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Prabhudas Lilladher Report
We are optimistic about TeamLease Services Ltd. given-
TeamLease is gaining market share (32% YoY growth in associate addition in nine months-FY22) in strong demand environment where intent of hiring continues to improve,
strong operating metrics in terms of new logo additions and improving FTE productivity,
yield shortfall of 1% in provident fund trust amounting to ~Rs 15 crore is provided for in Rs 75 crore provision made in Q2 FY22 and should not result in a recurring liability and
stock price has corrected by ~20% since our last result report.
TeamLease is also evaluating option of migrating PF Trust to Employees' Provident Fund Organisation.
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