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Swing Capital

Team Lease Services Ltd

NSE: TEAMLEASE BSE: 539658

Team Lease Services provides employment related services. It provides solutions for staffing, recruitment, training, payroll processing and regulatory compliance.

₹1,340
52W: ₹1063 — ₹2499
PE 22.6 · Book ₹540 · +148% vs book
Market Cap₹2,247 Cr
Stock P/E22.6Price to Earnings
ROCE11.6%Return on Capital
ROE11.2%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Promoter holding is low: 31.1%
  • −Tax rate seems low
  • −Company has a low return on equity of 12.2% over last 3 years.
  • −Earnings include an other income of Rs.58.6 Cr.

Shareholding Pattern

Promoters31.11%
FIIs6.76%
DIIs49.6%
Public12.5%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters31.61%31.61%31.61%31.61%31.61%31.11%▼0.531.11%31.11%
FIIs28.72%24.72%▼4.021.86%▼2.911.01%▼10.87.69%▼3.36.68%▼1.06.35%▼0.36.76%▲0.4
DIIs31.81%34.61%▲2.837.11%▲2.547.65%▲10.550.25%▲2.650.72%▲0.549.84%▼0.949.6%▼0.2
Public7.84%9.04%▲1.29.38%▲0.39.69%▲0.310.41%▲0.711.46%▲1.112.68%▲1.212.5%▼0.2

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales2,0522,2222,2122,3832,5762,6862,5922,6402,7502,720
Expenses2,0332,1992,1892,3622,5542,6612,5702,6172,7282,700
Operating Profit20232321222521242220
OPM %1%1%1%1%1%1%1%1%1%1%
Net Profit25292427222621252130
EPS ₹15.1117.3714.2715.9113.2715.6412.4914.812.5917.78

AI Insights

Revenue Trend

TTM revenue at ₹10,702Cr, up 4.6% YoY. OPM at 1%.

Debt Position

Borrowings at ₹76Cr. Debt-to-equity ratio: 0.09x. Healthy balance sheet.

Institutional Flow

DIIs: 49.6% (+21.79pp change). FIIs: 6.76% (-26.10pp change). Promoters hold 31.11%.

Margin & Efficiency

ROCE declining from 16% (Mar 2014) to 12% (Mar 2025). Working capital days: 0.

Valuation

PE 22.6x with 11.6% ROCE. Price is 148% above book value of ₹540. Dividend yield: 0%.

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