Happy Square Outsourcing Services Ltd
Incorporated in 2017, Happy Square Outsourcing Services Ltd is in the business of providing technology-based staffing, recruitment and
payroll solutions[1]
- Market Cap ₹ 38.9 Cr.
- Current Price ₹ 33.5
- High / Low ₹ 94.8 / 28.2
- Stock P/E 6.26
- Book Value ₹ 36.3
- Dividend Yield 0.00 %
- ROCE 18.6 %
- ROE 22.8 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 0.93 times its book value
- Company has a good return on equity (ROE) track record: 3 Years ROE 40.1%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -23.1%
- Tax rate seems low
- Debtor days have increased from 103 to 142 days.
- Working capital days have increased from 64.6 days to 127 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Services Services Commercial Services & Supplies Diversified Commercial Services
Part of Nifty SME Emerge
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| 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 % | 2% | 5% | 9% | 10% | 7% |
| 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% | 25% | 25% | 26% | -1% |
| 0 | 2 | 4 | 6 | 6 | |
| EPS in Rs | 250.00 | 1,790.00 | 4,390.00 | 7.02 | 5.15 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 27% |
| TTM: | 12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 51% |
| TTM: | 5% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 43% |
| 3 Years: | 40% |
| Last Year: | 23% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 8 | 12 |
| Reserves | 0 | 2 | 7 | 4 | 30 |
| 4 | 7 | 11 | 15 | 7 | |
| 4 | 6 | 11 | 13 | 12 | |
| Total Liabilities | 9 | 14 | 28 | 40 | 61 |
| 0 | 0 | 2 | 3 | 4 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 5 |
| 8 | 14 | 26 | 36 | 52 | |
| Total Assets | 9 | 14 | 28 | 40 | 61 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -0 | -1 | -2 | -2 | -14 | |
| -1 | -1 | -2 | -0 | -1 | |
| 1 | 2 | 4 | 2 | 15 | |
| Net Cash Flow | -0 | -0 | 0 | 0 | 1 |
| Free Cash Flow | -0 | -2 | -4 | -3 | -15 |
| CFO/OP | 44% | -28% | -7% | 5% | -196% |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 78 | 53 | 80 | 86 | 142 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 78 | 53 | 80 | 86 | 142 |
| Working Capital Days | 18 | 15 | 27 | 40 | 127 |
| ROCE % | 43% | 50% | 41% | 19% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Logistics Staffing Employees Numbers |
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| Manpower Deployed (Staffing Employees) Numbers |
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| PSU Staffing Employees Numbers |
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| Technology & IT Staffing Employees Numbers |
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| Total Core Manpower (Internal Employees) Numbers |
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| Number of Clients Numbers |
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| Registered Candidates on Platform Numbers |
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| State Presence Numbers |
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Extracted by Screener AI
Documents
Announcements
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Bagging/Receiving of orders/contracts
9 June 2026 - Received Power Grid facility management work order worth Rs. 62.64 lakh until June 30, 2028.
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Press Release
8 June 2026 - Audited FY26 standalone results: income ₹109.88 Cr, PAT ₹5.98 Cr; 25 tenders won worth ₹24.13 Cr.
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Analysts/Institutional Investor Meet/Con. Call Updates
6 June 2026 - Investor/analyst earnings call scheduled for June 11, 2026 at 4:00 PM on H2 FY26 audited results.
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Statement of deviation(s) or variation(s) under Reg. 32
3 June 2026 - No deviation in IPO proceeds use for half year ended 31 March 2026; auditor certificate attached.
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Outcome of Board Meeting
3 June 2026 - Board approved FY2026 audited standalone results; auditors issued unmodified opinion.
Annual reports
Concalls
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Sep 2025TranscriptAI SummaryPPT
Business Overview:[1]
HSOSL is an ISO 9001:2015 certified,
technology-based consulting firm, involved
in Tech based human resource outsourcing business which focuses on end-to-end
solution. It offers a wide array of services
such as Recruitment, Payroll, Onboarding
and flexible staffing under the brand name
White Force