Slides
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TeamLease Services Limited Corporate Presentation Q2 and H1 FY27 5th November 2026 Holistic Talent Solutions Partner Putting India to Work
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Table of Contents 01 02 03 04 Company Overview Business Segments Value Proposition Q2 & H1 FY27 Overview 3-8 9-17 18-21 22-29
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Company Overview
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A scaled talent solutions partner operating at the intersection of employment, employability and enterprise productivity TeamLease at a Glance TeamLease Services Limited is one of India’s leading talent solutions companies, offering staffing, apprenticeships, specialised talent solutions, HR Tech services to organisations across diverse industries and workforce categories About the company 25+ of operational experience Years Headcount from employment cluster 3,33,170+ as of Q2 FY27 % Revenue CAGR (FY22-26) 16.1 % PAT CAGR (FY22-26) 37.6 Free Cash as on 30th Sept 2026 350 Cr ROE (FY26) %13.5 Pincodes across PAN India 7,500+ People hired till date 2.6 mn+ Corp IDs across the spectrum of business 2,300+ FTE Productivity (Q2 FY27) 289 4 Core employees: Q2 FY27 2,790 Digital Engagements with Clients 1,000+
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5 Our Offerings Q2 FY27 Reg Tech Solutions Specialised StaffingApprenticeship HR Tech Solutions Ed Tech Solutions General Staffing Clients: 2,700 Revenue: Rs. 2,730 Cr Clients: 244 Revenue: Rs. 190 Cr Clients: 505 Revenue : Rs. 99 Cr Clients: 167 Revenue: Rs. 3.5 Cr Clients: 64 Revenue: Rs. 39 Cr Clients: 1,064 Revenue: Rs. 15 Cr
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Our Journey: First Staffing Company to be Listed in India 6 2017 • Expanding Capabilities • Acquired businesses across technology, business solutions and education. • Diversified service offerings through strategic investments. 2018-19 • Strengthening Capabilities • Invested in Avantis RegTech. • Expanded IT staffing through acquisitions. 2020 • Achieved full ownership of FW.com . • Increased stakes in EdTech and Avantis. 2021 • Market Leadership • Strengthened Board independence and corporate governance. • Became India’s largest IT staffing company by headcount and migrated its PF Trust to EPFO. 2022-26 • Shaping the Next Phase • Expanded into Singapore and the UAE • Acquired TSR Darashaw HR Tech Services to expand footprint into managed payroll businesses. • Appointed new CEO • Launched Hiretech, an AI-based search engine. Public Listing – February 2016 PAT (Rs. Cr) Covid Hit 2,851 3,041 3,624 4,448 5,201 4,882 6,480 7,870 9,322 11,156 11,791 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 24 66 74 98 35 79 39 112 113 110 141 Revenue (Rs. Cr)
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7 Our Footprint: Headcount A Strong and Scalable Pan-India Presence North East South West Region: Total Headcount (%) 29.8% 29.8% 7.2% 33.2% DOMESTIC & INTERNATIONAL PRESENCE D OM E STIC INDIA 28 States 8 Union Territories Presence across all IN TE RN A TION A L SINGAPORE DUBAI UNITED STATES &
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Experienced Leadership and Strong Governance Ashok Reddy Co-Founder & Whole Time Director and Executive Vice Chairman Suparna Mitra MD and CEO Narayan Ramachandran Chairman & Non- Executive Non-Independent Director Subramaniam Somasundaram Independent Director Mekin Maheshwari Independent Director Meenakshi Nevatia Independent Director Rajnarayan Ramakrishnan Independent Director Ms. Suparna Mitra brings over 30 years of leadership experience across retail, consumer businesses, digital commerce, and technology-led transformation. Formerly CEO of Titan’s Watches & Wearables Division, she drove strong business growth and category leadership, and currently serves on the boards of Swiggy and IIM Kozhikode. Mr. Ashok