Service Care Limited is a premier Indian integrated business solutions provider specializing in the dual pillars of **Workforce and Workspace Administration**. Established in **1999** and incorporated in **2011**, the company successfully listed on the **NSE Emerge (SME)** platform in **July 2023**. Headquartered in **Bangalore**, the firm operates a pan-India service delivery model, managing a workforce of over **5,900 employees** (peaking at **6,200+**) and serving a blue-chip clientele of over **250 customers** with a **92% retention rate**. --- ### **Core Business Verticals & Service Architecture** The company integrates technology-driven **HRMS** and **IFMS** (Integrated Facility Management Services) to manage the entire lifecycle of a client’s human capital and physical infrastructure. #### **1. WorkForce Administration (HR & Staffing)** This segment focuses on end-to-end human resource solutions, ranging from high-volume recruitment to complex statutory compliance. * **Talent Acquisition:** Bulk, niche, and lateral hiring; Executive Search (International); and **Recruitment Process Outsourcing (RPO)**. * **Staffing Solutions:** Contract staffing for skilled/semi-skilled roles, **IT Contract Staffing**, and **Offshore Development Centre (ODC)** project solutions. * **Managed HR Services:** Automated payroll processing (integrated with **PF, ESI, Gratuity, and Taxation**), digital onboarding, and a multilingual **Central HR Helpdesk**. * **Specialized Banking Vertical:** Dedicated recruitment and assessment strategies tailored for financial institutions. #### **2. WorkSpace Administration (IFMS & Managed Offices)** This vertical delivers integrated facility management through an **SLA-driven model**, covering soft services, hard engineering, and specialized managed office spaces. | Category | Key Offerings | | :--- | :--- | | **Soft Services** | Mechanized housekeeping, pest control, waste management, and landscaping. | | **Hard Services (MEP)** | **Electro-Mechanical Maintenance**, HVAC, Lifts, DG sets, and OEM-compliant preventive maintenance. | | **Hospitality & Admin** | Pantry, catering, reception, mailroom, and concierge services. | | **Security & Safety** | Trained personnel, CCTV surveillance, access control, and fire alarm systems. | | **Managed WorkSpace** | Fully serviced "plug-and-play" environments with ergonomic furniture and biophilic design. | --- ### **Operational Footprint & Technology Integration** Service Care leverages a hub-and-spoke model to ensure regional responsiveness across India: * **Registered Office:** Bangalore, Karnataka. * **Branch Offices:** Pune (Maharashtra) and Karnal (Haryana). * **Satellite Offices:** Ahmedabad, Gurugram, Mumbai, Hyderabad, and Chennai. * **Tech Stack:** Deployment of proprietary **HRMS** and **Facility Management (FM) tools** for automation, real-time data reporting, and **AI/IoT-powered** smart building systems for predictive maintenance. --- ### **Financial Performance & Capital Structure** The company is currently in a high-growth phase, characterized by revenue expansion and strategic capital raising, despite recent margin pressures from investment cycles. | Metric | FY 2023-24 (Audited) | FY 2022-23 (Audited) | | :--- | :--- | :--- | | **Total Revenue** | **₹192.45 Crore** | **₹159.00 Crore** | | **EBITDA** | **₹4.72 Crore** | **₹4.56 Crore** | | **Profit After Tax (PAT)** | **₹4.36 Crore** | **₹4.05 Crore** | | **ROCE** | **13.14%** | - | | **EBITDA Margin** | **2.41%** | **2.87%** | **Key Financial Notes:** * **FY25 Interim Performance:** Reported turnover of **₹189.01 Cr**; however, net profit was impacted by a notional **Unrealized Loss** of **₹216.81 Lakhs** due to the restatement of short-term investments to Market Value (**Ind AS 109**), which does not affect cash flow. * **Client Concentration:** The **Top 10 customers** contribute approximately **94%** of total revenue. Key clients include **Larsen & Toubro, State Bank of India, Ashok Leyland, Birla Carbon, Nuvoco Vistas,** and **Shapoorji Pallonji**. * **Dividend Policy:** Declared two interim dividends of **5% each** (**₹0.50 per share**) in FY24. --- ### **Strategic Growth Pillars & Expansion Roadmap** Service Care is transitioning from an SME player to a diversified national provider, targeting a migration from the **NSE Emerge** platform to the **NSE Main Board**. * **Managed Office Scaling:** Following a successful **425-seater** facility in **Ranchi**, the company has signed MOUs for new spaces in **Delhi (200 seats)** and **Guwahati (100 seats)**. * **Capital Infusion:** In September 2024, the board approved a **Preferential Allotment** of **22,20,000 shares** at **₹72 per share**, raising **₹15.98 Crores** for expansion. * **International Ambitions:** Evaluating entry into the **Middle East, Europe, and the US** for workforce services. * **Strategic Partnership:** As of January 2025, the company is in discussions regarding a potential **strategic equity investment** from a leading **Japanese Corporation**. * **Sector Diversification:** Aggressive entry into high-margin niches including **pest control, catering, and civil project services**. --- ### **Project Pipeline & Market Opportunity** The company is capitalizing on an Indian IFM market projected to grow at a **CAGR of 13.87%** through **2030**. **Recent Contract Wins:** * **Infrastructure Workforce Admin (Mumbai):** Two projects valued at **₹11.80 Cr** and **₹10.80 Cr** (Tenure: **2.5 - 3 Years**). * **Data Centre Management (Mumbai):** LOI signed for specialized facility management. * **Workforce/Workspace Management (Chennai):** Combined annual contracts exceeding **₹83 Lakhs**. --- ### **Risk Management & Governance Framework** The company maintains a multi-tier risk mitigation structure overseen by the **Audit Committee** and the **Board of Directors**. * **Operational Risks:** High labor turnover and price-sensitive competition are mitigated through **SLA-driven delivery** and technology-led efficiency. * **Compliance & Regulatory:** The company leverages **Section 80JJA** tax concessions. While it has faced minor **SEBI** penalties for administrative delays (e.g., Record Date intimations), it has strengthened its secretarial audit processes. * **Liquidity & Credit Risk:** Total financial liabilities stood at **₹2,050.38 Lakhs** (March 2024). The company uses **Expected Credit Loss (ECL)** modeling to manage trade receivables, particularly for government-linked projects. * **Cybersecurity:** Implementation of robust **firewalls and threat monitoring** to protect proprietary HRMS and client data.