Interim report
Page 1
Oy L ® Teamlease Puting India to Work November 05,2026 To To Listing Department Listing Department BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Dalal Street, Fort, Plot no. C/1, G Block, Mumbai - 400 001 Bandra Kurla Complex, Bandra(E), Mumbai - 400 051 Scrip Code: 539658 Scrip Code: TEAMLEASE Dear Sir/Ma’am, Sub: Teamlease Services Limited (TeamLease/the Company) - Unaudited Financial Results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2026 Ref: Regulation 33 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015 With reference to the captioned subject and pursuant to Regulation 33 of the SEBI LODR Regulations, 2015, the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half-year ended September 30, 2026, together with the Limited Review Report is enclosed herewith. A copy of Press Release for aforesaid Financial Results is also enclosed herewith. Publication of the above said results in newspaper is being done as required under the SEBI LODR Regulations, 2015. Kindly take the above said information on record as per the requirement of SEBI LODR Regulations, 2015. Thanking You. Yours faithfully, For TeamLease Services Limited Alaka Chanda Company Secretary and Compliance Officer Encl: As above TeamLease Services Limited, CIN: L74140KA2000PLC118395 Registered Office: Infinix Square, B-4, B-5, B-6, HAL Industrial Estate, HAL GB Quarters, Vibhutipura, Bengaluru, Karnataka — 560037 Ph: (91-80) 6824 3333 Fax: (91-80) 6824 3001 Email ID: corporateaffairs@teamlease.com Website: https://group.teamlease.com Business Portal: https://www teamlease.com
Page 2
12th Floor S.R. BATLIBOI & ASSOCIATES LLP Fi S — No. 24, Vittal Mallya Road Ehartered Accalntarts Bengaluru - 560 001, India Tel : 491 80 6648 9000 Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors TeamLease Services Limited 1 We have reviewed the accompanying statement of unaudited standalone financial results of TeamLease Services Limited (the “Company™) for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the “Statement™) attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations™). 2. The Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting™ prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3 We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS") specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. S.R. Baliboi & Assouiales LLP, Liniled Liabilty Partngrsivp with LLP Ideatty No. ARB4295 Req. Offce : 22, Camac Strest, Block &, 3rd Floor, Kolkata700 016
Page 3
S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants 4. Emphasis of Matter We draw attention to Note 6 to the Statement in connection with ongoing Provident Fund litigations related to a Trust being sponsored by a subsidiary of the Company wherein the aforesaid trust received a demand, against which an appeal was filed by the trust before the Hon'ble High Court of Gujarat challenging the said demand. Pending final outcome of the matter, no adjustment has been considered necessary in these financial results. Our conclusion is not modified in respect of this matter. For S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants ICAI Firm registration number: 101049 W/E300004 Rov e per Sandeep [Karnani Partner Membership No.: 061207 UDIN: 26061207ZFWRZY229. 3 Place: Bengaluru Date: November 03, 2026
Page 4
TEAMLEASE SERVICES LIMITED Regd. Off: B-4, B-5 & B-6, Infinix Square Building, HAL Industial Estate, HAL GB Quarters, Bengalura- 560037 CIN: L74140KA2000PLC118395 E-MIAIL: corporateaffairs(@teamiease.com WEBSITE: hitps:/igroup.teamlease.com Statement of un; ted standalone financial results for the quarter and half year ended September 30, 2026 (R in Crores except per share data) Particulars 3-Months Preceding Corresponding | 6-Monihs | &-Months Ended | Year Ended Ended | 3-Months Ended | 3-Months Ended | Ended 30092025 310372026 30092026 300062026 301092025 301092026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Tncome Revenue from operations 276387 373936 275034 550333 539076 1673625 (Other income: 1199 2172 [z} 3371 2414 74,52 Total income 2,775.86 2,761.08 2.761.96 5:536.94 541490 10810.77 [Expenses Employee benefits expense 271623 768005 267810 539628 52%5 1046783 [Subconteacting expense 1601 2475 3149 4076 s107 106381 Finance costs 198 266 26 464 401 941 [Depreciation and amortisation expense 103 1028 988 2061 927 2032 Other expenses 15.49 1831 1580 3680 3657 7921 Total expenses 276304 273605 274090 5.499.00 536927 10,703.58 Profit before cxceptional tems and tax 28 350 2106 3785 56 10719 Exceptional items (@) lmpact of New Labour Codes [Refer note 4(a)] - - - - - @74 (6) lmpairment allowance [Refer note 4(0)] - N - N - (642) [Total exceptional items - - - N N ©.16) Profit before tax 8 250 2106 3785 4563 9803 Current tax o1 068 025 T 034 096 Deferred tax charge(oredi) N 006 ©30) 006 ©33) ©16) Income tax expense/(credit) oL 074 ©.09) 175 ©29) 050 [Net profit for the period/year 2429 2011 3610 EEX) 9723 [Other comprehensive income s that will ot be reclassified fo profi or 1oss n subsequent periods Re-measurement (losses) gains on defined benefi plans ©10) ©&0) 001 ©30)] ©39)| Income tax effect 003 015 - 013 01z Other comprehensive (loss)igain, net of tax @07 (5} 001 ©37) ©37) [Total comprehensive income 1174 2341 FIRE) 3558 45355 9686 [Paid-up equity share capital (face value Rs. 10/- cach fully paid) 1528 1677 1677 1528 1677 1677 Other equity 537,00 [Earmings per equity share (face value Rs 10/- cach flly paid) Basic EPS (Rs ) 750 YT 1259 221 2739 5758 [Diluted EPS (Rs) 750 1349 1259 221 2739 57198
Page 5
TEAMLEASE SERVICES LIMITED Regd. Off: B-4, B-5 & B-6, Infinix Square Building, HAL Industrial Estate, HAL GB Quarters, Bengaluru- 560037 CIN: L74140KA2000PLC118395 E-MAIL: corporateaffairs@teamlease.com WEBSITE: https://group.teamlease.com Unaudited Standalone Statement of Assets and Liabilities as of September 30, 2026 (Rs. in Crores) Sr. No. | Particulars Asat Asat September 30, 2026 March 31, 2026 Unaudited Audited A | ASSETS 1| Non-current assets Property, plant and equipment 8.19 747 Right of use assets 68.69 7402 Other intangible assets 3931 43.00 Intangible assets under development 1279 1138 Financial assets (i) Investments 348,81 358.93 (i) Loans 1146 1057 (iii) Other financial assets 31093 349.12 Deferred tax assets (net) 667 655 Non-current tax assets (net) 13196 10592 Other assets 180 134 Total non-current assets 940.61 968.30 2 | Current assets Financial assets (i) Investments 33.09 13939 (ii)(@) Trade receivables 42951 35343 (ii)(b) Unbilled revenue 323.20 167.52 (iii) Cash and cash equivalents 102.89 15964 (iv) Bank balances other than cash and cash equivalents - 13061 (v) Other financial assets 559.64 52414 Other assets 4247 411 Total