HGS

Hinduja Global Solutions share price & financials

Price
₹431.55
Market cap
₹1.9k Cr
Sector
Services
Calls analysed
7
Latest concall · Q1 FY27 · call held 10 Aug 2026

Hinduja Global Solutions Limited Q1 FY27

Revenue from Operations ₹1,050.4 cr −1%EBITDA ₹116.3 cr −27%EBITDA Margin 9.7% −28%PAT ₹-66.3 cr −710%

What went well

  • Added 19 new logos across CX and digital services, and 8 clients in HRO and payroll processing, demonstrating continued client confidence.
  • Incorporated HGS MENA IT Consulting LLC in Dubai to build technology and consulting capabilities and support expansion.
  • Broadband business (CelerityX) saw a strong start to the fiscal, adding new prestigious logos and securing repeat orders.

What to watch

  • Revenue from operations was ₹1,050.4 crores, moderating around 3.2% sequentially and marginally lower by 0.6% YoY.
  • EBITDA margin declined to 9.7% from 15.7% in the previous quarter and 13.5% year-on-year, primarily due to ramp-up and training costs for new business.
Read the full call →

What Hinduja Global Solutions Limited does

HGS provides business process management (BPM) and customer-experience (CX) services — contact centers, back-office processing, HR outsourcing and AI/agentic-AI-enabled customer support — to global enterprises across BFSI, healthcare, telecom, retail and public-sector clients, delivered from delivery centers spread across India, the Philippines, the US, Canada, the UK and other geographies. Through its NXTDIGITAL subsidiary it also operates one of India's largest last-mile digital-delivery platforms, providing digital cable TV (via its HITS headend-in-the-sky platform), wired broadband and OTT content aggregation to households, plus enterprise connectivity (branded CelerityX, with NetX and OneX offerings) to businesses, banks and government bodies. It earns revenue from BPM/CX service contracts with global clients and from subscription, broadband and connectivity fees in its India-focused digital media business.

Segments

  • CX Services (BPM)
  • Digital & Media Services (NXTDIGITAL)
Global delivery footprint
9 countries, 32 delivery centers
NXTDIGITAL connected homes (digital TV + broadband)
6 million+
Owned + partner fibre network
2 lakh+ km
Pin codes covered by NXTDIGITAL
4,500+
NXTHUBs (last-mile service points) across India
125+
HGS Agent X platform — active customers
23
Founded 1995Headquarters Bengaluru, India Company website

Guidance record · Q1 FY27

what the last two calls moved 13 tracked 2 delivered 4 missed 7 open
  • CelerityX Revenue Contribution went quiet said Q1 FY26 Promised: By the end of this fiscal year, its contribution will be well into double digits. Q1 FY27: Management provided positive qualitative updates on CelerityX for Q1 FY27 but did not retrospectively address the specific double-digit contribution target for FY26.
  • Media Business PBT at risk said Q3 FY25 Promised: Expect to achieve PBT break-even within the next 24 to 28 months. Q1 FY27: Company PBT before exceptional items was negative ₹52.8 crores, with the digital television business continuing to face significant headwinds.
  • BPM Digital Revenue Share delivered said Q4 FY25 Promised: By the end of next year (FY26), we expect it to be approximately 32% digital and 68% traditional business. Q4 FY26: Full year FY26 Digital and Media Services revenue share was 45%, exceeding the original 32% target.

All 13 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 0.6%, net profit down 700.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,087 1,064 1,161 1,056 1,091 +0%1,075 +1%1,085 −7%1,050 −1%
EBITDA34 64 142 29 26 −24%17 −73%27 −81%-34 −217%
Net profit-51 -9 -2 11 -27 +47%34 +478%-14 −600%-66 −700%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −27.5% 1Y

₹350₹400₹450₹500Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 11 Nov 2025Q3 FY26 — 13 Feb 2026Q4 FY26 — 5 Jun 2026Q1 FY27 — 10 Aug 2026

1Y: ₹526 on 10 Sept 2025 → ₹381.45. High ₹534 (27 Oct 2025), low ₹344.7 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−3.7%
10 Aug
Q4 FY26
−0.4%
5 Jun
Q3 FY26
−2.4%
13 Feb
Q2 FY26
−2.5%
11 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 0.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 2.3%.

