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Indian (NIFTY) HR Services Industry Analysis

UpdatedFeb 10, 2026
DataAggregated Company Financials
Companies17
  • 7D0.7%
  • 3M-10.2%
  • 1Y-51.9%
  • YTDn/a

Over the last 7 days, the HR Services industry has remained flat, although notably Vinsys IT Services India declined by 8.6%. Unfortunately though, the industry is down 53% over the past 12 months. Earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Feb 2026₹81.2b₹306.7b₹2.0b16.6x40.2x0.3x
Thu, 08 Jan 2026₹85.9b₹306.7b₹1.7b17.3x49.3x0.3x
Sat, 06 Dec 2025₹84.9b₹306.7b₹1.7b19.2x48.6x0.3x
Mon, 03 Nov 2025₹91.9b₹300.5b₹2.9b18.6x31.7x0.3x
Wed, 01 Oct 2025₹97.1b₹299.1b₹2.9b20.4x33.8x0.3x
Fri, 29 Aug 2025₹97.2b₹298.8b₹2.9b18.7x33.9x0.3x
Sun, 27 Jul 2025₹141.5b₹294.6b₹2.8b23.8x51.2x0.5x
Tue, 24 Jun 2025₹139.3b₹291.0b₹2.8b21.3x50.2x0.5x
Thu, 22 May 2025₹113.0b₹286.0b₹2.6b24.7x42.9x0.4x
Sat, 19 Apr 2025₹108.3b₹342.1b₹5.9b21x18.4x0.3x
Mon, 17 Mar 2025₹149.4b₹342.0b₹5.9b19.3x25.4x0.4x
Wed, 12 Feb 2025₹156.5b₹341.7b₹5.9b24.4x26.7x0.5x
Fri, 10 Jan 2025₹171.4b₹329.2b₹5.6b31.1x30.7x0.5x
Sun, 08 Dec 2024₹182.9b₹329.2b₹5.6b32.5x32.8x0.6x
Tue, 05 Nov 2024₹179.3b₹321.9b₹5.5b31.9x32.5x0.6x
Thu, 03 Oct 2024₹194.9b₹317.5b₹5.3b31.4x36.8x0.6x
Sat, 31 Aug 2024₹193.4b₹317.5b₹5.3b25.9x36.5x0.6x
Mon, 29 Jul 2024₹186.0b₹309.1b₹4.8b25.3x38.8x0.6x
Wed, 26 Jun 2024₹160.5b₹309.1b₹4.8b24.3x33.5x0.5x
Fri, 24 May 2024₹163.5b₹307.1b₹4.9b22x33.3x0.5x
Sun, 21 Apr 2024₹166.7b₹297.4b₹4.2b21.2x40x0.6x
Tue, 19 Mar 2024₹137.3b₹297.4b₹4.2b18.5x32.9x0.5x
Thu, 15 Feb 2024₹141.1b₹297.4b₹4.2b17.2x33.8x0.5x
Sat, 13 Jan 2024₹149.2b₹289.3b₹4.4b19.7x33.7x0.5x
Mon, 11 Dec 2023₹129.8b₹289.3b₹4.4b16.4x29.3x0.4x
Wed, 08 Nov 2023₹123.5b₹284.6b₹4.4b16.3x27.8x0.4x
Fri, 06 Oct 2023₹122.4b₹279.8b₹4.1b18x29.6x0.4x
Sun, 03 Sep 2023₹122.1b₹279.9b₹4.2b16.9x29.3x0.4x
Tue, 01 Aug 2023₹114.1b₹272.3b₹4.2b15.5x27.3x0.4x
Thu, 29 Jun 2023₹114.6b₹265.3b₹4.0b17.2x28.4x0.4x
Sat, 27 May 2023₹101.9b₹259.6b₹3.7b16.4x27.3x0.4x
Mon, 24 Apr 2023₹96.8b₹251.0b₹4.2b16.8x22.8x0.4x
Wed, 22 Mar 2023₹95.6b₹251.0b₹4.2b15.6x22.5x0.4x
Fri, 17 Feb 2023₹103.5b₹250.8b₹4.3b13.8x24.4x0.4x
Price to Earnings Ratio

24.4x


Total Market Cap: ₹103.5bTotal Earnings: ₹4.3bTotal Revenue: ₹250.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian HR Services Industry Price to Earnings3Y Average 33.1x202420252026
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 40.3x which is higher than its 3-year average PE of 33.1x.
  • 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 22% per year over the last three years.
  • Meanwhile revenues for these companies have grown 6.9% 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 Market4.09%
Industrials5.66%
Professional Services1.13%
HR Services0.68%
Research and Consulting Services3.30%
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
QUESS Quess₹211.081.0%
+₹308.8m		-66.4%PE50.8x
AISL ANI Integrated Services₹78.005.4%
+₹46.7m		-36.8%PE10.6x
INFOLLION Infollion Research Services₹359.801.2%
+₹42.7m		-13.1%PE25.3x
EMAPARTNER EMA Partners India₹91.800.9%
+₹18.6m		-14.4%PE16.9x
AARVI Aarvi Encon₹130.920.7%
+₹13.6m		8.6%PE13.5x

Latest News

AISL
₹78.00
ANI Integrated Services
7D
5.4%
1Y
-36.8%
TEAMLEASE
₹1,412.50
TeamLease Services
7D
-1.0%
1Y
-35.7%

TeamLease Services Limited Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year

Feb 07
TeamLease Services Limited Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year
QUESS
₹211.08
Quess
7D
1.0%
1Y
-66.4%

QUESS: Leadership Appointments And Interim Dividend Will Support Future Share Gains

Narrative Update on Quess The analyst price target for Quess has been revised from ₹330.88 to ₹297.88 as analysts now assume slightly softer revenue growth, a lower profit margin and a modestly reduced future P/E multiple, partly offset by a lower discount rate. What's in the News The board approved an interim dividend of ₹5 per equity share, equal to 50% of the ₹10 face value, for FY 2025-26, with a record date of February 6, 2026 and payment expected on or before February 16, 2026 (company filing).
VINSYS
₹306.00
Vinsys IT Services India
7D
-10.8%
1Y
-22.8%
EMAPARTNER
₹91.80
EMA Partners India
7D
0.9%
1Y
-14.4%

Returns At EMA Partners India (NSE:EMAPARTNER) Appear To Be Weighed Down

Feb 04
Returns At EMA Partners India (NSE:EMAPARTNER) Appear To Be Weighed Down
AARVI
₹130.92
Aarvi Encon
7D
0.7%
1Y
8.6%
500371
₹11.17
Samtel India
7D
10.2%
1Y
n/a
SERVICE
₹49.00
Service Care
7D
-1.9%
1Y
-23.4%
501370
₹116.55
Walchand PeopleFirst
7D
-4.5%
1Y
-27.2%
543806
₹385.25
Itcons E-Solutions
7D
-3.9%
1Y
-27.2%
SPECTSTM
₹85.95
Spectrum Talent Management
7D
-1.9%
1Y
-46.7%

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

Jan 06
Spectrum Talent Management (NSE:SPECTSTM) Has A Pretty Healthy Balance Sheet
DYNAMIC
₹125.00
Dynamic Services & Security
7D
-5.3%
1Y
-51.7%
IPSL
₹250.45
Integrated Personnel Services
7D
-3.7%
1Y
-22.7%
544393
₹31.20
Infonative Solutions
7D
0.5%
1Y
n/a
INFOLLION
₹359.80
Infollion Research Services
7D
1.2%
1Y
-13.1%

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