current assets 1,490.80 151584 “Total assets 2431.41 248414 B | EQUITY AND LIABILITIES 1| EQuUITY Equity share capital 1528 1677 Other equity 733.29 937.00 Total equity 748.57 953.77 LIABILITIES 2 | Non-current liabilities Financial liabilities (i) Lease liabilities 51.95 56.53 (it) Other financial liabilities - 155 Employee benefit obligations 30848 344.85 Other liabilities 422 422 Total non-current liabiliti 364.63 407.15 3 | Current liabi Financial lia (i) Lease liabilities 19.94 1937 (if) Trade payables (=) Total outstanding dues of micro enterprises and small enterprises 229 175 (b) Total outstanding dues of creditors other than micro enterprises and small enterprises 1671 19.69 (iti) Other financial liabilities 590.13 40415 Employee benefit obligations 31699 29923 Other liabilities 37213 379.03 Total current I 131819 1,123.22 Tota 1,682.84 1,530.37 “Total equity and liabil 243141 248414 Date: November 5, 2026 Place: Bengaluru “;. "For and on behalf of the Board of [éamLease Services Limited £ Ashok Kumar Nedurumalli Executive Vice Chairman and Whole-Time Director DIN: 00151814
Page 6
TEAMLEASE SERVICES LIMITED ing, HAL Industrial Estate, HAL GB Quarters, Bengaluru- 560037 Regd. Off: B-4, B-5 & B-6, Infinix Square Bui CIN: L74140KA2000PLC118395 E-MAIL: corporateaffairs@teamlease.com WEBSITE: https://group.teamlease.com Unaudited Standalone Statement of Cash Flows for the half year ended September 30, 2026 (Rs. in Crores) Sr. Half Year ended No | Particulars September 30, 2026 September 30, 2025 Unaudited Unaudited T [Cash flow from operating acti Profit before tax 3785 4563 Depreciation and amortisation expense 2061 1927 Finance costs 464 494 Interest income (23.86)! (19.43) Profit on disposal of property, plant and equipment (net) (0.01), - Liabilities/provisions no longer required written back (233) (1.90) mpairment allowance for doubtful receivables/bad debts/other balances written off 021 266 Sharc-based payment expenses (net) - (0.48) Gain on sale of current investments (net) (5.34) (@13) Fair value gains on current investments (net) (0.09) - Working capital adjustments (Increase)/decrease in trade receivables (including unbilled revenue) (231.90)| (46.89) (Increase)/decrease in other asscts (147) 043 (Increase)/decrease in other financial assets 2092 (2433), Increase/(decreasc) in trade payables and other financial liabilities 18429 45.08 Increase/(decrease) in other liabilities (@.78) 2368 Increasc/(decrease) in employee benefit obligations (1931)) 17.41 (2057)! 63.94 Income tax refunds/(payments) (21.66), @L15)] Net cash flows (used in)/from operating activities (42.23) 2.79 I |Cash flows from investing activities Purchase of property, plant and equipment, other intangible assets and intangibles under development ©.97) (18.06) Proceeds from sale of property, plant and equipment 0.07, 0.03| (Purchase)/ sale of current investments (net) 11173 (7.87) Loans given to subsidiarics (220) (3.05) Loans repaid by subsidiaries 131 207, (Investments iny/maturity of fixed deposits (net) 107.66 34.80 Interest received 2217 26.98| Sale of investment in joint venture 10.12 - Net cash flows from/(used in) investing activities 24089 34.90 Il Cash flows from financing activities Proceeds from exercise of stock options (September 30, 2025 - Rs. 12,180) - 0.00) Payment of principal portion of lease liabilitics (9.99) (1245) Finance costs (including inerest on lease liabilities) (4.64) (4.94) Buy back of equity shares including transaction cost (240.78)| R Net cash flows (used in)/from financing activities (25541 (17.39) IV |Net increase/ (decrease) in cash and cash equivalents (56.75)| 40.30 V' |Cash and cash equivalents at the beginning of the period 159.64 8334 VI |Cash and cash cquivalents at the end of the period (IV + V) 102.89 123.64 Note: Cash and cash equivalents shown above is bank balances net of bank overdrafts/ cash credit of Rs. Nil and Rs. 16.76 Crores respectively / ? “S ’l c e A ffl Bpngalum 2 /\ Date: November 5, 2026 Place: Bengaluru Exec koot . For and on behalf of the Board of “TeamLease Services Limited -7 “Ashok Kumar Nedurumalli ive Vice Chairman and Whole-Time Director DIN: 00151814
Page 7
TEAMLEASE SERVICES LIMITED Regd. Off: B-4, B-5 & B-6, Infinix Square Building, HAL Industrial Estate, HAL GB Quarters, Bengaluru- 560037 CIN: L74140KA2000PLC118395 E-MAIL: corporateafTairs@teamiease.com WEBSITE: hitps://group.feamlease.com Statement of unaudited standalone inancial results for the quarter and half year ended September 30, 2026 Notes Interms of Regulation 33 of the SEBI (Listing Obligations and Disciosure Requirements) Regulations, 2015, as amended, the aforesaid satement of unaudited standalone financial results for the quarier and half vear ‘ended Scptember 30, 2026 of the Company have been reviewed by the Audit Commtie and approved by the Board of Directors at their respective meetings held on November S. 2026, The aforesaid resuls for the quarter and half year ended September 30, 2026 have been subjected o limited review by the statutory audtors of the Company. 2 The financial results have been prepared in accordance with the recogmition and messurement principles laid down n the applicable Indizn Accounting Standards (IND-AS) prescribed under section 133 of the Compames Act, 2013, as amended, read with the relevant rules tssued thereunder. 3 The Company is claiming deduction available under Section S0JJAA of the lacome Tax Act, 1961 (*Act”) with respect to eliible expenditure incurred for net additional associate employees hired in cach year with effect from financal year 2016-17 sl date The Company's claim for the financial years 2016-17 and 2017-18 was allowed in tax assessments completed carler under Section 143(3) of the Act Subsequently, the Income Tax authorities disallowed the deduction u's SOIJAA for financial year 2018-19 (AY 2019.20) and issued notice for reassessment /s 148 of the Act for fnancial year 2016-17 (AY 2017-18) and 2017-15 (AY 2018-19) The Company filed appeal before National Faceless Appesl Centre under Section 246(1)(a) of the Act for AY 2019-20 and a writ petition befor the Hon'ble Karnataka High Court for AY 2017-18 and AY 2018-19. challenging the stand taken by tax authorties During the year ended March 31, 2026, the Hon'ble Kamataka High Court quashed aforesaid notice and re-assessment proceedings for AY 2017-15, ‘agamst which x authorities fied an appeal with Hon'ble High Court of Kamataka During the quarter ended June 30. 