Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) HR Services Industry Analysis

UpdatedJan 19, 2026
DataAggregated Company Financials
Companies17
  • 7D-2.7%
  • 3M-13.4%
  • 1Y-56.1%
  • YTDn/a

Over the last 7 days, the HR Services industry has dropped 2.7%, driven by a pullback from Quess of 3.3%. The industry has fallen 56% in the last year. As for the next few years, earnings are expected to grow by 33% per annum.

Industry Valuation and Performance

Has the Indian HR Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 19 Jan 2026₹81.8b₹306.7b₹1.8b17x46.7x0.3x
Wed, 17 Dec 2025₹84.3b₹306.7b₹1.7b18.5x48.2x0.3x
Fri, 14 Nov 2025₹87.3b₹302.9b₹2.9b19.8x29.8x0.3x
Sun, 12 Oct 2025₹94.8b₹299.1b₹2.9b18.8x33x0.3x
Tue, 09 Sep 2025₹98.1b₹298.8b₹2.9b18.7x34.3x0.3x
Thu, 07 Aug 2025₹129.9b₹298.3b₹2.9b17.3x45.6x0.4x
Sat, 05 Jul 2025₹141.0b₹293.7b₹2.8b25x51.2x0.5x
Mon, 02 Jun 2025₹107.0b₹290.3b₹2.7b22.5x39.8x0.4x
Wed, 30 Apr 2025₹110.9b₹342.1b₹5.9b22.3x18.8x0.3x
Fri, 28 Mar 2025₹156.9b₹342.0b₹5.9b20.5x26.7x0.5x
Sun, 23 Feb 2025₹152.5b₹342.0b₹5.9b24.7x26x0.4x
Tue, 21 Jan 2025₹172.7b₹329.2b₹5.6b30.6x31x0.5x
Thu, 19 Dec 2024₹189.0b₹329.2b₹5.6b32.5x33.9x0.6x
Sat, 16 Nov 2024₹170.2b₹327.5b₹5.5b32.9x30.8x0.5x
Mon, 14 Oct 2024₹186.6b₹317.5b₹5.3b32.6x35.2x0.6x
Wed, 11 Sep 2024₹201.5b₹317.5b₹5.3b26.7x38.1x0.6x
Fri, 09 Aug 2024₹174.2b₹317.3b₹5.3b25.8x32.9x0.5x
Sun, 07 Jul 2024₹166.4b₹309.1b₹4.8b24.4x34.7x0.5x
Tue, 04 Jun 2024₹150.7b₹307.1b₹4.9b22x30.6x0.5x
Thu, 02 May 2024₹168.9b₹297.4b₹4.2b23.7x40.5x0.6x
Sat, 30 Mar 2024₹139.5b₹297.4b₹4.2b18.3x33.4x0.5x
Mon, 26 Feb 2024₹146.6b₹297.4b₹4.2b20.7x35.2x0.5x
Wed, 24 Jan 2024₹141.8b₹289.3b₹4.4b18.7x32.2x0.5x
Fri, 22 Dec 2023₹138.4b₹289.3b₹4.4b15.8x31.2x0.5x
Sun, 19 Nov 2023₹131.3b₹288.6b₹4.4b14.6x30.1x0.5x
Tue, 17 Oct 2023₹124.8b₹279.7b₹4.1b17.4x30.2x0.4x
Thu, 14 Sep 2023₹123.4b₹279.9b₹4.2b18.7x29.7x0.4x
Sat, 12 Aug 2023₹161.8b₹278.9b₹4.0b16.3x40.3x0.6x
Mon, 10 Jul 2023₹116.0b₹265.3b₹4.0b16.9x28.7x0.4x
Wed, 07 Jun 2023₹104.3b₹260.1b₹3.7b16.2x27.9x0.4x
Fri, 05 May 2023₹95.1b₹251.0b₹4.2b17.2x22.4x0.4x
Sun, 02 Apr 2023₹97.7b₹251.0b₹4.2b17.5x23x0.4x
Tue, 28 Feb 2023₹101.9b₹250.8b₹4.2b15.1x24.1x0.4x
Thu, 26 Jan 2023₹104.2b₹240.1b₹4.2b21.2x25x0.4x
Price to Earnings Ratio

