Happy Square Outsourcing Services Ltd.
•₹ 39.51.28%
2026-08-21
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
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | URBANCO | 147.40 | 0.00 | 22731.74 | 0.00 | -921.20 | -13373.78 | 5283.40 | 1338.56 | -8.23 | -18.44 |
| 2. | BLS | 271.30 | 15.83 | 11170.53 | 0.92 | 201.62 | 11.41 | 890.53 | 25.33 | 41.51 | 28.34 |
| 3. | SIS | 413.85 | 39.92 | 5848.98 | 1.69 | 101.66 | 9.37 | 4603.58 | 29.73 | 7.39 | 4.66 |
| 4. | QUESS | 336.50 | 19.90 | 5025.96 | 3.27 | 82.12 | 61.07 | 4181.68 | 14.52 | 24.72 | 2.02 |
| 5. | BLSE | 314.00 | 49.09 | 2852.89 | 0.16 | 18.63 | 6.30 | 304.09 | 24.63 | 17.52 | 6.98 |
| 6. | TEAMLEASE | 1239.85 | 12.80 | 1894.66 | 0.00 | 34.45 | 37.74 | 3034.69 | 4.96 | 14.52 | 1.05 |
| 7. | BLUSPRING | 119.80 | 0.00 | 1791.04 | 0.00 | -1.58 | 77.90 | 949.29 | 19.07 | 1.32 | 2.17 |
| 8. | KAPSTON | 523.40 | 52.23 | 1592.82 | 0.00 | 84.89 | 1284.83 | 2216.57 | 1062.33 | 13.16 | 6.56 |
| 9. | UDS | 216.75 | 16.72 | 1451.21 | 0.00 | 30.28 | 4.47 | 764.29 | 9.15 | 9.99 | 5.54 |
| 10. | GCSL | 522.95 | 46.36 | 1263.41 | 0.13 | 12.80 | 1240.31 | 37.52 | 70.71 | 21.85 | 46.76 |
| 11. | KRYSTAL | 628.70 | 14.31 | 878.42 | 0.24 | 17.41 | 5.92 | 360.71 | 11.65 | 17.52 | 6.33 |
| 12. | WHITEFORCE | 38.00 | 0.00 | 44.08 | 0.00 | — | — | — | — | 17.97 | — |
Detailed Comparison with:
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 | 7 | 10 | 8 |
| OPM % | 2 | 6 | 10 | 10 | 7 |
| Other Income | 0 | 0 | 0 | 0 | 1 |
| Interest | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 1 |
| 0 | 2 | 6 | 8 | 6 | |
| Tax % | 25 | 25 | 25 | 25 | -1 |
| Net Profit | 0 | 2 | 4 | 6 | 6 |
| EPS | 246 | 1,788 | 4,393 | 7 | 5 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | 2 | 5 | 7 | 5 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | 2 | 5 | 7 | 5 |
Mar 2022
- 28
- 28
- Operating Profit
- 0
- OPM %
- 2
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- 25
- Net Profit
- 0
- EPS
- 246
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2023
- 53
- 50
- Operating Profit
- 3
- OPM %
- 6
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 2
- Tax %
- 25
- Net Profit
- 2
- EPS
- 1,788
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2024
- 69
- 63
- Operating Profit
- 7
- OPM %
- 10
- Other Income
- 0
- Interest
- 1
- Depreciation
- 0
- 6
- Tax %
- 25
- Net Profit
- 4
- EPS
- 4,393
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2025
- 97
- 88
- Operating Profit
- 10
- OPM %
- 10
- Other Income
- 0
- Interest
- 1
- Depreciation
- 0
- 8
- Tax %
- 25
- Net Profit
- 6
- EPS
- 7
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2026
- 109
- 102
- Operating Profit
- 8
- OPM %
- 7
- Other Income
- 1
- Interest
- 1
- Depreciation
- 1
- 6
- Tax %
- -1
- Net Profit
- 6
- EPS
- 5
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
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:
- -52%
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 | |
|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - |
| Equity Capital | 0 | 0 | 0 | 8 | 12 |
| 0 | 2 | 7 | 4 | 30 | |
| 1 | 4 | 8 | 11 | 5 | |
| Trade Payables | 2 | 3 | 1 | 1 | 0 |
| 6 | 6 | 12 | 15 | 13 | |
| Total Liabilities | 9 | 14 | 28 | 40 | 61 |
| ASSETS | - | - | - | - | - |
| 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 |
| Total Debt | 4 | 7 | 11 | 15 | 7 |
| Net Working Capital | 2 | 2 | 5 | 11 | 39 |
| Contingent Liabilities | 0 | 0 | 1 | 4 | 4 |
| Book Value per Share | 352.20 | 2140.00 | 6574.70 | 14.84 | 36.28 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 4 | 7 | 11 | 15 | 7 |
| Net Working Capital | 2 | 2 | 5 | 11 | 39 |
| Contingent Liabilities | 0 | 0 | 1 | 4 | 4 |