2026, the Hon'ble High Count of Katnataka allowed the writ appeal fild by the tax authorities on accoun of cerain amendments to the Act and setung aside the aforesad order passed by them during the year ended March 31,2026 The Company has filed a revised writ pettion with Hon'ble High Court of Karuataka and the matter is pending final resolution The Company believes that the deduction claimed under Section S01JAA is in accordance with the provisions of the Act Based on legal advice, the Company is reasonably confident of & positive outcome in the matter o the aforesaid assessment years. Exceptional items (a) New Labour Codes: Effective November 21, 2025, The Government of India consolidated multiple existin labous legislations into 4 unified framework comprising four Labour Codes collectively referred to as the New Labour Codes' The Company assessed and disclosed the incremental iespact of these changes based on the best information avatlable, which resulted n ncrease in gratuity and leave liabiliy by Rs. 274 crores and the same was recognized as an exceptional item during the year ended March 31, 2026, For billable employecs, the Company 1 of the view that these costs are contractually recoverable from customess ‘and therefore did not have any incrementai impact on the statement of profi and loss Howeves, the Company cansidered the New Labour Codes for the determination of provsion of gratutty and compensated absences and the consequent reimbursement right for gratuity and compensated absences as at March 31, 2026 The Company continues to moritor the develapments pertaning to the implementation of the New Labous Codes, including related rules thereto and would cortinue to assess the accounting implications basis such developments! suidance as may be necded (b) Imparment allowance Based on the management’s assessment of future projections and profitabilt. the Company created an impairment allowance of Rs 6 42 crores towards is imvestment in TeamLease HRTech Private Limted, a subsidiary and the same was recognised as an exceptional ttem dring the year ended March 31, 2026. During the current quarter, pussuant 1o the Share Purchase A greement (SPA) entered into with Crystal HR and Security Solutions Private Limited (Crystal HR) and it promoters dated January 6, 2025, the Company has exercised exit option and wansferred entire 30% stake to Crystal HR and is promoters for an augresate consideration of Rs. 1012 crores Accordingly, Crystal HR ceased to be a joint venture of the Company. Wit effect from September 21, 2026, TeamLesse Foundation (TLF). a subsidiary is a sponsoring body of Teamease Skills University (TLSU) TLSU is regstered under All India Counil for Technical Education [(National Employability Enhancement ) Regulations, 2013] and provides isaitiees 0 its customers under NEEM regulation and pays stipend 1o these trances as a single consolidated amount without any statutory deductions or payments. verifcation of the records of NEEM traiees supplied by TLSU to its customers during the previous vears, the Regsonal Provident Fund (PF) Department of Vadodara was of the view that social security benefis in form of Provident Fund, Pension and Insurance, etc shall be extended to the taimees registered under NEEM regulation and sccordingly, issued a demand towards the aforesaid dues amounting fo Rs 395 erores for the pertod July 2014 10 June 2022, Dunin the ongoing hearings, TLSU submitted the necessary claifications the Regional Provident Fund (PF) Department of Vadodaca. However, during the year ended Mareh 31. 2026, the Regional PF commissioner passed an order under Para 268 of the EPF Scheme, 1952 saing that NEEM trainees were covered under the ambit of the EPF Act and allied schemes and benefits therean. During the quarter ended June 30, 2026, TLSU has filed a specia civil apphication with Honble High Court of Gujarat against the said order During the current quarte, the PF Department nitiated proceedings. under Section 125 of the Code on Social Security 2020, (© determine the dues payable by TLSU. TLSU sought a say from the Hon'ble High Court of Guyarat, as the related special il application is pending with the Hon'ble High Court of Guarat, against which ad-nterin relef has been granted and the mater s pending final resolution Based on the legal opinion obained by TLSU and a stay order from Honfble High Court of Madras for a similas PF nafice in the past for one of 1s customers, management 1 o the view that PF and other satutory deductions are not applicable on the stipend paid 10 the trainees and accordingly 7o adyustments have been made in the standalone financial resultsof the Company The statutory auditors have miven an emphasis of mattes n their limited review report on the aforesad mater On May 20, 2026, the Board of Directors approved a proposal to buyback up 10 1,487,500 fully paid equity shares of Rs. 10 cach, subject to shareholders approval representing § 87% of the total number of equity shares n the paid-up equity share capital as at March 31, 2026 from the shareholders of the Company on a propostionate basis by way of tender offer a a price of Rs. 1,600 per equity share, for an agaregate amount ot exceeding Rs. 238 crores (excluding taxes and expenses incurred in connection with the buyback), in accordance with the provisions contained in the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended. and the Companies Act, 2013 and the rules made thereunder The shareholders of the Company approved the buyback. by way of specia resolution through a postal balor, the resuls of which were declared on June 29, 2026 The Letter of offer fo the buyback was fled with Securites and Exchange Board of India and tender period for Buyback opened on July 09, 2026 and closed o July 15,2026 The seitlement of all valid bids was completed on July 21, 2026 and shares were extinguished on July 29, 2026 The buyback resulted in a total cash outflow of Rs 240 78 crores (including transaction costs reated to buyback of Rs 278 crores). In line with the requirement of the Companies Act, 2013, Capital Redemption Reserve of Rs 149 crores (representing the nominal value of the shares bought back) has ben created as an apportiopment from Retained eamings The Company has investments in subsidiaries of Rs. 348 81 crores (et of impairment allowance) and has outstanding loars of Rs 1146 crores from its subsidiaries 5 at September 30, 2026 Based on the valuation asessment carried out by the management and cxtemal expert duning the vear ended March 31, 2026, the Company is of the view that the camying value of the aforesaid imvestments/loans is appropriate post impaiiment aljowance in TeamLease HRTech Private Limited as detarled i Note 4(b) above There is no change i the management’s assessment as regards the aforesaid carrying value of investments i s subsidiasies nd outsunding loans as at September 30, 2026 “The figures of the previous periodsiyear end have been regrouped! reclassifed, wherever nccessary ‘The above standzlone financial results of the Company are available on the Company's website (wwi teamieasegroup com) and also on the website of BSE (www bseindia com) and NSE (whwwe nseindia com), Where the shases of the Company are Iisied For and on behalf of the Board of TeamLease Services Limited - L‘c;‘\{v&x,‘ 3 Date November 5, 2026 Place Bengaluru Ashok Kumar Nedurumali Executive Vice Chairman and Whole-Time Director DIN: 00151814
