EOR Services

Delhi, India Founded: 2008 • Age: 18 yrs Listed
Offers EOR, recruitment, and staffing solutions for businesses in India.

About EOR Services

EOR Services is a publicly listed company based in Delhi (India) founded in 2008. It offers EOR, recruitment, and staffing solutions for businesses in India. It operates on a B2B model. The company has 17,637 employees. Its Indian entity Spectrum Talent Management Limited reported revenue of ₹1,454 Cr. EOR Services offers products and services including EOR Services, Remote Staffing, IT Staffing, and Recruitment Services. Its focus areas include HR and Recruitment, Talent Management, EOR Services and IT Services.

Company details

Spectrum Talent Management Limited delivers Employer of Record services, handling payroll, compliance, and HR for remote hiring across Indian states. They specialize in recruitment, IT staffing, and talent management without requiring local entity setup. With over 16 years of experience and multiple branch offices, they serve global clients by streamlining workforce operations and ensuring regulatory adherence in various regions.

Key Metrics
  • Market Cap
    ₹134 Cr

    SPECTSTM-SM · NSE

  • Share Price
    ₹58.00

    0.00% today

  • Revenue
    ₹1,450 Cr

    FY 2025-26 · +14.2% YoY

  • EBITDA
    ₹14.09 Cr

    Margin 1.0%

  • Net Profit
    ₹12.27 Cr

    FY 2025-26 · +85.9% YoY

  • P/E (TTM)
    10.6x

    P/B 0.8x

  • Employee Count
    17,637

Products & Services of EOR Services

EOR Services offers a comprehensive portfolio of products and services, including EOR Services, Remote Staffing, IT Staffing, and Recruitment Services.

EOR Services
HR Services

Manages employment and compliance for remote hiring in India

Remote Staffing
Staffing Services

Provides solutions for global remote workforce management

IT Staffing
IT Services

Offers recruitment of IT professionals for businesses

Recruitment Services
Talent Acquisition

Delivers tailored hiring solutions across industries

Apps and channels of EOR Services

its YouTube channel Spectrum Talent Management has 346 subscribers and 23 videos.

Spectrum Talent Management
YouTube 346 subscribers 23 videos Science & Technology
Open channel

Videos from EOR Services

The most watched videos on EOR Services's YouTube channel, Spectrum Talent Management (346 subscribers). Click a video to play it here.

FY22-23 Earnings Concall: Spectrum Talent Management Limited
1.9K views
15 Years of Spectacular Moments: Our Anniversary Celebration Video!
1.2K views
Christmas celebrations at Spectrum Talent Management
912 views
Celebrating our exceptional employees! - Spectrum Talent Management Ltd
779 views

More on Spectrum Talent Management.

Board of directors of Spectrum Talent Management Limited (EOR Services)

Spectrum Talent Management Limited is the primary company behind EOR Services. The board of Spectrum Talent Management Limited currently have 6 directors; the longest-serving is Sidharth Agarwal, appointed in 2012. 2 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Sidharth Agarwal
DIN 05213023
Whole-time director09 May 201214 yrs 5 moSpectrum Talent Management Limited
Vidur Gupta
DIN 05213073
Managing Director09 May 201214 yrs 5 moSpectrum Talent Management Limited
Rajeev Agarwal
DIN 00107401
Director22 Dec 20223 yrs 10 moSpectrum Talent Management Limited
Anup Kumar Jaiswal
DIN 09366466
Director04 Jan 20233 yrs 10 moSpectrum Talent Management Limited
Anubha Agarwal
DIN 09848960
Director04 Jan 20233 yrs 10 moSpectrum Talent Management Limited
Suresh Mehra
DIN 07680564
Director04 Jan 20233 yrs 10 moSpectrum Talent Management Limited

IPO & Listings of EOR Services

EOR Services is a publicly listed company on the NSE with ticker symbol SPECTSTM in India, operating in the Diversified sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • Listed onNSE: SPECTSTM
  • Listed entitySpectrum Talent Management Limited
  • Exchange sectorDiversified