| Book Value per Share | 352.20 | 2140.00 | 6574.70 | 14.84 | 36.28 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2022
- Equity Capital
- 0
- 0
- 1
- Trade Payables
- 2
- 6
- Total Liabilities
- 9
- 0
- 0
- 0
- Cash & Bank
- 0
- 8
- Total Assets
- 9
- Total Debt
- 4
- Net Working Capital
- 2
- Contingent Liabilities
- 0
- Book Value per Share
- 352.20
- Face Value
- 10.00
- Total Debt
- 4
- Net Working Capital
- 2
- Contingent Liabilities
- 0
- Book Value per Share
- 352.20
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 0
- 2
- 4
- Trade Payables
- 3
- 6
- Total Liabilities
- 14
- 0
- 0
- 0
- Cash & Bank
- 0
- 14
- Total Assets
- 14
- Total Debt
- 7
- Net Working Capital
- 2
- Contingent Liabilities
- 0
- Book Value per Share
- 2140.00
- Face Value
- 10.00
- Total Debt
- 7
- Net Working Capital
- 2
- Contingent Liabilities
- 0
- Book Value per Share
- 2140.00
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 0
- 7
- 8
- Trade Payables
- 1
- 12
- Total Liabilities
- 28
- 2
- 0
- 15
- Cash & Bank
- 0
- 11
- Total Assets
- 28
- Total Debt
- 11
- Net Working Capital
- 5
- Contingent Liabilities
- 1
- Book Value per Share
- 6574.70
- Face Value
- 10.00
- Total Debt
- 11
- Net Working Capital
- 5
- Contingent Liabilities
- 1
- Book Value per Share
- 6574.70
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 8
- 4
- 11
- Trade Payables
- 1
- 15
- Total Liabilities
- 40
- 3
- 0
- 23
- Cash & Bank
- 1
- 13
- Total Assets
- 40
- Total Debt
- 15
- Net Working Capital
- 11
- Contingent Liabilities
- 4
- Book Value per Share
- 14.84
- Face Value
- 10.00
- Total Debt
- 15
- Net Working Capital
- 11
- Contingent Liabilities
- 4
- Book Value per Share
- 14.84
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 12
- 30
- 5
- Trade Payables
- 0
- 13
- Total Liabilities
- 61
- 4
- 5
- 42
- Cash & Bank
- 1
- 8
- Total Assets
- 61
- Total Debt
- 7
- Net Working Capital
- 39
- Contingent Liabilities
- 4
- Book Value per Share
- 36.28
- Face Value
- 10.00
- Total Debt
- 7
- Net Working Capital
- 39
- Contingent Liabilities
- 4
- Book Value per Share
- 36.28
- Face Value
- 10.00
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 | |
| Free Cash Flow | -0 | -2 | -4 | -3 | -15 |
| OCF / Net Profit | -0.16 | -0.80 | -0.43 | -0.28 | -2.33 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 |
| OCF / Net Profit | -0.16 | -0.80 | -0.43 | -0.28 | -2.33 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 |
Mar 2022
- -0
- Cash from Investing
- -1
- Cash from Financing
- 1
- -0
- Free Cash Flow
- -0
- OCF / Net Profit
- -0.16
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.16
- Cumulative 5-Year FCF
- 0
Mar 2023
- -1
- Cash from Investing
- -1
- Cash from Financing
- 2
- -0
- Free Cash Flow
- -2
- OCF / Net Profit
- -0.80
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.80
- Cumulative 5-Year FCF
- 0
Mar 2024
- -2
- Cash from Investing
- -2
- Cash from Financing
- 4
- -0
- Free Cash Flow
- -4
- OCF / Net Profit
- -0.43
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.43
- Cumulative 5-Year FCF
- 0
Mar 2025
- -2
- Cash from Investing
- -0
- Cash from Financing
- 2
- 0
- Free Cash Flow
- -3
- OCF / Net Profit
- -0.28
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.28
- Cumulative 5-Year FCF
- 0
Mar 2026
- -14
- Cash from Investing
- -1
- Cash from Financing
- 15
- 1
- Free Cash Flow
- -15
- OCF / Net Profit
- -2.33
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -2.33
- Cumulative 5-Year FCF
- 0
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - |
| EPS (₹) | 245.90 | 1787.80 | 4393.20 | 7.07 | 5.16 |
| Book Value (₹) | 352.20 | 2140.00 | 6574.70 | 14.84 | 36.28 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.41 | 2.31 | 5.44 | 7.61 | 5.82 |
