Hinduja Global Solutions Ltd.

•

hgs.cxBSE: 532859NSE: HGS

Market Cap₹ 1,789 Cr.

Current Price

High / Low₹ 546 / 342

Stock P/E0.0

Book Value₹ 563

Price to Book0.79

Dividend Yield0.00 %

ROCE-3.5 %

ROE-11.0 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Consumer Services

Buy

Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.

Confidence

73%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.40x)
Working capital cycle has improved - days down from 142 to 59
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Company is loss-making at the operating / net level
Operating cash flow has been negative in recent years
Company has a low return on equity of -2.1% over last 3 years
Company has a low return on capital employed of 0.6%
Interest coverage is weak at -1.1x - earnings barely cover interest
Company's sales have been declining over the last five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer ServicesITBPO/ITeS

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	NAUKRI	1265.00	51.28	82025.21	0.66	490.05	42.93	880.75	11.37	5.94	39.10
2.	AFFLE	1586.40	46.79	22354.65	0.00	128.44	21.74	747.16	20.37	16.86	22.43
3.	FSL	254.80	26.95	18084.93	2.16	165.92	-2.01	2724.88	22.69	17.26	16.56
4.	ECLERX	1917.55	24.74	18034.70	0.05	1642.42	1060.31	11523.58	1133.05	40.23	23.02
5.	PROTEAN	492.90	24.24	2002.22	2.03	5.86	-75.43	250.96	19.03	13.19	4.95
6.	HGS	384.60	55.58	1789.17	0.00	-662.60	-6037.28	10503.60	894.44	3.21	-3.28
7.	ONEPOINT	58.04	33.82	1526.09	0.00	16.31	72.83	158.32	129.42	17.04	22.61
8.	ALLDIGI	803.25	14.32	1224.02	7.47	18.12	21.69	150.28	4.43	41.28	27.52
9.	MATRIMONY	512.10	23.61	1058.68	0.98	19.08	127.14	130.51	13.16	21.40	20.06
10.	VAKRANGEE	5.53	56.01	599.01	0.00	2.26	-32.03	55.92	-18.76	6.07	11.87
11.	SIGMA	45.96	15.10	472.35	1.09	12.57	142.57	23.03	11.48	48.51	33.59
12.	SECMARK	142.45	45.37	148.82	0.00	-0.19	79.20	10.35	55.56	22.41	9.82

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	349	405	408	416	411	423	430	447	462	469	446	450	448
	346	398	394	408	456	430	433	437	471	471	455	461	561
Operating Profit	3	7	14	8	-45	-7	-3	10	-9	-3	-9	-11	-113
OPM %	0.79%	1.71%	3.45%	1.92%	-11.01%	-1.72%	-0.71%	2.25%	-1.99%	-0.57%	-1.92%	-2.40%	-25.13%
	74	67	44	95	59	24	61	32	44	68	51	91	51
Interest	20	25	23	22	31	29	30	27	27	28	25	25	24
Depreciation	61	70	70	67	65	63	65	64	62	59	61	68	59
Profit before Tax	-4	-20	-36	13	-81	-76	-37	-49	-54	-23	-44	-13	-61
Tax %	-20.28%	7.56%	22.20%	-69.36%	-4.79%	-0.30%	-48.83%	-117.98%	-15.41%	-19.29%	-19.25%	-49.72%	-1.03%
Net Profit	-5	-19	-28	23	-85	-76	-55	-107	-62	-27	-52	-19	-62
	-1.01	-3.88	-5.90	4.70	-18.31	-16.31	-11.78	-22.98	-13.36	-5.82	-11.25	-4.08	-13.34

