Narrative Update • Jun 09
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Indian (NIFTY) HR Services Industry Analysis
UpdatedJun 12, 2026
DataAggregated Company Financials
Companies19
- 7D4.5%
- 3M23.2%
- 1Y-24.9%
- YTDn/a
In the last week, the HR Services industry is up 4.5%, with Quess up 13%. In the same time, Vinsys IT Services India was down 5.7%. In contrast, the industry has lost 25% in the last 12 months. Looking forward, earnings are forecast to grow by 13% annually.
Industry Valuation and Performance
Has the Indian HR Services Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 12 Jun 2026 | ₹91.3b | ₹324.7b | ₹5.7b | 13.2x | 16x | 0.3x |
| Sun, 10 May 2026 | ₹87.8b | ₹322.2b | ₹4.0b | 15.9x | 21.8x | 0.3x |
| Tue, 07 Apr 2026 | ₹76.4b | ₹319.6b | ₹2.4b | 13.8x | 31.5x | 0.2x |
| Thu, 05 Mar 2026 | ₹72.3b | ₹309.9b | ₹2.1b | 15.2x | 34.8x | 0.2x |
| Sat, 31 Jan 2026 | ₹80.3b | ₹305.8b | ₹1.9b | 17.4x | 42.6x | 0.3x |
| Mon, 29 Dec 2025 | ₹84.7b | ₹306.7b | ₹1.7b | 18.5x | 48.7x | 0.3x |
| Wed, 26 Nov 2025 | ₹88.6b | ₹306.7b | ₹1.7b | 19.4x | 50.7x | 0.3x |
| Fri, 24 Oct 2025 | ₹92.9b | ₹299.2b | ₹2.9b | 19.3x | 32.2x | 0.3x |
| Sun, 21 Sep 2025 | ₹100.4b | ₹299.2b | ₹2.9b | 21.8x | 34.9x | 0.3x |
| Tue, 19 Aug 2025 | ₹97.3b | ₹298.8b | ₹2.9b | 18.7x | 34x | 0.3x |
| Thu, 17 Jul 2025 | ₹143.8b | ₹294.6b | ₹2.8b | 24.8x | 52.1x | 0.5x |
| Sat, 14 Jun 2025 | ₹141.3b | ₹290.8b | ₹2.7b | 21.6x | 51.7x | 0.5x |
| Mon, 12 May 2025 | ₹107.4b | ₹342.1b | ₹5.9b | 20.5x | 18.2x | 0.3x |
| Wed, 09 Apr 2025 | ₹150.3b | ₹342.0b | ₹5.9b | 20.8x | 25.6x | 0.4x |
| Fri, 07 Mar 2025 | ₹152.6b | ₹342.0b | ₹5.9b | 19.8x | 26x | 0.4x |
| Sun, 02 Feb 2025 | ₹161.0b | ₹341.4b | ₹5.9b | 23.9x | 27.5x | 0.5x |
| Tue, 31 Dec 2024 | ₹178.3b | ₹329.2b | ₹5.6b | 32.5x | 32x | 0.5x |
| Thu, 28 Nov 2024 | ₹180.0b | ₹329.2b | ₹5.6b | 32.3x | 32.3x | 0.5x |
| Sat, 26 Oct 2024 | ₹174.9b | ₹317.6b | ₹5.3b | 29x | 32.9x | 0.6x |
| Mon, 23 Sep 2024 | ₹206.8b | ₹317.5b | ₹5.3b | 31x | 39.1x | 0.7x |
| Wed, 21 Aug 2024 | ₹182.0b | ₹317.5b | ₹5.3b | 23.6x | 34.4x | 0.6x |
| Fri, 19 Jul 2024 | ₹161.1b | ₹309.1b | ₹4.8b | 25.9x | 33.6x | 0.5x |
| Sun, 16 Jun 2024 | ₹159.7b | ₹309.1b | ₹4.8b | 21.6x | 33.3x | 0.5x |
| Tue, 14 May 2024 | ₹171.5b | ₹302.4b | ₹4.8b | 23.8x | 35.4x | 0.6x |
| Thu, 11 Apr 2024 | ₹159.7b | ₹297.4b | ₹4.2b | 19.1x | 38.3x | 0.5x |
| Sat, 09 Mar 2024 | ₹141.0b | ₹297.4b | ₹4.2b | 19.2x | 33.8x | 0.5x |
| Mon, 05 Feb 2024 | ₹140.4b | ₹297.4b | ₹4.2b | 19.4x | 33.7x | 0.5x |
| Wed, 03 Jan 2024 | ₹145.2b | ₹289.3b | ₹4.4b | 17.6x | 32.8x | 0.5x |
| Fri, 01 Dec 2023 | ₹133.0b | ₹289.3b | ₹4.4b | 16.7x | 30x | 0.5x |
| Sun, 29 Oct 2023 | ₹120.5b | ₹279.7b | ₹4.1b | 16.9x | 29.2x | 0.4x |
| Tue, 26 Sep 2023 | ₹121.5b | ₹279.8b | ₹4.1b | 20.3x | 29.3x | 0.4x |
| Thu, 24 Aug 2023 | ₹116.6b | ₹279.9b | ₹4.2b | 17.1x | 28x | 0.4x |
| Sat, 22 Jul 2023 | ₹115.5b | ₹268.2b | ₹4.2b | 15.6x | 27.7x | 0.4x |
| Mon, 19 Jun 2023 | ₹111.5b | ₹260.5b | ₹3.9b | 14.1x | 28.7x | 0.4x |
Price to Earnings Ratio
28.7x
Current Industry PE
- Investors are pessimistic on the Indian Human Resource and Employment Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 16.0x which is lower than its 3-year average PE of 33.8x.
- The industry is trading close to its 3-year average PS ratio of 0.43x.
Past Earnings Growth
- The earnings for companies in the Human Resource and Employment Services industry have grown 14% per year over the last three years.
- Revenues for these companies have grown 7.6% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Comparison
How does Indian HR Services compare with similar industries?
| IN Market | -2.13% | |
| Industrials | -3.08% | |
| Professional Services | -2.39% | |
| HR Services | 4.47% | |
| Research and Consulting Services | -0.67% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| QUESS Quess | ₹244.02 | 3.5% +₹1.2b | -21.8% | PE16.5x | |
| TEAMLEASE TeamLease Services | ₹1.41k | 1.4% +₹332.0m | -29.0% | PE16.9x | |
| AARVI Aarvi Encon | ₹148.29 | 14.5% +₹278.0m | 35.0% | PE12.5x | |
| IPSL Integrated Personnel Services | ₹260.00 | 12.8% +₹254.3m | -3.4% | PE20.4x | |
| 500371 Samtel India | ₹54.36 | 10.4% +₹36.1m | n/a | PE653.1x |
