Happy Square Outsourcing Services Ltd (WHITEFORCE) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 0 | NSE: WHITEFORCE | Professional Services | Small Cap

BSE Share Price
Not Listed

Happy Square Outsourcing Services Ltd (WHITEFORCE) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 0 | NSE: WHITEFORCE | Professional Services | Small Cap

DeciZen - make an informed investing decision on Happy Square

Based on:

M-Cap below 100cr DeciZen not available

Happy Square Outsourcing Services stock performance -

Key Ratios
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P/E Ratio (SA):
14.31
Market Cap:
84.5 Cr.
52-wk low:
0
52-wk high:
0

Is Happy Square Outsourcing Services Ltd an attractive stock to invest in?


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10 Year X-Ray of Happy Square: Login to view analysis.

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.
Happy Square Outsourcing Services Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 9.1%43.1%49.6%40.9%-
Value Creation
Index
-0.42.12.51.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 28.252.769.397.497
Sales YoY Gr.-86.7%31.5%40.6%-
Adj EPS 0.32.15.275.1
YoY Gr.-634.5%145.1%34.5%-
BVPS (₹) 0.42.57.814.813.5
Adj Net
Profit
0.31.84.45.96
Cash Flow from Ops. -0-1.4-1.9-1.6-
Debt/CF from Ops. -97.8-4.6-5.8-8.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA51.1%40.6%
Adj EPS NANA189.3%34.5%
BVPSNANA228.1%89.8%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
69.8143.5100.86235.9
Op. Profit
Mgn %
1.65.49.39.6NAN
Net Profit
Mgn %
0.93.46.36.16.1
Debt to
Equity
10.93.11.71.2-
Working Cap
Days
0741041160
Cash Conv.
Cycle
03148670

Recent Performance Summary

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Latest Financials - Happy Square Outsourcing Services Ltd.

Standalone Consolidated
TTM EPS (₹) 5.1 -
TTM Sales (₹ Cr.) 97.4 -
BVPS (₹.) 13.5 -
Reserves (₹ Cr.) 4 -
P/BV 5.39 -
PE 14.31 -
From the Market
52 Week Low / High (₹) 0.00 / 0.00
All Time Low / High (₹) - / -
Market Cap (₹ Cr.) 84.5
Equity (₹ Cr.) 11.6
Face Value (₹) 10
Industry PE 47.8

Management X-Ray of Happy Square:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Happy Square - Standalone Basis

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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Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios of Happy Square

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Sales28.2352.7069.2997.41
Operating Expenses 27.7749.8662.8488.10
Manufacturing Costs26.6647.4761.1984.98
Material Costs0000
Employee Cost 0.301.3411.52
Other Costs 0.821.060.661.59
Operating Profit 0.462.846.449.31
Operating Profit Margin (%) 1.6%5.4%9.3%9.6%
Other Income 0.020.100.250.27
Interest 0.050.400.661.15
Depreciation 0.100.160.180.45
Exceptional Items 0000
Profit Before Tax 0.332.395.867.98
Tax 0.080.601.472.07
Profit After Tax 0.251.794.395.90
PAT Margin (%) 0.9%3.4%6.3%6.1%
Adjusted EPS (₹)0.32.15.27.0
Dividend Payout Ratio (%)0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 0.352.146.5712.48
Share Capital 0.010.010.018.41
Reserves 0.342.136.564.07
Minority Interest0000
Debt3.856.5710.9814.59
Long Term Debt2.972.673.093.11
Short Term Debt0.883.907.9011.48
Trade Payables1.912.551.450.81
Others Liabilities 2.5339.3511.71
Total Liabilities 8.6414.2628.3639.59

Fixed Assets

Gross Block0.530.732.624.09
Accumulated Depreciation0.140.300.480.94
Net Fixed Assets 0.390.432.143.15
CWIP 0000
Investments 000.010.03
Inventories0000
Trade Receivables6.017.6215.1722.86
Cash Equivalents 0.490.230.220.65
Others Assets 1.755.9910.8112.89
Total Assets 8.6414.2628.3639.59

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity -0.04-1.43-1.88-1.64
PBT 0.332.395.867.98
Adjustment 0.160.520.711.54
Changes in Working Capital -0.29-3.71-7.01-9.1
Tax Paid -0.24-0.63-1.43-2.06
Cash Flow From Investing Activity -1.22-1.16-1.88-0.39
Capex -0.23-0.19-1.90-1.47
Net Investments 00-0.01-0.02
Others -0.99-0.970.031.10
Cash Flow From Financing Activity 0.892.323.752.46
Net Proceeds from Shares 0000
Net Proceeds from Borrowing 0.09-0.300.410.02
Interest Paid -0.05-0.40-0.66-1.15
Dividend Paid 0000
Others 0.853.0243.59
Net Cash Flow -0.37-0.27-00.43