Page 8
12th Floor S.R. BATLIBOI & ASSOCIATES LLP Ao Canberra Bock No. 24, Vittal Mallya Road Gfiartered Accatintants Bengaluru - 560 001, India Tel : +91 80 6648 9000 Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Team Lease Services Limited S We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of TeamLease Services Limited (the “Holding Company™) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group™), and its joint venture, for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the “Statement™) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations™). The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company’s Board of Directors . Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. The Statement includes the results of the following entities: Subsidiaries: 1) TeamLease Digital Private Limited 2) TeamLease Foundation 3) TeamLease HRTech Private Limited 4) TeamLease Edtech Limited 5) TeamLease Regtech Private Limited 6) TSR Darashaw HR Services Private Limited 7) TeamLease Digital Singapore Pte. Ltd 8) TeamLease Consulting FZCO 9) TeamLease Digital Consulting Pte. Ltd 10) TeamLease Edtech Foundation 11) TeamLease Digital Solutions Pte. Ltd (w.e.f. September 1, 2025) 12) TL Business Solutions Inc (w.e.f. September 23, 2026) Joint Venture: 1) Crystal HR & Security Solutions Private Limited (up to September 21, 2026) SR, Balibui & Assuciates LLP, a Linited Liabily Partrership with LLP dentity No. ARD 4235 Rega. Offce 22, Camac Streat, Block 1, 3d Floor, Kakata 700 016,
Page 9
S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS”) specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. Emphasis of Matter We draw attention to Note 5 to the Statement in connection with ongoing Provident Fund litigations related to a Trust being sponsored by the Group wherein the aforesaid trust received a demand, against which an appeal was filed by the trust before the Hon’ble High Court of Gujarat challenging the said demand. Pending final outcome of the matter, no adjustment has been considered necessary in these financial results. Our conclusion is not modified in respect of this matter. 7. Other Matters The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of: e Ten subsidiaries, whose unaudited interim financial results include total assets of Rs. 157.60 Crores as at September 30, 2026, total revenues of Rs. 82.48 Crores and Rs. 155.95 Crores, total net profit after tax of Rs. 3.49 and Rs. 2.06 Crores, total comprehensive income of Rs. 3.93 Crores and Rs. 2.56 Crores for the quarter ended September 30, 2026 and the period then ended on that date respectively, and net cash outflows of Rs. 5.03 Crores for the period from April 01, 2026 w September 30, 2026, as considered in the Statement which have been reviewed by their respective independent auditors. * One joint venture, whose unaudited interim financial results include Group’s share of net profit of Rs. Nil and Rs. 0.30 Crores and Group’s share of total comprehensive income of Rs. Nil and Rs. 0.30 Crores for the quarter ended September 30, 2026 and for the period from April 01, 2026 to September 30, 2026 respectively, as considered in the Statement whose interim financial results and other financial information have been reviewed by independent auditor. The independent auditor’s reports on interim financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries and joint venture is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement in respect of above matters is not modified with respect to our reliance on the work done and the reports of the other auditors. For S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 &"’ per Sandeep Karnani Partner o Membership No.: 061207 DIN: 26061207 TXGTGE2851 Place: Bengaluru Date: November 5, 2026
Page 10
Regd. Off: B-4, B-5 & B-6, Infinix Square By a TEAMLEASE SERVICES LIMITED ing, HAL Ind trial Estate, HAL GB Quarters, Bengaluru- 560037 : L74140KA2000PLC118395 E-MAIL: corporatealfairs @teamlease.com WEBSITE: hitps:/group.teamlease.com Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2026 o Coores et g share o) St Eadea | | Preccing | Corrsponding |yt e | 6Months Ended | Ve Ended Particul g e . arctars sousrozg | >Months e | 3-Months Bnded | ® 0l 6™ | souonnns | 3103036 Cnadied | Unandted | Cnawinea | Unaudiea | Unawdied | Awied ocome ovencom cprions S e EYE 1) AT T T o 03 pIE 520 s FIET 551 Sovei2 | sosear| S| einm | Emew] i Eipems oy vencis g BT FET T e Sers g0 Suvcontacing exprse ETS w001 3 1506 e T0rr Finacecots Sor 56 o0 on gz TE) Deorciion s smorision Sgee G D7 i o pik] So3 Othrexpenses EE] Sl 352 I EIT I o epenses Soress | sowar| iowein | emem | Swmes| it Fraicbctoreshae of proft o ot ventars, excepiona s o X ES e a5 Ex) =) Shae o proft Fom ot v, e o - oy o [ ow e Frofichtoe sxceptona e and X T I T = T Excepronl e e mpec ot new [ S s Reer i ) - - - - - ) (b) Loss on sale of investments in joint venture [Refer note 4(b)] (142)] - - (1.4) - - (c) Impairment allowance [Refer note 4(c)] (156)] - - (1.56) - - ot xcepiona e @) : - @) - ) Fraihtore ErE) T Ey T =% [T Comeras s £y i 5 o= T Advsment oo el o ey o7 - - o - o) Defene o iy charte i o) o foE) ) ) Income o expense g i L7 Ty o [ Net profit for the period/year 23.02 3445 2784 5747 52.85 14138 e o () Oumers ot F) I Ta 7 g [EXE) o) Nomsonoling s vor 0. o5 o 0z i) s comprcenive osifacome (a) ltems to be reclassified to profit or loss in subsequent periods: [Exchange differences on translating the financial statements of a foreign operation - (o) (0.07)] 00D (025)) (030) s hat il ot e i o oo o T s st pods e messurrmon s s o e beals blgstons i) o) o) ) o) o) income o e 007 os o 025 on 02 Other comprevensiv (oo re ) o) @) o) ) o Aawbuic o ) Osners ot pr @, X o) ] s [, i Nononcling ez on o0 00i) ois o) 007 ot comprohensie cams i 55 T 3 froen e o ) Onners ot v e EIE FiT ) £ [ETES (i) Non-controlling interests 0.16 (0.39) 0.28 (0.23)] (1.28)] 176 P i have cpil (e v . 10 e Tl gy [ 7T 5 5 i T Othercquity Tis55 |Earnings per equity share (face value Rs 10/- each fully paid) e 5 () 5 ) oo w5 7 [y Dibid £85 (<7 1 o o T P 5%
Page 11
