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Hinduja Global Solutions Limited (HGS) Fair Value & Analysis

Industrials · IN · Market cap ₹19.5B

HG Hinduja Global Solutions Limited HGS · NSE
Price₹413.05
Fair Value₹316.78
Upside-23.3%
Quality53/100
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Mixed Growth
Thin margins · 0.8% net margin
Low debt · generates free cash flow
Trails peers (2/10)
Narrow moat 7/100
Evidence: High Range ₹221.74 – ₹411.81 Share as image

Fair value as of: Aug 13, 2026

From 23 valuation models · updated 4 days ago

Share price −4.3% over the past month.

A solid business, but screening 23% overvalued on our models.

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What matters now

  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹221.74 to ₹411.81) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹1,607 ₹344.70 Fair Value ₹316.78 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹344.70 – ₹1,607 · fair‑value band ₹221.74 – ₹411.81 · the ₹413.05 price screens above the ₹316.78 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hinduja Global Solutions Limited (HGS) currently trades at ₹413.05, while our model-based Fair Value estimate is ₹316.78, implying the stock looks roughly 23.3% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Hinduja Global Solutions Limited generated revenue of ₹43.1B at a net margin of 0.8%. Revenue declined 6.6% year over year. It earns a return on equity of -1.8%. Net debt stands at ₹12.8B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹221.74 (bear case) to ₹411.81 (bull case); at ₹413.05, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -38% fair-value upside, at -23%, HGS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹1,051 ₹1,988 ₹3,524 80
Residual Income ₹1,194 ₹1,080 ₹756.15 76
Rev-Margin DCF ₹892.49 ₹1,497 ₹2,764 74
All 23 models by family
DCF Models
FCF DCF ₹1,111 ₹1,691 ₹3,539 38
Owner Earnings ₹1,463 ₹3,202 ₹6,853 31
5Y Revenue Exit ₹819.01 ₹1,321 ₹2,369 39
5Y EBITDA Exit ₹532.93 ₹742.33 ₹1,148 41
5Y P/E Exit ₹458.66 ₹689.55 ₹967.78 38
10Y Revenue Exit ₹892.17 ₹1,784 ₹2,333 36
10Y EBITDA Exit ₹708.26 ₹1,168 ₹1,876 37
10Y P/E Exit ₹654.07 ₹1,008 ₹1,504 35
Earnings-Based
Graham-Dodd ₹47.05 ₹328.14 ₹460.50 54
Lynch FV ₹169.53 ₹242.18 ₹314.84 50
PEG = 1.0 ₹169.53 ₹242.18 ₹314.84 46
Dividend Discount
Gordon GGM ₹1.97 ₹4.10 ₹6.51 70
DDM Multi-Stage ₹1.97 ₹3.46 ₹4.31 61
Multiples
P/E Multiple ₹108.98 ₹145.31 ₹181.64 63
P/S Multiple ₹88.22 ₹117.63 ₹147.04 58
P/B Multiple ₹88.22 ₹117.63 ₹147.04 55
EV/EBITDA ₹306.70 ₹375.81 ₹444.92 54
EV/Revenue ₹646.44 ₹880.89 ₹1,115 43
Asset-Based
NCAV (Graham) ₹893.86 ₹1,198 ₹1,788 50
Growth DCF
Growth DCF ₹1,051 ₹1,988 ₹3,524 80
Rev-Margin DCF ₹892.49 ₹1,497 ₹2,764 74
Economic Profit
Residual Income ₹1,194 ₹1,080 ₹756.15 76
Growth Earnings
Growth-Adj P/E ₹221.74 ₹316.78 ₹411.81 68

Widest divergence: Growth DCF (₹1,497) versus Dividend Discount (₹3.46). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹43.1B
Revenue growth (YoY) -6.6%
Net margin 0.8%
Return on equity -1.8%
Free cash flow ₹2.8B FY2026
Operating margin -9.9%
More key figures
EPS (TTM) ₹-24.90
EPS growth (YoY) -89.2%
Net debt ₹12.8B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 55 · Market factors (momentum, volatility) 45

Profitability 18
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 90
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Hinduja Global Solutions Limited provides business process management services in the United States, Canada, the United Kingdom, Europe, India, Philippines, and internationally.

Full company description

Hinduja Global Solutions Limited provides business process management services in the United States, Canada, the United Kingdom, Europe, India, Philippines, and internationally. It provides voice and non-voice based services, such as contact center solutions and back office transaction processing, as well as technology services in the areas of artificial intelligence, automation, cybersecurity, data analytics, and cloud. The company also offers digital marketing services, including agency partnership and collaboration, social media monitoring and engagement, content moderation, and online reputation management; and outsourcing solutions, comprising back office outsourcing, contact center outsourcing, and offshore and IT staffing solutions. It serves banking, finance, insurance, consumer packaged goods, healthcare, media, retail, public sector and utilities, telecommunications, and media and technology industries. The company was formerly known as HTMT Global Solutions Limited and changed its name to Hinduja Global Solutions Limited in December 2008. Hinduja Global Solutions Limited was founded in 1973 and is based in Bengaluru, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Hinduja Global Solutions Limited reported revenue of ₹43.1B in FY2026 versus ₹42.4B in FY2022, a compound +0.4%/yr. Reported net income was ₹322M in FY2026, compounding −73.0%/yr from FY2022.

Growth Quality 71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹43.1B
Latest YoY
−2.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−1.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.6%
Avg. growth/yr (19Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+112.3%
Revenue +0.4%/yr
FY22 ₹42.4B
FY23 ₹44.9B
FY24 ₹46.2B
FY25 ₹44.0B
FY26 ₹43.1B
Net income −73.0%/yr
FY22 ₹60.5B
FY23 ₹3.3B
FY24 ₹1.3B
FY25 ₹1.2B
FY26 ₹322M

HGS screens 23% overvalued. Compare with Cintas Corporation →

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Cite: Fair Value Calculator (2026). "Hinduja Global Solutions Limited Fair Value". https://www.fairvalue-calculator.com/stock/HGS

Peer Group

Specialty Business Services · 248 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 53 · Below median
Fair Value upside −23% · Below median
Return on assets -2% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) -10% · Bottom 25%
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/FCF 0.1× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 2 · sector 25
FUTURE 0 · sector 25
PAST 0 · sector 35
HEALTH 99 · sector 91
DIVIDEND 1 · sector 52

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $199.52 $95.19 -52%
RELX PLC RELX $34.55 $32.24 -7%
Thomson Reuters Corporation TRI C$142.85 C$70.40 -51%
Copart, Inc CPRT $28.99 $28.59 -1%
Global Payments Inc GPN $88.53 $68.98 -22%
RB Global, Inc RBA C$120.52 C$49.14 -59%
Brambles Limited BXB A$19.89 A$12.28 -38%
UL Solutions Inc ULS $76.68 $33.62 -56%
Aramark ARMK $60.35 $13.18 -78%
ISS A/S ISS kr 288.20 kr 251.13 -13%

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Frequently asked questions

Is Hinduja Global Solutions Limited (HGS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹316.78 versus a price of ₹413.05, about −23% (overvalued).
What is the fair value of HGS?
Our model-based fair value for Hinduja Global Solutions Limited is ₹316.78 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹413.05.
What is the quality score of HGS?
Hinduja Global Solutions Limited has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Hinduja Global Solutions Limited (HGS)?
Hinduja Global Solutions Limited reported trailing-twelve-month revenue of about ₹43.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of HGS?
The net profit margin of Hinduja Global Solutions Limited is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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