professional charges, Dividend Paid, Loans Given, Loans Repaid, Inter Corporate Deposits Repaid
also owns 37.85% of the company
₹394 cr
company received
Hinduja Finance Limited
Transfers Under Finance Agreements To Entity · Service charges recovered, Interest income, Loans Given, Loans Repaid
₹60 cr
company paid
Hinduja Finance Limited
Transfers Under Finance Agreements From Entity · Service charges recovered, Interest income, Loans Given, Loans Repaid
₹40 cr
company received
HINDUJA GROUP LIMITED
Other payments to them · Service charges recovered, Interest income, Interest Expense, Legal & Professional charges, Dividend Paid, Loans Given, Loans Repaid, Inter Corporate Deposits Repaid
also owns 37.85% of the company
₹27 cr
company paid
HINDUJA REALTY VENTURES LIMITED
Other income from them · Interest income, Lease income, Lease payments, Interest Expense, Maintenance AMC, Loans Given, Loans Repaid, Security deposit, Dividend Paid
also owns 6.41% of the company
₹24 cr
company received
HINDUJA GROUP LIMITED
Other income from them · Service charges recovered, Interest income, Interest Expense, Legal & Professional charges, Dividend Paid, Loans Given, Loans Repaid, Inter Corporate Deposits Repaid
also owns 37.85% of the company
₹6 cr
company received
HINDUJA REALTY VENTURES LIMITED
Other payments to them · Interest income, Lease income, Lease payments, Interest Expense, Maintenance AMC, Loans Given, Loans Repaid, Security deposit, Dividend Paid
also owns 6.41% of the company
₹6 cr
company paid
Ashok Parmanand Hinduja
Other payments to them · Dividend Paid
₹1 cr
company paid
Harsha Ashok Hinduja
Other payments to them · Dividend Paid
₹85 L
company paid
Hinduja Finance Limited
Other income from them · Service charges recovered, Interest income, Loans Given, Loans Repaid
₹64 L
company received
Ambika Ashok Hinduja
Other payments to them · Dividend Paid
also owns 0.83% of the company
₹27 L
company paid
Aasia Corporation LLC
Other payments to them · Dividend Paid
also owns 0.79% of the company
₹26 L
company paid
Hinduja Properties Limited
Other payments to them · Dividend Paid
also owns 0.13% of the company
₹4 L
company paid

The company also transacted with 9 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.