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Swing Capital

Hinduja Global Solutions Ltd

NSE: HGS BSE: 532859

Hinduja Global Solutions Ltd is engaged in the business of business process management (BPM). It offers voice and non-voice based services such as contact center solutions and back office transaction processing across the globe.[1]

₹404
52W: ₹342 — ₹629
PE 0 · Book ₹572 · -29% vs book
Market Cap₹1,878 Cr
Stock P/E—Price to Earnings
ROCE3.08%Return on Capital
ROE11%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Stock is trading at 0.72 times its book value
  • +Company's working capital requirements have reduced from 176 days to 15.2 days

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -4.39% over past five years.
  • −Company has a low return on equity of -0.91% over last 3 years.
  • −Contingent liabilities of Rs.2,028 Cr.
  • −Earnings include an other income of Rs.190 Cr.

Shareholding Pattern

Promoters67.99%
FIIs11.77%
DIIs0.01%
Public20.19%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters67.99%67.99%67.99%67.99%67.99%67.99%67.99%67.99%
FIIs12.51%12.88%▲0.411.98%▼0.911.93%▼0.111.83%▼0.111.83%11.82%▼0.011.77%▼0.1
DIIs0.23%0.24%▲0.00.24%0.01%▼0.20.01%0.01%0.01%0.01%
Public19.27%18.89%▼0.419.79%▲0.920.06%▲0.320.15%▲0.120.17%▲0.020.13%▼0.020.19%▲0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales405408416411423430447462469446
Expenses398385408456430433437466471455
Operating Profit7238-45-7-310-4-3-9
OPM %2%6%2%-11%-2%-1%2%-1%-1%-2%
Net Profit-19-2823-85-76-55-107-62-27-52
EPS ₹-4.02-6.014.91-18.31-16.31-11.78-22.98-13.36-5.82-11.25

AI Insights

Revenue Trend

TTM revenue at ₹1,824Cr, up 6.6% YoY. OPM at 0%.

Debt Position

Borrowings at ₹1,065Cr. Debt-to-equity ratio: 0.41x. Healthy balance sheet.

Capex Cycle

CWIP at ₹1Cr (0% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.01% (-0.27pp change). FIIs: 11.77% (-0.74pp change). Promoters hold 67.99%.

Margin & Efficiency

ROCE declining from 23% (Mar 2014) to -3% (Mar 2025). Working capital days: 15.

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