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Happy Square Outsourcing Services (WHITEFORCE)₹33.80−2.73%Diversified Commercial Services
In the Mar 2026 quarter (standalone), Happy Square Outsourcing Services reported sales of ₹65.84 Cr, up 34.8% from Mar 2025, and net profit of ₹3.99 Cr, up 32.6% year on year. For the year to Mar 2026, sales were ₹109 Cr and net profit ₹5.99 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|
| Sales | 48.87 | 48.86 | 42.93 | 65.84 |
| Expenses | 44.09 | 44.05 | 41.07 | 61.04 |
| Operating Profit | 3.99 | 4.99 | 2.99 | 3.99 |
| OPM % | 9.0% | 11.0% | 6.0% | 7.0% |
| Other Income | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.99 | 0.99 | 0.99 | 0.00 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 3.99 | 3.99 | 1.99 | 3.99 |
| Tax % | 26.1% | 25.1% | 7.1% | −5.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | −0.22 |
| Net Profit | 3.01 | 3.01 | 2.01 | 3.99 |
| EPS (Rs) | 3.12 | 3.93 | 1.52 | 3.62 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales | 27.92 | 52.85 | 68.78 | 96.71 | 109 |
| Expenses | 28.03 | 50.08 | 63.13 | 88.09 | 102 |
| Operating Profit | 0.00 | 2.99 | 5.99 | 8.98 | 6.99 |
| OPM % | 1.6% | 5.0% | 9.0% | 10.0% | 7.0% |
| Other Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.99 | 0.99 | 0.99 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 1.01 |
| Profit before tax | 0.00 | 1.99 | 5.99 | 7.99 | 5.99 |
| Tax % | 25.1% | 25.1% | 25.1% | 25.1% | −1.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | −0.20 |
| Net Profit | 0.00 | 2.01 | 3.99 | 6.01 | 5.99 |
| EPS (Rs) | 249.83 | 1,786.36 | 4,383.33 | 7.05 | 5.14 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.02 | 0.02 | 0.01 | 7.99 | 12.01 |
| Reserves | 0.00 | 2.00 | 6.99 | 3.99 | 29.98 |
| Borrowings | 4.00 | 6.99 | 10.99 | 14.98 | 6.99 |
| Other Liabilities | 3.98 | 5.97 | 10.95 | 12.94 | 11.94 |
| Total Liabilities | 8.99 | 13.97 | 27.93 | 39.90 | 60.92 |
| Fixed Assets | 0.00 | 0.00 | 1.99 | 2.99 | 3.99 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 5.01 |
| Other Assets | 7.99 | 13.97 | 25.94 | 35.91 | 51.92 |
| Trade receivables | 6.02 | 7.61 | 15.16 | 22.85 | 42.47 |
| Cash & equivalents | 0.50 | 0.24 | 0.23 | 0.66 | 1.41 |
| Total Assets | 8.99 | 13.97 | 27.93 | 39.90 | 60.92 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from operating activity | 0.00 | −1.01 | −2.01 | −2.01 | −14.02 |
| Cash from investing activity | −0.99 | −0.99 | −1.99 | 0.00 | −0.99 |
| Cash from financing activity | 1.01 | 2.01 | 4.02 | 2.01 | 15.04 |
| Net cash flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.99 |
| Capex | 0.22 | 0.18 | 1.89 | 1.46 | 1.23 |
| Free cash flow | 0.00 | −2.01 | −4.01 | −3.01 | −15.02 |
| CFO / OP % | 44.0% | −28.1% | −7.0% | 4.0% | −196.0% |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor days | 77 | 52 | 79 | 85 | 141 |
| Cash conversion cycle | 77 | 52 | 79 | 85 | 141 |
| Working capital days | 18 | 15 | 27 | 40 | 109 |
| ROCE % | — | 43.0% | 50.0% | 41.0% | 19.0% |
For the Mar 2026 quarter, Happy Square Outsourcing Services reported sales of ₹65.84 Cr, up 34.8% year on year and net profit of ₹3.99 Cr, up 32.6% year on year. The operating margin was 7.0%.
Happy Square Outsourcing Services' sales for the year to Mar 2026 were ₹109 Cr.
Net profit for the year to Mar 2026 was ₹5.99 Cr. Earnings per share over the same trailing period were ₹5.14.
Happy Square Outsourcing Services reported borrowings of ₹6.99 Cr at Mar 2026, against cash and equivalents of ₹1.41 Cr.
Cash from operations was −₹14.02 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹15.02 Cr.