MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-18-0018181
Market Cap
₹194 Cr
IPSL-SM · NSE
Share Price
₹190.05
0.00% today
Revenue
₹401 Cr
FY 2025-26 · +26.7% YoY
EBITDA
₹16.97 Cr
Margin 4.2%
Net Profit
₹10.97 Cr
FY 2025-26 · +55.2% YoY
P/E (TTM)
18.6x
P/B 2.5x
Authorised capital
₹11 Cr
Registered with MCA
Paid-up capital
₹10.21 Cr
Issued & subscribed
About Integrated Personnel Services Limited
Data last updated:
Integrated Personnel Services Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the HR outsourcing and talent management segment of the business process outsourcing sector. It was incorporated on 22 January 2004 and has been in existence for over 22 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L74190MH2004PLC144160. Its GSTIN is 27AABCI1962K1ZF (Maharashtra). The company holds 7 GST registrations, all of them active. It is a listed company as per MCA records. Its shares are listed on NSE: IPSL.
The company has an authorised share capital of ₹11 Cr and a paid-up capital of ₹10.21 Cr. It was formerly known as Integrated Personnel Services Private Limited. It is led by directors including Tarang Raghuvir Goyal (Managing Director) and Sandeep Kaur Goyal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 14 Whispering Palm Shopping Center Lokhandwala Complex Kandivali (East), Mumbai, Maharashtra, India – 400101.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹400.8 Cr, a growth of 26.7% compared to the previous year. For the same year it recorded a net profit of ₹10.97 Cr (net margin 2.7%) and EBITDA of ₹16.97 Cr (EBITDA margin 4.2%). The net worth stands at ₹67.11 Cr (up 19% YoY). Total assets are valued at ₹119.2 Cr (up 30.7% YoY).
The company has about 6,292 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: Integrated Personnel Services. As per MCA filings, the company has open charges of ₹71.94 Cr and satisfied charges of ₹11.69 Cr on record. Court records list 10 cases involving the company, including 5 filed by the company and 5 filed against it; 6 cases are pending. The company has 8 deals on record (5 funding rounds, 2 secondary share transfers, 1 ipo), with disclosed funding of ₹1.48 Cr; the latest was in November 2022. Its 4 peer companies in the Outsourcing industry (HR Outsourcing), with the same principal business activity (placement agencies and hr management services) are compared by revenue, 3 larger and 1 smaller; the largest is SHL (India) Private Limited with revenue of ₹338.27 Cr. The company has 8 MSME Form 1 returns on record between 2019 and 2023, listing 82 overdue payments to 10 micro and small suppliers.
Integrated Personnel Services Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-18-0018181). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website integratedpersonnelservices.com.
Company details
CIN L74190MH2004PLC144160
Registration Number 144160
Incorporation Date 22 January 2004
ROC Mumbai
Listing Status Listed (NSE: IPSL)
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-18-0018181
CIN history
Integrated Personnel Services has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L74190MH2004PLC144160, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L74190MH2004PLC144160 | Current |
| U74190MH2004PLC144160 | Previous |
| U74190MH2004PTC144160 | Previous |
Key People
Tarang Raghuvir Goyal Managing Director Sandeep Kaur Goyal Whole-Time Director Ashok Nagori Director Recognitions & Rankings of Integrated Personnel Services
Contact details
Integrated Personnel Services Limited's registered office is in Mumbai, Maharashtra. Its website is integratedpersonnelservices.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Social Media
- Registered Address14 Whispering Palm Shopping Center Lokhandwala Complex Kandivali (East), Mumbai, Maharashtra, India – 400101
- IndustryBusiness Outsourcing, HR Outsourcing & Talent Management
To see the full contact details of Integrated Personnel Services Limited, buy the company report.
Comprehensive company report
Integrated Personnel Services Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Secure checkout · GST invoice included
Brands
Integrated Personnel Services operates one associated brand: Integrated Personnel Services. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| International manpower recruitment, HR outsourcing, and contractual services are provided. | ipsgroup.co.in |
Business activity
The main business activity of Integrated Personnel Services is support service to organizations. In detail, this covers placement agencies and hr management services.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| N | Support service to Organizations | N2 | Placement agencies and HR management services |
To see the full business activity and turnover split of Integrated Personnel Services Limited, buy the company report.