Finance Ratio

PARTICULARSMar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)69.82143.47100.8261.97
ROCE (%)9.0743.1249.6140.92
Asset Turnover Ratio3.274.63.252.87
PAT to CFO Conversion(x)-0.16-0.8-0.43-0.28
Working Capital Days
Receivable Days78476071
Inventory Days0000
Payable Days0000

Happy Square Outsourcing Services Ltd Stock News

Happy Square Outsourcing Services Ltd FAQs

The current trading price of Happy Square on 01-Jan-1970 05:30 is ₹0.00.
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 31-Dec-1969 the market cap of Happy Square stood at ₹84.45.
The latest P/E ratio of Happy Square as of 31-Dec-1969 is 14.31.
The latest P/B ratio of Happy Square as of 31-Dec-1969 is 5.39.
The 52-week high of Happy Square is ₹0.00 and the 52-week low is ₹0.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Happy Square is ₹97.41 ( Cr.) .

About Happy Square Outsourcing Services Ltd

Happy Square Outsourcing Services Limited was incorporated on April 20, 2017 as a private limited company as ‘Splendid Academy Private Limited’, under the Companies Act, 2013, pursuant to a certificate of incorporation dated April 20, 2017 issued by the Registrar of Companies, Central Registration Centre. Subsequently, pursuant to a resolution passed by its Board of Directors in its meeting held on January 16, 2020, and by the Shareholders in their Extraordinary General Meeting held on January 17, 2020, the name of the company was changed to ‘Happy Square Outsourcing Services Private Limited’ and a fresh certificate of incorporation dated February 3, 2020 was issued by the Registrar of Companies, Gwalior. The reason to change the name of the company is to better reflect the main business objects of the company. Further, the company was converted into a public limited company pursuant to a resolution passed by its Board of Directors in its meeting held on June 1, 2024, and by the Shareholders in an Extraordinary General Meeting held on June 26, 2024 and consequently the name of the company was changed to ‘Happy Square Outsourcing Services Limited’ and a fresh certificate of incorporation dated August 1, 2024 was issued by the Registrar of Companies, Central Processing Centre.

The company is a technology-based consulting firm, involved in Tech based human resource outsourcing business which focuses on end-to-end solution. Promoters of the company, Shraddha Rajpal and Nalini Rajpal have an experience in the staffing industry. Driven by the passion for building an integrated staffing company, backed by their experience, its Promoters are the pillars of the company's growth and have built a strong value system for the company. With their enriching experience and progressive thinking, it aims to continue to grow in the human resource outsourcing business.

The company offers a wide array of services such as Recruitment, Payroll, Onboarding and flexible staffing. Its comprehensive network, structured processes, professionalism and strong work ethics ensure that it remain at the top on the domestic scale. It satisfies firms’ staffing, and recruitment needs in India through this specialised rich knowledge. Its substantial talent pool and deep understanding of the hiring industry has helped it to achieve significant strides in the HR market. It is also an ISO 9001:2015 certified company. A proper staffing process allows it to identify the current and future requirements of the clients. Further, it helps it to create and execute a plan as per the derived requirements to hire the most suitable candidates.

Business area of the company

The company is engaged in the business of Manpower supply, Recruitment and related services.

Services of the company

  • General staffing
  • Industrial staffing
  • Apprentice solution
  • Payroll management
  • Compliance management
  • RPO (recruitment process outsourcing - permanent recruitment)
  • Sourcing of staff/associates

History and milestones

  • 2020: HSOS was founded as Happy Square Outsourcing Services P. Ltd. and began its operations with the Recruitment business, initially focusing on one state.
  • 2021: HSOS introduced Contract Staffing services, expanding its presence to 4 states by working with private players and later qualifying for government tenders.
  • 2021: HSOS experienced significant growth, moving from a 1000 sqft office to a 20000 sqft space. During the same period, the company achieved ISO certification, and secured key partnerships with major companies like TATA and Reliance, two of India's top 5 corporations.
  • 2022: HSOS expanded further by launching its Facility Management Business, establishing a presence in 8 states. It also built an in-house IT department, allowing the company to become fully self-reliant in technology solutions.
  • 2023:  HSOS grew its footprint to 25+ states and gained further visibility by being featured in various media outlets.
  • 2024: HSOS completed the development of its Application Tracking System (ATS) named Whiteforce+, enabling payroll management through its self-developed ERP system. The company also developed the Happiest Resume database, which now holds the data of 1 million users and is integrated with 11 countries, offering more than 3000 live job openings. Additionally, HSOS qualified for an Rs 17 crore project with the Aeronautical Development Agency, Ministry of Defence, being rated and graded by from Dun & Bradstreet, and reached a significant milestone of 1.4 lakh LinkedIn followers.

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