Financials of EOR Services

Exchange-reported figures of Spectrum Talent Management Limited, the listed company behind EOR Services (NSE: SPECTSTM-SM).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹1,450 Cr
+14.2% YoY
EBITDA
₹14.09 Cr
+71.6% YoY
Profit After Tax
₹12.27 Cr
+85.9% YoY
Net Worth
₹172 Cr
+7.9% YoY
Total Assets
₹205 Cr
+4.2% YoY
Total Debt
₹30.40 Cr
-13.5% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,4501,2701,016768483302323
Revenue growth+14.2%+25.0%+32.3%+58.9%+59.8%-6.5%-
EBITDA14.098.219.3723.5815.914.988.92
EBITDA margin+1.0%+0.7%+0.9%+3.1%+3.3%+1.7%+2.8%
Profit before tax11.598.1810.0322.1915.164.548.35
Net profit12.276.6011.6327.7415.094.476.54
Net profit margin+0.9%+0.5%+1.1%+3.6%+3.1%+1.5%+2.0%
EPS (₹)4.983.135.0215.5340.1410.0314.23
Balance sheet
Total assets20519714960.5838.8920.9219.46
Net worth17216014755.8127.9019.7615.00
Total debt30.4035.140.873.7610.270.614.22
Cash & bank52.9636.0572.376.225.437.7511.04
Net working capital14617913349.8834.5513.4016.71
Cash flow
Cash from operations68.43(66.98)(4.81)9.15-5.425.58
Cash from investing(43.33)(8.35)(4.84)(1.18)-(4.95)0.22
Cash from financing(8.20)39.0175.79(7.17)-(3.75)(2.75)
ParticularsMar 2026Mar 2023Dec 2022
Revenue742184220
Other income2.110.64(0.23)
EBITDA8.392.0110.54
EBITDA margin+1.1%+1.1%+4.8%
Depreciation1.560.450.39
Interest1.960.180.23
Profit before tax6.982.029.69
Tax(1.52)(5.82)0.18
Net profit8.507.849.51
EPS (₹)3.450.000.00
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,4371,253999753476300323
Revenue growth+14.7%+25.5%+32.7%+58.1%+58.9%-7.3%-
EBITDA13.967.828.5122.4615.704.778.84
EBITDA margin+1.0%+0.6%+0.9%+3.0%+3.3%+1.6%+2.7%
Profit before tax11.517.839.2921.2115.024.328.40
Net profit12.196.2511.0426.9414.994.246.59
Net profit margin+0.9%+0.5%+1.1%+3.6%+3.2%+1.4%+2.0%
EPS (₹)4.962.984.7715.0939.859.5214.35
Balance sheet
Total assets20219514759.3738.5620.6519.42
Net worth17015714554.6427.6119.5014.97
Total debt30.4035.140.873.7610.270.614.22
Cash & bank49.3033.3569.133.633.416.6611.04
Net working capital14217612946.7932.3213.1916.68
Cash flow
Cash from operations67.52(67.00)(5.54)8.43(6.36)4.325.68
Cash from investing(43.37)(7.85)(4.76)(1.10)0.60(4.95)0.22
Cash from financing(8.20)39.0775.80(7.11)2.51(3.75)(2.86)
ParticularsMar 2026Dec 2025
Revenue737(2.15)
Other income0.002.15
Total expenses7260.00
EBITDA10.50(2.15)
EBITDA margin+1.4%-
Depreciation1.560.00
Interest1.960.00
Profit before tax6.980.00
Tax(1.52)0.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 08 Nov 2026
ParticularsMar 2026Mar 2023Dec 2022
Revenue742184220
Other income2.110.64(0.23)
EBITDA8.392.0110.54
EBITDA margin+1.1%+1.1%+4.8%
Depreciation1.560.450.39
Interest1.960.180.23
Profit before tax6.982.029.69
Tax(1.52)(5.82)0.18
Net profit8.507.849.51
EPS (₹)3.450.000.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,4501,2701,016768483302323
Revenue growth+14.2%+25.0%+32.3%+58.9%+59.8%-6.5%-
Other income3.803.252.460.770.250.570.31
Total expenses1,4361,2621,007744467297314
Employee cost0.00664579474358290308
EBITDA14.098.219.3723.5815.914.988.92
EBITDA margin+1.0%+0.7%+0.9%+3.1%+3.3%+1.7%+2.8%
Depreciation2.842.311.451.500.880.870.76
Interest3.460.970.350.660.120.140.12
Profit before tax11.598.1810.0322.1915.164.548.35
Tax(0.68)0.94(1.56)(5.64)(0.07)(0.22)1.59
Net profit12.276.6011.6327.7415.094.476.54
Net profit margin+0.9%+0.5%+1.1%+3.6%+3.1%+1.5%+2.0%
EPS (₹)4.983.135.0215.5340.1410.0314.23
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital23.0923.0923.0917.918.559.504.75
Reserves & surplus14313012437.9019.3510.2610.25
Shareholders' funds (net worth)17216014755.8127.9019.7615.00
Minority interest0.000.000.050.040.040.000.00
Secured loans30.4035.140.873.762.970.612.66
Unsecured loans0.000.000.000.007.300.001.56
Total debt30.4035.140.873.7610.270.614.22
Total liabilities20519714960.5838.8920.9219.46
Assets
Gross block52.8314.5711.397.365.543.763.42
Net block43.277.536.663.312.721.792.32
Capital work in progress6.111.420.000.000.000.000.00
Investments0.000.000.000.000.814.890.00
Inventories4.977.562.014.642.000.000.00
Sundry debtors12211978.5560.1540.8324.8820.20
Cash & bank balances52.9636.0572.376.225.437.7511.04
Loans & advances41.8069.9031.3214.3911.826.166.83
Total current assets22223218485.4060.0838.7938.07
Total current liabilities75.6352.8351.1035.5225.5325.3921.36
Net working capital14617913349.8834.5513.4016.71
Total assets20519714960.5838.8920.9219.46
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash36.0572.376.225.43-11.047.99