Financials of Integrated Personnel Services Limited
FY 2025-26 filings availableIntegrated Personnel Services Limited reported revenue of ₹400.8 Cr (up 26.7% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹401 Cr
+26.7% YoY
EBITDA
₹16.97 Cr
+27.4% YoY
Profit After Tax
₹10.97 Cr
+55.2% YoY
Net Worth
₹67.11 Cr
+19.0% YoY
Total Assets
₹119 Cr
+30.7% YoY
Total Debt
₹51.76 Cr
+49.6% YoY
Revenue 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 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 401 | 316 | 246 | 198 | 170 | 138 | 169 |
| Revenue growth | +26.7% | +28.8% | +24.3% | +16.5% | +22.5% | -18.1% | - |
| EBITDA | 16.97 | 13.32 | 11.22 | 9.62 | 6.74 | 5.24 | 5.72 |
| EBITDA margin | +4.2% | +4.2% | +4.6% | +4.9% | +4.0% | +3.8% | +3.4% |
| Profit before tax | 11.56 | 6.75 | 5.49 | 4.87 | 3.79 | 2.14 | 3.23 |
| Net profit | 10.97 | 7.07 | 5.37 | 4.55 | 3.60 | 1.91 | 3.11 |
| Net profit margin | +2.7% | +2.2% | +2.2% | +2.3% | +2.1% | +1.4% | +1.8% |
| EPS (₹) | 12.41 | 8.22 | 7.45 | 6.28 | 7.15 | 3.78 | 6.16 |
| Balance sheet | |||||||
| Total assets | 119 | 91.22 | 72.25 | 59.33 | 45.74 | 38.10 | 35.19 |
| Net worth | 67.11 | 56.39 | 40.82 | 32.40 | 17.18 | 13.17 | 11.26 |
| Total debt | 51.76 | 34.59 | 31.14 | 26.77 | 28.46 | 24.87 | 23.87 |
| Cash & bank | 11.33 | 5.00 | 3.98 | 6.16 | 1.92 | 1.39 | 2.94 |
| Net working capital | 102 | 76.45 | 56.19 | 48.67 | 31.56 | 26.89 | 23.86 |
| Cash flow | |||||||
| Cash from operations | (5.14) | (5.63) | (1.90) | 0.68 | 0.49 | 0.72 | (1.97) |
| Cash from investing | (0.44) | (0.97) | (3.35) | (3.25) | (1.10) | (1.03) | (1.26) |
| Cash from financing | 11.91 | 7.62 | 3.06 | 5.45 | 0.63 | (2.00) | 4.21 |
| Particulars | Sep 2024 | Sep 2023 | Sep 2022 | Jun 2022 |
|---|---|---|---|---|
| Revenue | 96.70 | 65.65 | 47.26 | 45.12 |
| Revenue growth (YoY) | +47.3% | +38.9% | - | - |
| Other income | 0.16 | 0.12 | 0.04 | 0.01 |
| EBITDA | 3.79 | 2.85 | 1.92 | 1.68 |
| EBITDA margin | +3.9% | +4.3% | +4.1% | +3.7% |
| Depreciation | 0.60 | 0.23 | 0.08 | 0.07 |
| Interest | 1.39 | 1.07 | 1.01 | 0.79 |
| Profit before tax | 1.96 | 1.67 | 0.87 | 0.83 |
| Tax | 0.00 | 0.07 | (0.01) | 0.00 |
| Net profit | 1.96 | 1.60 | 0.88 | 0.83 |
| EPS (₹) | 0.00 | 0.00 | 0.00 | 1.65 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 341 | 263 | 206 | 169 | 143 | 119 | 148 |
| Revenue growth | +29.6% | +27.7% | +21.9% | +18.2% | +20.1% | -19.6% | - |
| EBITDA | 12.44 | 9.41 | 7.91 | 7.29 | 5.20 | 4.03 | 4.48 |
| EBITDA margin | +3.7% | +3.6% | +3.8% | +4.3% | +3.6% | +3.4% | +3.0% |
| Profit before tax | 9.68 | 4.95 | 4.02 | 3.59 | 2.95 | 1.58 | 2.85 |
| Net profit | 8.95 | 4.91 | 3.92 | 3.34 | 2.76 | 1.54 | 2.93 |
| Net profit margin | +2.6% | +1.9% | +1.9% | +2.0% | +1.9% | +1.3% | +2.0% |
| EPS (₹) | 10.39 | 5.71 | 5.43 | 4.65 | 5.45 | 3.06 | 5.82 |
| Balance sheet | |||||||
| Total assets | 100 | 76.89 | 59.96 | 50.13 | 38.55 | 32.19 | 29.40 |