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1,376	1,598	2,059	1,850	2,142	528	1,250	1,323	1,578	1,711	1,813
	1,136	1,375	1,740	1,511	1,686	595	1,224	1,285	1,537	1,757	1,948
Operating Profit	240	223	318	340	456	-67	27	38	41	-46	-135
OPM %	17.45%	13.94%	15.47%	18.36%	21.31%	-12.63%	2.12%	2.89%	2.59%	-2.66%	-7.43%
	31	27	21	42	86	50	173	398	271	176	261
Interest	15	16	10	11	58	17	125	101	91	117	102
Depreciation	82	78	84	79	177	43	221	233	268	257	248
Profit before Tax	174	156	246	292	308	-76	-147	103	-47	-243	-141
Tax %	29.84%	34.93%	13.58%	22.27%	25.28%	33.16%	42.17%	-134.58%	38.30%	-32.94%	-14.05%
Net Profit	122	102	213	227	230	-51	-85	242	-29	-323	-160
EPS	58.99	48.88	102.04	110.52	120.66	61.80	463.04	62.84	-6.23	-69.39	—
Dividend Payout %	25.40%	20.43%	9.79%	9.19%	18.13%	-163.53%	-1202.14%	32.62%	-112.29%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: -4%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: -22%
3 Years:: -28%
1 Year:: -27%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: -2%
3 Years:: -2%
Last Year:: -11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	21	21	21	21	21	21	42	53	47	47
	911	968	1,351	1,554	1,661	1,884	4,192	4,355	3,056	2,694
	243	159	142	177	946	741	960	638	956	1,131
Trade Payables	80	81	126	138	149	135	230	221	157	216
	382	426	511	613	694	907	1,709	1,355	1,232	1,303
Total Liabilities	1,636	1,655	2,151	2,502	3,469	3,688	7,133	6,622	5,447	5,391
	322	316	348	345	904	825	1,062	1,006	983	1,108
Capital Work in Progress	1	1	1	0	0	3	5	2	3	3
	438	434	400	403	399	394	741	740	863	867
	0	0	0	0	0	0	8	11	12	5
	0	0	0	0	0	0	0	0	375	349
Cash & Bank	28	43	135	57	87	162	2,331	478	271	201
	846	861	1,266	1,697	2,079	2,304	2,987	4,384	2,939	2,858
Total Assets	1,636	1,655	2,151	2,502	3,469	3,688	7,133	6,622	5,447	5,391

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	79	275	201	338	624	528	272	31	-17	-122
Cash from Investing	-120	-58	-58	-354	-345	-46	1,425	396	1,307	382
Cash from Financing	-36	-155	-48	-6	-146	-300	-583	-725	-1,509	-340
	-127	15	59	-72	23	72	678	-455	-219	-79

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.99	67.99	67.99	67.99	67.99	67.99	67.99	67.99	67.99
	12.51	12.88	11.98	11.93	11.83	11.83	11.82	11.77	11.73
	0.23	0.23	0.23	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	19.28	18.91	19.81	20.08	20.18	20.19	20.15	20.20	20.23

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Copy of Newspaper Publication

2026-09-09 - Hinduja Global Solutions Limited has informed the Exchange about Copy of Newspaper Publication for transfer of Equity Shares of the Company toInvestor Education and Protection Fund.

2026-09-09

General Updates

2026-09-09 - We have to inform you that the Board of Directors of IndusInd Media & Communications Limited ( IMCL ), a subsidiary of the Hinduja Global Solutions Limited has approved the divest/ sell of it s (i.e. IMCL) entire shareholding in Bhima Riddhi Infotainment Private Limited and Vinsat Digital Private Limited. Detailed disclosure in this regard is attached please.

2026-09-09

Clarification - Financial Results

2026-09-09 - The Exchange has sought clarification from Hinduja Global Solutions Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.

2026-09-04

General Updates

2026-09-04 - Hinduja Global Solutions Limited has informed the Exchange about General Updates about Regulation 36(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has completed the dispatch of the communication providing QR code and the weblink from where the Annual Report for FY 2025-26 and notice convening 31st Annual General Meeting of Hinduja Global Solutions Limited ('the Company') can be accessed, to those Shareholders whose e-mail addresses are not registered with the Company/ Registrar & Transfer Agent or the Depository Participants.

2026-09-03

General Updates

2026-09-03 - Hinduja Global Solutions Limited has informed the Exchange about General Updates regarding Communication to Shareholders - Intimation on Tax Deduction on Dividend

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Hinduja Global Solutions Limited has informed the Exchange about Copy of Newspaper Publication for Completion of dispatch of AGM Notice and Annual Report 2025-26

2026-09-01

General Updates

2026-09-01 - Hinduja Global Solutions Limited has informed the Exchange that pursuant to Regulation 36(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, communication providing QR code and the weblink from where the Annual Report for FY 2025-26 and notice convening 31st Annual General Meeting of Hinduja Global Solutions Limited ('the Company') can be accessed, are being sent to those Shareholders whose e-mail addresses are not registered with the Company/ Registrar & Transfer Agent or the Depository Participants

2026-09-01

Shareholders meeting

2026-09-01 - Hinduja Global Solutions Limited has informed the Exchange about Shareholders meeting

2026-08-28

Copy of Newspaper Publication

2026-08-28 - Hinduja Global Solutions Limited has informed the Exchange about Copy of Newspaper Publication for Notice of 31st Annual General Meeting, Record Date/ Book Closure dates and remotee-voting information

News

Recent coverage and analyst commentary for HGS

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Hinduja Global Solutions Ltd.

