Happy Square Outsourcing Services Ltd.
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ABOUT
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 61.7%
- Company has a healthy return on capital (ROCE) of 36.2%
- Company comfortably covers its interest (7.3x coverage)
- Attractively priced for its growth - PEG of 0.1
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.07x)
- Free cash flow has been persistently negative
- Working capital days have increased from 42 to 132 days
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| URBANCO | 166.95 | 0.00 | 25746.71 | 0.00 | -921.20 | -13373.78 | 5283.40 | 1338.56 | -8.23 | -18.44 |
| BLS | 231.65 | 13.51 | 9537.98 | 1.08 | 201.62 | 11.41 | 890.53 | 25.33 | 36.54 | 28.34 |
| SIS | 420.05 | 40.52 | 5937.25 | 1.67 | 101.66 | 9.37 | 4603.58 | 29.73 | 7.39 | 4.66 |
| QUESS | 350.00 | 20.70 | 5228.51 | 3.14 | 82.12 | 61.07 | 4181.68 | 14.52 | 24.72 | 2.02 |
| BLSE | 314.65 | 49.19 | 2858.80 | 0.32 | 18.63 | 6.30 | 304.09 | 24.63 | 18.67 | 6.98 |
| BLUSPRING | 131.50 | 100.98 | 1965.95 | 0.00 | -1.58 | 77.90 | 949.29 | 19.07 | 1.32 | 2.17 |
| TEAMLEASE | 1236.60 | 12.77 | 1889.70 | 0.00 | 34.45 | 37.74 | 3034.69 | 4.96 | 16.22 | 1.05 |
| KAPSTON | 588.20 | 58.70 | 1790.02 | 0.00 | 84.89 | 1284.83 | 2216.57 | 1062.33 | 13.16 | 6.56 |
| GCSL | 601.20 | 55.17 | 1503.32 | 0.12 | 128.00 | 1240.31 | 375.21 | 70.67 | 21.85 | 46.76 |
| UDS | 207.45 | 16.00 | 1388.94 | 0.00 | 30.28 | 4.47 | 764.29 | 9.15 | 9.99 | 5.54 |
| KRYSTAL | 615.35 | 14.01 | 859.76 | 0.24 | 17.41 | 5.92 | 360.71 | 11.65 | 16.36 | 6.33 |
| WHITEFORCE | 37.20 | 7.21 | 43.15 | 0.00 | — | — | — | — | 17.97 | — |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
No standalone quarterly results found
We don't have this information yet. Please check back later.
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 28 | 53 | 69 | 97 | 109 | |
| 28 | 50 | 63 | 88 | 102 | |
| Operating Profit | 0 | 3 | 6 | 9 | 7 |
| OPM % | 1.63% | 5.39% | 9.30% | 9.56% | 6.55% |
| 0 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 1 |
| Profit before Tax | 0 | 2 | 6 | 8 | 6 |
| Tax % | 25.05% | 25.17% | 25.02% | 25.48% | -0.94% |
| Net Profit | 0 | 2 | 4 | 6 | 6 |
| EPS | 245.89 | 1787.84 | 4393.20 | 7.07 | 5.16 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 27%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 50%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -53%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 80%
- 3 Years:
- 62%
- Last Year:
- 22%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0 | 0 | 0 | 8 | 12 |
| 0 | 2 | 7 | 4 | 30 | |
| 4 | 7 | 11 | 15 | 7 | |
| Trade Payables | 2 | 3 | 1 | 1 | 0 |
| 3 | 3 | 9 | 12 | 11 | |
| Total Liabilities | 9 | 14 | 28 | 40 | 61 |
| 0 | 0 | 2 | 3 | 4 | |
| 0 | 0 | 0 | 0 | 5 | |
| 0 | 0 | 15 | 23 | 42 | |
| Cash & Bank | 0 | 0 | 0 | 1 | 1 |
| 8 | 14 | 11 | 13 | 8 | |
| Total Assets | 9 | 14 | 28 | 40 | 61 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 0 | -1 | -2 | -2 | -14 | |
| Cash from Investing | -1 | -1 | -2 | -0 | -1 |
| Cash from Financing | 1 | 2 | 4 | 2 | 15 |
| -0 | -0 | -0 | 0 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for WHITEFORCE
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