| Net worth | 57.36 | 48.51 | 35.09 | 28.13 | 14.07 | 11.32 | 9.78 |
| Total debt | 42.63 | 28.18 | 24.60 | 21.84 | 24.38 | 20.81 | 19.62 |
| Cash & bank | 9.69 | 4.79 | 3.97 | 6.16 | 1.92 | 1.38 | 2.30 |
| Net working capital | 84.46 | 64.63 | 45.98 | 40.18 | 25.92 | 21.25 | 23.29 |
| Cash flow | |||||||
| Cash from operations | 1.08 | 0.16 | (1.34) | 0.33 | (0.44) | 0.50 | (2.90) |
| Cash from investing | (6.51) | (8.29) | (3.54) | (2.96) | (0.81) | (0.28) | (0.32) |
| Cash from financing | 10.33 | 8.95 | 2.69 | 5.51 | 1.60 | (1.17) | 4.74 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 30 Oct 2026
| Particulars | Sep 2024 | Sep 2023 | Sep 2022 | Jun 2022 |
|---|---|---|---|---|
| Revenue | 96.70 | 65.65 | 47.26 | 45.12 |
| Revenue growth (YoY) | +47.3% | +38.9% | - | - |
| Other income | 0.16 | 0.12 | 0.04 | 0.01 |
| EBITDA | 3.79 | 2.85 | 1.92 | 1.68 |
| EBITDA margin | +3.9% | +4.3% | +4.1% | +3.7% |
| Depreciation | 0.60 | 0.23 | 0.08 | 0.07 |
| Interest | 1.39 | 1.07 | 1.01 | 0.79 |
| Profit before tax | 1.96 | 1.67 | 0.87 | 0.83 |
| Tax | 0.00 | 0.07 | (0.01) | 0.00 |
| Net profit | 1.96 | 1.60 | 0.88 | 0.83 |
| EPS (₹) | 0.00 | 0.00 | 0.00 | 1.65 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 401 | 316 | 246 | 198 | 170 | 138 | 169 |
| Revenue growth | +26.7% | +28.8% | +24.3% | +16.5% | +22.5% | -18.1% | - |
| Other income | 1.15 | 0.59 | 0.61 | 0.50 | 0.41 | 0.25 | 0.27 |
| Total expenses | 384 | 303 | 234 | 188 | 163 | 133 | 163 |
| Employee cost | 0.00 | 9.57 | 9.03 | 7.61 | 5.81 | 4.55 | 24.11 |
| EBITDA | 16.97 | 13.32 | 11.22 | 9.62 | 6.74 | 5.24 | 5.72 |
| EBITDA margin | +4.2% | +4.2% | +4.6% | +4.9% | +4.0% | +3.8% | +3.4% |
| Depreciation | 1.39 | 1.61 | 0.99 | 0.37 | 0.22 | 0.29 | 0.25 |
| Interest | 5.17 | 5.55 | 5.35 | 4.88 | 3.14 | 3.06 | 2.51 |
| Profit before tax | 11.56 | 6.75 | 5.49 | 4.87 | 3.79 | 2.14 | 3.23 |
| Tax | 0.87 | 0.08 | 0.11 | 0.32 | 0.19 | 0.23 | 0.12 |
| Net profit | 10.97 | 7.07 | 5.37 | 4.55 | 3.60 | 1.91 | 3.11 |
| Net profit margin | +2.7% | +2.2% | +2.2% | +2.3% | +2.1% | +1.4% | +1.8% |
| EPS (₹) | 12.41 | 8.22 | 7.45 | 6.28 | 7.15 | 3.78 | 6.16 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 8.61 | 8.61 | 7.21 | 7.21 | 5.05 | 5.05 | 5.05 |
| Reserves & surplus | 58.50 | 47.78 | 30.57 | 25.19 | 12.13 | 8.12 | 6.21 |
| Shareholders' funds (net worth) | 67.11 | 56.39 | 40.82 | 32.40 | 17.18 | 13.17 | 11.26 |
| Minority interest | 0.13 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 49.64 | 32.31 | 30.79 | 18.74 | 19.45 | 14.03 | 13.75 |
| Unsecured loans | 2.12 | 2.28 | 0.35 | 8.03 | 9.01 | 10.84 | 10.12 |
| Total debt | 51.76 | 34.59 | 31.14 | 26.77 | 28.46 | 24.87 | 23.87 |
| Total liabilities | 119 | 91.22 | 72.25 | 59.33 | 45.74 | 38.10 | 35.19 |
| Assets | |||||||
| Gross block | 17.49 | 15.60 | 15.31 | 10.59 | 5.74 | 5.63 | 5.44 |
| Net block | 10.51 | 10.01 | 10.86 | 7.59 | 3.11 | 3.23 | 3.32 |
| Capital work in progress | 0.00 | 0.76 | 0.42 | 0.85 | 3.80 | 3.33 | 3.25 |
