Q1FY22 Result Update - TeamLease - ICICI Direct

Teamlease reported healthy revenue growth.

- Revenues increased 2.7% QoQ led by general & specialised staffing

- EBITDA margins increased 20 bps QoQ 2.1%

- Operating cash flow conversion to EBITDA was 130%

Key triggers for future price performance

- Key beneficiary of under penetrated temporary staffing market (0.5% in 2015 vs. global average of 1.7%) and formalisation (16% in 2018)

- The pandemic has forced enterprises to variablise its cost structure leading to increased outsourcing of flexi staffing. Hence, we expect overall revenues to increase at 22.7% CAGR in FY21-23E

- TLL is expected to register healthy margins mainly led by reversal of discounts, improving of core to associate ratio, improving specialised staffing margins and higher revenue growth

For details, click on the link below: Link to the report

Shares of TeamLease Services Ltd was last trading in BSE at Rs. 4256.05 as compared to the previous close of Rs. 3930.6. The total number of shares traded during the day was 12295 in over 3772 trades.

The stock hit an intraday high of Rs. 4493.95 and intraday low of 3951.75. The net turnover during the day was Rs. 52375233.

Source : Equity Bulls

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