Reddy is a Co-founder and former MD & CEO, he has led TeamLease for over two decades, scaling it into a diversified HR services leader with pan-India operations, while driving expansion across staffing and various other businesses. Mr. Narayan Ramachandran is a distinguished finance leader with nearly 4 decades of experience across global banking, financial services, and institution building. Formerly CEO and Country Head of Morgan Stanley India and Chairman of RBL Bank, he has played a key role in building leading financial institutions and enterprises across sectors. Mr. Mekin Maheshwari is the Founder & CEO of Udhyam Learning Foundation and Co-founder of GAME, focused on fostering entrepreneurship and entrepreneurial mindsets across India. An early leader at Flipkart, he built and scaled its engineering and people functions, later serving as Chief People Officer, and is now an active angel investor and ecosystem builder. Ms. Meenakshi Nevatia is the Managing Director of Pfizer Limited and a seasoned business leader with over 30 years of experience across healthcare, pharmaceuticals, medical devices, and consulting. Prior to Pfizer, she led Stryker India as Managing Director and held senior global leadership roles at Novartis, including Country President for Thailand, following an early career with McKinsey & Company. Mr. Subramaniam Somasundaram is the former CFO of Titan Company Limited, with over 36 years of experience across finance, strategy, fundraising, M&A, and investor relations. He has held senior leadership roles in the telecom sector and serves on the boards of multiple companies, bringing extensive expertise in business transformation and financial stewardship. Mr. Rajnarayan Ramakrishnan is an advisor to Voltas (Tata Group) and a seasoned HR leader with nearly 40 years of experience across leading multinational and Indian organizations. Former CHRO of Titan Company Limited, he has also led global Talent Management and Leadership Development at Metro Cash & Carry, driving leadership excellence and organizational growth. Manish Sabharwal Co-Founder & Non Executive Non- Independent Director Mr. Manish Sabharwal has played a pivotal role in building TeamLease into one of India’s leading workforce solutions providers. A noted public policy thought leader, he has served on the boards of the RBI, CAG Advisory Board, and NCAER, and is widely recognized for his contributions to labour reforms, employability, and job creation in India. 8
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Business Segments
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General Staffing: At a Glance 10 Workforce Solutions Managed Services Associate Care Services Temporary Staffing Permanent Hiring Direct Commission Agent (DCA) / Gig Master Vendor Agreement Infrastructure Leasing IT Asset Management Hygiene Delight 01 Recruitment Open positions closed Delivery TAT within commitment Candidate quality Recruiter productivity Cost per hire 02 Onboarding Onboarding turnaround time KYC document completeness Background verification Dual-employment check Percentage digitally onboarded 03 Payroll Operations Associates paid on time Client & associate query TAT Payroll and compliance view Monthly inputs with no manual back-and-forth Digital payslips and support 04 Compliance PF, ESIC & GST remittances on time Challans shared after remittance CLRA & labour licences Legal notices and audits Pan-India compliance coverage 2,85,000 Associates deployed as of Q2FY27 Rs 700 PAPM As of Q2FY27 -5,500 Headcount attrition during Q2FY27 New Corp IDs in Q2FY27 32 ASSOCIATE LIFECYCLESERVICE PORTFOLIO