| Investments | 0.95 | 0.52 | 0.11 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 102 | 75.25 | 59.23 | 44.21 | 33.31 | 29.26 | 29.04 |
| Cash & bank balances | 11.33 | 5.00 | 3.98 | 6.16 | 1.92 | 1.39 | 2.94 |
| Loans & advances | 15.22 | 10.34 | 4.25 | 5.41 | 3.62 | 4.84 | 2.16 |
| Total current assets | 129 | 90.59 | 67.46 | 55.78 | 38.85 | 35.49 | 34.14 |
| Total current liabilities | 27.17 | 14.14 | 11.27 | 7.11 | 7.29 | 8.60 | 10.28 |
| Net working capital | 102 | 76.45 | 56.19 | 48.67 | 31.56 | 26.89 | 23.86 |
| Total assets | 119 | 91.22 | 72.25 | 59.33 | 45.74 | 38.10 | 35.19 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 5.00 | 3.98 | 6.16 | 0.65 | 0.63 | 2.94 | 1.22 |
| Net cash from operating activities | (5.14) | (5.63) | (1.90) | 0.68 | 0.49 | 0.72 | (1.97) |
| Net cash from investing activities | (0.44) | (0.97) | (3.35) | (3.25) | (1.10) | (1.03) | (1.26) |
| Net cash from financing activities | 11.91 | 7.62 | 3.06 | 5.45 | 0.63 | (2.00) | 4.21 |
| Net change in cash | 6.33 | 1.03 | (2.18) | 2.88 | 0.02 | (2.31) | 0.98 |
| Closing cash | 11.33 | 5.00 | 3.98 | 6.16 | 1.92 | 1.39 | 2.94 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +26.7% | +28.8% | +24.3% | +16.5% | +22.5% | -18.1% | - |
| EBITDA growth | +27.4% | +18.7% | +16.6% | +42.7% | +28.6% | -8.4% | - |
| PBT growth | +71.3% | +23.0% | +12.7% | +28.5% | +77.1% | -33.8% | +9997.0% |
| Net income growth | +55.2% | +31.7% | +18.0% | +26.4% | +88.5% | -38.6% | - |
| Revenue CAGR (3Y) | +26.6% | +23.1% | +21.1% | +5.3% | - | - | - |
| EBITDA CAGR (3Y) | +20.8% | +25.5% | +28.9% | +18.9% | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | +2.7% | +2.1% | +2.2% | +2.3% | +2.1% | +1.4% | +1.8% |
| Return on capital employed | - | +15.1% | +16.5% | +18.5% | +16.6% | +14.2% | +16.3% |
| Return on net worth | - | +13.7% | +14.7% | +18.3% | +23.8% | +15.6% | +27.6% |
| Debt / equity | - | 0.68 | 0.79 | 1.11 | 1.76 | 2.00 | 2.12 |
| Long-term debt / equity | - | 0.09 | 0.18 | 0.36 | 0.53 | 0.56 | 0.55 |
| Interest cover | 33.18 | 47.40 | 52.30 | 52.76 | 48.16 | 61.82 | 45.89 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 24.98 | 18.96 | 24.19 | 29.82 | 25.00 | 31.07 |
| Inventory turnover | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | - | 4.70 | 4.75 | 5.10 | 5.42 | 4.75 | 5.82 |
| EPS (₹) | 12.41 | 8.22 | 7.45 | 6.28 | 7.15 | 3.78 | 6.16 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 65.51 | 52.41 | 44.96 | 34.03 | 26.09 | 22.31 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 341 | 263 | 206 | 169 | 143 | 119 | 148 |
| Revenue growth | +29.6% | +27.7% | +21.9% | +18.2% | +20.1% | -19.6% | - |
| Other income | 2.24 | 1.02 | 0.54 | 0.48 | 0.38 | 0.17 | 0.18 |
| Total expenses | 328 | 253 | 198 | 161 | 138 | 115 | 143 |
| Employee cost | 0.00 | 7.13 | 6.70 | 5.11 | 4.47 | 3.65 | 4.82 |
| EBITDA | 12.44 | 9.41 | 7.91 | 7.29 | 5.20 | 4.03 | 4.48 |
