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HandsOn Global Management (HGM) Limited (HGM)

₹38.58 -4.20% last close, 23 Oct

📊 NSE: HGM 🏢 IT Enabled Services 📢 Latest filing: 18 Sep 2026 📝 Analysis written: 13 Nov 2025

HGM delivery percentage

NSE end-of-day data for Fri, 23 Oct 2026

On Fri, 23 Oct 2026, 79.43% of the HGM shares traded on NSE were taken to delivery, against the stock's own 20-session average of 83.76%. That is close to its usual level. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal.

79.43%Delivery, 23 Oct

83.76%Own 20-session average

0.4×Volume vs its average

₹38.58NSE close · -4.20%

Delivery in the last 5 sessions: 100.0% · 71.8% · 71.2% · 79.0% · 79.4%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

HGM Shareholders Approve Reclassification of 6.46% Promoter Stake to Public

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 18 Sep 2026, 06:55 PM

HandsOn Global Management (HGM) Limited announced that shareholders approved an Ordinary Resolution at the 38th AGM held on September 18, 2026, to reclassify three promoter entities to the public category. The applicants comprise Stern Capital Partners LLC (5.51%), Surinder Rametra (0.95%), and Sun Investment Partners LLC (0%), totaling 814,246 shares or 6.46% of the company. The reclassification complies with Regulation 31A(8) of SEBI LODR Regulations, 2015, and final regulatory approval from the stock exchanges remains the concluding step.

Shareholders approved reclassification of 814,246 shares representing 6.46% of total shares from Promoter to Public category
Stern Capital Partners LLC holds 694,246 shares or 5.51%
Surinder Rametra holds 120,000 shares or 0.95%
Sun Investment Partners LLC holds 0 shares or 0%
Approval granted at the 38th Annual General Meeting held on September 18, 2026

💡 Track subsequent formal approval and confirmation filings from NSE and BSE to finalize the reclassification of the 6.46% holding into public float.

HGM Concludes 38th AGM; Voting Results to Follow

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 18 Sep 2026, 03:03 PM

HandsOn Global Management (HGM) Limited conducted its 38th Annual General Meeting on September 18, 2026, via Video Conferencing between 10:30 AM and 11:17 AM IST. Remote e-voting was held from September 14 to September 17, 2026, alongside InstaPoll during the meeting. The company noted that the Statutory and Secretarial Auditors' reports for FY26 contained no qualifications or adverse remarks. Final voting outcomes on the transacted resolutions will be submitted separately.

38th AGM held on September 18, 2026, concluding at 11:17 AM IST
Remote e-voting held from September 14, 2026 (9:00 AM) to September 17, 2026 (5:00 PM)
Auditor reports for the year ended March 31, 2026, contained zero qualifications or adverse remarks
InstaPoll facility provided for 15 minutes during the meeting for eligible shareholders

💡 Monitor the upcoming filing of scrutinizer reports and voting results to confirm shareholder approval of all ordinary and special resolutions.

HGM Invests ₹5.57 Cr ($579.9K) for 1.45% Stake in NASDAQ-Listed XBP Global

🟡 NEUTRAL ⭐ 6/10

M&A 📅 17 Sep 2026, 07:41 AM

HandsOn Global Management (HGM) Limited's Board has approved an investment of US$ 579,997.18 (approximately ₹5.57 Crore) to subscribe to 204,946 shares of common stock of NASDAQ-listed XBP Global Holdings, Inc. at US$ 2.83 per share via private placement. Following the transaction through HCI LLC, HGM will hold a 1.45% non-controlling equity stake. The acquisition constitutes an arm's-length related party transaction, as HGM's promoter owns an equity stake and sits on the board of XBP Global. The transaction represents ~24.8% of HGM's FY25 revenue (₹22.47 Crore).

Approved subscription to 204,946 common shares of XBP Global at US$ 2.83 per share
Total cash consideration is US$ 579,997.18 (equivalent to ₹5.57 Crore)
HGM will hold 1.45% of XBP Global's outstanding shares post-transaction
Target reported FY25 turnover of US$ 788.0 Million and FY24 turnover of US$ 867.1 Million
Classified as a related party transaction since HGM's promoter holds equity and a board seat in XBP Global

💡 Track subsequent disclosures on the completion of the share issuance and monitor any business synergies or revenue integrations arising from XBP Global's workflow automation and AI platforms.