Net cash from operating activities68.43(66.98)(4.81)9.15-5.425.58
Net cash from investing activities(43.33)(8.35)(4.84)(1.18)-(4.95)0.22
Net cash from financing activities(8.20)39.0175.79(7.17)-(3.75)(2.75)
Net change in cash16.91(36.32)66.150.80-(3.29)3.04
Closing cash52.9636.0572.376.22-7.7511.04
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+14.2%+25.0%+32.3%+58.9%+59.8%-6.5%-
EBITDA growth+71.6%-12.4%-60.3%+48.2%+219.5%-44.2%-
PBT growth+41.7%-18.4%-54.8%+46.4%+233.9%-45.6%+9997.0%
Net income growth+85.9%-43.3%-58.1%+83.8%+237.6%-31.7%-
Revenue CAGR (3Y)+23.6%+38.0%+49.8%+33.4%---
EBITDA CAGR (3Y)-15.8%-19.8%+23.5%+38.3%---
Profitability & leverage
Net income margin+0.9%+0.6%+1.1%+3.6%+3.2%+1.6%+2.1%
Return on capital employed-+5.3%+9.9%+46.0%+51.2%+23.2%+43.6%
Return on net worth-+4.7%+11.5%+70.4%+79.9%+31.7%+45.1%
Debt / equity-0.120.020.170.230.140.28
Long-term debt / equity-0.000.000.010.010.030.04
Interest cover30.7616.444.422.990.803.411.47
Efficiency & per share
Fixed asset turnover-97.85108.39119.08103.9284.2394.54
Inventory turnover-265.44305.62231.34483.220.000.00
Debtors turnover-12.8814.6515.2114.7113.4216.01
EPS (₹)4.983.135.0215.5340.1410.0314.23
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)0.0066.4263.4831.1660.9231.6131.59
ParticularsMar 2026Dec 2025
Revenue737(2.15)
Other income0.002.15
Total expenses7260.00
EBITDA10.50(2.15)
EBITDA margin+1.4%-
Depreciation1.560.00
Interest1.960.00
Profit before tax6.980.00
Tax(1.52)0.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,4371,253999753476300323
Revenue growth+14.7%+25.5%+32.7%+58.1%+58.9%-7.3%-
Other income3.853.282.590.850.320.560.44
Total expenses1,4231,246990730461295314
Employee cost0.00651566462353288308
EBITDA13.967.828.5122.4615.704.778.84
EBITDA margin+1.0%+0.6%+0.9%+3.0%+3.3%+1.6%+2.7%
Depreciation2.842.311.461.500.880.870.76
Interest3.460.960.350.600.120.140.12
Profit before tax11.517.839.2921.2115.024.328.40
Tax(0.68)0.94(1.70)(5.82)(0.12)(0.21)1.59
Net profit12.196.2511.0426.9414.994.246.59
Net profit margin+0.9%+0.5%+1.1%+3.6%+3.2%+1.4%+2.0%
EPS (₹)4.962.984.7715.0939.859.5214.35
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital23.0923.0923.0917.918.559.504.75
Reserves & surplus14012812236.7319.0610.0010.22
Shareholders' funds (net worth)17015714554.6427.6119.5014.97
Secured loans30.4035.140.873.762.970.612.36
Unsecured loans0.000.000.000.007.300.001.86
Total debt30.4035.140.873.7610.270.614.22
Total liabilities20219514759.3738.5620.6519.42
Assets
Gross block52.8314.5711.397.365.543.763.42
Net block43.277.536.663.312.721.792.32
Capital work in progress6.111.420.000.000.000.000.00
Investments1.571.471.941.892.704.930.00
Inventories4.977.562.014.642.000.000.00
Sundry debtors12011675.8856.5739.1924.2320.20
Cash & bank balances49.3033.3569.133.633.416.6611.04
Loans & advances42.5670.5331.8815.1812.556.946.83
Total current assets21622817980.0257.1537.8338.07
Total current liabilities73.9351.9849.6033.2324.8324.6421.39
Net working capital14217612946.7932.3213.1916.68
Total assets20219514759.3738.5620.6519.42
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash33.3569.133.633.416.6611.047.99
Net cash from operating activities67.52(67.00)(5.54)8.43(6.36)4.325.68
Net cash from investing activities(43.37)(7.85)(4.76)(1.10)0.60(4.95)0.22
Net cash from financing activities(8.20)39.0775.80(7.11)2.51(3.75)(2.86)
Net change in cash15.95(35.78)65.500.22(3.25)(4.37)3.04
Closing cash49.3033.3569.133.633.416.6611.04
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+14.7%+25.5%+32.7%+58.1%+58.9%-7.3%-
EBITDA growth+78.5%-8.1%-62.1%+43.1%+229.1%-46.0%-
PBT growth+47.0%-15.7%-56.2%+41.2%+247.7%-48.6%+9997.0%
Net income growth+95.0%-43.4%-59.0%+79.7%+253.5%-35.7%-
Revenue CAGR (3Y)+24.1%+38.1%+49.4%+32.6%---
EBITDA CAGR (3Y)-14.7%-20.7%+21.3%+36.5%---
Profitability & leverage
Net income margin+0.9%+0.6%+1.1%+3.6%+3.2%+1.5%+2.1%
Return on capital employed-+5.2%+9.4%+44.5%+51.1%+22.2%+43.9%
Return on net worth-+4.6%+11.1%+69.7%+80.5%+30.4%+45.6%
Debt / equity-0.120.020.170.230.140.28
Long-term debt / equity-0.000.000.010.010.030.04
Interest cover31.1217.424.962.860.813.591.49
Efficiency & per share
Fixed asset turnover-96.56106.56116.71102.4283.5094.51
Inventory turnover-261.94300.45226.74476.240.000.00
Debtors turnover-13.0415.0815.7215.0213.4916.00
EPS (₹)4.962.984.7715.0939.859.5214.35
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)0.0065.4962.6530.5160.1731.0531.52

