About White Force
White Force is a publicly listed company based in Delhi (India) founded in 2019. AI consulting, staffing, and recruitment services are provided. The company has 80 employees. Its Indian entity Happy Square Outsourcing Services Limited reported revenue of ₹110 Cr. Its focus areas include HR Services and Recruitment Services. Similar companies include TeamLease, Able Jobs and Randstad India; 2 of its 3 listed similar companies have raised funding.
Company details
White Force was established in 2019 and is headquartered in Delhi, India. Operations focus on the technology sector, where AI consulting services are delivered alongside staffing and recruitment solutions. Expertise is applied to match talent with organizational needs in AI-driven projects. The companys domain, white-force.com, supports these activities across various industries requiring specialized personnel. Services are tailored to client requirements in the Indian market.
- Market Cap₹41.30 Cr
WHITEFORCE-SM · NSE
- Share Price₹35.60
0.00% today
- Revenue₹109 Cr
FY 2025-26 · +12.1% YoY
- EBITDA₹6.94 Cr
Margin 6.4%
- Net Profit₹6.21 Cr
FY 2025-26 · +4.2% YoY
- P/E (TTM)6.7x
P/B 1.0x
- ROE21.9%
ROCE 17.8%
- Debt / Equity0.40
Interest cover 15.4x
- Employee Count80
Associated legal entities of White Force
White Force is associated with 2 registered companies on The Company Check; the primary company is Happy Square Outsourcing Services Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Happy Square Outsourcing Services Limited Listed CIN L80904MP2017PLC043153 | Active | 20 Apr 2017 | Jabalpur, Madhya Pradesh | ₹110 Cr | 2,062 | 7 | View details |
| White Force Outsourcing Services Private Limited CIN U74999DL2019PTC357697 | Active | 19 Nov 2019 | New Delhi, Delhi | ₹1.7 Cr | 80 | 2 | View details |
Apps and channels of White Force
its YouTube channel white force has 1.17K subscribers and 18 videos.
Videos from White Force
The most watched videos on White Force's YouTube channel, white force (1.17K subscribers). Click a video to play it here.
More on white force.
Board of directors of Happy Square Outsourcing Services Limited (White Force)
Happy Square Outsourcing Services Limited is the primary company behind White Force. The boards of the 2 registered companies of White Force currently have 8 directors; the longest-serving is Shishir Rajpal, appointed in 2020. 14 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Shishir Rajpal DIN 08693496 | Director | 08 Feb 2020 | 6 yrs 8 mo | White Force Outsourcing Services Private Limited |
| Rani Mathya DIN 10604021 | Director | 29 May 2024 | 2 yrs 4 mo | Happy Square Outsourcing Services Limited |
| Gurpreet Kaur Dhanjal DIN 10571541 | Director | 26 Jun 2024 | 2 yrs 3 mo | Happy Square Outsourcing Services Limited |
| Prasanna Kumar Pavithra DIN 08956506 | Director | 13 Sep 2024 | 2 yrs 1 mo | Happy Square Outsourcing Services Limited |
| Poonam Rajpal DIN 08693498 | Managing Director | 27 Dec 2024 | 1 yr 9 mo | Happy Square Outsourcing Services Limited |
| Deepika Ondela DIN 10885553 | Whole-time director | 27 Dec 2024 | 1 yr 9 mo | Happy Square Outsourcing Services Limited |
| Rupali Kesharwani DIN 11111377 | Director | 29 May 2025 | 1 yr 4 mo | Happy Square Outsourcing Services Limited |
| Nalini Rajpal DIN 08662132 | Additional Director | 17 Dec 2025 | 10 mo | White Force Outsourcing Services Private Limited |
People of White Force
11 people are tracked at White Force (1 in leadership, 10 in team); the tracked headcount is 80.
| Name | Role | Group |
|---|---|---|
Shaailesh Rajpal | Chief Executive Officer | Leadership |
Shivani Dahiya | Human Resources Executive | Team |
Mohit Yadav | Assistant Manager | Team |
Deepali Pathak | Assistant Manager Human Resources | Team |
Anup Karmakar | Asst Manager-talent Acquisition | Team |
Anupriya Dubey | Talent Acquisition Manager | Team |
Ashish Sharma | Assistant Manager - Talent Acquisition | Team |
Rahul Kanojiya | Talent Acquisition Manager At White Force | Team |
Kajal Patel | HR Recruiter | Team |
Juhi Agrawal | Talent Acquisition Manager | Team |
Deepika Sengar | Senior Human Resources Manager | Team |
Complete people profiles for White Force
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IPO & Listings of White Force
White Force is a publicly listed company on the NSE with ticker symbol WHITEFORCE in India, operating in the Commercial services 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.