HGM Approves ₹5.50 Cr Short-Term Loan to Related Party XBP Asia IT Solutions

🔵 WATCH ⭐ 5/10

BOARD_MEETING 📅 03 Sep 2026, 07:19 PM

HandsOn Global Management (HGM) Limited's Board of Directors approved granting a short-term loan of ₹5.50 crore to related party XBP Asia IT Solutions Private Limited. The loan is extended for a 90-day duration to meet working capital requirements and carries an interest rate of 10% per annum. Relative to HGM's FY25 annual revenue of ₹22.47 crore, the loan size represents approximately 24.5% of revenue. The transaction was cleared by the Audit Committee and classified as a non-material related party transaction in the ordinary course of business.

Approved short-term loan of ₹5.50 Crore to related party XBP Asia IT Solutions Private Limited
Loan tenure is 90 days with an interest rate of 10% per annum
Loan magnitude equals ~24.5% of the company's FY25 revenue of ₹22.47 Cr
Transaction vetted and approved by the Audit Committee prior to Board consent

💡 Track subsequent quarterly filings to verify the complete principal recovery and interest servicing within the agreed 90-day repayment timeline.

HGM Schedules 38th AGM for Sep 18, 2026; Proposes Reclassifying 6.46% Promoter Stake to Public

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Aug 2026, 05:37 PM

HandsOn Global Management (HGM) Limited has issued the notice for its 38th Annual General Meeting scheduled for September 18, 2026, via Video Conferencing. Key agenda items include the adoption of FY25-26 audited financials and the re-appointment of Independent Director Ajay Puri for a second 5-year term starting September 22, 2026. Additionally, the company seeks shareholder approval to reclassify 814,246 equity shares (6.46% of total equity) held by Stern Capital Partners LLC and Surinder Rametra from Promoter to Public category, and remove Sun Investment Partners LLC from the promoter group.

38th Annual General Meeting convened for September 18, 2026, at 10:30 AM IST via VC/OAVM
Proposed reclassification of 814,246 promoter shares (6.46% stake) to public category across 3 entities
Stern Capital Partners LLC (5.51%, 694,246 shares) and Surinder Rametra (0.95%, 120,000 shares) seeking reclassification
Special resolution to re-appoint Ajay Puri as Independent Director for a 2nd term of 5 years from Sep 22, 2026 to Sep 21, 2031

💡 Track shareholder voting results following the AGM on September 18, 2026, particularly for the promoter reclassification and board re-appointments.

HGM Reports Q1 Loss of ₹2.06 Cr; Board Approves $2M Capital Infusion in Overseas Subsidiary

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 10:53 AM

HGM Limited reported a weak Q1 FY27 with consolidated revenue from operations declining 20.6% YoY to ₹10.80 Cr. The company swung to a net loss of ₹2.06 Cr from a profit of ₹1.73 Cr in the year-ago period, impacted by lower income and a sharp rise in finance costs. A major strategic move was announced with the board approving a capital infusion of up to US$ 2 Million (approx. ₹16.6 Cr) into its Cayman Islands subsidiary, HCI-LLC. This infusion is significant, representing a substantial portion of the company's estimated market capitalization.

Revenue from operations decreased by 20.6% YoY to ₹1,079.89 Lakhs from ₹1,360.90 Lakhs.
Net loss for the quarter stood at ₹206.27 Lakhs compared to a net profit of ₹172.70 Lakhs in Q1 FY26.
Board approved a capital infusion of up to US$ 2 Million into overseas subsidiary HCI-LLC, Cayman Islands.
Finance costs surged significantly to ₹49.67 Lakhs from ₹7.89 Lakhs in the corresponding quarter last year.
Total expenses of ₹1,327.64 Lakhs exceeded total income of ₹1,109.04 Lakhs for the period.

💡 Investors should monitor the regulatory approvals for the $2M capital infusion and track if this investment leads to revenue recovery in the overseas subsidiary. Watch for management commentary on the sharp rise in finance costs and the 20% revenue contraction.

HGM to convene 38th Annual General Meeting on September 18, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 28 Jul 2026, 08:15 PM

HandsOn Global Management (HGM) Limited has announced its 38th Annual General Meeting (AGM) scheduled for September 18, 2026. The meeting will be held virtually via Video Conferencing (VC) or Other Audio Visual Means (OAVM). The Board of Directors approved this schedule through a circular resolution passed on July 28, 2026. Shareholders should expect the dispatch of the Annual Report for the Financial Year 2025-26 in the coming weeks.