Top companies in Human Resource & Staffing Services

2 companies that operate in the same segment as EOR Services (Human Resource & Staffing Services) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Staffing and recruiting services connect employers with job candidates.
2000Bengaluru, Karnataka, IndiaUSD 28.39 MUSD 1.26 B2,470
HR management, recruitment, and staffing services are provided.
2015Bengaluru, Karnataka, IndiaUSD 15.95 M
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Frequently Asked Questions about EOR Services

EOR Services was founded in 2008.

EOR Services is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.

EOR Services has 17,637 employees.

The primary company behind EOR Services, Spectrum Talent Management Limited, reported revenue of ₹1,454 Cr for FY 2026, up 14% year on year.

Spectrum Talent Management Limited delivers Employer of Record services, handling payroll, compliance, and HR for remote hiring across Indian states. They specialize in recruitment, IT staffing, and talent management without requiring local entity setup. With over 16 years of experience and multiple branch offices, they serve global clients by streamlining workforce operations and ensuring regulatory adherence in various regions.

EOR Services offers EOR Services, Remote Staffing, IT Staffing, and Recruitment Services.

Yes, EOR Services is publicly traded on NSE under the ticker symbol SPECTSTM.

EOR Services operates through Spectrum Talent Management Limited.

The legal entities of EOR Services currently have 8 directors, including Sidharth Agarwal, Vidur Gupta, Rajeev Agarwal and others.

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