Happy Square Outsourcing Services
Happy Square Outsourcing Services (WHITEFORCE) share price was ₹32.80 at the 28 Oct 2026 close; market capitalisation ₹38.05 Cr; sector Commercial Services. The share price fell 53.8% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Mar 2026 quarter, revenue was ₹66 Cr, against ₹49 Cr a year earlier and net profit was ₹4 Cr, against ₹3 Cr a year earlier (compared with Mar 2025). Promoters held 60.90% of Happy Square Outsourcing Services in Sep 2026, unchanged from Mar 2026. Its Tapetide Score is 46/100 (Average) as of 28 Oct 2026.
Key Fundamentals
SMECommercial ServicesServicesPrice-based figures as of 28 Oct 2026, 13:33 IST · TTM
Peer Comparison
Services › Commercial Services › Diversified Services › Diversified Commercial Services
| ₹405.65 | 28.75 | 17,531 Cr | 10.01 | 0.65% | 47.80% | 58.83% | 1,521 Cr | 611 Cr | |
| ₹639.90 | 105.07 | 8,886 Cr | 26.11 | 0.00% | 64.94% | 11.08% | 2,850 Cr | 82 Cr | |
| ₹31.82 | 17.11 | 7,421 Cr | 2.08 | 0.00% | 11.14% | 6.24% | 1,121 Cr | 488 Cr | |
| ₹1,007.30 | 17.04 | 7,097 Cr | 2.25 | 0.71% | 13.77% | 15.50% | 1,055 Cr | 417 Cr | |
| ₹631.00 | 15.93 | 5,686 Cr | 12.13 | 4.76% | 73.83% | 23.30% | 689 Cr | 357 Cr | |
| ₹120.31 | — | 5,300 Cr | 3.51 | 0.00% | 6.19% | 9.00% | 821 Cr | 75 Cr | |
| Happy Square Outsourcing Services (this company) | ₹32.80 | — | 38 Cr | 0.90 | 0.00% | 14.22% | 15.54% | — | — |
| Median 7 companies | ₹405.65 | 17.11 | 7,097 Cr | 3.51 | 0.00% | 14.22% | 15.50% | 1,088 Cr | 387 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 81/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
3- Company has reduced debt.
- Stock is trading at 0.96 times its book value
- Company has a good return on equity (ROE) track record: 3 Years ROE 40.1%
Weaknesses
4- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Debtor days have increased from 103 to 142 days.
- Working capital days have increased from 58.6 days to 109 days
Technical Indicators
Oscillators
Bearish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 7% · Mar 2026
Quarterly Results
| Particulars | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 49 | 49 | 43 | 66 |
| Expenses | 44 | 44 | 41 | 61 |
| Operating Profit | 4 | 5 | 3 | 4 |
| OPM % | 9% | 11% | 6% | 7% |
| Other Income | 0 | 0 | 0 | 0 |
| Interest | 1 | 1 | 1 | 0 |
| Depreciation | 0 | 0 | 0 | 0 |
| PBT | 4 | 4 | 2 | 4 |
| Tax % | 26% | 25% | 7% | -5% |
| Net Profit | 3 | 3 | 2 | 4 |
| EPS (₹) | 3.13 | 3.94 | 1.53 | 3.63 |
Profit & Loss
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Sales | 28 | 53 | 69 | 97 | 109 |
| Expenses | 28 | 50 | 63 | 88 | 102 |
| Operating Profit | 0 | 3 | 6 | 9 | 7 |
| OPM % | 1.6% | 5% | 9% | 10% | 7% |
| Other Income | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 1 |
| PBT | 0 | 2 | 6 | 8 | 6 |
| Tax % | 25% | 25% | 25% | 25% | -1% |
| Net Profit | 0 | 2 | 4 | 6 | 6 |
| EPS (₹) | 250 | 1,790 | 4,390 | 7.06 | 5.15 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 8 | 12 |
| Reserves | 0 | 2 | 7 | 4 | 30 |
| Borrowings | 4 | 7 | 11 | 15 | 7 |
| Other Liabilities | 4 | 6 | 11 | 13 | 12 |
| Total Liabilities | 9 | 14 | 28 | 40 | 61 |
| Fixed Assets | 0 | 0 | 2 | 3 | 4 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 5 |
| Other Assets | 8 | 14 | 26 | 36 | 52 |
| Total Assets | 9 | 14 | 28 | 40 | 61 |
Cash Flow
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating | 0 | -1 | -2 | -2 | -14 |
| Investing | -1 | -1 | -2 | 0 | -1 |
| Financing | 1 | 2 | 4 | 2 | 15 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 1 |
| Free Cash Flow | 0 | -2 | -4 | -3 | -15 |
| CFO/OP | 44 | -28 | -7 | 4 | -196 |
Ratios
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Debtor Days | 78 | 53 | 80 | 86 | 142 |
| Cash Conversion Cycle | 78 | 53 | 80 | 86 | 142 |
| Working Capital Days | 18 | 15 | 27 | 40 | 109 |
| ROCE % | — | 43% | 50% | 41% | 19% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Happy Square Outsourcing Services insights
55 extracted metrics + investor summaries across FY22–FY26.
Documents
Frequently Asked Questions about Happy Square Outsourcing Services
What does Happy Square Outsourcing Services Ltd do?
Where is Happy Square Outsourcing Services Ltd (WHITEFORCE) listed?
Which sector does Happy Square Outsourcing Services Ltd belong to?
What is the market capitalisation of Happy Square Outsourcing Services Ltd?
What is the 52-week high and low of Happy Square Outsourcing Services Ltd?
What is the Return on Equity (ROE) of Happy Square Outsourcing Services Ltd?
Company Information
Incorporated in 2017, Happy Square Outsourcing Services Ltd is in the business of providing technology-based staffing, recruitment and payroll solutions[1]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/WHITEFORCE.md for Happy Square Outsourcing Services Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For
live, structured queries instead of documents, use our Indian stock market MCP server.