TEAMLEASE SERVICES LIMITED Regd. Off: B-4, B-5 & B-6, Infinix Square Building, HAL Industrial Estate, HAL GB Quarters, Bengaluru- 560037 CIN: L74140KA2000PLC118395 E-MAIL: corporateaffairs@teamlease.com WEBSITE: https://group.teamlease.com Unaudited Consolidated Statement of Assets and Liabilities as of September 30, 2026 (Rs. in Crores) Sr. No. [Particulars Asat Asat September 30, 2026 March 31, 2026 Unaudited Audited A |ASSETS 1 |[Non-current assets Property, plant and equipment 1253 1034 Right of use assets 74.60 79.99 Goodwill on consolidation (net) 185.57 18557 Other intangible assets 57.18 6297 Intangible assets under development 14.63 1444 Investments accounted for using cquity method - 124 Financial assets (i) Investments 3.00 3.00 (if) Other financial assets 31550 353.05 Deferred tax assets (net) 1751 13.54 Income tax assets (net) 159.04 148.75 Other assets 554 5.09 Total non-current assets 845.10 387.98 2 [Current assets Financial assets (i) Investments 97.08 188.81 (ii) (2) Trade receivables 63621 544.66 (if) (b) Unbilled revenue 41753 253.63 (i) Cash and cash equivalents 127,05 169.75 (iv) Bank balances other than cash and cash equivalents 156 13209 (v) Other financial assets 617.92 5272 Other assets 53.86 50.84 Total current assets 1.951.21 191250 Total assets 279631 280048 B [EQUITY AND LIABILITIES 1 [EQuUITY Equity share capital 1528 1677 Other equity 84429 102653 Equity attributable to owners of the parent 859.57 1,043.30 Non-controlling interest 1631 16,54 Total equity 875.88 1059.84 LIABILITIES 2 |Non-current lia Financial liabilities (i) Lease liabilities 56.00 60.54 (ii) Other financial liabilities - 223 Employee benefit obligations 32238 357.84 Other liabilities 422 422 Total non-current liabilities 382.60 42483 3 [Current Financial liabilities (i) Borrowings 4507 3423 (i) Lease liabilities 22,10 2150 (iii) Trade payables (2) Total outstanding dues of micro enterprises and small enterprises 30.55 2833 (b) Total outstanding dues of creditors other than micro enterprises and small enterprises 47.84 50.42 (iv) Other financial liabilities 651.33 456,31 Current tax liabilities (net) 032 ol Employee benefit obligations 32645 30767 Other liabilities 41417 41724 1,537.83 131581 192043 1.740.64 Total equity and 2,79631 280048 Date: November 5, 2026 Place: Bengaluru N\ / DIN: 00151814 For and on behalf of the Board of TeamLease Services Limited ‘Executive Vice Chairman and Whole-Time Director
Page 12
TEAMLEASE SERVICES LIMITED Regd. Off: B-4, B-5 & B-6, Infinix Square Building, HAL Industrial Estate, HAL GB Quarters, Bengaluru- 560037 CIN: L74140KA2000PLC118395 E-MAIL: corporateal Unaudited Consolidated Statement of Cash Flows for the half year ended September 30, 2026 irs@teamlease.com WEBSITE: https://group.teamlease.com (Rs. in Crores) Sr. No. | Particulars Half Year ended September 30, 2026 September 30, 2025 Unaudited Unaudited I |Cash flow from operating activities Profit before tax 6285 5527 Adjustments to reconcile profit before tax to net cash flows from operating activities: Depreciation and amortisation expense 27.04 2770 Finance costs 672 7.7 Interest income (19.65) (13.89) (Proft)/ loss on disposal of property, plant and equipment (net) (©.01) 0.01 Liabilities/provisions no longer required written back (2.33) (1.98) Impairment allowance for doubtful receivables/bad debts/other balances written off 470 9.09 Share-based payment expenses (nct) 0.12 (0.41) Gains on sale of current investments (nct) (6.00) (3.69) Fair value gains on current investments (not) (1.23) (0.97) Share of (profit)/ loss of joint venture (0.30) (0.43) Unrealised foreign exchange loss (net) - (0.44) Loss on sale of investments in joint venture 142 - Impairment allowance 1.56 - Working capital adjustments (Increase)/decrease in trade receivables (including unbilled revenue) (260.08) (86.58) (Increase)/decrease in other assets (3.12) (0.45) Decrease/(increase) in other financial assets 2070 (2428) Increase/(decrease) in trade payables and other financial liablities 19497 64.92 (Decrease)/increase in other liabilities (0.95) 3157 (Decrease)/increase in employee benefit obligations (17.68) 1874 373 8193 Income tax refunds/(payments) (11.02) (37.12) Net cash flows (used in)/ from operating activities (2.29) 4481 1L |Cash flows from investing activitics Purchase of property, plant and equipment, other intangible assets and intangibles under development (14.75) (20.88) Proceeds from sale of property, plant and equipment 007 0.03 Loans and advances (given to) repaid by employee (020 - Salei(purchase) of current investments (net) 98.96 (765) Maturity of /(investments in) fixed deposits with banks (net) 9742 3118 Interest received 1607 19.92 Proceeds from sale of investments in joint venture 1012 - Net cash flows from/ (used in) investing activities 207.69 2260 I |Cash flows from financing activities Proceeds from exercise of stock options (September 30,2025 - Rs. 12,180) - 0.00 Proceeds from/ (repayment of) short term borrowings (net) 728 (231) Payment of principal portion of lease liabilities (11.29) (13.85) Finance costs (including interest on lease liabilitics) (6.72) (7.14) Buy back of equity shares including transaction cost (240.78) - Net cash flows (used in)/ from financing activities (251.51) (23.90) IV |Netincrease/ (decrease) in cash and cash equivalents (6.11) 4351 V. [Cash and cash equivalents at the beginning of the period 14325 59.42 VI |Effect of exchange differences on cash and cash equivalents held in foreign currency (©.15) (0.46) VI [Cash and cash equivalents at the end of the period (IV +V + VI) 96.99 10247 Note: Cash and cash cquivalents shown above is bank balances net of bank overdrafis/cash credit of Rs. 30.06 Crores and Rs. 54.60 Crores respectively. Date: November 5, 2026 Place: Bengaluru For and on behalf of the Board of .TeamLease Services Limited koo “Ashok Kumar Nedurumal Executive Vice Chairman and Whole-Time Director DIN : 00151814
Page 13
TEAMLEASE SERVICES LIMITED Regd. Off: B-4, B-5 & B-6, Infinix Square Building, HAL Industrial Estate, HAL GB Quarters, Bengaluru- 560037 CIN: L74140KA2000PLC118395 E-MAIL: corporateaffairs@teamlease.com WEBSITE: https://group.teamlease.com Unaudited Consolidated Segment-wise revenue, results, assets and liabilities for the quarter and half year ended September 30, 2026 The Company is primarily engaged in the business of providing manpower services. The Company has identified following reportable scgments in context of IND AS 108 Operating Segments General Staffing and Allied Services - Comprises of Staffing, Temporary Recruitment, Payroll and NETAP. Specialised Staffing Services - Comprises of IT Staffing and Telecom Staffing. Other HR Services - Comprises of Regulatory Compliance, Training, Job Portal, Education Technology and SAAS based compliance. (Rs. in Crores) Sr. [Particulars - - No. 3-Months Ended | | Frecedine | Corresponding | & vy pogeq | 6 Months Ended | Year Ended 300072026 | *Months Ended | 3-Months Ended | 5,00, 