i. Mr. Vidur Gupta, aged 38 Years, is the Promoter and Managing Director of the Company. He is the Co-Founder of Spectrum Talent Management Limited. He holds a bachelors degree in Hospitality and has then studied Entrepreneurship from Amity University. He has done his MBA in Entrepreneurship and is a specialist in Strategy & Business Development. He has extensive experience in management at all levels both in India and Overseas and Expertise in Talent Management in USA, APAC and MEA. ii. Mr. Sidharth Agarwal, aged 38 Years, is the Promoter, Whole-Time Director & CFO of the Company. He studied for his Bachelors in Business and Masters in Business from Amity Business School. He has worked with Reliance Capital for a year. This is where he gained excellent exposure towards finance and numbers. He is very strong with his finance and forecasting skills. His ability to tightly handle resources makes him the perfect person for handling the Finance function along with contract staffing for the company. He has been instrumental in ramping up Contract staffing operations and maintaining overall profitability for the company. He handles the Contract staffing, Finance, and operations for the company.

A. Balance Sheet

Particular (In Lakhs)	Mar-20	Mar-21	Mar-22	9MFY23
Equity Share Capital	475	950.00	855.00	1,790.75
Reserves	1,025	1,026	1,972	3,054
Borrowings	422	61	1,027	255
Trade Payables	30	99	150	289
Other Liabilities	2,129	2,495	2,471	3,266
Total Liabilities	2,581	2,654	3,648	3,809
Net Block	216	170	263	312
Investments	0	80	81	1
Other Assets	60	92	127	103
Total NC Assets	275	342	471	415
Receivables	2,020	2,488	4,083	5,967
Inventory	0	0	200	174
Cash & Bank	1,104	775	543	511
Other Assets	682	1,026	1,182	1,591
Face value	10	10	10	10

B. Profit & Loss Statement

Particular (In Lakhs)	Mar-20	Mar-21	Mar-22	Mar-23
Sales	32,332	30,239	48,322	77,870
Purchases of Stock In Trade	0	0	10,156	26,848
Change in Inventory	0	0	-200	35
Other Mfr. Exp	366	444	475	687
Employee Cost	30,863	29,065	35,900	46,561
Selling and admin	0	0	135	334
Other Expenses	211	231	265	530
Other Income	31	57	50	17
Depreciation	76	87	88	140
Interest	12	14	12	64
Profit before tax	835	454	1,543	2,687
Tax	159	-22	-9	24
Net profit	676	476	1,552	2,663

C. Cash Flow Statement

Particular (In Lakhs)	Mar-20	Mar-21	Mar-22	9MFY23
Cash From Operating Activity
Profit From Operation	905	533	1636	2179
Receivable	-316	-474	-1602	-1884
Inventory	0	0	-200	26
Payable	-1	69	51	139
Loans And Advances	-710	113	-641	8
Other WC Items	368	349	-223	446
Working Capital Changes	-659	56	-2614	-1265
Direct Taxes	-312	47	-248	66
Net Cash Inflow from Operating Activity	558	542	-731	848
Cash from Investing Activity
Fixed assets purchased	-136	-35	-181	-150
Investments purchased	158	-460	423	90
Dividends received	0	0	1	0
Net cash inflow from investing activities	22	-495	242	-60
Cash from Financing Activity
Proceeds from borrowings	11	0	966	0
Repayment of borrowings	253	361	0	772
Intrest paid fin	-12	-14	-12	-48
Dividends paid	-22	0	0	0
Other financing items	0	0	-698	0
Net Cash Flow	1104	775	543	511

 

Name of the Company	Revenue (In Crore)	PAT (In Crore)	EPS ( in Rs)	P/E	CMP	Mcap (In Crore)
Spectrum Talent Management Limited	779	27	11.53	15.0	173	400
Quess Corp Limited	17158	223	15.14	33.6	418	6190
TeamLease Services Limited	7870	112	65.12	32.5	2153	3685

* All the data is as per FY23.

Review and Recommendation of Spectrum Talent Management by IZ team is 5/10 1. Comprehensive Services: Spectrum Talent Management offers a wide array of services including recruitment, payroll, onboarding, and flexible staffing solutions. Our aim is to cater to the diverse needs of organizations, ensuring seamless and efficient HR operations. 2. Global Reach: With over 275 clients in domestic and offshore markets, our network spans across the globe. We are committed to satisfying firms' staffing and recruitment needs worldwide, leveraging our specialized knowledge and substantial talent pool. 3. Systematic Staffing Process: They have well-defined staffing process sets us apart. From workforce planning to retention strategies, we meticulously identify and meet our clients' current and future hiring requirements. By executing a plan tailored to each client, we ensure the selection of the most suitable candidates. 4. Promoters' Experience: The success story is backed by the combined experience of the  promoters, Mr. Vidur Gupta and Mr. Sidharth Agarwal, who possess an impressive 28 years in the staffing industry. Their enriching experience and progressive thinking have been pivotal in driving our growth and building a strong value system. 5. Global Subsidiaries: Spectrum Talent Management has two subsidiary companies contributing to our global presence. STM Consulting Inc., is wholly owned subsidiary, operates in the USA, while STM Consulting Limited, our 90% subsidiary, operates in the UK. Both entities specialize in employment placement, temporary agency activities, and human resources provision. 6. Diversification Strategy: As a company focused on growth, they continually explore new lines of business. While staffing remains the core competency, they recently ventured into the export of electronic products, capitalizing on emerging opportunities. However, to maintain the core focus, they are in the process of closing the trading vertical. 7. Financials : The revenue has increased from 323 Cr in Fy20 to 778 Cr in Fy23 (Annualising 9MFY23 numbers). PAT has increased from 6 Cr in Fy20 to 26 Cr in Fy23. Company has just 2.5 Cr of debt on the books and a cash of 5 Cr as on 31.12.2022. 8. Valuation : The Annualised EPS for FY23 is 11.53 per share and based on that P/E is 15x which looks reasonable as compared to peers.

Spectrum Talent Management Limited B- 46, Retreat Apartments, 20, I.P Extension, Delhi-110092 Phone: 0120-4258857 Email: cs@stmpl.co.in Website: http://www.stmpl.co.in/