25x


Total Market Cap: ₹104.2bTotal Earnings: ₹4.2bTotal Revenue: ₹240.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian HR Services Industry Price to Earnings3Y Average 32.7x202420252026
Current Industry PE
  • Investors are optimistic on the Indian Human Resource and Employment Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 46.7x which is higher than its 3-year average PE of 32.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.45x.
Past Earnings Growth
  • The earnings for companies in the Human Resource and Employment Services industry have declined 25% per year over the last three years.
  • Meanwhile revenues for these companies have grown 8.5% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does Indian HR Services compare with similar industries?

IN Market0.026%
Industrials-1.93%
Professional Services-1.49%
HR Services-2.73%
Research and Consulting Services-5.38%
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?

CompanyLast Price7D1YValuation
DYNAMIC Dynamic Services & Security₹143.604.4%
+₹141.1m		-57.3%PE14.8x
EMAPARTNER EMA Partners India₹89.202.5%
+₹51.1m		n/aPE16.4x
500371 Samtel India₹6.9627.0%
+₹10.5m		n/aPS986.6x
ACEINTEG Ace Integrated Solutions₹20.110.1%
+₹204.0k		-31.5%PS5.9x

Latest News

543806
₹315.80
Itcons E-Solutions
7D
-22.2%
1Y
-51.3%
TEAMLEASE
₹1,527.60
TeamLease Services
7D
-0.8%
1Y
-43.4%

TEAMLEASE: Incoming CEO Transition Will Support Margins And Share Price Upside

Analysts now place TeamLease Services' fair value at ₹3,165.38, slightly below the previous ₹3,172.14. The revision reflects small tweaks to discount rate, revenue growth, profit margin and future P/E assumptions.
QUESS
₹206.00
Quess
7D
-3.3%
1Y
-68.7%

QUESS: New Leadership Appointments Will Support Share Gains From Undervalued Levels

Analysts have trimmed their fair value estimate for Quess from ₹349.11 to ₹342.75, reflecting slightly lower assumptions for revenue growth, profit margins and future P/E multiples. What's in the News Quess Corp.
SPECTSTM
₹77.10
Spectrum Talent Management
7D
-4.1%
1Y
-59.1%

Spectrum Talent Management (NSE:SPECTSTM) Has A Pretty Healthy Balance Sheet

Jan 06
Spectrum Talent Management (NSE:SPECTSTM) Has A Pretty Healthy Balance Sheet
EMAPARTNER
₹89.20
EMA Partners India
7D
2.5%
1Y
n/a

Little Excitement Around EMA Partners India Limited's (NSE:EMAPARTNER) Earnings

Dec 30
Little Excitement Around EMA Partners India Limited's (NSE:EMAPARTNER) Earnings
500371
₹6.96
Samtel India
7D
27.0%
1Y
n/a
DYNAMIC
₹143.60
Dynamic Services & Security
7D
4.4%
1Y
-57.3%
IPSL
₹270.00
Integrated Personnel Services
7D
-3.3%
1Y
-10.0%
VINSYS
₹334.85
Vinsys IT Services India
7D
-2.6%
1Y
-20.8%

Vinsys IT Services India (NSE:VINSYS) Has A Pretty Healthy Balance Sheet

Nov 27
Vinsys IT Services India (NSE:VINSYS) Has A Pretty Healthy Balance Sheet
ACEINTEG
₹20.11
Ace Integrated Solutions
7D
0.1%
1Y
-31.5%
AARVI
₹125.38
Aarvi Encon
7D
-6.1%
1Y
-3.4%
INFOLLION
₹373.90
Infollion Research Services
7D
-2.0%
1Y
-19.8%

We Don’t Think Infollion Research Services' (NSE:INFOLLION) Earnings Should Make Shareholders Too Comfortable

Oct 28
We Don’t Think Infollion Research Services' (NSE:INFOLLION) Earnings Should Make Shareholders Too Comfortable