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Team Lease Services Ltd.

BSE: 539658 Sector: Others
NSE: TEAMLEASE ISIN Code: INE985S01024
BSE 11:57 | 30 Sep 3026.35 -48.40
(-1.57%)
OPEN

3066.80

HIGH

3066.80

LOW

2992.65

NSE 11:44 | 30 Sep 3017.50 -59.60
(-1.94%)
OPEN

3077.15

HIGH

3082.05

LOW

2990.70

OPEN 3066.80
PREVIOUS CLOSE 3074.75
VOLUME 323
52-Week high 5544.10
52-Week low 2912.00
P/E 55.50
Mkt Cap.(Rs cr) 5,175
Buy Price 3018.70
Buy Qty 1.00
Sell Price 3026.70
Sell Qty 2.00
OPEN 3066.80
CLOSE 3074.75
VOLUME 323
52-Week high 5544.10
52-Week low 2912.00
P/E 55.50
Mkt Cap.(Rs cr) 5,175
Buy Price 3018.70
Buy Qty 1.00
Sell Price 3026.70
Sell Qty 2.00

Team Lease Services Ltd. (TEAMLEASE) - Chairman Speech

Company chairman speech

Dear Shareholders

The year 2021-22 turned out to be a year of two halves. The first halfbrought us the devastating societal and economic impacts of the Delta variant of COVID-19and the second a return even if occasionally impeded to normalcy. Those businesses thatwent into the 2-year crisis with a strong balance sheet and open mind began to see thebenefits in the latter part of the year.

Our EBITDA (before exceptional items) of J 14237 lakhs grew by45% YoY. Our free cash flow was J 22000 lakhs and we enter the year with asubstantial cash cushion for our continuing investments in acquisitions technology andhuman capital.

Add to this civilizational cataclysm the conflict in Ukraine that beganlate in the year and we have the necessary impetus for countries institutions andindividuals to transform the way they organise themselves. The next ten years promise tobe very different from the last ten and it is to this task of maximising the opportunitiesand tackling the challenges that we at TeamLease have committed ourselves. The externalenvironment of governments businesses jobseekers and learners makes up the TeamLease‘demand' ecosystem. A critical part of the organisation's DNA is to listento respond and shape this environment. TeamLease is simultaneously pro-active andresponsive. We take our responsibility as a corporate citizen in a fast growing andrapidly changing country seriously and are more than willing to take our place at thepolicy table count. Equally we want to listen and respond to the continually evolvingneeds of our clients as they go about the business of adapting to this dynamicenvironment.

Accordingly we have begun the transformation of our ‘supply'ecosystem to meet the challenges of the next ten years. At the top we have expanded anddiversified the board to provide strategic insight and governance. The expanded board notonly brings new functional expertise but importantly adds cognitive diversity as well. Westrive to make the Board's conduct effective by matching a democracy of input with acrispness in decision-making. The Board is one of few in India led by an independentChairman and it is my honour and responsibility to ensure that this custodial role isdischarged with focus and integrity. At the heart of any successful firm is the talentthat operates its businesses. We have focused on the task of elevating and rotating ourbest people and hiring additional talent so that our main business lines in employmentemployability and education are now in great hands. They now have the autonomy andresources to deliver ambitious goals within a broad framework of governance. TeamLeaseoperates in the human capital industry but offers services for hiring productivity andscaling. The dramatic events of the last two years moves the proposition of the staffingindustry supply chains from the backroom to the corporate boardroom. India's flagshipIT Services industry has new wind beneath its sails and TeamLease is positioned well tobenefit through our specialised staffing business. Our learning solutions benefit fromcompanies recognising that skilling is about productivity whether from home or in theoffice. The technology mind-set that has been accelerated by the pandemic favours ourplatform- based delivery of solutions. Our e-workforce solutions are still small but carryhuge promise in a world where every company is a technology company and straight-throughprocessing has become a requirement. The tailwinds of structural change bode well forTeamLease. As we have always done TeamLease continued to target three goals of growthmargin expansion and capital efficiency. Despite a choppy year in the externalenvironment we closed the year with operating revenue of Rs 647982 lakhs. OurEBITDA (before exceptional items) of Rs 14237 lakhs grew by 45% YoY. Our free cash flowwas Rs 22000 lakhs and we enter the year with a substantial cash cushion for ourcontinuing investments in acquisitions technology and human capital. We do not run theCompany with an eye on the stock price in the short term. In the long term our stockprice is a measure of the how our products and services meet the needs of our customers.This in turn is a direct result of our investments in talent processes and technologyknit together by our organisational culture. Our principles of capital prudence and steadyprogress have resulted in significant outperformance over the Nifty 50 since we became apublic company in 2016. Combined with these principles our open-mindedness and agilitywill drive our prospects and position us to grow in the years ahead. On behalf of theBoard of Directors of TeamLease I would like to thank various Central and StateGovernment departments for the help and cooperation extended by them during the year. Ialso express my gratitude to all employees of TeamLease and the Management team for theirdedication and hard work.

Mahatma Gandhi said the future depends on what we do in the present. AtTeamLease we remain committed to doing just that so we can take the Company to newheights. Thank you for being part of the journey.

Narayan Ramachandran
Chairman & Lead Independent Director

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