- IPO date10 Jul 2025
- Listed onNSE: WHITEFORCE
- Listed entityHappy Square Outsourcing Services Limited
- Exchange sectorCommercial services
- ISININE0TLP01015
- Share price₹34.50 · 2026-10-14
- Market capitalisation₹40.0 Cr
- Volume (last session)1,600
Financials of White Force
Exchange-reported figures of Happy Square Outsourcing Services Limited, the listed company behind White Force (NSE: WHITEFORCE-SM).
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | 109 | 97.41 | 69.29 | 52.70 | 28.23 |
| Revenue growth | +12.1% | +40.6% | +31.5% | +86.7% | - |
| EBITDA | 6.94 | 9.32 | 6.45 | 2.83 | 0.46 |
| EBITDA margin | +6.4% | +9.6% | +9.3% | +5.4% | +1.6% |
| Profit before tax | 5.95 | 7.99 | 5.86 | 2.37 | 0.33 |
| Net profit | 6.21 | 5.96 | 4.40 | 1.77 | 0.25 |
| Net profit margin | +5.7% | +6.1% | +6.4% | +3.4% | +0.9% |
| EPS (₹) | 5.16 | 7.07 | 4,393.20 | 1,787.80 | 245.90 |
| Balance sheet | |||||
| Total assets | 49.71 | 27.29 | 17.72 | 8.80 | 4.26 |
| Net worth | 42.08 | 12.48 | 6.57 | 2.14 | 0.35 |
| Total debt | 7.36 | 14.59 | 10.99 | 6.57 | 3.85 |
| Cash & bank | 1.40 | 0.65 | 0.22 | 0.23 | 0.49 |
| Net working capital | 39.48 | 22.75 | 13.23 | 6.22 | 2.79 |
| Cash flow | |||||
| Cash from operations | (13.94) | (1.64) | (1.88) | (1.43) | (0.04) |
| Cash from investing | (0.75) | (0.39) | (1.88) | (1.16) | (1.22) |
| Cash from financing | 15.44 | 2.46 | 3.75 | 2.32 | 0.89 |
Financial Statements
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Revenue | 109 | 97.41 | 69.29 | 52.70 | 28.23 |
| Revenue growth | +12.1% | +40.6% | +31.5% | +86.7% | - |
| Other income | 0.72 | 0.27 | 0.25 | 0.10 | 0.02 |
| Total expenses | 102 | 88.09 | 62.84 | 49.87 | 27.77 |
| Employee cost | 2.02 | 1.52 | 1.00 | 1.34 | 0.30 |
| EBITDA | 6.94 | 9.32 | 6.45 | 2.83 | 0.46 |
| EBITDA margin | +6.4% | +9.6% | +9.3% | +5.4% | +1.6% |
| Depreciation | 0.76 | 0.45 | 0.18 | 0.16 | 0.10 |
| Interest | 0.95 | 1.15 | 0.66 | 0.40 | 0.05 |
| Profit before tax | 5.95 | 7.99 | 5.86 | 2.37 | 0.33 |
| Tax | (0.05) | 2.03 | 1.46 | 0.60 | 0.08 |
| Net profit | 6.21 | 5.96 | 4.40 | 1.77 | 0.25 |
| Net profit margin | +5.7% | +6.1% | +6.4% | +3.4% | +0.9% |
| EPS (₹) | 5.16 | 7.07 | 4,393.20 | 1,787.80 | 245.90 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Equity & liabilities | |||||
| Share capital | 11.60 | 8.41 | 0.01 | 0.01 | 0.01 |
| Reserves & surplus | 30.48 | 4.07 | 6.56 | 2.13 | 0.34 |
| Shareholders' funds (net worth) | 42.08 | 12.48 | 6.57 | 2.14 | 0.35 |
| Secured loans | 5.46 | 11.48 | 7.90 | 3.90 | 0.88 |
| Unsecured loans | 1.90 | 3.11 | 3.09 | 2.67 | 2.97 |
| Total debt | 7.36 | 14.59 | 10.99 | 6.57 | 3.85 |
| Total liabilities | 49.71 | 27.29 | 17.72 | 8.80 | 4.26 |
| Assets | |||||
| Gross block | 5.32 | 4.09 | 2.62 | 0.73 | 0.53 |
| Net block | 3.62 | 3.15 | 2.14 | 0.43 | 0.39 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 5.42 | 0.03 | 0.01 | 0.00 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 42.48 | 22.86 | 15.17 | 7.62 | 6.01 |
| Cash & bank balances | 1.40 | 0.65 | 0.22 | 0.23 | 0.49 |
| Loans & advances | 7.14 | 11.59 | 8.54 | 3.89 | 0.70 |
| Total current assets | 51.02 | 35.10 | 23.93 | 11.74 | 7.20 |
| Total current liabilities | 11.54 | 12.35 | 10.70 | 5.52 | 4.41 |
| Net working capital | 39.48 | 22.75 | 13.23 | 6.22 | 2.79 |
| Total assets | 49.71 | 27.29 | 17.72 | 8.80 | 4.26 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Opening cash | 0.65 | 0.22 | 0.23 | 0.49 | 0.87 |
| Net cash from operating activities | (13.94) | (1.64) | (1.88) | (1.43) | (0.04) |
| Net cash from investing activities | (0.75) | (0.39) | (1.88) | (1.16) | (1.22) |
| Net cash from financing activities | 15.44 | 2.46 | 3.75 | 2.32 | 0.89 |
| Net change in cash | 0.75 | 0.43 | 0.00 | (0.27) | (0.37) |
