Narrative Update • Sep 09
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Indian (NIFTY) HR Services Industry Analysis
UpdatedSep 11, 2026
DataAggregated Company Financials
Companies19
- 7D-1.4%
- 3M16.9%
- 1Y-1.7%
- YTDn/a
Over the last 7 days, the HR Services industry has dropped 1.4%, driven by a pullback from Quess of 3.1%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 11% 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, 11 Sep 2026 | ₹107.3b | ₹332.3b | ₹5.9b | 14.9x | 18.1x | 0.3x |
| Sun, 09 Aug 2026 | ₹101.2b | ₹333.1b | ₹6.3b | 14.2x | 16.1x | 0.3x |
| Tue, 07 Jul 2026 | ₹100.7b | ₹324.7b | ₹5.7b | 13.5x | 17.6x | 0.3x |
| Thu, 04 Jun 2026 | ₹86.9b | ₹324.6b | ₹5.7b | 14x | 15.2x | 0.3x |
| Sat, 02 May 2026 | ₹82.4b | ₹319.8b | ₹2.4b | 16x | 34x | 0.3x |
| Mon, 30 Mar 2026 | ₹74.3b | ₹319.6b | ₹2.4b | 12.7x | 30.6x | 0.2x |
| Wed, 25 Feb 2026 | ₹76.0b | ₹309.9b | ₹2.1b | 16.2x | 36.6x | 0.2x |
| Fri, 23 Jan 2026 | ₹80.3b | ₹306.7b | ₹1.8b | 16.9x | 45.8x | 0.3x |
| Sun, 21 Dec 2025 | ₹84.2b | ₹306.7b | ₹1.7b | 18x | 48.2x | 0.3x |
| Tue, 18 Nov 2025 | ₹88.0b | ₹303.1b | ₹2.9b | 19.4x | 30.1x | 0.3x |
| Thu, 16 Oct 2025 | ₹93.0b | ₹299.1b | ₹2.9b | 19.5x | 32.4x | 0.3x |
| Sat, 13 Sep 2025 | ₹99.7b | ₹299.2b | ₹2.9b | 20.5x | 34.7x | 0.3x |
| Mon, 11 Aug 2025 | ₹96.3b | ₹298.3b | ₹2.9b | 17.5x | 33.8x | 0.3x |
| Wed, 09 Jul 2025 | ₹140.4b | ₹293.7b | ₹2.7b | 21x | 51.4x | 0.5x |
| Fri, 06 Jun 2025 | ₹106.5b | ₹290.3b | ₹2.7b | 22.9x | 39.6x | 0.4x |
| Sun, 04 May 2025 | ₹110.2b | ₹342.1b | ₹5.9b | 21.9x | 18.7x | 0.3x |
| Tue, 01 Apr 2025 | ₹153.7b | ₹342.0b | ₹5.9b | 20.5x | 26.1x | 0.4x |
| Thu, 27 Feb 2025 | ₹151.8b | ₹342.0b | ₹5.9b | 24.7x | 25.8x | 0.4x |
| Sat, 25 Jan 2025 | ₹166.7b | ₹329.9b | ₹5.7b | 25.5x | 29.1x | 0.5x |
| Mon, 23 Dec 2024 | ₹183.3b | ₹329.2b | ₹5.6b | 33.1x | 32.8x | 0.6x |
| Wed, 20 Nov 2024 | ₹172.7b | ₹328.9b | ₹5.6b | 32.8x | 31x | 0.5x |
| Fri, 18 Oct 2024 | ₹186.6b | ₹317.6b | ₹5.3b | 32x | 35.1x | 0.6x |
| Sun, 15 Sep 2024 | ₹199.3b | ₹317.5b | ₹5.3b | 28.8x | 37.6x | 0.6x |
| Tue, 13 Aug 2024 | ₹180.4b | ₹317.3b | ₹5.3b | 25.6x | 34.1x | 0.6x |
| Thu, 11 Jul 2024 | ₹165.9b | ₹309.1b | ₹4.8b | 24.5x | 34.6x | 0.5x |
| Sat, 08 Jun 2024 | ₹154.7b | ₹308.7b | ₹4.8b | 22.4x | 32x | 0.5x |
| Mon, 06 May 2024 | ₹167.7b | ₹297.4b | ₹4.2b | 23.8x | 40.2x | 0.6x |
| Wed, 03 Apr 2024 | ₹147.5b | ₹297.4b | ₹4.2b | 18.6x | 35.4x | 0.5x |
| Fri, 01 Mar 2024 | ₹143.7b | ₹297.4b | ₹4.2b | 19.8x | 34.4x | 0.5x |
| Sun, 28 Jan 2024 | ₹140.3b | ₹289.3b | ₹4.4b | 19.7x | 32x | 0.5x |
| Tue, 26 Dec 2023 | ₹142.2b | ₹289.3b | ₹4.4b | 15.9x | 32.1x | 0.5x |
| Thu, 23 Nov 2023 | ₹132.6b | ₹289.4b | ₹4.4b | 15.2x | 30x | 0.5x |
| Sat, 21 Oct 2023 | ₹124.2b | ₹279.7b | ₹4.1b | 16.8x | 30x | 0.4x |
| Mon, 18 Sep 2023 | ₹128.2b | ₹279.8b | ₹4.1b | 19.6x | 31x | 0.5x |
Price to Earnings Ratio
31x
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 18.1x which is lower than its 3-year average PE of 32.7x.
- The industry is trading close to its 3-year average PS ratio of 0.42x.
Past Earnings Growth
- The earnings for companies in the Human Resource and Employment Services industry have grown 13% per year over the last three years.
- Revenues for these companies have grown 5.9% 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 | -0.87% | |
| Industrials | 0.11% | |
| Professional Services | -3.81% | |
| HR Services | -1.38% | |
| Research and Consulting Services | -4.11% | |
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 | |
|---|---|---|---|---|---|
| INNOVISION Innovision | ₹260.35 | 2.1% +₹129.8m | n/a | PE35.6x | |
| SPECTSTM Spectrum Talent Management | ₹59.25 | 5.8% +₹75.1m | -44.3% | PE11.2x | |
| 500371 Samtel India | ₹39.45 | 5.3% +₹14.2m | n/a | PE47.3x | |
| 544393 Infonative Solutions | ₹35.90 | 0.5% +₹2.3m | 12.2% | PE14.9x |