38th Annual General Meeting scheduled for September 18, 2026
Board approval finalized via circular resolution on July 28, 2026
Meeting to be conducted at 10:30 A.M. IST through virtual mode
Annual Report for FY 2025-26 to be dispatched to members in due course

💡 Investors should review the Annual Report for FY 2025-26 once dispatched to assess the company's progress following its rebranding from HOV Services Limited.

6.46% Promoter Stake Reclassification Approved by Exchanges for HGM Limited

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 24 Jul 2026, 05:12 PM

HandsOn Global Management (HGM) Limited has received No Objection Letters (NOLs) from both BSE and NSE for the reclassification of three promoter entities to the 'Public' category. The entities involved—Stern Capital Partners LLC, Surinder Rametra, and Sun Investment Partners LLC—collectively hold 814,246 shares, representing 6.46% of the company's equity. This approval follows the company's application submitted on May 30, 2026. The reclassification is now subject to shareholder approval before it becomes final.

Total of 814,246 shares representing 6.46% of equity to be moved from Promoter to Public category
Stern Capital Partners LLC holds the largest portion of the reclassified stake at 5.51% (694,246 shares)
Surinder Rametra holds 0.95% (120,000 shares), while Sun Investment Partners LLC holds 0% stake
Exchange approval received on July 24, 2026, following an application dated May 30, 2026
Final effectiveness is contingent upon obtaining shareholder approval as per Regulation 31A of SEBI LODR

💡 Investors should watch for the upcoming shareholder meeting notice and the subsequent filing of the revised shareholding pattern to confirm the transition of these holdings to the public float.

HGM Submits Quarterly Compliance Certificate for Dematerialization (June 2026)

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 03 Jul 2026, 06:42 PM

HandsOn Global Management (HGM) Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, confirms that all securities dematerialized or rematerialized during the quarter ended June 30, 2026, have been appropriately reported to the stock exchanges. This is a standard procedural filing required for all listed entities to maintain transparency in shareholding records. There is no impact on the company's financial position or business operations.

Compliance certificate covers the quarter ended June 30, 2026
Certificate issued by Registrar and Share Transfer Agent, KFin Technologies Limited, on July 1, 2026
Confirms reporting of dematerialization and rematerialization activities to NSE and BSE
Filing submitted to exchanges on July 3, 2026, in accordance with SEBI timelines

💡 No action is required as this is a routine administrative filing. Investors should monitor the company's upcoming quarterly financial results for operational updates.

HGM Announces Trading Window Closure for Q1 FY2026-27 Results from July 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Jun 2026, 01:40 PM

HandsOn Global Management (HGM) Limited has announced the closure of its trading window starting July 1, 2026, in preparation for the Q1 FY2026-27 financial results. This restriction applies to promoters, directors, and designated persons to comply with SEBI Insider Trading regulations. The window will remain closed until 48 hours after the announcement of the unaudited financial results for the quarter ending June 30, 2026. This is a standard regulatory procedure and does not indicate any material change in business operations.

Trading window closure effective from July 1, 2026.
Closure is related to the declaration of Q1 FY2026-27 financial results for the period ending June 30, 2026.
Restriction applies to all designated persons, including promoters and directors.
Trading window will reopen 48 hours after the financial results are officially declared.

💡 No action is required as this is a routine regulatory filing. Investors should await the announcement of the Q1 result date to assess the company's financial performance.

HGM Board Addresses NSE Fine for 2-Day Non-Compliance in Board Composition

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 16 Jun 2026, 08:12 PM

HandsOn Global Management (HGM) Limited has formally addressed a fine levied by the National Stock Exchange (NSE) regarding a brief regulatory lapse. The non-compliance involved the vacancy of a Woman Independent Director position for a period of two days, from October 13 to October 14, 2025. The company rectified the board composition by filling the vacancy on October 15, 2025. The Board has now advised management to improve succession planning to prevent future regulatory penalties.

Temporary non-compliance with SEBI (LODR) Regulations occurred between October 13 and October 14, 2025.
The vacancy for a Woman Independent Director was filled effective October 15, 2025.
The Board reviewed the NSE fine letter dated February 27, 2026, in its meeting held on May 30, 2026.
Management has been directed to strengthen monitoring and succession planning processes.