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Free 5nance Account

Name

NAUKRI

1265.00

51.28

82025.21

0.66

490.05

42.93

880.75

11.37

5.94

39.10

AFFLE

1586.40

46.79

22354.65

0.00

128.44

21.74

747.16

20.37

16.86

22.43

FSL

254.80

26.95

18084.93

2.16

165.92

-2.01

2724.88

22.69

17.26

16.56

ECLERX

1917.55

24.74

18034.70

0.05

1642.42

1060.31

11523.58

1133.05

40.23

23.02

PROTEAN

492.90

24.24

2002.22

2.03

5.86

-75.43

250.96

19.03

13.19

4.95

HGS

384.60

55.58

1789.17

0.00

-662.60

-6037.28

10503.60

894.44

3.21

-3.28

ONEPOINT

58.04

33.82

1526.09

0.00

16.31

72.83

158.32

129.42

17.04

22.61

ALLDIGI

803.25

14.32

1224.02

7.47

18.12

21.69

150.28

4.43

41.28

27.52

MATRIMONY

512.10

23.61

1058.68

0.98

19.08

127.14

130.51

13.16

21.40

20.06

VAKRANGEE

5.53

56.01

599.01

0.00

2.26

-32.03

55.92

-18.76

6.07

11.87

SIGMA

45.96

15.10

472.35

1.09

12.57

142.57

23.03

11.48

48.51

33.59

SECMARK

142.45

45.37

148.82

0.00

-0.19

79.20

10.35

55.56

22.41

9.82

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

349

405

408

416

411

423

430

447

462

469

446

450

448

346

398

394

408

456

430

433

437

471

455

461

561

Operating Profit

-45

-7

-3

-9

-3

-9

-11

-113

OPM %

0.79%

1.71%

3.45%

1.92%

-11.01%

-1.72%

-0.71%

2.25%

-1.99%

-0.57%

-1.92%

-2.40%

-25.13%

Interest

Depreciation

Profit before Tax

-4

-20

-36

-81

-76

-37

-49

-54

-23

-44

-13

-61

Tax %

-20.28%

7.56%

22.20%

-69.36%

-4.79%

-0.30%

-48.83%

-117.98%

-15.41%

-19.29%

-19.25%

-49.72%

-1.03%

Net Profit

-5

-19

-28

-85

-76

-55

-107

-62

-27

-52

-19

-62

-1.01

-3.88

-5.90

4.70

-18.31

-16.31

-11.78

-22.98

-13.36

-5.82

-11.25

-4.08

-13.34

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

1,376

1,598

2,059

1,850

2,142

528

1,250

1,323

1,578

1,711

1,813

1,136

1,375

1,740

1,511

1,686

595

1,224

1,285

1,537

1,757

1,948

Operating Profit

240

223

318

340

456

-67

-46

-135

OPM %

17.45%

13.94%

15.47%

18.36%

21.31%

-12.63%

2.12%

2.89%

2.59%

-2.66%

-7.43%

173

398

271

176

261

Interest

125

101

117

102

Depreciation

177

221

233

268

257

248

Profit before Tax

174

156

246

292

308

-76

-147

103

-47

-243

-141

Tax %

29.84%

34.93%

13.58%

22.27%

25.28%

33.16%

42.17%

-134.58%

38.30%

-32.94%

-14.05%

Net Profit

122

102

213

227

230

-51

-85

242

-29

-323

-160

EPS

58.99

48.88

102.04

110.52

120.66

61.80

463.04

62.84

-6.23

-69.39

—

Dividend Payout %

25.40%

20.43%

9.79%

9.19%

18.13%

-163.53%

-1202.14%

32.62%

-112.29%

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

911

968

1,351

1,554

1,661

1,884

4,192

4,355

3,056

2,694

243

159

142

177

946

741

960

638

956

1,131

Trade Payables

126

138

149

135

230

221

157

216

382

426

511

613

694

907

1,709

1,355

1,232

1,303

Total Liabilities

1,636

1,655

2,151

2,502

3,469

3,688

7,133

6,622

5,447

5,391

322

316

348

345

904

825

1,062

1,006

983

1,108

Capital Work in Progress

438

434

400

403

399

394

741

740

863

867

375

349

Cash & Bank

135

162

2,331

478

271

201

846

861

1,266

1,697

2,079

2,304

2,987

4,384

2,939

2,858

Total Assets

1,636

1,655

2,151

2,502

3,469

3,688

7,133

6,622

5,447

5,391

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

275

201

338

624

528

272

-17

-122

Cash from Investing

-120

-58

-354

-345

-46

1,425

396

1,307

382

Cash from Financing

-36

-155

-48

-6

-146

-300

-583

-725

-1,509

-340

-127

-72

678

-455

-219

-79

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

67.99

12.51

12.88

11.98

11.93

11.83

11.82

11.77

11.73

0.23

0.00

Government

0.00

19.28

18.91

19.81

20.08

20.18

20.19

20.15

20.20

20.23

Hinduja Global Solutions Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Hinduja Global Solutions Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI