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Hinduja Global Solutions Ltd (HGS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532859 NSE: HGS BPO/ITeS | Small Cap | Hinduja Global Soln. Share Price

₹379.60 -9.50 (-2.44%)

As on 18-Sep'26 16:59

Hinduja Global Solutions Ltd (HGS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532859 NSE: HGS BPO/ITeS | Small Cap | Hinduja Global Soln. Share Price

₹379.60 -9.50 (-2.44%)

As on 18-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,766 Cr.
Current Price
₹379.6
52-Week Low / High
₹342 / 550
TTM EPS
₹6.9
TTM Sales
₹4,307 Cr.
Book Value per Share
₹1,773.3
P/E Ratio
54.86
Industry PE
21.4
Price to Book (P/B)
0.21
Lower than its 5-year historical median
Price to Sales (P/S)
0.41
Lower than its 5-year historical median
EV/EBITDA
4.12
Lower than its 5-year historical median
Dividend Yield
1.32%
Profitability Efficiency
Return on Equity (ROE)
-1.79%
Underperforms industry median
Return on Capital Employed (ROCE)
1.44%
Underperforms industry median
Return on Assets (ROA)
-1.14%
Operating Profit Margin
2.4%
Net Profit Margin
-3.32%
Gross Profit Margin
10.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
6.78%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-61%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
67.99%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹8,203 Cr.
Equity
₹46.5 Cr.
Face Value
₹10
All Time Low / High
₹46.00 / 1974.00

Hinduja Global Solutions stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good
Check detailed performance

Valuation

Fair

Check Valuation charts

Price Trend

Weak
Check Price chart
Q.1 Is Hinduja Global Solutions Ltd a good quality company?
Hinduja Global Solutions Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Hinduja Global Solutions Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Hinduja Global Solutions Ltd vs industry peers?
Hinduja Global Solutions Ltd revenue CAGR is 10.61%, compared to the industry median CAGR of 1.12%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Hinduja Global Solutions Ltd?
Promoters hold 67.99% of the Hinduja Global Solutions Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Hinduja Global Solutions Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 3.2% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Hinduja Global Solutions Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ14.6%19.2%18.5%16.9%-2.3%-0.6%4.1%1%-3.5%-0.8%-
Value Creation
Index ⓘ		0.00.40.30.2-1.2-1.0-0.7-0.9-1.3-1.1-

Growth Parameters ⓘ
Sales ⓘ1,5982,0591,8502,1425281,2501,3231,5781,7111,8271,813
Sales YoY Gr.-28.9%-10.1%15.8%-75.3%136.7%5.9%19.3%8.4%6.8%-
Adj EPS ⓘ27.650.35048.4-11.1-24.129.3-17.1-72-45.5-34.5
YoY Gr.-82.7%-0.7%-3.2%-123%NANA-158.2%NANA-
BVPS (₹) ⓘ238.3329.7377.9402.9456.11,012.9839.2666.8589.2555.3541.9
Adj Net
Profit ⓘ		114209208202-46.5-101154-79.3-335-212-160
Cash Flow from Ops. ⓘ228165288514418-164-126-16.8-122-34.6-
Debt/CF from Ops. ⓘ0.70.90.61.81.8-4.6-3.6-36.2-6.4-20.8-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ1.5%28.2%11.4%6.8%
Adj EPS ⓘ-205.7%NA-215.9%NA
BVPSⓘ9.9%4%-12.9%-5.8%
Share Price 3.2% -23.3% -27.8% -28.4%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		11.917.714.112.4-2.6-3.33.6-2.1-11.5-8-6.3
Op. Profit
Mgn % ⓘ		15.115.518.421.3-11.42.22.92.6-2.6-1.4-2.9
Net Profit
Mgn % ⓘ		7.210.211.39.4-8.8-8.111.6-5-19.6-11.6-8.9
Debt to
Equity ⓘ		0.20.10.10.50.40.20.10.20.30.3-
Working Cap
Days ⓘ		1951892923221,5157731,016888693673150
Cash Conv.
Cycle ⓘ		41661181074651103145393940

Valuation of Hinduja Global Soln. - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.0014.2314.690.0014.2314.2314.230.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales3,7113,8494,4704,9872,6024,2734,5054,6164,4044,307
Operating Expenses > ⓘ + 3,2933,4434,0524,3202,5244,0064,2574,2564,1424,205
Manufacturing Costs19019118120792593567690789873
Material Costs0000041404061127
Employee Cost 2,4562,5963,0173,3282,1052,5992,7572,6292,4792,441
Other Costs > ⓘ 647656854785327771894896814764
Operating Profit > ⓘ 41840641866778268248360262102
Operating Profit Margin (%) 11.3%10.5%9.4%13.4%3.0%6.3%5.5%7.8%5.9%2.4%
Other Income > ⓘ + 2336445771206502472555550
Exceptional Items > ⓘ 0-120-21-109-773300-9
Interest > ⓘ 4335409435161141188234210
Depreciation > ⓘ 143141178291117345455534523505
Profit Before Tax > ⓘ 255254243317-113-11018611060-72
Tax > ⓘ 755571133-54-71-102-2117871
Profit After Tax 179199173184-59-39288131-118-143
PAT Margin (%) 4.8%5.2%3.9%3.7%-2.3%-0.9%6.4%2.8%-2.7%-3.3%
Adjusted EPS (₹)43.348.242.548.480.51,446.863.228.626.16.9
Dividend Payout Ratio (%)11.60%10.40%11.80%20.70%24.90%16.90%23.70%24.50%0%72.30%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,3351,5191,6431,7192,0848,0658,5477,4887,7088,317
Share Capital ⓘ 21212121214253474747
Reserves ⓘ 1,3151,4981,6221,6982,0638,0238,4947,4417,6628,270
Debt +6044435391,2289577852791,233758798
Long Term Debt3602003791,03185613594134330228
Short Term Debt2442431601971016511841,099428571
Minority Interest-0-18120154156155147120
Trade Payables154186241282384630417296509351
Others Liabilities ⓘ 6307708571,2061,4422,5772,7532,5882,9583,449
Total Liabilities ⓘ 2,7232,9173,2884,4474,86712,21212,15111,76012,08013,035

Fixed Assets

Net Fixed Assets ⓘ +9499191,0331,7331,5782,1742,7892,7342,9002,874
Gross Block1,1521,1941,5062,3872,2643,2153,9784,2094,7335,085
Accumulated Depreciation2032754736546861,0411,1881,4751,8332,211
CWIP ⓘ 32155391313918
Investments ⓘ 511151052,4822,7533,3003,6434,144
Inventories000001217172631
Trade Receivables4638241,1669891,231708733745764872
Cash Equivalents 3754753275355363,5701,210881856690
Others Assets ⓘ 8996877421,1741,5143,2564,6364,0703,8814,406
Total Assets ⓘ 2,7232,9173,2884,4474,86712,21212,15111,76012,08013,035
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 409343170884692530111192457413
PBT ⓘ 2552542483494447,00819011027876
Adjustment ⓘ 171156230371395-5,93418529554631
Changes in Working Capital ⓘ 60-31-232303-1699-77-15087-257
Tax Paid ⓘ -77-36-76-139-132-643-186-6437-37
Cash Flow From Investing Activity ⓘ + -113-60-244-404-2091,921-88174502-137
Capex -181-121-186-116-147-4306171-219-127
Net Investments 5642-7540-2-3,8561,131-652124-354
Others ⓘ 122017-329-606,207-1,280755597344
Cash Flow From Financing Activity ⓘ + -246-136-83-310-476-867-1,108-808-898-511
Net Proceeds from Shares ⓘ 1221111000
Net Proceeds from Borrowing ⓘ 0000000000
Interest Paid ⓘ -43-35-40-103-89-203-141-178-229-206
Dividend Paid ⓘ -22-25-25-57-37-445-109-11-28-1
Others ⓘ -182-78-20-151-350-221-859-619-641-304
Net Cash Flow ⓘ 50147-15617071,584-1,085-44261-236
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)14.2113.9510.9310.95-3.08-0.773.471.64-1.55-1.79
ROCE (%)14.7914.0913.0215.2-2.420.833.63.273.211.44
Asset Turnover Ratio1.381.371.441.290.560.50.370.390.370.34
PAT to CFO Conversion(x)2.281.720.984.8N/AN/A0.391.47N/AN/A
Working Capital Days
Receivable Days45.306181.3078.90155.7082.8058.4058.4062.5069.30
Inventory Days000001.101.201.301.802.40
Payable Days000004,471.304,807.903,245.702,418.901,232.60

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Announcements

Hinduja Global Solutions Ltd FAQs

The current trading price of Hinduja Global Soln. on 18-Sep-2026 16:59 is ₹379.6.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Sep-2026 the market cap of Hinduja Global Soln. stood at ₹1,765.9 Cr

The latest P/E ratio of Hinduja Global Soln. as of 17-Sep-2026 is 0.00.

The latest P/B ratio of Hinduja Global Soln. as of 17-Sep-2026 is 0.70.

The 52-week high of Hinduja Global Soln. is ₹550.5 and the 52-week low is ₹341.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hinduja Global Soln. is ₹1,813 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Hinduja Global Solutions Ltd is a average quality company.

The key valuation ratios of Hinduja Global Solutions Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Hinduja Global Solutions Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Hinduja Global Solutions Ltd

Hinduja Global Solutions started its operations with one client and 25 employees in the year 2000. Today, it is a leading provider of outsourcing solutions to a global clientele of Fortune 500 companies,

From its inception, Hinduja Global Solutions had set its sights high, and was focused on building client's businesses. The success graph grew rapidly.

Between 2000 and 2003, Hinduja Global Solutions acquired businesses of major international clients, some of who were among the leaders in the insurance & telecom industries, thus establishing itself as a major player to reckon with.2003 also marked the company’s entry into international markets, with the establishment of its center in Manila.

The company’s vision is to be a globally preferred business process transformation partner for its clients, creating value in their business through innovative outsourcing solutions.

The company is a part of Hinduja Group that was founded in 1914 by a young entrepreneur from Shikarpur, Parmanand Deepchand Hinduja. He spotted opportunities and seized them wherever they surfaced. He traveled to Mumbai in 1914, and quickly learnt the ropes of business. The business journey which began in Sind, entered the international arena in 1919, with an office in Iran, the first outside of India. Merchant banking and trade were the twin pillars of the business. The Group remained headquartered in Iran until 1979, when it moved to Europe.

Products  and services offered by the company are:

Consumer Electronics:

  • Parts / Accessories Sales

Health Insurance

  • Insurance Policy Sales

Banking and Financial Services

  • Credit Card Sales

Extensive and Intensive Technical Support for various consumer electronic products. including -

  • Installation
  • Configuration

Provide technical support for software applications

  • Installation
  • Configuration
  • How to use the application

Awards & Achievements:

Industry Recognition:

  • Number one of the ITES Companies in India,
  • Winner most Innovative BPO Philippines
  • Top 15 ITES BPO exporters FY07/08
  • Top 10 employer’s employee satisfaction HR practices
  • 1 of the 200 'best under a billion forbes Asia'
  • Gold Medalist Compentency Development
  • Top 2 call centre companies globally (last 3 years)
  • Gold Medalist Lean Six Sigma 

  Quality Certification:

  • ISO 9001:2000 – UKAS
  • ISO 9001:2000 – ANAB
  • ISO 27001 
  • HIPAA – Health Insurance
  • Six Sigma Process Improvement 
  • ISO 27001 – Underway
  • SAS 70   

  Milestones of the company:

2000 Launch of HTMT brand First International Customer with 23 seatsISO 9001:2000 certification

2001-2004 Acquisition of Philippines center1500 seat facility in Bangalore India Employee strength 1700

2005-2006 Acquired source oneBS 7799 certification Strategic foray into national markets 300 seat DR center in Mauritius HIPAA certification Employee strength, 7000

2007-2008 Acquired Affina Foray into more verticals Expansion into Tier 2 cities in India First Healthcare contact center in Manila ISO 27001 certification Most Innovation BPO company ICT

2009 Employee Strength 14500  Entry into the UK market Expansion into China Inorganic growth – Acquisition underway

2010-12 Acquired careline services
Expanded into Tier III centres in India- Guntur and Nagarcoil.
Operations commence at global village SEZ in Banglore.
New centres at Llolio ( Philippines) and Siliguri (India).
Acquired one line supoprt HCCA & EBOS E-SCM level-4

2014- Hinduja Global Solutions (HGS), announced the opening of a new center in Princeton, New Jersey in the US.


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