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

Indian (NIFTY) HR Services Industry Analysis

UpdatedJan 30, 2026
DataAggregated Company Financials
Companies17
  • 7D-0.4%
  • 3M-13.9%
  • 1Y-51.9%
  • YTDn/a

The HR Services industry has been flat over the last week, but TeamLease Services has lost 3.7%. As for the longer term, the industry has declined 53% 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
Fri, 30 Jan 2026₹80.0b₹306.7b₹1.8b17.3x45.6x0.3x
Sun, 28 Dec 2025₹84.7b₹306.7b₹1.7b18.5x48.7x0.3x
Tue, 25 Nov 2025₹87.5b₹306.7b₹1.7b19x50.1x0.3x
Thu, 23 Oct 2025₹93.7b₹299.2b₹2.9b19.5x32.4x0.3x
Sat, 20 Sep 2025₹100.4b₹299.2b₹2.9b21.8x34.9x0.3x
Mon, 18 Aug 2025₹96.2b₹298.8b₹2.9b19x33.6x0.3x
Wed, 16 Jul 2025₹140.7b₹294.7b₹2.8b18x50.4x0.5x
Fri, 13 Jun 2025₹140.4b₹290.8b₹2.7b22.1x51.4x0.5x
Sun, 11 May 2025₹107.4b₹342.1b₹5.9b20.5x18.2x0.3x
Tue, 08 Apr 2025₹148.4b₹342.0b₹5.9b21x25.2x0.4x
Thu, 06 Mar 2025₹150.9b₹342.0b₹5.9b20.8x25.7x0.4x
Sat, 01 Feb 2025₹161.0b₹341.4b₹5.9b23.9x27.5x0.5x
Mon, 30 Dec 2024₹177.7b₹329.2b₹5.6b32.5x31.9x0.5x
Wed, 27 Nov 2024₹172.4b₹329.2b₹5.6b32.4x30.9x0.5x
Fri, 25 Oct 2024₹179.7b₹317.6b₹5.3b29.4x33.8x0.6x
Sun, 22 Sep 2024₹206.8b₹317.5b₹5.3b31x39.1x0.7x
Tue, 20 Aug 2024₹179.6b₹317.5b₹5.3b23.4x33.9x0.6x
Thu, 18 Jul 2024₹163.0b₹309.1b₹4.8b26.5x34x0.5x
Sat, 15 Jun 2024₹159.7b₹309.1b₹4.8b21.6x33.3x0.5x
Mon, 13 May 2024₹170.0b₹302.4b₹4.8b23.5x35.1x0.6x
Wed, 10 Apr 2024₹156.3b₹297.4b₹4.2b19.1x37.5x0.5x
Fri, 08 Mar 2024₹140.6b₹297.4b₹4.2b19.2x33.7x0.5x
Sun, 04 Feb 2024₹140.4b₹297.4b₹4.2b19.4x33.7x0.5x
Tue, 02 Jan 2024₹148.8b₹289.3b₹4.4b17.5x33.6x0.5x
Thu, 30 Nov 2023₹134.5b₹289.3b₹4.4b16.6x30.4x0.5x
Sat, 28 Oct 2023₹118.4b₹279.7b₹4.1b16.9x28.6x0.4x
Mon, 25 Sep 2023₹121.6b₹279.8b₹4.1b20.7x29.4x0.4x
Wed, 23 Aug 2023₹113.4b₹279.9b₹4.2b16.5x27.2x0.4x
Fri, 21 Jul 2023₹117.4b₹268.2b₹4.2b15.6x28.2x0.4x
Sun, 18 Jun 2023₹111.5b₹260.5b₹3.9b14.1x28.7x0.4x
Tue, 16 May 2023₹99.8b₹251.1b₹4.3b17.8x23.4x0.4x
Thu, 13 Apr 2023₹97.1b₹251.0b₹4.2b17.5x22.9x0.4x
Sat, 11 Mar 2023₹101.7b₹251.0b₹4.2b15.6x23.9x0.4x
Mon, 06 Feb 2023₹99.7b₹250.4b₹4.3b16.2x23.4x0.4x
Price to Earnings Ratio

23.4x


Total Market Cap: ₹99.7bTotal Earnings: ₹4.3bTotal Revenue: ₹250.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian HR Services Industry Price to Earnings3Y Average 32.9x202420252026
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 45.5x which is higher than its 3-year average PE of 32.9x.
  • 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 26% per year over the last three years.
  • Meanwhile revenues for these companies have grown 7.0% 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 Market0.30%
Industrials2.12%
Professional Services-0.58%
HR Services-0.41%
Research and Consulting Services-0.72%
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₹205.122.3%
+₹692.3m		-65.0%PE62.8x
VINSYS Vinsys IT Services India₹371.253.9%
+₹205.5m		-9.3%PE19.5x
SPECTSTM Spectrum Talent Management₹87.554.7%
+₹91.2m		-45.3%PS0.1x
IPSL Integrated Personnel Services₹279.001.9%
+₹43.9m		-8.2%PE26.8x
544393 Infonative Solutions₹30.9810.8%
+₹35.9m		n/aPE9.6x

Latest News

TEAMLEASE
₹1,394.40
TeamLease Services
7D
-3.7%
1Y
-42.7%

TEAMLEASE: Leadership Transition Will Drive Long Term Earnings Quality Reassessment

Analysts have reduced their price target for TeamLease Services from ₹1,900 to ₹1,600, citing updated assumptions around revenue growth, profit margins, and a lower future P/E multiple. What's in the News Board meeting scheduled on February 4, 2026 at 13:00 Indian Standard Time to consider unaudited standalone and consolidated financial results for the quarter ended December 31, 2025 (company filing).
QUESS
₹205.12
Quess
7D
2.3%
1Y
-65.0%

QUESS: Leadership Changes And Upcoming Dividend Decision Will Support Future Share Gains

Analysts have trimmed their price target on Quess from ₹342.75 to ₹330.88, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E that modestly adjust the risk reward profile. What's in the News A board meeting is scheduled on January 28, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, and to consider declaration of an interim dividend for FY 2025-26 (company filing).
AISL
₹79.00
ANI Integrated Services
7D
-5.0%
1Y
-50.3%
501370
₹117.00
Walchand PeopleFirst
7D
-8.2%
1Y
-26.9%
543806
₹366.85
Itcons E-Solutions
7D
-9.5%
1Y
-35.5%
SPECTSTM
₹87.55
Spectrum Talent Management
7D
4.7%
1Y
-45.3%

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
₹82.15
EMA Partners India
7D
1.4%
1Y
-35.2%

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

Dec 30
Little Excitement Around EMA Partners India Limited's (NSE:EMAPARTNER) Earnings
DYNAMIC
₹138.15
Dynamic Services & Security
7D
-2.2%
1Y
-55.2%
IPSL
₹279.00
Integrated Personnel Services
7D
1.9%
1Y
-8.2%
SERVICE
₹41.50
Service Care
7D
2.0%
1Y
-38.1%
VINSYS
₹371.25
Vinsys IT Services India
7D
3.9%
1Y
-9.3%

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
544393
₹30.98
Infonative Solutions
7D
10.8%
1Y
n/a
ACEINTEG
₹18.84
Ace Integrated Solutions
7D
-5.3%
1Y
-28.9%
AARVI
₹123.29
Aarvi Encon
7D
1.4%
1Y
3.7%
WHITEFORCE
₹50.00
Happy Square Outsourcing Services
7D
-4.4%
1Y
n/a
INFOLLION
₹356.30
Infollion Research Services
7D
-2.5%
1Y
-19.1%

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