| Closing cash | 1.40 | 0.65 | 0.22 | 0.23 | 0.49 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Growth | |||||
| Sales growth | +12.1% | +40.6% | +31.5% | +86.7% | - |
| EBITDA growth | -25.5% | +44.5% | +127.9% | +515.2% | - |
| PBT growth | -25.5% | +36.4% | +147.3% | +618.2% | +9997.0% |
| Net income growth | +4.2% | +35.5% | +148.6% | +608.0% | - |
| Revenue CAGR (3Y) | +27.5% | +51.1% | - | - | - |
| EBITDA CAGR (3Y) | +34.9% | +172.6% | - | - | - |
| Profitability & leverage | |||||
| Net income margin | +5.5% | +6.1% | +6.4% | +3.4% | +0.9% |
| Return on capital employed | +17.8% | +40.5% | +49.2% | +42.8% | +8.9% |
| Return on net worth | +21.9% | +62.4% | +100.8% | +143.8% | +71.4% |
| Debt / equity | 0.40 | 1.34 | 2.01 | 4.18 | 11.00 |
| Long-term debt / equity | 0.09 | 0.29 | 0.61 | 2.26 | 8.49 |
| Interest cover | 15.37 | 12.97 | 10.53 | 14.98 | 13.89 |
| Efficiency & per share | |||||
| Fixed asset turnover | 23.20 | 29.03 | 41.37 | 83.65 | 53.26 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 3.34 | 5.12 | 6.08 | 7.73 | 4.70 |
| EPS (₹) | 5.16 | 7.07 | 4,393.20 | 1,787.80 | 245.90 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 36.28 | 14.84 | 6,574.70 | 2,140.00 | 352.20 |
Similar companies to White Force
White Force has 3 listed similar companies in our database, 2 of them funded. They include TeamLease, Able Jobs and Randstad India.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| teamlease.com | 2000 | Bengaluru, India | $28.39M | 1,112 | Staffing and recruiting services connect employers with job candidates. | |
| ablejobs.co | 2019 | Bengaluru, India | $2.36M | 6 | Online candidate assistance is provided through tools and training platforms. | |
| randstad.in | 2005 | Chennai, India | 65,462 | Recruitment process outsourcing services are provided to clients. |
Detailed similar companies of White Force
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Web traffic of White Force
The website of White Force (white-force.com) receives about 8.6K visits a month.
- Monthly visits8.6K
▲ 12.1% vs previous month
Top companies in Human Resource & Staffing Services
2 companies that operate in the same segment as White Force (Human Resource & Staffing Services) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Staffing and recruiting services connect employers with job candidates. | 2000 | Bengaluru, Karnataka, India | USD 28.39 M | USD 1.26 B | 2,470 | |
HR management, recruitment, and staffing services are provided. | 2015 | Bengaluru, Karnataka, India | USD 15.95 M |
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Frequently Asked Questions about White Force
White Force was founded in 2019.
White Force is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
White Force has 80 employees.
The primary company behind White Force, Happy Square Outsourcing Services Limited, reported revenue of ₹110 Cr for FY 2026, up 12% year on year.
White Force was established in 2019 and is headquartered in Delhi, India. Operations focus on the technology sector, where AI consulting services are delivered alongside staffing and recruitment solutions. Expertise is applied to match talent with organizational needs in AI-driven projects. The companys domain, white-force.com, supports these activities across various industries requiring specialized personnel. Services are tailored to client requirements in the Indian market.
White Force's top competitors include TeamLease, Able Jobs and Randstad India.
Yes, White Force is publicly traded on NSE under the ticker symbol WHITEFORCE.
White Force is associated with 2 legal entities: Happy Square Outsourcing Services Limited, White Force Outsourcing Services Private Limited.
The legal entities of White Force currently have 9 directors, including Nalini Rajpal, Shishir Rajpal, Prasanna Kumar Pavithra and others.