IPSL
Integrated Personnel Services financials
- Market cap
- ₹220 Cr
- Sector
- Services
What Integrated Personnel Services Limited does
Integrated Personnel Services Limited (IPSL), incorporated in 2004, delivers end-to-end Human Resource solutions organized under three business heads: Raising (executive search, recruitment process outsourcing, IT staffing), Leasing (flexi-staffing deployed across infrastructure, oil & energy, hospitality, telecom and sales functions) and Management (payroll & compliance management, training and HR policy implementation). Each service line operates under a named internal brand (e.g. IPSEx, IPSRPO, IPSTECH, IPSFSS, IPS HR Accelerator). The company has also extended its footprint overseas through a wholly/majority-owned subsidiary structure and an associate entity.
Segments
- Raising
- Leasing
- Management
- Business heads
- 3 (Raising, Leasing, Management)
- Service verticals
- 11 named service lines across the three business heads
- Subsidiaries
- 4, including IPS Tech Inc (overseas)
- Overseas associate company
- Integrated Personal Services Contracting LLC
- Track record
- Incorporated 2004; ~2 decades of HR service delivery
- Client sectors served
- IT and non-IT sectors, incl. oil & energy, hospitality, telecom
Quarterly results
Q4 FY26: revenue up 63.0%, net profit up 100.0% against the same quarter last year.
| Line item | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 92 | 105 | 111 | 135 | 142 +54% | 174 +66% | 180 +62% | 220 +63% |
| EBITDA | 4 | 5 | 5 | 6 | 5 +25% | 7 +40% | 7 +40% | 10 +67% |
| Net profit | 2 | 3 | 2 | 3 | 3 +50% | 4 +33% | 5 +150% | 6 +100% |
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 −41.9% 1Y
1Y: ₹370 on 10 Sept 2025 → ₹215. High ₹385 (17 Sept 2025), low ₹190 (27 May 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹5 Cr | ₹5 Cr | ₹7 Cr | ₹7 Cr | ₹9 Cr | ₹9 Cr |
| Reserves | ₹8 Cr | ₹12 Cr | ₹25 Cr | ₹34 Cr | ₹52 Cr | ₹58 Cr |
| Borrowings | ₹25 Cr | ₹28 Cr | ₹27 Cr | ₹31 Cr | ₹46 Cr | ₹52 Cr |
| Other liabilities | ₹9 Cr | ₹7 Cr | ₹7 Cr | ₹12 Cr | ₹19 Cr | ₹28 Cr |
| Total liabilities | ₹47 Cr | ₹53 Cr | ₹66 Cr | ₹84 Cr | ₹127 Cr | ₹146 Cr |
| Fixed assets | ₹3 Cr | ₹3 Cr | ₹8 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr |
| Capital work in progress | ₹3 Cr | ₹4 Cr | ₹1 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr |
| Other assets | ₹40 Cr | ₹46 Cr | ₹58 Cr | ₹72 Cr | ₹114 Cr | ₹135 Cr |
| Total assets | ₹47 Cr | ₹53 Cr | ₹66 Cr | ₹84 Cr | ₹127 Cr | ₹146 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, promoters trimmed −2.70 pp while the public added +2.70 pp. The shareholder count grew 107% to 554.
- Promoters
- 64.4%
- Public
- 35.6%
Since Jun 2025
- Promoters −2.70 pp
- Public +2.70 pp
How it drifted, 12 quarters
Over this window promoters fell from 69.0% to 64.4% — −4.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 69.0%, Public 30.9%.Dec '23: Promoters 69.0%, Public 30.9%.Mar '24: Promoters 69.0%, Public 30.9%.Jun '24: Promoters 69.0%, Public 30.9%.Sep '24: Promoters 69.0%, Public 30.9%.Dec '24: Promoters 66.1%, Public 33.9%.Mar '25: Promoters 67.1%, Public 32.9%.Jun '25: Promoters 67.1%, Public 32.9%.Sep '25: Promoters 67.1%, Public 32.9%.Dec '25: Promoters 67.1%, Public 32.9%.Mar '26: Promoters 67.1%, Public 32.9%.Jun '26: Promoters 64.4%, Public 35.6%.
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.
- Jitendra Rasiklal Sanghavi newly disclosed 2.94% held
- Roopal Hitesh Kawa newly disclosed 1.90% held
- Varshit Janak Shah +0.38 pp 1.45% held
- Tarang Raghuvir Goyal +0.32 pp 45.62% held
The same filing shows 6 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Integrated Personnel Services Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Tarang Raghuvir Goyal | 45.62% | +0.32 pp |
| Sandeep Kaur Goyal | 17.83% | −2.82 pp |
| Anant Wealth Consultants | 4.43% | −1.33 pp |
| Jitendra Rasiklal Sanghavi | 2.94% | newly disclosed |
| Sadashiv Kanyana Shetty | 1.98% | −0.37 pp |
| Roopal Hitesh Kawa | 1.90% | newly disclosed |
| Heranba Crop Care Limited | 1.63% | −0.28 pp |
| Varshit Janak Shah | 1.45% | +0.38 pp |
| Kaushik Madhavi | 1.16% | −0.58 pp |
| Nimesh Sahadeo Singh | 1.08% | unchanged |
| Kaushik Hasmukhlal Gandhi | 1.05% | unchanged |
| Raghuvir Prasad Goyal | 0.98% | −0.18 pp |
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.
What the price assumes
- Growth the price implies
- 1.0% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
Learn to analyse Integrated Personnel Services Limited
Guides on how to read this kind of business and the numbers that matter.