| PROFITABILITY | - | - | - | - | - |
| Operating Margin % | 1.69% | 5.58% | 9.30% | 9.56% | 6.55% |
| Net Margin % | 0.87% | 3.39% | 6.34% | 6.10% | 5.48% |
| ROE % | 69.82% | 143.47% | 100.82% | 62.40% | 21.93% |
| ROCE % | 9.07% | 43.12% | 49.61% | 40.92% | 17.97% |
| 2.85% | 15.61% | 20.62% | 17.50% | 11.87% | |
| EFFICIENCY | - | - | - | - | - |
| Debtor Days | 78 | 47 | 60 | 71 | 109 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 |
| 78 | 47 | 60 | 71 | 109 | |
| FINANCIAL HEALTH | - | - | - | - | - |
| Debt to Equity (x) | 10.94x | 3.07x | 1.67x | 1.17x | 0.17x |
| Interest Coverage (x) | 7.13x | 7.03x | 9.92x | 7.92x | 7.26x |
| 1.36x | 1.25x | 1.29x | 1.47x | 3.32x | |
| GROWTH | - | - | - | - | - |
| Revenue Growth % | 0.00% | 86.68% | 31.48% | 40.59% | 12.06% |
| Operating Profit Growth % | 0.00% | 516.50% | 127.75% | 43.05% | -17.94% |
| Net Profit Growth % | 0.00% | 627.04% | 145.73% | 35.32% | 0.66% |
| 0.00% | 0.00% | 145.73% | -99.84% | -27.03% | |
| VALUATION | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 6.40x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.91x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 1.61x | 2.33x | 5.63x |
Mar 2022
- EPS (₹)
- 245.90
- Book Value (₹)
- 352.20
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.41
- Operating Margin %
- 1.69%
- Net Margin %
- 0.87%
- ROE %
- 69.82%
- ROCE %
- 9.07%
- 2.85%
- Debtor Days
- 78
- Inventory Days
- 0
- Payable Days
- 0
- 78
- Debt to Equity (x)
- 10.94x
- Interest Coverage (x)
- 7.13x
- 1.36x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 1787.80
- Book Value (₹)
- 2140.00
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.31
- Operating Margin %
- 5.58%
- Net Margin %
- 3.39%
- ROE %
- 143.47%
- ROCE %
- 43.12%
- 15.61%
- Debtor Days
- 47
- Inventory Days
- 0
- Payable Days
- 0
- 47
- Debt to Equity (x)
- 3.07x
- Interest Coverage (x)
- 7.03x
- 1.25x
- Revenue Growth %
- 86.68%
- Operating Profit Growth %
- 516.50%
- Net Profit Growth %
- 627.04%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 4393.20
- Book Value (₹)
- 6574.70
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 5.44
- Operating Margin %
- 9.30%
- Net Margin %
- 6.34%
- ROE %
- 100.82%
- ROCE %
- 49.61%
- 20.62%
- Debtor Days
- 60
- Inventory Days
- 0
- Payable Days
- 0
- 60
- Debt to Equity (x)
- 1.67x
- Interest Coverage (x)
- 9.92x
- 1.29x
- Revenue Growth %
- 31.48%
- Operating Profit Growth %
- 127.75%
- Net Profit Growth %
- 145.73%
- 145.73%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 1.61x
Mar 2025
- EPS (₹)
- 7.07
- Book Value (₹)
- 14.84
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 7.61
- Operating Margin %
- 9.56%
- Net Margin %
- 6.10%
- ROE %
- 62.40%
- ROCE %
- 40.92%
- 17.50%
- Debtor Days
- 71
- Inventory Days
- 0
- Payable Days
- 0
- 71
- Debt to Equity (x)
- 1.17x
- Interest Coverage (x)
- 7.92x
- 1.47x
- Revenue Growth %
- 40.59%
- Operating Profit Growth %
- 43.05%
- Net Profit Growth %
- 35.32%
- -99.84%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 2.33x
Mar 2026
- EPS (₹)
- 5.16
- Book Value (₹)
- 36.28
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 5.82
- Operating Margin %
- 6.55%
- Net Margin %
- 5.48%
- ROE %
- 21.93%
- ROCE %
- 17.97%
- 11.87%
- Debtor Days
- 109
- Inventory Days
- 0
- Payable Days
- 0
- 109
- Debt to Equity (x)
- 0.17x
- Interest Coverage (x)
- 7.26x
- 3.32x
- Revenue Growth %
- 12.06%
- Operating Profit Growth %
- -17.94%
- Net Profit Growth %
- 0.66%
- -27.03%
- P/E (x)
- 6.40x
- P/B (x)
- 0.91x
- Dividend Yield %
- 0.00%
- 5.63x
Documents
Announcements
Nothing filed yet.
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jun 2026
Sep 2025