30092025 3140312026 3000672026 3000972025 CUnaudited Unaudited Unaudited Unaudited Unaudited Audited 1 [Segment Revenues [General Staffing 282876 279650 278341 562526 545270 1087959 Specialised Staffing 18956 18782 16542 37738 32038 66938 [Other FIR Services 5766 5037 5737 10803 10248 2170 [Total Income from operations 3,075.98 303469 3,00620 611067 587556 11,790.67 2 [Segment results General Staffing 2602 2534 2617 5136 5033 10595 Specialised Staffing 1276 09 1249 2385 2298 4753 [Other FIR Services 157 22) [EXD) ©79) (1432) @43) Total 3701 3121 3494 842 5999 14905 [Unallocated income/(expense) (net) @37 870 (193 [NE) 301 2119 Finance costs G.07) (365 (4.00) ©72) 74, (1429) Profit before exceptional items and tax 2957 3626 2901 6383 5527 15595 [Exceptional items ©.98) - - 298) - 5.68) Profit before tax 2659 3626 29,01 0285 557 15027 3 [Segment Assets General Staffing 162354 164518 99953 162351 99953 145578 Specialised Staffing 39949 381,68 35875 399.49 35875 36853 Other HR Services 14525 146,86 45589 14525 135,89 521 Unallocated 62803 877.69 80871 62803 80871 3096 Total 279631 305441 231288 2,79631 231288 2,800.48 4 [Segment Liabilities General Staffing 66731 171673 1.067.08 166721 106708 149322 Specialised Staffing BN TI181 11645 201 645 11512 Other HR Services 4395 614 5094 4895 5094 5532 Unallocated [NE] .90 104.20 .13 10420 76.98 Total 1.920.43 196058 1338.67 192043 133867 1,740.64 Date: November 5, 2026 Place: Bengaluru For and on behalf of the Board of ¥ FeamLease Services Limited ~Ashok Kumar Nedurumalli [Eecutive Vice Chairman and Whole-Time Director DIN: 00151814
Page 14
TEAMLEASE SERVICES LIMITED Regd. Off: B-4, B-5 & B, Infinix Square Building, HAL Industrial Estate, HAL GB Quarters, Bengaluru- S60037 CIN: L74140KA2000PLC118395 E-MAIL: corporateaffairs @ eamlease.com WEBSITE: hitps:/group.seamlease.com ‘Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2026 Notes I terms of Regulation 3 of the SEB (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, the aforesaid satement of unaudited consolidated financial results for the quarter and hilf vear ended September 30, 2026 of the Company and its Subsidianes ('the Group") and it Jount venure have been teviewed by the Audit Committee and approved by the Board of Directos at thei respectie. mectings heid on November 5, 2026 The aforesaid cesults for the quarter and halfyear ended September 30, 2026 have been subjected to Imited review by the statutory auditors o the Company The financial resuls have bean prepared i accordance wih the recoition and measusement principles aid down i the applicable Indian Accounting Standards (IND-AS) pr Companies Act, 2013, as amended, read with the relovant rules issued thereunder cobed under section 133 of the ‘The Company is claming deduction aalable under Section 80IJAA of the Income Tax Act, 1961 (*Act”) with respect to ahgible expenditure incurred for net addiional associate employees hired i each year with effect from financial year 2016-17 il date. The Company s clam for the financial years 2016-17 and 2017-18 was allowed n tox assessments completed earler under Section 143(3) of the Act. Subsequenly, the Income Tax auhories disallowed the deduction ws BOJAA for financial yesr 2018-19 (AY 2019-20) and issued notice for reassessment u's 148 of the Act for financial year 2016-17(AY 2017-18) and 2017-18 (AY. 2018-19) The Company filed appeal before Natonal Faceless Appeal Centre under Section 246(1)a) of the Act for AY 2019-20 and a writ pettion before the Hon'bie Kamataks High Court for AX 2017-18 and AY 2018-19. chalienging the stand taken by tax authorites. Dunng the year ended March 31, 2026, the Hon'ble Kamataka High Court quashed aforesaxd notice and re-assessment procsedings for AY 2017-18, agaunst which tax authorites filed an appeal with Hon'ble High Court of Kamataka During the quarter ended June 30, 2026, the Hon'ble High Court of Kamataka allowed the wr appeal filed by the tax authories on account of certan amendments 1o the Act and setting asde the aforesaid order passed by them during the year ended March 31, 2026 The Company has fled @ revsed it petition vath Hon'ble High Court of Karnataka and the matter i pending final resolution ‘The Company believes tha the deduction claimed under Section SOJAA is in accordance wilh the provisions of the Act Based on legal adsice, the Company is reasonshly confident of a pasitive outcome in the mater forthe aforesad assessment years. Exceptional tems. (@) New Labour Codes Efective November 21, 2025, The Govemment of India consolidated multple st labour legsations nto a unified framevork comprising four Labour Codes collectively referred 1 a5 the New Labour Codes The Group assessed and disclosed the ncremental impactof these changes based on the best information avaiable, which tesulied n mcrease in gratty and leave liabilty by Rs. 3 68 crores and the same was recognized as an exceptional tem dunng the year ended March 31, 2026 For bllable employees, the Group s of the view that these costs are contractualy tecanerable from customers and therelore did not heve any ncremental impact on the statement of profit and loss. However, he Group considered the New Labour Codes for the determination of provision of eratuty and compensated abscnces and the ‘consequent reimbursement gt for satuy and compensated absences as 3t March 31, 2026 The Group contimues to monior the developments pertaning ( the implementation of the New Labour Codes, inclucing related ules thereto and would continue 0 assess the accounting implications basis such developments/ gidance as may be needed (b) Sale of insestment in joint venture: During the current quarter, pursuant 1o the Share Purchase Agreoment (SPA) entered it with Crystal HR and Security Solutions Prvate Limited (Crystal HR) and its promoters dated January 6, 2025, the holding company has exercised exit option and tansferred emtre 30% stake 0 Crystal HR and is promoters for an agaregate consideration of Rs 10 12 crores ata loss of Rs. 142 crores which has been recognised 25 an exceptional ttem ia the cansolidated financialtesults of the Group durmg the quarter ended September 30, 2026 Accordingly, Crystal HR ceased o be a joint venture of the Company wih effect from Scptember 21, 2026, (@) tmpairment allowance: Based on the management's assessment of Other intangible assets, the Group has created an impasment allowance of R 156 crores in TeamLease Regtech Private Limited, a subsidiary and he same has been recogised as an exceptional tem in the consolidated financial results of the Group duning the quarter ended September 30, 2026, TeamLease Foundation (TLF), a subsidiary i a sponsoring body of TeanLease Skills University (TLSU) TLSU i regstered under All India Cauncil for Technical Education ((Natianal Employabilny Enhancement Mssion (NEEM) Regulations. 2013 and provides tranees 1o 5 customers under NEEM regulation and pays stipend to these tramees as a single consoldated amount without any stauory deductons or payments Based on venfcation of the records of NEEM trsinees supplied by TLSU fo ts customers during the previous years, the Regonal Provident Fund (PF) Department of Vadodara ws of the view that social securfy benefits in form of Provident Fund, Pension and Insurance, ec. shall be extended o the tramees regstered under NEEM regulation and accordingly, issued a demand towards the aforesaid dues amounting o Rs. 395 crores for the period July 2014 to June 2022 During the ongoin heanngs, TLSU submitted the necessary clanfiestions 10 the Regional Provident Fund (PF) Department of Vadodara. However. during the year ended March 31, 2026, the Regional PF commissioner passed an order under Para 268 of the EPF Scheme, 1952 stating that NEEM tramees were covered under the ambit of the EPF Act and allied schemes and benefits thereon Durng the quarter ended June 30, 2026, TLSU has filed @ special il application with Hon'ble High Court of Guyarat againstthe sad order. During the current quarer, the PF Department niiated proceedings under Secton 125 of the Code on Social Secusty, 2020, 0 determin the dues payable by TLSU TLSU sought a say from the Hon'ble High Court of Gujarat, a5 the related special cnal application is pending with the Hon'ble High Courtof Gujacat, agamst which ad-nterim ralef has been granted and the mater s pending final resolution Based on the fegal opmion obtained by TLSU and a stay osder from Hon'ble High Court of Madras for a sumilar PF notice n the past for one of s cusiomers, managament is of the view that PF and other statutory deductions are not applicable on the stipend paid 0 the raiess and accordingly no adjusiments have been made in the consolidated fnancial resuls of the CGroup The statutory audstors have given an smphasis of matter i their imted review report on the aforesaid matter. On May 20, 2026, the Board of Dirctors approved proposal © buyback up 10 1487,500 fully paid equity shares of Rs. 10 cach, subject o shareholders approval representing § §7% of the total number of equity shates in the paic-up equy share capital as at March 31, 2026 from the shatcholders of the Company on a proportionate basis by way of tender offe ata price of Rs. 1,600 per equiy share, for an ageregate amount not exceeding Rs 238 croes (excludng taxes and expeases incurted m comnection wih the buyback), 1 accordance with the provisions contained i the Securities and Exchange Board of Indsa (Buy-back of ‘Secunties) Regulations, 2018, as amended, and the Companies Act, 2013 and the rules made thereander The shareholders of the Company approved the buyback, by way of special rsofution through a postalballo the reults of which were declared on June 29, 2026 The Letter of offr fo the buyback was filed v Securtios and Exchange Board of India and tender period for Buyback opened on July 09, 2026 and closed on July 15,2026 The setdement o al vald bids was completed on July 21, 2026 and shares were extingishad on July 29, 2026 ‘The buyback resulted i a toral ash outlow of Rs. 240 78 crores (including ransaction coss related o buyback of Rs 278 crores). In line with the requirement of the Companics Act, 2013, Capital Redemption Reserve of Rs. | 49 crores (representing the nominal value of the shares bought back) has bee created as an apportionment from Retained camines “The unaudied consolidated financial resuts or the quarter and hlf ye ended September 30, 2026 include the wnaudited financial resulfs of subsidiares TeamLcase Digial Private Limuted, TearmLease HRTech Private Limied, TeamLease Foundation, Teamease Restech Prvate Limited, Teamlease Edtech Limied, Team.ease Edech Foundation, TSR Darashaw HR Services Private Limited, Teomlease Digital Simgapore Pre Lid., TeamLease Consalting FZCO, TeamLease Digital Consuling Pte. L, TeamLease Digtal Solutions Ple Lid. (incorporated on Séptember 01, 2025), T Business Solutions Inc {incorporated on September 123,2026) and jount venture Crystal HR and Secunty Solutons Prvate Limited (up to Sepember 21, 2026). ‘Teamease Digital Solutons Pie Ltd icorporated on September 01, 2025 and TL Business Solutions Inc. on September 23, 2036, Accordingly, the resuls for the quarter and half year ended September 30, 2026 are ot comparable with the results for the quarir and half yeas ended Scptember 30, 2025 As at September 30, 2026, the canying value of goodwil and mtangible assets on consolidation s Rs 185 57 crores and Rs. 11 crores respectively Based on the valuation assessment caried out by the management and extemal expen during the year ended March 31, 2026, the Group s of te view that the carrying value of the aforesaud goodwillintangible assets is ppropriate. There is o change n the management’s assessment. as regards the aforesaid canying value of goodwill and intangible assets s at September 30, 2026 “The figures of the previous periodsiyear ead have been regrouped! reclssifed, wherever necessary “The dbove consolidated financial resuls of the Company are avalable o the Company’s website (www teamleasegtoup com) and also on the website of BSE (www bseidia com) and NSE (v aseindia com), where the shares of the Company are isted. For and on behalf of the Board of TeamLease Services Limited ' Ashok Kumar Nedurumalli 1 /' Execuive Vice Chairman and Whole-Tiene Director DIN: 00151814 Date. November 5,20 Place: Bengaluny
Page 15
<. ¥ ® Teambease Putting India to Work CEO and CFO Certificate Under Regulation 33(2)(a) of SEBI Listing Obligations and Disclosure Requirements (LODR) Regulation, 2015 To, The Board of Directors, TeamLease Services Limited Infinix Square, B-4, B-5, B-6, HAL Industrial Estate, HAL GB Quarters, Vibhutipura, Bengaluru, Karnataka — 560037, India In compliance with Regulation 33(2)(a) read with Schedule Il Part B of the SEBI Listing Obligations and Disclosure Requirement (LODR) Regulations, 2015 read with the Listing Agreement with the Stock Exchange(s), we, the undersigned hereby certify the following: A. We have reviewed the unaudited quarterly Financial Results of TeamLease Services Limited for the quarter and half-year ended September 30, 2026, and to the best of our knowledge and belief: (1) these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading. (2) these statements together present a true and fair view of the listed entity's affairs and are in compliance with existing accounting standards, applicable laws and regulations. B. There are, to the best of our knowledge and belief, no transaction entered into by the listed entity during the quarter