HOV Services Limited (IN:HGM)
:HGM
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HOV Services Limited
(HGM)
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Rating:57Neutral
Price Target:
₹49.00
▼(-26.55% Downside)
Action:Reiterated
Date:03/24/26
The score is primarily supported by solid financial statement strength (revenue growth, profitability, and conservative leverage), but is meaningfully constrained by weak cash flow conversion and deteriorating margin/equity trends. Technicals remain mixed-to-weak (below key longer-term averages and negative MACD), and valuation signals are difficult to rely on due to the negative P/E and missing dividend yield.
Positive Factors
Revenue Growth
Exceptionally strong reported revenue growth demonstrates expanding demand for HOV's outsourcing services. In a fee-based, contract-driven BPO model this growth is durable over quarters, enabling reinvestment in capacity, pricing leverage and scale economies that support sustainable topline momentum.
Negative Factors
Weak Cash Conversion
Negative operating and free cash flow indicate difficulty converting profits into cash, constraining internal funding for growth, technology upgrades or working capital. Over several months this can force reliance on external financing and reduce flexibility for durable capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Exceptionally strong reported revenue growth demonstrates expanding demand for HOV's outsourcing services. In a fee-based, contract-driven BPO model this growth is durable over quarters, enabling reinvestment in capacity, pricing leverage and scale economies that support sustainable topline momentum.
Read all positive factors
HOV Services Limited (HGM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹706.83M
Dividend YieldN/A
Average Volume (3M)1.86K
Price to Earnings (P/E)165.2
Beta (1Y)1.79
Revenue Growth146.53%
EPS Growth-88.61%
CountryIN
Employees652
SectorServices
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)4.10
Shares Outstanding12,594,972
10 Day Avg. Volume1,396
30 Day Avg. Volume1,857
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)2.39
Price to Sales (P/S)2.56
P/FCF Ratio-85.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
HOV Services Limited Business Overview & Revenue Model
Company Description
Handson Global Management (HGM) Limited, operating with its various subsidiaries, offers a comprehensive range of software and IT-enabled services. The company's core activities encompass software development, maintenance, support, and related sol...
How the Company Makes Money
HOV Services Limited generates revenue primarily through its outsourcing business model by offering fee-based services to its clients. These services include data entry, document processing, electronic content management, and other back-office man...
HOV Services Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 305.02M | 224.68M | 224.68M | 161.24M | 120.55M | 96.55M |
| Gross Profit | 55.20M | 26.84M | 38.81M | 31.67M | 29.18M | 44.34M |
| EBITDA | 75.02M | 59.68M | 44.16M | 62.15M | 35.29M | 38.86M |
| Net Income | 51.68M | 42.17M | 42.17M | 26.86M | 45.69M | 21.49M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 395.31M | 395.31M | 376.66M | 452.73M | 452.73M |
| Cash, Cash Equivalents and Short-Term Investments | 75.57M | 75.57M | 78.06M | 108.92M | 87.83M | 46.31M |
| Total Debt | 0.00 | 14.05M | 10.48M | 14.19M | 30.64M | 29.75M |
| Total Liabilities | -240.57M | 154.74M | 128.46M | 150.76M | 153.22M | 210.48M |
| Stockholders Equity | 240.57M | 240.57M | 228.42M | 225.90M | 299.51M | 959.37M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -6.72M | -6.72M | 15.39M | 18.66M | 1.17M |
| Operating Cash Flow | 0.00 | -6.44M | -6.44M | -7.03M | 25.21M | 1.17M |
| Investing Cash Flow | 0.00 | 11.81M | 16.14M | 36.84M | 24.82M | 9.46M |
| Financing Cash Flow | 0.00 | -8.93M | -5.00M | -5.00M | -12.91M | -21.18M |
HOV Services Limited Technical Analysis
Negative
66.71
Price Trends
56.60
Negative
56.88
Negative
64.85
Negative
Market Momentum
0.47
Positive
43.42
Neutral
17.20
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HGM, the sentiment is Negative. The current price of 66.71 is above the 20-day moving average (MA) of 60.84, above the 50-day MA of 56.60, and above the 200-day MA of 64.85, indicating a bearish trend. The MACD of 0.47 indicates Positive momentum. The RSI at 43.42 is Neutral, neither overbought nor oversold. The STOCH value of 17.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HGM.
HOV Services Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | ₹706.83M | 165.25 | ― | ― | 146.53% | -88.61% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
53 Neutral | ₹484.89M | 54.29 | ― | ― | 53.44% | 57.06% | |
51 Neutral | ₹628.39M | 131.13 | ― | ― | -9.00% | ― | |
51 Neutral | ₹595.85M | -10.98 | ― | ― | -9.88% | 32.17% | |
41 Neutral | ₹332.91M | -0.68 | ― | ― | -29.59% | -3524.70% |
* Services Sector Average
IN:HGM
HOV Services Limited
56.12
-13.71
-19.63%
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HOV Services Limited Corporate Events
HGM Shareholders Clear US$14.7 Million in Key Related-Party Deals
Mar 20, 2026
HandsOn Global Management Limited has secured shareholder approval via an electronic postal ballot for two material related party transactions, reinforcing its ability to pursue strategic business arrangements with key affiliates. The resolutions,...
HGM appoints veteran executive Kesavan Nair Padmanabhan as independent director
Mar 7, 2026
HandsOn Global Management has appointed Mr. Kesavan Nair Padmanabhan as an Additional Director in the capacity of Non-Executive Independent Director, effective 7 March 2026 for a five-year term, pending shareholder approval through a postal ballot...
HGM Publishes Postal Ballot Notice Details for Remote E-Voting
Feb 19, 2026
HandsOn Global Management (HGM) Limited has notified the stock exchanges that it has published a newspaper notice detailing the dispatch of its Postal Ballot Notice to shareholders. The publication appeared on February 19, 2026, in the Financial E...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.