H2 growth to mirror H1 performance
Management expects to deliver similar headcount and revenue growth trajectory in H2 FY26 as achieved in H1, building on 21,000 net additions in Q2 with 10,000-15,000 additions projected per quarter.
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growth
Full year headcount growth: single-digit YoY
Despite Q2 sequential recovery, management targets single-digit headcount growth on a full-year basis due to the Q4 FY25 NBFC ramp-down base effect.
Professional staffing margin: low double-digit range
CEO Kapil Jooshi guided that margins in the 11-12% range are expected to sustain going forward, supported by GCC demand and operational efficiency with no major IDC investments planned.
Finance cost rationalization to ₹9-10 crore quarterly
Finance cost expected to moderate to ₹9-10 crore per quarter with ~50% from operational interest and remaining from non-operational interest, rationalizing from the higher Q2 level.
Q4 Net Headcount Addition: 15,000+
Management targets net headcount additions exceeding 15,000 in Q4 FY26, building on strong pipeline and open mandate of 37,000+ positions, with expected recovery in manufacturing and construction sectors post labor code consultations.
Professional Staffing EBITDA Run Rate: ₹30 crores
Management targets professional staffing to exit Q4 with a ₹30 crore quarterly EBITDA run rate, reflecting steady shift toward higher-value, higher-margin GCC and niche digital roles.
General Staffing Margin Trajectory: 1.5-1.6% Near-term, 1.8% Medium-term
Management targets EBITDA margin correction to 1.5-1.6% in near-term and 1.8% in medium-to-long term from current 1.3-1.4%, supported by multi-vertical strategy and value-added services in manufacturing and construction.
Professional Staffing Margin: 11-12% Sustainable Range
Management confirms 11-12% EBITDA margin is structurally sustainable for professional staffing, supported by GCC demand, portfolio rationalization, and exit from low-margin contracts.
Professional staffing revenue growth of 12-13% in FY27
Management expects professional staffing to return to 10-11% headcount growth and 12-13% revenue growth in FY27, driven by new GCC mandates.
Blended EBITDA margin of 2%+ in near term, 2.4% in medium term
Management guided for 2%+ EBITDA margin in the near term and 2.4% over a three-year period, assuming current portfolio mix.
Professional staffing margins to sustain 11-12% in medium term
Professional staffing margins are expected to remain in the 11-12% range, supported by GCC-led demand and niche skill focus.
Overseas blended margins to remain 6%+
International business is expected to maintain blended EBITDA margins above 6%, with Middle East and Philippines at double-digit levels.