💡 No action is required as the non-compliance was minor, short-lived, and has already been rectified. This event is unlikely to impact the company's long-term fundamentals.

HGM Promoters Declare Zero Share Encumbrance for Financial Year 2025-26

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 09 Jun 2026, 05:42 PM

The promoters and promoter group of HandsOn Global Management (HGM) Limited have submitted a formal declaration under SEBI (SAST) Regulations. They confirmed that no equity shares of the company were encumbered, directly or indirectly, during the financial year ended March 31, 2026. This disclosure includes key promoter entities such as Adesi 234 LLC, HOF2 LLC, and General Pacific LLC, alongside individual promoters Parvinder S Chadha and Sunil Rajadhyaksha.

Promoters declared zero encumbrances on equity shares for the financial year ending March 31, 2026.
Compliance filing under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The declaration covers the entire promoter group including Parvinder S Chadha, Sunil Rajadhyaksha, and four associated LLCs.
The filing was submitted to both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on April 2, 2026.

💡 Investors should take this as a positive sign of financial health, as it confirms that promoter holdings are not pledged for debt. No immediate trading action is required based on this routine regulatory disclosure.

HGM Seeks NOC for Reclassification of 6.46% Promoter Stake to Public Category

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 31 May 2026, 12:44 AM

HandsOn Global Management (HGM) Limited has submitted an application to BSE and NSE for the reclassification of three promoter entities to the 'Public' category. The entities involved include Stern Capital Partners LLC, Surinder Rametra, and Sun Investment Partners LLC, who collectively hold 814,246 shares representing 6.46% of the company's equity. This regulatory step follows the Board's approval on May 30, 2026, and is subject to final clearance from the stock exchanges and shareholders. The move will technically increase the public float of the company once approved.

Application filed with BSE and NSE under Regulation 31A of SEBI LODR for promoter reclassification.
Total of 814,246 shares (6.46% stake) to be shifted from Promoter to Public category.
Stern Capital Partners LLC is the largest entity being reclassified with a 5.51% stake (694,246 shares).
Surinder Rametra holds 0.95% (120,000 shares), while Sun Investment Partners LLC holds 0% but is included in the request.
The reclassification is pending final approval from stock exchanges and the company's shareholders.

💡 Investors should note this as a technical change in shareholding structure that increases the public float but does not impact business fundamentals. No immediate action is required pending final regulatory approval.

HGM Ltd Approves FY26 Results, Re-appoints Ajay Puri as Director, and Receives Reclassification Request

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 30 May 2026, 10:16 AM

HandsOn Global Management (HGM) Limited has approved its audited financial results for the fiscal year ended March 31, 2026, with an unmodified auditor's opinion. The board has recommended the re-appointment of Mr. Ajay Puri as a Non-Executive Independent Director for a second five-year term effective September 22, 2026. Notably, the company received requests from certain promoters to reclassify their shareholding to the 'Public' category, which requires further approvals. Additionally, the registered office will move within its current Pune location effective July 1, 2026.

Audited FY26 standalone and consolidated financial results approved with an unmodified audit opinion.
Mr. Ajay Puri re-appointed as Independent Director for a 5-year term from September 22, 2026, to September 21, 2031.
Promoter reclassification requests received on May 11, 2026, pending shareholder and stock exchange approvals.
Registered office shifting from 3rd floor to 4th floor of Sharda Arcade, Pune, effective July 1, 2026.

💡 Investors should monitor the upcoming shareholder vote regarding the promoter reclassification request, as this could alter the company's public float. The re-appointment of Mr. Puri ensures continuity in the board's independent oversight.

HGM Reports FY26 Consolidated Net Loss of ₹3.05 Cr Despite 154% Revenue Surge

🔵 WATCH ⭐ 7/10

EARNINGS 📅 30 May 2026, 10:06 AM

HandsOn Global Management (HGM) Limited reported a significant jump in consolidated total income to ₹62.96 crore for FY26, up from ₹24.75 crore in FY25. However, the company swung to a consolidated net loss of ₹3.05 crore for the full year, compared to a profit of ₹4.22 crore in the previous year, primarily due to higher operating expenses and the acquisition of Aideo Technologies LLC. On a standalone basis, the company remained profitable with a net profit of ₹5.62 crore. The board also noted a strategic shift with certain promoters seeking reclassification to the 'Public' category.