| EBITDA margin | +3.7% | +3.6% | +3.8% | +4.3% | +3.6% | +3.4% | +3.0% |
| Depreciation | 0.97 | 1.23 | 0.77 | 0.21 | 0.15 | 0.20 | 0.19 |
| Interest | 4.03 | 4.25 | 3.66 | 3.97 | 2.48 | 2.42 | 1.62 |
| Profit before tax | 9.68 | 4.95 | 4.02 | 3.59 | 2.95 | 1.58 | 2.85 |
| Tax | 0.73 | 0.04 | 0.10 | 0.25 | 0.19 | 0.04 | (0.08) |
| Net profit | 8.95 | 4.91 | 3.92 | 3.34 | 2.76 | 1.54 | 2.93 |
| Net profit margin | +2.6% | +1.9% | +1.9% | +2.0% | +1.9% | +1.3% | +2.0% |
| EPS (₹) | 10.39 | 5.71 | 5.43 | 4.65 | 5.45 | 3.06 | 5.82 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 8.61 | 8.61 | 7.21 | 7.21 | 5.05 | 5.05 | 5.05 |
| Reserves & surplus | 48.75 | 39.90 | 24.84 | 20.92 | 9.02 | 6.27 | 4.73 |
| Shareholders' funds (net worth) | 57.36 | 48.51 | 35.09 | 28.13 | 14.07 | 11.32 | 9.78 |
| Secured loans | 40.53 | 26.86 | 24.60 | 17.39 | 15.65 | 12.67 | 12.50 |
| Unsecured loans | 2.10 | 1.32 | 0.00 | 4.45 | 8.73 | 8.14 | 7.12 |
| Total debt | 42.63 | 28.18 | 24.60 | 21.84 | 24.38 | 20.81 | 19.62 |
| Total liabilities | 100 | 76.89 | 59.96 | 50.13 | 38.55 | 32.19 | 29.40 |
| Assets | |||||||
| Gross block | 14.02 | 12.75 | 12.14 | 9.46 | 4.73 | 4.65 | 2.80 |
| Net block | 8.71 | 8.40 | 9.05 | 7.10 | 2.58 | 2.65 | 2.80 |
| Capital work in progress | 0.00 | 0.52 | 0.42 | 0.42 | 3.54 | 3.33 | 3.13 |
| Investments | 0.53 | 0.13 | 0.13 | 0.11 | 0.11 | 0.11 | 0.11 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 78.41 | 57.54 | 48.42 | 37.09 | 28.16 | 24.06 | 23.93 |
| Cash & bank balances | 9.69 | 4.79 | 3.97 | 6.16 | 1.92 | 1.38 | 2.30 |
| Loans & advances | 18.62 | 13.60 | 3.25 | 2.72 | 1.95 | 2.81 | 6.00 |
| Total current assets | 107 | 75.93 | 55.64 | 45.97 | 32.03 | 28.25 | 32.23 |
| Total current liabilities | 22.26 | 11.30 | 9.66 | 5.79 | 6.11 | 7.00 | 8.94 |
| Net working capital | 84.46 | 64.63 | 45.98 | 40.18 | 25.92 | 21.25 | 23.29 |
| Total assets | 100 | 76.89 | 59.96 | 50.13 | 38.55 | 32.19 | 29.40 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 4.79 | 3.97 | 6.16 | 0.65 | 0.30 | 1.57 | 0.78 |
| Net cash from operating activities | 1.08 | 0.16 | (1.34) | 0.33 | (0.44) | 0.50 | (2.90) |
| Net cash from investing activities | (6.51) | (8.29) | (3.54) | (2.96) | (0.81) | (0.28) | (0.32) |
| Net cash from financing activities | 10.33 | 8.95 | 2.69 | 5.51 | 1.60 | (1.17) | 4.74 |
| Net change in cash | 4.90 | 0.82 | (2.19) | 2.88 | 0.35 | (0.95) | 1.52 |
| Closing cash | 9.69 | 4.79 | 3.97 | 6.16 | 1.92 | 1.38 | 2.30 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +29.6% | +27.7% | +21.9% | +18.2% | +20.1% | -19.6% | - |
| EBITDA growth | +32.2% | +19.0% | +8.5% | +40.2% | +29.0% | -10.0% | - |
| PBT growth | +95.6% | +23.1% | +12.0% | +21.7% | +86.7% | -44.6% | +4.0% |
| Net income growth | +82.3% | +25.3% | +17.4% | +21.0% | +79.2% | -47.4% | - |
| Revenue CAGR (3Y) | +26.4% | +22.6% | +20.1% | +4.5% | +7.4% | - | - |
| EBITDA CAGR (3Y) | +19.5% | +21.9% | +25.2% | +17.6% | +6.4% | - | - |
| Profitability & leverage | |||||||
| Net income margin | +2.6% | +1.9% | +1.9% | +2.0% | +1.9% | +1.3% | +2.0% |
| Return on capital employed | - | +13.5% | +14.0% | +17.1% | +15.3% | +13.0% | +18.1% |
| Return on net worth | - | +11.8% | +12.4% | +15.9% | +21.7% | +14.7% | +35.3% |
| Debt / equity | - | 0.63 | 0.73 | 1.10 | 1.78 | 1.92 | 1.98 |
| Long-term debt / equity | - | 0.09 | 0.15 | 0.31 | 0.49 | 0.68 | 0.83 |
| Interest cover | 35.14 | 51.96 | 51.26 | 56.07 | 49.11 | 63.19 | 37.76 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 21.39 | 19.05 | 23.78 | 30.43 | 31.90 | 54.32 |
| Inventory turnover | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | - | 4.96 | 4.81 | 5.17 | 5.47 | 4.95 | 6.69 |
| EPS (₹) | 10.39 | 5.71 | 5.43 | 4.65 | 5.45 | 3.06 | 5.82 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 56.35 | 44.46 | 39.03 | 27.88 | 22.43 | 19.37 |
To see the full year-wise statements and ratios of Integrated Personnel Services Limited, buy the company report.
Board of directors of Integrated Personnel Services Limited
Integrated Personnel Services has 6 current directors and 8 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sandeep Kaur Goyal Also directs: Simaya HR Services Private Limited, Ips Vantage Tech Services Private Limited, Ipsai Novation Tech Private Limited and 1 more | Whole-Time Director | 22 Jan 2004 | 22 Years 9 Months | Current |
| Tarang Raghuvir Goyal Also directs: Simaya HR Services Private Limited, Ips Vantage Tech Services Private Limited, Ipsai Novation Tech Private Limited and 1 more | Managing Director | 01 Jan 2007 | 19 Years 9 Months | Current |
| Ashok Nagori | Director | 11 Jul 2018 | 8 Years 3 Months | Current |
| Raghuvir Prasad Goyal | Director | 16 Oct 2017 | 9 Years 0 Months | Current |
| Girish Kumar Joshi Also directs: Ips Vantage Tech Services Private Limited, Visdem Technosys Limited, Sita Enterprises Limited and 2 more | Director | 18 Jul 2022 | 4 Years 3 Months | Current |
| Raveendran Chingath Nair | Director | 03 Sep 2025 | 1 Years 1 Months | Current |
Peer comparison
Integrated Personnel Services Limited is compared with the 4 companies closest to it by revenue in the Outsourcing industry (HR Outsourcing), with the same principal business activity (placement agencies and hr management services), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Integrated Personnel Services Limitedthis company | ₹400.8 Cr (FY 2026) | ₹10.97 Cr | 2.7% | 26.7% | 6,292 | Mumbai, Maharashtra, India |
| SHL (India) Private Limited | ₹338.27 Cr (FY 2025) | 9.0% | Mumbai, Maharashtra, India | |||
| Weavings Manpower Solutions Private Limited | ₹324.52 Cr (FY 2025) | 23.0% | Thane, Maharashtra, India | |||
| HLF Services Limited | ₹317.77 Cr (FY 2025) | 23.0% | Chennai, Tamil Nadu, India | |||
| Eteam Infoservices Private Limited | ₹310.75 Cr (FY 2025) | 17.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of Integrated Personnel Services Limited, buy the company report.
Auditor
Integrated Personnel Services Limited is audited by AMS & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| AMS & CO | FY 2023 | 130878W |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 64.40%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 35.60%.
Sep 2026
QUARTER
64.40% Promoters
35.60% Retail & Others
Promoter holding - history
Now 64.40% · Sep 2026High 67.10% · Dec 2025Low 64.40% · Sep 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 64.40% | 67.10% | 67.10% | 67.10% |
| Public | 35.60% | 32.90% | 32.90% | 32.90% |
Charges & borrowings
Open charges
₹71.94 Cr
Satisfied charges
₹11.69 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Jun 2026 | 101348562 | Others | ₹3.31 Cr | Open | |
| 09 Sep 2025 | 101156699 | Others | ₹10 Cr | Open | |
| 21 Aug 2023 | 100794828 | Others | ₹24.11 Cr | Open | |
| 21 Jan 2022 | 100533212 | Others | ₹1 Cr | Open | |
| 23 Jan 2021 | 100412653 | Others | ₹1.7 Cr | Open |
To see the full charge records of Integrated Personnel Services Limited, buy the company report.
Total charge records: 11 View all charges
Deals & funding
Integrated Personnel Services Limited has 8 deals on record (5 funding rounds, 2 secondary share transfers, 1 ipo), with disclosed funding of ₹1.48 Cr; the latest was in November 2022.
Total deals
8
Funding rounds
5
Secondary share transfers
2
IPO
1
Disclosed funding
₹1.48 Cr
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2022 | IPO | ₹12.74 Cr | Investors: IPO Shareholders - Integrated Personnel Services Limited, 3 individuals |
| Feb 2018 | Funding round | ₹1 Cr | Investors: 2 individuals |
| Jan 2018 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Manoj Sawla HUF |
| Apr 2011 | Funding round | ₹5.1 Lakh | Investors: Manoj Sawla HUF, an individual |
| Mar 2011 | Funding round | ₹18 Lakh | Investors: Manoj Sawla HUF, an individual |
To see the full deal history of Integrated Personnel Services Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Integrated Personnel Services Limited has 10 court cases on record: 5 filed by Integrated Personnel Services, 5 filed against it. 6 cases are pending and 4 are disposed.
Total cases
10
Filed by the company
5
Filed against the company
5
Pending
6
Disposed
4
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 10 | 5 | 6 |
Cases on record (5 of 10)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Commercial matter | Filed by the company against M/S Patch Software Pvt Ltd., and 5 others | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss cases s) | Filed against the company by an individual | Pending |
| District court, Central, Delhi | Court case (L I R) | Filed against the company by individuals | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Commercial matter | Filed by the company against individuals | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Cases) | Filed by the company against an individual | Pending |
To see the full case history of Integrated Personnel Services Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Integrated Personnel Services Limited was last rated by Crisil on 11 Jul 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 11 Jul 2020 |
To see the full credit ratings and regulatory alerts of Integrated Personnel Services Limited, buy the company report.
MSME payment delays
Integrated Personnel Services Limited has 8 MSME Form 1 returns on record between 2019 and 2023, listing 82 overdue payments to 10 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 10)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Integrated Personnel Services Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Integrated Personnel Services has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Ips Vantage Tech Services Private Limited | U74910TN2008PTC070076 |
To see the full group structure of Integrated Personnel Services Limited, buy the company report.
Employees & EPFO
Integrated Personnel Services Limited has a workforce of 6,292 employees on its EPFO records as of Apr 08, 2024, across 3 active EPFO establishments.
Employee count
6,292
Active EPFO establishments
3
Employee growth
12.18%
GST
Integrated Personnel Services has 7 GST registrations: 7 active. The first 4 active GSTINs are listed below.