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General Staffing: A Scalable Model, Built for Client Success SCALE REACH FLEXIBILITY PRODUCTIVITY Building scalable workforce solutions through deep client relationships and a nationwide footprint. Using technology, automation and data insights to improve workforce efficiency. Expanding talent access across India, including Tier 2 and Tier 3 markets. Adapting workforce solutions to specific needs and requirements. CLIENT BENEFITS 11 BUSINESS MODEL Payroll & Compliance Talent Acquisition Employee Lifecycle Management • Recruitment & sourcing • Joining & induction • Salaries & payroll • PF, ESIC & insurance • Labour law compliance • Employee questions • Exits & final settlements You focus on your business. We take care of Talent Solutions. TeamLease enables clients to focus on their core business by managing the complete workforce lifecycle at scale
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40,500 Apprentices deployed Rs 600 PAPM As of Q2FY27 -2,700 Headcount attrition during Q2FY27 New Corp IDs in Q2FY27 13 Apprenticeship: At a Glance 12 Design & Structuring Talent Mobilisation Onboarding & Contracts Learning & Training Compliance & Administration Tracking & Governance Up to 50% reduction in hiring costs 20-25% productivity improvement 10-25% reduction in attrition Up to 3X return on learning investment OUR SOLUTIONS END- TO -END PROGRAMME DELIVERY BUSINESS IMPACT 01 APPRENTICESHIP SOLUTIONS Build talent. Simplify compliance. End-to-end apprenticeship programmes that help organisations meet statutory requirements while building a sustainable pipeline 02 WORK-INTEGRATED LEARNING PROGRAMMES (WILP) Learn while you work. Formal qualifications that combine structured academic learning with practical on-the-job experience. 03 PRIME MINISTER INTERNSHIP SCHEME (PMIS) Connect youth with industry. Government-supported internships managed from candidate mobilisation through administration and reporting. NAPS & NATS Campus Apprenticeships Degree Apprenticeships 70:30 Learning Model Advanced Diplomas & Degrees Structured Programme and Learner Support 6/9 Months Structured Internship Programme Govt Supported Stipend Framework Employer-led Candidate Selection
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13 General Staffing and Apprenticeship: Operational Metrics Headcount Split by Industry (%) Headcount Split by Gender (%) Headcount Split by Region (%) (Present in all States and UTs) Associate breakup: Fixed and Variable (%) 33.6% 34.2% 34.9% 28.0% 29.0% 28.2% 8.3% 8.5% 8.8% 30.1% 28.3% 28.1% FY24 FY25 FY26 North South East West 79.9% 82.4% 79.2% 20.1% 17.6% 20.8% FY24 FY25 FY26 Fixed fee Variable markup 85.5% 83.9% 82.9% 14.5% 16.1% 17.1% 0.001% 0.003% 0.002% FY24 FY25 FY26 Male Female Others 3,11,800 3,39,450 3,33,100 3,11,800 3,39,450 3,33,100 3,11,800 3,39,450 3,33,100 26.0% 24.4% 20.8% 26.0% 28.5% 29.2% 10.8% 9.3% 8.5% 7.4% 7.2% 8.1% 14.9% 17.0% 17.6% 14.8% 13.7% 15.9% FY 24 FY25 FY26 BFSI Consumer E-Commerce Industrial Telecom Other
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14 General Staffing: Customer Metrics Additional relationship indicators: Cross-selling Clients using 2+ services 80% Associates on DWS Platforms Premium Paying 31%Annuity Clients % of Total Clients 95%+ Top 5 & Top 10 Client Contribution to Gross Revenue Client tenure buckets New client additions 28.3% 27.7% 24.7% 37.2% 37.8% 36.2% FY24 FY25 FY26 Top 5 Top 10 72 73 59 149 191 180 80 <1 year 1-2 years 2-3 years 3-5 years 6-10 years 10-15 years >15 years 60 New Corp IDs Added H1 FY27 YTD (%) (No.)
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04 03 02 Specialised Staffing: At a Glance 01 Contract-to-Hire Employs candidates initially, transitioning them to the client’s payroll based on performance and tenure. Recruitment Process Outsourcing (RPO) Manages end-to-end recruitment, with candidates directly employed by the client. Build-Operate-Transfer (BOT) Builds and operates dedicated teams before transferring them to the client. Employer on Record (EOR) TEAMLEASE DIGITAL Offerings One integrated stack that builds the enterprise Business Highlights (Q2FY27) Rs. 190 cr Revenue, +15% YoY, 7.1% EBITDA margin (Q2FY27) ~70% of