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HOV Services Limited
(HGM)
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Rating:44Neutral
Price Target:
₹52.00
▼(-22.05% Downside)
Action:Reiterated
Date:06/25/26
The score is pressured primarily by weakening financial performance: profits swung to losses, operating/free cash flow is negative, and leverage increased meaningfully. Technicals are also bearish with the price below major moving averages and negative MACD. Valuation is difficult to support on earnings given the negative P/E and no dividend yield data.
Positive Factors
Accelerating Revenue Growth
A near-doubling of revenue in FY2026 signals strong demand for HOV's services and successful client wins or expansion. Sustained high top-line growth can enable operating leverage, support scale economies, and provide a runway to restore margins if cost discipline is regained.
Negative Factors
Profitability Deterioration
A swing to net loss and compressed EBITDA margin indicate weakened earnings quality and pricing or cost pressure. Persistently low margins will limit reinvestment capacity, erode returns on capital, and make it harder to convert revenue growth into durable shareholder value.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
A near-doubling of revenue in FY2026 signals strong demand for HOV's services and successful client wins or expansion. Sustained high top-line growth can enable operating leverage, support scale economies, and provide a runway to restore margins if cost discipline is regained.
Read all positive factors
HOV Services Limited (HGM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹677.61M
Dividend YieldN/A
Average Volume (3M)1.86K
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue Growth146.53%
EPS Growth-88.61%
CountryIN
Employees652
SectorServices
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)4.10
Shares Outstanding12,594,972
10 Day Avg. Volume1,396
30 Day Avg. Volume1,857
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)2.95
Price to Sales (P/S)1.01
P/FCF Ratio-10.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
HOV Services Limited Business Overview & Revenue Model
Company Description
Handson Global Management (HGM) Limited, operating with its various subsidiaries, offers a comprehensive range of software and IT-enabled services. The company's core activities encompass software development, maintenance, support, and related sol...
How the Company Makes Money
HOV Services Limited generates revenue primarily through its outsourcing business model by offering fee-based services to its clients. These services include data entry, document processing, electronic content management, and other back-office man...
HOV Services Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
54
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 305.02M | 594.78M | 224.68M | 224.68M | 161.24M | 120.55M |
| Gross Profit | 55.20M | 93.18M | 26.84M | 38.81M | 31.67M | 29.18M |
| EBITDA | 75.02M | 26.82M | 59.68M | 44.16M | 62.15M | 35.29M |
| Net Income | 51.68M | -30.54M | 42.17M | 42.17M | 26.86M | 45.69M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 729.20M | 395.31M | 395.31M | 376.66M | 452.73M |
| Cash, Cash Equivalents and Short-Term Investments | 75.57M | 76.31M | 75.57M | 78.06M | 108.92M | 87.83M |
| Total Debt | 0.00 | 234.99M | 14.05M | 10.48M | 14.19M | 30.64M |
| Total Liabilities | -240.57M | 525.31M | 154.74M | 128.46M | 150.76M | 153.22M |
| Stockholders Equity | 240.57M | 203.89M | 240.57M | 228.42M | 225.90M | 299.51M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -57.37M | -6.72M | -6.72M | 15.39M | 18.66M |
| Operating Cash Flow | 0.00 | -44.79M | -6.44M | -6.44M | -7.03M | 25.21M |
| Investing Cash Flow | 0.00 | 144.00K | 11.81M | 16.14M | 36.84M | 24.82M |
| Financing Cash Flow | 0.00 | 60.79M | -8.93M | -5.00M | -5.00M | -12.91M |
HOV Services Limited Technical Analysis
Negative
66.71
Price Trends
57.42
Negative
55.95
Negative
64.04
Negative
Market Momentum
-1.69
Positive
38.92
Neutral
38.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HGM, the sentiment is Negative. The current price of 66.71 is above the 20-day moving average (MA) of 55.92, above the 50-day MA of 57.42, and above the 200-day MA of 64.04, indicating a bearish trend. The MACD of -1.69 indicates Positive momentum. The RSI at 38.92 is Neutral, neither overbought nor oversold. The STOCH value of 38.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HGM.
HOV Services Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
53 Neutral | ₹495.18M | 12.59 | ― | ― | 53.44% | 57.06% | |
51 Neutral | ₹609.54M | 124.48 | ― | ― | -9.00% | ― | |
51 Neutral | ₹724.90M | -14.00 | ― | ― | -9.88% | 32.17% | |
44 Neutral | ₹677.61M | -21.42 | ― | ― | 146.53% | -88.61% | |
41 Neutral | ₹324.39M | -0.67 | ― | ― | -29.59% | -3524.70% |
* Services Sector Average
IN:HGM
HOV Services Limited
53.80
-3.84
-6.66%
IN:ADROITINFO
Adroit Infotech Limited
9.14
-1.98
-17.81%
IN:CTE
Cambridge Technology Enterprises Limited
31.05
-19.63
-38.73%
IN:GSS
GSS Infotech Limited
12.57
-22.57
-64.23%
IN:PALREDTEC
Palred Technologies Limited
59.26
9.94
20.15%
HOV Services Limited Corporate Events
HGM Board Addresses Brief Governance Non-Compliance After Director Resignation
Jun 16, 2026
HandsOn Global Management (HGM) Limited has disclosed that its board reviewed a temporary non-compliance with SEBI’s board composition rules caused by the resignation of a woman independent director in October 2025. The vacancy existed for t...
HGM Publishes FY 2025-26 Results in Newspapers to Meet SEBI Disclosure Norms
Jun 1, 2026
HandsOn Global Management (HGM) Limited has notified the Bombay Stock Exchange and the National Stock Exchange that it has published its financial results for the fourth quarter and full year ended March 31, 2026 in the Financial Express and Pune ...
HGM seeks stock exchange nod to reclassify key promoters as public shareholders
May 30, 2026
HandsOn Global Management (HGM) Limited has notified the BSE and NSE that its board approved a request from certain existing promoters to reclassify their shareholdings as public, in line with Regulation 31A of the SEBI Listing Obligations and Dis...
HGM shareholders approve five-year appointment of independent director via postal ballot
Apr 25, 2026
HandsOn Global Management (HGM) Limited has announced the results of a postal ballot conducted via e-voting to seek shareholder approval for appointing Mr. Kesavan Nair Padmanabhan as an independent director. The resolution, treated as a special r...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.