Happy Square Outsourcing Services has secured a work order worth Rs 53.21 lakh from M.P. Power Generating Company Limited. The contract entails providing assistance for day-to-day routine operations of the unit and associated auxiliaries at the Sirmour facility. This engagement is expected to generate revenue of approximately Rs 53.21 lakh over the contract period, thereby strengthening the company's order book.

The work order was bagged on June 22, 2026, at 06:15 PM. The services are to be provided for a duration of up to 24 Months. The order has been awarded by a domestic entity and falls within the ordinary course of business. There are no interests held by the promoter, promoter group, or group companies in M.P. Power Generating Company Limited, and the transaction does not qualify as a related party transaction.

The intimation was submitted to the National Stock Exchange of India Ltd pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure references the SEBI Master Circular HO/49/14/14(7)2025 CFD POD2/I/3762/2026 dated January 30, 2026.

Order Details

Happy Square Outsourcing Services Limited reported a Profit After Tax (PAT) of ₹598.40 lakh for the financial year ended March 31, 2026. The company posted a total income of ₹10,988.36 lakh for FY26, reflecting a 12.49% year-on-year growth. Management has guided for an 80% revenue growth in FY27, supported by a strong order pipeline and strategic investments in artificial intelligence (AI) technology.

The Board of Directors approved the audited standalone financial results on June 8, 2026. During the H2 and FY26 post-earnings conference call held on June 11, 2026, management highlighted that the company is targeting a sustainable EBITDA margin of 7% plus. The Chief Operating Officer, Mr. Shailesh Rajpal, attributed the recent margin pressure to significant expenses related to the IPO process and heavy investments in AI and technology infrastructure.

Financial Performance

For FY26, the company achieved an EBITDA of ₹786.38 lakh. The half-year ended March 31, 2026 (H2 FY26) demonstrated strong momentum, with total income rising 35.92% to ₹6,650.58 lakh. H2 FY26 PAT stood at ₹421.45 lakh, while EBITDA reached ₹510.25 lakh.

Operational Highlights and Future Outlook

Happy Square Outsourcing Services Limited operates under the brand White Force, offering temporary staffing, permanent recruitment, and payroll processing. The company serves over 300 corporate clients and has expanded its footprint to more than 20 states. In Q4 FY26, the company secured 25 tenders with a total order inflow of ₹24.13 Crore, including 7 new tenders aggregating ₹12.09 Crore.

Looking ahead, management disclosed a robust pipeline of approximately ₹35 Crore in work orders expected to materialize within 50 to 60 days. This includes a single work order of ₹21 Crore from the Rajasthan government and an additional pipeline of ₹15 Crore. The company is also focusing on international expansion, targeting operations in Europe following the receipt of necessary licenses.

To drive efficiency and margins, the company is integrating AI into its recruitment processes. Management stated that 35% of the product has already launched, including the 'Veera AI' chatbot. The company aims to achieve a 50%-50% mix of AI and human involvement in operations, which is expected to improve profitability significantly by FY28. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.