segment revenue from GCCs:, ~67+% of gross margin 130+ active GCC clients, 16 GCC clients added in H1 4,500+ associates on GCC accounts, of 7,650+ deployed Managed Services with Governance Centralises staffing and vendor management through a single point of contact. Transaction-Based Outsourcing (TBO) Builds and manages teams, delivering defined processes and outcomes. ATLAS AI Talent, Learning, Advisory & Services TeamLease’s CapQ End-to-End Solutions for GCCs Advisory and Consulting Transformation Human Resources, Finance & Accounting Learning & Upskilling Regulatory Compliance Payroll Outsourcing ContinuityCompetenceCapacityCapability 15
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16 Specialised Staffing: Key Metrics Headcount Split by Gender (%) Revenue Share by Business Models (%) Diversifying the Revenues (%) 75% 75% 73% 25% 25% 27% F Y 2 4 F Y 2 5 F Y 2 6 Male Female 87.2% 86.2% 85.7% 7.6% 4.6% 7.1%5.2% 6.5% 5.9%2.8% 1.3% FY24 FY25 FY26 C2H BOT TBO Perm Learning 7,230 669592589 669592 6,620 7,5007,230 6,620 7,500 Delivering specialised talent solutions through domain expertise and scalable execution 100% 100% 89% 11% FY24 FY25 FY26 India Global Headcount Split by Industry (%) 589 24% 26% 33% 11% 14% 22% 60% 55% 43% 5% 5% 2% FY24 FY25 FY26 GCC tech GCC Specialised IT Services Others 0.5% 0.4%
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17 Other HR Services: At a Glance Compliance Solutions HR Tech Solutions EdTech Regulatory compliance delivered as a technology-led managed service ▪ Covers central, state and local statutory obligations, with structured filing calendars and exception reporting ▪ Pre-employment verification spanning identity, PAN, provident fund, bank account and background checks ▪ Automation and analytics across compliance workflows, improving efficiency and reducing manual intervention ▪ Offered to enterprise clients independently while underpinning the compliance integrity of the deployed workforce Talent acquisition and workforce administration on an integrated platform ▪ HR Tech operates as the primary recruitment engine, from sourcing and screening through to offer administration ▪ Payleaf provides payroll administration, employee records and workforce management on the same platform ▪ Artificial intelligence embedded across the recruitment lifecycle, from candidate matching to attrition prediction ▪ Structured as outcome-linked process delivery rather than headcount supply, supporting longer mandates Work-linked degree and skilling capacity, developed with university partners ▪ Partners with Indian universities, operating the delivery platform rather than competing for enrolment ▪ End-to-end management of admissions, fee processing, content, streaming and student servicing ▪ Work-linked formats enable learners to pursue a degree while in employment, strengthening the talent pipeline ▪ Portfolio concentrated on technology and management programmes, which demonstrate stronger retention and economics 1060+ enterprise clients, 69,233+ Compliances and 1,536 Acts. 6,618+ filings. 15 lakh+ candidate profiles 80%+ offers released within one working day No. of processed records in a month are 2 Lakh+ 42+ university partnerships 85% retention in priority programmes.
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Value Proposition
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19 Our Vision Staffing Talent Excellence Products SolutionsTeamLease moves beyond a staffing identity Targeted Offerings by CXO Function Service offerings aligned to the key responsibilities and strategic priorities of each CXO role CEO Enterprise workforce strategy & cost-to-serve 01 CHRO ‘Unhassle’ partner for talent & compliance 02 CFO Cost, compliance & labour-code exposure 03 COO Workforce productivity & GCC delivery 04 CTO/ CIO Tech talent and solutions 05 CCO Regulatory & contractual risk 06
