Hinduja Global Solutions Limited

HGS.NS

Specialty Business Services · Industrials

Price

₹402.55

+0.00 (+0.00%)

Market Cap

₹18.73B

Exchange

National Stock Exchange of India

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 28, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

Dividends

Good

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Share count falling — buybacks

−11.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 52.5M (2022) → 46.5M (2026)

Winston Score History

The full picture

Hinduja Global Solutions Limited (HGS) is an international leader in business process management (BPM) services, operating extensively across North America (including the United States and Canada), Europe, India, and various other global markets. The company excels at optimizing business operations and refining customer interactions through a diverse portfolio of offerings. Its consumer-centric services encompass sophisticated customer engagement strategies, flexible work-at-home models, and the proprietary HGS Work Cloud platform. For organizational efficiency, HGS provides comprehensive business process optimization solutions, including back-office support, human resources outsourcing, and specialized business-to-business services. Furthermore, they are at the forefront of contact center transformation, integrating cognitive technologies, advanced analytics, and intelligence to enhance performance. HGS also delivers cutting-edge digital solutions, such as crafting superior digital experiences, implementing automation, offering robust analytics, and providing a full spectrum of cloud services. Within the healthcare sector, specialized offerings include enrollment and member engagement management, automated mailroom processes, support for providers and brokers, and bespoke consulting services. Beyond these, HGS engages in investment activities and furnishes essential contact center, consulting, call center, and offshoring capabilities. The company also develops platform-based solutions tailored for health insurance enterprises, alongside providing digital marketing, strategic consulting, cloud migration, and continuous cloud monitoring services. HGS caters to a wide array of industries, including automotive, banking, financial services, insurance, consumer electronics and technology, consumer packaged goods, healthcare, the public sector, retail and e-commerce, travel and hospitality, and telecommunications. Established in 1973 and headquartered in Bengaluru, India, the company was formerly recognized as HTMT Global Solutions Limited until its official rebranding to Hinduja Global Solutions Limited in December 2008.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-433.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

₹0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Cash Position

Cash flow positive

₹6.1B cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Hinduja Global Solutions Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

25.0%

Thin — 25.0% gross margin

Profit after running costs

Operating Margin

-15.0%

Losing money on operations — -15.0%

Return on the money invested

ROCE

-4.8%

Weak — -4.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-1.5%

Shrinking sales (-1.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.15

Conservative — low debt load (0.15)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

14.90%

Healthy income — 14.90% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

-91.8%

Dividend cut (-91.8% YoY) — warning sign

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