(file picture) K Pandiarajan, Executive Chairperson, CIEL HR Group, at a press conference, in Chennai
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CIEL HR Services posted revenues of ₹586 crore for the first quarter ending June 2026 (Q1FY27), a growth of 30.4 per cent when compared to the same quarter last year. Profit after tax increased by 48 per cent year-on-year at ₹3 crore.Speaking at a virtual press conference on Tuesday, Executive Director & Chairman, K Pandiarajan said that the company’s growth has beat the HR industry average of 10 per cent year-on-year recorded by its peers.The Chennai-based HR firm has decided to revisit its previously deferred IPO plans in the next financial year ending March 2028. It had initially intended to hit the bourses in February of this year but had postponed it given valuation concerns in a challenging market post the US-Iran war.“Over the past few months, things have improved and the valuations of many listed HR companies have gone up nearly 30 per cent from their lows. We are reassessing the situation,” he added.Pandiarajan suggests that the firm is now likely to raise funds through another equity or debt round before the IPO process. The proceeds, he added, will be expended in making acquisitions of specialised HR firms operating in promising verticals like healthcare staffing.The HR business veteran added that the company has budgeted for a FY27 topline of around ₹2600 crore, roughly 30-32 per growth from FY26.Aditya Mishra, Managing Director and Group CEO said that the company’s business has evolved from just recruitment and staffing services with functions like HR advisory, talent assessment and development contributing nearly 40-45 per cent of the company’s revenue.background verification servicesRecruitment accounts for 10-12 per cent of the revenue while background verification services account for another 15 per cent, he said.“We are seeing greater demand from enterprises to reskill and invest in existing employees and expect the talent management and development to be one among our fastest growing verticals,” he added.Mishra also mentioned that the company intends to deepen its play in certain high growth sectors like Data centers, Semiconductors, clean energy and defence.Meanwhile, CIEL is leveraging AI both internally to reduce the time and costs for certain processes like resume screening, interview scheduling, payroll etc as well as using it in it’s product through its Jombay.AI platform that allows HR teams to analyse large volumes of employee data and automate processes such as succession planning, talent assessment, performance management and workforce intelligence.Published on August 11, 2026