Total GSTINs
7
Active
7
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCI1962K1ZF | Maharashtra | Active | 01 Jul 2017 |
| 33AABCI1962K1ZM | Tamil Nadu | Active | 07 Jul 2017 |
| 07AABCI1962K1ZH | Delhi | Active | 24 Jul 2017 |
| 19AABCI1962K1ZC | West Bengal | Active | 09 Aug 2017 |
To see the full GST registrations and return filing status of Integrated Personnel Services Limited, buy the company report.
Recent activity
Integrated Personnel Services Limited has 15 board changes on record since 2004: 11 appointments and 4 cessations. The latest: Chintan Hasmukhraj Doshi was appointed as CFO on 31 Oct 2025.
Charges
A charge with Others of Rs. 10.00 Cr registered on 09 Sep 2025 with Charge ID 101156699 was modified on 11 Aug 2026.
Charges
A charge with Others of Rs. 3.31 Cr registered on 25 Jun 2026 with Charge ID 101348562 was modified on 30 Jun 2026.
Charges
A charge with Others of Rs. 24.11 Cr registered on 21 Aug 2023 with Charge ID 100794828 was modified on 30 Jun 2026.
Charges
A charge with Others amounted to Rs. 3.31 Cr with Charge ID 101348562 was registered on 25 Jun 2026.
Charges
A charge with Others of Rs. 31.82 Cr registered on 08 Jan 2015 with Charge ID 10547529 was modified on 25 Jun 2026.
Filing
Integrated Personnel Services Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Charges
A charge registered on 21 Mar 2018 via Charge ID 100168130 with Others was fully satisfied on 17 Dec 2025.
Appointed
Chintan Hasmukhraj Doshi was appointed as CFO.
AGM
Integrated Personnel Services Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 10.00 Cr with Charge ID 101156699 was registered on 09 Sep 2025.
Appointed
Raveendran Chingath Nair was appointed as Director.
Ceased
Hariom Sarda ceased to be Director.
28 earlier events are in the company report.
Frequently asked questions
Integrated Personnel Services is an active public limited company based in Mumbai, Maharashtra, India. The company works in HR outsourcing and talent management, within the business outsourcing industry. It was incorporated on 22 January 2004 (22+ years old) and is registered under CIN L74190MH2004PLC144160. Listed on NSE: IPSL.
Integrated Personnel Services reported revenue of ₹400.8 Cr for FY 2025-26 (up 26.7% YoY) based on consolidated financials.
Integrated Personnel Services has 6 current directors:
- Tarang Raghuvir Goyal - Managing Director
- Sandeep Kaur Goyal - Whole-Time Director
- Ashok Nagori - Director
- Raghuvir Prasad Goyal - Director
- Girish Kumar Joshi - Director
- Raveendran Chingath Nair - Director
The latest financial statements of Integrated Personnel Services on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Integrated Personnel Services is 27AABCI1962K1ZF, registered in Maharashtra. The company has 7 GST registrations in all, of which 7 are active. Other active GSTINs include 33AABCI1962K1ZM (Tamil Nadu), 07AABCI1962K1ZH (Delhi), 19AABCI1962K1ZC (West Bengal).
The CIN (Corporate Identification Number) of Integrated Personnel Services is L74190MH2004PLC144160. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Integrated Personnel Services is a listed company as per MCA records. Its shares are listed on NSE (symbol: IPSL).
Integrated Personnel Services has 10 court cases on record: 5 filed by the company and 5 filed against it. 6 are pending.
Integrated Personnel Services was incorporated on 22 January 2004, making it 22+ years old. It is registered with the Registrar of Companies, Mumbai.
Integrated Personnel Services has 8 deals on record (5 funding rounds, 2 secondary share transfers, 1 ipo), with disclosed funding of ₹1.48 Cr; the latest was in November 2022.
The peers of Integrated Personnel Services by revenue are SHL (India) Private Limited, Weavings Manpower Solutions Private Limited, HLF Services Limited, Eteam Infoservices Private Limited, all in the Outsourcing industry (HR Outsourcing), with the same principal business activity (placement agencies and hr management services).
Chintan Hasmukhraj Doshi was appointed as CFO on 31 Oct 2025. Raveendran Chingath Nair was appointed as Director on 03 Sep 2025. Hariom Sarda ceased to be Director on 25 Oct 2024. Integrated Personnel Services has 15 board changes on record in total.
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