and half-year ended September 30, 2026, are fraudulent, iltegal or violative of the listed entity's code of conduct. C. We accept responsibility for establishing and maintaining internal controls for financial reporting and we have evaluated the effectiveness of Company's internal control systems pertaining to financial reporting and have disclosed to the auditors and the audit committee, deficiencies in the design or operation of such internal controls, if any, of which they are aware and the steps they have taken or propose to take to rectify these deficiencies. D. We have indicated to the Auditors and the Audit Committee that: (i) there are no significant changes in internal control over financial reporting during the quarter and half-year ended September 30, 2026; (ii) there are no significant changes in accounting policies during the quarter and half-year ended September 30, 2026; and that the same have been disclosed in the notes to the financial results; and (iii) there are no instances of significant fraud of which we have become aware during the quarter and half-year ended September 30, 2026. Siparo My 1 —— Suparna Mitra Ramani Dathi Managing Director & Chief Executive Officer Chief Financial Officer & Chief Operating Officer DIN: 07135817 > Place: Bangalore Date: November 05, 2026 TeamLease Services Limited, CIN: L74140KA2000PLC118395 Registered Office: Infinix Square, B-4, B-5, 8-6, HAL Industrial Estate, HAL GB Quarters, Vibhutipura, Bengaluru, Karnataka — 560037 Ph: (91-80) 6824 3333 Fax: (91-80) 6824 3001 Email ID: corporateaffairs @teamlease.com Website: https://group.teamlease.com Ruicinace Partal: hitne: //www teamlaaca ram
Page 16
4 ® Teamlease Putting India to Work TeamLease Services Limited Reports Q2FY27 Results YoY Revenue +4% | PBT +19% | 114 New Logos in Q2FY27 | Crystal HR divestment completed Bengaluru, India, November 05, 2026: TeamLease Services Limited (NSE: TEAMLEASE, BSE: 539658), one of India’s leading people supply chain companies, today announced its consolidated financial results for the second quarter (Q2FY27) and half year (H1FY27) of the financial year ending March 31, 2027. SUMMARY OF CONSOLIDATED FINANCIAL RESULTS All figures in Z crore, except headcount, margin percentages and per-share data. Pa a Q Q QoQ Q2FY26 0 6 Headcount 3,33,170 | 3,41,330 2% | 3,62,000 -8% | 3,33,170] 3,62,000) 2% General Staffing 2,85,000 | 2,90,500 2% | 3,03,350 6% | 285,000 3,03,350) 2% Degree Apprenticeship 40,500 43,200 -6% 51,600 -22% 40,500 51,600 _6%| Specialised Staffing 7,670 7,630 1% 7,050 9% 7,670) 7,050) 1% Total Revenue 3,086 3,056 1% 3,015 2% 6,142 5,897 4% Revenue from Operations 3,076 3,035 1% 3,006 2% 6,111 5,876 4% Operating EBITDA 2 38 17% a2 5% 82 75 1% EBITDA 36 31 15% 38 6% 68 69 2% EBITDA Margin 12% 1.0% 1.3% 11% 1.2% Profit before Tax 30 36 -18% 29 2% 66 55 19% PBT Margin 1.0% 12% 1.0% 11% 0.9% Profit after Tax* 2 34 -25% 28 7% 60 53 14% PAT Margin 0.8% 11% 0.9% 1.0% 0.9% EPS (Z per share) 15 21 16 36 32 *before exceptional HIGHLIGHTS OF Q2FY27 * Revenue growth: Total revenue grew 1% QoQ and 4% H1YoY. * Profitability: Operating EBITDA grew 17% QoQ and 11% H1YoY. Overall EBITDA grew 15% sequentially and marginal decline on YoY basis on account of investments in people, brand and technology . Higher unallocated EBITDA on account of buyback related expenses. * Headcount: Net loss of over ~8k associates during the quarter led by planned exit in Staffing with a low margin of ~7k count. * New client momentum: Added 114 new client logos across all businesses during the quarter. * Crystal HR Divestment: The Company completed the divestment of 30% in Crystal HR with NIL loss on capital investment. * Cash position: Net free cash stood at ¥350 crore, after the buyback outflow, and outstanding TDS receivable of ~ 160 crore.
Page 17
> 4 ® TeamlLease Putting India to Work BUSINESS SEGMENT PERFORMANCE General Staffing * 32 new logos were added during the quarter, of which more than 75% were onboarded under the variable engagement model. * 30% of gross associates hired were first-time job seekers, reinforcing the Company’s employability mandate. * DSO held for 6 days, consistent with the prior quarter. Funding exposure stood at 16% Degree Apprenticeship (DA) * 13 new client logos added during the quarter; 32% of the total associate base has now fully adopted integrated learning solutions. * Leadership transition in Q3FY27; focus now on stabilising and returning the business to growth. Specialised Staffing * Gross revenue grew 1% QoQ and 18% H1YoY. * EBITDA grew by 15% sequentially on account of the better revenue mix which helped India business to achieve 7.6% EBITDA margin and Global at 4.3%. * 40 net headcount additions during the quarter. * The GCC segment contributed over 67% of segment revenue, remaining the cornerstone of volume stability and growth quality. * We currently serve 130+ GCC clients across Life Sciences, Telecom, Consulting, Engineering, BFSI, Consumer and IT verticals, up from 110+ at the end of FY26. HR Services * Segment revenue grew 15% QoQ on account of EdTech and 5% H1YoY. * Segment EBITDA margin stood at 3% for the quarter. * Losses in the segment narrowed YoY, supported by revenue growth and recovery of prior-period dues.
Page 18
> 4 ® TeamlLease Putting India to Work MANAGEMENT COMMENTARY Ms. Suparna Mitra, Managing Director & CEO, TeamLease Services Limited, commenting on the results, said: “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. ” ABOUT TEAMLEASE SERVICES LIMITED TeamLease Services Limited is one of India’s leading people supply chain companies, providing end-to-end workforce solutions to over 2,300+ corporates and 4,000+ employers across hiring, productivity and scale. Listed on the NSE and BSE, TeamLease has placed 26 lakh+ professionals over 25 years. The Company delivers across the three pillars of Employment (~3.3 lakh associates and trainees), Employability (7.5 lakh+ students) and E-Workforce (1,000+ employer clients on platform). INVESTOR & MEDIA CONTACTS Investor Contact Media Contact Ramani Dathi Rahul Mohanto CFO & COO, TeamLease Services Limited Account Manager, Value 360 Tel: +91 80 6824 3333 | Fax: +91 80 6824 3001 Phone: +91 78600 44482 ramani.dathi@teamlease.com rahul @value360india.com DISCLAIMER This document contains forward-looking statements based on the current beliefs and expectations of the Company’s management. Such statements involve known and unknown risks and uncertainties, including fluctuations in earnings, competition, regulatory changes, the implementation of the labour codes, and macroeconomic conditions, that may cause actual results to differ materially from those expressed or implied. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.