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20 Strengthening Capabilities Enablers required to deliver the growth ONE TEAMLEASE – Addressing Comprehensive Talent Solutions Customer Centric Approach Drive productivity and revenue growth through deeper account penetration, structured cross- selling and stronger sales execution Digital Transformation & AI Leverage AI and digital capabilities to drive operating efficiencies, sharper decision-making and superior client outcomes. Talent Width & Depth Strengthen leadership depth and broaden capabilities to support scalable growth Hiring Enablement Strengthen hiring capabilities through technology-led screening, scalable sourcing and enhanced recruiter capacity Brand Strengthen brand positioning to enhance pricing power, attract talent and accelerate client acquisition
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21 The AI Shift and what it does to hiring India’s AI professionals by 2027 1.1mn deficit by 2027 How the shortage shows up What it does to the work The shortage is already monetised inside Specialised Staffing 1400 AI professionals placed at mid and senior level in last 10 months 32% → 38% Specialised skills as a share of Specialised Staffing headcount +9% White-collar hiring YoY in March 2026, led by AI and machine learning Where TeamLease stands 2.3 mn 1.2 mn 0 0.5 1 1.5 2 2.5 Demand Supply In GenAI engineering the market runs at roughly one qualified candidate for every ten open positions. days to hire a niche AI role, against 45– 75 days for traditional IT 90+ pay premium for GenAI professionals over traditional software roles 30-40% of AI hiring demand is 4–10 years of experience, not entry level ~65% Non-tech is becoming AI-enabled Nearly 1 in 3 business operations postings and 1 in 4 finance, risk and governance postings now require digital platforms, analytics or AI tools. New role families have appeared AI adoption and enablement leads, AI change managers and responsible-AI advisors — titles rarely seen in 2022, and none of them engineering roles. Routine service work is going Customer support demand fell 28.1% in H1 FY26, the only major job family to contract while every other one expanded. Source: Company and Industry Reports
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Q2 & H1FY27 Overview
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Suparna Mitra MD and CEO TeamLease Services Limited 23 Our aim is to establish TeamLease as a holistic talent solutions partner for India Inc. with a portfolio where every business adds to the overall margin and completes the solution system to our clients' strategic people needs. While business outcomes in Q2 were below our aspirations, we have made decisive choices: completing the divestment of Crystal HR, with no loss on capital invested, and work towards building higher margin adjacencies. With ₹350 crore of net free cash after our buyback, we are well placed to invest in people, brand, technology and new M&A opportunities. On the performance front, operating EBITDA grew 11% YoY in H1. Specialised Staffing, anchored by more than 130 GCC clients, continues to deliver profitable growth, and overall, we added 114 new logos this quarter.
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53 60 H1 FY26 H1 FY27 28 34 26 0.9% 1.1% 0.8% Q2 FY26 Q1 FY27 Q2 FY27 38 32 361.3% 1.0% 1.2% Q2 FY26 Q1 FY27 Q2 FY27 Q2 and H1FY27: Financial Performance 3,006 3,035 3,076 Q2 FY26 Q1 FY27 Q2 FY27 Quarterly Q2 FY27 Operating Revenue EBITDA Margin PAT Margin PAT EBITDA 5,876 6,111 H1 FY26 H1 FY27 Half-Yearly H1 FY27 Operating Revenue 69 68 H1 FY26 H1 FY27 EBITDA Margin PAT Margin PATEBITDA 2.3% 1.4% -6% 12% -7% -25% 14% (All figures in Rs. Cr) -2.7%4.0% 24 1.2% 1.1% 0.9% 1.0% * *before exceptional item
