Happy Square Outsourcing Services IPO Review

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Promoters of the company, Shraddha Rajpal and Nalini Rajpal have a combined experience of 10 plus years in the staffing industry. Driven by the passion for building an integrated staffing company, backed by their experience, the Promoters are the pillars of the Company's growth and have built a strong value system for the Company.

The Revenues from operations for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 9,768.35 Lakh, ₹ 6,954.31 Lakh and ₹ 5,280.11 Lakh. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 958.25 Lakh, ₹ 669.89 Lakh and ₹ 294.13 Lakh. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 590.34 Lakh, ₹ 439.32 Lakh and ₹ 178.78 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 7.02 and post-issue EPS of ₹ 5.09 for FY24. The pre-issue P/E ratio is 10.82x, while the post-issue P/E ratio is 14.93x against the Industry P/E ratio is 40.00x. The company's ROCE for FY24 is 57.75%, ROE for FY24 is 61.97% and RoNW is 61.97%. These metrics suggest that the IPO is fully priced.

The Grey Market Premium (GMP) of Happy Square Outsourcing Services showing listing gains of 0.00 %.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Happy Square Outsourcing Services Limited IPO for Listing gain.

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About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.