Consolidated Total Income surged 154% YoY to ₹6,295.51 lakhs in FY26 compared to ₹2,475.14 lakhs in FY25.
Consolidated Net Loss stood at ₹305.39 lakhs for FY26 against a profit of ₹421.71 lakhs in the previous fiscal year.
Acquisition of Aideo Technologies LLC (USA) resulted in a Goodwill recognition of ₹1,697.06 lakhs on the balance sheet.
Standalone EPS improved to ₹4.46 from ₹3.35, while Consolidated EPS dropped to -₹2.42 due to acquisition-related costs.
Board approved the re-appointment of Ajay Puri as Independent Director for a second five-year term.

💡 Investors should closely monitor the integration of Aideo Technologies and whether its AI-powered solutions can turn the consolidated bottom line positive in FY27. The standalone profitability is a cushion, but the consolidated loss and promoter reclassification request suggest a transition phase for the company.

View All HGM Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue from operations grew by 39.35% YoY from INR 16.12 Cr in FY24 to INR 22.47 Cr in FY25. Segment-specific growth percentages are not disclosed in available documents.

Geographic Revenue Split

Not disclosed in available documents. The company is headquartered in Pune, Maharashtra.

Profitability Margins

Net Profit Margin for FY25 was 18.8%. Gross and Operating margins are not explicitly split, but Profit Before Tax (PBT) margin was 21.3% (INR 4.80 Cr on INR 22.47 Cr revenue).

EBITDA Margin

EBITDA Margin for FY25 was approximately 26.6% (calculated as PBT of INR 4.80 Cr plus Depreciation of INR 1.19 Cr over Revenue of INR 22.47 Cr).

Capital Expenditure

Property, Plant and Equipment (PPE) decreased from INR 42.82 Lakhs in FY24 to INR 23.68 Lakhs in FY25, indicating minimal new capex and ongoing depreciation of existing assets.

Credit Rating & Borrowing

Not disclosed in available documents. Net cash used in financing activities was INR 89.26 Lakhs in FY25.

⚙️ Operational Drivers

Raw Materials

Not applicable as HGM is a service-oriented company (IT/BPM). Reporting under inventory clauses is not applicable to the company.

Key Suppliers

Not disclosed in available documents. KFin Technologies Limited serves as the Registrar and Share Transfer Agent.

Capacity Expansion

Not applicable for service-based operations. The company maintains investment property valued at INR 8.01 Cr as of March 31, 2025.

Raw Material Costs

Not applicable. Operational costs are primarily driven by employee benefits and administrative expenses (not detailed in snippets).

📈 Strategic Growth

Growth Strategy

The company rebranded from HOV Services Limited to HandsOn Global Management (HGM) Limited to align with its global management services focus. Growth is likely driven by expanding its IT-enabled and business process management service offerings within its existing client base and leveraging its Pune-based operational hub.

Products & Services

IT-enabled services, Business Process Management (BPM), and Investment Property Management.

Brand Portfolio

HGM, HandsOn Global Management, HOV Services (formerly).

🌍 External Factors

Industry Trends

The industry is shifting toward increased digitalization and the requirement for robust audit trails in financial reporting. HGM is positioned with compliant accounting software and effective internal financial controls as of March 31, 2025.

Competitive Landscape

Competes with other global BPM and IT-enabled service providers.

Competitive Moat

The company's moat is built on its established reputation (formerly HOV Services) and a strong internal control framework that provides reasonable assurance regarding the reliability of financial reporting.

Macro Economic Sensitivity

Sensitive to global IT spending and corporate outsourcing trends.

Consumer Behavior

Shift toward demanding higher transparency and real-time auditability in corporate management services.

⚖️ Regulatory & Governance

Industry Regulations

Compliant with SEBI (Depositories and Participants) Regulations 2018 and the Companies Act 2013. Maintenance of cost records is not prescribed for the company's activities.

Taxation Policy Impact

Current tax expense for FY25 was INR 1.38 Cr on a PBT of INR 4.80 Cr, representing an effective tax rate of approximately 28.7%.

Legal Contingencies

The company has no pending litigations that would impact its financial position as of March 31, 2025.

⚠️ Risk Analysis

Key Uncertainties

Inherent limitations of internal financial controls, including the possibility of collusion or improper management override, which could lead to undetected material misstatements.