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Q2 and H1FY27: Key Highlights 25 114Q2 FY27 241H1 FY27 New Corp ID additions -8,200Q2 FY27 -7,430H1 FY27 Headcount added Headcount (No.) 289Q2 FY27 324Q1 FY27 FTE Productivity (Associate productivity per employee) (In actual numbers) 3,25,500GS & Apprenticeship 7,670Specialised Staffing Q2 Recent Updates Group GS and Apprenticeship • Gross Joinees-62,500+ • Client Additions: 32 • First Time Job Seekers: 30% of Gross Associates • Apprenticeship : 13 New Client Logos added Specialised Staffing • Cost per hire: Rs 19,500, -7% YoY • Client Additions: 20 • Gross additions: 1,100+ • Headcount Added: 40 Other HR Services Losses in the segment narrowed YoY, supported by revenue growth and recovery of prior-period dues. • New Logos Added: 114 • Completed the divestment of 30% in Crystal HR with NIL loss on capital investment. • Free Cash: Rs. 350 Cr 01 02 03 04
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Quarterly Operational Performance Specialised Staffing Segment Wise Headcount (No) General Staffing and Apprenticeship Industry Wise Headcount (No) 3,33,7003,25,500 3,54,950 7,670 7,630 7,050 20.8% 21.8% 25.9% 28.2% 29.2% 27.2% 9.2% 8.4% 8.9%8.2% 8.0% 7.1% 18.0% 17.0% 15.9% 15.5% 15.6% 15.0% Q2 FY27 Q1 FY27 Q2 FY26 BFSI Consumer E-Commerce Industrial Telecom Other 26 35.0% 34.0% 30.0% 25.0% 23.0% 20.0% 36.0% 40.0% 48.0% 4.0% 3.0% 2.0% Q2 FY27 Q1 FY27 Q2 FY26 GCC tech GCC Specialised IT Services Others
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92.0% 6.1% 1.9% 66.3% 30.2% 3.5% 75.6% 30.6% (-6.2%) 67.8% 26.0% 6.2% 63.4% 29.6% 7.0% 92.2% 6.2% 1.6% Revenue Mix and Profitability Contribution Q2 FY27 Q1 FY27 Q2 FY26 General Staffing Specialised Staffing Other HR Services General Staffing Specialised Staffing Other HR Services Compliance Solutions HR Tech Solutions Ed Tech Other HR Revenue Rs. 58 Cr Other HR Revenue Rs. 50 Cr Operating EBITDA Rs. 44 Cr Revenue Share by Offering (%) Other HR Services Revenue Share (%) Offering contribution to EBITDA (%) Total Revenue Rs. 3,035 Cr 92.6% 5.5% 1.9% Total Revenue Rs. 3,006 Cr Total Revenue Rs. 3,076 Cr Operating EBITDA Margin 1.3% Operating EBITDA Rs. 38Cr 68.5% 31.0% 0.5% Operating EBITDA Margin 1.4% Operating EBITDA Rs. 42 Cr 69.6% 24.2% 6.2% Other HR Revenue Rs. 57 Cr 27 Operating EBITDA Margin 1.4%
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85.1% 14.8% 82.7% 17.3% 90.2% 10.0% 70.0% 30.0% 68.0% 32.0% 71.0% 29.0% Specialised Staffing: Revenue Mix Q2 FY27 Q1 FY27 Q2 FY26 GCC Non-GCC India Global Total Revenue Rs. 190 Cr Revenue Split by Industry (%) Revenue Split by Geography (%) Total Revenue Rs. 188 Cr Total Revenue Rs. 165 Cr Total Revenue Rs. 190 Cr Total Revenue Rs. 188 Cr Total Revenue Rs. 165 Cr 28 Revenue Split by Business Model (%) 83.1% 6.2% 8.7% 0.4% 1.6% 84.5% 6.4% 8.3% 0.3% 0.5% C2H BOT TBO Perm Learning Total Revenue Rs. 188 Cr Total Revenue Rs. 165 Cr 85.4% 7.0% 5.9% 1.7% Total Revenue Rs. 190 Cr
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29 Strong Balance Sheet -0.3 -0.5 -0.1 -0.3 -0.05 FY 23 FY 24 FY 25 FY 26 H1 FY27 D/E Ratio 23 19 21 20 17 6 6 6 6 6 FY 23 FY 24 FY 25 FY 26 H1 FY27 TeamLease General Staffing Working Capital* (in days) Net Cash (Rs. Cr.) 420 392 442 728 383 FY 23 FY 24 FY 25 FY 26 H1 FY27 13.8 14.1 12.1 13.5 16.9 15.4 16.5 16.4 13.8 13.4 FY 23 FY 24 FY 25 FY 26 H1 FY27 RoE RoCE ROE and ROCE** (in %) (in times) *Working Capital= Calculated on average revenues. WC for H1 is calculated on TTM Revenues **ROE and ROCE= Excluding Free Cash and Income Tax. ROE and ROCE has been calculated based on TTM PAT and EBIT. -6.7% 12.8% 64.7% -47.0%
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REGISTERED OFFICE: TeamLease Services Limited Infinix Square B-4, B-5 & B-6, HAL Industrial Estate, HAL GB Quarters, Vibhutipura, Bangalore, Karnataka. PIN - 560 037 080-6824 3000 080-6824 3001 COMPANY CONTACTS: • Alaka Chanda Company Secretary and Compliance Officer TeamLease Services Limited corporateaffairs@teamlease.com Investor Relations Strategy Support: • Monali Jain Manager, Investor Relations Grant Thornton Bharat LLP Monali.Jain@in.gt.com