TeamLease Q4 Review – Strong Demand To Drive Growth In FY23: Motilal Oswal

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TeamLease Services Ltd. delivered a strong operational performance in Q4 FY22, with revenue up 3% QoQ on broad-based growth across verticals.

It also added ~12,000 associates after a very strong hiring in recent quarters, benefitting from a strong demand environment. Ebitda margin rose 12 basis points QoQ to 2.26% due to higher core employee addition. 

The management remains positive on its growth outlook, as supportive macro and new logo additions boosts demand for associates.

We expect TeamLease to report good revenue growth in all verticals on continued improvement in general staffing, a pickup in human resource services, increased manpower demand, and higher margin replacements in the IT staffing business.

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