Year endingFY23FY24FY25FY26
Revenue₹4.3k Cr₹4.6k Cr₹4.4k Cr₹4.3k Cr
Operating profit₹231 Cr₹356 Cr₹257 Cr₹99 Cr
Operating margin5.4%7.7%5.8%2.3%
Interest₹102 Cr₹184 Cr₹229 Cr₹207 Cr
Depreciation₹398 Cr₹534 Cr₹523 Cr₹504 Cr
Net profit₹390 Cr₹131 Cr₹100 Cr₹4 Cr
Net margin9.1%2.8%2.3%0.1%
Cash from operations₹111 Cr₹192 Cr₹457 Cr₹413 Cr
Free cash flow₹173 Cr₹263 Cr₹238 Cr₹286 Cr
ROCE2.0%2.0%3.0%1.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹21 Cr₹42 Cr₹53 Cr₹47 Cr₹47 Cr₹47 Cr
Reserves₹2.1k Cr₹8.0k Cr₹8.5k Cr₹7.4k Cr₹7.9k Cr₹8.3k Cr
Borrowings₹1.2k Cr₹1.4k Cr₹998 Cr₹2.1k Cr₹1.9k Cr₹2.0k Cr
Other liabilities₹1.1k Cr₹2.1k Cr₹1.7k Cr₹1.5k Cr₹1.5k Cr₹1.4k Cr
Total liabilities₹4.3k Cr₹11.6k Cr₹11.3k Cr₹11.1k Cr₹11.3k Cr₹11.7k Cr
Fixed assets₹1.6k Cr₹2.2k Cr₹2.8k Cr₹2.8k Cr₹2.8k Cr₹2.9k Cr
Capital work in progress₹3 Cr₹9 Cr₹13 Cr₹13 Cr₹12 Cr₹16 Cr
Investments₹5 Cr₹2.5k Cr₹2.8k Cr₹3.3k Cr₹3.8k Cr₹4.1k Cr
Other assets₹2.8k Cr₹6.9k Cr₹5.7k Cr₹5.0k Cr₹4.7k Cr₹4.6k Cr
Total assets₹4.3k Cr₹11.6k Cr₹11.3k Cr₹11.1k Cr₹11.3k Cr₹11.7k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −0.10 pp. The shareholder count shrank 8% to 58,132.

Promoters
68.0%
FIIs
11.7%
DIIs
0.0%
Government
0.1%
Public
20.2%

Since Jun 2025

  • FIIs −0.10 pp
  • Public +0.06 pp
  • Government +0.05 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 67.7%, FIIs 12.4%, DIIs 0.3%, Public 19.6%.Dec '23: Promoters 67.7%, FIIs 12.4%, DIIs 0.3%, Public 19.6%.Mar '24: Promoters 67.7%, FIIs 12.5%, DIIs 0.2%, Public 19.6%.Jun '24: Promoters 68.0%, FIIs 12.5%, DIIs 0.2%, Public 19.3%.Sep '24: Promoters 68.0%, FIIs 12.9%, DIIs 0.2%, Public 18.9%.Dec '24: Promoters 68.0%, FIIs 12.0%, DIIs 0.2%, Public 19.8%.Mar '25: Promoters 68.0%, FIIs 11.9%, DIIs 0.0%, Public 20.1%.Jun '25: Promoters 68.0%, FIIs 11.8%, DIIs 0.0%, Public 20.1%.Sep '25: Promoters 68.0%, FIIs 11.8%, DIIs 0.0%, Public 20.2%.Dec '25: Promoters 68.0%, FIIs 11.8%, DIIs 0.0%, Government 0.1%, Public 20.1%.Mar '26: Promoters 68.0%, FIIs 11.8%, DIIs 0.0%, Government 0.1%, Public 20.2%.Jun '26: Promoters 68.0%, FIIs 11.7%, DIIs 0.0%, Government 0.1%, Public 20.2%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Hinduja Global Solutions Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Hinduja Group Limited 37.85%unchanged
Amas Mauritius Limited 14.04%unchanged
Hinduja Realty Ventures Limited 6.41%unchanged
Allstars Investments Limited FPI fund3.59%+1.78 pp
Legends Global Opportunities (Singapore) Pte. Ltd. FPI fund3.21%−1.78 pp
Bridge India Fund FPI fund2.98%unchanged
Harsha Ashok Hinduja Jt. Ashok P. Hinduja & Harsha Ashok Hinduja 2.61%unchanged
Ashok P. Hinduja, Karta of S.P. Hinduja HUF (Bigger) 2.46%unchanged
Indusind International Holdings Limited 1.50%unchanged
HINDUJA GROUP LTD JTLY WITH HINDUJA REALTY VENTURES LTD(as Demat A/c holder and Partners of Aasia Exports) 1.30%unchanged
Unico Global Opportunities Fund Limited FPI fund1.25%unchanged
Ambika Ashok Hinduja 0.83%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Hinduja Global Solutions Limited

Guides on how to read this kind of business and the numbers that matter.